XM Review Is XM.com A Legit Broker Or Another Scam

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Contents

Which broker is the best forex broker?

Those who think XM is a scam just had a lousy time trading, they made the wrong move or didn’t have a good luck selling, and it happened while they were using XM , just as it happens with many forex brokers. So, if they had a bad time while using XM , they’ll blame XM for it when XM had nothing to do with it. XM has been a forex broker praised by many traders for their quick and responsible customer support, excellent trading conditions, liquidity, and numerous bonuses and promotions.

About XM

XM forex made its way to put its mark in the trading network by offering unique features that not all forex brokers provide, like low spreads from 0 pips onward. Regarding minimum deposits, XM isn’t exigent with minimum deposits required to test their trading conditions. XM is registered under the umbrella company name of Trading Point of Financial Instruments Ltd. They have built their reputation in the corporate business through following their core mission which is to conduct their business transparently and professionally. XM broker is subscribed to the rules and regulations dictated by FI, FIN, BaFin, AFM, and CNMV. Another feature that adds liquidity to XM is the fact that XM has always succeeded its requirements of implementing speedy execution of orders in the market.

Should we trade in XM?

XM brokers offer a vast variety of features, different types of accounts and instruments to attract more clients. They also provide a wide range of trading platforms with support on various devices, each one suiting different kinds of trades, and providing a simple and intuitive interface. Having a strong educational base with varied types of materials, including webinars and courses, XM helps both experienced and beginner traders. So, if you want to get into the trails of forex trading, or looking for a new forex broker, XM should be a must-see in your list; and if you are not entirely sure, there are many of its features for you to see. Moreover, everyone can find XM office address, so there’s no worry.

XM Trading Platforms

XM covers Windows and Mac with its three platforms being the MT4 and MT5 MetaTrader platforms and its WebTrader platform . You can use MT4 and MT5 on Windows and Mac, with high support on mobile devices, like Smartphone and Tablet and its Web-based WebTrader , available in every platform with an internet browser. All of these platforms are an advantageous feature in XM if you are into working with few accounts at once, getting an advantage of XM different instruments.

XM Account types

XM offers three different types of account, covering the needs of its clients depending on what they are searching for, these are MICRO Accounts , STANDARD Accounts , and XM ZERO Accounts .

  • MICROAccounts has many base currency options, including USD, EUR and many more. Its contract size is one lot equal to 1000, and its minimum trade volume is 0.01. Spreads are as low as one pip. XM leverage goes from 1:1 to 1:888 spreads on all major pairs Available with a minimum deposit of 5 USD.

Click to learn more Micro Account here

  • STANDARDAccounts provides almost the same features as MICRO Accounts , but have a contract size of one lot equal to 100000, a maximum of 200 positions on open or pending orders per client and a minimum of 1,000 units in its trading volume. Can be opened with only 5 USD.

Click to learn more Standard Account here

  • XMZEROAccounts has USD, EUR or JPY as base currencies. XM spreads are as low as 0 pips, and traders can operate a minimum volume of 0.01. XM ZERO Accounts can be opened with a minimum investment of 100 USD.

Click to learn more Zero Account here

XM Bonus and Promotions

Bonuses and promotions are some of XM most attractive features. It offers plenty of promotions, making sure that your trading experience is different and better than with other forex brokers. Between XM promotions, you can find:

  • The XMTrading Bonus , available to all traders in the instant they open an XM Real Account for the first time. It is a 30 USD trading bonus that allows users to test the quality of XM execution in a real trading environment, without worrying about investment risk (Or not that much). This bonus is available to be claimed as soon as you are done creating your account, it will be credited to your account, and it will be removed as quickly as you withdrawn profits for the first time.
  • Zero Fees above 200 USD; According to XM Zero Fees Policy , XM has made sure to cover all deposits and withdrawal fees above 200 USD processed by wire transfer.

