XM review
XM is a Multi-Assets Trading Platform with over 1000+ Assets
XM is a multi asset platform with 1000+ tradable Assets.
Assets available on XM include Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious
Metals CFDs, Energies CFDs.
XM trades in multiple financial asset types. A financial asset is any security or asset that has financial value attached, tangible or intangible. This means that Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs are considered financial assets.
Features of XM
- Virtual Portfolio, or what is commonly known as a Demo Account
- StopLoss
- Trailing Stops
- TakeProfit Orders
- XM offers Advanced Financial Chart comparison tools
- XM offers Research-backed analysis on financial markets and investments from top analysts
- The XM platform is available to use on multiple devices including Windows PC, Apple Mac computers, iOS devices like iPhones and iPads, Android devices and online through a Web Browser.
- XM offers a trading platform with tools for both New Traders and Seasoned Experts
- XM users benefit from using the XM platform in over 25 different languages
XM review
What you should know
XM offer six ways to trade: Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs. The assets and products available to you on the XM trading platform depends on the region of the world, you are in and the XM entity you have an account.
With XM you will need a minimum deposit of $5. You can sign up for a demo account to acquaint yourself with XM platform.
XM are able to accommodate various levels of traders whether you are experienced or a beginner.
Are XM safe?
When considering XM for your trading activities, its financial regulatory status in your region is crucial. One of the primary considerations when evaluating a broker, such as XM, is to assess the broker's regulatory status and administrative body. Brokers operating without supervision from a regulatory authority are free to make their own rules, which may pose a risk to investors. Any capital you invest is at risk.
Established in 2009, and in operation for 15 years XM have a head office in Cyprus.
XM is regulated. This means XM are supervised by and is checked for conduct by the Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) regulatory bodies.
XM withdrawal requests will be honoured. Brokers that operate under the supervision of regulatory authorities like XM are subject to strict guidelines that prohibit them from manipulating market prices to their advantage. Regulatory oversight ensures brokers operate with integrity, fairness, and transparency, safeguarding investors' deposits. XM are held accountable for their actions and may face severe consequences if they violate any financial regulations. If you are a client of XM and wish to withdraw funds from your account, you can rest assured that your request will be processed promptly. XM has a reputation for efficient and reliable fund transfers, and adhere to the rules of the financial regulators they are regulated with. When you submit a withdrawal request, XM will verify your account details and process the payment within the stipulated timeframe, usually within a few business days. By partnering with a trustworthy broker like XM, you can enjoy peace of mind and focus on your trading activities. If XM violate any regulatory rules their regulated status could be stripped.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
Is my money safe with XM?
All payments made to XM by traders are securely held in a segregated bank account.
XM uses Tier 1 banks for increased security. These banks are deemed the most reliable for client capital due to their strong core capital reserves and ability to withstand losses.
What are Tier 1 banks and why should XM use them?
XM partnering with Tier 1 banks offers reliability, efficient payment processing, reduced counterparty risks, and better protection for client funds. These banks are the most financially stable and secure institutions globally, with robust financial strength and high-quality risk management practices. They hold substantial core capital reserves, making them capable of handling unexpected losses and market volatility without endangering their XM clients' funds.
XM clients can have greater confidence in their financial security when working with a Tier 1 bank because XM are subject to strict regulatory oversight and must adhere to stringent guidelines to maintain its Tier 1 status.
What does it mean to have your funds in XM deposited in a Tier 1 bank?
Depositing funds with XM ensures that your money is held in a secure bank account with sufficient capital to meet your withdrawal requirements, even if XM were to go out of business unexpectedly.
Based on the information presented, it is safe to conclude that XM is a secure and safe platform.
Please be aware that trading in financial assets with XM carries a risk of loss. XM trading risk can occur due to inadequate market research, lack of experience, or failure to use the platform tools. It is common to experience rapid losses when trading financial investments like Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs due to market volatility. Therefore, you should only risk trading when you understand that your capital is at risk at any time.
XM emphasizes this risk on its platform and provides clear risk warnings - CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. After answering some important questions about XM, let's closely examine its features.
To better understand the XM trading platform, you can create two separate accounts - one with real money and the other a XM demo account. A XM demo account provides a risk-free environment for experimenting with the XM platform's features and trading strategies before risking your actual funds. This approach can help you gain experience and confidence in XM trading decisions.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
How XM as a Company Compare Against Other Brokers
| Broker |
XM
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Year Established | 2009 | 2007 | 2009 | 2007 |
| Head Office | Cyprus | Australia | Belize | Cyprus, UK |
| Regulation | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | RoboForex Ltd is regulated by the FSC, license 000138/437, reg. number 128.572. RoboForex Ltd, which is an (A category) member of The Financial Commission, also is a participant of its Compensation Fund | FCA (Financial Conduct Authority) eToro (UK) Ltd (FCA reference 583263), eToro (Europe) Ltd CySEC (Cyprus Securities Exchange Commission), ASIC (Australian Securities and Investments Commission) eToro AUS Capital Limited ASIC license 491139, CySec (Cyprus Securities and Exchange Commission under the license 109/10), FSAS (Financial Services Authority Seychelles) eToro (Seychelles) Ltd license SD076 |
| Used By | 10,000,000+ XM users | 180,000+ IC Markets users | 1,000,000+ Roboforex users | 30,000,000+ eToro users |
| Negative balance protection | Yes | Yes | Yes | Yes |
| Guaranteed Stop Loss | No | No | No | No |
| Learn More | Visit XM | Visit IC Markets | Visit Roboforex | Visit eToro |
| Risk Warning | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. |
XM review
XM Pros and Cons
XM review
XM Regulation and Licensing in more detail
XM is regulated by trusted organizations, providing recourse for any issues. Regulatory bodies protect traders through reimbursement schemes in case of XM going into insolvency. XM compliance with rules and criteria set by regulatory authorities is mandatory for brokerage firms like XM to maintain licenses and operate in certain jurisdictions. Financial regulation and licensing are crucial for creating a secure trading environment for XM traders.
