Verdict

/ 5

XM review

By Topbrokers Team

Updated on Feb 20, 2025

14 mins read

34 customer reviews

Overview

Today, we’re taking an in-depth look at XM Broker, a prominent player in the forex and CFD trading space. Over the past 15 years, XM Brokers have established...

See full overview for XM

Today, we’re taking an in-depth look at XM Broker, a prominent player in the forex and CFD trading space. Over the past 15 years, XM Brokers have established themselves as a reliable option for all levels of traders. Still, regardless of the level of trading experience you have, understanding the pros and cons of your broker is essential. This is exactly what we aim to do in our XM Broker review.

At Top Brokers, we’re committed to our belief that knowledge is power in all types of trading. When considering the criteria for our XM Broker review, we left nothing untouched. We looked at how the XM trading platform performs in eight critical criteria areas. These include licensing, trading platforms, account types, asset coverage, spreads/commissions, education, customer support, and funding options.

By the time you reach the end of this XM Broker review, you’ll be equipped with great information. From there, you can determine whether XM Brokers is right for you.

TL;DR

XM Broker is one of the most trusted in the industry and is licensed by top global authorities.
XM Broker offers a low minimum deposit amount of $5.
Zero commission accounts are available.
Platforms offered include MetaTrader 4 and MetaTrader 5.
With low spreads, XM Broker is respected for its cost-effectiveness.
We recommend the XM Group for all experience levels.
Assets are limited to forex and CFDs

Criteria Breakdown

When evaluating XM Broker reviews, it’s critical that a variety of criteria is considered. This helps to ensure the broker performs in the areas that meet your needs and trading style. In the evaluation of XM Broker, we considered the most important benchmarks. These provide traders with the most well-rounded, comprehensive portrait of XM Broker’s strengths and weaknesses.

Below is a table breaking down the key criteria we’ve highlighted in our XM Broker review.

Criteria	Description
Regulation and Licensing	Ensure the broker is regulated by reputable financial authorities to protect your funds and rights as an investor.
Trading Platforms and Tools	Evaluate the trading platforms offered, their user-friendliness, charting capabilities, and available analytical tools.
Account Types and Minimum Deposits	Consider the different account types, their features, and the minimum deposit requirements to find what suits your trading needs and budget.
Asset Coverage	Check the range of assets (currencies, stocks, commodities, etc.) the broker offers for trading.
Spreads and Commissions	Compare the spreads and commissions charged by the broker, as they can significantly impact your trading costs.
Customer Support	Look for brokers with responsive and knowledgeable customer support available through various channels.
Educational Resources	Assess the broker’s educational materials, such as webinars, tutorials, and trading guides, especially if you’re a beginner trader.
Funding and Withdrawal Options	Ensure the broker offers convenient and secure funding and withdrawal methods.

What is XM Broker?

XM Broker, which was formerly known as Trading Point, was founded in 2009. Today, XM Broker has grown to the point of serving 10 million clients in more than 190 countries. Supporting more than thirty languages, we can securely say that XM Broker has built a strong global presence.

XM Broker caters to a diverse range of traders, including both retail and institutional traders. This is a broker that is primarily focused on forex trading, along with a range of CFD markets. With XM brokers, traders of all levels are able to speculate on the price movements of various financial instruments. Along with forex, the range of CFDs includes stocks, indices, precious metals, energies, and commodities.

What is XM Broker Best Known For?

XM Broker is widely regarded as a trustworthy broker in the global trading industry. They are a well-regulated firm, ensuring high standards in terms of transparency and compliance. XM Broker’s primary regulation is under (CySEC), with registrations for outward passporting in a number of countries.

As a forex broker, XM has one of the lowest minimum deposits of $5, making it a comfortable choice for new traders. XM’s level of regulation and security provided trading clients with confidence and peace of mind.

XM Broker’s primary regulation is under (CySEC). — **Source: https://www.xm.com/**
**XM broker is a well-regulated firm with one of the lowest minimum deposits.**

Features

XM trading brokers offer a nice range of diverse features that are designed to elevate the trading experience. At XM Broker’s core is an extremely user-friendly interface that’s intuitive and easy to learn. It offers MetaTrader 4 and Meta Trader 5 as its platforms, which are well-respected for usability and advanced charting features.

