XM Review

XM Review Overall, XM can be summarised as a highly regulated Forex Broker specializing in Forex and CFD. XM offers access to 55 currency pairs, excellent customer support and it has a trust score of 97 out of 99.

Regulated and trusted by FSC, DFSA, CySEC, ASIC, and, the FSCA.

6762 new traders chose this broker in the last 90 days.

Available for global Traders.

Broker	XM
Year Founded	2009
Amount of Staff	450+ employees
Amount of Active Traders	5,000,000+ traders worldwide
Publicly Traded	None
Regulation	FSC, DFSA, CySEC, ASIC, FSCA
Safety and Security	High
Account Segregation	Yes
Negative Balance Protection	Yes
Investor Protection Schemes	Yes
Institutional Accounts	None
Managed Accounts	None
Minor Account Currencies	USD, EUR, GBP, JPY, AUD
Minimum Deposit	5 USD
Average Deposit/Withdrawal Time	24 hours
Fund Withdrawal Fee	None
Spreads From	0.6 pips on major pairs
Commissions	Zero commissions on most account types
Number of Base Currencies	11+
Swap Fees	Yes
Leverage	Up to 1:888
Margin Requirements	Variable
Islamic Account	Yes
Demo Account	Yes
Order Execution Time	0.01 seconds
VPS Hosting	Free VPS
CFDs Total	1,000+
CFD Stock Indices	14+
CFD Commodities	8+
CFD Shares	1,200+
Deposit Options	Bank Wire, Credit/Debit Card, eWallets, Local Payment Methods
Withdrawal Options	Bank Wire, Credit/Debit Card, eWallets, Local Payment Methods
Trading Platforms	MetaTrader 4, MetaTrader 5
OS Compatibility	Windows, macOS, Android, iOS
Forex Trading Tools	Technical analysis, trading signals, economic calendar, Autochartist
Customer Support	Multiple Channels
Live Chat Availability	24/5
Customer Support Email	support@xm.com
Customer Support Contact Number	+501 223-6696 +501 227-9421
Social Media Platforms	Facebook, Twitter, Instagram, LinkedIn, YouTube
Languages Supported	25+
Forex Course	Yes
Webinars	Yes
Educational Resources	Video tutorials, trading guides, market analysis, blog
Affiliate Program	Yes
Amount of Partners	100,000+
IB Program	Yes
Sponsors events or teams	Yes
Rebate Program	Yes
Cent or Micro Accounts	Yes
Open an Account	Click Here

Overview

XM is a prominent global forex and CFD broker, established in 2009. With a client base exceeding 5 million active traders worldwide and a team of over 450 professionals, XM provides access to an extensive selection of financial instruments, including 1,000+ CFDs, forex pairs, commodities, stock indices, and shares. Renowned for its secure trading environment, XM ensures industry-standard protections like segregated accounts, negative balance protection, and investor compensation schemes.

The broker is regulated by top-tier financial authorities such as the FSC, DFSA, CySEC, ASIC, and FSCA, offering traders a high level of trust and security.

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Frequently Asked Questions

Is XM a secure platform for trading?
Yes, XM is considered highly secure, being regulated by reputable authorities like CySEC, ASIC, and DFSA. It provides safeguards such as segregated accounts, negative balance protection, and investor protection schemes.

What is the minimum deposit to start trading with XM?
The minimum deposit is just $5, making XM accessible to traders with smaller initial capital.

Does XM charge withdrawal fees?
No, XM does not impose withdrawal fees, helping traders minimize their transaction costs.

Can I trade using MetaTrader on XM?
Yes, XM supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are compatible with Windows, macOS, Android, and iOS devices, offering flexibility and convenience.

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Our Insights

XM stands out as a dependable and user-friendly broker suitable for traders of all experience levels. With a diverse range of instruments, strong regulatory oversight, competitive spreads, and excellent customer service, XM is a top choice in the forex and CFD trading space.

