XM
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Pros and Cons
- Low minimum deposit of $5
- Extremely competitive spreads
- Comprehensive educational resources
- Wide range of payment methods
- Responsive customer support
- High leverage might not suit all traders
- Limited product range outside of Forex and CFDs
- Withdrawal fees on some methods
- No proprietary trading platform
- Account verification can take time
Comprehensive Review of XM
In the highly competitive world of online trading, selecting the right broker can be a daunting task, especially for individuals who are new to the market or have intermediate experience.
XM, founded in 2009, has established itself as a leading online broker, offering a wide range of trading instruments and services tailored to the needs of traders across different experience levels.
This review aims to provide a thorough and detailed analysis, covering all critical aspects such as regulatory compliance, account types, trading platforms, fees, customer support, and much more.
By the end of this review, readers should fully understand whether XM aligns with their trading goals and requirements.
Create a Free AccountBackground and History
Foundation and Growth
Since its inception in 2009, XM has grown significantly, becoming a recognized name in the online trading industry.
The broker is part of Trading Point Holding, a financial group based in Cyprus, which also operates other brokerage firms.
The rapid growth of XM can be attributed to its commitment to providing a broad range of financial instruments, competitive trading conditions, and robust customer support.
Over the years, the company has expanded its services globally, now serving clients in nearly 200 countries, with more than 5 million clients using its platforms.
Regulatory Framework
When choosing a broker, one of the most crucial aspects to consider is its regulatory status.
Regulatory oversight is essential because it ensures that the company operates within a legal framework that protects traders’ interests.
XM is regulated by several prestigious financial authorities, which adds to its credibility and trustworthiness:
- Cyprus Securities and Exchange Commission (CySEC): As a CySEC-regulated entity, it adheres to the EU’s Markets in Financial Instruments Directive (MiFID II), which aims to increase transparency across the European Union’s financial markets and standardize regulatory disclosures.
- Australian Securities and Investments Commission (ASIC): ASIC regulates the company’s operations in Australia, ensuring that it complies with stringent regulatory standards designed to protect Australian investors.
- International Financial Services Commission (IFSC): Their operations in Belize are regulated by the IFSC, which offers a more flexible regulatory environment compared to European and Australian regulations but still ensures that the company maintains fair and transparent practices.
These multiple layers of regulation mean that clients can feel secure knowing that their funds are held in a broker that is regularly audited and adheres to strict financial guidelines.
Account Types and Offerings
One of the standout features of XM is the variety of account types it offers, catering to different trading needs and experience levels.
This flexibility ensures that traders can find an account that suits their specific trading strategies and financial capabilities.
Micro Account
The Micro Account is designed primarily for beginners or traders who prefer to trade with smaller amounts of capital.
This account type allows anybody to enter the market with minimal financial commitment, while still benefiting from the broker’s competitive spreads and leverage options.
| Feature | Details |
|---|---|
| Minimum Deposit | $5 |
| Contract Size | 1 lot = 1,000 units |
| Leverage | Up to 1:888 (varies by jurisdiction) |
| Spread | As low as 1 pip |
| Commission | None |
The Micro Account is particularly useful for new traders who wish to test their strategies in a live trading environment without risking large amounts of money.
It also suits those who prefer to trade smaller lots for more precise risk management.
Standard Account
For those who have gained some experience in trading and are comfortable with larger trade sizes, the Standard Account provides more flexibility and larger contract sizes.
This account type is ideal for investors who are ready to scale up their trading activities.
| Feature | Details |
|---|---|
| Minimum Deposit | $5 |
| Contract Size | 1 lot = 100,000 units |
| Leverage | Up to 1:888 (varies by jurisdiction) |
| Spread | As low as 1 pip |
| Commission | None |
The Standard Account maintains the no-commission trading model, which is attractive for traders who prefer to avoid additional fees on their trades.
The larger contract size compared to the Micro Account means that users can engage in more substantial market positions, potentially increasing their profit opportunities.
XM Ultra Low Account
The XM Ultra Low Account is tailored for users who prioritize low-cost trading.
