- No cryptocurrencies
- Support is not 24/7
XM, an award-winning broker, serves over five million clients across 192 countries, offering a wide selection of more than 1,000 tradable instruments. Our XM broker review confirms its suitability for traders at all levels, including beginners and those looking to enhance their trading skills.
With a global presence and extensive client base, XM has established trust and credibility in the industry. Traders can access a diverse range of assets such as currencies, stocks, commodities, and specialized instruments, enabling them to diversify their portfolios and seize opportunities across various financial markets.
XM’s comprehensive support extends to both beginners and experienced traders. Novice traders benefit from educational resources, tutorials, webinars, and market analysis, providing guidance for informed decision-making. Experienced traders, on the other hand, can leverage advanced trading platforms, robust charting tools, and cutting-edge technologies to refine their strategies and explore new avenues for success.
XM Features
| Feature | XM |
| Minimum deposit: | $5 |
| Withdrawal fee amount: | None |
| Inactivity fee charged (Y/N): | Y |
| Max leverage: | 30:1 |
| Spread from: | 0.0 pips |
| Number of instruments: | 1,000+ |
| Year founded: | 2009 |
| Time to open account: | 1 business day |
| Demo account provided (Y/N): | Y |
| Countries of regulation: | Cyprus, UK |
| Products offered: | Forex, CFDs, Stocks, Commodities, Energies, Precious Metals, Equity Indices |
Who are XM?
Founded in 2009, XM forex broker offers a trustworthy trading platform and fast execution, with 99.35% of all trading orders executed in less than one second, with no re-quotes and no rejections. XM has offices in Cyprus, Australia and Greece, and offers more than 25 secure payment methods along with 16 trading platforms. More than 30 languages are supported, making this a truly international broker. The broker has won a number of industry awards, and not just in Europe. XM has been recognised, for example, at the Smart Vision Investment Expo in Egypt, and the Dubai Expo Awards. Traders all over the world can consider investing with this broker, though they should, of course, make sure that it provides the specific markets they want to trade.
XM Fees
Trading fees
XM trading fees are reasonable and transparent with no hidden costs and tight spreads on most instruments. The broker offers variable spreads and fractional pip pricing, ensuring the best prices from its liquidity providers and allowing clients to benefit from the smallest of price movements.
Forex fees
Forex spreads start from 0.0 pips, with the average spread for EURGBP being 0.0002 and for USDJPY 0.016. Regular traders will note that these spreads are tighter than at many of the broker’s competitors. As is always the case, however, a lot will depend on the type of account you open. These spreads are offered on the popular XM Zero account, which does charge a small commission, and will, of course, only be available when trading major currency pairs. The Micro and Standard accounts are commission-free, and spreads start at 1 pip on the major pairs with both of these accounts.
XM CFD fees
XM offers reasonable fees on a range of assets that can be traded as CFDs, including stocks, commodities, energies, precious metals and equity indices. Spreads are as low as 0.1 on stock CFDs, 0.003 on commodities CFDs, and 0.3 on cash indices.
XM inactivity fees
The XM inactivity fee is known as a ‘dormant fee’ and is imposed on accounts that are inactive for 90 days, as long as they have free balance in the account. XM offers negative balance protection, so will not charge you more money than you have available in your trading account. This also applies when trading, so whenever your XM account balance goes negative due to unexpectedly volatile movement in the market, your account will automatically be reset to zero.
XM rollover fees
XM debits or credits clients’ accounts with rollover fees when a trade is kept open overnight. Although there is no rollover on Saturdays and Sundays when the markets are closed, banks still calculate interest on any position held over the weekend. To level this time gap, XM applies a three-day rollover strategy on Wednesdays. Swap-free accounts are available on request for Islamic customers who cannot trade swaps due to religious beliefs. XM is committed to keeping its pricing low and transparent and offers negative balance protection to avoid accounts going into the red.
Account types
XM offers two commission-free accounts – the Micro account and the Standard account, where all trading fees come from the spreads – along with the XM Zero account, which has a small commission fee and spreads as low as 0 pips. The lot restriction is 100 lots on the Micro account and 50 lots on the Standard and Zero accounts. There is a minimum deposit of just $5 on all accounts, making this broker highly suitable for new or hobby traders on a small budget.
How to open your broker account
Account opening is simple, and there is a demo account available. Initial registration takes around two minutes. You will simply need to fill in your details and select the type of account you want, along with your preferred trading platform. As always, we recommend that you consider a demo account if you are brand new to the platform, and even more so if you are new to forex trading in general. A demo account can be an excellent way to find your way around and practice trading risk-free.
