XM Rated 4/5

XM Guide - Read our In Depth 2021 XM Review

XM is a global highly regulated global online trading platform serving over 3 million traders worldwide. XM offers 16 feature rich trading platforms with very fast order execution speeds with no rejections or requotes. XM are known for their low spreads and commission fees and scalping and hedging is allowed with XM. Negative balance protection is also enabled for XM traders. Available in over 30 languages the XM mobile and desktop trading platforms are very accessible.

This XM review was written by industry experts with over 20 years of financial experience in Forex, CFDs.
The content in this XM review does not apply to US users.

Benefits of Trading with XM

XM Review 2021 Quick Summary
💰 Min Deposit 5
👱‍♂️ Used By 3,500,000 XM users and traders
📆 Founded 2009
🌍 HQ Cyprus
👮‍♂️ Regulation International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
🚫 Excluded Countries XM is not available in the following countries : US, CA, IL, KR, IR, MM, CU, SD, SY, PT

Open XM's Website

Your capital is at risk

What is XM?

XM are a global online financial trading platform and multi asset broker founded in 2009

Over 12 years later XM has grown to offering retail investors Forex trading, and CFDs trading.

XM are a global broker. XM have a head office in Cyprus.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

We will dive deep in this XM review and assess how well the XM platform functions in its role as an international multiple financial asset trading platform for traders in 2021.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. Choosing an online broker like XM can be difficult. For a beginner, the first few hurdles can come in the form of what appears to be a complex mobile or online trading platform, hard to understand investment terminology and confusing fee structures. In our review of XM we breakdown the pros and cons. What XM are able to offer, what countries XM are available in. Who XM are regulated by and more.

XM Review Screenshot

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

This is why we have taken the time to review only the best brokerage firms, their practices, their fee structure and all other important aspects. We want you to evaluate and analyse and trust your hard-earned cash with only the safest and best of brokers. We hope you find this XM review useful.

This review of the XM platform is very detailed. If you are interested in trading with XM in any capacity please take the time to read and research the whole XM review.

We have tried to explain the ins and outs of financial trading through the XM platform as plainly as possible so that you the trader are as informed as possible before you start to use the XM trading tools and depositing and withdrawing funds from XM.

Investing online can be just as risky as any other kind of offline investment. As with any investment, it is important to know and research the company you are dealing with. When trading financial assets with XM like Forex trading, and CFDs trading. you should have confidence in XM and know that the management of your financial investments on the XM platform are in good hands.

At the bottom of this XM review you can also learn about some pretty good alternatives to XM

With this XM review we hope to help you see if XM is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding XM that will help you get off to a good start in the world of online trading.

XM Review Table of Contents

XM review
XM is a Multi-Assets Trading Platform with over 1000+ Assets

Learn more about XM. XM is a multi asset platform with 1000+ tradable Assets. Assets available on XM include Forex, CFDs.

XM trades in multiple financial asset types. An asset in financial investment, is any security or asset, tangible or intangible, that has a financial value attached. This means that Forex, CFDs are considered financial assets.

Features of XM

XM review
What you should know

XM offer two ways to trade: Forex, CFDs.

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 choosing a broker like XM the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2009, and in operation for 12 years XM have a head office in Cyprus.

XM is regulated. This means XM are supervised by and is checked for conduct by the International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to XM, this will be honored. If XM violate any regulatory rules their regulated status could be stripped.

Your capital is at risk

Is my money safe with XM?

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 banks financial health and strength.

What are Tier 1 banks and why should XM use them?

A Tier 1 bank is considered the safest and most secure regarding client capital. Tier 1 is actually a term describing the financial strength of a bank. A Tier 1 bank has strong core capital reserves and financial regulators utilize tier one banks because they are able to withstand unexpected financial losses.

What does it mean to have your funds in XM deposited in a Tier 1 bank?

Having any money you deposit with XM means that your funds are safe in a bank that has enough capital to accommodate your withdrawal wishes even if XM goes out of business for some reason.

Therefore, we can safely conclude that XM is secure and safe.

That said, please note that you can lose funds when trading in financial assets. Accounts can lose money due to either not putting enough effort into researching the markets, lack of experience or not using the tools provided by the brokerage platform.

While trading in financial investments, losing money rapidly due to trading Forex, CFDs is not uncommon. Only take the risk of trading when you understand that your invested capital is at risk any time due to market volatility. XM also clearly state on their platform that Your capital is at risk.

Now that we have answered some important questions regrding XM. let us look at the XM features in more detail.

