XM Review

XM is a well-established broker since 2009. XM has headquarters in United Kingdom, Cyprus, Germany, Spain, New Zealand, Australia, Italy, Belize, European area and France. XM to provide their Forex/CFD trading services to over 4 million clients.

This broker has also been regulated by FCA (UK) 538324, CySEC 120/10, BaFin 124161, CNMV (Spain) 2010157773, FSP (New Zealand) FSP235905, ASIC 443670, CONSOB (Italy) 3046, IFSC (Belize) 000261/309 and ESMA.

As a result of being regulated by CySEC, clients can benefit from negative balance protection. This means that it is impossible for any client to lose more than the amount they have deposited with XM. As per the regulator rules, XM clients' funds are also protected up to €20,000, to award depositors who lose their accounts due to XM's failure. For more information, let's take a look at the table below:

Major Information

Account Information

Apart from the forex demo account, 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.

There are 3 main account types available at XM, plus Islamic swap-free accounts:

• Micro: The minimum initial deposit in the Micro account is $5. The minimum trade size is 0.01 lots. Spreads are variable at this account type. Micro Account offers mobile trading, automated trading, one-click trading, pending orders, and trailing stops. Overnight rollover fees are reduced for frequent traders with swap rates. This account allows for Expert Advisors, hedging, scalping techniques, and plenty of other strategies.
• Standard: The minimum initial deposit is $5 and the minimum trade is 0.01 lots, same as Micro, making the account attractive to beginners. Standard type offering variable spreads across a wide range of markets. You can manage risk with trailing stop losses and pending orders. Many reviews suggest the best part of Standard type is the range of additional resources, such as one-click trading, mobile trading, automated trading, Expert Advisors, and scalping plus hedging strategies. Note that this account charges swap.
• Islamic: The minimum deposit requirement is $5. Islamic account promises variable spreads. Users can use scalping or hedging methods, Expert Advisors, trailing stop, pending orders, one-click trading, mobile trading, and automated trading.
• XM Ultra Low: The minimum payment is $50 with minimal trade of 0.01 lots. Ultra Low option offers variable spreads across major Forex pairs. The account does offer mobile trading, automated trading, one-click trading, trailing stop, and pending orders. Traders can analyze markets and price dynamics using Expert Advisors. Hedging and scalping also allowed. Swap will be charged on positions that are carried over into the next day.

Here are the leverage and total equity that XM offers:

Even though XM provides comprehensive tools, it is still lacking when compared with other brokers, as Autochartist, Trading Central, and TradingView are not yet integrated.

Broker
Autochartist	✗	✗	✗
Trading Central	✗	✓	✗
Trading View	✗	✗	✗

Min Deposit

$5

Max Leverage

1:888

Spread

Variable

Commission

$3.50

If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:

• Micro
• Standard
• Islamic
• XM Ultra Low

💲 Min Deposit $5

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

🕛 Overnight interest rates (swaps)

⏱ Trailing stop

⏳ Pending orders

1️⃣ One-click trading

⚡ Automated trading

💸 Commission

Fees

XM is transparent with its fees. In order to see what trading at XM will cost, you can read below:

• Forex Fees
  - Ultra-Low Standard Account spreads starting as low as 0.6 pips for EUR/USD and USD/JPY, while other currency pairs have higher mark-ups, ranging closer between 1.5 pips and 2.0 pips for the most traded currency pairs and well above that for minor and exotic ones.
  - The commission-free Standard account offers spreads at around 1.6 pips with an average of 1.7 pips or $17.00 per 1.0 standard lot for EUR/USD.
• Stock Fees
  Commission starting from $0.04 per share is applied to US stocks, twice as high better-priced options, but the minimum cost of $1 per transaction ranks among the lowest. For the UK and German shares, the minimum stock fee $9 and $5 per order.
• CFD Fees
  Spreads start at 0.7 pips for the S&P 500 and approximately $0.30 and $0.03 spreads for the gold and silver respectively. XM lists WTI Crude Oil with a minimum of 0.04 pips and the minimum price fluctuation as 0.01 pip or $1.00. For corn, both values are 0.0275 and $0.04.
• Non-Trading Fees
  There are no internal deposit or withdrawal charges, but traders may face third-party costs. XM covers costs for deposits and all bank wire levies from XM banks on deposits above $200. Traders may still pay charges levied from their banks. XM also lists the potential of currency conversion fees in its terms and conditions without specifying them. An inactivity fee applies after twelve months of dormancy with a one-off deduction of $15 and a monthly charge of $5.

