Yes, XM is definitely one of the safer forex brokers, by virtue of it being heavily regulated in several global jurisdictions. The firm is proud of this fact and makes reference to this on its homepage.
XM was founded in 2009 and is an experienced leader in the forex industry, which has had to adapt to an overly protective regulatory community, especially the leading regulators in major developed countries. Since its inception, it has served over 5 million clients in 190+ countries with 600+ professionals.
These regulatory authorities have not been consistent with their new rules and regulations, which have been enacted over the past several years. As a result, firms such as XM have had to adapt by creating a series of operating entities, each licensed in a separate jurisdiction and able to support clients based on the regional oversight at hand. As the XM Group encompasses several of these entities, their product offerings, features, and bonus programs may differ across corporate boundaries in line with current regulations.
Each XM operating entity has been registered and authorized by regulatory authorities in their respective regions. These regulators are as follows:
Yes, your deposits are safe with XM. The firm segregates all customer deposits in separate Tier-1 financial institutions (Barclays Bank is just one of these), in compliance with international regulations. Clients of the Cyprus operating entity may also benefit from the protective umbrella that further protects their deposits up to €20,000 for EEA customers.