XM Review


XM is a well-established broker since 2009. XM has headquarters in Australia, Cyprus, Greece and Hungary. They are generally well-suited for XM to provide their Forex/CFD trading services to global clients.


This broker has also been regulated by ASIC 443670, BaFin 124161, CNMV (Spain) 2010157773, CONSOB (Italy) 3046, CySEC 120/10, FCA (UK) 538324 and FSP (New Zealand) FSP235905. Simple yet detailed information upon this broker can be seen below.


Company Information

Website
www.xm.com

Established
2009

Country
Australia, Cyprus, Greece and Hungary

Regulation
ASIC 443670
BaFin 124161
CNMV (Spain) 2010157773
CONSOB (Italy) 3046
CySEC 120/10
FCA (UK) 538324
FSP (New Zealand) FSP235905

Features

Interest rate on funds

Bonus offers

Free education

Personal manager

Trading by telephone

Segregated accounts

Affiliate program

Islamic accounts available

Requires sending documents via postal mail

Account Information

This broker offers Micro, Standard, Islamic and XM Ultra Low. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by XM is up to 1:888. Meanwhile, you can open an account with a starting capital of $5

If you want to look for further information about this broker's offered account(s), please take a look at the list below.


Minimum Deposit

$5

Maximum Leverage

1:888

Spread

Variable

Commission

$3.50


Minimum Deposit $5

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, XM also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD and Oil for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:888

Gold & silver
1:888

CFD
1:100

Oil
1:100


Minimum Deposit $5

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, XM also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:888

Gold & silver
1:888

CFD
1:100

Oil
1:100

Cryptocurrencies
1:3


Minimum Deposit $5

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, XM also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD and Oil for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:888

Gold & silver
1:888

CFD
1:100

Oil
1:100


Minimum Deposit $50

Minimum Position 0.01 lot

Spread Variable

Scalping

Expert Advisors

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Instruments Traded

Besides lots of currency pair, XM also offers some instruments you would like to trade on, such as Forex and Cryptocurrencies for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.


Forex
1:500

Cryptocurrencies
1:3

Payment Methods

CashU : If you live in the Middle East, CashU is one of the most popular online payment services there. CashU is a digital wallet that allows clients to pay or transfer money online instantly and offer users its own pre-paid MasterCard with no absolutely additional fees attached. Introduced in July 2002, CashU has targeted the Middle East and North African markets where it serves close to 2.3 million customers. This is the reason why many of the forex brokers that are expanding in the North African and Middle East market accept CashU as one of their payment methods.

FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.

Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.

QIWI : Qiwi is an e-wallet or electronic payment service provider from Rusia that is introduced in 2007. The service is mainly used by individuals and businesses in Russia, Ukraine, Kazakhstan, Moldova, Belarus, Romania, the US, and the UAE.

Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.

WebMoney : WebMoney is one of the major online wallet services which many people use to send money around the world. For this reason, there is a large number of forex brokers that accept WebMoney today. Like other online payment services today, WebMoney is supported by mobile applications to make transactions more efficient.

Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.

XM also provides payment with Credit/debit cards, giropay, iDEAL, Moneta.Ru, paysafecard, SOFORT, UnionPay and Western Union

Trading Platforms

Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.

Hereby, XM offers you MetaTrader 4 and MetaTrader 5.

Customer Support

Do you have any question or find any trouble related to XM? If you do, you should reach XM's support to get the information that you need. Here is the detail of the broker's customer support:

Website Languages

Arabic
Chinese
English
French
German
Greek
Hungarian
Indonesian
Italian
Japanese
Korean
Malay
Polish
Portuguese
Russian
Spanish
Swedish
Thai
Turkish

Office
Support

Email
Support

Call
Support

Chat
Support

Extensive Review

Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).

XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.

In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second, strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.

Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage in the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.

To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit minimum starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. For trading volume, XM enables a condition similar to a Cent Account environment, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.

For deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their account via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.

XM also provides Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).

All in all, there is no doubt that XM has gone global with its deep commitment to providing trading service in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is also open to nearly all types of traders, from small capital traders to the more experienced ones with big deposit at the ready. Traders are even provided with Cent Trading environment should they choose to register under Micro Account.


Give Your Review and Rate This Broker



31 Reviews


P. Richard

Jul 21 2020

To ease your withdrawal process, make sure your trading account has been verified by XM. The verification process relates to your personal data agreement. Otherwise, any difficult withdrawal may be caused by an unverified trading account. For me, XM is good at all, including their deposit and withdrawal method. Good, XM!

P. Richard

Jul 21 2020

To ease your withdrawal process, make sure your trading account has been verified by XM. The verification process relates to your personal data agreement. Otherwise, any difficult withdrawal may be caused by an unverified trading account. For me, XM is good at all, including their deposit and withdrawal method. Good, XM!

Novrizal

Jul 21 2020

Trading at XM's Zero Account was pretty good. They give zero spread and low commission. I like it!