Typical round trip costs on leading pairs EUR/USD are 0.8 pips in the XM Zero account. XM charges an account inactivity fee of $5 per month after 90 days but no additional fees on deposits or withdrawals except where an amount of less than $200 is moved by wire transfer. Other charges include overnight swap fees, which is usually a net charge applied to every trade daily.

Assets	Fee level	Fee terms
S&P 500 CFD	Low	The fees are built into the spread, 0.7 points is the average spread cost during peak trading hours.
Europe 50 CFD	Low	The fees are built into the spread, 2.6 points is the average spread cost during peak trading hours
EURUSD	Low	With Standard, Micro, and Ultra Low accounts the fees are built into the spread. 1.7 pips is the Standard account's average spread cost during peak trading hours. With XM Zero accounts, there is a $3.5 commission per lot per trade and a small spread cost.
Inactivity fee	Low	A $15 one-off maintenance fee after one year of inactivity, followed by a $5 monthly fee if the account remains inactive.
US stock fee	Average	Available only for clients onboarded under IFSC. The commission is 0.04% with a $1 minimum.

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.

XM offering access to over a thousand instruments, including:

• More than 55 currency pairs and crosses, including exotic currencies.
• 1,200 different stocks from seventeen different national equity markets, including the USA, UK, Germany, Switzerland, Australia, and Russia.
• 8 soft commodities.
• 5 energies including natural gas.
• 2 metals, namely gold and silver.
• 18 major equity indices.

As for Micro account, XM specifically provides it with the following instruments and leverage:

Forex
1:888

Gold & silver
1:888

CFD
1:100

Oil
1:100

💲 Min Deposit $5

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

🕛 Overnight interest rates (swaps)

⏱ Trailing stop

⏳ Pending orders

1️⃣ One-click trading

⚡ Automated trading

💸 Commission

Fees

XM is transparent with its fees. In order to see what trading at XM will cost, you can read below:

• Forex Fees
  - Ultra-Low Standard Account spreads starting as low as 0.6 pips for EUR/USD and USD/JPY, while other currency pairs have higher mark-ups, ranging closer between 1.5 pips and 2.0 pips for the most traded currency pairs and well above that for minor and exotic ones.
  - The commission-free Standard account offers spreads at around 1.6 pips with an average of 1.7 pips or $17.00 per 1.0 standard lot for EUR/USD.
• Stock Fees
  Commission starting from $0.04 per share is applied to US stocks, twice as high better-priced options, but the minimum cost of $1 per transaction ranks among the lowest. For the UK and German shares, the minimum stock fee $9 and $5 per order.
• CFD Fees
  Spreads start at 0.7 pips for the S&P 500 and approximately $0.30 and $0.03 spreads for the gold and silver respectively. XM lists WTI Crude Oil with a minimum of 0.04 pips and the minimum price fluctuation as 0.01 pip or $1.00. For corn, both values are 0.0275 and $0.04.
• Non-Trading Fees
  There are no internal deposit or withdrawal charges, but traders may face third-party costs. XM covers costs for deposits and all bank wire levies from XM banks on deposits above $200. Traders may still pay charges levied from their banks. XM also lists the potential of currency conversion fees in its terms and conditions without specifying them. An inactivity fee applies after twelve months of dormancy with a one-off deduction of $15 and a monthly charge of $5.

Typical round trip costs on leading pairs EUR/USD are 0.8 pips in the XM Zero account. XM charges an account inactivity fee of $5 per month after 90 days but no additional fees on deposits or withdrawals except where an amount of less than $200 is moved by wire transfer. Other charges include overnight swap fees, which is usually a net charge applied to every trade daily.

