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 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 client’s 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

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
ESMA

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, Islamic, Micro 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

Minimum Deposit

$5

pin

Maximum Leverage

1:888

pin

Spread

Variable

pin

Commission

$3.50

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



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

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


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

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


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

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


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

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 selected 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.




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 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

Give Your Review and Rate This Broker


These aspects are optional but will determine your review's reliablity


98 Reviews

Jasmine Bucker
Germany
Account Number: (65471xxx)
This review is half reliable

Mar 24 2022

One of the advantages of trading at XM for a scalper like me is that the spreads I can get are under 1 pip for the EURUSD pair. This facility is invaluable.

Ishkhan
United States
This review is not supported by evidence

Mar 23 2022

I saw some of my fellow traders who joined XM recently using new accounts and taking advantage of the NDB promotion facility. But apparently there was a problem with WD process even though the account was already profitable. Whereas what is withdrawn is the nominal profit, not the initial money from the NDB.

Bailey
Ukraine
This review is not supported by evidence

Mar 22 2022

The most confusing thing about XM is the naming of their account types. Sometimes I still can't distinguish the account name, just looking at the unit. LOL. For XM it might be simpler to just name the account. Just like standard, cent, mini, etc.

Stephanie
Argentina
Account Number: (54178xxx)
This review is half reliable

Mar 21 2022

I am using XM since 1 year ago. My only complaint is the withdrawal process. Several times my withdrawal process lasted for more than 3 days. The longest is 7 days. I got the money eventually in my account. But, the process that I had to fight for so that I got the money into my account was not comparable. Just waiting at the next 3 months. If I'm still experiencing the same thing, maybe I'll switch brokers and won't use XM anymore.

Viviene
United States
This review is not supported by evidence

Mar 18 2022

As a trader who has used XM for a long time, you can say that this broker is always ready to compete with other brokers. The latest innovations are continuously created and improved to maintain the credibility of the broker. The features available are also very useful and can be used by all types of traders.

Earle Burleson
Turkey
Account Number: (65123xxx)
This review is half reliable

Mar 18 2022

I have been trading with XM for about a year and a half. So, I can say that this is a really good broker. For starters, the account verification is very fast. The account profile is extremely straightforward. even if you have some problems during account creation or anything else, the customer support is very good and ready to help anytime you want. But do be careful, as far as I know, XM has two separate servers. Those are the xmglobal server and the xm server. This can be confusing, but again, you can always ask.

Hamza
Turkey
This post is an inquiry

Mar 16 2022

Is the XM bonus account still available? What are the terms and conditions for WD?

Robert C
Germany

Mar 17 2022

Hamza: XM is currently offering a no deposit bonus promotion of USD 30. Regarding the T&C and also the withdrawal mechanism, please refer directly to the official page.

Ali Faizan
Pakistan
This post is an inquiry

Mar 1 2022

I've made a deposit in my xm account, but haven't gotten it yet.

Jude Foster
South Africa

Mar 2 2022

Ali Faizan: If there is a deposit problem, immediately contact customer service. They will directly check your account and see if the deposit has been made or not. XM provides online chat and telephone support. You can send e-mail to support@xm.com or call them at +501 223-6696 (operational time 24/5 GMT)

Damien Forest
Singapore
Account Number: (213540xxx)
This review is half reliable

Feb 7 2022

I have never been more disappointed in my life before. I started trading with XM a while ago and recently deposit some funds into my account and it doesn't appear in my account. I thought it's gonna take a while so I waited, but it turns out it never appear. And while later I tried to check my account and I couldn't log in! What is happening? Was my account got deleted??

Dolores
Ukraine
Account Number: (5645198xxx)
This post is an inquiry

Feb 4 2022

So I have been trading with XM for a while now. I found that they are super accomodating, especially their customer service. They actually care a lot and are very patient. Of course, there is some catches, but I'm not here to discuss them. The problem in, I want to open a new account with XM. And I'm not sure if I should provide similar documentations as I did before (I already have an account).

