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XM Broker Review

FX Scouts By Jeffrey Cammack Updated: October 14, 2019
Average Score
4 / 5
Min. Deposit USD 5
Max. Leverage 500:1
Min. Spread 1.0 pips
Regulators CySEC,FCA,ASIC,IFSC
Regulator Origin CySEC FCA ASIC IFSC
Broker Type Market Maker

Summary

XM Group lets traders deposit as little as $5 to open an account; awards leverage up to 500:1, and even offer a bonus for new accounts up to $5000.  A fully regulated brokerage by ASIC, CySEC and the FCA, XM Group offers both demo and real accounts to suit most traders including those interested in tight spreads and automated trading. At XM client funds are the top priority.

XM Group partner with investment grade banks and use segregated accounts to ensure security, your account manager ensures your satisfaction, and customer service is standing ready 24/5, live chat, email and 30 languages.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Bonuses $30 New Customer Trading Bonus
Beginner Friendly Standard
About our review process

Trading Conditions

Minimum Deposit USD 5
Base currencies USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
Number of FX Pairs 55+
Hedging Allowed
Scalping
Swap-Free Accounts

Average Spreads

EUR / USD 1
GBP / USD 1
USD / JPY 1

Company Details

Company name Trading Point of Financial Instruments Pty Lt
Founded 2009
Website Visit Website
Type Market Maker
Regulators CySEC,FCA,ASIC,IFSC
Office locations Australia,Cyprus,UK

Deposit & Withdrawal Methods

Supported Platforms for XM

XM Broker Detailed Review

XM Group offers Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Cryptocurrencies and Energies CFDs.  The reason for their outstanding performance is because they can execute 99.35% of their orders in less than a second. Impressive!

Regulation

The company has a host of operating regulations in place including Australia’s local regulator ASIC under license number 443670.  If you are a resident of Australia, your account will be opened under the ASIC regulated company.  Other regulators from around the world regulate the group’s daughter companies in the XM group.

Account Types

XM Group has three accounts to choose from, making it simple to choose the account for you and offers the appropriate amount of diversity.

Micro account:  Open this account with a $5 minimum deposit, and trade in micro-lots on the XM platform.

Standard account: A minimum deposit of $5, this account offers traders a larger lot volume on this seamless platform.

Zero account:  With a minimum deposit of $100, this account offers traders 0 pip spreads on some of the major currencies. All accounts have a swap-free Islamic option, and all allow hedging.

Trading Platform

You can connect, an unlimited number of demo and real account types to the multi-award MetalTrader4 platform. Support for Expert Advisors is available.  XM Global use the MetaTrader suite and are credited with having the best execution policy for trade orders. The list of trading software gives clients some real choices:

  • MT5 Platform
  • MT4 Terminal
  • MT4 For MAC
  • Web Trader
  • iPhone Trader
  • iPad Trader
  • Android Trader

The XM Trader allows multi-account management for those who want to manage more than one trading account at a time.

Spreads and Leverage

XM Group has a leverage figure of 500:1 (Leverage limitations apply to all the EU regulated entities of the group). A trader has over 60 currency pairs available and over 700 financial instruments available to play with using online trading and utilising 16 advanced trading platforms. XM Group provides tight spreads as low as 0 pips on the major currency pairs, but the spreads will be higher for accounts other than Zero Accounts.

Deposits and Withdrawals

There are no upper limits to deposits and all the usual cards and bank transfers and a host of web types of account dealings. You can have as low as $5 in your account. You get negative balance protection and no hidden fees or commissions.  XM Group accepts Local Payment Methods including Credit/Debit Card, Neteller, Skrill, and Bank Wire Transfer.

Customer Support

You can join XM Group in almost any language with multilingual account managers available for demo and actual accounts. Support is 24/5. They have an enormous amount of training material, news, analysis and other educational material available for Beginners and experienced traders.

Conclusion

In a relatively short time, XM Group has achieved a reputation as a brokerage that makes them the envy of the longer established brokerages. They rate very highly in surveys with customers and operate with integrity and transparency.

Leverage limitations apply to all the EU regulated entities of the group.

Compare Brokers

Overall Rating 4/5 3/5 4/5 3/5
Minimum Deposit USD 5 USD 100 AUD 100 USD 200
Regulation
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
CySEC CySEC
FSCA FSCA
ASIC ASIC
ASIC ASIC
Broker Type Market Maker NDD Intervention Market Maker STP ECN
Read Full Review Read Full Review Read Full Review
Trading Conditions 4 / 5 3 / 5 4 / 5 3 / 5
Trading Platforms 4 / 5 4 / 5 4 / 5 3 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5 4 / 5
% Lose with this broker 69% of retail investor accounts lose money when trading CFDs with this provider 77% of retail investor accounts lose money when trading CFDs with this provider of retail investor accounts lose money when trading CFDs with this provider N/A
Leverage 500:1 500:1 500:1 500:1
Spread 1.0 pips 0.6 pips 0.1 pips 0.2 pips
Hedging
Scalping
Account Types
  • Mini,Standard
  • Standard
  • Vip,Standard,Professional
  • Professional,Standard
Trading Platforms MetaTrader4, MetaTrader5, WebTrader MetaTrader4, MetaTrader5, WebTrader, cTrader, FxProEdge MetaTrader4, MetaTrader5, WebTrader, IRESS MetaTrader4, MetaTrader5, WebTrader
Funding Methods Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, PaySec, POLi Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, POLi
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Overall Rating 4 / 5 3 / 5 4 / 5 3 / 5
Min. Deposit USD 5 USD 100 AUD 100 USD 200
Regulation
CySEC CySEC
FCA FCA
ASIC ASIC
IFSC IFSC
CySEC CySEC
FSCA FSCA
ASIC ASIC
ASIC ASIC
Broker Type Market Maker NDD Intervention Market Maker STP ECN
Read Full Review Read Full Review Read Full Review Read Full Review
Trading Conditions 4 / 5 3 / 5 4 / 5 3 / 5
Trading Platforms 4 / 5 4 / 5 4 / 5 3 / 5
Deposit & Withdrawal 4 / 5 4 / 5 4 / 5 4 / 5
Risk Disclaimer 69% of retail investor accounts lose money when trading CFDs with this provider 77% of retail investor accounts lose money when trading CFDs with this provider of retail investor accounts lose money when trading CFDs with this provider N/A
Leverage 500:1 500:1 500:1 500:1
Spread 1.0 pips 0.6 pips 0.1 pips 0.2 pips
Hedging Allowed Yes Yes Yes Yes
Scalping Allowed Yes Yes Yes Yes
Platforms MetaTrader4, MetaTrader5, WebTrader MetaTrader4, MetaTrader5, WebTrader, cTrader, FxProEdge MetaTrader4, MetaTrader5, WebTrader, IRESS MetaTrader4, MetaTrader5, WebTrader
Funding Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, PaySec, POLi Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, POLi

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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Leverage limitations apply to all the EU regulated entities of the group.