XM

Our Expert findings show that XM is a reliable broker, suitable for all traders, including European clients. XM also offers excellent service which makes it suitable for beginners. XM has one of the lowest overall deposit requirements and quality education.

• XM Overall Ranking is 9/10 based on our testing and compared with 500 other brokers. See Our Ranking below compared with other industry leading brokers.

XM has a strong focus on Client’s needs and offers very competitive terms and a wide range of services that will attract global traders. We see great growth in the company over time. Previously, awards were given out occasionally, but now they are a regular occurrence. XM has been recognized for its outstanding results and reputation in the trading community with numerous industry awards, including Best Forex Broker for Europe and Most Trusted Broker.

XM isn’t a fraud. XM is considered a safe broker for trading Forex and CFDs because it is licensed and regulated by numerous top financial authorities, including ASIC, CySEC and FCA. It is therefore safe and low-risk to trade.

XM Group, a group of regulated online broker that serves as Trading Point of Financial Instruments Ltd. Established in 2009 and regulated under the Cyprus Securities and Exchange Commission (CySEC), Trading Point of Financial Instruments Ltd is a member of this group. Another entity Trading Point of Financial Instruments was established in 2015 in Australia and is regulated by Australian Securities and Investments Commission (ASIC). We see that the regulatory obligations are met at a sustainable level through our XM Review.

• The important thing to remember is that XM Global Limited, a global operation, was established in 2017. It is regulated by the Financial Services Commission. This allows it to offer its services around the world. Despite the fact that IFSC has an offshore license, it does not implement strict oversight of trading processes. However, the XM is heavily regulated making it an acceptable option.

The regulation’s main purpose is to ensure that traders can trade in safety, knowing that their clients funds are being used according to strict rules. XM maintains a safe trading environment by following the regulations.

Client funds are also kept in investment-grade banks and used segregated accounts. This falls under the Investor Compensation Fund that ensures the recovery of funds upto EUR20,000 in the event of a broker going insolvent. (Note: the coverage scheme varies depending on the entity). A trader will also enjoy Negative Balance Protection which means that there is no chance of losing more than the balance.

Read our conclusion on XM reliability:

• We have a 9 out of 10 Trust Score. This is due to the good reputation, excellent service and reliable top-tier licenses that Broker holds. Only one point: International trading is available through the offshore entity.

Depending on which account type you have and whether the XM is subject to regulatory obligations, leverage can be used on a scale of 1:1 up to 888:1. To determine the leverage level that you can use, refer to your residency conditions. Different XM entities have different regulations, so make sure to check them:

• XM provides leverage up to 30%. This Leverage is applicable to EU-regulated entities. European clients of Trading Point Cyprus can express a ratio up to 1:5 for Cryptocurrencies, and even a maximum value of 1:2 for certain products

• XM Australian entity, and its regulation allow 500:1

• International entity offers high leverage 888:1

You should choose your leverage wisely. Also, make sure you are choosing the right entity to trade under.

XM offers a variety of account types. This makes it easy to choose your preferred trading style. You can trade small amounts via Micro Lots or larger quantities with Standard accounts that are spread-only. Zero Accounts will offer you another fee strategy. The spread is an interbank quote that starts at 0 pip and the trading cost will be deducted via a commission per lot.

See our snapshot below:

XM has a wide range of products, so you will find something that suits your needs and preferences. We also see a dramatic increase in our instrument offering, with more Cryptocurrencies added to the list.

You can trade on a variety of markets from one multi-asset account. It offers six Asses Classes, 55 currency pairs and more than 1000+ trading markets. You can trade Forex and CFDs on stocks indices, commodities as well as stocks, metals, energy, energies, and Cryptocurrencies at the same time with one trading account.

XM also offers stocks for trading, a good selection with popular and minor stocks too. However, XM is primarily based on CFDs so you are not trading in Real Stocks. Research also revealed that conditions and offerings may differ depending on XM entity.

• XM Markets Range Score is 8 of 0f 10 for good trading instrument selection. However, the only gap is that European entities only offer CFDs and Forex Instruments. International clients have a much larger range.

XM uses variable spreads just like the interbank forex markets and does not place restrictions on trading during news releases. Fixed spreads are generally higher than variable ones and are more adaptable to different trading strategies. This means that all trading costs are included in a spread, with no hidden fees or tightest spread offer.

It is also a good idea to compare fees below, based on our findings, when choosing a broker.

• XM Fees have an average rating of 8 out 10, based on our testing. This is compared to over 500 brokers. Fees may vary depending on the entity. However, most currency pairs have an average spread and additional fees such as funding fees and rollover fees.

In the event that you open a Micro or Standard account, XM pricing is based on a spread. XM spreadis a fractional price that allows you to get the best prices from XM’s liquidity providers. You can get the lowest price movements instead of 4-digit quoting prices by adding a fifth digit (also known as a fraction).

Below is the average spread reference for most popular products. It was calculated on a Standard account. Although spreads may be higher than those of its industry peers, overall fees are relatively low for Forex products and very affordable for CFDs.

