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XM in Brazil: Is it Available and Legit?

Andrey Mastykin
Written by:
Andrey Mastykin
Dan Blystone
Reviewed by:
Dan Blystone
Chinmay Soni
Fact-checked by:
Chinmay Soni
Updated:
June 05, 2026
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XM isn't available in US
XM REVIEW

As of June 2026, XM is available to traders and investors in Brazil. This accessibility confirms the broker's authorization to operate within Brazil and its compliance with the necessary regulatory requirements.

Essential details of XM services in Brazil

Anton Kharitonov
Anton Kharitonov
Chief Analytics Officer

XM is accessible to traders and investors in Brazil. Key highlights include:

  • Brazil residents can open an account with XM
  • XM has earned an overall rating of 9.3/10 points according to our methodology.
  • XM received 10/10 points for regulation and safety.
  • For more detailed information, see our comprehensive XM review.

Is XM a regulated broker? Is it safe?

XM is a regulated Forex broker operating under the supervision of the following regulatory authorities:

XM regulation review
CMA (Kenya) CMA (Kenya) The Capital Markets Authority (CMA) of Kenya regulates and oversees the activities of financial market participants, including stock exchanges, Forex brokers, and investment companies. Its primary goal is to ensure transparency, investor protection, and the development of Kenya's capital markets. The CMA also promotes the introduction of new financial products and supports innovations to strengthen the local capital market.
Full Name The Capital Markets Authority Country Kenya Protection Fund KES 50,000 Regulation level Tier-2
CMA (UAE) CMA (UAE) CMA/SCA (UAE) is the federal capital markets regulator, publishing a comprehensive legislative/regulatory framework (laws/regulations/decisions/circulars, incl. drafts) to enhance transparency, protect investor rights, and ensure fair/efficient markets. The website provides an Open Data platform with key due-diligence sections: Licensed Companies, Warnings, Violations and Violators, plus lists of funds and Authorized Finfluencers. It also offers regulatory procedures relevant to investor protection/disputes—e.g., an appeal service for decisions by SCA/markets in disputes between investors and supervised entities (with submission timing and requirements). There is also a dedicated Minority Investor Protection framework (governance principles, shareholder participation, access to related-party deal information, etc.).
Full Name Capital Market Authority Country United Arab Emirates Protection Fund No specific fund Regulation level Tier-2
CySec CySec CySec regulates investment firms, brokers, and their transactions in securities and derivatives on the Cyprus Stock Exchange. It imposes strict operational conditions, regular audits, and financial compliance.
Full Name Cyprus Securities and Exchange Commission Country Cyprus Protection Fund Up to €20,000 Regulation level Tier-1
DFSA DFSA DFSA regulates financial services performed within Dubai's International Financial Centre (DIFC). It's known for a robust legal framework and strict oversight practices, providing high levels of investor protection.
Full Name Dubai Financial Services Authority Country Dubai Protection Fund No specific fund Regulation level Tier-2
FSA (Seychelles) FSA (Seychelles) FSA Seychelles regulates the non-bank financial services in Seychelles, aiming to promote their efficiency and transparency.
Full Name Financial Services Authority of Seychelles Country Seychelles Protection Fund No specific fund Regulation level Tier-3
FSC (Belize) FSC (Belize) This body regulates the insurance and pensions industry, as well as the entire financial services sector, promoting financial inclusion and market integrity in Belize.
Full Name Financial Services Commission of Belize Country Belize Protection Fund No specific fund Regulation level Tier-3
FSC (Mauritius) FSC (Mauritius) FSC Mauritius ensures the orderly administration of the financial services and global business sectors in Mauritius, enhancing investor protection and international compliance.
Full Name Financial Services Commission of Mauritius Country Mauritius Protection Fund No specific fund Regulation level Tier-3
FSCA SA FSCA SA The FSCA oversees the South African non-banking financial services industry, focusing on protecting investors and efficiently preventing financial crimes by enforcing stringent compliance standards.
Full Name Financial Sector Conduct Authority of South Africa Country South Africa Protection Fund No specific fund Regulation level Tier-2

Is XM safe to use in Brazil?