Get XM bonus Here

  • Any trader who can or it’s maintaining a minimum amount of 5,000 USD (or its equivalent in other currencies) can request XM’s Free VPS service from the Member Area and enjoy the XM VPS . Linking to XM VPS allows traders to remotely connect to XM Virtual Private Servers located in London, near their data center, and enjoy trading without worrying about natural factors that could ruin your ability to trade, like a low internet connection.
  • XMLoyaltyProgram is also available as soon as you sign up. Every time you make a trade at XM , it gives you XM Points ; these points can be redeemed for credit bonus rewards. Everyone who creates a Real Account starts in the “Executive Level,” trading and earning XM Points will automatically upgrade your status until and so on until you reach a new level, each new level, the amount of XM Points you earn per lot increases, allowing you to receive XM Points at faster rates. The more, the better, after you have tons of XM Points , you’ll be able to redeem credit bonus rewards.

Conclusion

XM is an established broker, known to be reliable and highly professional at what it does. It aims to make your trading experience unique through all its features and bonuses, and proportionate help to its users with their interactive, friendly and helpful customer support, available 24 hours, five days a week. With all these said, why aren’t you trading at XM already? If you still have doubts, try the free XM demo account.

XM Review 2020 and Technical Opinions

by filippo | Mar 14, 2020

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Did you search XM review to figure out XM’s real value?

Would you like to fully understand if XM is reliable or if it’s a scam?

Do you want to find out everything you can do with XM, expert opinions, and user reviews?

In this XM review, you’ll find everything you need to dispel any doubt, including our feedback on XM, both practical and technical, after years of experience on the platform.

The best thing you could is to open a free demo account to try out first-hand the XM platforms, to be able to fully follow this review.

One of the foremost things to note about XM, or any other trading broker, is just how important trust is in the relationship with traders.

This is obviously something that XM.com also takes very seriously.

They want to ensure that there is never even anything close to an XM forex scam headline, and they conduct themselves in a manner which ensures that will not happen.

Is XM a scam? Is XM reliable? XM review and legal opinions

XM trading company undertake many steps to ensure that they are completely transparent and trustworthy with their traders. This includes regulation in several jurisdictions under financial regulatory bodies whom are recognized as some of the toughest in the world.

Added to this, XM broker has been offering services worldwide since 2009 to a customer base which has expanded greatly over the years, and continues to do so.

This leads us to surmise that there is absolutely no possibility of XM being a scam operation.

When I make a deposit to XM, where does my money go?

Due the regulatory requirements already mentioned, which are imposed upon XM, an XM deposit is sent to a top-tier financial institution for placement in a segregated account.

This account is one which is completely transparent, and to which the company personnel have no direct access.

Is XM regulated? XM Regulations – XM license opinions

XM is globally regulated by a number of the most well-respected regulatory bodies in world finance. These include, CySEC in EU, ASIC in Australia, and IFSC in Belize.

This is in addition to the up and coming financial hub of Belize, where many operations are based to allow more flexibility for traders.

Overall, comparative to other brokers in the industry, XM forex traders can be pleased with the compliance of the broker. They are regulated in both developed and emerging nations, and hold a strongly positive compliance record within these areas.

How to check the XM licenses

XM broker licenses can be reviewed directly through the sites of the regulatory bodies where they are overseen. These can be found in the following locations.

  • CySEC (EU) (120/10)
  • ASIC (Australia) (Ref: 443670)
  • IFSC (Belize) (60/354/TS/19)

What type of broker is XM? XM technical opinions

Whilst many may presume this means they are working against the interests of traders, they are actually very well-known and respected in the industry for the fair approach we they take, and the lower minimum requirements they offer in terms of deposit and spread on many occasions can facilitate new traders in entering the industry.

XM are also one of the top no ESMA brokers. This gives traders much improved freedom to trade with increased leverage and conditions.

How does XM profit?

XM broker, like many others, profit from a marginal increases in the spread which they offer traders.

This is somewhat offset by the commission-free trading environment which is offered on XM.com.

XM forex trading, particularly for new users, often works out as better value than some brokers who may charge commission. This is particularly true at smaller trading levels.