Detailed Summary

 

Broker	XM
Year Founded	2009
Amount of Staff	450+ employees
Amount of Active Traders	5,000,000+ traders worldwide
Publicly Traded	None
Regulation	FSC, DFSA, CySEC, ASIC, FSCA
Safety and Security	High
Account Segregation	Yes
Negative Balance Protection	Yes
Investor Protection Schemes	Yes
Institutional Accounts	None
Managed Accounts	None
Minor Account Currencies	USD, EUR, GBP, JPY, AUD
Minimum Deposit	5 USD
Average Deposit/Withdrawal Time	24 hours
Fund Withdrawal Fee	None
Spreads From	0.6 pips on major pairs
Commissions	Zero commissions on most account types
Number of Base Currencies	11+
Swap Fees	Yes
Leverage	Up to 1:888
Margin Requirements	Variable
Islamic Account	Yes
Demo Account	Yes
Order Execution Time	0.01 seconds
VPS Hosting	Free VPS
CFDs Total	1,000+
CFD Stock Indices	14+
CFD Commodities	8+
CFD Shares	1,200+
Deposit Options	Bank Wire, Credit/Debit Card, eWallets, Local Payment Methods
Withdrawal Options	Bank Wire, Credit/Debit Card, eWallets, Local Payment Methods
Trading Platforms	MetaTrader 4, MetaTrader 5
OS Compatibility	Windows, macOS, Android, iOS
Forex Trading Tools	Technical analysis, trading signals, economic calendar, Autochartist
Customer Support	Multiple Channels
Live Chat Availability	24/5
Customer Support Email	support@xm.com
Customer Support Contact Number	+501 223-6696 +501 227-9421
Social Media Platforms	Facebook, Twitter, Instagram, LinkedIn, YouTube
Languages Supported	25+
Forex Course	Yes
Webinars	Yes
Educational Resources	Video tutorials, trading guides, market analysis, blog
Affiliate Program	Yes
Amount of Partners	100,000+
IB Program	Yes
Sponsors events or teams	Yes
Rebate Program	Yes
Cent or Micro Accounts	Yes
Open an Account	Click Here

Frequently Asked Questions

Are there any fees for deposits or withdrawals at XM?
No, XM does not charge any fees for deposits or withdrawals, regardless of the payment method.

Can I open a demo account with XM?
Yes, XM provides a free demo account, allowing traders to practice and test strategies without financial risk.

What trading instruments are available on XM?
XM offers a diverse selection of over 1,000 CFDs, including forex, stock indices, commodities, shares, and more.

Does XM provide educational resources for beginners?
Yes, XM offers extensive educational materials, including video tutorials, webinars, market analysis, and trading guides to support new traders in developing their skills.

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Our Insights

XM not only offers a user-friendly trading environment but also a robust affiliate program with over 100,000 partners. Traders can further benefit from the Introducing Broker (IB) program and various rebate opportunities.

Safety and Security

XM places a strong emphasis on client safety by adhering to rigorous regulatory standards and employing advanced security protocols. The broker is regulated by leading financial authorities such as CySEC, ASIC, and IFSC, ensuring strict compliance with fiscal standards and operational transparency.

To safeguard digital transactions, XM employs SSL encryption, which protects sensitive personal and financial data during transmission. Additionally, the platform offers two-factor authentication (2FA) to enhance account security and minimize the risk of unauthorized access.

Client funds are further protected through the use of segregated accounts, ensuring they are separate from the company’s operational funds. This measure provides an added layer of security in the event of financial instability.

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Frequently Asked Questions

Is XM regulated?
Yes, XM is regulated by several top-tier financial authorities, including CySEC, ASIC, and IFSC.

Does XM provide two-factor authentication?
Yes, XM offers 2FA to enhance account security and prevent unauthorized access.

Are client funds secure with XM?
Yes, client funds are kept in segregated accounts, separate from the broker’s operational funds, ensuring protection in case of financial issues.

How does XM secure my personal data?
XM uses SSL encryption to protect all data transmitted between your device and its servers.

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Our Insights

XM combines strong regulatory oversight with advanced security measures like SSL encryption, two-factor authentication, and segregated accounts, making it a reliable and secure trading platform for clients worldwide.

Minimum Deposit and Account Types

XM accommodates traders of all experience levels with a variety of account types and a low minimum deposit requirement of just $5. Each account type is tailored with specific features, spreads, and leverage options, allowing traders to choose what aligns best with their needs and trading style.

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Micro Account

Designed for beginners, the Micro Account offers smaller lot sizes (1,000 units) and requires a minimum deposit of $5. Key features include:

• Spreads: Starting from 1.7 pips.
• Leverage: Adjustable based on account balance.
• Commission: None.
• Supports hedging, offers negative balance protection, and includes an Islamic account option.

