XM Review 2021

Review sections

• Investor Protection & Regulations
• Tradable Products
• Account Opening
• Deposit & Withdrawals options
• Web & Desktop Trading Platforms
• Mobile Trading Platforms
• Trading Features
• Commissions & Spreads
• Bonus & Promotions
• Customer Support
• Research
• Trader Education
• Trading Experience
• FAQ
• Conclusion

XM Video Review

Investor Protection & Regulations

“XM is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the International Financial Services Commission of Belize (IFSC), offering segregated client funds and negative balance protection.”

XM is authorised and regulated by regulators around the world. This includes authorisation and regulation by the Cyprus Securities and Exchange Commission under the company name of Trading Point of Financial Instruments Ltd, as confirmed on the CySEC register below:

This regulation allows the broker to also be registered in cross-border states within the European Union under the outward passporting rules. XM is also regulated by the Australian Securities and Investments Commission and by the International Financial Services Commission of Belize.

The broker offers further protection to clients by:

• Offering a negative balance protection policy.
• Holding client funds securely in segregated accounts with tier one banking institutions.
• Being members of the Investor Compensation Fund.
• Banking with investment-grade bank Barclays.

Tradable Products

“XM offers clients the ability to trade on more than 1,000+ financial CFD instruments covering Forex, Stocks, Indices, Commodities, Metals and Energies.”

A wide range of CFD instruments are available to trade on with XM, including 55+ Forex pairs, 26 Indices, 8 Commodities, 1,236+ Stocks, 4 Metals and 5 Energies.

Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the XM website and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight swap rates vary depending on the account type and instrument being traded but are covered in more detail further in this review.

Account Opening

“XM offers a range of different accounts which vary depending on the global jurisdiction but offer features and benefits suitable for both beginner and advanced traders.”

XM provides clients with a large range of account types, each with its own unique features and benefits. The different account types offer different leverage amounts based on different regulatory jurisdictions (CySEC, ASIC and IFSC), as well as the choice of commission-free or commission-based accounts, as well as a Shares account (depending on global region), Islamic swap-free accounts and a demo trading account.

XM CY Trading Account Types

While accounts can be funded in multiple currencies, they will be converted into USD. Opening a live account is a simple process and can be done in just two steps. The application form consists of inputting personal information, trading account details, employment information and other investor questions.

Users will then be redirected to the XM client portal area where they can manage accounts and access deposit and withdrawal options. XM does not accept clients from America, Canada, Israel and the Islamic Republic of Iran.

Deposit & Withdrawals options

“XM provides commission-free deposit and withdrawal options for credit/debit cards, Neteller, Moneybookers and China UnionPay.”

XM offers a wide variety of deposit and withdrawal options.

• Zero fees on deposits and withdrawals via Neteller, Moneybookers and all major credit cards including Visa, Electron, MasterCard, Maestro and China UnionPay.
• Zero fees on deposits and withdrawals made by bank wire transfer over 200 USD or currency equivalent.
• Instant account funding via credit cards and electronic wallets.

Deposits and withdrawals can be made directly from the XM member’s area section.

Web & Desktop Trading Platforms

“XM traders have access to the globally-recognised MetaTrader 4 and MetaTrader 5 trading platforms, accessible on PC, Mac and Web.”

XM MetaTrader 4 Platform

The XM MetaTrader 4 trading platform is available for PC, Mac and Web and offers a variety of features for traders, including:

• 1,000+ instruments across Forex, CFDs and Futures
• Full EA (Expert Advisor) functionality
• Social Signals trading
• 1 click trading with inbuilt news functionality
• 3 chart types
• 50 technical trading indicators

XM MetaTrader 5 Platform

The XM MetaTrader 5 trading platform is available for PC, Mac and Web and offers all the features of MetaTrader 4 with a variety of additional features for traders, including:

• 300 more additional Stock CFDs
• Additional order types
• 80 technical trading indicators
• Economic calendar
• Market depth

Here is an example screenshot of the XM MetaTrader 5 trading platform for PC which is covered in more detail in the video review:

Mobile Trading Platforms

“XM offers traders the ability to trade on the MetaTrader 4 and MetaTrader 5 mobile trading apps for iOS and Android operating systems. The broker also offers the XM Trading App which allows users to manage their MT4 and MT4 accounts.”