XM have legal offices in the following locations:

Cyprus (HQ)
12 Richard & Verengaria Street,
Araouzos Castle Court,
3rd Floor, 3042
Limassol, Cyprus

Australia
Level 13, 333 George Street,
Sydney, NSW 2000, Australia

Belize
No. 5 Cork Street,
Belize City,
Belize, C.A

XM
  • Regulated: ASIC, CySEC, IFSC
  • Platforms: MT4, MT5
  • Min. Deposit: $5
  • Regulated: ASIC, CySEC, IFSC
  • Platforms: MT4, MT5
  • Min. Deposit: $5
Open Your Account!
(69.75% of retail CFD accounts lose money)
  • Regulations: Trading Point of Financial Instruments Pty Limited licensed by ASIC (443670); XM Global Limited by IFSC (60/354/TS/19); Trading Point Of Financial Instruments Ltd regulated by CySEC (120/10).
  • Type: Market Maker
  • Leverage: 888:1 (IFSC), 500:1 (ASIC), 30:1 (CySEC)
  • Min Deposit: $5
  • Platforms: MT4 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet), MT5 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet)
  • Headquarters: Trading Point Of Financial Instruments Ltd is headquartered in Limassol, Cyprus; XM Global Ltd is headquartered in Belize; Trading Point of Financial Instruments Pty Ltd is headquartered in Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, metals, and energies

PART 2 – XM Account Opening

What can you do with XM? XM features opinions

XM trading stretches across a total of 5 asset classes. This includes offering 57 forex currency pairs of all types. Major, minor, and exotic pairs are offered.

This broker has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms and this includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.

This is as many markets as offered by many other major brokers, and XM excels in its stock CFDs offering.

XM demo: how to open a free virtual account

Opening an XM demo account, collecting your login details, and downloading your choice of platform, funded with up to $100,000 virtual dollars to precisely recreate live trading, takes no more than a few minutes.

This can be completed with the most basic of personal information and you can get an inside look at what XM is really like to trade with.

XM Live: how to open a Live XM account

Opening an XM live account involves a few more steps than the demo account registration.

With that said, it is still a very easy and convenient process to complete. All you need to add are verification of your residence and identity. Both of these can be added online within a very secure and fast electronic process to allow you to get on with trading.

XM Deposits and Withdrawals – All the options

There are a variety of XM deposit options available for all traders. These include:

  • Bank transfers
  • Visa/MasterCard
  • UnionPay
  • Neteller
  • Skrill

Withdrawals are available through the same mechanisms, and all fees for both deposits and withdrawals are met by XM so long as the minimum deposit and withdrawal are satisfied.

XM minimum deposit

The XM forex minimum deposit is $5.

This applies to many of the XM deposit methods, and trading accounts. To know more, just visit our detailed XM minimum deposit guide.

XM Bonus and Offers

XM broker bonus is offered to all traders who register an account through the company, depending upon their country of residence. Traders who qualify for the XM.com bonus will be entitled to a number of bonus options. The first is a $30 no deposit required bonus.

In addition, there is a 50% deposit bonus on amounts up to $500, and a 20% deposit bonus on amounts up to $4500 or currency equivalent.

XM also run a loyalty program which offers seasonal bonuses to traders.

Please note that clients registered under the EU regulated entity of the Group, are not eligible for the bonus.

What type of trader are you?

69.75% of retail CFD accounts lose money

PART 3 – XM Review – Accounts, Conditions, and Fees

XM Account Types

XM trading offer 5 specific account types which are suitable for all types of trader’s deepening upon their style. These are:

  • the XM Micro Account
  • the XM Standard Account
  • the XM Zero Account
  • the XM Ultra Low Account
  • the XM Shares Account

Each account features slightly different characteristics, though the minimum deposit remains between $5- $100 (with the exception of XM Shares account which has a minimum deposit of $10.000), and with pips starting from as low as 0.6.

Please note that XM Ultra Low, XM Zero, and XM Shares account are not applicable to all entities of the Group, and will not be eligible to receive trading bonuses.

Commissions, Fees, Spread and Market Trading Hours on XM

XM offers commission-free trading throughout all of their accounts.

Spreads on all major currency start as low as 0.6pips. The average spread noted is between 1.5 – 1.7 pips on major currency pairs.

XM trading hours are between Sunday 22:05 – Friday 21:50 GMT, although some of the markets have different opening hours.

When it comes to non-trading fees, XM is also very reasonable. They do feature an inactivity fee, though this is lower than many brokers at just $5 per month after an inactive period of 90-days.

The broker does also charge varied rollover fees depending upon the markets which you are trading.

