It is important to know about the broker before investing. tradingcritique.com offers an updated broker review of XM broker this 2023. XM Broker is one of the best award-winning brokers. They offer numerous trading platforms along with financial instruments.
- Minimum Deposit: $5
- Max Leverage: 888:1
- Regulated by: CySEC, IFSC
- Market Asset: Forex, Stocks, Commodities, Indices, Metals, Energies.
- Customer support: 24/5
- Deposit Fees: 0
XM (https://www.xm.com/) is an online global CFD and Forex broker. It was founded in 2009 with Belize as its headquarters. Currently, the company is built with over 450 experts with long years of experience in the financial sector. The company was fully regulated and licensed by CySEC and IFSC. XM has more than 5,000,000+ traders in 196 countries. They provide 1000+ trading instruments with 16 trading platforms; you can trade anywhere and anytime with this platform.
XM Global Limited does not provide services to certain countries, such as the United States of America, Canada, Israel, and the Islamic Republic of Iran. XM Provides 24/5 hours of live support with the help of Personal Account Managers. They offer customer service in 25 languages through the FAQ page, live chat, Email, and Phone calls.
Regulation and Trustability
XM global ltd was regulated and licensed by Cyprus Securities and Exchange Commission (CySEC), International Financial Services Commission (IFSC). They have received many awards in the field of brokerage and service.
Table 1: Various regulations of XM.com
| Country | Company name | Registration details | Regulations |
|---|---|---|---|
| Belize | XM Global Limited | License Number – 000261/158 | International Financial Services Commission (IFSC) |
| Cyprus | Trading Point of Financial Instruments Limited | License Number – 120/10 | Cyprus Securities and Exchange Commission (CySEC) |
Recent Awards
XM received different awards for various services. These awards represent the excellent service of the XM broker.
Table 2: 2021 Awards received for the Excellency of XM for various domains
| Awards | Awarded by |
|---|---|
| Best Trading Experience 2021 | Ultimate Fintech |
| Best FX Service Provider 2021 | City of London Wealth Management Awards |
| Best Retail Forex Broker 2021 | Global Forex Awards |
| Best Market Research and Education Global 2019 | Capital Finance International Magazine (CFI.co) |
| Best Customer Service Global 2019 | Capital Finance International Magazine (CFI.co) |
Image 2: Award list present in the XM website
Investments, Products, and Instruments
XM offers a range of over 55 currency pairs and CFDs on precious metals, energies, and equity indices with the most competitive spreads. They provide 16 trading platforms with 1000+ trading instruments. We will see in the following table their highlights.
Table 3 : Various trading instruments available in XM
| Trading types | Features to trade in EToro | |||||
|---|---|---|---|---|---|---|
| Forex | XM offers to trade 55+ currency pairs (majors, crosses, and exotics).They provide the MetaTrader 4 and MetaTrader 5 trading platforms.Maximum Leverage 888:1Leverage 1:50 for EURDKK, EURHKD, GBPDKK, USDDKK, USDHKD, USDCNH, EURRUB, and USDRUB currency pairs.Leverage 1:100 for USDTRY, EURTRY currency pairs.Trading hours 24/5No hidden chargeAvailable Forex pairs are | |||||
| AUDCADAUDCHFAUDJPYAUDNZDAUDUSDCADCHFCADJPYCHFJPYCHFSGDEURAUDEURCADEURCHFEURDKKEURGBPEURHKDEURHUFEURJPYEURNOKEURNZD | EURRUBEURSEKEURSGDEURTRYEURUSDEURZARGBPAUDGBPCADGBPCHFGBPDKKGBPJPYGBPNOKGBPNZDGBPSEKGBPSGDGBPUSDNZDCADNZDCHFNZDJPY | NZDUSDSGDJPYUSDCADUSDCHFUSDCNHUSDDKKUSDHKDUSDHUFUSDJPYUSDMXNUSDNOKUSDPLNUSDRUBUSDSEKUSDSGDUSDTRYUSDZAREURPLNNZDSGD | ||||
| Stocks | 1200+ Stocks CFDsDirect access for the world equity marketsSuits both short and long-term trading strategiesSpeculation on market uptrends/ downtrendsGoing short/long according to market movesNO extra feesCFDs on stocks of more than 60 companies are available.Available Stocks CFDs | |||||
