XM Review 2019

XM Rated 4/5

XM Introduction

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

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of XM we break down the pros and cons. What XM are able to offer, what countries XM are available in. Who XM are regulated by and more.

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.

Benefits of trading with XM

  • Regulated by: Financial Conduct Authority, CySEC, and ASIC
  • Headquarters Country : Cyprus
  • Foundation year 2009
  • Min Deposit : 5
  • Used by over 70,000 traders
  • XM is not available in the following countries : US, CA, IL, BE, KR, IR, MM, CU, SD, SY
Open XM's Website

Your capital is at risk

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

With this 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 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 10 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 Conduct Authority, CySEC, and 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.

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.

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.

What we like about XM

  • Used by over 70,000 traders
  • Established in 2009
  • Regulated by Financial Conduct Authority, CySEC, and ASIC
  • Min. deposit from $5

What we don't like about XM

XM General Fees

  • XM doesn't charge withdrawal fees
  • XM does charge inactivity fees
  • XM doesn't charge deposit fees

XM Commissions

  • XM doesn't charge commission on CFD shares.

What can you trade with XM?

You can trade a wide variety of instruments with XM over 100 instruments infact.

If you are looking at trading currency pairs XM offer over 80 currency pairs.

Compare XM with XTB and Plus500 below.

Your capital is at risk

FX / Currencies XM XTB Plus500
Forex pairs offered 80 50 100
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs XM XTB Plus500
Commodities offered 15 21 17
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Indiced & Stock CFDs XM XTB Plus500
Stocks offered 160 1696 1816
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
XM
Instruments
XTB
Instruments
Plus500
Instruments

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

XM Trading benefits :

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

XM Trading Accounts Offered :

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • 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

What funding and withdrawl methods do XM accept?

XM offer the below funding payment methods. learn more about XM

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller
  • UnionPay

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.

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.

As a nice bonus, 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 trader, accounts and 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.

Education resources at XM

To trade effectively with XM, it's important to get a have a good understanding of the XTB trading tools and the markets.

XM offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing 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.

Support at XM

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 over three languages,

What you will need to open an account with XM

As XM is regulated by Financial Conduct Authority, CySEC, and 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:

  • 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 10 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 their website 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 12th August 2018.

Watch this XM Video

XM not quite right?

Check out these 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 Comparisons

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 some indepth XM VS pages below.

XM Frequently Asked Questions

Can I try XM before I buy?

XM offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do XM accept?

XM offer the following funding payment methods accept Credit cards, Bank Transfers, Payoneer, Neteller, Wire Transfer, among other payment methods.
Learn more here

Your capital is at risk

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 Financial Conduct Authority, CySEC, and 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.