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XM

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, FSP (New Zealand) FSP235905, 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.


Company Information

🌐 Website
www.xm.com

Year Established
2009

🌎 Country
AustraliaGermanySpainItalyCyprusUnited KingdomNew ZealandBelizeEuropean areaFrance

💼 Regulation

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

Apart from the forex demo account, this broker offers XM Ultra Low, Micro, Islamic and Standard. 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.
pin

Min Deposit

$5

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Max Leverage

1:888

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Spread

Variable

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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:



💲 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

📱 Mobile trading

Automated trading

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.

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.

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

Forex
1:500

Cryptocurrencies

Cryptocurrencies
1:3


💲 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

📱 Mobile trading

Automated trading

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.

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

Forex
1:888

Gold & silver

Gold & silver
1:888


💲 Min Deposit $5

💡 Min Position 0.01 lot

🔢 Spread Variable

📉 Scalping

🤖 Expert Advisors

💱 Hedging

Trailing stop

Pending orders

1️⃣ One-click trading

📱 Mobile trading

Automated trading

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.

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

Forex
1:888

Gold & silver

Gold & silver
1:888


💲 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

📱 Mobile trading

Automated trading

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.

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.

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

Forex
1:888

Gold & silver

Gold & silver
1:888

Cryptocurrencies

Cryptocurrencies
1:3

Payment Methods

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:

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.

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.

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.

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.

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



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.

  • MT4: XM offers the widely used MetaTrader 4 trading platform available on Mac as well as on mobile devices such as Androids and iPhones, iPads, and tablets. The easy-to-use platform caters to both novice and experienced traders and offers a range of customizable features, including over 100 Instruments including Forex, CFDs, and Futures, 1 login access to 8 platforms, spreads as low as 1 pip, full EA (Expert Advisor) functionality, 1 click trading, technical analysis tools with 50 indicators and charting tools and 3 different chart types.
    XM also offers the MT4 Multiterminal platform for traders wanting to handle multiple MT4 accounts from 1 single terminal with 1 Master Login and Password. As for the online solution, WebTrader 4, enables users to execute trades instantly from their PC or Mac with no download required. The browser-based terminal proposes the same features as the downloadable platform, such as 100 Instruments Including Forex, CFD’s and Futures, 1 single login access to 8 Platforms, spreads as low as 1 pip, 1 click trading, and built-in news functionality.

metatrader 4

 

  • MT5: As the successor to MT4, users benefit from a more professional experience with MT5 and additional capabilities, including different order types such as 'Fill or Kill' and 'Immediate or Cancel' as well as technical and fundamental analysis using over 79 analytical tools. The MT5 WebTrader provides the same functions as the desktop client but does not require downloading a trading terminal.

metatrader 5

 

Research and Education

AvaTrade has an exceptional research and education center. It may be the best one we’ve ever seen, complete with news and analysis on key markets and relevant geopolitical developments, including technical analysis performed on ed price charts. Forex, commodities, and stocks are also covered. 

Below are a handful of additional resources that can be found at XM's research and education sections:

  • Educational room is live trading rooms which clients may enter and participate in and see live markets traded in real-time.
  • Seven educational videos on a range of common Forex trading topics.
  • The list of video tutorials covers topics as basic as how to open a Forex account to how to use an MT4 Droid pad on the Mobile Trader app.
  • Account-holders can benefit from weekly webinars in 13 different languages.
  • Upcoming XM workshops and seminars.
  • Their economic calendar posts any upcoming events taking place in markets throughout the world.
  • There are market reviews, a Forex news report, and technical analysis that appear daily.
  • Free forex signals and forex calculators.

 

Bonuses and Promotions

At the time of writing, XM promotes:

  • Free VPS for clients who maintain a balance (Equity-Credit) USD 5,000 or currency equivalent.
  • $30 Non-Deposit Trading Bonus for new clients only.
  • 50% deposit bonus up to $500 and 20% deposit bonus up to $5,000.
  • XM Loyalty Program offers the clients XM Points (XMP) per lot traded. These XMP can be redeemed at any time for a credit bonus which can be used for trading purposes only.

Due to EU regulations, XM does not offer any Trading Bonuses and Loyalty Programs to retail traders within Europe.

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:

XM’s customer support team is available at different departments in several international locations via email, telephone, or live chat 24 hours a day, from Monday to Friday. The representatives speak in all the following languages: English, Greek, Japanese, Chinese, Bahasa Malay, Bahasa Indonesia, Hungarian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Korean, Portuguese, Czech, Slovakian, Bulgarian, Romanian and Dutch.

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. Trading in XM would be also provided with a 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 on 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 starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, 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 the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.

XM also provides an 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 services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.

For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.



FAQ About XM

Is XM a good broker?