| Admiral Group plc (ADML.L)Aggreko plc (AGGK.L)Anglo American plc (AAL.L)Antofagasta plc (ANTO.L)Ashmore Group (ASHM.L)Ashtead Group plc (AHT.L)Associated British Foods plc (ABF.L)Aviva (AV.L)Babcock International Group plc (BAB.L)BAE (BAES.L)Balfour Beatty plc (BALF.L)Barclays (BARC.L)Barratt (BDEV.L)Beazley plc (BEZG.L)Bellway plc (BWY.L)Berkeley Group Holdings (BKGH.L)BHP Group PLC (BHPB.L)BP (BP.L)British American Tobacco PLC (BATS.L)Britvic plc (BVIC.L)BT (BT.L)Bunzl plc (BNZL.L)Burberry (BRBY.L)Cairn Energy PLC (CNE.L)Capita (CPI.L)Capital & Counties Properties plc (CAPCC.L)Carnival Corp & plc (CCL.N)Centamin plc (CEY.L)Centrica PLC (CNA.L)Cineworld Group plc (CINE.L) | Close Brothers Group plc (CBRO.L)Compass Group PLC (CPG.L)ConvaTec Group PLC (CTEC.L)Crest Nicholson Holdings (CRST.L)CRH PLC (CRH.L)Croda International plc (CRDA.L)Daily Mail and General Trust (DMGOa.L)DCC plc (DCC.L)Derwent London (DLN.L)Diageo PLC (DGE.L)Direct Line Insurance Group (DLGD.L)Dixons Carphone plc (DC.L)Domino’s Pizza Group (DOM.L)Drax Group plc (DRX.L)DS Smith plc (SMDS.L)EasyJet (EZJ.L)Electrocomponents plc (ECM.L)Essentra PLC (ESNT.L)EVRAZ plc (EVRE.L)Experian plc (EXPN.L)Ferguson plc (FERG/L)FirstGroup PLC (FGP.L)FlutterEntertainment (FLTRF.L)Frasers Group PLC (FRAS.L)Fresnillo plc (FRES.L)Glencore PLC (GLEN.L)Great Portland Estates (GPOR.L)Greencore Group plc (GNC.L)Greggs plc (GRG.L)GSK (GSK.L) | Halma plc (HLMA.L)Hargreaves Lansdown plc (HRGV.L)Hays plc (HAYS.L)Hikma Pharmaceuticals (HIK.L)Hiscox Ltd. (HSX.L)HomeServe PLC (HSV.L)Howden Joinery Group plc (HWDN.L)HSBC (HSBA.L)IMI plc (IMI.L)Imperial Brands plc (IMB.L)Inchcape plc (INCH.L)Informa plc (INF.L)InterContinental Hotels Group PLC (IHG.L)Intermediate Capital Group (ICP.L)Intertek Group plc (ITRK.L)Investec (INVP.L)ITV PLC (ITV.L)J Sainsbury (SBRY.L)John Wood Group PLC (WG.L)Johnson Matthey (JMAT.L)Jupiter Fund Management (JUP.L)Kingfisher PLC (KGF.L)L&G (LGEN.L)Lancashire Holdings Ltd (LRE.L)Land Securities Group plc (LAND.L)Lloyds (LLOY.L)London Stock Exchange Group PLC (LSEG.L)Man Group (EMG.L)Marks & Spencer (MKS.L)Marston’s plc (MARS.L) | ||||
| Commodities | There are no stock exchange fees for commodity trading.Immediate exposure to global economiesSpeculation on future uptrend/downtrend market price movementsDeposit is lowSuitable for new tradersSpread start from 0.0006Margin percentage is 2%Commodity products in XM | |||||
| US CocoaUS CoffeeUS CornUS Cotton No. 2High Grade CopperUS SoybeansUS Sugar No. 11US Wheat | ||||||
| Indices | Instant access for global marketsCost-effective tradingNo extra feeMT4 and MT5 trading platformsCash Indices and Future Indices availableConvenient trading hoursLow spreadsThe indices trading system is suitable for both short and long-term trading strategies. | |||||
| Futures Indices CFDs | ||||||
| EU50FRA40GER40JP225SWI20 | UK100US100US30US500USDX | |||||
| Cash Indices CFDs | ||||||
| AUS200CashEU50CashFRA40CashGER40CashHK50Cash | IT40CashJP225CashNETH25CashSPAIN35CashSWI20Cash | UK100CashUS100CashUS30CashUS500Cash | ||||
| Metals | No requotes for trade on Gold and SilverHighly liquid marketsNo extra fee for tradeGo short or long trade with the same accountMaximum leverage 888:1All kinds of accounts are availableMT4 and MT5 trading platformsFlexible trading hoursSpot Metals InstrumentsGoldSilverOther MetalsPalladiumPlatinum | |||||
| Energies | XM offers to trade with Trade oil, one of the most actively traded commodities in the world.You can trade with Energies in short or long hours according to market movements.XM offers to trade with energies at a low margin of up to US $5.High volatilityHigher price movementNo overnight fee on oil CFDsNo extra feeAvailable Energy assets on XMBrent Crude OilLondon Gas OilNatural GasWTI OilWTI Oil Mini | |||||
Image 3: Market assets and instruments in XM
XM Trading Platform
XM Broker provides trading platforms for customers to trade on Mobile and PC. They offer world-famous trading platforms such as MetaTrader 4 (MT 4) and MetaTrader 5 (MT 5). These platforms are fully customizable and run on a variety of devices.
