A guide to all five processes — from registration to a real order in the terminal, almost all on real screenshots. Every screenshot has a date underneath. Where there's still no screenshot, we say so directly — a guide shouldn't make empty promises.
Brokers: comparison, NAGA, FXPRO, INSTAFOREX, AVATRADE
Where: xm.com, web · Screenshots taken: 2026-08-05
What you will need: Email; A couple of minutes — the form is a single screen
Legal entity: XM Global Limited · Jurisdiction: Belize · Regulator: Financial Services Commission (Belize) · licence: 8557558
«Компания XM Global Limited имеет лицензию на ведение деятельности от Комиссии по финансовым услугам (FSC) Белиза, согласно закону «О рынке ценных бумаг» 2021 года, номер лицензии 8557558.» — captured from the Russian-language build of the site; translation: "The company XM Global Limited is licensed to conduct business by the Financial Services Commission (FSC) of Belize under the Securities Industry Act 2021, licence number 8557558."
Belize's FSC public register can't be read by automated tools — there's no direct link to the company's record.
Careful with the reading: this line is the footer of the site's global build — it's the same regardless of the country you selected. It proves "the global site is run by XM Global", not directly that "this specific entity is assigned to your country". There's indirect confirmation: a real account opened from a CIS/non-EU European country has 1:1000 leverage — that's the Belize entity's ceiling (the Cyprus entity's is 1:30).
a compensation fund (the Cyprus XM entity has one — €20,000; the Belize one doesn't),a published percentage of losing accounts
1:1000 leverage isn't "broker generosity" — it's a sign of an offshore entity: the European company under the same brand caps out at 1:30. Worth seeing right away, not later.
Separately: verification is offered here bundled with a bonus. The bonus isn't a reason to rush uploading documents — verification is needed in its own right, to be able to withdraw money.
| Parameter | Value |
|---|---|
| Account type | MT5 Standard |
| Leverage | 1:1000 |
| Contract size | standard: 100,000 units of the base currency |
| Platforms | MT4, MT5, MT5 web version, XM app |
The funding section was captured again — last time the "Deposit" button wouldn't open (the SPA wasn't responding). This time the payment-methods panel opened, and it revealed why that matters: on an unverified account, there's nothing to fund with at all.
Where: my.xm.com, dashboard · Screenshots taken: 2026-08-13
The caption under the locks, verbatim: "These payment methods are unavailable because they're only available to verified clients." Not some of the methods, not a lower limit — all five are locked at once. At XM, verification isn't a formality for withdrawing profit — it's a condition for the very first deposit.
| Parameter | Value | Source |
|---|---|---|
| Minimum deposit | 5 USD | broker's website |
| Inactivity fee | 5 USD/month after 90 days without trades | XM costs document |
The inactivity fee isn't trivial: an account forgotten for a year loses 60 USD against a minimum deposit of just 5 USD. If you're opening an account "just to look" and don't plan to trade, it's smarter to withdraw the balance than leave it sitting there.
The capture tool no longer breaks on this page — last time it failed here and on registration too, this time the whole path was captured properly. The "Verify account" button from the yellow banner leads through five screens in a row: phone, personal details, address, an investor questionnaire, and only then documents via Sumsub (the same verification provider NAGA uses).
Where: my.xm.com, dashboard · Sumsub · Screenshots taken: 2026-08-13
Phone and name are a formality. The investor questionnaire is already a substantive question about trading experience. Uploading a two-sided document plus a liveness check (Sumsub, the same provider NAGA uses) is where a chunk of users actually drop off. Until every step is complete, funding is unavailable through any method (see the Funding section).
Where: my.xm.com/markets, web terminal · Screenshots taken: 2026-08-13
XM has the same kind of feature we already showed at NAGA ("Find Leaders"): subscribing to a specific trader's trades for a cut of the profit (10% to 30% here, depending on the strategy). A leader's past return isn't a guarantee of future return, and the profit shown is the leader's profit, not the subscriber's — commission and copy delay both eat into it.
What we measured ourselves in the XM terminal (a snapshot outside the methodology windows, 2026-08-05, around 10:00 UTC) versus what the broker publishes about itself:
| Instrument | Broker's average spread | Our terminal snapshot |
|---|---|---|
| EUR/USD | 2.0 pips | 1.9 |
| GBP/USD | 2.4 | 2.4 |
| USD/JPY | 2.5 | 2.3 |
| Gold | 5.5 | $0.55 |
| WTI Oil | 0.05 | $0.05 |
| Bitcoin | 50.00 | $50.00 |
That's rare: most platforms in our comparison either show "spread from..." or nothing at all. XM publishes average and minimum spreads for every instrument class, and for Bitcoin and Ether the figures matched our terminal snapshot exactly.
Sources: XM's condition pages by instrument class, checked 2026-08-06. Our own snapshot is from a real account's terminal, taken outside the methodology windows, shown here as a reference point.
XM's "pip" is ten quote points, not the last digit. For gold, 5.5 pips means $0.55. If you treat a pip as the last digit, the error on gold becomes tenfold.