Ellen Meyers
South Africa
This post is an inquiry

Jan 21 2022

XM has one of the best trading conditions I have ever had during my days of trading. I first started trading with them since I keep seeing them everywhere on my social platform (now I know it due to their heavy advertising). So far, they have processed my withdrawal smoothly with almost no problem at all. Although now I kinda want to branch out, and I want to know whether this broker offers a good margin for CFD trading.

Stevan
Indonesia
This post is an inquiry

Jan 9 2022

Which brokers are Indonesian traders most interested in? XM or FBS?

Pamungkas G
Indonesia

Jan 30 2022

Stevan: It seems that a lot of Indonesian traders use FBS. Same with Instaforex too. But Instaforex has a lot of complaints I heard.

Tjahya Utama
Indonesia

Jan 10 2022

Stevan: All the brokers that you just mentioned above are popular among Indonesian traders. And all these brokers have long been trusted by millions of traders in the country. Until now these brokers are still actively operating with a pretty good reputation. Still, we must be careful considering that licensed brokers abroad do not have strong regulatory security guarantees. Therefore, we advise you not to trade in large amounts (no more than USD 5,000) with offshore brokers.

FlorDeMayo
Singapore
This review is half reliable

Jan 5 2022

It's very rare to find broker that offer demo account with large amount of virtual money. I wonder can XM's virtual money be reset?

HeyBro19
Malaysia
This post is an inquiry

Dec 27 2021

Do you guys offer a cent account? Which one is better for scalping?

Pacifictrading
South Africa
This review is not supported by evidence

Dec 23 2021

I'm really glad they allowed scalping. However, they are not entirely slippage-free, so there is that. Regardless, they have pretty good conditions for regular trading.

Scott Amos
Nigeria
This post is an inquiry

Dec 20 2021

Does anyone know about the zero spread xm account? How much is the swap fee and how much is the commission?

Surya J
Indonesia

Dec 31 2021

Scott Amos: Does XM broker have an official office in Indonesia?

Neil Graham
Nigeria

Dec 29 2021

Scott Amos: Maybe you mean Ultra-Low account? Because for now, XM does not provide zero spread account types. For ultra-low accounts themselves, on the official page, it is stated that this type of account is free of commission.

Clockwork_6656
Switzerland
This review is not supported by evidence

Dec 13 2021

I'm a new trader and had just started using XM, they gave me a lot of bonus deposits and in my opinion, it can be a great kickstart.

Wanderer777
Singapore
This review is not supported by evidence

Dec 1 2021

For tips, this is a good broker if you had just started venturing. Customer service is really good and the platform is super easy to understand.

Editechnics
Australia
This review is not supported by evidence

Nov 22 2021

Sadly I don't have a good experience with this broker. I had to reach out for assistance before I could get my money out.

Scotty Beckham
Argentina
Account Number: (6745xxx)
This review is half reliable

Nov 18 2021

This is one of the best brokers for beginners in my opinion and not just because of their heavy promotions across social media. There are several reasons why I think new traders should try XM:

1. Good spreads, great for those who have just started venturing.

2. Customer support is very good and understanding, you can ask anything and they will reply fast.

3. Platform is very easy to navigate.

4. Educational material has really good quality! Great for those who want to learn more.

Tips: I wouldn't suggest being involved in any of their bonuses, schemes, IB, and so forth. Just plain straight trading and you will be fine. Applies to all brokers.

BadLuck_Trader405
Singapore
This review is not supported by evidence

Nov 11 2021

My friend said XM is more suitable for professional traders. But I disagree, the platform itself is very well managed and simple, so new traders like me can understand easily. They have good support too, so yay!

GregoryLouis
Ukraine
This review is not supported by evidence

Nov 1 2021

To be honest, this is a very good broker overall. But, I have some problem with the limit order, it has to place several pips away from the current price. That doesn't sit well with me since limit order is very basic features.