Currently, XM offers more than 1,000 trading instruments with low spreads (as low as 0 pips). To enhance the experience of its clients, XM Brokers offers personal account managers. However, we have been impressed with their educational and resource offerings. Clients have free access to market research, daily news, forex trading signals, daily market analysis, and more. For educational resources, webinars, tutorials, and trading guides are available.

All of these resources combined firmly establish XM as brokers that are committed to providing for every client. This team believes each client is a priority, regardless of experience or the size of their investment.

Our XM review found that this broker offers advanced charting features, educational resources, and more. — **Source: https://www.xm.com/**
**Our XM Broker review uncovered a range of features designed to boost the trading experience.**

Pros

Regulated by Top-tier Authorities

For this XM Broker review, the fact that it’s regulated by top-tier authorities arose as a stand-out feature. XM Broker headquarters are based in Cyprus and regulated by CySec, along with other key authorities. These include ASIC, FSC, and the DFSA.

This level of regulatory oversight and compliance is as good as a guarantee that they operate within strict guidelines. This is a key feature, offering layers of protection that appeal to traders.

Low Spreads and Commissions

Another notable standout feature of XM Brokers is the competitive low spreads. For both beginning and experienced traders, this translates into significantly higher profits. Currently, XM Broker offers spreads as low as 0 pips. Additionally, commissions are only charged on XM Zero Accounts. The current commission rate is 3.5 USD for each 100,000 USD traded. Other types of XM accounts are zero commission.

These low trading costs offer a significant financial advantage in highly competitive markets, such as forex and CFD.

Popular Trading Platforms

XM Broker works off of two of the most popular trading platforms – MetaTrader 4 (MT4) and MetaTrader 5 (MT5). A defining feature of these platforms is their user-friendly interfaces. This is a welcome feature for new traders and experienced traders who like a streamlined user experience. By offering these two platforms, XM allows clients the option to choose the platform best suited to their needs.

Variety of Account Types

XM Broker offers three different account types to cater to the needs of diverse traders. These include the Ultra Low Micro Account, Ultra Low Standard Account, and the XM Zero Account. Forex trading is available with all accounts, as is a low minimum deposit of $5.

Comprehensive Educational Resources

We’ve reviewed the top forex brokers in the industry, and a commonality that they share are great educational resources. XM Brokers offer a complete XM Learning Center, with a range of materials to improve trading knowledge and skills. These include live sessions, videos, webinars, and other types of tutorials.

Cons

Limited Asset Coverage

It only requires a quick glance at XM to see that their asset coverage is limited. Their asset coverage is limited to forex and CFDs, although the range of CFDs is sufficient. However, traders seeking a wider range of financial instruments will likely be disappointed. In this case, it would be smart to consider an alternative broker mentioned at the end of this review.

Platform Selection Limited

While XM’s platforms received a mention in our list of “pros”, the fact that there are only two is limiting. MT4 and MT5 do offer features for diverse trading needs, but offering additional options would be a plus.

Criteria Evaluation

Regulation and Licensing: 4/5

In our opinion, XM forex and CFD brokers earn above-average marks for regulation and licensing. They’re regulated by CySec, ASIC, and FSC, as well as DFSA, all of which are highly reputable authorities. For traders, the value of these regulation and licensing credentials can’t be overstated. XM Brokers ensures traders that their funds are safeguarded and that the broker is acting with integrity and transparency.

Currently, XM Brokers is not regulated by any authorities connected to the United States.

Trading Platforms and Tools: 4/5

As we’ve mentioned XM Broker offers MT4 and MT5 as its trading platforms. Both are popular and user-friendly, offering a diverse range of features. These are solid platforms with advanced charting capabilities and good analytical tools. This earns XM high marks in this area, however, only offering two options is limiting.

In our XM Broker review, we've found that it offers both MT4 and MT5 platforms. — **Source: https://www.xm.com**
**MetaTrader 4 vs MetaTrader 5**

Account Types and Minimum Deposits: 4/5

The three account types offered cater to different levels of experience and needs of traders. Of the three accounts, the XM Zero is the only one with a commission. XM is known for its low minimum deposit amount, and this spans all account types.

EUR and USD are the base currency options among all three. However, JPY as a base currency is available with the XM Zero. The Ultra Low Micro and Ultra Low Standard offer GBP. There are minor differences in the spread of all majors. For XM Zero, it’s as low as 0 pips. The other two account types offer as low as 0.6 pips.