XM Islamic Account

An XM Islamic account option is available to those traders who require it. This can be activated through contact with customer support after initial registration.

XM Leverage

The XM broker maximum leverage depends on the entity you register in and the financial instrument traded.

  • Europe (CySEC) – 30:1 (500:1 for professional traders)
  • Australia (ASIC) – 500:1
  • Belize (IFSC) – 888:1

XM CFDs

Any XM broker review would not be complete without mention of their extensive offering in terms of CFDs.

These cross between multiple offerings in commodities, energies, metals, and indices, though by far the most extensive CFDs offered through XM broker are on stocks. The broker has more than 1,000 stock CFDs available.

This is more than adequate to please the needs of any trader, and an ideal starting point for those looking to break into CFDs trading.

XM Privacy Policy

XM broker does treat the privacy of its traders with the utmost seriousness. In order to best protect their traders, XM does implement a thorough privacy policy.

This privacy policy is comprehensive as with all major brokers. It is available for viewing in detail on the broker’s privacy policy section of their website.

69.75% of retail CFD accounts lose money

PART 4 – XM Trading Platforms Review

XM Trading Platform Review

XM is a Metatrader only broker.

This means they focus solely on the provision of MT4 and MT5 in all of its various formats.

XM MT4 and MT5

XM forex MT4 and MT5 are both offered in much the same format as with other brokers. This means the desktop versions of both platforms retain their fundamentally basis visual appearance, backed by the renowned and respected charting and customization capability for which the platforms are always recognized.

All of the major controls are managed from the top and left side toolbars, with the bottom collection of tabs available to chart open positions, the latest news, and alerts. Automated trading and strategy implementation through the well-known Metatrader EA function is of course also readily available.

As always though, focus remains on the platforms ability to chart more technical indicators and implement more drawing tools for use than any other. This has not changed. The center console is populated with chart windows which can be customized any which way, and the Market Watch feature displays the most popular markets to the left side with the most use of color visible on the platform.

XM Web Trader and Mobile

The web trader is visually a little more vibrant, but operational functionality remains much the same, with only a few less research options available to choose from when compared with its desktop counterparts.

Moving to mobile, and the platform again encompasses more technical capability than most every other third-party of proprietary trading platform in the industry. It is also easily navigable and the same application can be used to log in to you various MT4 accounts, just by changing the provider on the login screen.

Order execution is as always top-notch, and the all-round experience, whilst appearing basic on the eye, is anything but.

With hundreds of indicators and drawing tools available, and more being developed daily, a fast and secure execution procedure, and so many nuanced features and add-ons available as traders progress in terms of experience, it is easy to see why XM has kept faith in the industry’s most popular and dominant trading platform.

XM Tutorial: Where to find the best XM Guides

XM trading is complemented by the provision of a top-quality educational and research section. Here you can find a multitude of guides and useful material.

69.75% of retail CFD accounts lose money

PART 5 – XM Support, Research and Educational Material

XM Customer Support

XM customer support is thorough and available in three primary forms. These are, telephone based support, email, and a website based live chat service where you can connect almost instantly with a customer support agent.

The services and support offered function well, and provide up to date information in a fast and concise manner. All services are available on a 24/5 basis.

The XM broker website also features a wide-ranging FAQ section to answer any questions you may have without the need to contact support, or outside operational hours.

Research

XM.com provides an extensive selection of research materials which are almost exclusively developed by their own team of market analysts, writers, and experts. This ranges from the latest news, to more in-depth market reports, analysis, and technical reports on individual markets and sectors. These areas are often updated on a daily or weekly basis.

Furthermore, the broker provides signals, a comprehensive economic calendar, and a range of trading calculators which assist traders in determining precise values and costs.

These include a swaps calculator, and a pip value calculator alongside four others. The broker’s analysts also broadcast both daily and weekly technical analysis, news, and forecasts which can prove very informative and useful to traders in every category.

Educational Material

The educational material which can be found in the XM learning center encompasses a range of video guides, expertly scheduled and produced live webinars, and a broad selection of live seminars which traders can attend to improve their industry knowledge.

As mentioned, XM provide much of the forex news and analysis in their research section. This can also be utilized in parts as further educational materials.