- Financial Services Commission (FSC)
- Cyprus Securities and Exchange Commission (CySEC)
- Australian Securities and Investments Commission (ASIC)
XM is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the brokers' behaviour, and they will take necessary action if things go wrong. Before trading online with a broker like XM you should be sure they're legitimate online agent.
Is XM Global?
Yes, XM is global as XM is available in over 190 countries.
XM is a global trading platform in the sense that it operates in 190 countries including nations in Africa, Asia, Oceania, and Europe. Major countries XM covers include the UK, Germany, South Africa, Thailand, China and Australia. XM has a total of more than 10,000,000 users. Commendable figures from XM.
XM review
XM Awards
XM have won numerious industry awards over the 15 years they have been operating as a financial broker. We have listed the most notable awards and mentions for XM below.
- Best FX Service Provider 2022 - Wealth Management Awards
- Best Crypto CFDs & Mobile App 2022 - Eqypt Financial Expo
- Best Forex Trading Support 2022 - Global Forex Awards
- Best FX Broker 2022 - World Finance
- Best Education And Market Research 2022 - FX Scouts
- Best Webinar Series 2022 - Forex Brokers
- Global Forex Broker Of 2022 - Global Forex Awards
- Best Trading 2021 - Ultimate Fintech
- Best Forex Educational Broker For MENA 2021 - Dubai Expo
- Best Forex Provider 2021 - City Of London Wealth Management
- Best Customer Service 2020 - Global Business Awards
- Forex Broker Of 2019 - Global Forex Awards
- Best Broker 2019 - FinTech Age
XM review
XM Fees Explained
- XM doesn't charge withdrawal fees.
- XM does charge a fee for inactive accounts.
- XM doesn't charge deposit fees. A currency conversion fee may be applied as withdrawals and deposits from XM are conducted in USD. Any other currency will have to be converted to your local currency by your 3rd party payment provider.
XM Costs To Check
Modern brokers like XM provide advanced online trading platforms, mobile apps, financial analysis tools and educational resources. These services require significant investment, and in turn, XM may charge clients various fees for trading activities. Be mindful of these charges, impacting your overall XM trading profitability.
How XM Fees Compare Against Other Brokers
| Broker |
XM
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Min Deposit | 5 | 200 | 10 | 100 |
| Withdrawal Fees | No | No | Yes | Yes |
| Inactivity Fees | Yes | No | No | Yes |
| Deposit Fees | No | Varies | No | No |
| CFD Commission Fees | No | Yes | No | Yes |
XM Minimum Deposit
XM requires a minimum deposit of 5 GBP/USD/EUR when opening an XM trading account.
A minimum deposit is the minimum amount of money required by XM to open a new online brokerage account with them.
Don't be scared off by brokers like XM charging a minimum deposit to open a trading account. Brokers charging higher minimum deposits may offer additional premium services on their platforms that are not free on other platforms.
In the trading world, brokers like XM, have different minimum deposit requirements based on the target audience they are trying to attract. Brokers with lower minimum deposit requirements typically cater to a more mainstream audience who don't require advanced research tools or features. On the other hand, brokers that require a larger minimum deposit often provide a greater range of trading features, more in-depth technical analysis, research tools, and better risk management features.
Some brokers may waive the minimum deposit requirement to attract new customers but may compensate for it by charging higher transaction commissions and trading fees. As the online trading market becomes more competitive, brokers have reduced their minimum deposit requirements to attract new clients.
However, it's important to note that depending on your trading account type, some brokers may require a higher minimum deposit of up to 10,000 GBP/USD. Therefore, it's essential to research and compares different brokers to determine which best suits your trading needs and budget.
XM Withdrawal Fees
XM doesn't charge withdrawal fees.
XM Withdrawal rules may vary across different brokers when it comes to transferring funds from your XM or other broker trading account. Each brokerage firm has its specific withdrawal methods. The payment provider associated with XM may have different transfer processing fees and processing times, affecting how long it takes to receive your funds.
In addition, currency conversion fees may apply if the XM withdrawal and receiving currencies differ, adding to the overall transaction costs. The currency conversion fee depends on your base currency, receiving currency, and the 3rd party payment provider that is separate from XM. Researching and comparing XM withdrawal policies and fees across different brokers is essential before choosing one, especially if you are withdrawing XM funds frequently or dealing with large sums of money. Awareness of these XM fees and policies can help you plan and budget accordingly and avoid any unpleasant surprises when transferring your XM funds.
XM Group accepts Multiple Local Payment Methods, including Credit / Debit Cards, Skrill, Bank Wire Transfers, etc.
XM Inactivity Fees
XM does charge a fee for inactive accounts. The XM Inactivity Fee is imposed after 90 days of inactivity.
When a trading account goes unused for a certain period, brokerage clients may be charged an account inactivity fee. To avoid such fees, clients may need to fulfill specific trading activity requirements outlined by XM terms and conditions. It's important to note that inactivity fees are not unique to online trading accounts, as many financial service companies may also charge them.
Make sure you're fully aware of all XM fees and services. It's recommended that you check the XM website before signing up. If you decide to close your XM account, it's important to do so with the XM broker customer support and obtain confirmation that no remaining XM fees are due.
Brokers like XM must disclose any inactivity fees as part of their regulations. The type of account and broker you sign up for, will determine whether or not you can be charged an inactivity fee under certain circumstances.
Certain brokers may levy inactivity fees to recoup the expenses associated with sustaining your account on their trading platforms when there is a shortage of commission fees earned from your trading activities.
