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XM’s international website explicitly excludes citizens of the United States, Canada, Israel and Iran, together with other sanctioned countries. However, XM does not publish a complete named list covering every sanctioned or locally restricted jurisdiction.
These restrictions may result from XM’s service policy, international sanctions or local financial laws. Website availability alone does not confirm that XM is authorised to accept clients from a particular country.
Therefore, eligibility must be checked individually. A prospective client should verify their genuine country of residence, the XM legal entity offered during registration and the rules imposed by their local regulator.
Which Countries Are Currently Restricted by XM?
XM currently names the United States, Canada, Israel and the Islamic Republic of Iran as restricted countries. Its international website also refers to “other sanctioned countries” without identifying each one individually.
The table distinguishes what XM explicitly confirms from restrictions that still require individual verification.
| Country or category | XM’s published position | What is confirmed | What still requires verification |
| United States | US citizens are named on the website; US residents are excluded in the XM Global agreement | XM Global does not accept trading from US residents | Whether another XM-related entity has any separate legal arrangement |
| Canada | Canadian citizens are explicitly named | The international XM service is not offered to the named group | Residence, dual nationality and entity-specific treatment |
| Israel | Israeli citizens are explicitly named | The international website identifies Israel as restricted | Whether the rule is based on nationality, residence or both for a specific application |
| Islamic Republic of Iran | Iranian citizens are explicitly named | Iran appears in XM’s published restriction notice | Additional sanctions and documentary requirements |
| Other sanctioned countries | XM uses a general category rather than a full list | Additional countries or persons may be excluded | The exact sanctions framework and individual eligibility |
| Countries restricted by local law | XM does not direct its services where use is prohibited locally | Local law can prevent access even when a country is not individually named | Local licensing, marketing and client-acceptance rules |
Does XM Publish a Complete Restricted-Country List?
No complete public list is currently provided on the international XM website. The published notice names four countries and then adds the broader phrase “other sanctioned countries.”
Consequently, lists published by broker-review sites should not automatically be treated as official XM policy. For example, a country appearing on an international sanctions list is not sufficient evidence that XM has classified every resident or citizen of that country in the same way.
The illustration below separates the three categories readers should check instead of relying on an unverified country list.
Does XM Restrict Citizens, Residents or Both?
The wording varies between XM documents. The international website refers to citizens of the four named countries, while the XM Global Client Agreement specifically states that trading is not accepted from clients residing in the United States.
Furthermore, the agreement allows XM Global to impose additional requirements or preconditions on clients residing in or coming from particular countries. Applicants should therefore avoid assuming that citizenship and residence are interchangeable eligibility tests.
Why Does XM Restrict Some Countries?
XM may restrict a country because of its own acceptance policy, sanctions, the scope of its legal entities or rules imposed by local authorities. These factors can operate independently, meaning a country does not need to appear in XM’s four-country notice for access to be restricted.
For broader context, Mbroker’s guide to XM regulation explains why the legal company serving an account matters. Different XM entities operate under different regulators, agreements and territorial permissions.
In practice, restrictions generally fall into three layers:
- XM policy: The broker can decide not to accept particular nationalities, residents or customer categories.
- Sanctions and compliance: A company may need to exclude sanctioned countries, organisations or individuals.
- Local law: A jurisdiction may prohibit or limit unlicensed overseas platforms from offering or marketing leveraged trading services.
Are Restrictions the Same Across Every XM Entity?
No. XM is a brand connected with multiple legal companies, and one entity’s eligibility rules should not be applied automatically to another. The legal documents relevant to an account are identified through the applicable registration process.
Therefore, readers should identify the company named in the website footer, registration documents and Client Agreement. The regulator, available products, complaint process and country coverage can depend on that company.
Can Local Law Restrict XM Even When XM Does Not Name the Country?
Yes. A local regulator can restrict access or marketing independently of XM’s global country notice. XM Global’s agreement states that access to its platform does not necessarily mean that its services or the user’s activities are legal in the country of residence.
For example, the Monetary Authority of Singapore announced in June 2025 that XM and another overseas platform had offered and marketed services to Singapore customers without the required licences. MAS consequently arranged for access to their websites to be blocked. This was a Singapore regulatory action and should not be misrepresented as an addition to XM’s own four-country list.
How Can You Check XM Eligibility in Your Country?
Check the applicable legal entity, genuine residence, registration availability and local regulatory position before submitting an application. A visible registration page or accessible website is not final confirmation that an account can legally be opened.
The following image shows the order of checks needed to avoid confusing website access with confirmed eligibility.
What Should You Verify Before Registering?
Use the current official documents and registration process rather than an old third-party list. Complete the checks in this order:
- Identify the XM entity: Record the full company name shown in the website footer and proposed Client Agreement.
- Enter your genuine residence: Check whether your actual country is available during official registration.
- Read the regional notice: Review the current restricted-country and legal-jurisdiction wording.
- Check the regulator: Search your local financial regulator’s register, warning list or investor notices.
- Request written clarification: Contact XM through an official support channel when the country status remains unclear.
- Keep the response: Save the email or support reference together with the legal documents reviewed.
XM’s Client Agreement requires account-opening information to be correct and current. It also directs users to inform support when their circumstances no longer match the representations originally provided.
Can a VPN or Foreign Address Bypass XM Restrictions?
A VPN, temporary travel location or borrowed address does not establish legal eligibility. Such methods may conceal the applicant’s actual location but do not change citizenship, residence, identity documents or local law.
Moreover, inconsistent address and identity information can create verification problems or account restrictions. Related cases should be assessed through the documented procedures explained in the Mbroker guide to XM complaints, rather than by attempting to submit different personal details.
What If Your Country Is Not Clearly Listed?
Do not interpret the absence of a country name as automatic acceptance. First, check the XM entity and official application flow; next, review the local regulator’s position; finally, obtain written confirmation from XM support.
The same process applies after moving to another country. Because the agreement requires personal information to remain accurate, an existing client should report the new residence and ask whether the account can remain under the same entity and terms.
Risk warning: Country eligibility only addresses whether services may be available. Forex and CFDs remain leveraged products that can cause rapid losses, including the loss of the capital deposited.
XM publicly identifies four restricted countries, but its notice is not a complete worldwide eligibility database. The safest decision rule is to proceed only when the applicant’s genuine residence, the assigned XM entity and local law all support access. When any of those points remains uncertain, written confirmation from the official provider and the relevant regulator is more reliable than an unofficial country list.
Thoren Vextal is Mbroker’s XM Reviews and How-To Guides Editor, covering broker reviews, regulation, comparisons and practical account guides.Email: [email protected]