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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

4.5
/ 5

XM review

Updated on Aug 28, 2024
|
14 mins read

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
Countries
+56
Devices
Minimum deposit
$5
Withdrawal fee
$0
Deposit fee
$0
Max insured
$0
Our Verdict
4.5
/ 5
Commissions & Fees
4.3
/ 5
Deposit & Withdrawal
4.6
/ 5
Customer Support
4.8
/ 5
Account Opening
4.1
/ 5
Regulation & Safety
4.7
/ 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
Execution Model
MM
Deposit currency
USD
EUR
JPY
GBP
AUD
CHF
RUB
PLN
Regulatory complience
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
Autotrading
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:

M
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
A
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
5
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
5
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
53
Cryptocurrencies
10
Indices
26
Commodities
14
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.

XM compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
XM
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 4.5
    / 5
  • 4.6
    / 5
  • $5
  • 1:888
  • 4.3
    / 5
  • $0
  • $0
  • 4.7
    / 5
  • ASIC, FSC, CYSEC
  • Yes
  • See review
FxPro
  • 24/7 instant money withdrawal
  • Specialized trading accounts
  • Free VPS hosting
  • High leverage
  • 4.8
    / 5
  • 4.9
    / 5
  • $100
  • 1:10000
  • 4.7
    / 5
  • $0
  • $0
  • 4.8
    / 5
  • FCA
  • Yes
  • See review
FP Markets
  • Free VPS hosting
  • Specialized trading accounts
  • 3.8
    / 5
  • 3.6
    / 5
  • $50
  • 1:500
  • 3.5
    / 5
  • $0
  • $0
  • 4.8
    / 5
  • ASIC, CYSEC
  • Yes
  • See review
  • 4
    / 5
  • 3.6
    / 5
  • 20$
  • 1:400
  • 4.7
    / 5
  • No
  • No
  • 4.5
    / 5
  • FCA
  • No
  • See review
IC Markets
  • Specialized trading accounts
  • Tight Spreads
  • Low commissions
  • 4.3
    / 5
  • 4.5
    / 5
  • $200
  • 1:500
  • 4.3
    / 5
  • $0
  • $0
  • 4
    / 5
  • ASIC, CySEC
  • Yes
  • See review
Choose brokers to compare XM to
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