XM Review

Author By Jeffrey Cammack
Updated: May 6, 2021
Overall Rating
4.38 4.38 / 5
Rated #7 of 57 Recommended Brokers
Min. Deposit
AUD 5
Regulators
Trading Desk
Trading Cost
USD 16
Website Language
English, Malay, Chinese, Hungarian, Indonesian, Polish, Arabic, Portuguese, Vietnamese, Thai
Support Language
English, Chinese, Portuguese, Polish
AlertLeverage limitations apply to all the EU regulated entities of the group.

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Summary

XM Group (XM) is a dealing desk broker offering trading on multiple instruments, including Forex, stock CFDs, commodities, equities, precious metals, energies, and shares.  Trading costs are slightly higher than other market makers on two of its accounts, with spreads averaging at 1.6 pips on the EUR/USD. However, trading conditions are much more competitive on the Ultra Low Account, with spreads starting at 0.6 pips on the EUR/USD in exchange for a reasonable minimum deposit of 50 USD. 

With fast execution times and good analysis software, XM is a great broker for scalpers, day traders, and long-term traders.  It also provides a world-class repository of educational and market analysis materials to get new traders started.  Lastly, trading is offered on both the MT4 and MT5 platforms, and the responsive and knowledgeable customer service is available to help with any account or technical queries.

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
111115/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Excellent
Bonuses
Up to $5000

Account Information

Base Currencies
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
Number of FX Pairs
57
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
1 pips
Commission
7 USD / lot - XM Zero Account
EUR/USD
1.0 pips
GBP/USD
1.0 pips
USD/JPY
1.0 pips
Max. Leverage
30:1

Company Details

Company Name
Trading Point of Financial Instruments Pty Lt
Founded
2009
Website
Office Locations
Australia, Cyprus, UK

Pros

  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals

Cons

  • Dealing desk

XM Home

Is XM Group Safe?

Established in 2009 and headquartered in Cyprus, XM Group has grown into a large and well-established international investment firm with over 3,500,000 clients worldwide.  XM is a brand name of Trading Point Group and is regulated by Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA) UK, the Dubai Financial Services Board (DFSB), and the International Financial Services Commission (IFSC) Belize.  See below for details:

  • Trading Point of Financial Instruments Ltd was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10)
  • Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670)
  • Trading Point of Financial Instruments UK Ltd was established in 2016 and is regulated by the Financial Conduct Authority (FCA 705428).
  • Trading Point MENA Limited has been approved and regulated by the Dubai Financial Services Board (Reference No. F003484).
  • XM Global Limited is licensed by the Belize IFSC under license number 000261/104.

XM has won numerous awards for its services and offerings over the years, including Silver for the COVID-19 HR Action Plan – Business as Usual, in an Unusual 2020 (Cyprus HR Awards 2020), Global Forex Broker of the Year (Global Forex Awards 2020), Best Forex Affiliate Broker Programme – Europe (Global Forex Awards 2020), Most Reliable Broker – Global 2020 (Capital Finance International Magazine), Most Transparent Broker – Global 2020 (Capital Finance International Magazine), and Best Online CFD & FC Trading Broker – Global 2020 (The European Magazine). 

Australian traders will be trading under the subsidiary, Trading Point of Financial Instruments Pty Ltd, regulated by ASIC. As such, XM ensures that all client funds are held in segregated accounts at tier-1 banks.  It also offers negative balance protection to all clients, so traders can never lose more than they have in their trading account.

On this basis, we consider XM a trustworthy and safe broker. 

Trading Conditions

A market maker, XM offers trading on a wide range of assets, including Forex, stock CFDs, commodities, equities, precious metals, energies, and shares.  With over 55 Forex pairs available for trading, traders can choose between four live accounts on the MT4 and MT5 platforms.  These include the Micro, Standard, and the XM Ultra Low Account.  All three live accounts feature leverage of up to 30:1 and are available as swap-free accounts by request. XM also boasts a strict no requotes and no rejections policy, and 99.35% of all trading orders are executed in less than one second. Lastly, hedging and scalping are allowed on all accounts. 

