XM

Details

Broker XM
Website URL https://www.xm.com
Founded 2009
Headquarters Belize
Support Number +501 223-6696
Support Types Online Chat , email , Telephone
Languages Malay , 简体中文 , 繁体中文 , Ελληνικά , Magyar , Русский , Indonesia , Français , Italiano , Svenska , Deutsch , Polski , العربية , Español , 한국어 , Português , Tiếng Việt , ภาษาไทย , Filipino , Dutch , Česky , বাংলা
Trading Platform Mt4 e Mt5
Minimum 1st Deposit 5 USD
Minimum Account Size 5 USD
Minimum Trade Amount 1 USD
Bonus 50% Deposit Bonus up to 500 USD
Payout 67-92
Leverage Max 1:888
Free Demo Account Open Demo
Regulated Yes
Account Types Micro , Standard , XM Zero
Deposit Methods Credit / Debit Card , Neteller , Skrill , Bank transfer
Withdrawal Methods Visa , Visa Electron , Master Card , Conductor , Union Pay , Neteller , Skrill , BitCoin , Bank transfer
Account Currency USD , EUR , GBP , JPY , CHF , AUD , HUF , PLN , RUB , SGD , ZAR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score

Pros

  • Regulated in the United Kingdom, Cyprus (EU) and Australia
  • Competitive prices on the XM Zero account
  • Added MT5 Web
  • Offers many international live seminars

Cons

  • Only individual stock CFDs available on MT5
  • Higher spreads in Micro and Standard accounts

Presented as the next generation broker for online forex and commodity trading, XM Global Webtrade is suitable for both novice and experienced traders. Traders can start with the live trading software account or test the waters with a $ 100,000 USD virtual currency demo account platform. The highlights of this particular brokerage service include automatic trading, with no hidden fees or commissions and fast order execution, with 99.35% occurring in less than 1 second.

XM Company Details

XM Group (XM) is a group of regulated online brokers. The Trading Point for Financial Instruments was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10).

Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670).

XM Global was established in 2017 and is regulated by the International Financial Services Commission (IFSC / 60/354 / TS / 19).

The platform has more than 1.5 million customers with traders in 196 countries. The XM ethos is all about being big, fair and human. The company prides itself on such things as excellent customer service and a personalized approach to each customer, regardless of their investment objectives.

XM Trading Platform

XM offers 2 trading platforms accessible from both live and demo accounts. The multi-award winning MetaTrader 4 is predominantly a forex trading platform that supports stop, limit, market and trailing orders.

The MetaTrader 5 platform is a multi-asset trading platform that also provides access to stocks, stock indices and precious metals. Both platforms are available on Apple and Android devices, which contributes to an easy and easy to use mobile trading experience.

The trading area offers optional additional tools, such as economic calendar or trading volume statistics.

XM Assets / Markets

This broker has more than 1000 financial instruments that can be traded on MT4 / MT5 platforms and that includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.

Forex trading is available in more than 55 pairs, including major USD, GBP, EUR and JPY pairs.

XM Spreads and Commission

Spreads vary depending on the type of account opened. It is possible to open a Micro account, Standard Account and XM Zero Account. The minimum spread across all accounts is 0.1 pips, and the average spread for an important pair, such as EUR / USD, is 0.1 pips.

XM follows a strict “no hidden fee or commission” policy. As such, the commission is given only to XM Zero accounts. XM covers all transfer fees and same day withdrawals are guaranteed.

XM Leverage

Depending on the instrument, leverage can range from 2: 1 to 30: 1. This is completely flexible and XM offers its customers the chance to manage their own leverage risk. Margin requirements remain constant throughout the week and never increase on weekends or evenings.

This leverage applies to customers registered under the group’s EU regulated entity.

XM Mobile Apps

XM is available on several Android and Apple devices, including Apple iPhone, Apple iPad and Android tablets and Android phones. Login is super easy and can be done by fingerprint. You can download your apps from the Apple App Store or the Google Play Store.

Both are fully functional and allow monitoring and trading on the go. Desktop PC and Mac platforms support one-click trading.

XM Payment Methods

According to conventional KYC regulations, users are required to provide a color copy of an official identification document, such as a passport or driver’s license. They also need to provide a recent utility bill dated in the past three months as proof of address.

Once registered, the minimum deposit amount is $ 5 for Micro and Standard accounts, while Zero accounts require a minimum deposit of $ 100.