Asset Coverage: 3/5

Asset coverage is the weakest area we can find for XM Brokers. For some traders, this is a major consideration. However, traders who are only interested in forex or CFDs won’t be affected by this limitation.

Spreads and Commissions: 4/5

We see XM Brokers as offering some of the most competitive spreads and commissions in the industry. We appreciate that spreads as low as 0 pips are available and that commission only applies to one account. Even when commission is a factor, it’s relatively low compared to other brokers. This puts XM in the category of most competitive in forex and CFD markets.

Customer Support: 4/5

XM Broker provides customer support via chat, email, and phone. The chat function is available 24/7, however phone and email support is more limited. Most phone support departments are available from 07:00 – 16:00 GMT. However, the main support line is 05:00 – 19:00 GMT.

XM Broker’s customer support team is reliably knowledgeable and responsive.

Educational Resources: 4/5

While educational resources are a common feature for trade brokers, our assessment shows that XM goes above and beyond. The learning center is a thorough, comprehensive resource that includes live educational opportunities. The forex and CFD webinars are a rich resource for all. And, we found the platform tutorials to be helpful, especially for new traders.

Additionally, XM Brokers offers a range of trading tools and market research. These include a market overview, XM TV, podcasts, trade ideas, and an economic calendar.

Funding and Withdrawal Options: 4/5

XM Broker supports a good range of funding and withdrawal methods. They support funding through credit and debit cards, electronic wallets, and wire transfers. There are zero fees on most deposits and withdrawals. The exception is wire transfers of less than $200 USD. XM accepts all forms of currency.

Community Reviews and Expert Recommendations

This is an interesting area in our XM review. Expert reviews and recommendations are generally positive across the board. They speak of how XM is a trusted broker, praise the MetaTrader platforms, and mention the many resources provided. From the experts, XM is recommended as forex and CFD trading top choice.

On the flip side of this are the community reviews, which are very mixed. Traders praise the user-friendly platforms and competitive spreads. Community members who have had a positive experience with XM Broker have little negative to say. However, on sites like TrustPilot, XM broker only brings in 2.3 stars.

From the unfavorable reviews, there are multiple concerns from traders who felt their earnings were unrightfully kept from them. There are also mentions of accounts being unfairly closed. Our experience has been overwhelmingly positive with XM Broker. However, there are enough of these types of community reviews that they shouldn’t be completely discarded.

Price

We’ve mentioned here that one of the features XM Broker is known for is the extremely low minimum deposit. This combined with competitive spreads and low commissions, makes the XM Group a very competitive option.

Additionally, XM Broker offers multiple promotions. While these might change periodically, examples include a VPS service to increase the speed of your trades.

Where to Find XM Broker

Connection with XM Broker is easy. Simply visit h ere. There, you’ll find all the info you need about the account types, platforms, assets, and more.

Alternatives to XM Broker

When we perform a comprehensive review, we like to acknowledge that choosing a broker isn’t a one-size-fits-all process. XM Broker is trusted and reputable. However, there are reasons they might not be the ideal fit for your trading goals. We always recommend exploring some alternative options. Here are a few notable alternatives to XM Broker.

IG Markets

IG Markets is a highly trusted, well-established broker that offers zero commission on UK and US shares. They offer accounts tailored to experienced traders, and those new to trading. The user-friendly platform appeals to those just getting started in trading. IG Markets offers a range of trading instruments. These include forex, indices, crypto, commodities, and more. Visit www.ig.com to learn more about IG Markets.

Saxo Bank

Saxo Bank is a Danish investment bank that currently serves over a million clients. They offer a comprehensive range of financial markets, expanding beyond forex and CFDs. They offer managed portfolios, mutual funds, ETFs, futures, and more. We like Saxo Bank for traders who want more options and a more comprehensive trading experience. You can learn more about Saxo Bank at www.home.saxo.

Pepperstone

Pepperstone stands out for its robust platform options. With many competitive brokers, there are two or three options. Pepperstone offers five, including their Pepperstone platform which was designed by traders. They’re also known for fast execution and low spreads. Visiting Pepperstone will put you in touch with info on the various platforms and features.

FXCM

FXCM is a long-standing forex broker with twenty-five years in the industry. They offer zero-commission trading platforms and a great reputation for forex traders. If you’re just entering the world of forex trading, understanding the strategies and terms is important. We suggest reading Forex Risk Management Strategies Basic Forex Terms You Should Know Before Trading

If you would like to know more about FXCM, visit them at www.fxcm.com.

