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XM Forex Broker Review
1. Overview of XM
Established: Founded in 2009.
Client Base: Over 10,000,000 clients globally.
Global Presence: Traders from over 190 countries.
2. Professional Team
Experienced Staff: More than 1,400 professionals with extensive experience in the financial industry.
Multilingual Support: Support available in over 30 languages.
3. Trading Platforms
Variety of Platforms: Access to 10+ fully featured trading platforms.
Flexible Trading Conditions: Designed to cater to traders of all levels.
4. Customer Support
Availability: 24/7 customer support to assist traders at any time.
Client Education: Hosting hundreds of seminars worldwide to educate traders.
5. Fair and Trustworthy Trading
Ethical Practices: All clients enjoy fair trading conditions, regardless of investment size.
No Re-quotes or Rejections: 99.35% of trading orders executed in less than one second.
Negative Balance Protection: Ensures clients never lose more than their account balance.
6. Client-Centric Philosophy
Focus on Satisfaction: Client satisfaction is prioritized to foster loyalty.
Human Connection: Management engages directly with clients through visits and seminars.
7. Diverse Offerings
Trading Instruments: Offers currency trading, CFDs, equity indices, precious metals, and energies.
Cultural Openness: Embraces diversity in servicing a global clientele.
8. Adaptability and Innovation
Staying Current: Monitors industry trends and adopts new technologies.
Commitment to Performance: Offers tight spreads and optimal execution to enhance client trading performance.
Expert Reviewer Verdict
User-Friendly Platform
XM Group is praised for its intuitive and accessible trading platform,
making it easy for both beginners and experienced traders to navigate
and execute trades efficiently.
Diverse Tradable Assets
The broker offers a wide variety of assets, including forex, commodities,
indices, and cryptocurrencies, allowing traders to diversify their portfolios
and explore different markets.
Commitment to Education
XM Group emphasizes trader education, providing resources such as webinars,
tutorials, and articles. This focus helps traders improve their skills and
knowledge, enhancing their trading experience.
Range of Account Types
The broker caters to different trading styles and preferences by offering
various account types. This flexibility ensures that traders can choose an
account that aligns with their individual strategies and risk tolerance.
Suitable for All Levels
The combination of a user-friendly interface, educational resources, and
diverse trading options makes XM Group suitable for everyone, from novices
to seasoned professionals.
Pros and Cons of XM Group
| Pros | Cons |
|---|---|
| 1,000+ Traded Assets | Inactivity Fees |
| 0 Swaps Offered | Leverage Risk |
| Copy Trading* | No Fixed Spreads |
| Up to 1000:1 Leverage* | |
| Round-the-Clock Support |
Trust and Safety of XM Group
Safeguarding Your Investment
When it comes to trust and security, XM has taken significant steps to establish itself as a regulated and secure broker.
Regulation
XM Group is a regulated broker, with oversight from multiple reputable regulatory bodies. Regulation by these authorities ensures that XM adheres to strict financial and operational standards, offering traders an extra layer of protection.
Fraud Prevention Measures
XM Group employs advanced security measures to prevent fraud and unauthorized access. This includes encryption technology to safeguard sensitive data and prevent it from falling into the wrong hands. Regular security audits and assessments help maintain the integrity of the platform.
Client Fund Security
XM Group places a strong emphasis on client fund security. It maintains segregated accounts to keep clients’ funds separate from the broker’s operational funds. This measure ensures that clients’ funds remain protected, even in the unlikely event of the broker’s insolvency.
Risk Management
XM provides education and resources to help traders understand and manage risks associated with trading. This includes information on leverage, margin requirements, and risk management strategies.
Trading Point Group Entities’ Licenses
| Regulatory Body | Status |
|---|---|
| ASIC | Yes |
| CySEC | Yes |
| DFSA | Yes |
| FCA | Yes |
| FSCA | Yes |
| FSC | Yes |
Tradable Instruments of XM Group
Your Path to Market Opportunities
XM offers traders a diverse range of tradable instruments across various asset classes, enabling them to build diversified portfolios and access a wide range of market opportunities.
Overview of Tradable Instruments
| Instrument | Available |
|---|---|
| Commodities | Yes |
| Currencies | Yes |
| ETF | No |
| Futures | Yes |
| Indices | Yes |
| Stocks | Yes |
| Energies | Yes |
| Precious Metals | Yes |
| Cryptocurrencies* | Yes |
Important Notes
*Please note that products may vary between XM entities. For further information please visit the XM website.