DimiTrio
United States
This review is not supported by evidence

Oct 22 2021

I have been using broker XM for 2 years and thank god I never run into problems. Very fast withdrawal too. So far I'm quite happy with their service.

Samual Bills
Singapore
Account Number: (76234xxx)
This review is half reliable

Sep 12 2021

I wouldn't say they are dishonest but I just want to remind new traders to be more careful during trading. Those who love to use high leverage should pay more attention. Especially with the spreads opened at night, every trade that is 200 pips away from the SL point becomes a stop. Meanwhile, The spread, which is 7 pips during the day, goes up to 100-200 pips at 00:00. I am not sure if this happened in all trading instruments, but they should definitely be more careful. I would suggest using small or no leverages and trading small lot.

Sophie Gold
Ukraine
This post is an inquiry

Jul 16 2021

I can't open a position on XM

Lauren Glen
France

Jul 27 2021

Sophie Gold: I've experienced this. I can't trade because I haven't completed the registration requirements for a bank statement ID card. The font was gray. Just ask CS, since it means that you cannot trade yet since there are conditions that you haven't met yet.

David Gollop
Switzerland

Jul 26 2021

Sophie Gold: 

If you look at the Market Watch column, chances are, you don't have access to trade on that account. It appears that all currency symbols in your Market Watch window are inactive. The following is an example of an active Market Watch symbol.

It can be seen that the active currency symbol will appear black (not gray) in the Market Watch window. If the cursor hovers over one of the symbols, it will say “Trade: Full” which means you have full trading access to the symbol for the pair. If you are using a bonus account or a deposit bonus account (or any other account that includes a promotional account from a broker), then there may be some trading requirements for your trading account. For example, you have to trade on certain days or hours, or you have to trade only on major pairs, or other requirements. Therefore, I recommend that you revisit the terms and conditions of the trading program you are participating in, or you can also contact customer support to get an explanation.

Lynn Clarke
United States

Jul 22 2021

Sophie Gold: You should choose first, at which level you want to open position. Box I circled need to be fulfilled first. In MT4 there is also an automatic one, just below it, you can click on sells/buys buttons.

Simon Black
Germany
This post is an inquiry

May 20 2021

Comparing spreads of XM and EXNESS, how many pips and how wide are the pips? Is there a commission too? How much is it per lot?

Jonathan Keeling
Pakistan

May 21 2021

Simon Black: For slippage during extraordinary conditions such as news releases with high impact, you can directly contact brokers' customer support. From the info I got, at XM, there are 4 types of accounts, namely micro accounts, standard accounts, XM ultra-low accounts and share accounts. Micro, standard and XM ultra-low accounts have no transaction commissions. While the account at Exness has 3 types of accounts: mini accounts, classic accounts, and ECN accounts. Mini and classic accounts have no commission while ECN accounts have a commission of $2.5 per 1 lot (25 USD per 10 standard lots).

Jeff Thompson
Switzerland
This post is an inquiry

Apr 5 2021

I want to ask about XM's ultra-low account.
1. Are XM Ultra-low accounts really has a lower spread than XM standard accounts?
2. Can XM Ultra-low accounts work on copytrade platforms like mql5 etc?
3. What does it mean that there is no protection against negative accounts on XM Ultra-low accounts? Does that mean our balance won't get an MC warning anymore but can be automatically minus?

Eleanor F
United States

Apr 19 2021

Giorgio Clementi: This ultra-low account is almost the same as a standard account, only the spreads applied to this account are relatively lower. 

Giorgio Clementi
Taiwan

Apr 13 2021

Jeff Thompson: This ultra-low account is similar to standard? Or mini or cent?

Andrea Webb
Turkey

Apr 12 2021

Jeff Thompson: 

1. I do not know directly about the technical conditions on real accounts. However, as the name implies, usually accounts that carry the ultra-low spread brand have relatively lower spreads compared to other account types.
2. Yes it can. For more info please visit the MQL5 page directly.
3. As the name implies, negative balance protection is a feature that will protect/prevent your account from minus/negative balances. This feature will save the trader from a minus balance. Also, this feature is useful to prevent the broker from losing too much. If there are traders/clients who experience minus balance, then of course the broker will also suffer losses and be negatively affected. That way, this feature has become a mandatory and standard feature in almost all brokers.

Philip Price
Indonesia
This post is an inquiry

Mar 1 2021

I want to join XM since it has a lot of bonus promos, but I need few pieces of information:
1. Is this XM broker an NDD or DD dealer?
2. For clients from Indonesia, which regulatory body regulates XM?
3. Has anyone used or have used XM? What's your experience?
4. For WD and Deposit, can I use local bank/internet banking/mobile banking?

Wayne Gamble
Indonesia

Mar 2 2021

Philip Price: 

1. This broker is that it is a hybrid broker.
2. I do not know for sure. However, if you look at the information from the official XM Indonesia, clients from Indonesia get regulations from CySEC and IFSC.
3. I personally have never traded with XM. However, this broker is already quite popular among Indonesian traders. You can easily find information and testimonials about this broker.
4. XM supports deposit/withdrawal methods via local bank transfers.

Nigel Bunn
Pakistan
This post is an inquiry

Dec 25 2020

If I want to be XM partner, usually there must be a requirement for traders to open and close orders, there is a difference between the time period and the time to get a commission. So, what are the conditions at XM brokers so I can get a commission? Thank you.

Clive Hibbert
South Africa

Jan 8 2021

Jon Clarence: no. Usually, these rules apply to all account types. But sometimes there are also some brokers who set different rules between standard accounts and other types of accounts.

Denis Fenton
South Africa

Jan 4 2021

Nigel Bunn: In order for the partner account to earn commission based on the results of the client's trades, usually broker sets additional rules such as there must be a gap of only two pips between the opening and closing. In other words, as long as the client's lots are closed above the specified minimum, it can be calculated for your commission.

Jon Clarence
Singapore

Jan 1 2021

Nigel Bunn: Does this depend on the type of account?

David Lewis
Australia
This post is an inquiry

Dec 10 2020

I want to try XM, but I don't have mobile banking, so the option is through Local Depositors. After I registered with LD, it turned out that there was no account/email verification from LD. Can LD be trusted?

Pamela Allen
South Africa

Dec 12 2020

David Lewis: After checking local depositors, there are some things that make me suspicious. The writing copyright in the lower-left corner is not updated, it's still 2017. The contact service still provides BBM. In fact, since May 31, 2019 BBM has been discontinued. The official site has not been updated since 2017. Based on the above considerations, I suggest you look for another method.

Ian Coop
Argentina
This post is an inquiry

Aug 17 2020

Thursday night I made a 200$ deposit on Thursday night, however until Saturday I haven't seen it deposited into my account.

Charles Martin
Taiwan

Jun 23 2021

Andrea Jones: Usually it takes 1x24h if you deposit via local bank.

Irum Majid
Pakistan

Jun 21 2021

Ian Coop: I top up $20 today and there is still no news

Andrea Jones
France

Aug 25 2020

Ian Coop: I deposit today on August 20, 2020 on my xm account but why my money hasn't been transferred yet?

Stephen Horsfall
Australia

Aug 24 2020

Ian Coop: Next time, try to deposit on weekdays and working hours. Just scan the transfer receipt and send it to CS or via e-mail.

Edward Day
Ukraine

Aug 20 2020

Ian Coop: Last Friday was a holiday, so the deposit and withdrawal process will be carried out during office hours (8 am) on Monday. If on Monday your money is not yet deposited, contact customer service immediately to submit a request.

