XM
4.6

XM

Strong Global Regulation. Low Spreads. Frequent Promotions.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.91% of retail investor accounts lose money when trading CFDs with this provider.

XM, regulated by CySEC, ASIC, FSA Belize, and FSCA, offers diverse accounts, 1,000+ instruments, competitive spreads, and low feesโ€”ideal for versatile traders.

Quick Overview:

Website:xm.com
License:๐Ÿ‡จ๐Ÿ‡พ CySEC ๐Ÿ‡ฆ๐Ÿ‡บ ASIC ๐Ÿ‡ง๐Ÿ‡ฟ IFSC
Established:2009
Broker Type:ECN
Instruments:1000+
Max Leverage:1:100
Min Deposit:5$
Fees:Low
Support:24/5
Segregated accounts
Compensation Fund
Algo Trading
Copy Trading
PAMM Accounts
Signals
Demo Account
Cent Account
Bonuses & Contests
Trading Fees
LowHigh
Execution Speed
LowHigh
Spreads
LowHigh
Pros
  • More then 1000 Instruments
  • Leverage up to 1:100
  • Comprehensive platform selection, including MT4, MT5
  • Competitive pricing with transparent fee structures
  • Swap-free to Islamic account
  • 24/5 multilingual customer support
  • Extensive educational tools including webinars, tutorials
Cons
  • XM offers cryptocurrency CFDs, the range of available crypto assets is more limited.
  • Some withdrawal methods incur fees
  • XM does not support the cTrader platform

XM Broker Review 2024: Is It the Best Forex Broker for You?

Introduction

Established in 2009, XM has rapidly grown into one of the most recognized Forex and CFD brokers, serving millions of traders from over 190 countries. With a focus on providing a client-friendly trading environment, XM offers a diverse range of account types, competitive fees, a wide variety of trading instruments, and educational tools suitable for all trading levels. Whether you’re a novice or a seasoned trader, XM aims to provide an inclusive and efficient trading experience. But is XM the right broker for you? This detailed review will explore everything from XMโ€™s regulation and account types to its trading platforms and customer support, giving you a thorough understanding of what this broker has to offer.

Regulation and Safety: Is XM a Safe Broker?

XM is regulated by several top-tier financial authorities, providing traders with a high level of security and peace of mind. XMโ€™s regulatory framework spans across different regions, ensuring global oversight and compliance with international standards. The primary regulators of XM include:

  • FSC (Financial Services Commission) of Belize: XM also operates under FSC regulation for its international clients outside of the EU and Australia. While FSC regulation offers a lower level of oversight compared to CySEC and ASIC, XM maintains a consistent commitment to safety and transparency for all clients.
  • CySEC (Cyprus Securities and Exchange Commission): XM operates under CySEC regulation, which ensures compliance with the EUโ€™s Markets in Financial Instruments Directive (MiFID II). This regulatory framework guarantees a high level of transparency, security, and protection for traders in the European Economic Area (EEA).
  • ASIC (Australian Securities and Investments Commission): XM is also regulated by ASIC, a globally respected regulatory body. ASIC enforces stringent standards to ensure that brokers operate transparently and ethically within the financial services industry.
XM Regulation Page

Client Fund Protection:

XM ensures the protection of client funds by adhering to strict regulatory guidelines regarding the handling of client money. Client funds are held in segregated accounts with reputable financial institutions, ensuring that these funds are never mixed with the broker’s operational capital. This segregation ensures that your funds are protected even if XM faces financial difficulties.

Negative Balance Protection:

XM offers negative balance protection across all account types. This means that in volatile market conditions, your account cannot fall into a negative balance, and you cannot lose more than your deposited capital. Negative balance protection is crucial for retail traders, especially during periods of market instability when price gaps can occur.

See more XM’s Regulatory Compliance

Compensation Fund:

XM also participates in the Investor Compensation Fund (ICF) under its CySEC regulation, which protects clients up to โ‚ฌ20,000 in the event of broker insolvency. This additional layer of protection ensures that traders are compensated if XM cannot fulfill its financial obligations. In addition, clients under ASIC regulation benefit from similar protection schemes, providing further security and reliability.

XM Account Types: Tailored for Every Trader?

XM offers several account types designed to meet the diverse needs of its clients, from beginners to experienced traders. With different minimum deposits, spreads, and leverage options, XM ensures that every trader can find an account that suits their trading strategy and risk tolerance.

Micro Account

The Micro Account is tailored for beginners or traders who prefer to trade with smaller volumes. This account type is ideal for new traders who want to start with minimal risk by trading in micro-lots (1 micro lot = 1,000 units of currency).

  • Key Features:
    • Minimum deposit: $5.
    • Spreads starting from 1 pip.
    • Leverage up to 1:30 (EU clients) and up to 1:500 (international clients).
    • No commissions on trades.