XM clients can download the XM MetaTrader 4 and XM MetaTrader 5 apps through the Apple App Store or Google Play Store for Android. Users can also trade on these mobile trading apps through iOS or Android tablets.

XM MT4 Mobile Trading App

• Full MT4 account functionality
• 3 chart types
• 30 technical indicators
• Real-time charts with zoom and scroll

XM MT5 Mobile Trading App

• Full MT5 account functionality
• Multi-asset class
• Supports all trading order types
• Built-in market analysis tools

XM Mobile Trading App

From this app, users can access their member’s area to manage their MT4 and MT5 trading accounts, as well as other services including placing trades.

Trading Features

“XM offers additional algorithmic trading tools, as well as tools from the MQL5 community such as trading signals and copy services.”

Clients trading with XM are offered additional services to enhance their trading experience. These include:

• XM Trading Tools. The broker offers a basket of algorithmic trading tools for the MT4 and MT5 trading platforms. These include the Ribbon Indicator, River Indicator, Ichimoku Indicator, Bollinger Bands Indicator, ADX and PSAR Indicator.
• MQL5 Trading Signals. Live account holders can access free trading signals from and copy trading services from the MQL5 database of signal providers.

Commissions & Spreads

“Trading costs with XM vary depending on the account type and instrument being traded but largely come from commissions (only on the XM Zero Account), spreads and swaps.”

The broker also provides detailed, transparent information regarding it spreads and swaps for different trading accounts, across different asset classes, as the example below shows.

XM Forex Trading

XM offers commission-free trading on Forex pairs with the XM Standard Account and XM Micro account. Fees to hold trades overnight (swaps) and average spreads information can be found on their website, as shown below:

For XM Zero Accounts, a commission is charged per 100,000 USD traded, albeit with lower average spreads, as the table on the broker’s website shows below:

In the example above, the spread for AUDCAD is 2.8 pips on the Standard Accounts and just 1 pip on the XM Zero Account which makes both offerings competitive.

Bonus & Promotions

“XM is currently offering two promotional offers but this could be subject to change – Free VPS Services and Zero Fees on Deposits and Withdrawals.”

Brokers regulated by a European regulator cannot offer bonuses and promotions in line with ESMA rules.

However, clients of XM are offered two promotional offers for account services:

• Free VPS Services
• Zero Fees on Deposits and Withdrawals.

Promotions are subject to change and more details can be found on the broker’s website.

Customer Support

“XM offers 24 hours a day, 5 days a week customer support via Live Chat, Email, Online Contact Form and Phone in more than 25 different languages.”

XM offers customer support 24 hours a day, 5 days a week, Monday to Friday through Live Chat, Email and Phone in multiple languages including English, Greek, Simplified Chinese, Traditional Chinese, Bahasa Malay, Bahasa Indonesia, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Portuguese, Czech, Slovakian, Bulgarian, Romanian, Bengali, Urdu, Thai, Nepali, Tagalog, Vietnamese, Cebuano and Serbian.

After clicking on the Live Chat icon we were connected to a live agent quickly who answered our question promptly, as shown below:

• Address:
  • 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus
    • 07:00 – 16:00 GMT, +357 25029933
  • Level 13, 333 George Street, Sydney, NSW 2000, Australia
    • 24/5 GMT, +612 8607 8385
  • Michalakopoulou 91, 3rd Floor, 11528, Athens, Greece
    • 07:00 – 16:00 GMT, +30 211 7700022
• Email:
• • support@xm.com
• Social:
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
  • Instagram

Research

“XM offers an impressive range of research tools including Markets Overview, News, XM Research, Trade Ideas, Technical Summaries, an Economic Calendar, XM TV and a Podcast.”