Trading Platforms
XM offers two trading platforms that could be considered the most popular on a worldwide scale. These platforms are MetaTrader 4 and MetaTrader 5, which are all available as desktop and mobile trading platforms, allowing the trader high flexibility of available devices he can operate from.
MetaTrader 4
MetaTrader 4 stands as an advanced trading platform that has established itself as a standard tool for experienced Forex traders, facilitating trade execution even in the absence of an active device. It is characterized by its intuitive user interface, an extensive array of technical analysis tools for prognosticating market trends, live updates on currency prices, and a host of additional features. Noteworthy components of MetaTrader 4 encompass mobile trading capabilities, access to trading signals, and comprehensive financial market insights, all of which serve to elevate and enrich the overall Forex trading encounter. Furthermore, it provides support to traders in more than 30 languages globally, along with three distinct trade execution modes, instant execution, execution on request, and execution on the market.
MetaTrader 5
MetaTrader 5 stands as a robust automated trading platform, providing sophisticated tools for meticulous trading analysis and execution in the realm of financial markets. Beyond its ability in Forex trading, the MetaTrader 5 platform extends its capabilities to trade Stocks, CFDs, and Futures. It boasts a diverse array of order types and execution modes, affording traders the capacity to implement tailored trading strategies even in offline settings. With the capability to simultaneously open up to 100 charts and access 21 distinct timeframes, the platform empowers users to conduct in-depth analysis of price movements, even based on minutes. Additionally, it offers a comprehensive suite of 80 technical indicators and 44 analytical objects, allowing you to enhance your trading experience.
Safety
XM is a broker that was founded back in 2009 while also being regulated by several financial authorities worldwide. These include the following four:
CySEC – Cyprus Securities and Exchange Commission
ASIC – Australian Securities and Investments Commission
DFSA – Dubai Financial Services Authority
IFSC – Financial Services Commission of Belize
XM provides the flexibility to open a trading account with one or more of their authorized entities based on your country of residence. This is a crucial consideration for those looking to set up an account with XM, as the extent of investor protection and regulatory supervision differs based on the particular entity you are associated with.
Customer Support
XM ensures that its clients can rely on top-notch customer support through phone, email, and live chat channels. These support options are available around the clock, guaranteeing assistance regardless of your location. Whether you prefer direct phone conversations, email communication, or real-time live chat support, XM is dedicated to providing excellent customer support that aligns with your personal preferences.
Live Chat Support
XM provides outstanding live chat assistance, connecting you with a live agent who will provide you with the information you seek or assist you in resolving any type of issues that you might be facing.
Email Support
XM sets itself apart by offering exceptional email support, guaranteeing that clients receive comprehensive responses within a maximum of one day from the time of contact.
Phone Support
Finally, it’s worth noting that XM’s phone support is equally remarkable. Clients can rest assured that they will receive prompt responses to their inquiries. This commitment to rapid and effective communication underscores XM’s dedication to providing top-tier assistance to its clients.
Education
XM provides its clients with various unique educational resources. These include a demo account and numerous educational sections, such as XM live, live education with a schedule, various educational videos, forex and CFD webinars, and platform tutorials.
XM Live
XM Live’s educational section provides you with content to deepen your understanding of their platform. Learn from knowledgeable hosts and gain valuable insights into the world of XM. You can tune into daily special shows, catch live interviews with industry experts, and stay updated with their informative schedules.
Live Education & Schedule
XM’s Live Education provides an interactive and immersive learning experience for traders of all experience levels. Join their expert hosts as they cover a wide range of topics, from market analysis to trading strategies. Engage in live discussions, ask questions, and stay updated with the latest market trends.
Educational Videos
XM’s Educational Videos section is a valuable source of insights and practical knowledge for traders, no matter their experience levels. Dive into a diverse range of topics, from fundamental analysis to advanced trading strategies, presented by industry experts. These engaging videos provide a clear and concise way to enhance your trading skills.
Forex & CFD Webinars
XM’s Forex and CFD Webinars section offers a dynamic platform for traders to expand their knowledge and skills. Led by seasoned experts, these webinars cover a spectrum of topics, from market analysis to effective trading strategies. Engage in live discussions, and gain valuable insights to make informed trading decisions while working within the financial markets.
Platform Tutorials
XM’s Platform Tutorials section is an excellent resource for mastering their trading platforms. These user-friendly tutorials guide you through every aspect of XM’s platforms, ensuring you can navigate and utilize them effectively.