P. Richard
Pakistan
This review is not supported by evidence

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
Germany
This review is not supported by evidence

Jul 21 2020

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

Mr. Zack
Australia
This review is not supported by evidence

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
South Africa
This review is not supported by evidence

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
Australia
This review is not supported by evidence

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
Turkey
This review is not supported by evidence

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
Nigeria
This review is not supported by evidence

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
United States
This review is not supported by evidence

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
Malaysia
This review is not supported by evidence

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
Nigeria
This review is not supported by evidence

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
France
This review is not supported by evidence

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
South Africa
This review is not supported by evidence

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
Ukraine
This review is not supported by evidence

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
India
This review is not supported by evidence

Jul 21 2020

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

Shafeeya
Switzerland
This review is not supported by evidence

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
Singapore
This review is not supported by evidence

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
India
This review is not supported by evidence

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
Nigeria
This review is not supported by evidence

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
Malaysia
This review is not supported by evidence

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
Ukraine
This review is not supported by evidence

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
Ukraine
This review is not supported by evidence

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
Switzerland
This review is not supported by evidence

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
Argentina
This review is not supported by evidence

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
India
This review is not supported by evidence

Jul 17 2020

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

Abraham
Argentina
This review is not supported by evidence

Jul 17 2020

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

Regina
France
This review is not supported by evidence

Jul 17 2020

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

Berliana
Switzerland
This review is not supported by evidence

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
Argentina
This review is not supported by evidence

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
Singapore
This review is not supported by evidence

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
Singapore
This review is not supported by evidence

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!

Raja W
Indonesia
This post is an inquiry

May 14 2020

How come I lose a lot of money as long as I have profited 200%. Re-entry and my money runs out immediately.

Nicholas Bell
Singapore

May 24 2020

Raja W: 

The screenshot that you have attached is not strong and clear enough to prove that the XM broker is cheating. You must be specific with clear evidence. Loss after 200% profit can be caused by various reasons, including personal entry error, requote, overtrading, large slippage gap, chart manipulation, SL has not been hit but has been closed.
I am not defending XM, but you should give clear receipt. I know someone who was fooled by chart manipulation during news release. To support his accusation, he submitted:

- screenshots from the broker chart. There are signs where long shadows are shown
- screenshots containing all the same pairs at 3 different brokers in the same pair and time frame screenshots of transactions before being manipulated (complete with SL positions)
- screenshots of transactions after being manipulated (loss SL)

He explained that the long positions he took earlier were taken at xx with stop loss placed at xx. However, when the news came out, his position was hit by SL due to the long lower shadow. After he compared it with his friend's chart, it turned out that the shadow that occurred was not as long as his friend's broker, there was a difference of about 25 pips more. In his friends' charts, the SL has not triggered yet and is still quite far away. He then looked for comparisons to 2 other brokers and the results turned out that both brokers were similar to a friend's broker who had no shadow as long as the scam broker.

Raja W
Indonesia

May 20 2020

Nicholas Bell: How about this?

xm

Nicholas Bell
Singapore

May 19 2020

Raja W: From what I read on several forums, the testimonials of XM broker users are still quite good. Complaints about cheating or unreasonable prices never happened. To evaluate whether the broker is fair or not, you need to give receipts such as screenshots of charts, accounts, and transactions. For example, in your case, after profit reaches 200%, it is necessary to take a screenshot of the account, trade positions, and charts to see if the loss is purely your miss or due to broker intervention.

Natalie Pryor
Canada
This post is an inquiry

Mar 27 2020

How do you calculate rebate for a micro and ultra low XM account? Why do I seem to get a small rebate all the time? What are the trading conditions to get XM rebate? How much should I trade?

Ryan Wakeford
Argentina

Mar 29 2020

Natalie Pryor: Rebates are usually calculated from the accumulated number of lots traded on the previous day's trading. To get a full discount, the broker usually sets an additional rule that the gap between the opening and closing prices must be only a few pips. However, there are also brokers who will not pay the rebate commission if these closing gap conditions have not been met. For more information regarding the amount of the rebate commission per 1 lot, as well as other conditions, please contact XM customer service.

