XM Review

4.7

 4.7/5

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

XM

Highlights

Established History: Founded in 2009, XM Group has over a decade of experience in providing forex and CFD trading services.
Global Presence: XM operates through four entities regulated by different authorities across the globe, including in Cyprus, Australia, Belize, and Dubai.
Regulatory Compliance: XM is regulated by several prominent regulatory bodies, including CySEC (Cyprus), ASIC (Australia), DFSA (Dubai), and IFSC (Belize). Client funds are held in segregated accounts for added security.
Trading Platform Variety: XM offers the popular MetaTrader 4 and MetaTrader 5 platforms, accessible through various account types.
Competitive Fees: The broker features competitive fees across all major instruments with no deposit and withdrawal fees.
Educational and Research Support: XM provides strong educational and research support, including webinars, trading courses, and in-house research tools.
Low Minimum Deposit: The minimum deposit is just $5, making it accessible for beginner traders.
Customer Support: XM offers customer support in over 28 languages, available 24/5.

About

History: Established in 2009, XM has grown significantly and now serves a broad international clientele. The broker is known for its transparency and robust regulatory compliance.
Domicile: XM is headquartered in Cyprus, with offices in key financial hubs around the world.
Ownership: XM is a private company operating under multiple regulated entities to cater to a global audience.

Rating

4.7

 4.7/5

Review By

Brendan Walsh

Seasoned macro trader, managed billions from the Credit Crunch to COVID-19 and everything in between. Traded most assets you’ve heard of and a few you haven’t, and still alive to tell the tale. A student of history, markets, and psychology and a lover of risk and weirdness.

Overview

XM Group offers a wide range of trading instruments, including forex, stock, index and commodity cfd’s, along with crypto for some clients.The broker provides access to the MetaTrader 4 and MetaTrader 5 platforms, ensuring a versatile trading environment suitable for both beginner and advanced traders. XM stands out for its competitive fee structure, strong educational resources, and comprehensive customer support.

Category	Details
Tradeable Assets	Forex, Indices, Commodities, CFD's, Cryptos are available for customers onboarded under XM Global Limited entity.
Min Deposit	$5
Forex Majors Spread	Starting from 1.6 pips (e.g., EUR/USD
Regulators	CySEC (Cyprus), ASIC (Australia), DFSA (Dubai), IFSC (Belize)
Trading Platforms	MetaTrader 4, MetaTrader 5, XM App
Funding Methods	Bank transfer, Credit/Debit Card, E-wallets (Skrill, Neteller, etc.)
Currency Pairs	55 pairs including majors, minors, and exotics
Available Leverage	Up to 1:1000 (IFSC), up to 1:30 (ASIC, DFSA, CySEC)
Broker Type	No dealing desk
Founded	2009
Country	Headquartered in Cyprus with multiple global entities
Free Demo Account	Yes
Clients Accepted	Global, with some regional restrictions
Pricing System	Spread-based with some accounts offering commission-based pricing
Inactivity Fee	Yes

Introduction

Pros:

Extremely low minimum deposit ($5)
No deposit and withdrawal fees
Strong educational and research resources
Multiple account types with Islamic account options
Wide range of supported languages for customer support
Social and Copy trading features

Cons:

Non-EU investors do not have access to investor compensation schemes
Limited range of markets and platforms
Some account types and features are not available under all entities
High spreads on certain instruments like Tesla stocks

History of XM

Founded in 2009, XM Group has established itself as a prominent forex and CFD broker. Over the years, it has expanded its services and regulatory coverage, ensuring high levels of trust and security for its clients. The broker operates under several regulated entities, providing a wide range of trading instruments and educational resources.

Where does XM Operate

XM Group operates globally, offering services in numerous countries. However, it does not accept clients from certain regions, including the United States, Canada, Israel, and Iran. The broker provides localized services and support in multiple languages to cater to its diverse clientele.

XM operates under four entities regulated by:

CySEC (Cyprus): Tier 1 regulator, providing strong client protection and compensation schemes up to €20,000 or 90% of the claim.
ASIC (Australia): Tier 1 regulator with stringent regulatory standards.
DFSA (Dubai): Tier 2 regulator ensuring a robust regulatory environment.
IFSC (Belize): Tier 3 regulator, offering high leverage and less stringent regulatory oversight.