*Please note that crypto CFDs are not available for clients registered under CySEC, ASIC, and MENA entities.
*Crypto-CFD trading is subject to regulatory oversight in Thailand. Residents should stay informed about any updates or changes in regulations that may affect their trading activities.
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XM Trading Account Types
Micro Account
| Feature | Details |
|---|---|
| Base Currency Options | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR |
| Contract Size | 1 Lot = 1,000 |
| Leverage | Up to 1000:1** |
| Negative Balance Protection | Yes |
| Spread on All Majors | As low as 1.6 Pips |
| Commission | None |
| Max Open/Pending Orders per Client | 300 Positions |
| Minimum Trade Volume | 0.1 Lots (MT4), 0.1 Lots (MT5) |
| Lot Restriction per Ticket | 100 Lots |
| Hedging Allowed | Yes |
| Swaps* | Yes |
| Islamic Account | Optional |
| Minimum Deposit | $5 |
Standard Account
| Feature | Details |
|---|---|
| Base Currency Options | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR |
| Contract Size | 1 Lot = 100,000 |
| Leverage | Up to 1000:1** |
| Negative Balance Protection | Yes |
| Spread on All Majors | As low as 1.6 Pips |
| Commission | None |
| Max Open/Pending Orders per Client | 300 Positions |
| Minimum Trade Volume | 0.01 Lots |
| Lot Restriction per Ticket | 50 Lots |
| Hedging Allowed | Yes |
| Swaps* | Yes |
| Islamic Account | Optional |
| Minimum Deposit | $5 |
Ultra Low Standard Account
| Feature | Details |
|---|---|
| Base Currency Options | EUR, USD, GBP, AUD, ZAR, SGD |
| Contract Size | Ultra Low Standard: 1 Lot = 100,000, Ultra Low Micro: 1 Lot = 1,000 |
| Leverage | Up to 1000:1** |
| Negative Balance Protection | Yes |
| Spread on All Majors | As low as 0.8 Pips |
| Commission | None |
| Max Open/Pending Orders per Client | 300 Positions |
| Minimum Trade Volume | Ultra Low Standard: 0.01 Lots, Ultra Low Micro: 0.1 Lots |
| Lot Restriction per Ticket | Ultra Low Standard: 50 Lots, Ultra Low Micro: 100 Lots |
| Hedging Allowed | Yes |
| Swaps* | Yes |
| Islamic Account | Optional |
| Minimum Deposit | $5 |
Shares Account
| Feature | Details |
|---|---|
| Base Currency Options | USD |
| Contract Size | 1 share |
| Leverage | No Leverage |
| Negative Balance Protection | Yes |
| Spread | As per the underlying exchange |
| Commission | Varies |
| Max Open/Pending Orders per Client | 50 Positions |
| Minimum Trade Volume | 1 Lot |
| Lot Restriction per Ticket | Depending on each share |
| Hedging Allowed | Yes |
| Swaps* | Yes |
| Islamic Account | Optional |
| Minimum Deposit | $10,000 |
Tailored to Your Trading Journey
XM offers diverse account types designed to cater to the needs of traders, whether they’re beginners or experienced professionals.
Overview of Account Types
| Account Type | Available |
|---|---|
| Demo Account | Yes |
| Islamic Account | Yes |
| Managed Account | No |
| Suitable for Beginners | Yes |
| Suitable for Professionals | Yes |
| US Trader | No |
Important Notes
Please note that account types vary between XM entities. For further information, please visit the XM website.
Commission and Fees
A Transparent Fee Structure
XM offers a transparent fee structure that traders can consider when evaluating their trading costs.
Fee Overview
| Fee Type | Details |
|---|---|
| Account Minimum | Starts from $5 |
| Trading Fees | Competitive spreads, starting from 0 pips |
| CFD Fees | Overnight financing fees may apply for holding CFD positions |
| Forex Fees | Earned from spread variations influenced by market conditions |
| Futures Fees | No traditional futures; only CFD trading available |
| Inactivity Fee | Low monthly fee for dormant accounts (inactive for more than 90 days) |
Why Open an XM Ultra-Low Account?