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if XM is a good broker for you or not by reviewing the criteria. In general, XM provides trading service in Forex , Cryptocurrencies , Gold & silver , CFD and Oil . As for the payment methods, you can choose between CashU, Credit/debit cards, FasaPay, giropay, iDEAL, Moneta.Ru, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Western Union and Wire transfer. The customer support is available via Callback, Email, Live chat and Phone.


What is the minimum deposit for XM?

The starting capital in XM is $5.


Is XM regulated?

XM is regulated by ASIC 443670, BaFin 124161, CNMV (Spain) 2010157773, CONSOB (Italy) 3046, CySEC 120/10, FCA (UK) 538324, FSP (New Zealand) FSP235905, IFSC (Belize) 000261/309 and ESMA. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.


Is XM legit?

XM is a brokerage company offering trading services for clients since 2009 with offices in Australia, Cyprus, Greece and Hungary.


XM Articles

85 Reviews

Sandy
Taiwan Dec 23 2022

XM's fees and spreads are low, but some products are still high. When trading EUR/USD, Europe CFDs, and S&P 500 CFDs, we can see spreads as low as 0, with the exception of the European 50 CFDs during peak trading, which is a spread of 2.6 points. However, the S&P 500 CFD only charges 0.7 pips during peak trading hours. Recommended? For me, if you trade some instruments there. And remember, you need to find good instrument that suitable for you.

Imelda
Ukraine Dec 23 2022

Well managed and can trade many instruments in XM. But in terms of spreads, I think I can say that XM offers average fees which for me are still a bit higher. For example, they offer 1.7 pips (EUR/USD) on the standard account and 0.8 pips on the ultra-low account. What frustrates me is that their website says the spread is 0 without saying that you have to open another account to get that spread. So you must read well about the spread's condition What I can understand is that you only need $5 to open an account at XM

Jennifer
United States Dec 23 2022

In fact, the spreads they offer are competitive. If you compare it with another broker, XM can be classified as a low-spread broker. You will find it hard to find a broker like that. So, It offers 0 pips, no commissions, and no fractional pip spreads. It is in very good condition, especially for beginner traders. I recommend it for beginners if you want to find a broker with low spreads!

Jorge
Turkey Dec 23 2022

Please explain the deposit bonus well as I think you did not explain the terms and conditions well. Also, I think you don't have a convenient deposit and withdrawal policy. Also, you really want to hide some terms that we don't know about. If you want your rating to go up, please explain clearly and without hiding anything before showing yourself as a good broker! I was really feel cheated by you and I think other traders feel the same way. For example, you offer attractive spreads but the spreads are never the same as you mention on the website.

Mohd. Jafar
Nigeria Dec 23 2022

I feel scammed with no deposit bonus. I get bonus $50 and made profit a $400. So I began to withdraw, but after that they sent me email and I reachout to livechat. They said I just broke the rules of trading in terms of using deposit bonus. Why you dont explain it well in beginning? If you explain and EDUCATE ME AS TRADER with good EXPLANATION. I WILL NOT COMPLAINT and WASTING my time! Poor EDUCATION XM, so Poor!

Reid Geer
United States Dec 22 2022

I guess this is what you get from a long established broker like XM. The quality is really different compare to any other brokers I have ever tried before. Their customer service is really attentive towards me everytime I have a problem. They also have all kinds of bonuses which I never refused.

Parker Chavarria
Taiwan Dec 20 2022

I am a new trader and honestly, XM is the first broker I have ever tried. Already, I had a bunch of wonderful experiences with them. They gave me a welcome bonus to test the broker and it was amazing. I made 80$ as a profit from just 30$ welcome bonus without a deposit and I made a withdrawal request using an e-wallet of my choice. They processed it almost instantly and my arrive in my account in no time.

Marissa Hummel
Singapore Dec 20 2022

I submitted my withdrawal request in mid-November. But I haven't gotten any answers regarding this request. I guess I have been more than patient when it comes to waiting. The customer service didn't offer any useful advice or support at all. I am extremely tired of asking what should have been mine. Does this mean I will never see my money ever again?

Lan Emanuel
United States Dec 19 2022

I have been with this company for about 3 years and so far there haven't been any problems at all. My traders are always successfully executed and there is no that can cause me a lot of loss. But, there are several problems that I have to address. One of the most annoying ones is how customer support takes a long time to answer. I had something urgent last week and they took more than 48 hours to answer me. This is very frustating.

Brooks Watt
Taiwan Dec 16 2022

I guess I owe an apology to this company. I made a withdrawal request, but the money didn't show in my account until the next day. Of course, I panicked and tried to contact customer service. But unlucky me, it was the weekend. They answer me the next day. They calm me down and told me that there must be a problem with the systems. They suggested I submitted another withdrawal request. So, I decided to make another withdrawal and the money was in my account the next day. Thank you for the team who did a great job helping me during crisis.