Account Types

XM offers three different account types:

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Micro
USD 5
888:1
1
None
Account Details
Standard
USD 5
888:1
1
None
Account Details
XM Ultra Low
USD 50
888:1
0.60
None
Account Details
XM Zero
USD 100
30:1
0.60
$7.00
Account Details

The various live accounts offer traders flexibility in terms of minimum deposit and contract size.

Demo Account

Ideal for trading practice, as well as for testing trading strategies.  XM’s Demo Account does not expire and allows you to trade on live markets, risk-free.  

Micro Account

XM’s entry-level account, minimum deposits start at 5 USD and spreads average at 1.7 pips on the EUR/USD, which is wider than other similar-sized market makers.  Base currencies on this account are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR.  One lot on this account is the equivalent of 1,000 units, and the minimum trade volume is 0.1 lots.

Standard Account

Like the Micro Account, the minimum deposit requirement is 5 USD and spreads average at 1.7 pips on the EUR/USD, which is wider than other similar-sized market makers.  In contrast with the Micro Account, one lot is the equivalent of 100,000 units, and minimum trade volumes are 0.01 lots.  It also offers the same wide range of base currencies as the Micro Account.

Ultra-Low Account

This account has a higher minimum deposit of 50 USD but spreads average at 0.8 pips on the EUR/USD, which is comparable to other similar-sized market makers.  One lot is the equivalent of 100,000 units, the minimum trade volume is 0.01 lots, but base currencies are limited to EUR, USD, GBP, AUD, ZAR, and SGD. Trading Bonuses are not available on this account.

Spreads and Commissions

Spreads average at 1.7 pips for the EUR/USD on the Standard and Micro Accounts, which is wider than other similar-sized market makers.  Spreads tighten significantly on the Ultra Low Account, averaging at 0.8 pips on the EUR/USD.  All accounts are commission-free. 

Deposit & Withdrawal Fees

In line with Anti-Money Laundering policies, XM operates a “return to source policy,” meaning that withdrawals can only be returned to the original funding source. XM Group accepts the most commonly used payment methods, including all credit cards, e-wallets, and Bank Wire Transfers.

The account funding process is open 24 hours a day, and it is fully automated. XM also covers all transfer fees and does not include any hidden fees or commissions on deposits or withdrawals. Note that zero fees are charged on deposits and withdrawals made by wire transfer over 200 USD, or currency equivalent.

XM Group for Beginners

XM offers a wide variety of educational and market analysis materials for beginner traders.  The materials are well-structured and in-depth and cater to traders of all experience levels.  Customer support is also available 24/5 to help with any technical or account issues.

Educational Materials

The educational materials at XM comprise XM Live, Live Education, Educational Videos, Forex Webinars, Platform Tutorials, and Forex Seminars.  Educational materials are accessible to all XM website visitors, although some sections require registration.  See below for more details:

  • XM Live: Available from Monday to Friday 05:00 – 15:00 GMT, visitors can learn about the products and services offered by XM, trading fundamentals, and have all their questions answered by its hosts.
  • Live Education: XM offers the Basic Room for beginner traders and the Advanced Room for more experienced traders. Live Education is essentially a series of live webinars that run from Monday to Friday 06:00 – 15:00 GMT.  These webinars cover trading fundamentals and trading session analysis.  The Advanced Room also covers topics such as How to Prepare for a Trade, Follow Real-Time Trading, and Live Debates. 
  • Educational Videos: XM provides an extensive library of videos that cover topics such as:
    • Intro to the Markets
    • Trading Essentials
    • Fundamental Analysis
    • Technical Analysis
    • Money Management
    • Trading Psychology
    • Trading strategies
    • More on Trading
  • Forex Webinars: XM offers free webinars presented by 67 highly skilled forex professionals in 19 languages, seven days a week.
  • Platform Tutorials: XM’s team has developed a vast array of video tutorials that explain the ins and outs of the MT4 and MT5 platforms in addition to the XM trading tools.
  • Forex Seminars:  XM runs frequent seminars across the globe to educate online investors and help them develop their trading knowledge with the guidance of professional instructors. 
XM Education

Analysis Material

XM’s extensive market analysis section consists of a Markets Overview, News, XM Research, Trade Ideas, Technical Summaries, an Economic calendar, XM TV, and a Podcast.  See below for more details:

  • Markets Overview: Frequent articles by a third-party provider, Reuters, are available in this section and cover all the latest market news.
  • News: All the latest market news, also provided by Reuters, is updated a few times an hour.
  • XM Research: The XM Research team provides frequent articles covering technical analysis, Forex previews, market comment, special reports, and stock market news.
  • Trade Ideas: Provided by two third parties, namely Analyzzer and Autochartist, this section covers how the various instruments fare against one another.
  • Technical Summaries: This section covers the various trends among the XM’s instruments.
  • XM TV: Provided daily by XM’s in-house team of analysts, XM TV covers Forex News, Technical Analysis, and a Weekly Forex Outlook.
  • Podcast: XM’s trading podcast, Global Market Insights, provides traders with meaningful and informative content encompassing up-to-date information needed for online investing and updates on economic updates across the globe.

Customer Support

Available in over 30 languages 24/5 via email, phone, and live chat, XM’s customer support is responsive, polite, and knowledgeable.

Trading Platforms

XM supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for PC, Mac, Browser, and all iOS and Android devices.

XM Platforms

Metatrader 4

The MT4 trading platform is one of the most widely used Forex trading platforms. It can also be used to trade other instruments like commodities, cryptocurrency, stock index, and stock CFDs. One of the features that make MT4 popular is its auto-trading feature that enables algorithmic trading and strategy backtesting with expert advisors (trading robots).  Other features of MT4 include:

  • 1 Single Login Access to 8 Platforms
  • 1 Click Trading
  • Technical Analysis Tools with 50 indicators and charting tools
  • 3 Chart Types
  • Micro Lot Accounts (Optional)
  • VPS Functionality

Metatrader 5

MT4’s successor, MT5, is a state-of-the-art, multi-functional platform that boasts advanced technical tools and copy-trading. MetaTrader 5 is designed to accommodate advanced trading across a wider selection of asset classes than its predecessor, MT4. Feature-rich, it boasts advanced tools and offers superior execution.  Other features of MT5 include:

  • Over 1000 Instruments, including Stock CFDs, Stock Indices CFDs, Forex, CFDs on Precious Metals, and CFDs on Energies.
  • 1 Single Login to 7 Platforms
  • Full EA Functionality
  • One-Click Trading
  • All Order Types Supported
  • Over 80 Technical Analysis Objects
  • Market Depth of Latest Price Quotes

Mobile Trading Apps

The MT4 and MT5 mobile applications offer full XM account functionality to offer a seamless transition from the desktop application. The MT4 and MT5 applications vary in the number of technical indicators and instruments available to trade and have different chart types and market analysis tools.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the XM Group offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

XM Group Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. XM Group would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.19% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure.

Overview

A trustworthy market maker broker, XM offers trading on over 1000 instruments, including over 55 Forex pairs.  Trading conditions are reasonable, with spreads averaging at 0.8 pips on its Ultra-Low Account.  XM also offers trading on the most popular platforms – MT4 and MT5 and allows all trading strategies alongside a world-class repository of educational and market analysis materials and excellent customer service.

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

Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.38/ 5
AUD 5
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Metals
Equities
Energies
57
0
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Dealing desk
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
11110.54.5/ 5
111104/ 5
77.19% of retail investor accounts lose money when trading CFDs with this provider
30:1
1 pips
Micro
Standard
XM Ultra Low
XM Zero
Bank Transfer
Sofort Banking
Visa
Mastercard
Maestro
Skrill
Neteller
Bitcoin
Unionpay
7 USD / lot - XM Zero Account
1110.503.49/ 5
USD 100
Market Maker
Futures
Cryptocurrencies
Forex
Indicies
Metals
Equities
Energies
43
7
  • Tight spreads
  • Wide range of assets
  • Fast and free withdrawals
  • Great customer support
  • High commission
  • Limited education
  • Limited market analysis
1110.503.5/ 5
110.5002.5/ 5
111104/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
11110.54.5/ 5
64.54% of retail investor accounts lose money when trading CFDs with this provider
1000:1
0.10 pips
ECN Premium Account
Variable Account
Bank Transfer
Visa
Mastercard
Skrill
Neteller
10 USD / lot - ECN Account

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AlertMost retail CFD accounts lose money. Your capital is at risk.

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