XM Trading Academy

XM learning center is the educational hub of the broker, and one which they utilize to quite impressive impact.

Here you can find a range of basic video tutorials to guide you through every step of the way when setting up your account and using the Metatrader trading platform. These guides are concise and informative and will be especially welcomed by new traders who may otherwise be daunted by the new experience.

Also through the learning center, traders of all experience levels have the opportunity to accumulate new knowledge through the XM brokers live webinars.

These are delivered in 18 languages, 7 days a week, by a strong professional, global team of 36 instructors. This is a very impressive undertaking by the broker who also host a range of live forex seminars around the globe on an annual basis.

XM users, customers and bad reviews

Before moving on to our final opinion on XM, for completeness we want to give you the opportunity to read some comments and experiences written directly by other users. However, important prerequisites must be made:

WARNING: in the world of online trading, very often users who do not know how to operate professionally, and therefore lose money, vent their frustrations by giving bad reviews on the broker, reviews that have nothing to do with the quality of the broker in question.
WARNING 2: There have been many cases where non-professional rival brokers paid fake users to write false negative reviews on other brokers.

That said, it can still be useful to take a look at the direct reviews of other users, if for no other reason to understand what to pay more attention to when you start working with that broker.

You can read users and customers reviews on XM on TrustPilot and ForexPeaceArmy.

XM
  • Regulated: ASIC, CySEC, IFSC
  • Platforms: MT4, MT5
  • Min. Deposit: $5
  • Regulated: ASIC, CySEC, IFSC
  • Platforms: MT4, MT5
  • Min. Deposit: $5
Open Your Account!
(69.75% of retail CFD accounts lose money)

PART 6 – Final Thoughts and Opinions on XM

Following this exhaustive XM broker review, we hope to prove insightful in your decision making based on the objective facts which have been outlined in regard to the FX broker features and other factors related to the trading environment.

Finally, we will conclude with some of our own subjective opinions as to why or who should choose to trade forex through XM.com or the XM broker in general.

XM review, XM opinions and final comments

There is little doubt that XM is one of the major players in the forex broker industry. This is illustrated by the sheer number of global clients they have picked up within the last decade. This number is now close to 1.5m. With such a huge client base, there is also little debate about the fact that XM has to deliver in every possible way for traders.

This delivery means a platform which is trusted and transparent from the core, concise, and accurate in its execution, and which provides a service traders value. Thankfully for XM broker and its traders, these are all key area which they do succeed in.

Managing to provide in all of these key areas , in our opinion, is what sets XM apart from many other brokers as a major player within the industry, and one which will remain in its position for many years to come.

Why You Should Choose XM

There are a wide range of reasons why you may choose to trade with XM depending on your stage of development in the industry.

Beginning from the perspective of a new trader, XM delivers much of the ideal infrastructure you will require in order to hone, or further advance your trading skills and knowledge.

This is, a productive learning environment with the availability of quality educational resources, and an account structure which is accessible in terms of cost, developed in such a way as to support your growth through the stages.

As a more experienced trader, there are also attractive elements to XM trading and what they offer. XM is a broker regulated by multiple top-tier financial regulators all around the world, which means that XM customers could potentially access to higher leverage and the possibility of bonuses among other benefits. However, said benefits are not available under the European entity of the group.

Furthermore, with being positioned as a Metatrader only broker, you can be certain that you know and are experienced with the general trading platform setup. This should save valuable trading time and a learning curve which would be involved with picking up a new platform.

XM Reviews

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Reviews 81

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XM Group Review

Since it was founded in 2009, XM Group has grown to become one of the largest and well-established investment firms with more than 1,500,000 clients worldwide.

XM Group provides support for more than 30 languages, while it aims for 99.35% of all its trading orders to be executed in less than one second, with no re-quotes and no rejections.

With clients from more than 190 countries, XM Group offers a range of services including currency trading, CFDs, equity indices, precious metals, and energies. There are also more than 25+ secure payment methods available to traders, across 16 full feature trading platforms.

XM Group is a group of online regulated brokers. Trading Point of Financial Instruments Ltd was established in 2009 in Limassol, Cyprus and is regulated by CySEC with license number 120/10. Trading Point of Financial Instruments Pty Ltd was established in 2020 in Sydney, Australia and is regulated by ASIC with license number 443670. Trading Point of Financial Instruments UK Ltd was established in 2020 in London, United Kingdom and is regulated by FCA with license number 705428.