Benefits of the Ultra Low Account
| Benefit | Details |
|---|---|
| Zero Swaps | Swap-free trading available |
| Zero Commission | No commission on trades |
| Leverage | Up to 1000:1 |
| Spreads | As low as 0.8 pips on major pairs |
| Negative Balance Protection | Ensures you cannot lose more than your investment |
| Low Minimum Deposit | Accessible for traders with limited capital |
XM Deposit and Withdrawal Methods
No Fees on Transactions
XM offers a variety of deposit and withdrawal methods with no fees:
| Method | Details |
|---|---|
| Bank Transfer | No fees for deposits and withdrawals |
| Debit/Credit Card | No fees for deposits and withdrawals |
| Cryptocurrency | Deposit and withdrawal options available |
| Binance Pay | Supported for transactions |
| Skrill | Electronic payment method available |
| Neteller | Electronic payment method available |
| Perfect Money | Electronic payment method available |
XM Copy Trading Service
Overview
The XM Copy Trading service allows you to follow strategies without needing a VPS for standard accounts.
Key Features
| Feature | Details |
|---|---|
| Investor Role | Choose strategies to follow and decide how much to invest. |
| Strategy Manager Role | Create and share strategies with the community; earn profit share. |
| Partnership | XM Partners can be both Investors and Strategy Managers. |
| New Trader Accessibility | User-friendly platform that allows new traders to learn from experienced ones. |
Benefits for New Traders
Yes! The Copy Trading platform is intuitive and helps new traders participate in the markets while developing their own strategies.
XM Forex Islamic Accounts
About Forex Islamic Accounts
Forex Islamic accounts, also known as swap-free accounts, do not incur swap or rollover interest on overnight positions, in accordance with Islamic faith. These accounts are available for clients following the Muslim faith.
How to Open a Forex Islamic Account
| Step | Details |
|---|---|
| 1. Open a Trading Account | Sign up for a trading account with XM. |
| 2. Verify Your Account | Login to the Members Area and complete the verification process. |
| 3. Request an Islamic Account | Submit a request for the swap-free option. |
Account Features at a Glance
| Feature | Details |
|---|---|
| No Interest/Swap Charges | No overnight position fees. |
| No Spread Widening | No additional charges substituted for spread widening. |
| Unlimited Position Holding | Positions can be held indefinitely. |
| Leverage | Up to 1000:1. |
| Market Execution | 100% real-time market execution. |
| Trading Conditions | Same as standard trading account types. |
| Access to Platforms | Free and instant access to all trading platforms. |
| Client Support | 24/5 support from your Client Account Manager. |
Benefits
The XM Forex Islamic accounts stand out from those offered by other brokers, as XM imposes no additional charges, ensuring fair and ethical trading conditions.
Traders of Islamic faith are prohibited from paying interest; hence, XM avoids any practices of hidden fees or swaps disguised as other charges.
Free Forex Signals From the Guru – Avramis Despotis
Access and Benefits
| Benefit | Details |
|---|---|
| Unlimited Access | Available for live account holders in the Members Area. |
| Instrument Analysis | Download analysis for current and previous dates free of charge. |
| Daily Signals | Provided for instruments like EUR/USD, GBP/JPY, USD/JPY, and more. |
| Coverage | Daily signals for 10 financial instruments. |
| Signal Delivery | Delivered twice a day (morning and afternoon calls). |
| Access for Demo Holders | Demo account holders can register for a live account to access signals. |
About Avramis Despotis
| Qualification | Details |
|---|---|
| Certified Financial Technician | MSc from Athens University of Economics and Business. |
| Educational Background | BSc in Economics from University College London. |
| Trading Experience | Extensive experience in Forex, Money Markets, and more. |
| Teaching Experience | Taught over 20,000 traders in Europe and the Middle East. |
| Clients | Includes major banks like HSBC, Deutsche Bank, and Barclays Bank. |
XM Awards and Noteworthy Events
2024
| Award/Event |
|---|
