Trust Score
4.8

Min Deposit

$5


Leverage

888:1


Deposit Bonus

50%

Regulation

  • FCA

  • CySEC

  • ASIC

  • IFSC

Platform

  • MT4

  • MT5

  • MT4 Web

XM is a brand name of the 'Trading Point Group', which is highly regulated by the FCA, 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.

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 1.000.000 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.com is a trading name of the Trading Point Holdings LTD Group founded in 2009. Firstly known as Trading Point of Financial Instruments, the Company re-branded to XM. XM is a multi regulated broker, holding regulations under CySEC, the FCA, ASIC, FSP and the IFSC.

XM offers Forex and CFD Trading on Stocks, Indices, Oil and Precious Metals. Approximately 350 financial instruments amongst six asset classes are available to all its clients through the popular Metaquotes MetaTrader 4 & MetaTrader 5 Platform.

In 2016, XM made headline news when Usain Bolt became its Official Brand Ambassador, which was a pretty slick move from the Broker as they linked his speed to their execution.

XM Review 2018
XM HomePage

XM Products

XM offers a range of products to fit every traders appetite. The broker mostly focuses on Forex as it offers more than 55 Currency Pairs of Majors, Crosses and Exotics, including precious metals such as Gold and Silver.

The Company has also introduced more than 300 CFDs on Stocks and Commodities which are all available via the MetaTrader 5 Platform. XM states that it is a Market Maker operating an STP-Execution Model.

In order to keep up with the market, XM has recently also introduced Cryptocurrencies, where clients can now trade Bitcoin (BTC/USD).

Through our trading experience with XM, the Broker honoured our Stop Losses and Take Profit levels which was excellent as we did experience quite a lot of slippage with other brokers.

XM Cryptocurrency Trading
XM Cryptocurrency Trading

XM Trading Account Types

XM has three different Trading Account Types, which are Micro, Standard and XM Zero Accounts. The main differences between Micro and Standard Accounts, is that the contract size with Micro Accounts is 1 Lot equal to 1,000, whereas in Standard Accounts, 1 Lot is equal to 100,000.

Micro Accounts are great for traders who want to start small and not risk high amounts of money. However Standard Accounts can also be used by beginner traders as both types of Accounts offer a very low Minimum Deposit of $5.

Spreads, Commissions and Leverage for Standard and Micro Accounts are identical. XM Spreads range as low as 1 Pip for all Majors like EUR USD. Leverage ranges from 1:1 up to 1:888 depending on your region.

XM Zero Accounts on the other hand, have zero spreads as the name suggests, but have commissions which cost $5 per $100,000 traded each way.

XM Trading Account Types
XM Trading Account Types

As shown by the image above, XM offers 3 different Account Types. One is the Micro Account, where the major difference is that a Micro Lot is equal to 1,000 Units. Whereas in Standard Accounts, 1 Standard Lot is equal to 100,000 Units.

Apart from the above, XM also offers demo accounts which are completely free and available for whoever wants to test the platform. The Broker also offers Islamic Accounts for clients from specific regions.

XM Trading Platforms

XM currently offers the very well-known MetaTrader 4 by MetaQuotes. It has also recently introduced MetaTrader 5 which allows clients to trader over 300 Instruments including stock CDFs, Stock Indices CDFs, Forex, CFDs on Precious Metals and CFDs on Energies. Both platforms are available for PC, Mac, iPhone & Android.

Thankfully, XM has its own tailor-made MT4 & MT5 Platform Tutorials which clients can use in order to become acquainted with the Platforms.

XM Platforms
XM Platforms

XM Promotions

Clients can choose from various promotions that XM has running New clients automatically receive a 20 GBP Bonus to trade with once their Account is validated. No Deposit is required to receive this bonus, and any profits earned can be withdrawn.

A deposit bonus of 50% up to $500, with a subsequent 20% up to $4,500, is also offered by the broker.

Perhaps the most impressive and innovative element of XM’s Promotions is their Loyalty Program. Clients are automatically enrolled to the XM Loyalty Program, and they are awarded XM Points that can be redeemed for credit bonus rewards. Different Loyalty Statuses exist, which all depend on how long you have been trading continuously with the broker.

XM also offers Free VPS Services for clients who trade mostly with EAs, and also always covers all transfer fees whether clients deposit with E-Wallets, Credit Cards, or Wire Transfers (above 200 USD).

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

A large array of Payment Methods are available for clients globally, depending on what country the client resides in.

XM Payment Methods
XM Payment Methods

Most brokers now offer the standard range of Credit Cards, e-Wallets and Wire Transfer. Some focus on the popular payment methods in individual markets, making deposits easier.

XM has an excellent Backoffice Department as Withdrawals are practically as fast as can get. Card Withdrawals and e-Wallet Withdrawals being processed in 24 hours. Bank Wires take approximately 2-5 Business Days which is the industry norm.

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.

XM FAQ

Here are some of the frequent questions asked by Clients about 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 request XM Card?

Unfortunately XM has stopped issuing XM Cards for certain regions. You will have to ask your Account Manager on whether XM Cards are available for clients in your country.



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.

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yucanoke | Jun 04, 2019