CySEC (Cyprus) and ASIC (Australia) — yes. UK FCA — no. XM Group is licensed in Cyprus, Australia, Belize and Dubai but does not currently hold a UK FCA licence, and does not onboard UK retail clients.
Direct answer
Two of the three regulators in the question are confirmed: XM Group holds a CySEC licence in Cyprus and an ASIC licence in Australia. It does not hold a UK FCA licence and does not accept UK retail clients. The fourth meaningful regulator in the group is DFSA (Dubai), and the fifth is FSC Belize for the international entity that pays the $30 no deposit bonus.
XM’s regulatory map in 2026
| Regulator | Held by XM? | Notes |
|---|---|---|
| CySEC (Cyprus, EU) | Yes | EU clients; ICF up to €20,000; ESMA leverage caps; no monetary bonuses |
| ASIC (Australia) | Yes | Australian residents; tier-1 oversight |
| UK FCA | No | UK retail clients are not onboarded |
| FSC Belize | Yes | XM Global Limited; pays the $30 no deposit bonus |
| DFSA (Dubai) | Yes | UAE / MENA region |
Test XM with the $30 no deposit bonus
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FAQ
Is XM regulated by FCA, CySEC and ASIC?
CySEC (Cyprus) and ASIC (Australia) — yes. UK FCA — no. XM Group is licensed in Cyprus, Australia, Belize and Dubai but does not currently hold a UK FCA licence, and does not onboard UK retail clients.
Why doesn’t XM hold an FCA licence?
The group has chosen not to operate a separate FCA-regulated UK entity. UK retail clients are simply not onboarded, regardless of which XM marketing surface they arrive from.
Is CySEC regulation strong?
Yes. CySEC is a tier-1 EU regulator under MiFID, with the same investor compensation framework that applies across the EU.
Related XM guides
- XM Licenses and Regulation
- What does XM’s Belize / Mauritius / Seychelles licence mean?
- What is the difference between an XM EU account and an XM Global account?
- Is XM’s regulation strong or weak?
- Is XM Safe or a Scam?