| Awarded Outstanding Global Forex Broker by Capital Finance International Magazine |
| Awarded Outstanding Customer Service Global by Capital Finance International Magazine |
| Awarded Best FX Service Provider by City of London Wealth Management Awards 2024 |
2023
| Award/Event |
|---|
| Awarded Best FX Customer Service by World Finance Forex Awards 2023 |
| Awarded Best FX Broker, Europe by World Finance Forex Awards 2023 |
| Awarded Best FX Broker, Australasia by World Finance Forex Awards 2023 |
| Awarded Best FX Broker, Latin America by World Finance Forex Awards 2023 |
| Awarded Best FX Broker, Middle East by World Finance Forex Awards 2023 |
| Awarded Most Reliable Broker, Most Transparent Broker & Best Customer Support by CFI.co, April 2023 |
| Awarded Best CFD Provider by City of London Wealth Management Awards 2023 |
2022
| Award/Event |
|---|
| Awarded Best CFDs Broker in MENA Region 2022 by Forex Expo Dubai |
| Awarded Best Swap Free Account in MENA Region 2022 by Forex Expo Dubai |
| Awarded Best Customer Support by CFI.co 2022 |
| Awarded Global Forex Broker of the Year and Best Forex Trading Support at Global Forex Awards 2022 – Retail |
| Awarded Most Reliable Broker and Most Transparent Broker by CFI.co 2022 |
| Awarded Best Forex Trading Platform by Online Money Awards 2022 |
| Awarded Best FX Broker Europe by World Finance Forex Awards 2022 |
| Awarded Best FX Broker Australasia by World Finance Forex Awards 2022 |
| Awarded Best FX Broker Latin America by World Finance Forex Awards 2022 |
| Awarded Best FX Broker Middle East by World Finance Forex Awards 2022 |
| Awarded Best Mobile App by Financial Expo Egypt 2022 |
| Awarded Best Crypto CFDs by Financial Expo Egypt 2022 |
| Awarded Best FX Service Provider by City of London Wealth Management Awards (COLWMA) 2022 |
2021
| Award/Event |
|---|
| Awarded Most Popular Broker 2021 by FOLLOWME Trading Community 2021 |
| Awarded Best Affiliate Program by Smart Vision Investment Expo Egypt 2021 |
| Awarded Best FX Educational Broker in the MENA region by Dubai Expo Awards 2021 |
| Awarded Global Forex Broker of the Year by Global Forex Awards 2021 — Retail |
| Awarded Most Trusted Forex Broker — Global by Global Forex Awards 2021 — Retail |
| Awarded Most Reliable Broker and Most Transparent Broker by CFI.co 2021 |
| Awarded Best FX Broker for Europe by World Finance 2021 |
| Awarded Best FX Broker for Australasia by World Finance 2021 |
| Awarded Top 10 Popular Broker by FOLLOWME 2021 |
| Awarded Best Trading Experience award by Ultimate Fintech 2021 |
| Awarded Best Retail Forex Broker award by Global Forex Awards 2021 — B2B |
| Awarded Best FX Service Provider award by COLWMA 2021 |
2020
| Award/Event |
|---|
| Awarded Silver award for Covid-19 HR Action Plan — Business as Usual by Cyprus HR Awards 2020 |
| Awarded Best Broker in Customer Service by FX168 |
| Awarded Global Forex Broker of the Year by Global Forex Awards 2020 |
| Awarded Best Forex Affiliate Broker Programme — Europe by Global Forex Awards 2020 |
| Awarded Most Reliable Broker – Global by CFI.co |
| Awarded Most Transparent Broker – Global by CFI.co |
| Awarded Best Online CFD & FX Trading Broker – Global by Global Business Awards 2020 |
| Awarded Best Customer Service Experience – Global by Global Business Awards 2020 |
| Awarded Best FX Broker, Europe by World Finance Awards 2020 |
| Awarded Best FX Broker, Australasia by World Finance Awards 2020 |
| Acquires Gold accreditation from Investors in People |
| Awarded Best FX Service Provider by City of London Wealth Management Awards (COLWMA) 2020 |
2019
| Award/Event |
|---|
| Receives Fastest Growing Broker 2019 award from Followme Social Trading Network |
| Participates at ITForum 2019 investment and trading forum in Milan, Italy |
| Hosts 7th Anniversary Opulent Gala Dinner in Kuala Lumpur, Malaysia |
| Hosts 6th Anniversary Grand Gala in Jakarta, Indonesia |
| Receives Global Forex Broker of the Year award from Global Forex Awards 2019 |
| Receives Most Trusted Asian Forex Broker award from Global Forex Awards 2019 |
| Hosts 5th Anniversary Grand Gala in Bangkok, Thailand |
| Attends Investing Roma international financial exhibition in Rome, Italy |
| Attends Salon du Trading international trade fair in Paris, France |