Users can access a wide variety of research tools suitable for both beginner and advanced traders. All the analysis covers all asset classes including technical analysis on Forex markets, stock market news, daily market commentary and fundamental analysis.

Trader Education

“XM offers an impressive suite of unique educational products including Live Education, Educational Videos, Forex Webinars, Forex Seminars and Platform Tutorials.”

XM offers a wide variety of educational resources which include live education, webinars, videos and platform tutorials. The webinars take place 7 days a week in 18 different languages from 49 different webinar instructors.

The live education rooms consist of the Basic Room and Advanced Room and cover trading fundamentals, trading session analysis and a Q+A section. Users can access these rooms for free and they take place in English.

Below is a screenshot of some of the webinars that take every week in some regions:

Trading Experience

“XM offers a competitive offering to trade on more than 1,000+ financial CFD instruments covering a wide range of asset classes from the globally-recognised MetaTrader 4 and MetaTrader 5 trading platforms.”

From our observations, XM provides a simple and transparent trading offering to trade from 3 core types of trading accounts which offer low spreads and a mixture of commission-free and commission-based trading.

Users can trade on more than 1,000 financial CFD instruments covering Forex, Stocks, Indices, Metals and Energies from the globally-recognised MetaTrader 4 and MetaTrader 5 trading platforms for PC, Mac, Web and Mobile.

The broker also provides access to a wide range of impressive research and education tools such as live webinars, market analysis videos and live education rooms, making it a great resource for both beginner and advanced traders.

FAQ

Is XM regulated?

Yes, by CySEC, ASIC and IFSC.

Where is XM based?

XM is based at 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus but also has international offices.

How does XM make money?

As XM is a market maker, the broker makes money through spreads, swaps and commissions on certain tradable asset classes and instruments.

How do I deposit in XM account?

Funds can be deposited into a trading account via Neteller, Moneybookers, bank wire transfer and through credit cards (Visa, Electron, MasterCard, Maestro, China UnionPay).

What is the min. deposit for XM?

The minimum deposit to open a trading account varies based on the account type but starts as lows as $5.

How do I withdraw money from XM?

Withdrawals can be made from XM through the member’s area and can be done via bank wire transfer, Neteller and to credit cards, among others.

What is the max leverage in XM?

The maximum leverage offered by XM is 30:1 for CySEC regulated entities but is higher in other global jurisdictions.

How do I open an account with XM?

An account can be opened at the click of a button on the XM website and can be done in just a few steps.

Does XM use MetaTrader?

Yes, MetaTrader 4 and MetaTrader 5.

Conclusion

“XM is a globally regulated broker offering to trade on more than 1,000+ financial CFD instruments across Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.”

XM was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the International Financial Services Commission of Belize (IFSC) and segregates client funds from their own, which are then held with tier-one banking institutions.

The broker offers more than 1,000+ financial CFD instruments covering Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.

XM offers 3 core types of trading accounts called Micro, Standard and XM Zero with the first two allowing for commission-free trading and spreads starting from just 1 pip. Minimum deposits are low at just $5 and the broker also offers Islamic swap-free accounts, with customer support 5am to 7pm GMT via live chat, email and telephone.

Both beginner and advanced traders will enjoy the impressive research and education section which is feature-rich and up to date. Research is provided from the broker’s Markets Overview, XM Research, Trade Ideas, XM TV, Podcasts and Technical Summaries section. Education is provided through XM Live, Forex Webinars, Seminars, Platform Tutorials and Educational Videos.

• Regulated by CySEC, ASIC and IFSC.
• 1,000 financial CFD instruments to trade on.
• Commission-free trading accounts available.
• Can trade on MetaTrader 4 and MetaTrader 5.