Try creating two accounts when you are working with XM. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit XM

Your capital is at risk

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 eToro IC Markets XTB
Year Established 2009 2007 2007 2002
Head Office Cyprus Cyprus, UK Australia Poland
Regulation International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG)
Used By 3,500,000+ XM users 20,000,000+ eToro users 180,000+ IC Markets users 250,000+ XTB users
Negative balance protection Yes Yes Yes Yes
Guaranteed Stop Loss No No No No
Learn More Visit XM Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 79% 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 review
XM Pros and Cons

What we like about XM

  • Used by over 3,500,000 XM users and traders
  • Established in 2009
  • Regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
  • Min. deposit from $5

What we don't like about XM

XM review
XM Regulation and Licensing in more detail

We have checked and XM is regulated and supervised by reputable organisations. You are able to check every XM supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with XM. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria for license approval, this is determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect XM traders and provide a safe trading environment. Financial regulation and license approval is essential.

XM is regulated, governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as XM you should be sure they're legitimate online agent.

Is XM Global?

Yes, XM is global as XM is available in over 186 countries.

XM is a global trading platform in the sense that it operates in 186 nations including nations in Europe, Asia, Oceania, and Africa. Major countries XM covers include the UK, Germany, Australia, South Africa, Thailand, and China. XM has a total of more than 3,500,000 users. Commendable figures from XM.

XM review
XM Awards

XM have won numerious industry awards over the 12 years they have been operating as a financial broker. We list the most notible awards and mentions for XM below.

  • Global Forex Awards Global Forex Broker of the Year 2019
  • Global Forex Awards Most Trusted Asian Forex Broker 2019
  • FinTech Age Awards Best Broker 2019
  • World Finance Magazine Best FX Broker for Australasia 2019
  • World Finance Magazine Best FX Broker for Europe 2019
  • Capital Finance International Magazine Best Customer Service Global 2019
  • Capital Finance International Magazine Best Market Research and Education Global 2019
  • Awarded by City of London Wealth Management Awards Best FX Service Provider 2019
  • Shares Magazine Best Forex Customer Service 2018
  • Egypt Economic Forum Best International Broker in the MENA Region 2018
  • Brokers Billboard Best Local Customer Service 2016

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.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How XM Fees Compare Against Other Brokers

Broker XM eToro IC Markets XTB
Min Deposit 5 200 200 0
Withdrawal Fees No Yes No varies
Inactivity Fees Yes Yes No No
Deposit Fees No No Varies No
CFD Commission Fees No No Yes Yes

XM Minimum Deposit

XM require a minimum desposit of 5 GBP/USD 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.

Dont be scared off by brokers like XM charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

XM Withdrawal Fees

XM doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your recieving currency, your payment provider.

XM Group is accepting Multiple Local Payment Methods including Credit / Debit Card, Skrill, Bank Wire Transfer, etc.

XM Inactivity Fees

XM does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

XM Desposit Fees

XM does not charge deposit fees.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

XM Commission Fees

XM does not charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

XM review
What can you trade with XM?

Be aware that Different entities under XM Brand offer different trading instruments due to regulatory restrictions. Trading instruments offered may differ based on the country of residence of the Client.

You can trade a wide variety of instruments with XM over 1000 instruments infact.

If you are looking for Forex brokers to trade currency pairs on global Forex markets XM offer over 80 currency pairs.

Compare XM with eToro and IC Markets below.

Your capital is at risk

How XM Trading Options Compare Against Other Brokers

Broker XM eToro IC Markets XTB
Instruments Available 1000 2000 232 4000
Platforms MT4, MT5, Mac, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
FX / Currencies        
Forex pairs offered 80 50 65 57
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 Yes Yes
Commodity CFDs        
Commodities Offered 15 31 19 21
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs        
Stocks Offered 160 2042 110 1696
UK Shares No Yes No Yes
US Shares No Yes Yes Yes
German Shares Yes Yes Yes Yes
Japanese Shares Yes Yes Yes Yes
Risk Warning Visit XM
Your capital is at risk
Visit eToro
67% of retail investor accounts lose money when trading CFDs with this provider.
Visit IC Markets
Losses can exceed deposits
Visit XTB
79% 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 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.

An 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 making it easier to keep an eye on and execute your trades while you’re on the move.

See XM's platforms

Is the XM Trading Platform Secure?

XM safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. XM also urges its clients through its web platform to always look for the SSL security sign (a lock sign) o the browser while operating XM.

XM Trading Platform Options

Once you have logged into your XM account you will see the below trading platform options available to you.

  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)

XM does not offer the cTrader trading platform. You can find a broker that supports cTrader here

Lets explore each of these trading platforms in detail and what options XM gives you.