- Great choice of trading platforms
- 1,000+ instruments
- Low minimum deposit
- No cryptocurrencies
- Support is not 24/7
XM, an award-winning broker, serves over five million clients across 192 countries, offering a wide selection of more than 1,000 tradable instruments. Our XM broker review confirms its suitability for traders at all levels, including beginners and those looking to enhance their trading skills.
With a global presence and extensive client base, XM has established trust and credibility in the industry. Traders can access a diverse range of assets such as currencies, stocks, commodities, and specialized instruments, enabling them to diversify their portfolios and seize opportunities across various financial markets.
XM’s comprehensive support extends to both beginners and experienced traders. Novice traders benefit from educational resources, tutorials, webinars, and market analysis, providing guidance for informed decision-making. Experienced traders, on the other hand, can leverage advanced trading platforms, robust charting tools, and cutting-edge technologies to refine their strategies and explore new avenues for success.
XM Features
| Feature | XM |
| Minimum deposit: | $5 |
| Withdrawal fee amount: | None |
| Inactivity fee charged (Y/N): | Y |
| Max leverage: | 30:1 |
| Spread from: | 0.0 pips |
| Number of instruments: | 1,000+ |
| Year founded: | 2009 |
| Time to open account: | 1 business day |
| Demo account provided (Y/N): | Y |
| Countries of regulation: | Cyprus, UK |
| Products offered: | Forex, CFDs, Stocks, Commodities, Energies, Precious Metals, Equity Indices |
Who are XM?
Founded in 2009, XM forex broker offers a trustworthy trading platform and fast execution, with 99.35% of all trading orders executed in less than one second, with no re-quotes and no rejections. XM has offices in Cyprus, Australia and Greece, and offers more than 25 secure payment methods along with 16 trading platforms. More than 30 languages are supported, making this a truly international broker. The broker has won a number of industry awards, and not just in Europe. XM has been recognised, for example, at the Smart Vision Investment Expo in Egypt, and the Dubai Expo Awards. Traders all over the world can consider investing with this broker, though they should, of course, make sure that it provides the specific markets they want to trade.
XM Fees
Trading fees
XM trading fees are reasonable and transparent with no hidden costs and tight spreads on most instruments. The broker offers variable spreads and fractional pip pricing, ensuring the best prices from its liquidity providers and allowing clients to benefit from the smallest of price movements.
Forex fees
Forex spreads start from 0.0 pips, with the average spread for EURGBP being 0.0002 and for USDJPY 0.016. Regular traders will note that these spreads are tighter than at many of the broker’s competitors. As is always the case, however, a lot will depend on the type of account you open. These spreads are offered on the popular XM Zero account, which does charge a small commission, and will, of course, only be available when trading major currency pairs. The Micro and Standard accounts are commission-free, and spreads start at 1 pip on the major pairs with both of these accounts.
XM CFD fees
XM offers reasonable fees on a range of assets that can be traded as CFDs, including stocks, commodities, energies, precious metals and equity indices. Spreads are as low as 0.1 on stock CFDs, 0.003 on commodities CFDs, and 0.3 on cash indices.
XM inactivity fees
The XM inactivity fee is known as a ‘dormant fee’ and is imposed on accounts that are inactive for 90 days, as long as they have free balance in the account. XM offers negative balance protection, so will not charge you more money than you have available in your trading account. This also applies when trading, so whenever your XM account balance goes negative due to unexpectedly volatile movement in the market, your account will automatically be reset to zero.
XM rollover fees
XM debits or credits clients’ accounts with rollover fees when a trade is kept open overnight. Although there is no rollover on Saturdays and Sundays when the markets are closed, banks still calculate interest on any position held over the weekend. To level this time gap, XM applies a three-day rollover strategy on Wednesdays. Swap-free accounts are available on request for Islamic customers who cannot trade swaps due to religious beliefs. XM is committed to keeping its pricing low and transparent and offers negative balance protection to avoid accounts going into the red.
Account types
XM offers two commission-free accounts – the Micro account and the Standard account, where all trading fees come from the spreads – along with the XM Zero account, which has a small commission fee and spreads as low as 0 pips. The lot restriction is 100 lots on the Micro account and 50 lots on the Standard and Zero accounts. There is a minimum deposit of just $5 on all accounts, making this broker highly suitable for new or hobby traders on a small budget.
How to open your broker account
Account opening is simple, and there is a demo account available. Initial registration takes around two minutes. You will simply need to fill in your details and select the type of account you want, along with your preferred trading platform. As always, we recommend that you consider a demo account if you are brand new to the platform, and even more so if you are new to forex trading in general. A demo account can be an excellent way to find your way around and practice trading risk-free.