XM Deposit Fees
XM does not charge deposit fees. Although bank / 3rd party merchant fees may apply.
Reviewing deposit fees before initiating a transaction is imperative, as certain brokers might impose a charge for depositing funds from your payment method to your trading account. The payment method employed for funding your account might also incur a fee.
Depositing funds into your trading account may incur a fee, which could vary depending on the fiat currency used. For instance, depositing funds from a credit card can attract high fees. Additionally, not all brokers accept credit card payments for account funding. It's crucial to review the funding options and associated fees the broker provides before depositing any funds.
XM Commission Fees
XM does not charge commission on CFD instruments.
Brokerage firms like XM may charge commission fees as compensation for executing trades on behalf of traders on their trading platforms. Commission fees can vary depending on the type of financial asset being traded and the XM trading account level held by the trader.
XM may charge commission fees for fulfilling, modifying, or canceling an order on behalf of its clients. However, if a market order is not fulfilled, no commission fee is usually charged. Reviewing XM terms and conditions to understand the commission fees and any other charges that may apply is essential.
XM review
What can you trade with XM?
It's essential to note that the trading instruments offered under the XM brand may vary depending on the customer account holder and country of residence due to regulatory restrictions. Besides, the trading platform the customer selects may also impact the available trading instruments. Therefore, before trading, verify the XM trading instruments available and the regulations governing them based on your account holder, location, and chosen platform.
You can trade a wide variety of instruments with XM over 1000 instruments in fact. Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs are all available on XM.
If you want to trade currency pairs on global Forex markets, XM offer over 55 currency pairs.
XM Compared To Other Brokers
Compare XM with IC Markets and Roboforex below.
How XM Trading Options Compare Against Other Brokers
| Broker |
XM
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Instruments Available | 1000 | 2250 | 100 | 5000 |
| Platforms | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, Web Trader, cTrader, Windows, Mac, iOS, Android | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps |
| FX / Currencies | ||||
| Forex pairs offered | Yes | 61 | 35 | 50 |
| Major Forex pairs | Yes | Yes | Yes | Yes |
| Minor Forex pairs | Yes | Yes | Yes | Yes |
| Exotic Forex pairs | Yes | Yes | Yes | Yes |
| Cryptocurrencies (availability subject to regulation) | No | Yes | No | Yes |
| Commodity CFDs | ||||
| Commodities Offered | Yes | 20 | 21 | 31 |
| Metals | Yes | Yes | Yes | Yes |
| Energies | Yes | Yes | No | Yes |
| Agricultural | No | Yes | No | Yes |
| Indiced & Stock CFDs | ||||
| Stocks Offered | Yes | 2100 | 0 | 2042 |
| UK Shares | Yes | Yes | Yes | Yes |
| US Shares | Yes | Yes | Yes | Yes |
| German Shares | Yes | Yes | Yes | Yes |
| Japanese Shares | Yes | Yes | Yes | Yes |
| Risk Warning |
Visit XM
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. |
Visit IC Markets
Losses can exceed deposits |
Visit Roboforex
Losses can exceed deposits |
Visit eToro
76% of retail investor accounts lose money when trading CFDs with this provider. |
XM review
Trading on XM web platforms and other applications
XM is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.
A XM iOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device.
XM also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go.
See XM's platformsIs the XM Trading Platform Secure?
You should take the security of your personal information seriously and check SSL encryption is enabled on the XM trading platform to protect you on PC and mobile XM platforms. To further enhance security, we encourage traders to always look for the lock sign on their browser when using XM web trading platforms.
XM Trading Platform Options
After logging into your XM account, you'll find a range of trading platform options available below.
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
XM does not support the cTrader trading platform. However, if you're looking for a broker that does offer cTrader, you can explore other options available through the provided link.
Let's explore each of these trading platforms in detail and what options XM gives you.
XM review
XM MetaTrader 4 (MT4)
XM MetaTrader 4 (MT4) In Detail
MetaTrader 4, commonly known as MT4, has been a well-known and widely used trading platform in the financial markets since its inception in 2005. MT4 on XM offers traders comprehensive features and tools to enhance their trading performance. The XM MT4 user-friendly interface and highly customizable trading environment allow traders to tailor the XM platform to their needs. One of the standout features of MT4 is its charting functionality, which allows XM traders to analyze price movements and make informed trading decisions. Additionally, advanced order management tools give XM traders greater control over their trades, allowing them to manage risk better and optimize their trading strategies on the MT4 XM trading platform.
MetaTrader 4 (MT4) was created mainly for Forex trading, but it can also facilitate the trading of other financial instruments via CFDs and Spread Betting. You cannot trade real assets like stocks, shares, commodities, indices and ETF's on the XM MetaTrader 4 (MT4) trading platform. MT4 is a platform available with XM, that facilitates trading financial instruments in the form of CFD contracts or Spread bets. The XM MT4 platform does not provide access to physical assets such as stocks, commodities, or ETFs for trading. XM allows trading CFDs and Spread bets, which do not involve owning underlying assets but speculating on price movements, using high risk leverage. To gain more information about the MT4 Platform, click here.
You can start using the MetaTrader 4 platform with XM in multiple formats including through an online web platform, Through a downloadable application for Windows PCs and Apple Macintosh computers. XM MetaTrader 4 is compatible with the latest macOS. XM allows traders to trade on mobile devices through Android and iOS devices like the iPhone.
Metatrader 4 Webtrader on XM
MetaTrader 4 (MT4) is a widely used trading platform in the world, offering a range of advanced tools and features. Recently, MT4 has been made available as a web-based application through a web browser, enabling traders to access the platform from anywhere.
The web version of MT4 provides the same user-friendly interface and customizable trading environment as the desktop version. With MT4 web, traders can access advanced charting tools, online trading indicators, and a Dealing Desk-free trading environment.
Additionally, traders can enjoy Raw Pricing without any intervention from brokers. Overall, MT4 web is a convenient and efficient way for traders to access the platform and manage their trades.
Trade XM MetaTrader 4 on iOS Devices
You can download the XM app or trade with XM through the MetaTrader 4 application on the Apple app store.
Download the Metaquotes MetaTrader 4 Program free of charge from Apple's App Store. XM customers have instant access to the financial market and can completely manage a Portfolio on the go.
Trade XM MetaTrader 4 on Android Devices
Millions of people worldwide use Android mobile devices and tablets, and XM offers its clients access to the MetaTrader 4 platform on these devices. With the XM MetaTrader 4 Android application, traders can monitor the financial markets and execute trades directly from their Android-based smartphones and tablets. This app provides access to a range of advanced trading features, allowing XM traders to stay on top of their trades and react quickly to changes in the market. With the XM MetaTrader 4 Android app, traders can securely manage their trades on the go, making it a convenient and efficient way to stay connected to the market.
Trade XM MetaTrader 4 Trading Central
Trading Centrals Alpha Generation Indicators available on XM are a powerful bundle of three major indicators designed to help traders make informed decisions. XM MT4 Trading Central indicators include:
- Analyst Perspectives - A valuable resource for traders seeking leadership insights and key levels.
- Adaptive Candlesticks - This indicator is capable of identifying chart patterns that highlight significant changes in demand and supply.
- Adaptive Divergence Convergence (ADC) - Similar to MACD, but with greater utility at shorter lengths, this indicator provides more timely signals.
Trading Centrals Alpha Generation Indicators can help XM traders better understand market trends and patterns, enabling them to make more informed trading decisions. These indicators can provide valuable insights into market movements, allowing XM traders to potentially stay one step ahead.
XM MetaTrader 4 Advanced Trading Tools
The XM MetaTrader 4 trading platform has advanced tools that enhance the overall trading experience and give XM traders detailed market tools. With feature-rich trade execution and management programs, sophisticated notification alarms, messaging facilities, innovative market data, and more, XM provides traders with everything they need to succeed. The XM MT4 platform also includes a range of technical analysis tools, with 30 indicators built in, 2000 plus free indicators, and the availability of paid indicators, allowing XM traders to analyze the market at any level of complexity.
Trade XM MetaTrader 4 MultiTerminal
MetaTrader 4 MultiTerminal offers traders an intuitive and user-friendly dashboard to manage and monitor multiple trading accounts. This powerful tool allows traders to oversee over 128 accounts simultaneously, enabling them to place market and pending orders, view real-time market prices, and track all accounts and equity in real-time.
It's important to note that MultiTerminal only supports trading accounts on the same MetaTrader server and doesn't allow automated trading scripts such as Expert Advisors.
This tool is ideal for traders who manage several accounts simultaneously and require a more efficient and effective way to track and execute trades. You can have up to 10 demo accounts on MetaTrader 4 MultiTerminal.
XM MetaTrader 4 & MetaTrader 5 AutoChartist
Autochartist on the XM platform is a powerful tool designed to help traders find trading opportunities quickly and easily.
Available for XM MetaTrader 4 and MetaTrader 5 Autochartist can scan the market using an expert advisor script.
With Autochartist, XM traders can scan multiple markets and timeframes from a single graph, making it easy to keep track of all their preferred symbols without launching multiple graphs. Using Autochartist can save XM users time and makes the trading process more efficient.
The Autochartist interface is user-friendly and can be customized to suit individual trading preferences. XM traders can navigate the platform and find the information they need to make informed trading decisions.
XM Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for XM traders of all experience levels.
XM review
XM MetaTrader 5 (MT5)
XM MetaTrader 5 (MT5) In Detail
XM MetaTrader 5 (MT5) is a multi-asset trading platform with an extensive range of trading features and financial research tools. Besides the ability to trade Forex and CFDs, XM MT5 offers access to trade Futures, Stocks, Algorithmic Trading, ETFs, and Indices. MT5 was launched in 2010 and came with advanced charting tools, additional timeframes, and an updated version of MetaTrader 4.
MT5 on XM provides the convenience of using automated trading systems and copy trading, giving XM traders competitive research tools in the financial markets.
You can learn more about the MT5 Platform here. You can also learn more about the differences between MT5 and MT4 here.
Trade XM MetaTrader 5 WebTrader
Access your XM MetaTrader 5 accounts from any web browser. MT5 on XM features a massive range of tools like additional timeframes and the most up-to-date technical indicators to give you all the trading resources you need to trade on and analyze the financial markets.
XM review
XM MT5 Buying and Selling
XM MetaTrader 5 on iOS Devices
XM MetaTrader 5 Can Operate on newer iOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. You should upgrade the iOS MetaTrader 5 app regularly. New versions provide improved functionality and increased stability. XM MetaTrader 5 allows traders to look at market statistics of financial instruments traded in the market execution mode.
XM MetaTrader 5 on Android Devices
The XM MetaTrader 5 trading platform is available on Android smartphones or tablets powered by the Android 5.0 or higher operating system. Additionally, to connect to the XM trading server. Take the time to understand all of the XM Android MetaTrader 5 features. With XM MetaTrader 5 for Android, you can trade various financial instruments anytime, anywhere.
XM Metatrader Mobile Application Features
MetaQuotes, the developers of Metatrader, have listened to the feedback of their millions of users and have built what has become one of the most popular mobile trading platforms in the world. MetaTrader features include :
- XM Financial instrument quotes
- View in-depth price charts of financial instruments with XM MetaTrader
- Manage trades and open positions on XM MT4 & MT5
- View your XM trading history
- View market news
- MetaTrader internal messaging on XM
- View and research market statics of XM financial instruments
- XM Position opening and closing
- Lookup symbols in the XM MetaTrader quotes section
- Display of deals on XM graphs
- XM Timeframe selection for graphs and charts
- Additional vertical scaling of XM graphs
- Capability to transfer XM accounts to other devices using QR codes
- Information is available only if it's supplied by XM
- Access the OTP generator through FaceID or fingerprint with XM
XM MetaTrader 5 Advanced Trading Tools
XM MetaTrader 5 has many advanced trading tools for more advanced users. Understanding these tools can give you a competitive edge.
- XM MT5 Depth of market bids and asks
- Financial Price Data on XM
- Margin Calculation, Futures, Forex on XM
- Advanced Techincal Analysis on XM MT5
- One click trading on XM MT5
- XM Spreads
- XM Futures
- XM Trading Reports
XM Trading benefits
- XM Allows scalping
- XM Allows hedging
- XM Low min deposit
- XM Offers Negative Balance Protection
XM Trading Accounts Offered
Below we give an overview of the account types that XM offer. Whatever you are looking to trade, the varying XM account types will be able to provide you with what you need.
- XM Demo account
- Micro account
- XM Standard account
- XM Islamic account
Can I try XM?
XM provides a demo account that enables individuals to explore trading before investing their funds. By creating a XM practice account, users can gain experience and knowledge of how to trade effectively. Demo trading accounts like the XM demo account can help individuals to make informed decisions before investing their money.
Open a demo XM account to practice and trade.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
XM withdrawal and funding methods
It's essential to remember that the payment methods provided by XM vary based on the XM entity and the XM client's country of residence. To view the XM payment options available, you can log into your XM member's area.
XM offers various funding payment methods listed in your XM dashboard if available in your region. To learn more about the XM funding and withdrawal options available in your area, you can explore the XM website.
XM offer several local deposit and withdrawal methods. learn more about XM funding and withdrawal methods.XM Payment Methods
XM Offer multiple local payment methods. Some XM payment methods are local and are available only to specific regions. XM account holders should check which payment methods are provided in your region.| Broker |
XM
|
IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes |
| Credit Cards | Yes | Yes | Yes | Yes |
| Paypal | No | Yes | No | Yes |
| Skrill | Yes | Yes | Yes | Yes |
| Payoneer | Yes | No | Yes | No |
| Neteller | Yes | Yes | Yes | Yes |
*please note available XM and other broker payment methods depend on the clients country of residence.
How can I start trading with XM?
To open a trading account with XM, individuals can sign up on the XM website. Upon completing the signup process, users will receive login details via email, which they can use to access their accounts.
The next step involves submitting identification documents for XM account validation and making a deposit. Once completed, XM users can download the trading platform of their choice.
It's important to note that XM requires users to provide essential documentation to verify their identity during onboarding and routine KYC identity checks. These checks are a standard practice that helps XM maintain a trustworthy financial environment for its 10,000,000 users. Detailed information on the XM trading platforms is available on their website.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
Performing trades with XM
When using XM, the minimum trade size is typically 0.01 Lot units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. XM have a max trade of 50 Lot.
XM, as a market maker, may have more lenient entry requirements than ECN brokers, who typically benefit from higher trading volumes and may have larger capital and minimum trade requirements. Market makers usually offer a lower minimum deposit and smaller minimum trade requirements and do not charge commissions on trades. Market makers like XM can be useful for traders starting or with limited capital.
One of the XM platforms notable features is its claim of having no requotes, which means traders need not be concerned about slippage when executing trades (i.e., trades being executed at a price different from the intended price). No requotes can provide XM traders with greater confidence and peace of mind when trading on the XM platform. It's worth noting, however, that other factors, such as market volatility and liquidity, can still affect the execution of XM trades.
Like other brokers, XM margin requirements can differ depending on the traded instrument.
XM offers traders several risk management tools and features, such as Technical analysis, Fundamental analysis, Diversification of portfolio, Negative Balance Protection, Stop losses (with trailing stop loss orders), Position sizing techniques, Price alerts, Position sizing techniques, Limit orders, Hedging strategies, amonst others. You can learn more about XM, and see all of the XM account features on the official XM website.
CFD Trading on XM
We will show you an example of the basics of using XM leverage.
CFD trading on XM allows traders to speculate on the price movements of various financial instruments against the broker XM, without actually owning real assets. With CFDs, XM traders can profit from upward and downward price movements by going long (buying) or short (selling) on an asset.
XM provides CFDs which are leveraged products. For this example, let's assume a ten times leverage. So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position.
The effect of leverage on profits and losses magnifies them in both directions. In other words, XM leverage profits and losses are magnified when trading. For instance, using CFDs, you use the XM trading platform to buy/sell $10,000 worth of Apple Computer Inc. If the stock rises by 10% due to positive results, your position is now worth $11,000, representing a $1,000 or 10% increase in value. This CFD trade has a 100% increase in the funds initially committed.
On the other hand, if Apple Computer Inc falls by 10%, your position worth $10,000 is now worth only $9,000, representing a $1,000 decrease. Therefore, XM leverage magnifies both profits and losses in trading.
Trading CFD trades on the XM platform can provide more flexibility than traditional market trades, allowing access to CFD fractional shares, international markets, and short selling. They are commonly used for short to medium-term trades, such as intraday CFD trading, but are high-risk due to their separation from the financial markets.
Experienced XM traders can trade high risk CFD trades to hedge items in their portfolio.
Always be aware that CFDs are complex instruments with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
Limiting Your Risk When Trading with XM Negative Balance Protection
Negative balance protection is important for traders using leverage on platforms like XM. In an unfavourable market move, leverage can result in a loss that exceeds the trader's account balance, leaving them with a negative account balance. If a XM trading position does not go in your favour, this is where negative balance protection comes in handy.
