Is XM legal in India?
Forex trading by Indian residents is tightly restricted under RBI/FEMA rules. Only INR-based currency derivatives on regulated exchanges (NSE/BSE) are permitted; trading with offshore forex brokers is discouraged by the RBI and can breach FEMA.
XM does not hold a SEBI / Reserve Bank of India licence specifically for India in our records, so Indian clients are typically served through XM's international/offshore entity. That means you rely on that entity's regulation rather than local India protection — check which entity you're signing up with.
XM's regulation
Trading Point group — regulated by CySEC (Cyprus), ASIC (historically), DFSA (Dubai), FSC (Belize), FSCA (South Africa). Many retail clients via the offshore entity (Belize).
For Indian traders
Before you trade from India
Laws change and are enforced differently — this is general information, not legal advice. Always confirm the current rules with SEBI / Reserve Bank of India and verify which XM entity serves India. Trading Forex/CFDs is high-risk and can lose all your capital.
XM in other countries
Update history
- 2026-08-01
Availability and local-regulation context reviewed.