77.74% of retail investor accounts lose money when trading CFDs with this provider.
XM Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- from $5
- MT4
- MT5
- XM App
- ASIC
- FSC
- CySEC
- DFSA
- 2009
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- from $5
- MT4
- MT5
- XM App
- ASIC
- FSC
- CySEC
- DFSA
- 2009
Our Evaluation of XM Group
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
XM Group is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by XM Group clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
XM Broker is a broker for professional trading. Trading conditions correspond to the average market; there are technical advantages that distinguish XM Broker from its competitors.
Brief Look at XM Group
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted more than 5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders. XM Profile Details
- XM Broker guarantees 100% execution of orders, 99,35% of orders delivered nearly instantly. No requotes guaranteed;
- no “markup” on narrow market spreads (broker's margins over the spread);
- over 1,000 trading instruments. Available for trading are: more than 55 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), stocks;
- no commission for replenishment and withdrawal of money. XM Broker incurs all commission costs of payment systems;
- around the clock support for 5 days a week in more than 30 languages.
- passive investment services (social trading platform, PAMM accounts);
- expanding their limited choice of trading platforms. Despite the fact that the broker offers 16 terminals, all of them are modifications of MT4 and MT5 for desktop, browser and mobile trading.
TU Expert Advice
Financial expert and analyst at Traders Union
XM Broker can be safely recommended to those who are interested in professional trading with high order processing speed and optimal level of commission. The first thing worth noting is that it has licenses of four leading regulators in the world simultaneously. These are ASIC (Australia, ACN:164 367 113), FSC (Belize, 000261/397), CySEC (Cyprus, 120/10), DFSA (UAE, F003484).
The second moment is the types of accounts. The broker guarantees the same quality of execution for all types of accounts, which means a minimum of requotes, slippages and instant overlap of orders with counterparty counter transactions. The level of leverage complies with the European standards (including the MiFID directive that all CySEC licensees work in accordance with). There is an average market spread. The maximum leverage for clients registered under the EU regulated entity of the XM Group is 30:1.
Attractive trading conditions for novice traders are also worth noting. The minimum deposit is 5 US dollars; there are cent (micro) accounts with a lot equal to 1,000 units. Thanks to its elaborated service and high-tech platforms, XM Broker is rightfully one of the best companies in the Traders Union rating.
- Platform reliability is of utmost importance to you. The broker has been in the market for many years, operating in 190 countries, and is regulated by three organizations: FSA, ASIC, and CySec.
- You are willing to learn while trading. XM Group is one of the few brokers that not only provides basic educational materials on its website but also regularly conducts webinars and even offline meetings in 120 cities worldwide.
- You do not use MT platforms. This is a common issue with many brokers as they typically support MetaTrader 4 or MetaTrader 5, and rarely offer trading through cTrader, RTrader, or other platforms. XM Group also offers the traditional options..
We checked the office of the XM Group brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
Richard I & Berengaria Of Navarre, Limassol 3042, Cyprus
-
The company is located at the stated address
-
We were able to speak to a company representative
-
We were able to visit the office as clients
-
Video of the company’s office
-
XM Group Summary
Your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs with this provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
💻 Trading platform: | МТ4, МТ5 (desktop, web, and mobile versions), and XM App for smartphones and tablets |
---|---|
📊 Accounts: | Micro Account, Standard Account, XM Ultra Low Account |
💰 Account currency: | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR |
💵 Replenishment / Withdrawal: | Credit/ Debit cards, Skrill, Neteller, International Wire Transfer, Online Bank Transfer, Perfect Money, Apple Pay and Google Pay |
🚀 Minimum deposit: | $5 |
⚖️ Leverage: | 1:30 (only for EU regulated Entity and AU). For all the other countries - 1:1000. |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0,1 lot for Micro and 0,01 lot for Standard and XM Ultra Low |
💱 Spread: | From 0.6 pips |
🔧 Instruments: | Currencies, stocks, commodities, stock indices, precious metals, and energies |
💹 Margin Call / Stop Out: | 100%/50% |
🏛 Liquidity provider: | n/a |
📱 Mobile trading: | Yes |
➕ Affiliate program: | Yes |
📋 Orders execution: | Market Execution, Instant Execution |
⭐ Trading features: | There are Islamic accounts; It is possible to connect to the MQL5 trading services. |
🎁 Contests and bonuses: | Up to 100% Deposit bonus (Not available to the EU Entity of XM) |
Trading conditions of XM Broker are ideal for both novice traders and professionals. There are cent, standard and ultra low spreads accounts, loyal minimum deposit requirements, leverage as provided by requirements of the European regulators. To test strategies, get acquainted with the functionality of platforms, mobile app and test their potential, a demo account is provided.