Final Thoughts

As we conclude our XM Broker review, we hope you’ve gained a comprehensive understanding of its strengths and weaknesses. On the side of strengths, XM brokers have many. It’s a highly reputable broker, with strong regulatory oversight, They offer competitive pricing, with low minimum deposits. The trading experience is solid for both beginner and expert traders, and the MetaTrader platforms are a plus.

On the downside, the asset coverage is limited to only forex and CFDs. Traders with limited experience in these assets might prefer a different broker. However, you can learn more about how to read forex charts and find other educational resources on their site. Diversified traders might find XM Brokers to be too limiting. Additionally, this broker doesn’t serve US residents.

In the end, we hope you have the tools needed to make an informed decision when choosing a broker. At TopBrokers, our goal is to be the informational resource on trading and brokers you turn to. We’re committed to providing reviews and information about the top brokers in the industry. And, we’re committed to doing so with honesty, transparency, and integrity.

If you’re still undecided about XM Broker, we encourage you to explore our comprehensive reviews to find the best forex brokers. Here’s to your trading success!

Countries

+220

Devices

Minimum deposit

Bonus:

XM Affiliate Program

Withdrawal fee

Deposit fee

Max insured

Our Verdict

4.7

/ 5

See our process of evaluating brokers

Commissions & Fees

4.7

/ 5

Deposit & Withdrawal

4.8

/ 5

Customer Support

4.5

/ 5

Account Opening

4.7

/ 5

Regulation & Safety

/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

See the entire process here.

Pros

Regulated by Top-tier Authorities
Low Spreads and Commissions
Popular Trading Platforms
Variety of Account Types
Comprehensive Educational Resources

Cons

Limited Asset Coverage
Platform Selection Limited

General details

Type of accounts

Demo accounts (with a time limit)

Standard Accounts

Swap free accounts

Micro accounts

Trading platforms

METATRADER 4

METATRADER 5

Meta Trader 4 Mobile

MetaTrader 5 Mobile

Execution Model

Deposit currency

USD

EUR

JPY

GBP

AUD

CHF

RUB

PLN

Regulatory compliance

ASIC

CySEC

Deposit payment systems

Withdrawal payment systems

Support Languges

English

Arabic

Vietnamese

Greek

Indonesian

Spanish

Italian

Chinese

Korean

Malay

Polish

German

Portuguese

Russian

French

Swedish

Japanese

Auto trading

XM Copy Trading Platform MT5 EA MT4 EA MQL.5 Signals

Contact details

[email protected]

+501 223-6696

Customer reviews

Read real reviews from traders all over the world:

Matteo Ricci

9 May 2024

Advantages: I love the multi play ment options provided by this broker making it easier to deposit and withdraw funds

Disadvantages: The support team delay a little bit in responding to me but I guess they get lots of inquiries.

The platform is not bad plus trading here has been very positive. A very reliable platform

Alejandro Lopez

3 May 2024

Advantages: -Many types of trading accounts -The technical support is competent and fast in responding to my questions

Disadvantages: -The threshold of deposit on a shares account is too high.? -The trading platform has a lot of tools but I think the user interface is outdated.

To be honest, it was the first time when I heard about turbo stocks, so I contacted the supp team and they explained everything to me clearly, it seems there are really competent guys.

See all 34 customers reviews

Accounts

Type of Trading Accounts on XM

XM offers four types of trading accounts: Micro Account, Standard Account, XM Ultra Low Account, and Shares Account. Each type offers demo trading and real trading.

The demo accounts offer a real account’s features and functions with one key difference. The volume will not affect your trades when using a demo account. In real trading, market volume can affect your trades, especially when you have a large deal size.

The live accounts allow you to trade with micro or standard lots, access MT4/MT5 with expert advisor trading, and get free regular intra-day market updates and technical analysis. All accounts also come with multilingual support and a personal account manager.