  • Used by 700,000+ traders
  • Established in 2009
  • Regulated by IFSC, CySEC, and ASIC
  • Min. deposit from €5
  • Inactivity Fee

To open a live account, you’ll need a minimum deposit of at least €5. Alternatively, XM Group offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 0), CySEC (Licence: 120/10), and ASIC (AFSL #443670). XM Group puts all client funds in a segregated bank account and uses tier-1 banks for this. XM Group has been established since 2009, and have a head office in Cyprus, Australia, and United Kingdom..

Before we dive into some of the more detailed aspects of XM Group’s spreads, fees, platforms and trading features, you may want to open XM Group’s website in a new tab by clicking the button below in order to see the latest information directly from XM Group.

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

What are XM Group’s spreads & fees?

Like most brokers, XM Group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on XM Group’s website. The colour bars show how competitive XM Group’s spreads are in comparison to other popular brokers featured on BrokerNotes.

XM Group
EUR/USD (Average: 0.7 pips) 0.1 pips + $10.00 0.13 pips + $5.00 0.1 pips
GBP/USD (Average: 1.1 pips) 0.1 pips + $10.00 0.49 pips + $5.00 0.1 pips
USD/JPY (Average: 1.1 pips) 0.1 pips + $10.00 0.25 pips + $5.00 0.1 pips
AUD/USD (Average: 0.8 pips) 0.2 pips + $10.00 0.27 pips + $5.00 0.2 pips
USD/CHF (Average: 2.3 pips) 0.2 pips + $10.00 0.64 pips + $5.00 0.2 pips
USD/CAD (Average: 2.9 pips) 0.2 pips + $10.00 0.47 pips + $5.00 0.3 pips
NZD/USD (Average: 3.6 pips) 0.3 pips + $10.00 1.1 pips + $5.00 0.3 pips
EUR/GBP (Average: 2.4 pips) 0.2 pips + $10.00 1.0 pips + $5.00 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, XM Group’s minimum spread for trading EUR/USD is 0.1 pips – which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with XM Group vs. similar brokers.

How much does XM Group charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with XM Group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $9.85. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .

XM Group XTB AvaTrade
Spread from : $ 1.00 $ 2.00 $ 7.00
Commission : $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 1.00 $ 2.00 $ 7.00
$1 more $6 more
Visit XM Group Visit XTB Visit AvaTrade

All fees/prices are for informational purposes and are subject to change.

What can you trade with XM Group?

XM Group offers over 261 different instruments to trade, including over 55 currency pairs. We’ve summarised all of the different types of instruments offered by XM Group below, along with the instruments offered by XTB and AvaTrade for comparison.

FX / Currencies XM Group XTB AvaTrade
# of forex pairs offered 55 48 59
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs XM Group XTB AvaTrade
# of commodities offered 15 21 16
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs XM Group XTB AvaTrade
# of stocks offered 160 1606 99
UK shares No Yes Yes
US shares No Yes Yes
German shares Yes Yes Yes
Japanese shares Yes Yes Yes
See XM Group’s Instruments See XTB’s Instruments See AvaTrade’s Instruments

What’s the XM Group trading experience like?

1) Platforms and apps

XM Group is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

XM Group also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

Still not sure?

2) Executing Trades

XM Group allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. XM Group allows you to execute a maximum trade of 100 Lot.

As a market maker, XM Group may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As a nice bonus, XM Group are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

XM Group also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by XM Group here.

Finally, we’ve listed some of the popular funding methods that XM Group offers its traders below.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • Islamic account

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller

3) Client support

XM Group support a wide range of languages including Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish.

XM Group has a BrokerNotes double AA support rating because XM Group offer over three languages

4) What you’ll need to open an account with XM Group

As XM Group is regulated by IFSC, CySEC, and ASIC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore XM Group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with XM Group you can visit their website here.