XM review
XM MetaTrader 4 (MT4)

XM MetaTrader 4

MetaTrader 4 also known as MT4 is the number one trading platform on the planet and has been in active use on financial markets since 2005. The MetaTrader 4 software delivers a feature-rich, user-friendly interface and an extremely customisable trading environment, designed to ful fill all of your trading needs and boost your trading performance. Charting functionality and advanced order management tools make certain you could monitor your positions quickly and economically.

Understand that the MetaTrader 4 (MT4) trading platform was developed primarily to trade Forex but you can also trade other types of financial instruments through CFDs and Spread Betting. You will not be able to trade Stocks, Indices, Commodities, ETFs, Futures on any MetaTrader 4 (MT4) platform unless they are CFD contracts or Spread bets. You will not own any underlying assets with CFDs or Spread bets as you are speculating on price movements with XM. You can learn more about the MT4 Platform 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 PC's and Apple Macintosh computers. XM MetaTrader 4 is compatible with the latest macOS Mojave. XM allows traders to trade on mobile devices through Android and IOS devices like the iPhone.

Metatrader 4 Webtrader on XM

MetaTrader 4 is the most popular trading platform in the world as most and more traders begin to trade online Metatrader 4 is available as a web based application available through your web browser. MetaTrader 4 web software provides the same easy to use performance as the desktop version using advanced charting, a highly customisable trading environment, easy to access online trading tools and many different indicators. You can enjoy our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.

Trade XM MetaTrader 4 on IOS Devices

You can download the XM app or also trade with XM through the MetaTrader 4 application on the Apple app store.

Download the Metaquotes MetaTrader 4 Program for free of charge from Apple's App Store. IC Markets customers have instant access to this Financial markets, with the ability to completely manage a Portfolio on the go.

Trade XM MetaTrader 4 on Android Devices

Andorid mobile devices and tablets are used by millions of people globally. XM provides its clients access to the MetaTrader 4 platform on Android supported devices so that customers can monitor the financial marketplace and trade directly from their Android-based Smartphones and tablets. The Android XM MetaTrader 4 Android application enable traders to make the most of multiple advanced trading features which enables them to monitor and trade Forex quickly on the go, simply and securely.

Trade XM MetaTrader 4 Trading Central

Trading Centrals Alpha Generation Indicators is a Bundle of three Major indicators including:

  • Analyst Perspectives - A go-to resource for leadership and key levels.
  • Adaptive Candlesticks - Identifies chart patterns which illustrate important changes in demand and supply.
  • Adaptive Divergence Convergence (ADC) - Much like MACD however useful at shorter lengths and provides more timely signs.

XM MetaTrader 4 Advanced Trading Tools

The XM advanced trading tools for MetaTrader 4 are aimed at improving the total trading experience and providing traders with a competitive advantage. XM offers access to 20 exclusive tools which includes feature rich trade execution & management programs, sophisticated notification alarms, messaging facilities, innovative market data & more.

Trade XM MetaTrader 4 MultiTerminal

MetaTrader 4 MultiTerminal provides a intuitive easy to use dashboard where traders can administer and supervise several trading accounts. MultiTerminal will let you manage over 100 Accounts simultaneously allowing you to place market orders, pending orders, view live market prices and track all accounts and equity at real time. All Trading accounts must be in on the same MetaTrader server. MultiTerminal doesn't support Automated Trading scripts like Expert Advisors.

XM MetaTrader 4 & MetaTrader 5 AutoChartist

XM Autochartist provides the world's first Market Scanner available for MT4 & MT5 using a non-trading Expert Advisor script. Scan markets for trading opportunities while viewing all symbols and time intervals from a single graph. Gone are the days of launching a lot of graphs on which you can't remember which currency you're taking a look at. Autochartist offers a simple user interface that can be customized to suite how you like to trade.

XM review
XM MetaTrader 5 (MT5)

XM MetaTrader 5

MetaTrader 5 also known as MT5 is a multi asset trading platform that provides a wide range of trading features and financial research tools, MT5 also allows the use of automated trading systems (trading robots) and copy trading. New features like additional timeframes and advanced charting tools can give you a competitive advantage in the financial markets.

MetaTrader 5 was released in 2010 and is the updated version of MetaTrader 4.

MetaTrader 4 was built specifically to trade Forex and CFDs, MetaTrader 5 on the other hand facilitates trading of Forex, Futures, Stocks, Algorithmic Trading, ETFs and Indices.

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. It features a huge 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 analyse the financial markets.