The broker is a market maker in the international financial market. This means that XM Group has direct access to liquidity and can provide traders with the best quotes. Spreads on Ultra accounts are from 0.6 pips. The company guarantees an almost complete absence of slippage regardless of market volatility level and a competitive market spread in moments of sudden price movements.
Learn More about XM allow scalpingXM Group Key Parameters Evaluation
Trading Account Opening
You can start working with XM Broker by opening a real or demo account, for which you need to click one of the buttons on the broker's main page. The initial deposit amount of the demo account is 100,000 US dollars, but after its opening, you get access only to the platform. To gain access to your Personal Account, registration of a real account is required.
Fill out the registration form: Name and surname, country/city, phone, email. Be sure to indicate the platform and type of account. Data is entered in Latin letters.
The account number, which is your login, will be sent to the indicated email address. In the future, you will need to download the platform from the broker's website and tie this account to it. Having received the data, we enter the Personal Account. Please note that registration takes 10 minutes and provides only the opportunity to get acquainted with the functionality of the Personal Account. For further registration and subsequent trading, you need to go through verification.
The following options are available in the Personal Account:
-
Replenishment and withdrawal of money.
-
Correction of personal account data. In the Account menu you can change the leverage, view the history of transactions (including monitoring data on positions that are still open), view the history of replenishment, transactions.
There are also many other useful functions and features:
-
Changing the password and going through two-step authentication.
-
Request for using a VPS server (available only after verification).
-
Access to trading signals, customer service, to the Invite a friend affiliate program.
XM Group - How to open, deposit and verify a trading account | Firsthand experience of Traders Union
Regulation and Safety
Information
XM Broker is licensed by four leading global regulators: ASIC (Australia), FSC (Belize), CySEC (Cyprus), DFSA (UAE). The CySEC license means that the broker operates in the European legal field regulated by the MiFID directive I and II. All customer accounts are separated from brokerage accounts for operating activities and are in the European banks.
Advantages
- There are segregated accounts
- Protection from negative balance is provided
- There is a technology of Personal accounts and account protection from unauthorized access
Disadvantages
- Submission of claims to the regulator for small amounts does not make sense due to subsequent financial and time costs
Commissions & Fees
Account type | Spread (minimum value) | Withdrawal commission |
---|---|---|
XM Ultra Low Micro | From 6 USD | No |
XM Ultra Low Standard | From 6 USD | No |
There are no hidden commissions; there are no commissions for replenishment and withdrawal of money. There is a floating commission for shifting transactions to the next day (swap) - the size depends on the market situation.
Besides, the Traders Union analysts prepared a comparative analysis of the main commissions of XM Broker with the similar commissions of competitors and conducted a comparative assessment.
Average spreads for the EUR/USD pair on standard accounts with a trade volume of 1 full standard lot were compared.
Broker | Average commission | Level |
---|---|---|
|
$6 | |
|
$1 | |
|
$8.5 |
Account Types
XM Broker has several types of accounts:
You can get acquainted with the potential of XM Broker by opening a demo-account.
Withdrawal Options and Fees
-
Payment methods include Visa and MasterCard bank cards, Skrill, Neteller, and International Wire Transfer. Available methods may vary. Current options can be found in a corresponding section of the user account.
-
The time for processing a request is 24 hours, withdrawal time is in accordance with the technical capabilities of payment systems (up to 5 business days). The number of requests is unlimited. The withdrawal currency corresponds to the deposit currency; in case of a discrepancy, the broker automatically converts it at the average exchange rate.
-
There are no commissions for withdrawing and replenishing funds. Exception: commissions charged by banks for replenishment / withdrawal of amounts over 200 US dollars or equivalent.
Investment Options
XM Broker broker is focused on providing professional trading services, because its policy does not provide for passive investment programs. However, as an aid to active traders, the company provides several support services, which are worth considering in more detail.
MQL5 Trading Signals
MQL5 is a community of traders from all over the world located on the platform of MetaQuotes company, the developer of Metatrader platforms. XM Broker offers direct access to MQL5 trading signals from traders with productive trading for more than 1 month. In addition, traders get direct access to the programming environment directly from within the broker's trading terminals. Learn More about XM Copy Trading
Advantages of MQL5 signal copy service:
-
automatic copy trading from MQL5 website (there is an option of manual copying);
-
signals can be combined with algorithmic trading (creating advisors based on MQL5 signals using a program code inside the platform);
-
copy service is already built into Metatrader.
