XM Review

Trust Score

Min Deposit




Deposit Bonus



  • CySEC

  • ASIC

  • IFSC


  • MT4

  • MT5

  • MT4 Web

XM is a group of regulated brokers which is highly regulated by the CySEC, ASIC & the IFSC. XM has transformed the forex industry as it was one of the first players who shaped retail forex trading into what it is today. It gained massive interest from clients who were interested in trading but had little Capital to begin, as it's minimum deposit of $5 was and still is one of the lowest in the industry.

XM takes a very personalized and human approach towards it's clients, whilst also providing a top quality service through constant technological improvements and innovation. These are the fundamentals which have taken the broker to where it is today, amassing more than 2.000.000 clients globally.

With fantastic promotions running throughout the year such as Forex Championships, Deposit Bonuses, Loyalty Program and more, XM has surpassed it's competition by leading as an example.

XM Review Introduction

XM Group is a group of regulated online brokers. Trading Point of Financial Institutions Ltd was established in 2009 and it is regulated regulated by the Cyprus Securities and Exchange Commission (CySEC/120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670), XM Global Limited was established in 2017 and is regulated by the International Financial Services Commission (000261/106).

This broker has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms and this includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.

XM has a reputation for being a high leverage broker. It should be noted that their 888:1 leverage is not applicable to all the entities of the Group. The maximum leverage for clients registered under the EU regulated entity of the Group is 30:1. Leverage also depends on the financial instrument traded.

XM Products

XM offers a huge range of products which have increased over the years to fit every traders appetite. The Broker used to focus mostly on Forex where it offered more than 55 Currency Pairs of Majors Crosses and Exotics. 

Throughout it's growth however, XM has kept ahead of the market by introducing more than 1000 CFDs on Stocks and Commodities which are available via the MetaTrader 5 Platform.

It offers the most popular Commodities that we see from most Brokers, these being:

  • COCOA - US Cocoa
  • COFFE - US Coffee
  • CORN - US Corn
  • COTTO - US Cotton No. 2
  • HGCOP - High Grade Copper
  • SBEAN - US Soybeans
  • SUGAR - US Sugar No. 11
  • WHEAT - US Wheat

When it comes to CFDs on Stocks, the list is endless as more than 1000 Stocks are offered, of which more than 450 are US Stocks. These contain the most popular Stocks such as Apple, Google, etc.

In addition to the above, there are 14 Cash Indices and 10 Futures Indices, again comprising of the most popular ones for trading.

Another Asset Class favoured by traders that has been introduced by XM lately are Energies, which comprise of Brent Crude Oil, London Gas Oil, Natural Gas, WTI Oil and WTI Oil Mini.

Through our trading experience with XM, the Broker honoured all our Stop Loss and Take Profit levels, even in times of high volatility. This was excellent as we did experience quite a lot of slippage with other brokers. The broker claims to be a Market Maker.

XM Trading Platforms

One of the most important aspects of choosing a Broker, apart from the trading conditions offered, are the Trading Platforms available. XM currently offers the MetaTrader Suite of Platforms by MetaQuotes

This comprises of MetaTrader 4, as well as MetaTrader 5 which allow clients to trade over 1000 instruments, including CFDs on Stocks, Stock Indices, Forex, CFDs on Precious Metals and CFDs on Energies. More about the Instruments available with XM in the 'XM Products' section above.

MetaTrader 4 is perhaps the most popular Trading Platform chosen by traders all over the world. It's excellent to use as it's very easy for beginner traders to use, but also has some complex features for more advanced traders for technical analysis. Thankfully, XM has its own tailor-made MT4 & MT5 Platform Tutorials which clients can use in order to become acquainted with the Platforms.

Due to its popularity, MetaTrader 4 has established a huge ecosystem of third party Indicators, Expert Advisors and Scripts that can easily plug and play into the platform. There is also a huge community of traders that can offer Trading Signals directly from the platform. 

The great thing about MetaTrader Platforms is that they are available on an array of devices. These are shown in the table below:

MT4 for PCMT5 for PC
MT4 for MacMT5 for Mac
MT4 WebTraderMT5 WebTrader
MT4 for iPhoneMT5 for iPhone
MT4 for iPadMT5 for iPad
MT4 for AndroidMT5 for Android
MT4 for Android TabletMT5 for Android Tablet

The importance of device functionality is now more important than ever as more and more traders trade directly from their phones rather than switching to a desktop or laptop.