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Standard Account

The Standard Account caters to both beginners and experienced traders, offering standard lot sizes (100,000 units). Features include:

• Minimum Deposit: $5.
• Spreads: Starting from 1.7 pips.
• Leverage: Adjustable.
• Commission: None.
• Supports hedging, Islamic accounts, and negative balance protection.

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Ultra-Low Account

The Ultra-Low Account is ideal for traders seeking tighter spreads and reduced costs. Features include:

• Spreads: Starting as low as 0.7 pips for major pairs like EUR/USD.
• Account Sizes: Standard (100,000 units) or Micro (1,000 units).
• Leverage: Flexible.
• Commission: None.
• Includes negative balance protection.

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Shares Account

This account is tailored for traders focusing on individual shares. Features include:

• Minimum Deposit: $10,000.
• Platform: Available only on MT5.
• Leverage: Not supported.
• Commissions: Starting at $1 per share.
• Negative balance protection is not available.

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Demo Account

The Demo Account is a risk-free way for traders to practice using virtual funds.

• Simulates real market conditions across forex, indices, stocks, and commodities.
• Expires after three months of inactivity to encourage consistent learning.

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Islamic Account

XM offers swap-free Islamic Accounts for the Micro, Standard, and Ultra-Low account types. These accounts are compliant with Islamic finance principles and do not incur additional fees.

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Frequently Asked Questions

What is the minimum deposit for opening an account with XM?
The minimum deposit for Micro, Standard, and Ultra-Low Accounts is just $5, making XM highly accessible.

Can I trade shares with XM?
Yes, the Shares Account allows you to trade individual shares with a minimum deposit of $10,000. It is commission-based and does not support leverage.

Does XM offer Islamic accounts?
Yes, Islamic Accounts are available for the Micro, Standard, and Ultra-Low account types, offering a swap-free trading environment.

Is there a demo account available on XM?
Yes, XM provides a free Demo Account with virtual funds to practice trading without financial risk.

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Our Insights

XM stands out for its versatile account offerings, catering to traders of all levels. With a low minimum deposit of $5, adjustable leverage, and specialized account types like the Shares and Islamic accounts, XM delivers an accessible and customizable trading experience.

How to Open an Account with XM

Opening an account with XM is straightforward. Follow these steps to begin trading:

1. Visit the XM website and click on “Open a Real Account.”
2. Select the account type that aligns with your trading needs.
3. Complete the online registration form with your personal details.
4. Choose your preferred trading platform: MetaTrader 4 (MT4) or MetaTrader 5 (MT5).
5. Set your desired account leverage.
6. Verify your identity by submitting the required documents.
7. Fund your account using methods such as bank transfer, credit card, or e-wallet.

Once your account is verified and funded, you’re ready to start trading on your selected platform.

Trading Platforms and Software

XM provides access to two robust trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5), alongside a feature-rich mobile app for trading on the go.

MetaTrader 4 (MT4)

MT4 is renowned for its intuitive interface and advanced technical analysis capabilities. Key features include:

• A wide range of customizable indicators and drawing tools.
• Multi-language support for global accessibility.
• Compatibility with expert advisors (EAs) for automated trading.

Ideal for traders of all experience levels, MT4 combines simplicity with powerful features.

MetaTrader 5 (MT5)

MT5 builds upon MT4’s foundation, adding advanced functionality such as:

• Support for both hedging and netting.
• An integrated economic calendar to stay updated on key market events.
• A broader range of order types for more flexible trading strategies.

Designed for traders seeking additional features and expanded market analysis tools.

XM Mobile App

The XM mobile app is available for Android and iOS devices, offering:

• Secure login options like fingerprint or face recognition.
• Full trading capabilities, including charting tools and real-time alerts.
• The ability to trade and manage accounts from virtually anywhere.

Perfect for traders who value flexibility and need to stay connected to the markets.

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Frequently Asked Questions

Can I trade on mobile with XM?
Yes, the XM mobile app for Android and iOS offers full trading functionality and real-time updates.

What platforms does XM support?
XM supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which are packed with advanced features.

Does MT5 have additional features compared to MT4?
Yes, MT5 supports hedging, netting, and includes an economic calendar for market event tracking.

Is MT4 customizable?
Yes, MT4 allows traders to personalize the interface to suit their trading style and preferences.