XM review
XM MT5 Buying and Selling

IC Markets MetaTrader 5 Buying and Selling

XM MetaTrader 5 on IOS Devices

XM MetaTrader 5 Can Operate on the and newer IOS devices like the iPhone and iPad. MetaTrader 5 requires a mobile internet connection or a connection to Wi-Fi. It's suggested that you 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

MetaTrader 5 for Android may be used on a Android smartphone or a tablet powered by the Android 5.0 or higher operating system. Additionally, to connect to XM trading server. Take the time to understand all of the Android MetaTrader 5 features. With Metatrader 5 for Android you can trade a selection of financial instruments at any time, in any place.

XM Metatrader Mobile Application Features

MetaQuotes the developers of Metatrader have listened to the feedback of their millions of users and have built the most popular mobile trading platform in the world. MetaTrader features include :

  • Financial instrument quotes
  • View in depth price charts of financial instruments
  • Manage trades and open positions
  • View your trading history
  • View market news
  • MetaTrader internal messaging
  • View and research market statics of XM financial instruments
  • Position opening and closing
  • Lookup symbols in the quotes section
  • Display of deals on graphs
  • Timeframe selection for graphs and charts
  • Additional vertical scaling of graphs
  • Capability to transfer 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

XM MetaTrader 5 Advanced Trading Tools

XM MetaTrader 5 has many advanced trading tools for the more advanced users. Understanding these tools can give you a competitive edge.

  • Depth of market bids and asks
  • Price Data
  • Margin Calculation, Futures, Forex
  • Advanced Techincal Analysis
  • One click trading
  • Spreads
  • Futures
  • Trading Reports

XM Trading benefits

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

XM Trading Accounts Offered

Below we give an overview on 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.

  • Demo account
  • Micro account
  • Standard account
  • XM Zero *XM Ultra Low and XM Zero Accounts are not applicableto all the entities of the Group.
  • Islamic account

Can I try XM before I buy?

XM offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

XM withdrawal and funding methods

Please note that the list of XM payment methods below depend on the XM Entity and the Clients Country of Residence.

All available XM payment methods available to you can be found in your XM members area checked on the XM website.

XM offer multiple local payment methods. learn more about XM

XM Payment Methods

  • XM accepts Credit cards
  • XM accepts Debit cards
  • XM accepts Bank Transfer
  • XM accepts Electronic wallets (eWallets)
  • XM accepts Moneta
  • XM accepts ABAQOOS
  • XM accepts PRZELEWY24
  • XM accepts Neteller
  • XM accepts PerfectMoney
  • XM accepts WebMoney
  • XM accepts UnionPay
  • XM accepts FasaPay
  • XM accepts CashU
  • XM accepts Payza
  • XM accepts QIWI
  • XM accepts SOFORT
  • XM accepts Giropay
  • XM accepts Payoneer
  • XM accepts Skrill
Broker XM eToro IC Markets XTB
Bank transfer Yes Yes Yes Yes
Credit Cards Yes Yes Yes Yes
Paypal No Yes Yes Yes
Skrill Yes Yes Yes Yes
Payoneer Yes Yes No Yes
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?

When opening a trading account with XM, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on XM trading platforms here. You will need to provide some basic documentation to prove your identity as part of XM onboarding and normal KYC identity checks. These checks are standard practice and help XM provide a safe financial environment for their 3,500,000 users.

Your capital is at risk

Performing trades with XM

XM allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. XM allow you to execute a maxium trade of 50 Lot.

As a market maker, XM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

XM are one of very few brokers that claim to have no requotes, so you don't have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the instruments.

XM also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders, negative balance protection, price alerts, and much more. You can see all of the account features offered by XM here.

CFD Trading on XM

let's take a look at some of the basics of using XM leverage.

XM offer CFD which are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

XM leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the XM trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The XM leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

XM CFDs are typically used for short to medium term trades. For example XM intraday CFD trading. Although high risk because CFD trades are separate from the financial markets, a CFD trade can be more flexible than a traditional market trade where you own the underlying asset. CFD trades give access to CFD fractional shares, CFD international markets and CFD short selling. More advanced traders can also use CFDs to hedge.

Always be aware that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Your capital is at risk

Limiting Your Risk When Trading with XM Negative Balance Protection

We should say something about negative balance protection with XM. When trading using leverage an adverse move could result in losing more than your trading account balance at XM. Your XM account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Limit Risk When Trading with XM Stop Loss, XM Stop Limit Orders

A stop-loss order is an order placed with a broker like XM to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at XM

To trade effectively with XM, it's important to get a have a good understanding of the XM trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with XM and externally.

XM offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy and sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with XM.