This account type offers ultra-tight spreads, which can significantly reduce the cost of trading over time.
| Feature | Details |
|---|---|
| Minimum Deposit | $50 |
| Contract Size | Micro (1,000 units) and Standard (100,000 units) |
| Leverage | Up to 1:888 (varies by jurisdiction) |
| Spread | As low as 0.6 pips |
| Commission | None |
The Ultra Low Account is ideal for customers who are sensitive to trading costs and wish to maximize their returns by minimizing the spread.
The slightly higher minimum deposit requirement compared to the Micro and Standard Accounts reflects the enhanced trading conditions offered.
For traders who are interested in trading stocks, the Shares Account provides direct access to major global stock markets.
Unlike the other account types, the Shares Account is designed for trading individual stocks rather than forex or CFDs.
| Feature | Details |
|---|---|
| Minimum Deposit | $10,000 |
| Leverage | 1:1 (no leverage) |
| Spread | Variable, depending on the stock |
| Commission | Variable, depending on the stock |
This account type is tailored for professionals or high-net-worth individuals who prefer to trade real stocks without leverage.
The absence of leverage makes it a lower-risk option for those who are looking to build a portfolio of actual shares rather than engage in speculative trading.
Islamic Account
Recognizing the diverse needs of its global client base, XM also offers Islamic Accounts for traders who follow Sharia law.
These accounts are swap-free, meaning that no interest is charged on positions held overnight, in compliance with Islamic finance principles.
The Islamic Account option is available for all account types, ensuring that Muslims can trade in a manner that aligns with their religious beliefs.
Discover all bonusesTrading Platforms
The choice of trading platform is a critical factor in a trader’s experience and success.
XM offers a range of platforms to meet the needs of different trading styles and preferences.
Whether you prefer desktop, web-based, or mobile trading, the broker has you covered.
MetaTrader 4 (MT4)
MetaTrader 4 is one of the most popular trading platforms in the world, known for its user-friendly interface and comprehensive range of tools.
XM’s MT4 platform offers a robust trading experience with the following features:
- Access to Multiple Markets: Trade forex, CFDs on stocks, indices, commodities, and more.
- Advanced Charting Tools: MT4 provides a wide range of technical indicators, chart types, and drawing tools to conduct detailed market analysis.
- Automated Trading: Supports the use of Expert Advisors (EA) for automated trading strategies, allowing users to execute their strategies without manual intervention.
- Multiple Order Types: Includes market orders, pending orders, stop orders, and trailing stops.
MT4’s versatility makes it suitable for both beginner and advanced traders.
It is particularly favored by those who rely on technical analysis and automated trading systems.
MetaTrader 5 (MT5)
MetaTrader 5 is the successor to MT4 and offers additional features and improvements.
Its MT5 platform is equipped with enhanced tools and a broader range of financial instruments:
- More Instruments: MT5 offers access to more trading instruments than MT4, including additional CFDs on stocks, commodities, and indices.
- Improved Charting Tools: MT5 provides more timeframes, more indicators, and more charting options, enabling more in-depth market analysis.
- Economic Calendar: An integrated economic calendar allows investors to keep track of key economic events that could impact the markets.
- Depth of Market: MT5’s Depth of Market feature provides more detailed information on the liquidity of instruments, helping people make more informed decisions.
MT5 is an excellent choice for clients who need more advanced tools and want access to a broader range of markets.
Its enhanced capabilities make it particularly attractive to experienced market participants who need more than what MT4 offers.
XM WebTrader
XM WebTrader allows traders to access their accounts and trade directly from their web browser without the need to download or install any software.
Key features of the WebTrader platform include:
- No Download Required: Trade directly from any web browser on any operating system, whether it’s Windows, Mac, or Linux.
- Cross-Platform Compatibility: WebTrader works seamlessly across different devices and operating systems.
- Full Trading Functionality: The WebTrader platform offers the same features as MT4 and MT5, including charting tools, technical indicators, and order execution capabilities.
- Secure Trading: WebTrader uses SSL encryption to ensure that all trading activities and personal data are secure.
WebTrader is ideal for those who need flexibility and prefer not to be tied to a specific device.
