4.3/5
2009
$5
XM REVIEW
Founded in 2009, XM is a well-regulated Forex broker serving nearly 10,000,000 clients from over 190 countries. It offers several types of accounts, each with its own set of trading features. Its extensive product range includes Forex, CFD Stocks, Indices, Commodities, and Precious Metals. XM is known for its excellent customer support in numerous languages.
| Founding Year |
 2009
|
|---|---|
| Regulated |
 Yes
|
| Rating |
4.3/5 |
| Minimum Deposit |
 $5
|
XM REVIEW
XM is regulated in 4 different jurisdictions. It holds licenses In Australia with the Australian Securities and Investment Commission (AIC), the Cyprus Securities and Exchange Commission (CySEC), the Dubai Financial Services Authority (DFSA), and the Financial Services Commission (FCS) Belize.
XM claims to keep the client’s funds in segregated accounts and provides negative balance protection.
| COUNTRY | AUTHORITY |
|---|---|
 Australia |
Australian Securities and Investments Commission (ASIC) |
Cyprus |
Cyprus Securities and Exchange Commission (CySEC) |
 Dubai |
Financial Services Authority (DFSA) |
 Belize |
Financial Services Commission |
XM REVIEW
XM offers its clients with four different account types:
Micro, Standard, and XM Ultra Low accounts have a minimum deposit of $5. The spread on Micro and Standard accounts starts from 1 pip. At the same time, the spread on Ultra Low accounts starts from 0.6 pips.
XM supports ten different base currencies except for the Shares Account, which is exclusively available in USD. The Shares Account requires a minimum deposit of $10,000 to open the account. It’s worth noting that the shares trading is done without leverage.
XM BROKER REVIEW
XM does not have a 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.
| PLATFORM | AVAILABILITY |
|---|---|
| Proprietary Platform |
 No
|
| MT4/MT5 (Windows/MAC) |
Yes
|
| Mobile Platform (Android/IOS) |
Yes
|
XM REVIEW
XM leverage is based on the total available equity in the account. For example, suppose the total equity is between $5 and $40,000. In that case, the leverage range is between 1:1 and 1:1000. For equity ranging from $40,001 to $80,000, the leverage ranges from 1:1 to 1:500. Moreover, accounts with equity between $80,001 and $200,000 can use the leverage from 1:1 up to 1:200. Finally, accounts with equity exceeding $200,001 can avail leverage only up to 1:100.
| PRODUCT | MAX LEVERAGE |
|---|---|
| Forex | 1:1000 |
| Cryptocurrencies | 1:500 |
| Indices | 1:500 |
XM REVIEW
XM offers 1000+ trading instruments spread across nine asset classes. These include Forex, CFD stocks, cryptocurrencies, indices, commodities, and precious metals. There are approximately 55 currency pairs, CFD stocks from more than 15 countries, and 31 cryptocurrencies. Furthermore, over 20 CFD indices are also available, including the US30 and UK100.
| PRODUCTS | AVAILABILITY |
|---|---|
| Multi Assets |
Yes
|
| Forex |
Yes
|
| Crypto |
Yes
|
| CFD Stocks |
Yes
|
| CFD Indices |
Yes
|
XM 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 commission rates are slightly on the higher side compared with its competitive.
| PRODUCT | SPREAD RANGE |
|---|---|
| Forex | 0.6 - 1.6 |
| Commodities | 0.3 - 2.5 |
| Indices | 1 - 2.0 |
XM 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.
| METHOD | AVAILABILITY |
|---|---|
| Credit/Debit Card |
Yes
|
| Wire Transfer |
Yes
|
| E-Wallets |
Yes
|
| Crypto |
No
|
XM REVIEW
XM 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 good for both 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 REVIEW
| Pros |
Cons |
|---|---|
| Multi Asset | High Commission |
| Multi Regulated | No Proprietary Platform |
| Comprehensive Education | No Tier-1 European Regulator |
| Low Minimum Deposit | |
| Copy Trading | |
| Low Spread | |
| 10 Base Currencies | |
| Flexible Leverage |
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