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LeverageUp to 1:30 (EU-regulated entity)
Minimum Deposit$5
Year Established 2009
Payment methodsVisa, MasterCard, Skrill, Neteller, Int. Wire Transfer
Publicly Traded
Type of BrokerMarket Maker
Trading AssetsForex, Stocks, Commodities, Indices, Metals
Demo Account
Islamic Account
Deposit Fee
Withdrawal Fee
Offers Official Website

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Pros and Cons

  • Regulatory Compliance: XM Broker holds licenses from multiple regulators, including CySEC, ensuring compliance with stringent financial standards.
  • MetaTrader Platforms: Traders can access the popular MetaTrader 4 and MetaTrader 5 platforms, known for their robust functionality.
  • Account Variety: The broker offers micro and standard accounts, catering to traders with varying levels of experience.
  • Educational Resources: XM provides free Forex market analysis, daily webinars, and trading signals to enhance traders’ knowledge.
  • Negative Balance Protection: Traders benefit from protection against negative balances, minimizing potential losses.
  • Limited Cryptocurrency Offerings: XM Broker’s range of cryptocurrency assets is more limited compared to some competitors.
  • Standard Account Spreads: Standard account spreads may be less competitive when compared to industry leaders.
  • No Proprietary Platform: The broker does not offer proprietary trading platforms, relying solely on MetaTrader.


XM Broker is a well-established and globally recognized online trading platform that has been serving traders for over a decade.

Founded in 2009, it has earned a reputation for providing a wide range of financial instruments and trading services to clients around the world.

With a commitment to transparency, innovation, and client satisfaction, XM Broker has become a prominent name in the competitive world of online trading.

1. Regulation and Trustworthiness:

One of the standout features of XM Broker is its commitment to regulatory compliance and client safety.

The company is authorized and regulated by multiple renowned regulatory bodies, including ASIC (Australia), FSC (Belize), CySEC (Cyprus), and DFSA (UAE).

This global regulatory presence instills trust and confidence in traders, as it means it operates under strict financial regulations and follows industry best practices.

2. Trading Platforms:

XM offers many trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms are known for their user-friendly interfaces, advanced charting tools, and customizable features, making them suitable for traders of all levels, from beginners to experienced professionals.

3. Account Diversity:

To cater to a broad range of traders, the broker provides multiple account types, including micro, standard, and zero-spread accounts.

This diversity allows traders to select an account that aligns with their trading style and preferences, whether they are looking for low spreads or a more traditional trading experience.

4. Educational Resources:

The company is committed to empowering traders with knowledge.

It also offers an extensive selection of educational resources, including webinars, articles, video tutorials, and more.

This commitment to education is particularly beneficial for traders looking to enhance their skills and understanding of the financial markets.

5. Research and Analysis:

Traders at XM Broker have access to comprehensive research and analysis tools.

Daily market insights, economic calendars, and expert commentary provide valuable information for making informed trading decisions.

Additionally, the broker offers trading signals and copy trading services, allowing traders to follow experienced investors’ strategies.

6. Customer Support:

A responsive and multilingual customer support team is available 24/5 to assist clients with their inquiries and concerns.

This ensures that traders can access assistance whenever they need it, regardless of their location.

7. Innovative Features:

The Broker continually innovates its services, offering features like protection against negative balance to safeguard traders from excessive losses.

It also supports automated trading strategies and social trading, enhancing the trading experience.

8. Global Reach:

XM Broker has a global presence, serving clients from various regions worldwide. Its services are accessible to traders from Europe, Asia, Africa, and beyond, making it a truly international brokerage.

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Editor’s Verdict

The broker presents a reputable option for traders seeking a well-regulated broker with a focus on client education and security.

Its multi-regulator approach ensures global accessibility, and the availability of MetaTrader platforms offers a familiar trading environment.

The provision of micro and standard accounts caters to traders at different stages of their journey.

Despite some drawbacks, such as limited cryptocurrency offerings and standard account spreads, XM’s commitment to negative balance protection and educational resources positions it favorably in the industry.


This Broker offers competitive fee structures, including tight spreads for certain account types.

While standard account spreads may be less competitive compared to some industry leaders, it provides transparent fee information to assist traders in making informed decisions.