Mr. Zack

Jul 21 2020

I have no problem during trading at XM real account, but I suggest XM to consider a longer expiration time on demo account :D

R. Nimi

Jul 21 2020

Trading execution at XM is very good. They also help novices like me to understand forex trading through free webinars. I wish XM held their trading contest again :)

Kaiandra

Jul 21 2020

The trading platform at XM is very nice! I believe this is the most appropriate one for Indonesian traders! They offer MT4, MT5, even MetaTrader for web-trading. Nice work XM!

Ivanova

Jul 21 2020

I got confused during registering for my trading account. Fortunately, their customer service is fast-response and very helpful. Their trading condition and trading platform are also awesome. Thanks XM!

Cak Moestopo

Jul 21 2020

So far so good at XM. They have CS that is fluent at Indonesian, also deposit withdrawal method with a free commission. Broker joss lah!

Salam from Indonesia.

Evan S

Jul 21 2020

XM is very good for those looking for free trading signals. They also often held free online webinars. Unfortunately, they don't have an ECN account yet for traders.

Finn R.B

Jul 21 2020

I love trading at XM due to their commission-free deposit and several instruments offer, though their account verification is quite difficult *LOL XD

Syarif Z

Jul 21 2020

Hi, I'm from Indonesia. I also trade on XM and find out their customer care is very good for Indonesian. Mantapp!!!

W. Billie

Jul 21 2020

I tried to register a trading account XM and got no deposit bonus. After 2 weeks, I got a profit as much as USD108. I decided to withdraw for USD60 and it was accepted. Thank you, XM!

Demian

Jul 21 2020

I've traded on several brokers, but I think XM is the best due to their trading conditions. Nice work, bruh!

C. Lee

Jul 21 2020

I registered for my trading account at XM last year. I found their whole services are pretty good, especially their commission-free on deposit. But their spread is extremely unpredictable during news release. Be careful, traders!

Gabriel

Jul 21 2020

XM's website is very hard to load! I look for any bonus info but it takes for hours!

Shafeeya

Jul 21 2020

I feel so disappointed with XM regarding their leverage option. My trading account firstly used 1:888 leverage, but then it was changed to 1:100. Plus, they said my trading account will no longer available to get any bonuses from XM. I've sent my complain but they didn't give any responses yet,,

Zalandra

Jul 21 2020

I've been trading at XM for almost 7 years and had no much problem with them. But recently they changed their deposit withdrawal method with no longer using MasterCard. This made me confuse sooo much!! Whyyy??!!

Mr. Pawww

Jul 17 2020

I used to trade on zero account, but recently I moved to ultra-low trading account. I think it doesn't matter on what account is used. The most important one is money management. I love XM because their withdrawal process is quite great.

Lyly

Jul 17 2020

I'm XM's client for these several years. Recently, their customer service gives slow responses to any troubles. Plus, their website is difficult to access. I have almost moved my trading account to other brokers.

Georgie

Jul 17 2020

I've been trading at XM for almost a year, and everything goes well. I always withdraw my balance per month.

Ashley

Jul 17 2020

I do trading forex using a few balances. My friend suggests me to register at XM and it's quite good so far. I don't find any notable problems with XM. Nice!

Zaheera

Jul 17 2020

My first trading at XM was quite good, but it went worse even more. It's hard to do deposit or withdrawal. That's why I don't have much balance at my account that often. I hope they can improve their service for the clients.

Felicia

Jul 17 2020

I'm new at XM. I chose XM because they have many leverage offers. It's good for a novice like me

Abby

Jul 17 2020

I got my passive income from XM rebate program. It can be withdrawn weekly, so it's good as my additional shopping budget :D

Patricia

Jul 17 2020

I joined on their roadshow at Indonesia last year. It was so great and useful for me! Thankyou XM!

Abraham

Jul 17 2020

Though XM has so many customers, their customer care is incredibly great! Two thumbs up for you!

Regina

Jul 17 2020

I do agree that XM is one of the well-regulated forex brokers for traders! Cheers to you!

Berliana

Jul 17 2020

One thing I love most from XM is their regular trading event. I even can't miss them once. It's always good and awesome!

Cathy

Jul 17 2020

Hi, I'm new at trading forex. I want to share my trading experience at XM. Before being a part of this broker, I was trading at other brokers since 2017, but their commission and payment method for deposit withdrawal isn't my type. Finally, I chose XM at the end of 2018. To this day, I am so satisfied with XM's services, especially their regular webinar event. You guys have to trade on XM!

Elena

Jul 17 2020

It's good to trade on XM. They have lots of trading competitions. One of them was even prized as much as $11,000 for the winner! WOW! I'm gonna join it sooner! Thankyou XM!

Matthew

Jul 16 2020

I'm so disappointed with XM. I did a withdrawal on May 28th, 2020 but it wasn't sent to my bank account until June 10th. Better you trade on other brokers. XM ISNT GOOD AT ALL, IT'S SCAM!