Is XM regulated in Panama?
No licence from the Superintendencia del Mercado de Valores de Panamá (SMV) among the 7 XM entities we confirmed. XM holds licences from FSC Belize (8557558), CySEC (120/10), DFSA (F003484), FSCA (FSP 49976), CMA Kenya (233), FSC Mauritius (GB23202700) and FSA Seychelles (SD190).
Facts checked 29 Oct 2026 on XM's own site and the regulators' registers. Information only, not advice.
The licence check, in one table
- Local regulator
- Superintendencia del Mercado de Valores de Panamá (SMV)
- Licence valid in Panama
- None among the entities we confirmed
- Company that serves you
- Not published by XM for Panama; your sign-up documents name the company
- XM's licences
- FSC Belize 8557558CySEC 120/10DFSA F003484FSCA FSP 49976CMA Kenya 233FSC Mauritius GB23202700FSA Seychelles SD190
- Local rules
- The SMV licenses brokers in Panama and warned in July 2026 about firms that are not authorised to do business in forex or CFDs.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail CFD accounts lose money. See the full XM review and our Panama page.
3 brokers to check in Panama
From the brokers we review that are open to traders in Panama, then by TFB Score.
FP Markets reviewTFB Score 92/100
IG reviewTFB Score 92/100
Pepperstone reviewTFB Score 92/100
Frequently asked questions
Short answers, from the facts shown on this page.
Is XM regulated in Panama?
No licence from the Superintendencia del Mercado de Valores de Panamá (SMV) among the 7 XM entities we confirmed. XM holds licences from FSC Belize (8557558), CySEC (120/10), DFSA (F003484), FSCA (FSP 49976), CMA Kenya (233), FSC Mauritius (GB23202700) and FSA Seychelles (SD190).
Which regulator oversees forex brokers in Panama?
Superintendencia del Mercado de Valores de Panamá (SMV). The SMV licenses brokers in Panama and warned in July 2026 about firms that are not authorised to do business in forex or CFDs. You can check a firm on its register: https://supervalores.gob.pa.
Which XM company would open my account in Panama?
Not published by XM for Panama; your sign-up documents name the company.
Which brokers should I look at in Panama?
FP Markets, IG and Pepperstone, from the brokers we review that are open to traders in Panama, in order of licence and TFB Score.
Forex trading at these brokers is done through CFDs (contracts for difference): you trade on the price moving up or down, without owning the currency itself.Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money. Read the full risk warning