Range of Assets

Traders have access to a diverse range of assets, including Forex currency pairs, stocks, commodities, indices, metals, and energies.

However, the cryptocurrency offerings are relatively limited compared to some other brokers.

Leverage and Trading Hours

Leverage levels of up to 1:30 are available for clients registered under the EU-regulated entity of XM Group, adhering to MiFID regulations.

Trading hours vary depending on the asset class, with 24/5 availability for Forex trading.

Account Types Offered

This broker offers multiple account types to suit traders’ preferences and experience levels.

These include Micro, Standard, XM Ultra Low Micro, and XM Zero accounts, each with its own unique features and trading conditions.

Demo Account

This broker offers demo accounts that provide traders with a risk-free and realistic trading environment.

Here are the key points:

  • Realistic Trading: XM’s demo accounts replicate live market conditions.
  • No Financial Risk: Traders use virtual funds, eliminating the risk of losing real money.
  • Multiple Platforms: Access demo accounts on MT4, MT5, or XM WebTrader.
  • Unlimited Access: Practice and learn for as long as needed.
  • Real-Time Data: Get accurate market information, charts, and news feeds.
  • Educational Tool: Perfect for learning trading concepts and risk management.
  • Seamless Transition: Easily switch to a live trading account when ready.
  • Multi-Device Access: Trade on desktops, smartphones, and tablets.
  • Multiple Assets: Explore forex, commodities, stocks, indices, and more.

XM’s demo accounts are suitable for traders of all levels, offering valuable practice and learning opportunities before trading with real money.

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Trading Platforms

This broker provides a range of versatile and powerful trading platforms to cater to the diverse needs of traders.

Here’s a brief look at these platforms:

  1. MetaTrader 4 (MT4): The industry-standard platform known for its user-friendly interface, advanced charting tools, technical indicators, and automated trading capabilities. It’s available for desktop, web, and mobile devices.
  2. MetaTrader 5 (MT5): A more advanced version of MT4, MT5 offers additional timeframes, more technical indicators, an economic calendar, and support for a wider range of financial instruments. It’s also available on various devices.
  3. XM WebTrader: A web-based platform that allows traders to access their accounts and trade directly from their web browsers without any downloads. It’s ideal for traders who prefer a more lightweight solution.
  4. XM Mobile App: Traders can stay connected and trade on the go using the XM mobile app, available for both Android and iOS devices. It provides full account functionality and real-time market access.


Over the years, the broker has earned numerous awards and accolades for its commitment to excellence in the forex trading industry.

Some key awards and recognitions include:

  1. Best Forex Service Provider: The broker has been consistently recognized as a top service provider by industry experts and organizations.
  2. Best Customer Support: Its dedication to providing exceptional customer support has been acknowledged with awards for excellence in client assistance.
  3. Innovative Forex Broker: Their innovative approach to trading and technological advancements has earned it recognition as an innovative leader in the field.
  4. Best Research and Education: The broker’s comprehensive research and educational resources have been praised, making it a preferred choice for traders seeking knowledge and insights.
  5. Trusted and Regulated Broker: XM Broker’s commitment to regulatory compliance and client security has earned it trust and recognition from traders worldwide.

These awards reflect its continuous efforts to deliver top-quality services, support, and resources to its clients.

As a trader with XM Broker, you can benefit from their award-winning services and expertise.

Regulation and Security

The broker’s multi-regulator approach, including CySEC, ASIC, FCA, CFTC, and MiFID, enhances its regulatory compliance and security measures.

Traders benefit from protection against negative balances, further bolstering security.

Research and Education

XM provides valuable educational resources, including daily Forex market analysis, webinars, and trading signals, catering to both novice and experienced traders.

Customer Support

It offers customer support via 24/5 live chat, email, and phone, ensuring traders have access to assistance when needed.

Bonuses and Promotions

This broker periodically offers various promotional bonuses, enhancing the trading experience for its clients.

Account Opening

Opening an account with XM Broker is a straightforward process.

Here are the detailed steps to get started:

Step 1: Visit the XM Broker Website

  • Go to the official XM Broker website by typing www.xm.com into your web browser.

Step 2: Click on “Open an Account”

  • On the homepage, click on the “Open an Account” button located in the top-right corner.

Step 3: Choose Your Account Type

  • You will be presented with different account types.
  • Select the one that suits your trading preferences (e.g., Micro, Standard, XM Ultra Low).

Step 4: Fill in Your Personal Information

  • Complete the registration form with your personal information, including your name, email address, country of residence, and phone number.

Step 5: Set Your Account Preferences

  • Customize your trading account by specifying your preferred account base currency (e.g., USD, EUR, GBP).

Step 6: Verify Your Identity

  • You’ll need to verify your identity by providing a valid government-issued photo ID (e.g., passport, driver’s license) and proof of address (e.g., utility bill, bank statement).

Step 7: Agree to Terms and Conditions

  • Read and accept the broker’s terms and conditions and policies.

Step 8: Choose Your Platform

  • Select the trading platform you want to use (e.g., MT4, MT5).

Step 9: Fund Your Account

  • After your account is approved, you can deposit funds using various payment methods like credit/debit cards, e-wallets, or bank transfers.

Step 10: Start Trading

  • Once your account is funded, you can log in to your chosen trading platform and start trading forex, commodities, stocks, and more.

Step 11: Verify Your Identity (if required)

  • Depending on your region and regulatory requirements, you may need to complete additional identity verification steps.

Please note that the account opening process may vary slightly based on your location and regulatory requirements.

Ensure that you provide accurate information during registration, and follow any additional steps or requests from XM Broker to complete your account setup.

Payment Methods

The broker offers tons of payment methods for both depositing funds into your trading account and withdrawing your profits.

These payment methods cater to traders from around the world, making it convenient to manage your finances with the broker.

Here are the details on payment methods available:

Deposit Methods:

  1. Credit/Debit Cards: The broker accepts major credit and debit cards, including Visa, MasterCard, Maestro, and more. Deposits are usually processed instantly.
  2. Bank Wire Transfer: You can fund your trading account via bank wire transfer. This method is suitable for larger deposits, but it may take a few business days to complete the transfer.
  3. Online Payment Systems: The broker supports various online payment systems such as Skrill, Neteller, and many others. These methods offer quick and secure deposits.
  4. Local Bank Transfer: Depending on your country of residence, you may have the option to use local bank transfer methods for deposits.

Withdrawal Methods:

  1. Credit/Debit Cards: Withdrawals to the same card used for deposit are typically supported. It may take a few business days for the funds to reflect in your account.
  2. Bank Wire Transfer: Withdrawals can be processed via bank wire transfer. This method is suitable for larger withdrawals, but may involve fees and take several business days to complete.
  3. Online Payment Systems: You can withdraw your funds to your preferred online payment system, such as Skrill or Neteller.
  4. Local Bank Transfer: Depending on your location, you may have the option to use local bank transfer methods for withdrawals.

It’s important to note that the availability of specific payment methods may vary depending on your country of residence and the regulatory framework in place.

Additionally, the broker may have specific policies regarding deposit and withdrawal fees, processing times, and minimum/maximum transaction amounts.

Therefore, it’s advisable to visit the XM Broker website or contact their customer support for the most up-to-date information on payment methods and associated terms and conditions.

Deposits and Withdrawals

Deposits and withdrawals can be executed conveniently through the supported payment methods, with competitive processing times.

Is XM Broker a Good Broker?

XM Broker is a reputable choice for traders looking for a well-regulated broker with a focus on education and security.

Its range of account types, diverse assets, and commitment to negative balance protection make it a suitable option for both beginners and experienced traders.

Alternative Brokers & Comparisons

While this broker offers a robust trading experience, traders may also consider alternative brokers and make comparisons based on their specific trading preferences and goals.

1. XM Broker vs. FOREX.com:

  • Regulation: Both brokers are well-regulated, with FOREX.com being regulated in the United States by the CFTC and NFA, while XM Broker holds licenses from multiple international regulators.
  • Trading Platforms: XM Broker offers the popular MetaTrader platforms, while FOREX.com provides its proprietary trading platform along with MetaTrader options.
  • Account Types: XM Broker offers a wide array of account types, including micro and standard accounts. FOREX.com also offers a range of account types.
  • Leverage: Leverage levels are subject to regulation, and both brokers adhere to regulatory guidelines.
  • Research and Education: XM Broker is known for its extensive research and educational resources. FOREX.com also provides a wide range of research tools and educational materials.
  • Fees: Fee structures may vary, so it’s important to compare spreads, commissions, and other fees based on your trading preferences.

