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XM is a next-generation investment firm that enables investors from 196 countries worldwide to trade forex, precious metals, stock indices, and energies. It complies with its regulators’ legal and operational frameworks, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). The company is also registered with the New Zealand FSP, the UK’s FCA, and many other European regulatory bodies.
Read detailed XM Review.
Since its founding in 2009, XM has been committed to providing fair and transparent trading conditions for all clients, irrespective of their capital worth. Traders enjoy the best execution available anywhere, bolstered by a strict no requotes and no rejections policy.
Trading Accounts and Platforms
Opening an XM Real Account is a secure and convenient process, requiring just a few minutes to complete the online application form available in various languages. During the account opening process, clients can specify their base currency from these options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR. Flexible leverage is also offered and ranges from 1:1 to 888:1.
Tight spreads are offered on over 60 financial instruments. The same spreads are offered regardless of the trading account type in use. Fractional pip pricing is also available to ensure that XM clients can trade with even tighter spreads and benefit from the most accurate pricing possible.
Clients have various platform choices available to trade on their preferred devices. These include MT4 for PC and MAC and various mobile apps compatible with the most popular smartphones and tablets.
XM Group Review (4.5/5 Stars Overall)
Basic Information
- Minimum Deposit: $5
- Trust Score: 88
- Tradeable Symbols (Total): 1429
- Year Founded: 2009
- Regulatory Status:
- Tier-1 Licenses: 4
- Tier-2 Licenses: 1
- Tier-3 Licenses: 0
- Tier-4 Licenses: 1
Pros
- Offers a wide range of CFDs, including 55 forex pairs.
- Provides Trading Central tools and in-house research.
- Requires a $10,000 deposit for the XM Shares account for exchange-traded securities.
- High-quality research content with daily videos, podcasts, and articles.
- TV-quality video content and live recordings are available.
- Extensive educational resources, including webinars, articles, and Tradepedia courses.
- The full MetaTrader suite is available with copy trading and the Analyzer algorithm.
- Guaranteed fills for market, stop-loss, and limit orders up to 50 lots.
- Over 10 million clients serviced, executing more than 2.4 billion trades since 2009.
Cons
- Standard account spreads higher than industry leaders.
- There are no published average spreads for the commission-based XM Zero account.
- Lacks proprietary trading platforms, offering only MetaTrader.
Overall Ratings
- The offering of Investments: 4/5 Stars
- Commissions & Fees: 4/5 Stars
- Platform & Tools: 4/5 Stars
- Research: 5/5 Stars
- Mobile Trading: 4/5 Stars
- Education: 4.5/5 Stars
Safety and Trustworthiness
- Considered trusted with a high Trust Score.
- It is not publicly traded and doesn’t operate a bank.
- Four Tier-1 regulators authorize me.
- It is regulated in the EU via the MiFID passporting system.
Platforms and Tools
- MetaTrader 5 mobile app features trading charts, contract specifications, and an economic calendar.
- Desktop trading platform with order window and watchlist.
- Global research tools, including web sentiment data and trading signals analyzer.
Research and Education
- Comprehensive economic calendars, market news, and analysis articles.
- Podcasts and educational videos are available.
- XM TV videos for enhanced learning.
Review Methodology
- Extensive data collection and expert opinions.
- Detailed testing of features, platforms, and services.
- Evaluation of commissions, fees, and spreads.
- Focus on mobile trading, market research, and educational content.
- Ratings and opinions are independent and based on extensive research.
This review encapsulates a broad overview of XM Group’s offerings, highlighting its strengths and areas where it lags behind industry leaders. The emphasis on research and education is notable, as is the comprehensive MetaTrader suite offering. However, the higher spreads and lack of proprietary platforms are potential downsides for some traders.
Account Funding and XM Cards
As an investment firm, XM believes in transferring to and from trading accounts as straightforward as possible. This is why account funding is 100% automatic, and all deposits are processed instantly 24 hours a day, seven days a week.
To protect client funds from being used for other purposes, all client funds are kept in segregated accounts with only tier-1 banking institutions.
Using an XM Card, which we offer, can give you even greater access to your trading account funds most conveniently and directly. There are three card types available: XM USD MasterCard, XM EUR MasterCard, and XM USD Shanghai (China UnionPay), and each card is directly connected to an MT4 account. Popular uses for XM Cards include withdrawing cash from ATMs and purchasing at stores or online.
Free Education
XM wants its clients to make informed trading decisions and to have the skills and knowledge to realize their trading potential. A wide range of educational material is available for XM clients to be fully forex trained, including free weekly interactive webinars, bespoke MT4 video tutorials, and regular seminars in different locations worldwide.
Loyalty Program
XM operates a comprehensive loyalty program designed to provide unlimited rewards for clients based on their loyalty status and how active they are as traders. On every lot traded, several XM Points (XMP) are awarded. These points can be accumulated and redeemed at any time and are desired for trading bonuses and even real cash rewards. The more that is traded, the more earned, the more rewards will be received; it is that simple.
Customer Support
Customer support is provided 24/5 (including now weekends) via telephone, email, and live chat. Our expert team speaks over 20 languages and is always happy to assist. In addition, each client is assigned a dedicated account manager when they open their account; this provides a more personal level of support and builds a long-term relationship based on trust and respect.
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs