XM Broker Review

Author By Jeffrey Cammack
Updated: February 25, 2021
Overall Rating
4.38 4.38 / 5
Rated #7 of 56 Recommended Brokers
Min. Deposit
USD 5
Regulators
Trading Desk
Trading Cost
USD 16
Website Language
English, Malay, Chinese, Hungarian, Indonesian, Polish, Arabic, Portuguese, Vietnamese, Thai
Support Language
English, Chinese, Portuguese, Polish
AlertAccepts Kenyan Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

Summary

XM is a reliable multi-regulated CFD broker offering trading in Forex, stocks, commodities, indices, metals, and energies. XM leads the Forex industry in terms of education and market analysis, but with customer service closed on the weekend, beginner traders with technical issues could face difficultly.

With support for MT4 and MT5, trading costs below the industry average on both introductory and professional accounts, and a low minimum deposit of 5 USD, XM Group stands out from a crowded field of market maker brokers.

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
111115/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Excellent
Bonuses
$30 Trading Bonus

Account Information

Base Currencies
USD, EUR, GBP, JPY, CHF, ‎AUD, HUF, PLN, RUB, SGD, ZAR
Number of FX Pairs
57
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.60 pips
Commission
7 USD / lot - XM Zero Account
EUR/USD
0.6 pips
GBP/USD
0.6 pips
USD/JPY
0.0 pips
Max. Leverage
30:1

Company Details

Company Name
XM Group
Founded
2009
Website
Office Locations
Cyprus, Australia, Belize

Pros

  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals

Cons

  • Dealing desk

Pros and Cons

Pros

  • A leader in beginner and advanced trader education and market research material.
  • Low minimum deposit account for beginners.
  • XM Zero account has below average trading costs for more serious traders.
  • MT4 and MT5 support.

Cons

  • Customer service 24/5 limits weekend availability.
XM Homepage Image

Is XM Group Safe?

XM Group is the trading name of Trading Point Of Financial Instruments. XM Group has been regulated by ASIC (license 443670) since 2013, the “IFSC (000261/106) since 2017”, and CySEC (license 120/10) since 2010.

XM has won the award for the Best FX Broker Europe for 2017 & 2018 (World Finance Forex Awards 2017/8), an acknowledgement of this broker has achieved over the years. XM Group has also won awards for their educational material and customer support, winning Best Market Research & Education 2018 (Capital Finance International Magazine), Best Local Customer Service 2016 (FX168) and the Best Forex Customer Service (Shares Magazine UK Forex Awards 2018).

As per regulation, XM Group keeps client funds segregated from the day-to-day operational account of the broker. Every evening, an audit is run on all client accounts to ensure there is sufficient liquidity in the trading organisation.

These internal processes, industry recognition, and oversight from three major regulators shows that XM Group is a safe trading partner.

Trading Conditions

XM offers accounts with transparent commission structures on account types that apply, tight spreads as low as 0 pips on major currency pairs, and fractional pip pricing.  All leverage number mentioned in this review are for non-EU residents.  Account Types

XM offers a Micro account, a Standard account, and Zero account in addition to a free demo account. XM Group offers an Islamic swap-free option on all account types.  

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Micro
USD 5
888:1
1
None
Account Details
Standard
USD 5
888:1
1
None
Account Details
XM Ultra Low
USD 50
888:1
0.60
None
Account Details
XM Zero
USD 100
30:1
0.60
$7.00
Account Details

Zero Account – The Zero Account from XM offers spreads as low as 0 pips and leverage up to 500:1. These account conditions are revolutionary in this industry, especially for a market maker. This account requires a 100 USD minimum deposit for new customers.

Micro Account – The Micro Account has a 5 USD minimum deposit requirement. The max leverage with this type of account is 1:500.

Standard Account – The Standard Account offers different bonuses, faster support and more access to the broker’s other features. The minimum deposit for this account is 5 USD. The main difference between the standard and micro-accounts is the contract size. The standard account uses standard lots, while the micro account uses micro-lots.

XM Minimum Deposit

The minimum deposit for the Micro and Standard Accounts is 5 USD.

Spreads and Commissions

Spreads on the Micro and Standard Accounts are as low as 1 pip, while the Zero Account has spreads as tight as 0 pips. The Micro and Standard Accounts do not charge any additional commissions on the trade, but a commission of USD 3.5 will be charged on trades of 1 standard lot with the Zero Account.