Take time to look around the XM platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at XM

As part of our XM review we review customer service options, response times and XM trading platform problem resolution effectiveness.XM support a wide range of languages including Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish.

XM have a double AA grade support rating because XM offer live chat and email support in multiple languages.

Livechat Support at XM

We tested the XM live chat and it works well. We sent messages to XM livechat through their app and website and recieved a response within 30 seconds.

We tested communicating with XM support in multiple languages in multiple countries. XM where able to quickly resolve our customer issues.

Email Support at XM

We sent several emails to XM and answer times overall were excellent. The fastest response from XM was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with XM, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from XM.

Phone Support at XM

We called XM and the call was answered very quickly. The call was answered in less than 5 minutes.

The XM phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual XM team by calling in varying languages. XM made an effort to make sure our queries were answered.

Overall great phone support from XM.

See how XM Support Compares Against Other Brokers

Broker XM eToro IC Markets XTB
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish English, German, Spanish, French, Italian English, Japanese, Chinese, Polish, Afrikans, Danish, Dutch, German and more English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish
Learn More Visit XM Visit eToro Visit IC Markets Visit XTB
Risk Warning Your capital is at risk 67% of retail investor accounts lose money when trading CFDs with this provider. Losses can exceed deposits 79% 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.

What you will need to open an account with XM

As XM is regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under XM Brand may be different.

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore XM's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with XM you can visit the XM trading platform here.

CFDs are leveraged products and can result in the loss of your 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 as investment advice. All information collected from https://www.xm.com on April 20, 2021.

Watch this XM Explainer Video

Is XM A Good Broker?

We spent over 3 months 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, CFDs.
  • XM has a history of over 12 years.
  • XM has a reasonable sized customer support of at least 10.
  • XM are regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC). This means XM fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • XM have regulation from a Tier 1 reputable country.
  • XM has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • XM have an international presence in multiple countries. This includes local XM seminars and training.
  • XM are able to hire people from various locations in the world who can better communicate in your local language.

XM Risk Disclosure

Your capital is at risk

Trading Risk Disclaimer

Trading financial instruments including crpytocurrency and foreign currency markets come with a very high level of risk. In regards to leverage and margin based trading you will be exposed to a high risk of loss. Some financial instruments and derivatives that are off exchange may offer varying leverage and may have limited regulatory protection and high market volatility. It should never be presumed that any investment products, techniques, indicators or any other presented resources will result in profits. You should be aware that investing may result in financial loss.

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.

If you feel some of the above XM are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of XM alternatives below.

Related XM Vs Comparisons

We have covered allot in this XM review, If you want to see how XM compares side by side with other brokers check out our XM Vs pages.

If you would like to see how XM stands up against other brokers you can read some of our XM comparisons below. We compare side by side some of our top rated XM versus comparisons. Read our indepth XM VS pages below.

XM review
XM Frequently Asked Questions

Read our detailed XM FAQ Section updated for 2021.

Can I try XM before I buy?

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 depend on the XM Entity and the Clients 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

Your capital is at risk

Is XM safe?

XM are considered safe as they are regulated by and checked for conduct by the International Financial Services Commission (IFSC), 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 banks financial health and strength.

Your capital is at risk

Is XM trading good?

XM is considered good and reputable to trade with XM. XM is used by over 3,500,000 active traders and XM users. XM offers Forex trading, and 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 12 years. XM offers clients Forex trading, and CFDs trading. All funds deposited to XM are held in segregated tier 1 bank accounts for security. XM is regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) so can be considered legit.

Is XM a good broker?

XM is overseen by the top tier financial regulators International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) so can be considered a good broker. XM allows Forex trading, and CFDs trading.

Is XM trustworthy broker?

XM can be considered trustworthy. All money funded to XM is placed into a segregated tier 1 bank account. this means your money in not held by XM directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also XM is regulated by International Financial Services Commission (IFSC), 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 but averages 2-5 days.

Is XM regulated?

XM is regulated by International Financial Services Commission (IFSC), 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 purchased by XM even if no buyer is lined up.

How can I start trading with XM?

When opening a trading account with XM, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on XM trading platforms here.

Is my money safe with XM?

XM is regulated by International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC). One of the most important criteria for traders when choosing a broker like XM is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to XM, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is XM a con?

XM is regulated and well established having been in business for over 12 years. XM is definitely 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. Your capital is at risk.

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 3,500,000 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 means 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 3500000 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 a Islamic accounts.

What are the funding methods for XM?

Please note that funding methods and funding 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

We hope you found our review of the XM brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

XM review written by Mark Hansen of Comparebrokers.co