Assets	Fee level	Fee terms
S&P 500 CFD	Low	The fees are built into the spread, 0.7 points is the average spread cost during peak trading hours.
Europe 50 CFD	Low	The fees are built into the spread, 2.6 points is the average spread cost during peak trading hours
EURUSD	Low	With Standard, Micro, and Ultra Low accounts the fees are built into the spread. 1.7 pips is the Standard account's average spread cost during peak trading hours. With XM Zero accounts, there is a $3.5 commission per lot per trade and a small spread cost.
Inactivity fee	Low	A $15 one-off maintenance fee after one year of inactivity, followed by a $5 monthly fee if the account remains inactive.
US stock fee	Average	Available only for clients onboarded under IFSC. The commission is 0.04% with a $1 minimum.

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 Crypto 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.

XM offering access to over a thousand instruments, including:

• More than 55 currency pairs and crosses, including exotic currencies.
• 1,200 different stocks from seventeen different national equity markets, including the USA, UK, Germany, Switzerland, Australia, and Russia.
• 8 soft commodities.
• 5 energies including natural gas.
• 2 metals, namely gold and silver.
• 18 major equity indices.

As for Standard account, XM specifically provides it with the following instruments and leverage:

Forex
1:888

Gold & silver
1:888

CFD
1:100

Oil
1:100

Crypto
1:3

💲 Min Deposit $5

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

⏱ Trailing stop

⏳ Pending orders

1️⃣ One-click trading

⚡ Automated trading

💸 Commission

Fees

XM is transparent with its fees. In order to see what trading at XM will cost, you can read below:

• Forex Fees
  - Ultra-Low Standard Account spreads starting as low as 0.6 pips for EUR/USD and USD/JPY, while other currency pairs have higher mark-ups, ranging closer between 1.5 pips and 2.0 pips for the most traded currency pairs and well above that for minor and exotic ones.
  - The commission-free Standard account offers spreads at around 1.6 pips with an average of 1.7 pips or $17.00 per 1.0 standard lot for EUR/USD.
• Stock Fees
  Commission starting from $0.04 per share is applied to US stocks, twice as high better-priced options, but the minimum cost of $1 per transaction ranks among the lowest. For the UK and German shares, the minimum stock fee $9 and $5 per order.
• CFD Fees
  Spreads start at 0.7 pips for the S&P 500 and approximately $0.30 and $0.03 spreads for the gold and silver respectively. XM lists WTI Crude Oil with a minimum of 0.04 pips and the minimum price fluctuation as 0.01 pip or $1.00. For corn, both values are 0.0275 and $0.04.
• Non-Trading Fees
  There are no internal deposit or withdrawal charges, but traders may face third-party costs. XM covers costs for deposits and all bank wire levies from XM banks on deposits above $200. Traders may still pay charges levied from their banks. XM also lists the potential of currency conversion fees in its terms and conditions without specifying them. An inactivity fee applies after twelve months of dormancy with a one-off deduction of $15 and a monthly charge of $5.

Typical round trip costs on leading pairs EUR/USD are 0.8 pips in the XM Zero account. XM charges an account inactivity fee of $5 per month after 90 days but no additional fees on deposits or withdrawals except where an amount of less than $200 is moved by wire transfer. Other charges include overnight swap fees, which is usually a net charge applied to every trade daily.

Assets	Fee level	Fee terms
S&P 500 CFD	Low	The fees are built into the spread, 0.7 points is the average spread cost during peak trading hours.
Europe 50 CFD	Low	The fees are built into the spread, 2.6 points is the average spread cost during peak trading hours
EURUSD	Low	With Standard, Micro, and Ultra Low accounts the fees are built into the spread. 1.7 pips is the Standard account's average spread cost during peak trading hours. With XM Zero accounts, there is a $3.5 commission per lot per trade and a small spread cost.
Inactivity fee	Low	A $15 one-off maintenance fee after one year of inactivity, followed by a $5 monthly fee if the account remains inactive.
US stock fee	Average	Available only for clients onboarded under IFSC. The commission is 0.04% with a $1 minimum.

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.

XM offering access to over a thousand instruments, including:

• More than 55 currency pairs and crosses, including exotic currencies.
• 1,200 different stocks from seventeen different national equity markets, including the USA, UK, Germany, Switzerland, Australia, and Russia.
• 8 soft commodities.
• 5 energies including natural gas.
• 2 metals, namely gold and silver.
• 18 major equity indices.