Disadvantage: signals are provided for 1 month, after which the question about paying for a subscription appears. One trading account can be subscribed to only one signal provider.
Important!
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
XM Broker affiliate program
XM Broker offers only one variant of affiliate program with the following conditions:
The broker offers one type of partnership program, which implies a one-time reward of $450-$650 subject to the country of each invited trader.
Advantages of XM Group:
Marketing support. More than 20 banner options in 25 languages, click tracking links, and ready-made websites and landing pages are available;
A separate partner’s user account that provides for tracking statistics and conversion for each of the created campaigns by country, age category, etc.;
Personal account managers and weekly payouts.
For more information on conditions of the partnership program, contact the support service.
Customer Support
Information
Customer service is available to each user around the clock 5 days a week (except holidays).
Advantages
- There is an online chat and telephone support
- More than 30 languages
Disadvantages
- Does not work on days off
Communication with customer service:
-
Social media and instant messengers;
-
e-mail (look for the e-mail address according to your country at the broker’s site);
-
telephone.
Before contacting customer service, look in the Questions and Answers section - maybe the information you are interested in is already there.
Contacts
Foundation date | 2009 |
---|---|
Registration address | 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus. |
Regulation | ASIC, FSC, CySEC, DFSA |
Official site | https://www.xm.com |
Contacts |
+357 25029933 (CY), +612 8607 8385 (AU) and +501 223-6696 (BZ)
|
Education
Information
XM Broker has dedicated a separate section to training, which focuses on video content. Novice traders can watch the video, which describes the basic functions of the broker's platforms. There are also webinars and seminars conducted repeatedly at the site. The subjects are the most diverse - from the basics of fundamental and technical analysis to the development of trading systems.
All these tools are more of an auxiliary nature, giving traders the opportunity to build up their own experience and their own views on trading systems and trading.
Comparison of XM Group with other Brokers
XM Group | RoboForex | Eightcap | Exness | FBS | Octa | |
Trading platform |
MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MobileTrading | MetaTrader4, MetaTrader5 |
Min deposit | $5 | $10 | $100 | $10 | $1 | $25 |
Leverage |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | No | No | No |
Spread | From 0.6 points | From 0 points | From 0 points | From 1 point | From 0.2 points | From 0.6 points |
Level of margin call / stop out |
100% / 50% | 60% / 40% | 80% / 50% | No / 60% | 40% / 20% | 25% / 15% |
Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
No deposit bonus | No | No | No | No | $5 | No |
Cent accounts | Yes | Yes | No | No | Yes | No |
Detailed Review of XM Broker
XM Broker broker is one of the leading European brokers working in the Forex services sector for more than 10 years. During this time, the company has developed an innovative technological base that allows it to outperform its competitors in many respects. First of all, we are talking about the speed of orders execution and minimal slippage.
XM Broker is a universal broker. It sends client orders directly to liquidity providers or to the ECN network. End-to-end processing of orders allows us to guarantee the execution of more than 90% of applications with a speed of less than 1 second with narrow market spreads from 0.6-1 pip without a “markup”.
XM Broker — CFD-broker that is comfortable to be with
The XM Broker team decided to concentrate directly on providing active trading services. Constantly improving platform technology and data transfer, XM Broker has been able to achieve good results in this direction. The company offers more than 1,000 different trading instruments. XM Broker is one of the few brokers that added to classical instruments such assets as cotton, palladium, CFDs for shares of individual companies - there is everything for building complete correlation trading systems and a diversified investment portfolio. In the future, the addition of cryptocurrencies is expected.
Advantages:
The broker is licensed by 4 regulators, including CySec (Cyprus), which allows it to work under local laws in most countries worldwide.
Classic MT4 and MT5 platforms in various modifications, but still the same familiar to most traders.
There are micro accounts for novice traders and standard accounts.
Free Forex market analysis.
There are daily Forex webinars and free signals.
There is protection against negative balance.
XM Broker focuses on active trading, that is why there are no PAMM accounts and direct copy trading here, traders can directly connect to the MQL5 service from the platform, where you can copy tradings of individual traders, take part in algorithmic developments or discussions of trading topics.
User Satisfaction