Stephanie Pang
India
This post is an inquiry

Mar 22 2020

I have a plan to invest in 3 brokers:
1.fbs
2.octafx
3.xm
I plan to deposit $5000 to each broker. is it safe?

James Miller
Argentina

Mar 28 2020

Stephanie Pang: FBS and Octafx have regulations from offshore countries so they are less secure. XM \has regulations from FCA UK, ASIC and IFSC, so it's still worth trading 5000 USD there. IFSC is not recommended because it is from an offshore country. For the safety of your trading and funds, we recommend choosing a broker that is regulated by a trusted regulatory body, namely: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA. 

Vincent Howlett
Indonesia
This post is an inquiry

Feb 1 2020

I plan to trade with XM by depositing $1500. Is XM trustworthy? 

Wayne Finnie
Turkey

Feb 18 2020

Vincent Howlett: 

Open real accounts with CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA regulated brokers.

The brokers below are good because they have strict regulations and have a long history of forex trading.

IG (min deposit $300), Forex.com (min deposit $1,000), Oanda (no minimum deposit), Saxobank (min deposit $5,000), XTB (min deposit $250), Dukascopy (min deposit $1,000)

Those brokers are different from offshore regulations such as Cyprus, British Virgin Island, Vanuatu, Grendlines, Belize, etc. You can also check the detail of each broker above, including regulatory aspects, company history, to liquidity providers.

Vincent Howlett
Indonesia

Feb 17 2020

Wayne Finnie: What I don't like is how sneaky brokers are. When I chat with CS, they just ask me to follow the policy on client agreement, but then when I read, it's already newly updated. Things like this make me scared to deposit in huge amounts.

Wayne Finnie
Turkey

Feb 10 2020

Vincent Howlett: 

My experience using real and demo XM is no different. I personally can't say for sure whether XM will not cheat but my experience can be used as testimony that this broker is fair.

I've also experienced the same as you, from widening spread, manipulating SL and TP, and so on. I personally have tested more than 10 brokers for this, and it was proven that some brokers are scams so I never used them again. Even some brokers are too "rude" in dealing with it, such as too long requotes, or positions that cannot be opened at the time of profit.
There is a small number of honest brokers who just pay their profitable clients and don't cheat. Your job is to find such broker.

Of course, you can trade for a living.
I want to tell a little story, from my experience meeting many traders from various regions, most of them (95%) cannot reach the trading for living level. The get-rich-quick mindset, trading without money management, and untested methods are the reason the trader can't last long in the market. In addition, it is very rare to find a trader who is disciplined and consistent with the trades they made. Back to the broker for trading for a living, I recommend choosing a broker that is regulated by an international regulatory body, namely: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA. They have better and safer regulations than brokers from offshore countries (offshore) such as seychelles, cyprus, british virgin, island, belize, vanatu, etc. The drawback is that regulated brokers usually have a fairly large minimum deposit.

Vincent Howlett
Indonesia

Feb 9 2020

Wayne Finnie: 

I'm currently testing the MT4 XM demo and I can feel the movement of the price is solid, even I feel comfortable. But what I want to ask is, will the MT4 demo later be different from the real MT4?
Even though I'm profitable, I still don't feel like I can enjoy the results. In the long run, brokers don't seem honest anymore. I've traded with 3 brokers, some of them have blocked orders.

My other question is, can I trade for a living?

Wayne Finnie
Turkey

Feb 6 2020

Vincent Howlett: I've used the XM broker for more than a year and now XM is one of the brokers that I still use to compare price data. During my time with XM, I didn't find the spread widening or the profit and SL were cut before it reach the level. If that happens, I would move to another broker.
I suggest you test XM by trading on a real account with small capital. It usually takes 1-2 weeks to observe their spread. Pay attention to spreads when prices are normal, when near TP and SL, and when there is big news release. You can take notes or screenshots them as evidence.