Its ease of access and comprehensive functionality make it a convenient option for both casual and active traders.
Mobile Trading Platforms
In today’s fast-paced world, mobile trading is increasingly important.
XM’s mobile platforms, available for both MT4 and MT5, offer full trading functionality on iOS and Android devices.
The mobile platforms are designed to replicate the desktop experience as closely as possible, with features such as:
- Full Account Management: Traders can deposit, withdraw, and manage their accounts directly from the mobile app.
- Real-Time Quotes: Access live market data and real-time quotes on all trading instruments.
- One-Click Trading: Execute trades quickly with just one tap, making it easy to respond to market movements instantly.
- Advanced Charting: The mobile platforms offer advanced charting tools, allowing clients to perform technical analysis on the go.
Mobile trading platforms are essential for those who need to monitor the markets and manage their positions while away from their desks.
The ability to trade from anywhere, combined with the comprehensive features of the mobile apps, ensures that clients never miss an opportunity.
Trading Instruments
XM offers a diverse range of trading instruments, allowing traders to diversify their portfolios and explore various markets.
This diversity is one of the broker’s strong points, providing clients with the flexibility to trade across different asset classes.
Forex Trading
Forex trading is a core offering, with over 55 currency pairs available, including major, minor, and exotic pairs.
This extensive selection allows investors to take advantage of a wide range of market opportunities.
| Feature | Details |
|---|---|
| Number of Pairs | 55+ |
| Spreads | As low as 0.6 pips (Ultra Low Account) |
| Leverage | Up to 1:888 (varies by jurisdiction) |
| Trading Hours | 24/5 |
| Execution Type | Market execution, no requotes |
Forex trading at XM is designed to meet the needs of traders at all levels.
The tight spreads, high leverage options, and 24/5 trading hours ensure that people have the tools and flexibility they need to capitalize on the fast-moving forex market.
CFDs on Stocks
XM offers CFDs on a broad range of stocks from global markets, including major exchanges like the NYSE, NASDAQ, and LSE.
This allows to speculate on the price movements of individual companies without owning the underlying asset.
| Feature | Details |
|---|---|
| Access to Markets | US, UK, Germany, and more |
| Spreads | Variable, depending on the stock |
| Leverage | Up to 1:5 (varies by jurisdiction) |
| Trading Hours | Aligned with global market hours |
| Commission | None, except for Shares Account |
CFD trading on stocks is particularly attractive to investment professionals who wish to take advantage of both rising and falling markets without the need to invest large amounts of capital.
Commodities Trading
XM offers trading on a range of commodities, including precious metals, energies, and agricultural products.
Commodities are often used as a hedge against inflation or to diversify a trading portfolio.
| Category | Instruments Available |
|---|---|
| Precious Metals | Gold, Silver |
| Energies | Crude Oil, Natural Gas |
| Agricultural Commodities | Coffee, Sugar, Cocoa |
Commodity trading provides users with the opportunity to speculate on the price movements of raw materials that are essential to the global economy.
The availability of different types of commodities allows diversifying their investments and manage risk more effectively.
Indices Trading
XM offers CFDs on major global stock indices, allowing anybody to speculate on the overall performance of stock markets rather than individual companies.
This type of trading is ideal for those who want to bet on the direction of an entire market or region.
| Feature | Details |
|---|---|
| Global Coverage | US, Europe, Asia, and more |
| Spread | From as low as 0.5 points |
| Leverage | Up to 1:200 (varies by jurisdiction) |
| Trading Hours | 24/5 |
| Commission | None |
Indices trading is an excellent way to gain exposure to a broad market segment with a single trade.
The ability to trade both cash and futures indices allows traders to tailor their strategies to different time horizons.
Cryptocurrencies
While XM offers an extensive range of traditional assets, it does not currently provide direct trading on cryptocurrencies.
This may be a consideration for market participants who wish to engage in the rapidly growing crypto market.
However, the absence of cryptocurrencies can also be considered a conservative approach, focusing on more regulated and established markets.
Fees and Commissions
Understanding the fee structure is essential for traders as it directly impacts profitability.
XM is known for its transparent fee structure, with no hidden costs.