A Review & Guide to Trading with XM

XM Group is a group of online regulated brokers. Trading Point of Financial Instruments Ltd was established in Limassol, Cyprus and is regulated by CySEC with license number 120/10. Trading Point of Financial Instruments Pty Ltd was established in Sydney, Australia and is regulated by ASIC with license number 443670. Trading Point of Financial Instruments UK Ltd was established in London, United Kingdom and is regulated by FCA with license number 705428. Let us take a quick look at some of the basic features of this platform which are important to note when considering XM as an online broker.

Trading Systems

XM offer a variety of trading platforms, including Web Trader, MT4 and MT5. Web Trader is excellent due to the fact that a client can access real-time market information directly through the website without having the need to download any software. This is ideal for those with limited hard disk space or who wish to access their account through a smartphone.

MetaTrader 4 is one of the most popular systems currently in place. Not only are all prices and movements clear, but its user-friendly nature will vastly increase the performance of any trader. It should be noted that both manual and automatic trading options are available through MetaTrader 4.

Types of Accounts

The first level of trading account is known as their Micro trading account, which can be opened with $5. This is aimed at those who are learning the forex markets and wish to trade micro lots.

XM Group’s standard trading account represents the next level up. As the name suggests, this is the type that is primarily used by seasoned traders who are willing to expose themselves to a moderate amount of risk with standard lots. One of the primary differences with this account is that larger contract sizes are available.

XM Zero Accounts require a minimum deposit of $100 and offer spreads as low as zero pips, along with XM’s no re-quotes execution policy. It’s important to note that XM charge a total commission of $7 for every $100,000 traded on their Zero Account.

Demonstration accounts are also available. These are intended for those who wish to try out the platform before making an ultimate decision. Interestingly enough, no less than $100,000 dollars in virtual funds are provided. It should be mentioned that XM also offers Islamic accounts for those who wish to trade under the principles of Sharia law.

Spreads and Commission

As with most online Forex brokers, the spreads will depend upon the trading system and the type of account. Spreads can start as low as zero pips (on a zero spread account). An added benefit in regards to these pips is that fractional pricing is available; five digits are provided as opposed to the standard four digits offered in other sites. Both fixed and variable spreads can be chosen by the trader.

There are no commissions charged by XM. Instead, the company makes a profit on the spreads of the trades themselves. There are therefore no hidden fees and the gains (or losses) which a trader makes are quite real.

Underlying Assets

There are several different instruments that can be traded through XM. Some of the most popular are:

  • Forex
  • Stocks CFDs
  • Commodities CFDs
  • Precious metals CFDs
  • Energies CFDs
  • Equity Indices CFDs
  • Cryptocurrencies CFDs.

No EFT trading is supported by this platform.

Reliability and Efficiency

XM.com is considered by many to be one of the most reliable platforms available for those who wish to execute real-time trades (nearly 100% are completed in less than one second). There will be no re-quotes and all figures are as they stand upon the execution of a position. Due to the use of the previously mentioned trading platforms, there is little lag times between the observed prices and their actual market equivalents. However, this will partially rely upon the processing power of one’s computer and its connection speed.

Payment and Withdrawal Methods

XM Group accepts the most commonly used Local Payment Methods today including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc.

It should be noted that it’s currently not possible to use PayPal to deposit or withdraw funds.

Customer Support

XM boasts appreciable levels of client engagement and support. A live chat widget, email and telephone number are offered as standard to clients of all account levels. One of the most interesting features of this support is that (currently) XM provides customer service in no less than 20 different languages. Facsimiles are also able to be sent to four different numbers depending upon one’s physical location. These support services are only available from Monday through Friday. Any requests put forth during the weekend will be addressed on the next business day.

Conclusion

XM Group is quite a popular online broker for traders of all skill levels. Its primary benefits are the high reliability of trade executions, easily manageable platforms, and no order rejection.

Still, there are some downsides to be noted. As mentioned previously, the use of PayPal for money transfers is currently not supported. There is little difference (besides the risk and trading volume) of the three account types. Finally, the fact that customer support is only available from Monday until Friday may slightly aggravate some traders who wish to execute positions during the weekend. XM.com is nonetheless a powerful online Forex broker which should not be overlooked.

  • Written by Marcus Taylor
  • Founder & CEO

Marcus founded BrokerNotes in 2020 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. You can find more about BrokerNotes & Marcus here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.xm.com on 01/04/2020.

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