As for Islamic account, XM specifically provides it with the following instruments and leverage:

Forex
1:888

Gold & silver
1:888

CFD
1:100

Oil
1:100

💲 Min Deposit $50

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

🕛 Overnight interest rates (swaps)

⏱ Trailing stop

⏳ Pending orders

1️⃣ One-click trading

⚡ Automated trading

💸 Commission $3.50

Fees

XM is transparent with its fees. In order to see what trading at XM will cost, you can read below:

• Forex Fees
  - Ultra-Low Standard Account spreads starting as low as 0.6 pips for EUR/USD and USD/JPY, while other currency pairs have higher mark-ups, ranging closer between 1.5 pips and 2.0 pips for the most traded currency pairs and well above that for minor and exotic ones.
  - The commission-free Standard account offers spreads at around 1.6 pips with an average of 1.7 pips or $17.00 per 1.0 standard lot for EUR/USD.
• Stock Fees
  Commission starting from $0.04 per share is applied to US stocks, twice as high better-priced options, but the minimum cost of $1 per transaction ranks among the lowest. For the UK and German shares, the minimum stock fee $9 and $5 per order.
• CFD Fees
  Spreads start at 0.7 pips for the S&P 500 and approximately $0.30 and $0.03 spreads for the gold and silver respectively. XM lists WTI Crude Oil with a minimum of 0.04 pips and the minimum price fluctuation as 0.01 pip or $1.00. For corn, both values are 0.0275 and $0.04.
• Non-Trading Fees
  There are no internal deposit or withdrawal charges, but traders may face third-party costs. XM covers costs for deposits and all bank wire levies from XM banks on deposits above $200. Traders may still pay charges levied from their banks. XM also lists the potential of currency conversion fees in its terms and conditions without specifying them. An inactivity fee applies after twelve months of dormancy with a one-off deduction of $15 and a monthly charge of $5.

Typical round trip costs on leading pairs EUR/USD are 0.8 pips in the XM Zero account. XM charges an account inactivity fee of $5 per month after 90 days but no additional fees on deposits or withdrawals except where an amount of less than $200 is moved by wire transfer. Other charges include overnight swap fees, which is usually a net charge applied to every trade daily.

Assets	Fee level	Fee terms
S&P 500 CFD	Low	The fees are built into the spread, 0.7 points is the average spread cost during peak trading hours.
Europe 50 CFD	Low	The fees are built into the spread, 2.6 points is the average spread cost during peak trading hours
EURUSD	Low	With Standard, Micro, and Ultra Low accounts the fees are built into the spread. 1.7 pips is the Standard account's average spread cost during peak trading hours. With XM Zero accounts, there is a $3.5 commission per lot per trade and a small spread cost.
Inactivity fee	Low	A $15 one-off maintenance fee after one year of inactivity, followed by a $5 monthly fee if the account remains inactive.
US stock fee	Average	Available only for clients onboarded under IFSC. The commission is 0.04% with a $1 minimum.

Instruments Traded

Besides lots of currency pair, XM also offers some instruments you would like to trade on, such as Forex and Crypto 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.

XM offering access to over a thousand instruments, including:

• More than 55 currency pairs and crosses, including exotic currencies.
• 1,200 different stocks from seventeen different national equity markets, including the USA, UK, Germany, Switzerland, Australia, and Russia.
• 8 soft commodities.
• 5 energies including natural gas.
• 2 metals, namely gold and silver.
• 18 major equity indices.

As for XM Ultra Low account, XM specifically provides it with the following instruments and leverage:

Forex
1:500

Crypto
1:3

Payment Methods

Payment comparison between XM, IC Markets, and FxPro:

XM charges no deposit fees. However, electronic wallets such as Moneybookers, Skrill, and Neteller as well as credit cards and bank wire transfers charge $5 of the deposited amount. Moneygram and Western Union payments are also accepted.

Withdrawals can be made using the same methods. In fact, the deposit and withdrawal options are listed side by side on the website and a trader needs only click on "make a deposit" or "request a withdrawal". Please note that withdrawals via bank wire of amounts under $200 are subject to a $15 administration fee.

For the funding of trading accounts at XM, the broker has provided support for several methods of fund transfer:

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.

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.

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.

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.

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.

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.

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

FAQ About XM

Is XM a good broker?

What is the minimum deposit for XM?

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