Below is a detailed breakdown of the different fees clients may encounter.
Spread and Commission
The broker operates on a spread-only model for most of its accounts, meaning that there are no additional commissions on trades.
The spreads offered are competitive and vary depending on the account type:
| Account Type | Spread | Commission |
|---|---|---|
| Micro Account | From 1 pip | None |
| Standard Account | From 1 pip | None |
| Ultra Low Account | From 0.6 pips | None |
| Shares Account | Variable, depending on the stock | Variable, depending on the stock |
The absence of commissions on most account types makes it an attractive option for those who want to minimize their trading costs.
However, traders using the Shares Account should be aware of the variable commissions that apply.
Swap Fees
Swap fees, also known as overnight fees, are charged when positions are held overnight.
These fees are based on the interest rate difference between the two currencies involved in a forex trade, or the funding rate for CFDs.
XM offers Islamic Accounts that are swap-free, making them suitable for traders who cannot pay or receive interest due to religious reasons.
| Instrument | Swap Fee | Swap-Free Option |
|---|---|---|
| Forex | Varies depending on currency pairs | Available on Islamic Accounts |
| CFDs on Stocks | Varies depending on the stock | Available on Islamic Accounts |
| Commodities | Varies depending on the commodity | Available on Islamic Accounts |
Swap fees are an important consideration for investors who plan to hold positions overnight.
The option to use an Islamic Account provides flexibility for those who need to avoid these fees.
Deposit and Withdrawal Fees
XM does not charge any fees on deposits or withdrawals.
It covers all transaction fees, ensuring that traders receive the full amount they deposit or withdraw.
This policy applies to all payment methods, including credit/debit cards, e-wallets, and bank transfers.
| Payment Method | Deposit Fee | Withdrawal Fee |
|---|---|---|
| Credit/Debit Card | None | None |
| E-Wallets | None | None |
| Bank Transfer | None | None |
The absence of deposit and withdrawal fees is a significant advantage, as it ensures that traders can manage their funds without incurring additional costs.
Inactivity Fee
An inactivity fee of $5 per month is charged after 90 days of no trading activity.
This fee continues to be charged monthly until the account balance reaches zero.
While inactivity fees are standard across the industry, it is important for people who may not trade frequently to be aware of this cost.
| Inactivity Period | Fee |
|---|---|
| 90 days | $5 per month |
The inactivity fee is relatively modest, but it is something to keep in mind for traders who may take extended breaks from trading.
Education and Research
XM places a strong emphasis on education and research, offering a wide range of resources to help clients expand their skills and stay informed about market developments.
This commitment to education is one of its key strengths.
Educational Resources
The broker offers an extensive range of educational materials suitable for both beginners and experienced traders.
These resources are designed to enhance client knowledge and develop effective trading strategies.
| Resource Type | Details |
|---|---|
| Webinars | Regular webinars in multiple languages covering various trading topics |
| Video Tutorials | Tutorials on using the platforms, understanding the markets, and developing strategies |
| Seminars | Global seminars offering insights from professionals |
| Interactive Courses | Courses covering basics to advanced trading concepts |
These educational resources provide traders with the tools they need to develop their skills and make more informed trading decisions.
The availability of materials in multiple languages ensures that the content is accessible to a global audience.
Research Tools
In addition to educational resources, XM offers tons of research tools that investors can use to stay informed and make better trading decisions.
These tools are especially valuable for those who rely on both technical and fundamental analysis.
| Research Tool | Details |
|---|---|
| Market Analysis | Daily market analysis covering forex, commodities, and indices |
| Economic Calendar | A calendar of key economic events and their potential impact on the markets |
| Technical Analysis Tools | Access to a range of technical indicators and charting tools |
| Trading Signals | Trade ideas generated by XM’s in-house team based on technical and fundamental analysis |
These research tools are designed to support traders in their decision-making process.
The daily market analysis and economic calendar help market participants stay updated on market conditions, while the technical analysis tools and trading signals provide actionable insights.
Customer Support
Customer support is a critical aspect of any brokerage service, and XM excels in this area by offering a comprehensive support system available 24/5.
