Is XM Regulated by the Mas as of 2025

XM is a forex and CFD broker offering online trading services to traders and investors worldwide. The broker provides a diverse range of trading instruments, including Forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, shares. It also supports multiple trading platforms and tools such as MT4, MT5.

XM is regulated by several authoritative bodies such as ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global). However, XM is not regulated by the MAS ( Monetary Authority of Singapore). In this article, we will explore XM’ regulations, and its features, and provide a list of alternative brokers that are regulated by MAS.

Does XM Operate Under MAS?

No, XM does not operate under MAS (Monetary Authority of Singapore) regulation. However, the broker is regulated by several other reputable financial authorities including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global). These regulatory bodies ensure compliance with various standards for financial stability, transparency, and investor protection, though they do not provide the specific protections offered by the MAS in Singapore.

What Other Regulations Does XM Have?

ASIC :

XM is regulated by ASIC. Founded in July 1998, the Australian Securities & Investments Commission (ASIC) is Australia’s national corporate regulator, overseeing corporations, markets, and financial services in accordance with the Australian Securities and Investments Commission Act 2001. Being based in Australia, ASIC regulation ensures that the broker complies with Australian laws on financial services, including responsible conduct, risk management, and financial reporting. Client money is kept in segregated accounts, and there is an emphasis on risk disclosure and trader protection.

CySEC :

XM is regulated by CySEC. Established in 2001, Cysec is Cyprus’s financial regulator. Since Cyprus joined the European Union in 2004, CySEC’s regulations align with the MiFID directive, ensuring compliance with EU-wide financial standards and investor protection. This regulation allows the broker to offer services across the European Economic Area (EEA) under the MiFID II directive, ensuring investor protection and transparency. CySEC regulation requires brokers to follow strict guidelines for handling client funds, including segregation and periodic reporting.

FSCA :

XM is regulated by the Financial Sector Conduct Authority (FSCA). The FSCA, which replaced the Financial Services Board (FSB) in 2018, is responsible for overseeing forex and CFD brokers in South Africa. As the primary regulator, the FSCA focuses on creating a transparent and reputable trading environment, aiming to protect investors from scams and fraud. While the FSCA is considered less restrictive compared to European regulators, it is recognized for its strong governance framework, offering traders in South Africa reliable oversight and protection.

DFSA (Dubai Financial Services Authority):

XM is regulated by the DFSA. Established on 13 September 2004, DFSA is the regulatory body for financial services within the Dubai International Financial Centre (DIFC). It oversees a range of financial activities, including forex trading, and ensures compliance with its regulations through a framework of rules and guidelines. The DFSA provides a high standard of investor protection and requires firms to meet rigorous operational standards. For more details, you can visit the DFSA website.

FSC Belize (Global):

XM is regulated by the Financial Services Commission (FSC) of Belize. The FSC, established in 1999, is the government agency that oversees financial services in Belize.

XM must adhere to FSC regulations, including maintaining adequate capital, keeping client funds separate from its own, and providing regular financial updates. The FSC supervises forex trading to ensure transparency and security, although it does not specify a maximum leverage limit. For more details, you can visit their website: https://www.belizefsc.org.bz/.

Best MAS Regulated Forex Brokers: Alternatives to XM

XM is one of the leading forex and CFD brokers. The broker is not regulated by MAS. It is regulated by other top-tier regulators including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global). There are several MAS  regulated brokers that can serve as alternatives to XM. These brokers include: 

These brokers operate under MAS regulation. According to MAS rules, they offer leverage up to 30:1 and provide negative balance protection for retail traders. To learn more about MAS-regulated forex brokers, you can read our content on the best MAS-regulated forex brokers.

How Can I Verify If My Broker is regulated by MAS or Not?

To verify if your broker, such as XM, is regulated by the MAS, follow these steps:

Step 1: Obtain the Broker’s License Number or Name

The first step in verifying whether a broker is MAS-regulated is to gather the necessary details from the broker’s official website. Look for the broker’s licensed or reference number, which is typically listed in the footer, legal section, or “About Us” page. If the license number is not available, the broker’s name can also be used for verification. Having the correct license number or name ensures a more accurate search when checking the broker’s regulatory status.

Step 2: Search the MAS Financial Institutions Directory

Once you have the broker’s license number or name, visit the official MAS Financial Institutions Directory at https://eservices.mas.gov.sg/fid. Enter the license number or the broker’s name into the search bar and hit enter. This directory contains all MAS-regulated entities, and your search results should show the broker’s profile if they are indeed regulated. This step is critical for confirming that the broker you are considering operates legally under MAS oversight.

Step 3: Check License Type and Status

After locating the broker in the MAS directory, carefully review their profile. Look specifically for the license type and status to ensure that the broker is authorized to offer the services you need. If you are trading forex, verify that the broker is licensed to provide “Spot Foreign Exchange Contracts for Leveraged Forex Trading” under “Dealing in Capital Markets Products.” This step confirms that the broker has the necessary permissions to legally offer forex trading and other related financial products.

Step 4: Verify Broker Contact Details

Another essential step is to ensure that the contact details listed on the MAS website match those provided by the broker on their own site. Pay close attention to details such as the broker’s website URL, email address, and phone number. If the contact details differ, it could indicate that you are dealing with an unauthorized broker or a clone firm that is pretending to be MAS-regulated. Verifying these details helps protect you from potential scams or unauthorized firms.

Step 5: Stay Away from Unlisted Brokers

If you cannot find the broker in the MAS directory, this is a red flag. Brokers that are not listed are likely unauthorized, and trading with them can put your funds at serious risk. Unauthorized brokers often operate without regulatory oversight, meaning they may not adhere to client fund protection rules, leaving your investments exposed. Always stay away from brokers that are not listed in the MAS directory to ensure your money remains safe.

Frequently Asked Questions ( FAQs)

What is XM?

XM is a multiple award-winning broker that allows its clients to trade forex, CFDs, and real stocks on its MetaTrader platforms. Founded in 2009, XM has over 1000 trading instruments and multiple account types which are designed for newbies, and experienced and professional traders. Trading tools are also provided to assist the traders with market analyses.  

Is XM Considered Safe?

Yes, XM is considered safe. Though XM is not regulated by MAS, it is regulated by other reputed regulatory authorities including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global). These regulations ensure strict compliance with industry standards and provide protection for client funds.