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Our Insights

XM excels in providing versatile trading platforms. MetaTrader 4 and 5 cater to different trading needs, while the mobile app ensures seamless trading from anywhere. Whether you’re a beginner or an advanced trader, XM’s platform options offer the tools needed for successful trading.

Fees, Spreads, and Commissions

XM is known for its competitive cost structure, with fees tailored to different account types and trading instruments.

Spreads

XM offers variable spreads that adjust according to market conditions:

• For major pairs like EUR/USD, spreads start as low as 1 pip.
• Ultra-Low accounts provide even tighter spreads, ideal for active or scalping traders.
• Spreads vary across asset classes, so traders should consider their strategy and account type to optimize costs.

Commissions

• No commissions are charged on most accounts, including Micro, Standard, and Ultra-Low accounts.
• The Shares Account charges commissions starting at $1 per share, depending on stock liquidity, with a maximum of $9 per share.

Overnight Fees (Swap Fees)

XM applies overnight fees for positions held past the trading day:

• Swap rates depend on the instrument, position type (long or short), and trade size.
• Example: A long EUR/USD position incurs a swap of -8.48 pips, while a short position earns +1.52 pips.
• Swap fees for other assets, like US100 Cash or XAU/EUR, differ, making it essential to review rates for specific instruments.

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Frequently Asked Questions

What are the spreads like at XM?
XM offers variable spreads starting from 1 pip for major currency pairs, with even tighter spreads available for Ultra-Low account holders.

Does XM charge commissions on all accounts?
No, most accounts are commission-free. Only the Shares Account charges a commission, beginning at $1 per share.

What are XM’s overnight fees?
Overnight fees vary by asset and position. For instance, a long EUR/USD position has a -8.48 pips swap fee, while a short position earns +1.52 pips.

How can I reduce trading costs with XM?
To minimize costs:

• Opt for an Ultra-Low account for tighter spreads.
• Avoid holding positions overnight when possible to bypass swap fees.

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Our Insights

XM stands out with its transparent pricing structure, offering:

• No commission fees on most accounts.
• Competitive spreads starting at 1 pip.
• Flexible account options to suit various trading styles.

While swap fees are unavoidable for overnight positions, XM’s overall cost framework is highly favorable, particularly for forex and CFD traders. Traders should consider their trading frequency and instrument choice to manage costs effectively.

Inactivity and Trading Fees

XM provides a cost-effective trading environment by eliminating deposit and withdrawal fees, allowing traders to manage their funds without additional costs.

Inactivity Fees

• Dormant Accounts: After 12 months of inactivity, a $15 maintenance fee is charged.
• Ongoing Dormancy: If inactivity continues, a $5 monthly fee is applied.
• Prevention Tip: Avoid inactivity fees by making at least one trade or deposit every 12 months.

Currency Conversion Fees

• Applied when deposits or withdrawals are made in a currency different from your account’s base currency.
• Fees are determined based on real-time exchange rates, so traders working across multiple currencies should factor this into their cost planning.

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Frequently Asked Questions

Are there any deposit or withdrawal fees with XM?
No, XM does not charge deposit or withdrawal fees, offering cost efficiency for fund management.

Does XM charge inactivity fees?
Yes, accounts inactive for 12 months incur a $15 maintenance fee, with a $5 monthly fee for continued inactivity.

Are there currency conversion fees?
Yes, XM applies currency conversion fees for transactions in non-base account currencies.

How can I avoid inactivity fees?
Ensure your account remains active by making at least one trade or deposit within a 12-month period.

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Our Insight

XM’s absence of deposit and withdrawal fees enhances its appeal by minimizing operational costs. However, traders should stay vigilant to avoid inactivity fees by maintaining account activity and be mindful of currency conversion costs when trading in multiple currencies.

Markets Available for Trade

XM offers a broad range of trading instruments to cater to diverse strategies and preferences:

• 55 Currency Pairs: Including major, minor, and exotic pairs.
• 31 Cryptocurrencies: Trade popular digital assets like Bitcoin, Ethereum, and more.
• 1,337 Stock CFDs: Covering global companies from various industries.
• 8 Commodities: Providing opportunities in agricultural and industrial markets.
• 20 Equity Indices: Track performance across global stock markets.
• 5 Precious Metals: Including gold, silver, and other sought-after metals.
• 8 Energy Commodities: Focused on markets like oil and natural gas.
• 100 Individual Shares: Direct access to specific company stocks.