The quality and accessibility of customer support can significantly impact a trader’s experience, particularly when dealing with technical difficulties or account inquiries.
Availability and Languages
XM provides customer support 24 hours a day, five days a week, ensuring that traders can receive assistance whenever the markets are open.
The broker offers support in over 30 languages, making it accessible to clients worldwide.
This multilingual support is particularly beneficial for non-English-speaking clients who may prefer to communicate in their native language.
The availability of support in multiple languages highlights the company’s commitment to serving a diverse client base.
Whether a trader speaks English, Spanish, Chinese, Arabic, or any of the other supported languages, they can expect to receive the help they need.
Contact Methods
Clients can reach their customer support team through various channels, ensuring that they can get help in the way that is most convenient for them.
| Contact Method | Details |
|---|---|
| Live Chat | Instant responses via the website |
| Email Support | Response typically within a few hours |
| Phone Support | Toll-free numbers in various countries |
| Social Media | Active presence on platforms like Facebook and Twitter |
The multiple contact methods ensure that clients can receive assistance quickly and efficiently.
Live chat is particularly useful for urgent inquiries, while email support is ideal for more detailed questions.
The availability of toll-free phone support in various countries further enhances accessibility.
Quality of Service
Its customer support is generally regarded as efficient and professional.
The support team is knowledgeable and capable of handling a wide range of issues, from technical problems with the trading platforms to inquiries about account management.
The broker’s commitment to customer satisfaction is evident in the quality of service provided, which has contributed to its positive reputation in the industry.
Safety of Funds
The safety of client funds is a top priority, and the broker has implemented several measures to ensure that funds are protected.
These measures provide traders with peace of mind, knowing that their money is safe.
Segregated Accounts
The broker holds client funds in segregated accounts, separate from the company’s operational funds.
This segregation ensures that client funds are not used for any operational purposes and are always available for withdrawal.
| Feature | Details |
|---|---|
| Segregated Accounts | Client funds held separately from company funds |
| Withdrawal Protection | Funds available for withdrawal at any time |
The use of segregated accounts is a standard practice among regulated companies and is designed to protect clients’ money in the event of financial difficulties within the company.
Negative Balance Protection
XM offers negative balance protection, which means that clients cannot lose more than the funds they have deposited.
In the event of extreme market volatility, the broker will automatically close positions to prevent accounts from going into a negative balance.
Negative balance protection is particularly important for those who use leverage, as it provides an additional layer of security against market movements that could otherwise result in significant losses.
Investor Compensation Fund
As a regulated broker under CySEC, XM is a member of the Investor Compensation Fund (ICF).
The ICF provides compensation to clients in the unlikely event that the company becomes insolvent, offering additional security.
The ICF membership ensures that clients are protected even in the worst-case scenario, further enhancing its reliability and trustworthiness.
SSL Encryption
The broker uses SSL encryption on its website and trading platforms to protect client data and ensure secure transactions.
This encryption technology prevents unauthorized access to sensitive information such as login credentials and payment details.
| Feature | Details |
|---|---|
| SSL Encryption | Protects client data and transactions |
SSL encryption is a critical component of online security, ensuring that all data transmitted is secure and cannot be intercepted by third parties.
Comparison with Competitors
To provide a clearer picture of the broker’s standing in the market, it is helpful to compare it with some of its key competitors.
This comparison will highlight the broker’s strengths and areas where it may differ from other popular firms.
XM vs. eToro
| Feature | XM | eToro |
|---|---|---|
| Regulation | CySEC, ASIC, IFSC | CySEC, FCA, ASIC |
| Minimum Deposit | $5 | $50 |
| Spread | From 0.6 pips (Ultra Low) | From 1 pip |
| Commission | No (except Shares Account) | No commission on stock CFDs |
| Trading Platforms | MT4, MT5, WebTrader | Proprietary Platform |
| Cryptocurrencies | Not available | Available |
| Social Trading | Not available | Available |
| Educational Resources | Extensive | Moderate |
The comparison with eToro shows that while XM offers a lower minimum deposit and access to industry-standard platforms like MT4 and MT5, eToro stands out with its proprietary platform and social trading features.