2. XM Broker vs. IG Group:

  • Regulation: Both brokers are well-regulated globally.
  • Trading Platforms: IG Group offers its proprietary platform along with MetaTrader options, similar to XM Broker.
  • Account Types: XM Broker provides micro, standard, and ultra-low spread accounts. IG Group offers various account types.
  • Leverage: Leverage levels are subject to regulation and may differ between the two brokers.
  • Research and Education: Both brokers offer comprehensive research and educational resources.
  • Fees: Compare spreads, commissions, and other fees to determine the cost-effectiveness for your trading style.

3. XM Broker vs. Plus500:

  • Regulation: Plus500 is regulated in multiple jurisdictions, while XM Broker holds licenses from several regulators as well.
  • Trading Platforms: XM Broker offers MetaTrader platforms, whereas Plus500 has its proprietary platform.
  • Account Types: XM Broker provides various account types, including micro and standard accounts. Plus500 offers a single account type.
  • Leverage: Leverage levels may differ, so check the specific offerings of each broker.
  • Research and Education: XM Broker is known for its extensive research and educational content. Plus500 offers fewer educational resources.
  • Fees: Compare spreads, commissions, and other fees to assess the overall cost of trading with each broker.

When choosing a broker, consider factors such as regulation, available trading platforms, account types, leverage, research tools, educational resources, and fees.

It’s also essential to evaluate your trading strategy and preferences to determine which broker aligns best with your needs.

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In conclusion, XM Broker’s multi-regulator status, availability of MetaTrader platforms, educational resources, and negative balance protection position it as a reliable broker in the industry.

While it may have some limitations in terms of cryptocurrency offerings and standard account spreads, its commitment to trader education and safety makes it a compelling choice for traders worldwide.

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FAQ – Frequently Asked Questions

✅ Is XM Broker regulated?

Yes, XM Broker is regulated by multiple financial authorities, including CySEC (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission), FSC (Financial Services Commission of Belize), and DFSA (Dubai Financial
Services Authority). These regulatory bodies ensure the broker operates within legal and ethical guidelines.

➡️ What types of accounts are offered by XM Broker?
The broker provides various account types, including XM Ultra Low Micro, XM Ultra Low Standard, and XM Zero accounts. These accounts cater to different trading preferences and have varying features.

💱 What trading platforms are available on XM Broker?

This broker offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, available in desktop, web, and mobile versions. Additionally, they provide the XM App for smartphones and tablets.

What are the minimum deposit requirements on XM Broker?

The minimum deposit requirement on this broker is $5, making it accessible to traders with various budget levels.

Does XM Broker offer a demo account?

Yes, the broker offers a demo account that allows traders to practice trading with virtual funds. It’s a risk-free way to familiarize yourself with the platform and test trading strategies.

Does XM Broker offer Islamic accounts?

Yes, This broker offers Islamic accounts, also known as swap-free accounts, which comply with Islamic finance principles and do not involve overnight swaps.

Are there fees for deposits and withdrawals on XM Broker?

The broker does not charge fees for deposits or withdrawals. However, it’s essential to check with your payment provider, as they may have their fees.

Is XM Broker publicly traded?

No, This broker is not publicly traded; it operates as a private brokerage firm.

Is XM Broker suitable for beginners?

Yes, XM Broker is suitable for beginners. They offer micro accounts with a low minimum deposit requirement of $5, allowing novice traders to get started with a small investment. Additionally, the broker provides educational resources such as webinars, articles, and video tutorials, making it accessible for those new to forex trading.

Does XM Broker offer any bonuses or promotions to traders?

Yes, the broker often runs various promotional campaigns and bonuses for both new and existing traders. These promotions can include deposit bonuses, cashback programs, and other incentives. The terms and conditions of these offers may vary, so it’s advisable to check the official XM Broker website or contact their customer support for the most up-to-date information on available bonuses and promotions.

References and Sources

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Article written, edited and reviewed by


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Last updated: July 5, 2024