The Micro Account is perfect for traders who want to practice with small amounts of capital or those who prefer a lower-risk trading approach.

Standard Account

The Standard Account offers a more traditional trading setup, allowing traders to operate with standard lot sizes (1 lot = 100,000 units of currency). This account is suitable for traders who are comfortable trading larger volumes but still want to avoid commission fees.

  • Key Features:
    • Minimum deposit: $5.
    • Spreads starting from 1 pip.
    • Leverage up to 1:30 (EU) and up to 1:500 (international).
    • No commissions on trades.

The Standard Account is a good fit for traders who are ready to trade with larger volumes but want the simplicity of a spread-only cost structure.

XM Ultra Low Account

The XM Ultra Low Account is designed for traders seeking the tightest spreads possible. This account type offers ultra-low spreads starting from 0.6 pips, making it particularly appealing to scalpers and high-frequency traders.

  • Key Features:
    • Minimum deposit: $50.
    • Spreads starting from 0.6 pips.
    • No commission on trades.
    • Leverage up to 1:30 (EU) and up to 1:500 (international).

The XM Ultra Low Account is favored by traders who prioritize tight spreads and minimal trading costs, making it suitable for both short-term and long-term trading strategies.

Shares Account

For those interested in trading real shares rather than CFDs, XM offers the Shares Account, which provides access to major global stock exchanges such as the NYSE, NASDAQ, and LSE.

  • Key Features:
    • Minimum deposit: $10,000.
    • No leverage (1:1 trading).
    • No commissions on certain stock trades.
    • Only available for non-EU and international clients.

The Shares Account is designed for investors who prefer direct exposure to stocks without the leverage and flexibility offered by CFDs.

Islamic Accounts (Swap-Free)

XM also offers Islamic accounts across all account types for traders who need to comply with Sharia law. These accounts do not charge interest on overnight positions, ensuring that they adhere to Islamic financial principles. Islamic traders can still enjoy the full range of XMโ€™s services and trading conditions.

See more XM’s Account Type details
  • Ultra Low Micro Account
  • XM Ultra Low Account
  • XM Zero Accounts

This account type is ideal for new traders who want to start with minimal risk by trading in micro-lots (1 micro lot = 1,000 units of currency).

Account currencyUSD, EUR, GBP
Contract size
1 Lot = 1,000
Spread on all majorsAs Low as 0.8 Pips
CommissionNo
Maximum open/pending orders per client300 Positions
Minimum trade volume0.1 Lots
Lot restriction per ticket100 Lots
Islamic AccountOptional
Minimum Desposit5 USD
View More

This account is suitable for traders who are comfortable trading larger volumes but still want to avoid commission fees.

Account currencyUSD, EUR, GBP
Contract size1 Lot = 100,000
Spread on all majorsAs low as 0.8 Pips
CommissionNo
Maximum open/pending orders300 Positions
Minimum trade volume0.01 Lots
Lot restriction per tickets50 Lots
Islamic AccountOptional
Minimum Deposit5 USD
View More

This account type offers ultra-low spreads starting from 0.6 pips, making it particularly appealing to scalpers and high-frequency traders.

Account currencyUSD, EUR, JPY
Contract Size1 Lot = 100,000
Spread on all majorsAs low as 0 Pips
CommissionYes
Maximum open/pending orders per client200 Position
Minimum trade volume0.01 Lots
Lots restriction per ticket50 Lots
Islamic AccountOptional
Minimum Deposit5 USD
View More

Explore XM’s Trading Platforms: MT4, MT5, and XM WebTrader

XM provides access to two of the most widely used trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5), in addition to its proprietary XM WebTrader platform. These platforms cater to traders of all experience levels, offering advanced tools for technical analysis and automated trading.

MetaTrader 4 (MT4)

MT4 is the most popular trading platform among retail traders, and XM provides it with full functionality. Known for its user-friendly interface and powerful trading tools, MT4 is ideal for both beginners and experienced traders.

  • Key Features:
    • Advanced charting tools with multiple timeframes and over 50 technical indicators.
    • Support for Expert Advisors (EAs), allowing automated trading.
    • One-click trading for faster order execution.
    • Available on desktop, web, and mobile.

MetaTrader 5 (MT5)

MT5 is the successor to MT4 and offers additional features, including more advanced tools for traders who need more flexibility in their trading strategies. MT5 supports a wider range of asset classes, making it ideal for those interested in more than just Forex.

  • Key Features:
    • More timeframes and technical indicators compared to MT4.
    • Advanced order management tools, including stop-limit orders.
    • Integrated economic calendar and market news feed.
    • Available on desktop, web, and mobile.

XM WebTrader

XMโ€™s proprietary WebTrader allows you to trade directly from your browser without the need for software downloads. The WebTrader offers a clean and simple interface with full trading functionality, making it a convenient choice for traders who need quick access from any device.

