XM Broker Review

Author By Jeffrey Cammack Author Information Updated: November 7, 2020
Overall Rating
4.38 4.38 / 5
Rated #7 of 49 Recommended Brokers
Min. Deposit
USD 5
Regulators
Trading Desk
Trading CostTrading Cost Information
USD 16
Website Language
English, Malay, Chinese, Hungarian, Indonesian, Polish, Arabic, Portuguese, Vietnamese, Thai
Support Language
English, Chinese, Portuguese, Polish
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 888:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

Summary

XM Group (XM) is a dealing desk broker which offers floating spreads, three different account types and support for the MT4 and MT5 platforms. XM also offers swap-free Islamic accounts and an unlimited demo account.

With tight spreads, fast execution times and good analysis software it is a great broker for scalpers, day traders and long-term traders. XM also offers a low minimum deposit on two of the account types making this broker accessible for new traders.

If you are looking for a swap-free Islamic account, first open a regular trading account with XM, login to your member’s area to validate your account, and then request an Islamic account.

Reviews

Regulation
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
111115/ 5
Assets Available
11110.54.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Excellent
Bonuses
$30 No Deposit Bonus

Account Information

Base Currencies
Number of FX Pairs
57
Copy Trading
Yes
Hedging Allowed
Yes
Scalping Allowed
Yes
Islamic Account
Yes

Trading Conditions

Min. Spread
0.60 pips
Commission
7 USD / lot - XM Zero Account
EUR/USD
0.8
GBP/USD
1.1
USD/JPY
0.8
Max. Leverage
888:1

Company Details

Company Name
XM Global
Founded
2009
Website
Office Locations
Cyprus, Australia, Belize

Is XM Safe?

XM Group is a brand name of Trading Points of Financial Instruments and is regulated by the following entities.

  • Trading Point of Financial Instruments Ltd was established in 2009 and it is 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)
  • Trading Point of Financial Instruments UK Ltd was established in 2016 and it is regulated by the Financial Conduct Authority (FCA 705428).

Account types

XM offers four different account types: Three real accounts and a demo account.  All accounts are available as swap-free Islamic accounts by request.  

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Micro
USD 5
888:1
1.0
None
Account Details
Standard
USD 5
888:1
1.0
None
Account Details
XM Ultra Low
USD 50
888:1
0.6
None
Account Details
XM Zero
USD 100
30:1
0.6
$7.00
Account Details

The different real accounts offer traders flexibility in terms of minimum deposit and contract size.

  • Demo Account: Ideal for trading practice, as well as for testing trading strategies.  XM’s Demo Account does not expire and allows you to trade on live markets, risk-free.  For more information on the demo account and sign up, click here.
  • Micro Account:  This is the cheapest account, with a minimum deposit of 5 USD and a wide range of base currencies available. Contract size for this account is 1 lot = 1000 units and spreads for majors are as low as 1 pip.
  • Standard Account:  This account also has a minimum deposit of 5 USD and the same wide range of base currencies.  Contract size for this account is 1 lot = 100,000 units and spreads are as low as 1 pip.
  • Ultra Low Account:  This account has a higher minimum deposit of 50 USD but the spreads on majors can be as low as 0.6 pips and spreads are lower across the board.  Contract size is 1 unit = 100,000 units for this account, but base currencies are limited to EUR, USD, GBP, AUD, ZAR, SGD. Trading Bonuses are not available on this account.

Promotions

XM offers a variety of promotional offers to new traders.  Below are the current promotions and bonuses being offered by XM in Malaysia to give you an idea of what you can expect as a welcome.

Leverage

XM has flexible leverage depending on account type and size of trade.  Using a high-level of leverage adds additional risk.  The leverage offered is 1:1 to 1:888 (5 USD – 20,000 USD), 1:1 to 1:200 (20,001 USD – 100,000 USD) & 1:1 to 1:100 (100,001 USD +).

Trading Platforms

XM supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for PC, Mac, Browser and all iOS and Android devices.

All the XM platforms allow the use of Expert Advisors (EAs) and indicators.

Deposit & Withdrawals

There are a variety of ways of depositing and withdrawing cash from your XM account. XM Group accepts the most commonly used payment methods, including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc

The account funding process is open for 24 hours a day and it is fully automated. XM also covers all transfer fees and does not include any hidden fees or commission for funds deposits.

XM Advantages

  • Tight spreads starting from as low as 1 pip for Micro and Standard Accounts and as low as 0.6 pips for the XM Ultra Low account.
  • Flexible leverage of up to a maximum of 1:888 is available.
  • 24/5 support for all customers in 25 languages.
  • No re-quotes on any trades.
  • Personal account managers for all customers.
  • A 30 USD Trading Bonus on the Micro and Standard Accounts and a Deposit Bonus up to 4,500 USD.
  • Scalping and hedging on all accounts.
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 888:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.38/ 5
USD 5
Market Maker
Commodities, Cryptocurrencies, Equities, Energies
57
0
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Dealing desk
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
11110.54.5/ 5
111115/ 5
11110.54.5/ 5
111104/ 5
77.19% of retail investor accounts lose money when trading CFDs with this provider
888:1
0.60 pips
Yes
Yes
Micro, Standard, XM Ultra Low, XM Zero
Yes
MT4, MT5
Bank Transfer, Mastercard, Maestro, Bitcoin
7 USD / lot - XM Zero Account
1110.503.33/ 5
USD 200
Market Maker
Commodities, Cryptocurrencies, Forex, Equities
47
16
  • Well regulated
  • Good for beginners
  • Innovative trading tools
  • Limited education
  • Wide spreads
11110.54.5/ 5
110.5002.5/ 5
111104/ 5
110002/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
71% of retail investor accounts lose money when trading CFDs with this provider
400:1
1 pips
Yes
Yes
Professional, Standard
Yes
etoro
Mastercard, Neteller, Skrill, Paypal
Fees Included in Spread
1110.503.73/ 5
USD 500
Market Maker
Commodities, Forex, Equities, ETFs
48
0
  • Good range of accounts
  • Wide range of assets
  • Wide spreads
  • Limited education
  • Limited market analysis
  • High minimum deposit
111104/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
10.50001.5/ 5
11110.54.5/ 5
111003/ 5
69.7% of retail investor accounts lose money when trading CFDs with this provider
400:1
2 pips
Yes
Yes
Gold, Islamic, Mini, Platinum
Yes
MT5, Sirix
Mastercard, Maestro, Skrill, Neteller
Fees Included in Spread
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