• XM Spreads are rated average/low with an overall rating of 8 out 10, based on our comparison to other brokers. Forex spread was closer to the industry average at 1.2 pips per EURUSD. Other accounts that are based on commission may be a better choice for professional traders.

XM manages funds transactions in a customer-oriented manner. Traders have the option of several payment methods in all countries. XM offers a variety of payment options, including the most common, and also a local bank transfer option. This is a great feature for many countries as it allows you to fund your account using local currency and banks without any conversion fees.

• XM Funding methods were rated Excellent with an overall rating of 10/10. The minimum deposit is the lowest in the industry. Fees are also very low or negligible. The range of supported funding options is excellent, but it all depends on who you trade with.

XM Minimum Deposit amount: 5$ for Micro Accounts or Standard Accounts. In case you want to trade with Zero account, a 100$ minimum deposit is required. The amount will vary depending on the payment method used and the status of your trading account. You can still access the Members Area to read all information.

XM clients have access to trades and transactions through the well-known, highly-developed trading platforms MetaTrader4 & MetaTrader5 as well as its own trading platform.

XM is a mainstay on the most used industry platforms MT4 and MT5 . This is obviously to traders’ advantage as these platforms are well-known and offer many extensions and comprehensive education about how to use the tools. The platforms that have gained high ratings because of their international recognition are always a benefit to brokers’ proposals.

• XM platform are rated Excellent with an overall rating of 10 compared to more than 500 other brokers. It is excellent because XM allows you to choose between popular platforms such as MT4 or MT5, and also has its own platform that offers excellent research, excellent tools and copy trading, robot trading, EAs, and quality execution.

Accessible directly from one account, all platforms can be integrated with a complete site of technical analysis and indicators, comprehensive tools, stop and trailing orders, and comprehensive tools. XM Trading is accessible via the browser. Log in to Web Trading and you can access it. Please see our review and evaluation of the Pros and Con of XM Web Platform.

XM has made the software more accessible through 16 trading platforms. These platforms cater to any device , including mobile.

XM can use MT4 or the newer MT5 to access its powerful capabilities and automated trading. EAs can be used with unlimited charts, but great manual trading tools are also available. All trading requirements are met and the EAs are very durable. They may be a good match for different types of traders.

MetaTrader is well-known for its intuitive and clean interface. Its Charting feature is also one of the best in the industry. We love MetaTrader’s look and the functions it offers.

You can use your mobile to trade, XM MT4 Android, iOS, and XM MT5 Android apps will allow you to access a trading account that offers full functionality. MT4 and MT5 app offer excellent charting, with three Chart Types and over 30 technical indicators. They also have a complete trading history journal.

Placement of orders is easy with MT4 and MT5 which allow one-click trading. You can choose from pending or market orders, which are both available on all platforms. You should not ignore risk tools and follow your strategy. To place an order, you need to follow these steps:

1. Market Watch allows you to select the product that you want to trade

2. Right-click on the symbol “New Order”.

3. Choose from Market Order or Pending Order depending on the “Type”

4. You can set the risk, reward, and expectation levels by setting Volume, Stop Loss, Profit.

5. Choose a Place

6. After your order is placed, you can cancel or modify it at any time. You can also close it manually once it has been closed.

We also found many XM’s Add-Ones that allow you to take advantage of additional benefits offered by the platform. These include XM VPS, Rapid Trade Execution, and remote connection to a Virtual Private Server (VPS). The XM VPS provides non-stop work, without you having to monitor it or turn the computer on. Clients who maintain a minimum of $5,000, or an equivalent, can request a free VPS. Those that don’t meet this requirement can still request a tool at a monthly price of $28.

We see that XM worldwide covers trading needs, while the customer service team is available in international locations, can speak more than 25 languages, including Chinese, Hindi, Arabic and Tagalog.

The customer support team is available 24/5. You can reach the broker via email, phone, and live chat. We found the service to be of high quality and reliable, which is a confirmation of XM’s client-oriented policies.

• Based on our testing, Customer Service in XM has been rated Good with an overall rating of 8 out 10. Live Chat is quick and helpful. It’s also easy to reach them during working hours.

Every client has access to numerous educational materialsthrough XM Learning Center. These include trading data, as well as other information, that will help you trade better. XM has also developed a wide range of education support across different regions to help traders. This is a huge plus for all traders.

XM can offer quality learning. This is based on the results of our tests. You also have access to a wealth of videos, tutorials and other tools.

• XM Education ranked overall with a rating of 10 out 10 based on our research. XM offers great education materials, high quality research, and runs its Academy complete with webinars, excellent trading videos, and other services.

It is also available at XM in terms of Market materials and research tools. XM offers News Feed Technical Summaries, Technical Analysis, and Fundamental Analysis. This is suitable for advanced or beginning traders.

We love the way XM organizes their research tools. You will find everything you need to make smarter trading decisions, including Forex Calculators and MQL5, exclusive technical indicator compatible with both platforms are also available to subscribers, making it possible for algorithmic trading.