XM Review

FX Author By Jeffrey Cammack Author Information Updated: September 18, 2020
Overall Rating
4.38 4.38 / 5
Min. Deposit AUD 5
Max. Leverage 500:1
Min. Spread 1.0 pips
Regulators CySEC,ASIC,IFSC
Regulator Origin CySEC ASIC IFSC
Trading Desk Type

Summary

XM Group lets traders deposit as little as $5 to open an account; offers 500:1 leverage, and has a generous bonus scheme for new accounts.  Fully regulated by ASIC, CySEC and the FCA, XM Group offers accounts to suit most traders including those interested in tight spreads and automated trading.

XM Group partners with investment-grade banks and uses segregated accounts to ensure security, your personal account manager ensures your satisfaction, and customer service is available 24/5, via live chat, email and in 30 languages.

Reviews

Regulation 11110
Trading Conditions 11110.5
Trading Platforms 11110.5
Deposit & Withdrawal 11110.5
Education & Research 11111
Assets Available 11110.5
Customer Service 11110
Beginner Friendly Good
Bonuses $30 No Deposit Bonus
Our Review Process

Trading Conditions

Minimum Deposit AUD 5
Base currencies USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
Number of FX Pairs 57
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

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 www.xm.com/au
Type Market Maker
Regulators CySEC,ASIC,IFSC
Office locations Australia, Cyprus, UK

Deposit & Withdrawal Methods

Supported Platforms for XM

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 which includes support for Expert Advisors.  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.

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

Compare CFD Brokers

Overall Rating 11110.5 4.38 / 5 11110.5 4.21 / 5 11110.5 4.07 / 5 11110.5 4.13 / 5
Minimum Deposit AUD 5 AUD 100 AUD 100 AUD 200
Regulation
CySEC CySEC
ASIC ASIC
IFSC IFSC
FCA FCA
CySEC CySEC
FSCA FSCA
DFSA DFSA
SCB SCB
ASIC ASIC
CySEC CySEC
ASIC ASIC
Trading Desk Type
Trading Instruments Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies Forex, Indicies, Metals, Equities, Energies, Futures Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities Cryptocurrencies, Forex, Indicies, Metals, Equities, WTIs
Forex Pairs 57 70+ 60+ 50+
Crypto Pairs 5 5 5
Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
  • Fast and free withdrawals
  • Wide range of assets
  • Excellent market analysis
  • Innovative trading tools
Cons
  • Dealing desk
  • Limited education
  • Expensive withdrawals
  • High minimum deposit
  • No swap-free account option
Read Full Review Read Full Review Read Full Review
Regulation 11110 4 / 5 11110 4 / 5 11110 4 / 5 11110 4 / 5
Trading Conditions 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
Trading Platforms 11110.5 4.5 / 5 11111 5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Deposit & Withdrawal 11110.5 4.5 / 5 11111 5 / 5 11100 3 / 5 11111 5 / 5
Education & Research 11111 5 / 5 11000 2 / 5 1110.50 3.5 / 5 1110.50 3.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5 11110.5 4.5 / 5
Customer Service 11110 4 / 5 11110 4 / 5 11110.5 4.5 / 5 1110.50 3.5 / 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 N/A N/A
Leverage 500:1 500:1 500:1 500:1
Spread 1.0 pips 0.6 pips 0.0 pips 0.2 pips
Hedging Yes Yes Yes Yes
Scalping Yes Yes Yes Yes
Account Types
  • XM Zero (Standard)
  • Islamic
  • Standard IRESS (Professional)
  • Standard (Standard)
Islamic Account Yes Yes Yes No
Trading Platforms MT4 , MT5 cTrader , FxProEdge, MT4 , MT5 IRESS, MT4 , MT5 MT4 , MT5
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, Paypal, Skrill, Neteller, Fasapay, BPay, paytrust88, POLi Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, POLi
Trading Commission 7 USD / lot - XM Zero Account 9 USD / lot - cTrader Account 6 USD / lot - RAW Accounts 6 USD / lot - GoPlus+
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Overall Rating 11110.5 4.38 / 5 11110.5 4.21 / 5 11110.5 4.07 / 5 11110.5 4.13 / 5
Minimum Deposit AUD 5 AUD 100 AUD 100 AUD 200
Regulation
CySEC CySEC
ASIC ASIC
IFSC IFSC
FCA FCA
CySEC CySEC
FSCA FSCA
DFSA DFSA
SCB SCB
ASIC ASIC
CySEC CySEC
ASIC ASIC
Trading Desk Type
Trading Instruments Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, Energies Forex, Indicies, Metals, Equities, Energies, Futures Commodities, Cryptocurrencies, Forex, Indicies, Metals, Equities Cryptocurrencies, Forex, Indicies, Metals, Equities, WTIs
Forex Pairs 57 70+ 60+ 50+
Crypto Pairs 5 5 5
Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
  • Fast and free withdrawals
  • Wide range of assets
  • Excellent market analysis
  • Innovative trading tools
Cons
  • Dealing desk
  • Limited education
  • Expensive withdrawals
  • High minimum deposit
  • No swap-free account option
Read Full Review Read Full Review Read Full Review
Regulation 11110 4 / 5 11110 4 / 5 11110 4 / 5 11110 4 / 5
Trading Conditions 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5
Trading Platforms 11110.5 4.5 / 5 11111 5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Deposit & Withdrawal 11110.5 4.5 / 5 11111 5 / 5 11100 3 / 5 11111 5 / 5
Education & Research 11111 5 / 5 11000 2 / 5 1110.50 3.5 / 5 1110.50 3.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110 4 / 5 11110.5 4.5 / 5
Customer Service 11110 4 / 5 11110 4 / 5 11110.5 4.5 / 5 1110.50 3.5 / 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 N/A N/A
Leverage 500:1 500:1 500:1 500:1
Spread 1.0 pips 0.6 pips 0.0 pips 0.2 pips
Hedging Yes Yes Yes Yes
Scalping Yes Yes Yes Yes
Account Types
  • XM Zero (Standard)
  • Islamic
  • Standard IRESS (Professional)
  • Standard (Standard)
Islamic Account Yes Yes Yes No
Trading Platforms MT4 , MT5 cTrader , FxProEdge, MT4 , MT5 IRESS, MT4 , MT5 MT4 , MT5
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, Paypal, Skrill, Neteller, Fasapay, BPay, paytrust88, POLi Bank Transfer, Visa, Mastercard, Skrill, Neteller, Fasapay, BPay, POLi
Trading Commission 7 USD / lot - XM Zero Account 9 USD / lot - cTrader Account 6 USD / lot - RAW Accounts 6 USD / lot - GoPlus+

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

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