  • Key Features:
    • No download required, accessible via any browser.
    • Full access to XMโ€™s range of trading instruments.
    • Real-time price quotes and fast execution.
    • Easy integration with MT4 and MT5 accounts.
XM’s platform: MT5 WebTrader

XM Trading Instruments: A Broad Range of Markets?

XM offers a comprehensive selection of over 1,000 trading instruments, allowing traders to diversify their portfolios and access multiple markets. Whether you’re interested in Forex, commodities, or cryptocurrencies, XM has an instrument to suit your trading preferences.

Forex Trading

XM offers 55+ currency pairs, including major, minor, and exotic pairs. Forex is available for trading 24/5, providing traders with access to the largest financial market in the world.

  • Majors: EUR/USD, GBP/USD, USD/JPY, and others.
  • Minors: EUR/GBP, AUD/NZD, and more.
  • Exotics: USD/TRY, EUR/ZAR, USD/MXN, and more.

Stocks and Shares

For those looking to diversify beyond Forex, XM offers CFDs on major global stocks from exchanges like the NYSE, NASDAQ, and London Stock Exchange. Traders can speculate on the price movements of well-known companies such as Apple, Amazon, and Tesla.

Commodities

XM provides a broad range of commodities for trading, including both precious metals and energy commodities. You can trade gold, silver, oil, and natural gas, providing opportunities to hedge against currency risk or speculate on global demand for these essential resources.

Indices

For traders looking to speculate on broader market movements, XM offers CFDs on 30+ global indices, including the S&P 500, NASDAQ, FTSE 100, and DAX 30. Index trading allows traders to capture the performance of major stock markets without trading individual stocks.

Cryptocurrencies

XM also offers CFDs on cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. Cryptocurrency CFDs provide an opportunity to profit from the volatile price movements of digital assets without owning the underlying coins.

View More about XM Trading Instruments here

XM Spreads, Fees, and Commissions: Transparent and Competitive

XM is known for its transparent pricing and competitive spreads across all account types. While most of XMโ€™s account types are commission-free, trading costs are built into the spreads, which remain competitive compared to other brokers.

  • Micro and Standard Accounts: Spreads start from 1 pip, with no commission fees. These accounts are ideal for traders who prefer a simple, spread-only cost structure.
  • Ultra Low Account: For traders looking for tighter spreads, the XM Ultra Low Account offers spreads starting from 0.6 pips, making it a popular choice for traders who want to minimize costs without sacrificing execution quality.

View More about XM Spreads and Fees here

XM Customer Service and Support: 24/5 Availability

XM offers 24/5 customer support, ensuring that traders receive prompt and professional assistance whenever needed. The support team is available through various channels, including live chat, phone, and email. XM provides multilingual support in over 20 languages, ensuring that clients from all over the world can access assistance in their preferred language.

Multilingual Support: A wide range of languages to cater to XMโ€™s global client base.

Live Chat: Available 24/5 for instant support.

Phone and Email: Direct lines for more complex queries.

XM Support Page

Educational Resources: Learn and Improve with XM

XM places a strong emphasis on education, offering a comprehensive range of resources designed to help traders improve their skills and strategies. Whether you are a beginner or an experienced trader, XM provides valuable resources to enhance your trading knowledge.

Training Videos and Webinars

XM offers daily webinars and video tutorials covering a wide range of topics, from the basics of Forex trading to advanced trading strategies. These webinars are hosted by experienced traders and market analysts, providing valuable insights and educational content for traders of all levels.

Demo Accounts

For beginners, XM provides unlimited demo accounts that allow you to practice your trading strategies in a risk-free environment. Demo accounts replicate real market conditions, helping you gain experience without risking your capital.

Market Analysis and Research

XMโ€™s research team provides daily market analysis, technical reports, and economic news to keep traders informed of key market events. These insights are invaluable for traders looking to stay ahead of market trends and make informed decisions.

XM education

Our Conclusion: Is XM the Right Broker for You?

"XM distinguishes itself as a leading global broker with a strong regulatory framework, competitive trading conditions, and a wide range of educational tools. Whether you are a beginner looking for a low-barrier entry with tight spreads or an experienced trader seeking advanced platforms and a wide selection of instruments, XM offers a comprehensive and secure trading environment. With its commitment to transparency, safety, and customer service, XM is a solid choice for traders looking to engage with the Forex and CFD markets in 2024."

whatsthebestbroker.com

From 10$
Leverage up to 1:30
License: ๐Ÿ‡จ๐Ÿ‡พ ๐Ÿ‡ฆ๐Ÿ‡บ ๐Ÿ‡ง๐Ÿ‡ฟ

Strong Global Regulation. Low Spreads. Frequent Promotions.

5.0
Trust & Safety
5.0
Platform & App
4.4
Trading Fees
4.0
Customer Service
4.6 Overall Rating

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.