A broker’s security is largely defined by its regulatory status. XM is supervised by a Tier-1 authority, which is considered the highest level of oversight in the financial industry. Such brokers must comply with strict requirements on capital, transparency, and client fund protection. In addition, the presence of an Investor Compensation Fund and a proven track record in financial markets further strengthen trust. According to our methodology, XM received a Regulation and safety score of 10/10, placing it among the most secure brokers.

Is Forex trading allowed in Brazil? Is Forex taxable in Brazil?

  • Forex licensing in Brazil

    In Brazil, the Forex market operates under the oversight of the Central Bank of Brazil. This institution plays the main role in regulating and supervising financial activities, including foreign exchange transactions. Its responsibilities encompass formulating monetary policies, issuing currency, and managing the nation's foreign exchange reserves. By implementing measures to control exchange rate fluctuations and enforce compliance with regulations, the Central Bank ensures stability in the Forex market.

  • Requirements for licensing in Brazil

    To be licensed to operate in Brazil, Forex firms must adhere to specific requirements:

    1. firms are mandated to maintain a minimum capital threshold set by regulatory authorities
    2. appointing compliance officers to ensure adherence to regulatory standards and protocols
    3. implementing stringent AML measures to prevent illicit financial activities
    4. business plans and financial statements: Providing detailed business plans and financial statements for regulatory scrutiny and transparency
    5. mandatory registration with relevant authorities to ensure accountability and transparency in operations

XM vs other regulated brokers in Brazil

To provide a clear understanding of available options for traders in Brazil, Traders Union compared XM trading conditions with those of other regulated brokers accepting clients in the region.

Regulation CySEC, FSC (Belize), DFSA, FSCA, FSA (Seychelles), FSC (Mauritius), SCA (United Arab Emirates), CMA (Kenya) FSC, FSCA, ASIC, FSA SVG ASIC, FCA, DFSA, BaFin, CMA, SCB, CySec
Minimum deposit $5 $50 $0
Currency pairs 57 34 90
Floating spread EUR/USD, min pips 0.7 0.6 0.5
Floating spread EUR/USD, max pips 1.2 0.8 1.5
Go to broker Go to broker
Your capital is at risk.
Go to broker
Your capital is at risk.
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Your capital is at risk.

Why trust us

Independent analysis, real experts, and transparent methodology

  • 15+ years of independent market analysis

  • 140+ evaluation criteria, reviewed by 50+ experts

  • Data-driven reviews of 200+ platforms, updated regularly

  • 20+ industry awards & a wide network of global media partners

Learn more about our methodology and editorial policies.

why trust us why trust us why trust us why trust us why trust us why trust us

Expert Advice

Anton Kharitonov
Anton Kharitonov
Chief Analytics Officer

  • In my experience, a hallmark of a reliable broker is the ease with which you can verify its operations in your country. Many top-tier brokers provide detailed FAQs or interactive maps on their websites, clearly outlining the regions they serve. If this information isn’t readily available, contact their customer support directly. A reputable broker will have knowledgeable support staff who can clarify its regulatory status and geographic reach.

Editors' Top Picks and Insights

All news

Team that worked on the article

Andrey Mastykin
Andrey Mastykin
Head of Company Reviews and Ratings

Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform.

Learn about our editorial policies
Dan Blystone
Dan Blystone
Senior English Editor

Dan Blystone began his trading career in 1998 as an arbitrage clerk on the floor of the Chicago Mercantile Exchange (CME). He later traded bond and Eurex futures at proprietary firms such as Altea Trading, gaining valuable experience in high-frequency trading and risk management.

Chinmay Soni
Chinmay Soni
Head of Fact-Checking Department

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data.

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