Trading Platforms
XM offers two trading platforms that could be considered the most popular on a worldwide scale. These platforms are MetaTrader 4 and MetaTrader 5, which are all available as desktop and mobile trading platforms, allowing the trader high flexibility of available devices he can operate from.
MetaTrader 4
MetaTrader 4 stands as an advanced trading platform that has established itself as a standard tool for experienced Forex traders, facilitating trade execution even in the absence of an active device. It is characterized by its intuitive user interface, an extensive array of technical analysis tools for prognosticating market trends, live updates on currency prices, and a host of additional features. Noteworthy components of MetaTrader 4 encompass mobile trading capabilities, access to trading signals, and comprehensive financial market insights, all of which serve to elevate and enrich the overall Forex trading encounter. Furthermore, it provides support to traders in more than 30 languages globally, along with three distinct trade execution modes, instant execution, execution on request, and execution on the market.
MetaTrader 5
MetaTrader 5 stands as a robust automated trading platform, providing sophisticated tools for meticulous trading analysis and execution in the realm of financial markets. Beyond its ability in Forex trading, the MetaTrader 5 platform extends its capabilities to trade Stocks, CFDs, and Futures. It boasts a diverse array of order types and execution modes, affording traders the capacity to implement tailored trading strategies even in offline settings. With the capability to simultaneously open up to 100 charts and access 21 distinct timeframes, the platform empowers users to conduct in-depth analysis of price movements, even based on minutes. Additionally, it offers a comprehensive suite of 80 technical indicators and 44 analytical objects, allowing you to enhance your trading experience.
Safety
XM is a broker that was founded back in 2009 while also being regulated by several financial authorities worldwide. These include the following four:
CySEC – Cyprus Securities and Exchange Commission
ASIC – Australian Securities and Investments Commission
DFSA – Dubai Financial Services Authority
IFSC – Financial Services Commission of Belize
XM provides the flexibility to open a trading account with one or more of their authorized entities based on your country of residence. This is a crucial consideration for those looking to set up an account with XM, as the extent of investor protection and regulatory supervision differs based on the particular entity you are associated with.
Customer Support
XM ensures that its clients can rely on top-notch customer support through phone, email, and live chat channels. These support options are available around the clock, guaranteeing assistance regardless of your location. Whether you prefer direct phone conversations, email communication, or real-time live chat support, XM is dedicated to providing excellent customer support that aligns with your personal preferences.
Live Chat Support
XM provides outstanding live chat assistance, connecting you with a live agent who will provide you with the information you seek or assist you in resolving any type of issues that you might be facing.
Email Support
XM sets itself apart by offering exceptional email support, guaranteeing that clients receive comprehensive responses within a maximum of one day from the time of contact.
Phone Support
Finally, it’s worth noting that XM’s phone support is equally remarkable. Clients can rest assured that they will receive prompt responses to their inquiries. This commitment to rapid and effective communication underscores XM’s dedication to providing top-tier assistance to its clients.
Education
XM provides its clients with various unique educational resources. These include a demo account and numerous educational sections, such as XM live, live education with a schedule, various educational videos, forex and CFD webinars, and platform tutorials.
XM Live
XM Live’s educational section provides you with content to deepen your understanding of their platform. Learn from knowledgeable hosts and gain valuable insights into the world of XM. You can tune into daily special shows, catch live interviews with industry experts, and stay updated with their informative schedules.
Live Education & Schedule
XM’s Live Education provides an interactive and immersive learning experience for traders of all experience levels. Join their expert hosts as they cover a wide range of topics, from market analysis to trading strategies. Engage in live discussions, ask questions, and stay updated with the latest market trends.
Educational Videos
XM’s Educational Videos section is a valuable source of insights and practical knowledge for traders, no matter their experience levels. Dive into a diverse range of topics, from fundamental analysis to advanced trading strategies, presented by industry experts. These engaging videos provide a clear and concise way to enhance your trading skills.
Forex & CFD Webinars
XM’s Forex and CFD Webinars section offers a dynamic platform for traders to expand their knowledge and skills. Led by seasoned experts, these webinars cover a spectrum of topics, from market analysis to effective trading strategies. Engage in live discussions, and gain valuable insights to make informed trading decisions while working within the financial markets.
Platform Tutorials
XM’s Platform Tutorials section is an excellent resource for mastering their trading platforms. These user-friendly tutorials guide you through every aspect of XM’s platforms, ensuring you can navigate and utilize them effectively.