All entities offer negative balance protection and segregate client funds from company funds.

Investment Offering

XM provides a diverse range of investment opportunities:

Forex Trading: 55 currency pairs including majors, minors, and exotics. Competitive spreads starting from 1.6 pips.
Commodities: Includes spot metals like gold and silver, as well as commodity futures for products like sugar, wheat, and corn.
Indices: Access to 24 indices including major global indices like the S&P 500, Nikkei 225, and DAX.
Stocks: 1261 share CFDs from various global markets, including the US, EU, UK, Brazil, and Canada.
Cryptocurrencies: CFDs on cryptocurrencies available under certain entities.

Trading Platforms

XM offers the following platforms:

MetaTrader 4 (MT4): Widely popular for its ease of use, extensive technical indicators, and automated trading capabilities.
MetaTrader 5 (MT5): Advanced platform with more features than MT4, including additional order types and improved charting tools.
XM App: Mobile trading app available for iOS and Android, providing access to account management, trading, and market analysis on the go.

Additional Tools:

Economic Calendar: Keeps traders informed about upcoming economic events and their potential impact.
Market News: Real-time news feeds and updates.
Technical Analysis: In-house and third-party analysis tools, including trade ideas and technical summaries.
VPS Hosting: Free VPS hosting for eligible traders, ensuring low latency and uninterrupted trading.

XM Account Types

XM offers multiple account types to cater to different trading needs and preferences. The account opening process is fully digital and can be completed quickly through the website.

XM Account Types and Their Benefits:

Account Feature	Micro	Standard	XM Ultra Low	XM Zero
Minimum Deposit	$5	$5	$5	$5
Spreads From	From 1.0	From 1.0	From 0.6	From 0.0
Commission	None	None	None	$3.5 per $100,000
Instruments	FX, Commodities, Indices, Stocks	FX, Commodities, Indices, Stocks	FX, Commodities, Indices, Stocks	FX, Commodities, Indices, Stocks
Base Currencies	Multiple options	Multiple options	Multiple options	USD, EUR, JPY
Leverage	Up to 1:1000	Up to 1:1000	Up to 1:1000	Up to 1:1000
Margin Call	50%	50%	50%	50%
Stop Out	20%	20%	20%	20%
Swap Free	Yes	Yes	Yes	Yes
Minimum Volume	0.01 lots	0.01 lots	0.01 lots	0.01 lots

Demo Account: XM offers a demo account for traders to practice and familiarize themselves with the trading platform and strategies without risking real money.

Islamic Account: XM provides an Islamic Account option for each account type, adhering to the principles of Sharia law by offering swap-free trading conditions.

Accepted Countries

XM provides services globally but has specific regional restrictions. XM accepts clients from the European Economic Area (EEA)c, under MiFID passporting, Switzerland, and South Africa. It also provides services to institutional clients in countries like Mauritius, Seychelles, Belarus, and Belize. However, XM does not offer its services to residents of the United States, Canada, Israel, and Iran, among other countries, due to regulatory constraints. Prospective clients should always verify their eligibility on XM’s website.

Copy Trading Features

XM Copy Trading allows clients to let experienced traders handle the trading while they enjoy the results. Over 100,000 clients have already joined the platform, benefiting from the expertise of seasoned Strategy Managers.

Key Features

Copy Tested Strategies for Free: Clients can select Strategy Managers and copy their trades at no cost. When the Strategy Managers profit, clients also earn and pay a fee from their earnings. The ability to copy multiple strategies helps diversify portfolios.
Earning Potential for Strategy Managers: Experienced traders can share their strategies with tens of thousands of investors and earn up to 50% profit share. This feature provides an incentive for skilled traders to contribute their strategies to the platform.
Community Engagement: XM boasts a thriving community of over 10 million traders. This allows users to ask questions, explore new opportunities, get trading ideas, and share best practices. The community aspect enhances the overall trading experience by facilitating interaction and knowledge sharing.
Wide Selection of Strategies: With over 4,000 strategies available, users can easily find strategies that suit their trading preferences using smart filters. The platform is accessible on desktop, iOS, and Android, ensuring flexibility and convenience. Over 150,000 trades are executed on the platform daily, highlighting its robust activity and user engagement.

Getting Started

XM Copy Trading is user-friendly and straightforward to get started with:

Create and Verify Your Account: The first step involves creating an account and completing the verification process.
Sign Up as an Investor or a Strategy Manager: Users can choose to either invest by copying strategies or share their own strategies as a Strategy Manager.
Copy Successful Strategies or Share Your Own: Investors can copy successful strategies, while Strategy Managers can share their expertise and earn a profit share.

Deposit & Withdrawals

XM aims to provide a seamless and efficient experience for funding and withdrawing from trading accounts. The company offers a variety of convenient payment methods with no deposit and withdrawal fees.

Deposit Methods:

Bank Cards: Visa and Mastercard are accepted for instant deposits with no fees.
E-wallets: Popular e-wallets such as Skrill and Neteller are available for instant deposits with no fees.
Bank Transfer: Traditional bank transfers are available, though processing times may be longer compared to other methods.
Other Methods: XM also supports local payment methods depending on the client’s country of residence.

Withdrawal Methods:

Bank Cards: Funds can be withdrawn to Visa and Mastercard with no fees.
E-wallets: Skrill and Neteller are available for instant withdrawals with no fees.
Bank Transfer: Available for larger withdrawals, typically processed within 2-5 business days.

Additional Considerations:

Processing Times: Most withdrawal methods are processed within 24 hours.
Verification: Clients may need to complete a verification process before withdrawing funds to ensure security and compliance.
Currency Conversion Fees: XM does not charge currency conversion fees, but clients should be aware of possible fees from their bank or payment provider.

XM Spread and Commissions

XM employs a spread-based fee structure with competitive spreads and no deposit or withdrawal fees. The broker also charges commissions on certain account types.

Spreads:

Variable Spreads: Spreads are variable and depend on market conditions and liquidity.
Examples: EUR/USD spreads start from 1.0 pips in the Micro and Standard accounts, and from 0.6 pips in the XM Ultra Low account.

Commissions:

Standard and Micro Accounts: No commissions are charged.
XM Zero Account: Charges a commission of $3.5 per $100,000 traded in addition to the spread.

Swap Fees:

XM charges swap fees for holding positions overnight. These fees vary depending on the instrument and market conditions. The broker provides a swap calculator on its website for traders to calculate potential costs.

Currency Conversion Fees:

XM does not charge currency conversion fees, but clients should be aware of possible fees from their bank or payment provider.

XM Fee’s and Costs

XM is transparent and competitive with its non-trading fees. The broker does not charge any deposit or withdrawal fees, which is a significant advantage for traders looking to maximize their capital. However, XM does impose an inactivity fee. If there has been no activity in the trading account for 90 days, a fee of $5 per month is charged. This fee structure makes XM appealing to both active traders and those who may take occasional breaks from trading.

Unique Features

XM offers several unique features to enhance the trading experience for its clients:

User-Friendly Mobile App: XM provides a proprietary mobile app with an intuitive interface, suitable for traders on the go.
Advanced MT4 and MT5 Platforms: Both platforms offer advanced functionalities, including automated trading capabilities and a wide range of technical indicators.
Comprehensive Research Materials: XM offers in-house analysis, trade ideas, and technical summaries, providing actionable insights for traders.
Negative Balance Protection: Ensures that clients cannot lose more money than they have in their accounts.
Segregated Funds: Client funds are held in segregated accounts to ensure they are protected in case of financial difficulties.
Free VPS Hosting: Available for eligible traders to ensure low latency and uninterrupted trading.

XM Regulation and Security

XM operates under four entities regulated by different authorities, providing a robust regulatory framework to ensure client protection and compliance.

