Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% 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.
Bottom Line Summary
For most traders, XM is an excellent choice because it is a well-known international broker with a sizable customer base and a solid reputation. It offers some of the best research and education in the sector, some of the lowest fees, and a user-friendly trading interface. Additionally, it boasts an exceptional selection of trading tools and offers prompt and knowledgeable customer service.
A market maker broker with strong regulatory oversight, XM offers trading on more than 1000 assets, including more than 57 Forex pairs. With spreads of 1.7 pip (EUR/USD) on its Standard Account and 0.8 pip (EUR/USD) on its Ultra-Low Account, trading conditions are average when compared to other brokers in a comparable industry. All account choices have a $5 USD minimum deposit requirement, which is reasonable and suitable for new traders.
Traders can be confident that they will be treated fairly because XM is governed by CySEC in Europe. They receive automatic negative balance protection, and their savings are segregated at premier banks.
Deposit and Withdrawal
Mobile Trading App
Markets and Products
XM broker features
Withdrawal fee amount:
Inactivity fee charged (Y/N):
Number of instruments:
Time to open account:
1 business day
Demo account provided (Y/N):
Countries of regulation:
Forex, CFDs, Stocks, Commodities, Energies, Precious Metals, Equity Indices
XM pros and cons
Meta Trader MT4 and MT5 platforms
Excellent and engaging research materials
Negative Balance Protection
A global outlook – regulatory framework includes ASIC and CySec
Founded in 2009, XM offers a trustworthy trading platform and fast execution, with 99.35% of all trading orders executed in less than one second, with no re-quotes and no rejections. The broker has offices in Cyprus, Australia and Greece, and offers more than 25 secure payment methods along with 16 trading platforms. More than 30 languages are supported, making this a truly international broker.
There are no broker fees at XM.
XM trading fees are reasonable and transparent with no hidden costs and tight spreads on most instruments. The broker offers variable spreads and fractional pip pricing, ensuring the best prices from its liquidity providers and allowing clients to benefit from the smallest price movements.
Forex spreads start from 0.0 pips, with the average spread for EURGBP being 0.0002 and for USDJPY 0.016.
XM CFD fees
XM offers reasonable fees on a range of assets that can be traded as CFDs, including stocks, commodities, energies, precious metals and equity indices. Spreads are as low as 0.1 on stock CFDs, 0.003 on commodities CFDs, and 0.3 on cash indices.
XM inactivity fees
The XM inactivity fee is known as a ‘dormant fee’ and is imposed on accounts that are inactive for 90 days, as long as they have a free balance in the account.
XM rollover fees
XM debits or credits clients’ accounts with rollover fees when a trade is kept open overnight. Although there is no rollover on Saturdays and Sundays when the markets are closed, banks still calculate interest on any position held over the weekend. To level this time gap, XM applies a three-day rollover strategy on Wednesdays.
“XM Group (XM) offers its clients 4 types of account: MICRO, STANDARD, ZERO and ULTRA LOW with low spreads. The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5. The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5. The XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $5. XM ZERO account has a $3.5 commission per $100,000 traded. Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has minimum initial deposit of $5. XM Ultra Low and XM Zero accounts are not applicable to all entities of the Group.“
— XM Group —
How to open your broker account
Account opening is simple, and there is a demo account available. Initial registration takes around two minutes. You will simply need to fill in your details and select the type of account you want, along with your preferred trading platform.
Deposit and Withdrawal
How long does it take to deposit?
All deposit methods are instant, except for bank transfers, which will depend on the bank being used.
Withdrawal fees and options
There are no broker-levied fees on deposits or withdrawals, and clients have a range of options available, including multiple credit cards, electronic payment methods, bank wire transfer, local bank transfer, and other payment methods.
How long does it take to withdraw money?
Withdrawals are processed within 24 hours on business days.
How do you withdraw money?
In order to withdraw funds, your trading account must be validated, so make sure that you have uploaded your documents in the Members Area. You can then request a withdrawal by logging in to the Members Area, selecting the Withdrawal tab, and sending a withdrawal request. XM will only send your withdrawal back to the original source of deposit.
Web trading platforms available
XM offers a choice of trading platforms, including MT4 and MT5 WebTrader, MT4 Multiterminal and MT4 and MT5 for PC and Mac. All trading platforms support the use of automated trading and EAs.
XM provides a good choice of user-friendly platforms for traders using any device. MetaTrader enthusiasts will be happy to see that both MT4 and MT5 are available. The XM app also allows easy mobile trading from almost any mobile device, and there is the choice to use the MT4 or MT5 app if you prefer. There is a wide variety of chart indicators, and it is easy to open and close positions, with almost immediate order execution and no re-quotes.
There are more than 30 supported languages, including English, German, Italian, Spanish, Dutch, Turkish and Malay.
The following types of orders are available:
Buy Limit (an order to purchase a financial instrument at or below a specified price).
Buy Stop (an order to buy a financial instrument, which is entered at a price above the current offering price; it is triggered when the market price touches or goes through the buy stop price).
Sell Limit (an order to sell a financial instrument at a specified price or better).
Sell Stop (an order to sell a financial instrument when it reaches a certain price).
It is also possible to attach a ‘Stop Loss’ and/or ‘Take Profit’ to any pending order.
Mobile Trading App
Mobile trading is available via MT4 and MT5 apps for iPhone, iPad and Android. There is also a proprietary XM App for iPhone, iPad and Android.
Markets and Products
XM offers more than 1,000 instruments with CFDs available in multiple asset classes. Clients can trade via CFDs when trading:
While there is a great range of assets available, XM does not provide trading in cryptocurrencies, bonds, or mutual funds.
XM provides trading in more than 55 currency pairs, including a good range of majors and minors.
The XM Mirror Trader platform allows investors to instantly benefit from the buy and sell signals of professional traders, copying them to their own trading accounts, and executing copied trades manually, semi-automatically, or automatically.
XM provides excellent research and education, including a Markets Overview, News Feed, Trade Ideas, Technical Summaries and an Economic Calendar. XM TV and the broker podcast keep clients up to date on market analysis. An education portal provides forex webinars, platform tutorials and trading education videos.
XM offers responsive customer service in multiple languages, and can be contacted by phone or email. The support desk is open 05:00-19:00 GMT, five days a week.
The majority of the content in XM’s education area is video. You can delve deeply into a variety of subjects, including technical analysis, money management, and an introduction to financial markets. There are multiple lessons available to XM subscribers alone in each chapter.
In addition to these recorded lessons, they also provide live instruction both online and offline for people of all expertise levels. You may also create a sample account to practice with.
XM is generally considered a safe broker. It is regulated in Cyprus and the UK and offers negative balance protection.
Is XM regulated?
XM is fully licensed and regulated by CySEC and the FCA.
Verdict: Is XM right for you?
XM is a great broker for those wishing to trade CFDs in multiple asset classes all under one roof. Is XM good? To answer this question, we conclude that yes, XM offers many attractive features, and is, in our opinion, the best broker when it comes to the choice of trading platforms.
Alternatives to XM
AvaTrade – Best for client protection
Naga – Best for copy trading
FXTM – Best for types of account
SpreadEx – Best for number of markets
Libertex – Best for range of assets to trade
How to sign up to XM?
Simply go to the broker site and click on ‘Sign up’. The initial registration process takes two minutes. You will then need to verify and fund your account.
Does XM offer any bonuses?
No. Sign-up bonuses are not permitted under CySEC.
Is XM good for beginners?
Yes, the broker offers an intuitive platform and an educational portal for beginner traders.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% of retail investor accounts lose money when trading CFDs with this provider.
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