XM

Audit Summary: The entity operating as "XM" for this specific license is registered locally as XM ZA (Pty) Ltd (or Key Way Financial (Pty) Ltd). They hold an active license with the South African Financial Sector Conduct Authority (FSCA) under the FSP number 49976. A comprehensive scan of the FSCA enforcement databases over the strict 3-year look-back window reveals a clean compliance sheet for the actual firm. Notably, while the FSCA issued a public warning regarding WhatsApp scammers impersonating XM ZA, there are no regulatory actions, fines, or warnings against the broker itself. Under the TFN Scoring Standard, the FSCA is categorized as an Offshore/Other regulator. Because XM does not currently present verified, active third-party compensation coverage strictly tied to this specific entity license, they rely entirely on local banking segregation rules. Final Score: 10/15. Scoring Breakdown: Compliance History (10/10): The broker retains the perfect baseline score of 10 points. No Major, Moderate, or Minor infractions were documented against the entity on the FSCA's official regulatory enforcement register within the strict 3-year look-back window. Financial Protection (0/5): Awarded 0 points. The FSCA falls outside the Tier 1 classification (FCA, ASIC, CySEC) that mandates statutory protection. Because there is no active third-party independent external dispute resolution (EDR) compensation fund tied strictly to this license, standard segregation of client funds applies, which does not qualify for protection points under the strict TFN standard. Audit Conclusion: XM ZA (Pty) Ltd presents a standard offshore/regional regulatory risk profile under its FSCA license. While the firm maintains an immaculate recent official compliance record in South Africa, retail clients trading under this specific license are technically operating in a "protection vacuum". In the event of catastrophic broker insolvency, clients must rely entirely on standard banking segregation rules, as there is no Tier 1 statutory compensation fund or third-party EDR safety net available to them.

Manual Audit - 06/07/2026

Audit Summary: The entity operating under the "XM" brand for this specific license is registered as Trading Point MENA Limited. They hold an active license with the Dubai Financial Services Authority (DFSA) under the license number F003484. A comprehensive scan of the DFSA enforcement records reveals a clean compliance sheet; there are no documented fines, warnings, or disciplinary actions against this entity within the strict 3-year look-back window. Under the TFN Scoring Standard, the DFSA is categorized as an Offshore/Other regulator. Furthermore, XM is explicitly not registered with the Financial Commission (FinaCom) for third-party compensation coverage, meaning it relies entirely on standard client fund segregation without statutory safety nets. Final Score: 10/15. Scoring Breakdown: Compliance History (10/10): The broker retains the perfect baseline score of 10 points. No Major, Moderate, or Minor infractions were documented on the DFSA's official regulatory enforcement register within the strict 3-year look-back window. Financial Protection (0/5): Awarded 0 points. The DFSA falls outside the Tier 1 classification (FCA, ASIC, CySEC) that mandates statutory protection. Because XM does not maintain active membership with an independent external dispute resolution (EDR) body like FinaCom or provide verified private excess loss insurance tied strictly to this license, standard segregation of client funds applies. This baseline industry requirement does not qualify for protection points. Audit Conclusion: XM (Trading Point MENA Limited) presents a standard regional regulatory risk profile under its DFSA license. While the firm maintains an immaculate recent compliance record in Dubai, retail clients trading under this specific license are technically operating in a "protection vacuum." In the event of catastrophic broker insolvency, clients must rely entirely on standard banking segregation rules, as there is no Tier 1 statutory compensation fund or third-party EDR safety net available to them.

Manual audit 06/07/2026