Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
XM Pros & Cons
- Regulation in six jurisdictions;
- Accounts designed for different strategies and levels of trader experience;
- Minimum deposit of $5;
- Various bonuses, trading competitions, and an affiliate program;
- 100% order execution;
- No markup on tight market spreads;
- Access to more than 1,400 instruments;
- No deposit or withdrawal fees;
- 24/7 multilingual support in over 30 languages.
- Copy trading and stock trading accounts are not available in all countries.
TU Expert Verdict
I can confidently recommend XM — it is a highly trusted company that I have personally tested and verified. Its trading conditions and user feedback show that most traders are satisfied, and my own experience confirms its solid and consistently reliable performance.
Top-5 Brokers Traders Prefer
XM User Reviews
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5-star
70%
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4-star
20%
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3-star
9%
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2-star
1%
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1-star
0%
I have not gotten any
I withdrew money from XM and the whole process was smooth and hassle-free. I used both a bank card and Neteller — both methods worked perfectly, and the funds arrived within a couple of business days. Everything was easy to navigate, just a few clicks to submit the request. I also appreciated that there were no hidden fees from the broker, and I could track the status of my withdrawal in the personal dashboard. Overall, the platform feels reliable, especially when it comes to handling money. So far, I’m happy — trading is comfortable and withdrawals are stress-free!
I haven't encountered any yet.
When I started working with XM, I had a small deposit. I decided to activate the welcome bonus — and I’m glad I did! This “safety cushion” really helped me psychologically and gave me more freedom in trading. I was able to diversify risks by opening trades not only on EUR/USD but also trying my hand at gold.
My biggest concern, of course, was about withdrawals. I grew my account, started making regular profitable trades, and requested my first withdrawal. And you know what? Everything went smoothly! I withdrew exactly the amount I earned beyond my deposit and the bonus. No hidden conditions, no disputes, no freezes. Now I withdraw funds once a week, just as planned, and it’s become routine. XM fulfills its obligations honestly, which, for me as a trader, is the most important sign of reliability.
No
I've been trading with XM Group for over a year now, and I can confidently say — the broker has fully lived up to my expectations. No hidden pitfalls, no delays, no unpleasant surprises. I’ve compared the EUR/USD and XAU/USD charts in XM’s terminal with those on TradingView — they match tick-for-tick, with no slippage or strange “wicks” that you sometimes see with other brokers. This is especially important when you trade with a precise entry and a tight stop — I usually set a 15-pip stop, and not once have I been taken out by an unjustified price spike. What I appreciate most is the speed of withdrawals. I withdraw to a bank card, and the money usually arrives within 12–18 hours — even on a Monday morning. One time I submitted a request on Sunday evening, and the funds were already in my account by lunchtime on Monday.
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria7 /10The trading and non-trading commissions of XM have been analyzed and rated as having Medium fees, with a fees score of 7/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.
- Low Forex trading fees
- Tight EUR/USD market spread
- No deposit fee
- No withdrawal fee
- Inactivity fee applies
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Is XM Safe?
We checked the XM officeScore:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria10 /10XM has a safety score of 10/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record over 17 years
- Strict requirements and extensive documentation to open an account
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Account Types
Score:We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.9.5 /10XM offers the following account options: Demo, Standard, ECN/Raw spread, Swap Free.
However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.
- Standard account with balanced trading conditions
- Low minimum deposit
- Demo account
- No Cent account
- Micro lots are not available
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology8.2 /10XM received a High score for the efficiency and convenience of its deposit and withdrawal processes.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria7.5 /10XM provides a standard range of trading assets in line with the market average. The platform includes 1400 assets in total and 57 Forex currency pairs.
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Trading Account Opening
We successfully registered an account with XM in 5 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at XM is $5.Score:We evaluated Trading Account Opening at XM by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.10 /10This is one of the most accessible and hassle-free onboarding procedures on the market.
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Trading platforms & tools
Score:This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria7.2 /10XM received a score of 7.2/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.
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Mobile Apps
Score:This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria7 /10 -
Customer Support
Score:We evaluated Customer Support at XM by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria9.6 /10
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XM Video Guides
FAQs
How is XM regulated and what safety measures are highlighted in the review?
The review states that XM has a safety score of 10/10 and is described as having a high security level, supported by Tier-1 regulation and a track record since 2009. It is regulated by several authorities, including CySEC in Cyprus with an investor compensation fund up to €20,000, and offers negative balance protection and KYC verification. Other regulators listed include DFSA, FSCA SA, FSC (Mauritius), FSC (Belize), FSA (Seychelles), and CMA in Kenya and the UAE, some of which do not have specific investor protection funds mentioned.
What trading commissions and non-trading fees does XM apply according to the review?
According to the review, XM’s overall fees are rated 7/10, with low forex trading fees, tight EUR/USD spreads, and no deposit or withdrawal fees. For Standard accounts, commissions are included in floating spreads (e.g., EUR/USD typically 0.7–1.2 pips), while RAW/ECN accounts have average spreads around 0.2 pips on EUR/USD and GBP/USD plus a $3.5 per lot commission. The review also notes a non-trading inactivity fee of $10 per month, while deposit and withdrawal fees are listed as 0% and $0.
What do user reviews and feedback say about XM overall?
Based on available user reviews, XM has a user satisfaction score of 9.2/10 from 263 reviews, with 70% of them being 5-star and 20% 4-star, indicating mostly positive impressions. Lower ratings are relatively limited, with 9% 3-star, 1% 2-star, and 0% 1-star reviews, and the review notes that 16,103 users chose this broker.
How is the XM mobile trading app experience described in reviews?
The review notes that XM’s mobile trading support is rated 7/10, with dedicated apps for iOS and Android and generally acceptable mobile trading functionality. It highlights support for mobile alerts and indicators, strong iOS feedback with a 5.0/5 App Store rating, and 4.8 on Google Play, but also mentions that mobile two-factor authentication is not supported. Total downloads for XM’s mobile apps are reported at around 10,000,000.
What feedback is provided about XM customer support in this review?
The review gives XM customer support a score of 9.6/10 and describes assistance as prompt, clear, and maintained until issues are resolved. It notes that support is available 24/7 during global trading sessions via online chat, email, phone, LINE, WhatsApp, a Telegram bot, and a Help Center/FAQ, in more than 30 languages. A possible drawback mentioned is occasional delays in email responses.
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