Brokers regulated by the Financial Conduct Authority (FCA) must offer negative balance protection as a standard feature. With negative balance protection, XM trading losses are always limited to the current balance of funds in the trader's account.
Even if an XM trader experiences a significant loss, they will never owe more money than what is available in their XM account balance.
It's important for XM traders to understand the potential risks of trading with leverage and to take advantage of features like negative balance protection to mitigate those risks. By doing so, traders can trade with peace of mind, knowing that XM losses are limited to the funds available in your XM account when negative balance protection is in place.
Limit Risk When Trading with XM Stop Loss, XM Stop Limit Orders
Stop-loss orders are a popular risk management tool traders use on platforms such as XM . By setting a specific price point for buying or selling a security, traders can limit their potential losses on a position.
Stop-loss orders are especially important for XM traders not hedging their positions or using leverage, as they can be more vulnerable to significant losses. However, the circumstances in which an XM trader should use a stop-loss order can vary depending on the specific trade and market conditions.
Overall, stop-loss orders can provide XM traders with an effective way to manage risk and protect their investments in volatile markets. Stop Loss and Take Profit are not guaranteed with XM, you must actively monitor your live trading portfolio and financial exposure on XM.
Education Resources at XM
To trade effectively with XM, it's important to have a good understanding of the XM trading tools and the markets. Make sure you make full use of all education tools. Including educational tools with XM and externally.
XM . It's essential to take the time to learn about the financial markets and understand how they move before diving into trading with XM. Familiarizing yourself with the XM trading platform is crucial to use it effectively.
While learning, you can also use global trading times to practice making live buy or sell trades using XM. This hands-on experience can help you gain confidence and become more comfortable with trading.
Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with XM involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.
Learning about the financial markets, trading platforms like XM, and risk management techniques can help you become a more confident and successful trader.
Take an analytical approach to trading with XM. Explore the XM platform and train yourself to think systematically and logically about the markets.
While it may be a new skill set for some, it is what the market requires for success. Developing your trading skills with XM, before live trading.
Customer Support at XM
As part of our XM review, we review customer service options, response times and problem resolution effectiveness on the XM trading platform. The XM trading platform supports multiple languages, which includes Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish.
XM Available Support Types
XM has a triple AAA grade support and customer service rating because they offer various range of languages, live chat, and email support.
XM customer service supports multiple languages from all over the world. Having a broker that can hire people from various locations worldwide who can better communicate with you in your local language is a huge advantage when dealing with issues.
Your customer service experience with XM has to be positive for you to effectively trade the financial markets on the XM platform. XM should answer all of your questions and your XM platform issues are solved. When an XM customer has any queries regarding XM, the XM customer support team should take these issues seriously and offer a quick and effective solution. XM has a great client support team, so we have rated their customer service highly.
Livechat Support at XM
We experienced fast and responsive support from XM
At XM, customer support is a top priority. We put their live chat to the test, reaching out through both their app and website. We were pleasantly surprised to receive a response within three minutes. Don't take our word for it. Test the chat service yourself. A responsive chat service from XM should be a positive support experience for all XM users, saving you from waiting days for an email response.
We also tested communicating with XM support in various languages and countries. The XM help centre quickly resolved our customer issues.
Email Support at XM
As part of our review process, we wanted to test the email support offered by XM. We sent 25 emails at different times and were impressed with the response times. We received the fastest response in less than 2 minutes, and the slowest response was 3 hours. While your experience may vary, our testing shows XM has excellent email support overall.
The support team quickly and efficiently resolved all of our queries. Overall, we were very satisfied with the email support provided by XM. If you're looking for a broker with reliable email support, XM is worth considering.
Phone Support at XM
Our experience with XM phone support was positive. When we called, the team answered our call promptly, in less than a minute.
During the call, we tested the multilingual XM team by speaking in different languages, and they made an effort to answer our queries in each language.
The phone support team successfully resolved our questions and issues over the phone. Overall, we found the phone support from XM good.
See how XM Support Compares Against Other Brokers
| Broker |
XM
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IC Markets
|
Roboforex
|
eToro
|
|---|---|---|---|---|
| Support |
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| Languages | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish | English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more | English, Chinese Simplified, Chinese Traditional, Indonesian, Malaysian, Portuguese, Spanish, Italian, Polish, Arabic, Thai, Russian, and Ukrainian | English, German, Spanish, French, Italian |
| Learn More | Visit XM | Visit IC Markets | Visit Roboforex | Visit eToro |
| Risk Warning | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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. | Losses can exceed deposits | Losses can exceed deposits | 76% of retail investor accounts lose money when trading CFDs with this provider. |
What you will need to open an account with XM
As XM is regulated by Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC).
As a new client of XM, you will be required to pass a few basic compliance checks to ensure that you fully understand the risks involved in trading and are permitted to trade with XM in your region. During the XM account opening process, you will be asked to provide XM with certain documents, including a scanned copy of your passport, driving license or national ID, as well as a utility bill or bank statement from the past three months to verify your address.
When registering with XM have the following documents available.
- XM require a scanned colour copy of your passport, driver's license or national ID card.
- A recent utility bill or bank statement that confirms your residential address for XM compliance. This must be dated within the last six months.
- If you plan to fund your XM account using a credit or debit card, you will need to provide a scanned copy of the front and back of your card. You can mask any sensitive information like the CVV code on the XM platform.
It's worth noting that the expiration date of the proof of address document may differ for different entities under XM Brand. Additionally, you will need to answer some basic compliance questions to confirm your level of trading experience. This process usually takes around 5 minutes, and once you've passed compliance, you can start exploring XM's platform.