MetaTrader 4
MetaTrader 4 (MT 4) trading platform runs on various devices like PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet. All these 8 platforms can be run with 1 single login access. It contains historical database management and historical data export/import.
MT4 in XM provide 1000+ instruments with Forex, CFDs, and Future. XM MT 4 generates various custom indicators and different periods. It works with expert advisors, built-in and custom indicators.
MT4 does not offer to trade on stock CFDs.
XM MT4 Available on,
- PC
- Mac
- Multiterminal
- WebTrader
- iPhone (Smart Phones)
- Android (Smart Phones)
- iPad (Tablet)
- Android (Tablet)
XM MT4 Features
Over 1000 Instruments Including Forex, CFDs and Futures
- Spreads as low as 0.6 pips
- 1 Click Trading
1 Single Login Access to 8 Platforms
Full EA (Expert Advisor) Functionality
- Technical Analysis Tools
50 indicators and charting tools
- 3 Chart Types
Micro Lot Accounts (Optional)
- Hedging allowed
- VPS Functionality
MetaTrader 5
The XM MetaTrader 5 also offers pioneering features that the MetaTrader 4 can provide. It is designed to run on PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet. All these 7 platforms can be run with 1 single login access. This makes it an excellent multi-asset destination as it offers an additional 300+ shares of CFDs. MT5 contains more than 80 analytical objects.
XM MT5 Available on,
- PC
- Mac
- WebTrader
- iPhone (Smart Phones)
- Android (Smart Phones)
- iPad (Tablet)
- Android (Tablet)
XM MT5 Features
- Over 1000 Instruments
1 Single Login to 7 Platforms
- Spreads as low as 0.6 pips
- Full EA Functionality
- One-Click Trading
- All Order Types Supported
Over 80 Technical Analysis Objects
Market Depth of Latest Price Quotes
- Hedging Allowed
Image 4 : MetaTrader 4 and MetaTrader 5 in XM
Mobile Trading Platform
XM offers to trade with Mobile Platform. Both MT4 and MT5 trading platforms are designed to run on mobile. It is very simple and flexible when trading with the mobile app.
The mobile application has features like 30 Technical Indicators and Built News Functionality with Push Notifications.
The app is available for download from the Apple App Store (iOS) and Google Play Store (Android). It’s completely free.
XM Trading Websites – Continent wise
XM website is available in many languages. All the languages and its websites are listed in the below table.
Table 4 : Multilingual trading websites of XM segregated continent wise
| No | eToro Trading Websites | Countries | Website Language |
|---|---|---|---|
| 1. | XM (Main) | Global | English |
| Continent 1 – EUROPE | |||
| 2. | XM UK | United Kingdom | English |
| 3. | XM Français | France | French |
| 4. | XM Italiano | Italy | Italian |
| 5. | XM Čeština | Czechia | Czech |
| 6. | XM Español | Spain | Spanish |
| 7. | XM Deutsch | Germany | German |
| 8. | XM Português | Portugal | Portuguese |
| 9. | XM på Svenska | Sweden | Swedish |
| 10. | XM Polski | Poland | Polish |
| 11. | XM Magyar | Hungary | Hungarian |
| 12. | XM Ελληνικά | Greece | Greek |
| Continent 2 – ASIA | |||
| 13. | XM 简体中文 | China | Simplified Chinese |
| 14. | XM 繁體中文 | China | Traditional Chinese |
| 15. | XM Indonesia | Indonesia | Indonesia |
| 16. | XM 한국인 | South Korean | Korean |
| 17. | XM Melayu | Malaysia | Melayu |
| 18. | XM ภาษาไทย | Thailand | Thai Language |
| 19. | XM Русский | Russia | Russian |
| 20. | XM Việt | Vietnam | Vietnamese |
| 21. | XMاردو | Pakistan | Urdu |
| 22. | XM বাংলা | Bangladesh | Bengali |
| 23. | XM Filipino | Philippines | Filipino |
| Continent 3 – AUSTRALIA | |||
| 24. | XM Australia | Australia | English |
XM Broker review – Account Types
XM offers 4 types of accounts based on currencies to trade through forex. They also provide Negative balance protection for all types of accounts. No fees are charged for any account other than the Shares account.