Micro Account: The Micro Account has USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, SGD, and ZAR as base currencies. It provides up to 1:1000 and negative balance protection. It also allows hedging, algorithmic trading, swaps, and Islamic accounts. The minimum deposit for this account is $5.
Standard Account: The Standard Account has all the features of the Micro Account. The only difference is that the Micro Account has a 100-lot restriction per ticket, while the Standard Account has a 50-lot restriction per ticket.
XM Ultra Low Account: This account offers fewer base currencies (EUR, USD, GBP, AUD, ZAR, SGD) and the lowest spread (as low as 0.6 pips). The Standard Ultra has a 50 lots restriction per ticket, while the Micro Ultra has a 100 lots restriction per ticket. While it supports hedging, algorithmic trading, and Islamic accounts, it doesn’t allow swaps.
Shares Account: The base currency for this account is USD. It offers no leverage, hedging, or swaps. The minimum deposit is $10,000, and the underlying exchange decides the spread.

Standard Account - XM

Swap-free account

Phone trading

Scalping

Hedging

Trading with expert advisers

Trading 24 hours a day

Trailing stop

Trading Platforms

METATRADER 4 METATRADER 5 Meta Trader 4 Mobile MetaTrader 4 MultiTerminal

Deposit currency

USD

EUR

JPY

AUD

GBP

RUB

CHF

PLN

Trading instruments

Forex

1:1000

Number of currency pairs: 28

USD

ARS

AUD

EUR

ZAR

SAR

CHF

CAD

BGN

CZK

DKK

GBP

HKD

HUF

ILS

ISK

CLP

JPY

TRY

THB

MXN

NOK

NZD

PLN

RUB

SGD

SEK

UAH

Stop Out

50%

Minimum position size

0.01 units

Maximum position size

50 units

Execution type

market

Spread type

Floating

Decimal places

Margin Call

100%

Other

Swap free

VIP account

Phone trading

Scalping

Hedging

Spread type

Trading with expert

Trading 24 hours a day

Trailing stop

Interest on free balance

Mailing the documents

MICRO Account - XM

Swap-free account

Phone trading

Scalping

Hedging

Trading with expert advisers

Trading 24 hours a day

Trailing stop

Trading Platforms

METATRADER 4 METATRADER 5 Meta Trader 4 Mobile MetaTrader 4 MultiTerminal MetaTrader 5 Mobile

Deposit currency

USD

EUR

JPY

AUD

GBP

CHF

RUB

PLN

Trading instruments

Forex

1:1000

Number of currency pairs: 27

AUD

EUR

ARS

BGN

CAD

CHF

CLP

CZK

DKK

GBP

HKD

HUF

ILS

ISK

JPY

MXN

NOK

NZD

PLN

RUB

ZAR

SAR

SEK

THB

TRY

UAH

USD

Stop Out

50%

Minimum position size

0.1 units

Maximum position size

100 units

Execution type

market

Spread type

Floating

Decimal places

Margin Call

100%

Other

Swap free

VIP account

Phone trading

Scalping

Hedging

Spread type

Trading with expert

Trading 24 hours a day

Trailing stop

Interest on free balance

Mailing the documents

Tradable instruments

Tradable instruments on XM.com trading platforms include:

Currencies

Cryptocurrencies

Indices

Commodities

Stocks

1200

Frequently asked questions

Find the right answer to your question below.

What trading platforms does XM Broker offer?

XM Broker offers two trading platforms – MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both of these platforms have excellent reputations for usability with intuitive interfaces. However, you shouldn’t confuse user-friendliness with low performance. They both offer advanced charting capabilities and high-level analytical tools and are a great fit for all trading levels.

What account types are available at XM Broker?

XM Broker features three different account types, each catering to different trading styles. The accounts include Ultra Low Micro, Ultra Low Standard, and XM Zero. There are low minimum deposits across the board with the three accounts. However, you will notice differences in advanced features.

Is XM Broker regulated?

Yes, XM Group is well-regulated. They hold regulating licenses with the Cyprus Securities and Exchange Commission (CySec), along with other global regulating agencies. These include the FCA and ASIC, among others. These regulatory authorities instill confidence in XM Broker’s operations, even for the momentum trader.

What assets can be traded on XM Broker?

XM Broker is one of the top choices in global brokers, however their asset coverage is rather limited. Currently, they offer forex and CFD trading. Through the CFDs, traders can speculate on indices, commodities, currency pairs, and other financial instruments. For traders who are looking to level up their trading game, we suggest this article on counter trading.

What are the funding and withdrawal options at XM Broker?

Funding and withdrawal options with XM Broker include credit and debit cards, e-wallets, and wire transfers. This range of options offers convenience for traders, especially since not all brokers accept e-wallet funds.

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