XM Platforms

XM Website

We found XMs website one of the easiest to use. Navigation is straight forward and the home page specifically tells clients what they will get when joining XM. Registration is easy and shouldn't take more than 2 minutes!

A newly introduced Research & Education Center has been established by the broker, which aims to provide insights and education to traders at both beginner and advanced level. We have found this section particularly useful, as clients have access to Market Reviews, Stock Market News, Forex News, Technical Analysis, Investment Themes and Analysis Videos.

Furthermore, clients also have access to Educational Material such as Forex Webinars, Video Tutorials and some great Tools for Trading, including an Economic Calendar and Trading Signals!

XM Deposits & XM Withdrawals

Payments are another very important aspect when it comes to choosing a Forex Broker. Choosing a Broker that offers very few Payment Methods may make it harder as well as more expensive to deposit. 

XM covers all the major brands of cards, such as Visa, MasterCard, Maestro and China UnionPay. Perhaps the second most popular payment method in Trading, being eWallets, are also offered, comprising of the likes of Skrill, Neteller and others. 

Deposits from Credit/Debit Cards, eWallets and other electronic payment methods are instant, whilst other non-electronic payment methods such as Bank Wire take 2-5 business days depending on the clients bank.

We have opened Accounts with XM from various jurisdictions, and one thing to make a note of is that it makes a huge effort in securing the most popular payment methods in all countries.

XM has an excellent Backoffice Department as withdrawals are practically as fast as they can get. Our withdrawal via Skrill was processed within a spectacular 2 hours. Our card withdrawal however, which was processed on the same day, reached our card after 3 days. This is understandable though as card withdrawals are not instant, and require approximately 2-5 business days.

Lastly, none of our Clients have reported any complaints with XM when it comes to withdrawals so far. If you do have an issue at any point though, please do not hesitate to contact us so we can get in touch with an XM Representative on your behalf.

XM Customer Care

XM Customer Service is probably one of the best customer support experiences we have had compared with other forex brokers. XM offers 24/7 Live Chat, as well as typical E-mail and Phone support.

We were able to speak to a real human through Live Chat within 10 seconds which is extraordinary. Apart from this, the Broker offers Customer Service in 26 different languages.

In general, the XM Support Team was fantastic and managed to solve our queries with professionalism.

Sometimes overlooked, Support is a very important element of any business. Especially when it comes to a business which handles and holds money on your behalf. 


The following are the most common questions asked by our Clients regarding XM:

How to Withdraw Money from XM?

In order to Withdraw Money from XM, login to your Members Area, and click the 'Withdraw' button next to the Account you want to withdraw funds from. After that, choose the Amount and Payment Method you wish to withdraw money. Your withdrawal will be processed within 24 Hours.

How to change base currency on XM?

You cannot change Base Currency in XM. You will have to open an Additional Account. Login to the Members Area, and click the Open an Additional Account button. You will not need to re-validate your Account if you already have a Validated Account.

How to use XM Trading and how to trade on XM?

After successfully registering and validating your Account, download the XM MT4 Trading Platform from the XM Platform website. In MT4, enter your MT4 ID and Password. You will then immediately be able to open positions if you have funded your Account.

How to trade with XM Bonus

XM clients can take advantage of two different types of bonuses. The first is the no deposit bonus, where new clients are credited with $30 to trade with. This amount is not withdrawable, however all profits made over and above this amount can be withdrawn.

The second type of bonus available by XM is the deposit bonus. This is a fixed percentage credited to your Trading Account upon a successful deposit. Whatever amount is credited into your Account is not withdrawable, however any profits made thereafter can.

*Clients registered under the EU regulated entity of the group are not eligible for the bonus. 

How to deposit money on XM Broker

Upon successful registration and validation of your Account, clients just need to login to their Members Area. Once logged in, choose the Account you wish to deposit funds to, and click the 'Deposit' Button. You will then be presented with the various payment methods available for deposit, where you should follow the instructions displayed.

User Reviews


based on 3 ratings

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Review of XM

Excellent Broker

Yukiko | Jul 10, 2019

How I got back my money

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Elizabethbanks | Aug 24, 2020

Not helpful

Elizabeth Banks
Yukiko | Apr 19, 2021

Not helpful

Elizabeth Banks
Yukiko | Apr 19, 2021

Recovery/investment advice/hacker for hire

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[email protected] | Feb 09, 2021