However, XM provides more extensive educational resources, which may appeal to traders looking to elevate their skills.
XM vs. Plus500
| Feature | XM | Plus500 |
|---|---|---|
| Regulation | CySEC, ASIC, IFSC | FCA, CySEC, ASIC |
| Minimum Deposit | $5 | $100 |
| Spread | From 0.6 pips (Ultra Low) | From 0.8 pips |
| Commission | No (except Shares Account) | No commission |
| Trading Platforms | MT4, MT5, WebTrader | Proprietary Platform |
| Cryptocurrencies | Not available | Available |
| Educational Resources | Extensive | Limited |
The comparison with Plus500 highlights XM’s advantages in terms of lower minimum deposits and tighter spreads.
While Plus500 offers cryptocurrency trading, XM’s stronger educational offerings make it more attractive for traders who prioritize learning and development.
XM vs. IG
| Feature | XM | IG |
|---|---|---|
| Regulation | CySEC, ASIC, IFSC | FCA, ASIC, CFTC |
| Minimum Deposit | $5 | $300 |
| Spread | From 0.6 pips (Ultra Low) | From 0.6 pips |
| Commission | No (except Shares Account) | Commission on some trades |
| Trading Platforms | MT4, MT5, WebTrader | MT4, ProRealTime, L2 Dealer |
| Research Tools | Comprehensive | Extensive |
The comparison with IG shows that while both brokers offer competitive spreads and access to MT4, IG’s higher minimum deposit and additional commissions on certain trades may be a consideration for cost-conscious investors.
However, IG’s extensive research tools and additional platform options might appeal to more advanced users.
Conclusion
XM is a well-regulated and reliable broker that offers a comprehensive range of trading instruments and account types tailored to meet the needs of traders at all levels.
Its commitment to transparency, as evidenced by its clear fee structure and the absence of hidden charges, makes it a trustworthy choice for both novice and experienced traders.
The wide variety of trading platforms, including MT4, MT5, and WebTrader, ensures that anybody can find a platform that suits their specific needs.
The availability of educational resources and research tools further enhances the trader’s experience, providing the knowledge and insights needed to make informed trading decisions.
While XM does not offer cryptocurrency trading or social trading features, its strong focus on traditional asset classes such as forex, stocks, commodities, and indices makes it an excellent choice for investors who prefer these markets.
The broker’s low minimum deposit requirements, competitive spreads, and comprehensive customer support make it accessible to clients worldwide.
In summary, XM is an excellent choice for those who seek a broker with a global presence, strong regulatory oversight, and a focus on client education and support.
Its user-friendly platforms, variety of account types, and commitment to customer service make it a preferred choice for traders across the globe.
Whether you are a beginner looking to learn the ropes or an experienced trader seeking competitive trading conditions, XM has the tools and resources to help you succeed in the financial markets.
Visit official website: www.xm.comFAQ
Is XM a regulated broker?
Yes, it is regulated by multiple authorities including CySEC, ASIC, and IFSC.
What is the minimum deposit required to open an account?
The minimum deposit is just $5, making it accessible for traders with various budget levels.
Does XM offer negative balance protection?
Yes, it provides negative balance protection, ensuring that traders cannot lose more than their initial deposit.
What platforms does XM support?
XM supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Are there any fees for deposits or withdrawals?
XM does not charge fees for deposits, but withdrawal fees may apply depending on the method used.
Can I open an Islamic account with XM?
Yes, it offers Islamic accounts that comply with Sharia law, available upon request.
What types of accounts are available?
XM offers various account types including Micro, Standard, and XM Ultra Low Accounts to cater to different trading needs.
References and Sources
- Official Website: https://www.xmglobal.com
- Twitter: https://twitter.com/XM_COM
- LinkedIn profile: https://www.instagram.com/xmpakistan
- Trustpilot: https://www.trustpilot.com/review/xm.com
- YouTube: https://www.youtube.com/channel/UC3G2LxdQoq5QwdeTWpiZ91g
- Facebook: https://www.facebook.com/xmpakistan
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Article written, edited and reviewed by
Last updated: September 8, 2025
