Both. XM offers spot forex on 50+ pairs and CFDs on metals, energies, equity indices, individual shares and (depending on entity) cryptocurrencies. The same MT4/MT5 account holds all of them.
Direct answer
XM is a multi-asset retail broker. The headline product is spot forex, but the same trading account also gives access to CFDs across major asset classes. There is no separate “CFD account” or “forex account” — the asset list is determined by the entity that holds your account and the account type you opened.
Asset coverage at a glance
| Class | Typical instruments |
|---|---|
| Forex | EURUSD, GBPUSD, USDJPY, AUDUSD, USDTRY, USDZAR, 50+ pairs |
| Metals | Spot gold (XAUUSD), spot silver (XAGUSD), platinum, palladium |
| Energies | WTI, Brent, natural gas |
| Indices | US30, NAS100, SPX500, GER40, UK100, JP225 and 30+ others |
| Shares | 1,000+ individual stock CFDs across US, EU and Asian listings |
| Crypto CFDs | BTC, ETH, LTC, XRP, ADA and others where regionally permitted |
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FAQ
Is XM a forex broker or a CFD broker?
Both. XM offers spot forex on 50+ pairs and CFDs on metals, energies, equity indices, individual shares and (depending on entity) cryptocurrencies. The same MT4/MT5 account holds all of them.
Does XM offer real share ownership?
No. The Shares account trades stock CFDs (contracts for difference) — you have price exposure, not ownership of the underlying share or shareholder rights.
Are crypto CFDs available everywhere?
No. Crypto CFD availability depends on your registered country and the entity holding your account. Some jurisdictions restrict retail crypto CFDs entirely.
Related XM guides
- Which forex pairs does XM offer?
- Does XM offer gold, oil and indices CFDs?
- Does XM offer stock CFDs?
- Does XM offer crypto CFDs?
- What is XM and what is XM Global?