However, remember that you won't be able to make trades on XM until you have passed compliance, which may take several days, depending on your circumstances. It's essential to complete the XM KYC compliance process as soon as possible to avoid any delays in accessing the XM platform's features.
It is important to note that XM may request additional documents or information to verify your identity or comply with regulations. The account opening process usually takes a few minutes to complete, and you can start exploring the XM platform and features immediately. However, you must pass the verification process to start live trading with XM, which can take up to a few business days.
To start the process of opening an account with XM you can visit the XM trading platform here.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
You should consider whether you can afford to take the high risk of losing your money.
CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered investment advice. All information collected from https://www.xm.com on April 22, 2024.
Watch this XM Explainer Video
Is XM A Good Broker?
We have spent over 5 years examining XM in depth. Although XM are not perfect; we found many really useful aspects with the overall offering from XM. Our personal experience of trading with XM was very good. Weighing up many points,XM is a good broker.
- XM have a good track record of offering Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs.
- XM has a history of over 15 years.
- XM has a reasonable sized customer support of at least 10.
- XM are regulated by the Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC). XM is subject to strict regulatory oversight from its respective jurisdiction, which holds XM (the broker) accountable for misconduct. This regulatory framework helps ensure that XM operates fairly and transparently and provides XM customers with a safe and secure trading environment. In any disputes, the regulatory body may also act as an arbitrator to help resolve issue between you and XM.
- XM have regulation from reputable regulators.
- One of the advantages of using XM is the quick processing time for deposits and withdrawals, which typically takes only 2 to 3 days. Fast withdrawals from XM are particularly important as XM traders want to receive their money quickly. With the efficient XM payment processing system, traders can enjoy faster access to their XM funds.
- XM have an international presence in multiple countries. Including local XM seminars and training.
- XM can hire people from various locations in the world who can better communicate in your local language.
XM Risk Disclosure
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
Trading Risk Disclaimer
Trading financial instruments such as foreign currency markets involves high risk and is unsuitable for everyone. When trading on leverage, the potential for loss is significantly higher than when dealing with just your funds. Risky trading leverage allows you to control larger positions with less capital, increasing both the potential for profit and loss.
You will be exposed to a high risk of loss regarding leverage and margin-based trading.
Furthermore, some off-exchange financial instruments and derivatives may offer varying leverage levels and may not be subject to the same regulatory protections as exchange-traded instruments. As a result, they may be subject to higher levels of market volatility and carry a higher degree of risk.
It is important to note that no investment product, technique, or strategy can guarantee profits, and past performance does not necessarily indicate future results. Any investment involves the possibility of financial loss, and it is important to carefully consider your investment objectives, risk tolerance, and financial situation before making any investment decisions.
Trading financial instruments is a high-risk activity that requires careful consideration and risk management. It is important to be aware of the potential for loss and to only invest what you can afford to lose.
XM not quite right?
If after reading this XM review, XM does not fulfill your needs check out these XM Alternatives.
Click here to view the best XM Alternatives
We have spent years researching the best alternatives to XM. Click the links below to learn more.
After extensive research over several years, we have compiled a list of the most effective XM alternatives available today. If you are unsatisfied with XM or want to explore other options, we recommend checking out our carefully curated list of highly-rated XM alternatives. Follow the links below to learn more about these XM broker alternatives and choose the one that best suits your trading needs.
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Related XM Vs Comparisons
Throughout our comprehensive XM review, we have covered a lot of ground and provided an in-depth analysis of the platform's features and functionality.
If you're interested in comparing XM against other popular brokers in the industry, check out our XM Vs pages. Our team has compiled a series of detailed XM comparison articles, pitting the XM platform against some of the best-rated XM competitors in the market. Dive into our informative XM Vs pages below to find out how XM stacks up against other leading brokers.
- XM vs ICMarkets
- XM vs Roboforex
- XM vs eToro
- XM vs XTB
- XM vs Pepperstone
- XM vs AvaTrade
- XM vs FPMarkets
- XM vs NordFX
- XM vs easyMarkets
- XM vs SpreadEx
- XM vs FxPro
- XM vs Plus500
- XM vs AdmiralMarkets
- XM vs ThinkMarkets
- XM vs FXPrimus
- XM vs Trading212
- XM vs ForexMart
- XM vs Eightcap
- XM vs ForTrade
- XM vs InteractiveBrokers
- XM vs Forex.com
- XM vs IG
- XM vs Robinhood
- XM vs Coinbase
- XM vs Binance
- XM vs ETXCapital
- XM vs CoreSpreads
- XM vs Oanda
XM review
XM Frequently Asked Questions
Read our detailed XM FAQ Section updated for 2024.
Can I try XM?
XM offer a demo account so you can try the XM platform with virtual trading before you put down a payment. Virtual trading with XM is zero risk. Learn more here
What funding methods do XM accept?
Please note that the list of payment methods below depends on the XM Entity and the client's Country of Residence.
XM offer the following funding payment methods Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Moneta, ABAQOOS, PRZELEWY24, Neteller, PerfectMoney, WebMoney, UnionPay, FasaPay, CashU, Payza, QIWI, SOFORT, Giropay, Payoneer, Skrill, among other payment methods.
Learn more here
Is XM safe?
XM have over 10,000,000 users. XM are considered reliable as they are regulated by and checked for conduct by the Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC). Any payments funded to XM accounts by traders are held in a segregated bank account. For added security,XM use tier-1 banks for this. Tier 1 is the official measure of a bank's financial health and strength.Trading with XM is risky, and because the market is so volatile, losses could happen at any time. Do not invest with XM unless you are prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
Is XM trading good?