Deposits can be made using most major credit cards, electronic payment methods, wire transfers, local bank transfers and more.

Deposits can be made in any currency and will be automatically converted to the currency you select as the base currency when opening the account.

All withdrawals are processed within 24 hours and there are no fees to withdraw money from your electronic wallet.

XM Demo Account

XM stands out in its demo account offering. Users can set up a demo account with just a few details and then start trading with a virtual balance of $ 100,000. The XM demo account is the only one that offers exactly the same trading conditions as the real account.

There are no time limits for using your demo account.

XM Bonus Offers and Promotions

XM also offers a free VPS (virtual private server) service to help increase the speed of negotiations. This VPS is accessible from anywhere and available 24 hours a day, 7 days a week. They claim to eliminate downtime and are available worldwide.

XM also offers withdrawals and deposits with no commissions and fees.

As an EU-regulated brand, XM complies with ESMA’s ban on bonuses, and the $ 30 deposit bonus is no longer available to EU merchants.

XM Regulation and Licensing

As noted above, the XM Group has a variety of brands covered by different regulators.

XM Group (XM) is a group of regulated online brokers. The Trading Point for Financial Instruments was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10).

Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670).

XM Global was established in 2017 and is regulated by the International Financial Services Commission (IFSC / 60/354 / TS / 19).

XM Additional Features

One of the biggest advantages available on the XM platform is the wealth of training and educational materials available. The platform hosts regular webinars for novices and experienced professionals. The platform is inherently social, encouraging users to learn from their team of instructors. The company also published research and technical analysis.

XM Account Types

There are four levels of trading account, Micro, Standard and Zero. All accounts allow for up to 200 open / pending positions per customer.

  • Micro Accounts : Micro accounts can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as the base currency and can start with a minimum deposit of $ 5USD. 1 microlot equals 1,000 units of the base currency.
  • Ultra Low Accounts : Ultra Low XM accounts can use EUR, USD, GBP, AUD, ZAR, SGD as the base currency and traders will require a minimum deposit of $ 50 USD. 1 Standard Ultra lot corresponds to 100,000 units of the chosen base currency, while 1 Micro Ultra lot corresponds to 1,000 units of the base currency. XM Ultra Low accounts do not apply to all entities in the group.
  • Standard : Standard accounts can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as the base currency and traders can start with just $ 5USD. 1 standard lot corresponds to 100,000 units of the chosen base currency.
  • Zero Accounts : Zero accounts can use USD, JPY and EUR as the base currency and traders will require a minimum deposit of $ 10USD. Like the standard account, 1 standard lot corresponds to 100,000 units of the chosen base currency.

XM Benefits

XM offers a full-service forex educational package, ideal for those just starting out in trading.

However, this does not harm the most experienced professional, who also has access to specialized analysis and unmatched tracking tools. As a company that prides itself on good customer service, its users are well served with support available in several languages.

XM Drawbacks

While support can be strong, some users don’t like customer support to be available only Monday through Friday. Another disadvantage is the lack of diversity between different types of accounts, which makes the feeling less personalized.

Other brokers offer a more distinct offer on their accounts, but the Micro, Standard and Zero accounts are almost identical. And finally, PayPal deposits are not currently supported, which can be problematic for some.

Merchants in certain regions are also prohibited from opening an account due to licensing laws, including Canada and the United States.

XM Business Hours

According to the time of the Forex market worldwide, XM is available 24 hours a day. For telephone trades, XM trading hours are Sunday at 10:05 pm GMT until Friday at 9.50 pm GMT.

XM Contact Details / Customer Support

The easiest way to get in touch with XM is through the live chat feature, located on the website’s contact page.

You can also email support at: support@xm.com

or call +357 25029933.

XM Security and Protection

There are no obvious security concerns with the site. Users are required to confirm their email address in order to open a demo account, but signing up for email updates is not a requirement. To open a trading account, identification documents are required. In accordance with the company’s privacy policy, XM has organizational procedures to ensure that personal data is kept safe.

XM General Verdict

XM offers a comprehensive brokerage service for traders of all levels. Whether you are just getting started and learning the ropes, or if you are an experienced trader looking for a reliable and efficient platform, XM is a solid choice. Despite the shortcomings with the different account options, the platform is easy to use and simple to navigate.

Accepted Countries

XM accepts traders from Australia, Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and many others countries.

Traders cannot use XM from the United States, Canada, Israel, Iran.

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