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Frequently Asked Questions

How many currency pairs can I trade with XM?
XM offers 55 currency pairs, spanning major, minor, and exotic pairs.

Can I trade cryptocurrencies with XM?
Yes, XM provides access to 31 cryptocurrencies, allowing traders to diversify into digital assets.

Does XM offer stock CFDs?
Yes, XM offers 1,337 stock CFDs, providing broad exposure to global equities.

What commodities and indices can I trade on XM?
You can trade 8 commodities, 20 equity indices, 5 precious metals, and 8 energy commodities.

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Our Insights

XM stands out for its extensive array of trading instruments, supporting diverse strategies. Whether you’re interested in forex, cryptocurrencies, or CFDs on stocks, commodities, and indices, XM provides a well-rounded selection for traders seeking flexibility and variety in their portfolios.

Leverage and Margin

XM offers a wide range of leverage options, from conservative 1:1 to high-risk 1000:1, giving traders the flexibility to adjust their strategies based on their risk tolerance and capital. It’s important to fully understand how leverage and margin work to trade effectively.

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Understanding Leverage

Leverage enables traders to control larger positions with a smaller amount of capital. For instance, with 100:1 leverage, a $1,000 deposit allows you to control a $100,000 position. While leverage amplifies potential profits, it also magnifies the risk of substantial losses.

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Margin Explained

Margin is the required deposit to open and maintain a leveraged position. For a trade with 100:1 leverage, a $100,000 position would need a $1,000 margin, serving as collateral against potential losses.

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Dynamic Leverage

For certain assets, such as cryptocurrencies, XM offers dynamic leverage. This adjusts based on market conditions and trading volume, helping to manage risk in highly volatile markets.

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Margin Calls and Stop-Outs

A margin call is triggered when your account equity falls below a specified level (usually 50% of the margin). If additional funds aren’t added, XM may close some or all positions (a stop-out) to prevent further losses.

Open Forex Account

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Frequently Asked Questions

What is leverage in trading?
Leverage allows traders to control larger positions with less capital. For example, 100:1 leverage allows a $1,000 deposit to control a $100,000 position.

How is the margin calculated at XM?
Margin is the deposit needed to open a position. With 100:1 leverage on a $100,000 trade, the required margin would be $1,000.

What is a margin call?
A margin call occurs when your account equity falls below 50% of the required margin, signaling the need for additional funds or the closure of positions.

How does dynamic leverage work?
For assets like cryptocurrencies, dynamic leverage adjusts based on market conditions and trading volume to help manage risk.

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Our Insights

XM offers flexible leverage options, from 1:1 to 1000:1, enabling traders to adjust positions to match their risk appetite. However, leverage amplifies both profits and losses, so it’s essential to understand margin, margin calls, and how to manage leverage responsibly to ensure successful trading.

Educational Resources

XM Live is an interactive platform designed to connect traders with financial professionals through live webinars, Q&A sessions, and real-time trading demonstrations. It features specialized segments like “Pip my Trades” to provide valuable insights into market trends and strategies.

The platform promotes in-depth discussions on equities and innovative market concepts, with a well-organized schedule for live education programs. XM Live also offers free live currency webinars in multiple languages, available seven days a week.

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Frequently Asked Questions

What is XM Live?
XM Live is an interactive platform that offers live webinars, Q&A sessions, and real-time trading displays, allowing traders to engage directly with financial market professionals.

How often are webinars held on XM Live?
Webinars are held daily, with sessions available seven days a week in various languages to accommodate a global audience.

What is “Pip my Trades”?
“Pip my Trades” is a unique segment within XM Live where traders can observe live trades and gain insights from market experts in real-time.

Can I participate in Q&A sessions on XM Live?
Yes, XM Live offers Q&A sessions where traders can interact with financial professionals, ask questions, and get answers to enhance their trading strategies.

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Our Insights

XM Live provides an invaluable resource for traders looking to improve their skills and gain market insights. With daily webinars, real-time trading segments like “Pip my Trades,” and interactive Q&A sessions, XM Live offers a comprehensive educational experience. Whether you’re a beginner or an experienced trader, XM Live is a powerful tool to enhance your trading knowledge and stay connected with market professionals.

Pros and Cons