XM is considered good and reputable to trade with XM. XM is used by over 10,000,000 traders and XM users. XM offers Forex trading, Stocks CFDs trading, Commodities CFDs trading, Equity Indices CFDs trading, Precious Metals CFDs trading, and Energies CFDs trading. Minimum deposit with XM is 5.
Is XM trading Legit?
XM was founded in Cyprus in 2009. XM has been facilitating trade on the financial markets for over 15 years. XM offers clients Forex trading, Stocks CFDs trading, Commodities CFDs trading, Equity Indices CFDs trading, Precious Metals CFDs trading, and Energies CFDs trading. All funds deposited to XM are held in segregated bank accounts for security. XM is regulated by Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) so can be considered legit.
Is XM a good broker?
XM allows Forex trading, Stocks CFDs trading, Commodities CFDs trading, Equity Indices CFDs trading, Precious Metals CFDs trading, and Energies CFDs trading. XM is overseen by the top tier financial regulators Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) so can be considered a good broker.
Is XM trustworthy broker?
XM is a reliable platform that can be considered trustworthy due to its strict regulatory practices. When you fund money to XM, money is in a segregated bank account that is separate from XM company's funds. As a regulated broker, XM cannot directly access your funds, which minimizes the risk of misappropriation or fraudulent activity by XM. Instead, your XM funds are held securely in a separate account designated for your investments, providing protection and peace of mind when trading with XM. Also XM is regulated in its local jurisdictions including major financial regulators like Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC).
What is the minimum deposit for XM?
The minimum deposit to trade with XM is 5.
How long do XM withdrawals take?
Withdrawing money from XM processing time varies depending on the method but averages 1-5 days.
Is XM regulated?
XM is regulated by the Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC). Regulatory bodies conduct regular reviews and audits as part of XM maintaining their regulatory status. You can learn more about these reviews on the regulator websites.
Is XM a market maker?
XM is a market maker. Stocks, currency and other commodities and instruments will be brought or sold by XM even if no buyer or seller is lined up.
How can I start trading with XM?
When opening a trading account with XM, you will need to sign up here. After completing the necessary steps of receiving login details via email, submitting identification documents for account validation, and making a deposit, the next step is downloading the preferred trading platform. For detailed guidance on XM trading platforms, you can follow the link provided below: Learn more about signing up with the XM trading platform here. This will provide useful information and insights into the various trading platforms offered by XM, enabling you to make an informed decision about which platform to choose for your trading needs.
Is my money safe with XM?
Yes your money is safe with XM.
Overall, strict financial regulation is essential for ensuring that trading platforms like XM operate fairly, transparently, and responsibly, which ultimately benefits all XM stakeholders involved.
Trading platforms like XM must have strict financial regulation for several reasons:
- Protecting XM Investors: Strict financial regulation ensures that investors who use the XM trading platform are protected against fraudulent or unethical behavior by the XM platform or its employees. Financial regulation can help to prevent investors from losing their money due to dishonest practices by the XM platform.
- Maintaining XM Financial Stability: Strict regulation helps maintain the financial system's stability by preventing excessive risk-taking when using the XM trading platform. Regulatory procedures reduce the likelihood of the XM platform experiencing financial difficulties or failing, which could have ripple effects throughout the financial system.
- Enhancing XM Transparency: Regulations require trading platforms like XM to maintain detailed records and disclose XM client information. Financial regulatory requirements enhances transparency and helps to build trust between the XM platform and its investors.
XM is regulated by the Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC). When selecting a broker such as XM, one of the most critical factors to consider is the broker's regulatory body and regulatory status. Unregulated brokers pose a direct risk to the security of their client's funds, as they operate without any oversight or regulation. In contrast, regulated brokers are subject to strict rules and regulations that prevent them from manipulating market prices or engaging in fraudulent activities. As a reputable broker, XM ensures that withdrawal requests are processed promptly, demonstrating its commitment to transparency and accountability. However, brokers that violate regulatory rules can face the consequences such as losing their regulatory status in specific regions, highlighting the importance of working with a trusted, regulated broker for your trading needs like XM.
Is XM a con?
XM is regulated and well established, having been in business for over 15 years. XM is not a con.
Can you make money with XM?
Although traders have had great success with XM, trading on the financial markets with XM is not a get-rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading, your chance of success will greatly increase. Never trade with money you cannot afford to lose. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.89% 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.
Does XM have fees?
XM doesn't charge withdrawal fees. XM does charge a fee for inactive accounts. XM doesn't charge deposit fees.
When was XM founded?
XM was founded in 2009.
How many people use XM?
XM is used by over 10,000,000 registered XM users.
What is XM Headquarters country?
XM has its head quarters office in Cyprus .
Does XM offer negative balance protection?
XM offers negative balance protection. With Negative balance protection, traders cannot lose more money than they have deposited.
Does XM offer guaranteed stop loss?
XM does not offer guaranteed stop loss.
Does XM allow scalping?
XM offers scalping.
Does XM allow hedging?
XM offers hedging.
Does XM offer CFD trading?
XM offers CFD trading.
Does XM offer STP?
XM does not offer STP trading.
How many people use XM?
XM is used by over 10000000 XM users and traders.
Is XM an ECN broker?
XM does not offer ECN trading.
Does XM offer a demo account?
XM offers a demo account.
Does XM offer an Islamic account?
XM offers an Islamic account.
What are the funding methods for XM?
Please note that funding methods and options available with XM can be found in the XM Members area and depend on the XM client’s country of residence. Please check your specific available payment methods on the XM website. XM accept the following funding methods : Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Moneta, ABAQOOS, PRZELEWY24, Neteller, PerfectMoney, WebMoney, UnionPay, FasaPay, CashU, Payza, QIWI, SOFORT, Giropay, Payoneer, Skrill.
XM review written by Andrew Blumer and Mark Hansen