Deposit & Withdrawal Fees

XM Group does not charge any fees for deposits and withdrawals from credit/debit cards and e-wallets. XM covers all transaction fees both ways for clients.

For deposits and withdrawals via international bank transfers, XM covers all fees imposed by their bank on all amounts above 200 USD.

Bonus Structure

XM offers signup bonuses, no-deposit bonuses and loyalty bonuses for customers who are actively trading. At the time of writing, there was 30 USD of no-deposit Bonus, 50% up to 500 USD and 20% up to 5000 USD.  Not that traders registered under Trading Point of Financial Instruments Ltd are not eligible for the bonus.

XM Group for Beginners

XM Group is a good broker for beginners with vast quantities of educational material, market analysis, webinars and seminars held around the world. The international customer service team is available for all client account and technical-related questions.

Educational Material

XM Group’s educational content focuses on instruction in a video format. Their core educational offerings are three Education Rooms, aimed at traders of differing skill levels (Primary, Intermediate and Advanced). The Primary Education Room is open to the general public but you will need to register for an XM Account for access to the others.

XM also has an extensive library of other educational videos and it hosts numerous seminars and webinars in over 18 languages.

Analysis Material

The research and analysis section of XM presents traders with a daily market preview, Forex previews, cryptocurrency analysis and special reports. Other sections that cover technical analysis, as well as analysis videos, focused on market fundamentals, assist clients in identify trading opportunities.

Customer Support

The award-winning customer service team at XM Group is available 24/5 via telephone, live chat and email.

Trading Platforms

XM presents traders the choice between the industry-standard MT4 platform, and the next generation trading product, MT5. It offers fast market execution and a no re-quotes policy on both platforms, though the MT5 platform offers 300 further stock CFDs.

The webtrader platform offers a seamless trading experience for traders who wish to trade from a web browser interface away from their regular workstations.

Mobile Trading Apps

The MT4 and MT5 mobile applications offer full XM account functionality to offer a seamless transition from the desktop application. The MT4 and MT5 applications vary in the number of technical indicators and instruments available to trade and have different chart types and market analysis tools.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the XM Group offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

XM Group Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. XM Group would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure.

Overview

XM Group is a serious market maker broker and provides a level of professional service beyond their peers. XM has been widely recognised and rewarded by the industry and, with regulation from CySEC, the IFSC, and ASIC along with support for the leading trading platforms, has strength in accountability and technology.

XM Group has extensive instructional documentation and support to get new traders started, as well as regular market forecasts and webinars to appeal to all traders.

FAQ

Is XM Safe?

Yes, is a trusted international broker. XM is regulated by ASIC in Australia and by CySEC in Europe. They have won multiple international awards.

What assets can I trade at XM?

Forex, stocks, commodities, indices, metals and energies.

What is the minimum deposit at XM?

Trading accounts can be opened for 5 USD. The minimum deposit for the for the professional XM Zero account is 100 USD.

Is XM good for beginners?

XM has some of the best beginner and advanced learning material in the industry, with additional daily market analysis for free to all clients.

AlertAccepts Kenyan Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 30:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.38/ 5
USD 5
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Metals
Equities
Energies
57
0
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Dealing desk
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
11110.54.5/ 5
111104/ 5
77.19% of retail investor accounts lose money when trading CFDs with this provider
30:1
0.60 pips
Micro
Standard
XM Ultra Low
XM Zero
Bank Transfer
Sofort Banking
Visa
Mastercard
Maestro
Skrill
Neteller
Bitcoin
Unionpay
7 USD / lot - XM Zero Account
1110.503.69/ 5
USD 200
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Equities
52
16
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
111104/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
11110.54.5/ 5
111104/ 5
67% of retail investor accounts lose money when trading CFDs with this provider
30:1
1 pips
Professional
Standard
etoro
Visa
Mastercard
Neteller
Unionpay
Skrill
Paypal
Fees Included in Spread
1110.503.24/ 5
USD 250
Market Maker
Commodities
Cryptocurrencies
Forex
47
4
  • Good for beginners
  • Great customer support
  • Copy trading accounts
  • Expensive withdrawals
  • Local regulation only
111003/ 5
110.5002.5/ 5
111104/ 5
100001/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
200:1
1.50 pips
Bronze
Gold
Premium
Silver
Sirix
Bank Transfer
Neteller
Visa
Mastercard
Fasapay
Fees Included in Spread

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AlertMost retail CFD accounts lose money. Your capital is at risk.

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