| Receives Best Broker award by FinTech Age Awards 2019 |
| Awarded as Best FX Broker, Europe by World Finance Awards 2019 |
| Awarded as Best FX Broker, Australasia by World Finance Awards 2019 |
| Participates at ITForum 2019 financial exhibition in Rimini, Italy |
| Participates at The Forex Day Financial Exhibition in Madrid, Spain |
| Receives Best Customer Service Global 2019 by CFI.co |
| Receives Best Market Research and Education Global 2019 by CFI.co |
| Participates at FPG MoneyExpo Trade Fair in Prague, Czech Republic |
| Attends Invest Trade Fair and Congress for Finance and Investment in Stuttgart, Germany |
| Attends Salon de l’Analyse Technique in Paris, France |
| Attends Investing Napoli 2019 Trade Fair in Naples, Italy |
| Attends Invest Cuffs 2019 Finance and Investment Exhibition in Krakow, Poland |
| Awarded Best FX Service Provider by City of London Wealth Management Awards (COLWMA) 2019 |
| Hosts 1st Anniversary Festive Gala in Mexico City, Mexico |
2018
| Award/Event |
|---|
| Hosts 4th Anniversary Grand Gala in Bangkok, Thailand |
| Participates at ITForum 2018 investment and trading expo in Milan, Italy |
| Participates at World of Trading financial exhibition in Frankfurt, Germany |
| Sponsors exclusive Investors’ Gala in London, UK |
| Hosts 6th Anniversary Grand Gala in Kuala Lumpur, Malaysia |
| Attends Cairo Investment Expo as Diamond Sponsor in Egypt |
| Awarded for Best Forex Customer Service 2018 by Shares Magazine’s UK Forex Awards |
| Awarded for Best Market Research & Education by CFI.co |
| Awarded as Best FX Broker Europe for 2018 by World Finance Magazine |
| Sponsors Investors’ Gala Event in Rome, Italy |
| Participates at The Forex Day Financial Exhibition in Madrid, Spain |
| Participates at ITForum 2018 financial exhibition in Rimini, Italy |
| Sponsors Annual Investor’s Gala in Warsaw, Poland |
| Sponsors Investors’ Gala Night in Frankfurt, Germany |
| Attends Money Show Financial Exhibition in Thessaloniki, Greece |
| Participates at Invest Trade Fair and Congress for Finance and Investment 2018 in Stuttgart, Germany |
| XM is voted Best International Broker in the MENA Region |
| Attends Money Show Financial Expo in Athens, Greece |
2017
| Award/Event |
|---|
| Hosts 3rd Anniversary Gala Event in Bangkok, Thailand |
| Participates at ITForum 2017 financial exhibition in Milan, Italy |
| Attends World of Trading financial exhibition in Frankfurt, Germany |
| Hosts 5th Anniversary Gala Event in Kuala Lumpur, Malaysia |
| Awarded as Best Forex Execution Broker by Shares Magazine’s UK Forex Awards |
| Hosts 6th Anniversary Grand Gala Event in Shanghai, China |
| Hosts Live Grand Finale of the One Million Forex World Championship in Bangkok, Thailand |
| Awarded as Best FX Broker Europe for 2017 by World Finance Magazine |
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2016
| Award/Event |
|---|
| Awarded Best Forex Broker in Asia by Global Forex Awards 2016 |
| Hosts 2nd Anniversary Gala Event in Bangkok, Thailand |
| Participates at ITForum 2016 financial exhibition in Milan, Italy |
| Hosts 4th Anniversary Gala in Kuala Lumpur, Malaysia |
| Awarded Best Customer Service by Shares Magazine’s UK Forex Awards |
2015
| Award/Event |
|---|
| Awarded Best Forex Broker in the Middle East by Global Forex Awards 2015 |
| Hosts 1st Anniversary Gala in Bangkok, Thailand |
| Participates at Forex Expo 2015 in Dubai, UAE |
2014
| Award/Event |
|---|
| Launched XM Trading Platform |
| Participates at iFX EXPO in Limassol, Cyprus |
| Awarded Best New Forex Broker by Forex Awards 2014 |
2013
| Award/Event |
|---|
| Launch of XM brand under Trading Point of Financial Instruments |
| Participates at Dubai Forex Expo 2013 |
2012
| Award/Event |
|---|
| Established Trading Point of Financial Instruments |
| Participated in various financial expos across Europe |
2011
| Award/Event |
|---|
| Launch of Trading Point brand |
| Participated in the Forex Trading Expo in London |
2010
| Award/Event |
|---|
| Introduced innovative trading tools and services |
| Participated in the iFX Expo in Cyprus |
2009
| Award/Event |
|---|
| Foundation of Trading Point of Financial Instruments |
| Started operations in the Forex market |
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