Yes, there are limits on leverage if the account balance is larger than 20,000 dollars.

Please refer to the below.

$5 – $20,000 1:1 to 1:1000
$20,001 – $100,000 1:1 to 1:200
$100,001 + 1:1 to 1:100

You will receive a notification if your leverage will be decreased.

XM may also contact you in case your trading strategy involves higher risks and they need to lower your account’s leverage, which not by according to the account balance.

If you have any concerns over your trading strategy or account settings, please contact XM support team.

XM Official Website

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