In this XM Broker Review, we will analyze its regulations, trading platforms, spread, and trading fees. We will also explore XM Group Pros and Cons along with its all other trading features.
XM BROKER REVIEW
XM Group is a well-established online Forex broker. Founded in 2009, XM is a well-regulated broker from 4 different authorities around the globe. It serves nearly 10,000,000 clients from over 190 countries. The broker offers excellent customer support in a variety of languages. Its team of support agents is available by phone and live chat. XM provides several types of accounts, each with its own set of trading features. Its product range is extensive and includes Forex, CFD Stocks, Indices, Commodities, and Precious Metals.
XM REGULATION REVIEW
XM Group is regulated in 3 different jurisdictions. It holds licenses In Australia with the Australian Securities and Investment Commission (AIC), Financial Services Commission (FCS) Belize, Dubai Financial Services Authority (DFSA), and the Cyprus Securities and Exchange Commission (CySEC).
XM keeps the clients’ funds in segregated accounts and provides negative balance protection.
|Australia||Australian Securities and Investments Commission (ASIC)|
|Cyprus||Cyprus Securities and Exchange Commission (CySEC)|
|Belize||Financial Services Commission|
XM ACCOUNT TYPES REVIEW
XM Group offers its clients with four different account types:
Additionally, XM supports 10 different base currencies for most accounts. However, the Shares Account is exclusively available in USD.
As the name suggests, the XM Shares Account is specifically designed for trading shares. It requires a minimum deposit of $10,000. XM charges a commission ranging from $1 to $9 based on the exchange. It’s worth noting XM does not offer leverage on the Shares Account.
XM TRADING PLATFORMS REVIEW
XM Group does not have its own proprietary trading platform, instead, it offers Meta4 and Meta5 trading platforms. Meta trading platforms offer the flexibility of trading hundreds of products with several options such as one-click trading. XM provides both platforms for Windows and MAC operating systems. XM also offers MT4 and MT5 web platforms and mobile applications for Android and IOS.
|Mobile Platform (Android/IOS)||Yes|
XM GROUP LEVERAGE REVIEW
XM offers different leverage options based on the total equity in your account. The leverage ratios are determined as follows:
XM offers dynamic margin for cryptocurrencies that can range from 1:1 to 1:500. These leverage levels provide traders with the flexibility to adjust their positions and manage risk according to their specific preferences.
XM GLOBAL PRODUCT REVIEW
XM offers more than 1000 products to trade across 9 asset classes. Its product range includes Forex, CFD stocks, cryptocurrencies, indices, commodities, shares, and precious metals. You can trade over 55 currency pairs, CFD stocks from over 15 countries and nearly 31 cryptocurrencies. In addition, you can also trade 20 CFD indices including US30 and Uk100.
XM GROUP SREAPD AND COMMISSION REVIEW
XM offers competitive spreads across its different account types. On Micro and Standard accounts, the EUR/USD spread is 1.6, while the Gold spread is 2.5. For even lower spreads, the XM Ultra Low Account is an attractive option where EUR/USD spread starts from just 0.6.
XM does not charge any commissions on Micro and Standard accounts. However, on XM Ultra Low Account, XM charges a commission of $3.5 per lot per trade
US shares are subject to a commission of $0.04 per share, with a minimum commission of $1 per transaction. UK shares incur a commission of 0.10% per transaction, with a minimum commission of $9 per transaction. Likewise, German shares carry a commission of 0.10% per transaction, with a minimum commission of $5 per transaction.
Overall, XM provides competitive spreads and transparent commission structures across its various account types.
|Forex||0.6 - 1.6|
|Commodities||0.3 - 2.5|
|Indices||1 - 2.0|
XM GROUP DEPOSIT AND WITHDRAWL REVIEW
XM Group offers clients a variety of deposit and withdrawal methods. It accepts wire transfers, credit/debit cards, and a range of e-wallet options such as Skrill, Neteller, Web Money, Sticpay, Maestro, Diners, UnionPay and XM cards. XM Group does not currently support cryptocurrency deposits. For most deposit and withdrawal transactions, there are no fees involved. However, a small fee may be applicable for wire transfers if the amount is below $200. Withdrawals typically take up to two working days to process.
XM GROUP REVIEW
XM Group is a reliable broker with a solid reputation spanning over a decade. It offers a wide range of trading services and access to various markets worldwide. Its educational resources are highly beneficial for new and experienced traders. While XM lacks a proprietary trading platform, its integration of MetaTrader effectively fills this gap. Moreover, XM does not accept crypto deposits and lacks a Tier 1 European regulator, but XM’s strengths lie in its diverse product offerings, competitive spreads, and low commissions which makes it an ideal choice for traders.
XM BROKER REVIEW
|Low Minimum Deposite||Yes|
|Huge List of Instruments||Yes|