Regulated Entities:

Trading Point of Financial Instruments Ltd: Regulated by CySEC (Cyprus), a Tier 1 regulator.
Trading Point of Financial Instruments Pty Limited: Regulated by ASIC (Australia), a Tier 1 regulator.
XM Global Limited: Regulated by IFSC (Belize), a Tier 3 regulator.
Trading Point MENA Limited: Regulated by DFSA (Dubai), a Tier 2 regulator.

Client Protections:

Segregated Funds: All entities segregate client funds from company funds.
Negative Balance Protection: Ensures clients cannot lose more than their account balance.
Compensation Scheme: Clients of Trading Point of Financial Instruments Ltd benefit from a compensation scheme covering losses up to €20,000 or 90% of the claim, whichever is lower.

Research and Education

XM provides extensive research and educational resources to support traders of all experience levels.

Research:

Market Analysis: Includes technical analysis, forex previews, market comments, special reports, and stock market news.
Trading Ideas: Provides specific trade ideas and technical summaries.
News Feed: Features a news feed from Reuters, keeping traders updated on market developments.
XM TV and Podcast: XM TV offers daily video commentary, while the Global Market Insights podcast provides regular market analysis.

Education:

Live Education: Offers live webinars in 19 languages, covering topics for beginners and advanced traders.
Trading Courses: General trading courses and MT4 tutorials are available.
Forex Webinars: Regular webinars available in multiple languages to enhance trading knowledge and skills.

Customer Support

XM offers comprehensive customer support through multiple channels, ensuring traders can get assistance whenever needed.

Support Channels:

Live Chat: Available 24/5 for instant support.
Phone Support: Direct phone support for immediate assistance.
Email: Allows for detailed inquiries and communication.
Multilingual Support: Support is available in over 28 languages, catering to a global audience.

Support Services:

Technical Assistance: Helps with platform issues, login problems, and other technical difficulties.
Account Management: Provides guidance on account opening, verification, deposits, withdrawals, and other account-related matters.

Trading Support: Offers assistance with trading conditions, order types, and platform functionalities.

The Bottom Line

XM presents a comprehensive trading environment suitable for both beginner and advanced traders. Its strengths lie in its competitive spreads, a variety of account types, strong regulatory framework, and extensive research and educational resources. The broker’s low minimum deposit makes it accessible for new traders, while advanced traders can benefit from the XM Zero Account’s tight spreads and commission-based pricing.

Pros:

Low minimum deposit of $5
No deposit and withdrawal fees
Comprehensive educational and research resources
Multiple account types with Islamic options
Competitive spreads and fee structure
Strong customer support in multiple languages

Cons:

Non-EU investors do not have access to investor compensation schemes
Some features and account types not available under all entities
High spreads on certain instruments like Tesla stocks

Overall, XM is a suitable choice for:

Global Traders: XM caters to a wide range of international clients with its regulatory licenses and localized services.
Forex and Commodity Traders: Competitive spreads and a wide selection of instruments make XM attractive for traders focused on these markets.
Traders Seeking Advanced Features: Access to MetaTrader platforms, comprehensive research tools, and educational resources offer additional value and flexibility.
Traders of All Experience Levels: The combination of low minimum deposits, strong educational support, and multiple account types makes XM suitable for both beginners and experienced traders.

Others

Explore XM, a top-tier broker offering forex and CFDs on commodities, indices, metals, energies, stocks, and cryptocurrencies. With competitive fees, advanced MetaTrader platforms, and robust research tools, XM is ideal for both beginners and experienced traders. Regulated by CySEC, ASIC, DFSA, and IFSC, XM ensures client fund safety with segregated accounts. Start trading with a minimum deposit of just $5 and benefit from strong educational support. Discover more about XM’s offerings and find out why it’s a preferred choice for traders worldwide

XM Review

XM

Review By

Brendan Walsh

Overview

Introduction

History of XM

Where does XM Operate

Investment Offering

Trading Platforms

XM Account Types

Accepted Countries

Copy Trading Features

Key Features

Getting Started

Deposit & Withdrawals

XM Spread and Commissions

XM Fee’s and Costs

Unique Features

XM Regulation and Security

Research and Education

Customer Support

The Bottom Line

Others

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