The Account types provided by XM are,
- Micro Account
- Standard Account
- XM Ultra-Low Account
- Shares Account
Table 5 : Various trading accounts available in XM
| Micro Account | Standard Account | XM Ultra Low Account | Shares Account | |
|---|---|---|---|---|
| Base Currency Options | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | EUR, USD, GBP, AUD, ZAR, SGD | USD |
| Max. Leverage | 1:888 | 1:888 | 1:888 | – |
| Negative balance protection | yes | yes | yes | yes |
| Minimum trade volume | 0.1 Lots (MT4) 0.1 Lots (MT5) | 0.01 Lots | Standard Ultra: 0.01 Lots Micro Ultra: 0.1 Lots | 1 Lot |
| Spread on all majors | As Low as 1 Pip | As Low as 1 Pip | As Low as 0.6 Pips | As per the underlying exchange |
| Hedging | Allowed | Allowed | Allowed | N/A |
| Maximum open/pending orders per client | 300 Positions | 300 Positions | 300 Positions | 50 Positions |
| Contract Size | 1 Lot = 1,000 | 1 Lot = 1,000 | Standard Ultra: 1 Lot = 100,000 Micro Ultra: 1 Lot = 1,000 | 1 share |
| Lot restriction per ticket | 100 Lots | 50 Lots | Standard Ultra: 50 Lots Micro Ultra: 100 Lots | Depending on each share |
| Commission | 0 | 0 | 0 | yes |
| Minimum Deposit | $5 | $5 | $5 | $10,000 |
| Islamic Account | Optional | Optional | Optional | Yes |
Islamic Account
XM offers Islamic accounts to customers following the Muslim faith. Forex Islamic accounts are also called non-transferable accounts because they do not have overnight transfers or rollover interest, which is against Islamic religious law.
Features of XM Islamic Account
- No interest/swap charges on overnight positions
- No spread widening
- Leverage up to 888:1
- 100% real-time market execution
- Free and instant access to all trading platforms
- 24/5 dedicated support from your Client Account Manager
Image 6 : Islamic account in XM
Fees, Commissions, and Bonus
The minimum amount of deposit/withdrawal is $5. XM follows multiple payment methods in all countries. You can deposit money in all types of currency and it will automatically be converted into base currency. The deposit time is instant for Credit card or e-wallet transfers, but not instant for bank wire transfers.
They charge when withdrawing money up to $200. The process is completed on the same day as withdrawal through an e-wallet. When using bank wire or Debit/Credit Card transactions the withdrawal time process takes a maximum of 2 to 5 business days.
You can able to transfer money from one trading account to another trading account. But both accounts must be in your name or the account must be verified. While using internal transfer, if the base currency is different, the currency will be converted into equivalent. It is an instant process.
BONUS
XM provides three types of bonus options for traders.
- Trading Bonus
- Deposit Bonus (Up To $5,000)
- Refer A Friend
A Trading Bonus is available for new clients. They provide a bonus amount of $30 or the equivalent amount of other currencies. This bonus amount is added to your account. You can trade XM products with the bonus amount, but you can’t withdraw it.
(Equivalent to: 30 AUD, 25 EUR, 7000 HUF, 25 CHF, 20 GBP, 3000 JPY, 1000 RUB, 100 PLN, 40 SGD, 347 ZAR)
Deposit Bonus: XM provides a 20% bonus for every deposit from $5 to $25,000. The maximum amount of bonus limit is $5,000 for a $25,000 deposit. This type of bonus amount cannot be withdrawn. After deposit, 20% of the bonus amount is instantly credited to your account.
Refer a Friend – XM offers a referral friend bonus amount up to $35 for every friend referral. It was categorized into three stages.
- Refer 1-15 Friends: earn $25 per friend
- Refer 16-30 Friends: earn $30 per friend
- Refer 30+ Friends: earn $35 per friend
All of these bonuses are subject to the Terms and Conditions of the XM.
Customer Support
XM serves 24/5 customer support via Email, Live chat, and phone calls. They offer professional and personal advisers in 30+ languages. Most of the questions are answered in the FAQ page.
Contact Number – +501 223-6696
Languages in which XM provides Email customer support are,
- English
- Simplified Chinese
- Traditional Chinese
- Indonesia
- Korean
- Malay
- Thai Language
- Russian
- Vietnamese
- Urdu
- Bengali
- Filipino
- French
- Italian
- Czech
- Spanish
- German
- Portuguese
- Swedish
- Polish
- Hungarian
- Greek
Education and Research
XM’s Research and Education Center provides daily updates on all major trading sessions with multiple daily descriptions of all the important market events that shape global markets. The Research and Education section was split into 3 categories, such as Research, Learning Center, and Tools.
Inch by inch, they explain to you how to trade with MT4 and MT5 with tutorial videos. They provide live news about market assets, technical summaries, economic calendars, podcasts, and XM TV in the Research section.
In the Learning Center, they offer the following topics such as,
- XM Live
- Live Education
- Live Education Schedule
- Educational Videos
- Forex Webinars
- Platform Tutorials
- Forex Seminars.
Image 8: Education and research center in XM
