XM Review: Key Features for 2023

Since 2009, XM has grown to be a major, respected international investment firm. They have served over 10 million customers and are a leading business in the industry. Check the XM review from Brokers Times.

XM Main Highlights

🚀 Minimum deposit:	5$ or more depending on account type
⚖️ Leverage:	Up to 1:1000 (The maximum leverage for clients registered under the EU and AU regulated entity of the Group is 30:1)
🛡️ Regulations & Licenses:	CySEC, ASIC, IFSC, DFSA
💵 Deposits/Withdrawals:
💻 Trading platform:	MetaTrader 4, MetaTrader 5, XM mobile app
🌙 Islamic Account:	Yes
🔗 Main domain:	xm.com

A Look at XM

XM Group is an online trading community that has been providing services since 2009. It is officially registered as a service provider under the company Trading Point of Financial Instruments Pty Ltd.

Currently, XM is regulated by two financial commissions – the Cyprus Securities and Exchange Commission (CySec 120/10) and the Australian Securities and Investments Commission (ASIC 443670). In 2017, it established XM Global which is now regulated by the International Financial Services Commission (IFSC/60/354/TS/19).

The group has also received recognition for its work, having been awarded The Best Crypto CFDs at the Financial Expo Egypt in 2022.

XM is a platform that provides online trading services to a large number of customers. As of 2021, it has registered over 1.5 million traders from more than 190 countries. XM strives to provide fair practices, customized investment opportunities, and exceptional customer service.

It offers various trading platforms, tools, and services to help its customers achieve their financial goals. XM Group is headquartered in Cyprus and has entities in Sydney, Australia, and the United Kingdom. It is regulated in the UK by the Financial Conduct Authority (FCA) under the name Trading Point of Financial Instruments UK Ltd. In 2017, XM Global Limited was regulated in Belize.

XM Trading Account Types

XM offers four types of user accounts that enable its users to have up to 200 open or pending positions.

Micro Account

A Micro user account gives the ability to trade in 8 different currencies: USD, GBP, EUR, AUD, CHF, HUF, JPY, and PLN. To begin trading, a minimum deposit of $5 is required. One Micro lot consists of 1,000 units of the base currency.

Standard Account

A Standard account can be funded with AUD, USD, GBP, CHF, EUR, JPY, PLN, and HUF. It requires a minimum deposit of $5 to start trading with any of these base currencies. One Standard lot is equivalent to 100,000 units of the base currency.

Zero Account

Zero trading account offers three base currencies: EUR, USD, and JPY. You need to deposit $10 in your account to activate it. Each Zero lot is equivalent to 100,000 units of the base currency.

Ultra-Low Account

For Ultra-Low trading accounts, you can trade in GBP, EUR, USD, AUD, SGD, and ZAR. You need to deposit at least $50 to start trading. Each Standard Ultra lot is worth 100,000 units of the base currency, while each Micro Ultra lot is worth 1,000 units of the base currency. Please note that the XM Ultra-Low account is only available to certain members of the XM Group.

Islamic Account

XM’s Islamic forex accounts are different from those offered by other brokers. Unlike other companies, XM does not add extra fees to these accounts by increasing the spread. This is to comply with Islamic laws, which forbid traders from paying interest. However, other fees that may still cover interest are sometimes charged, known as swap-free in disguise.

XM Top Features

VPS Servers

Clients of XM can get a Virtual Private Server (VPS) close to XM’s London data center. This VPS provides fast trading speed and eliminates any obstacles that could affect trading. To use the free VPS, you must have a minimum balance of $500 and a monthly trading volume of 2 lots or 200 micro lots. Requirements for free VPS may differ for each XM Group entity.

Trade on Margin

Traders who feel comfortable taking on more risk and have more experience can trade using margin. This means they need to put up less money to get a greater return on their investment. However, losses can also be multiplied, so XM has introduced measures like negative balance protection and margin calls to help prevent big losses.

No Fees or Commissions

XM offers several types of trading accounts, including Standard, Micro, Ultra-Low, Shares, and XM Zero. Most of these accounts do not require a trading commission. However, the XM Zero account has a commission of $3.5 per $100,000 traded. Note that XM Zero, Ultra Low, and Shares accounts are not available to all entities of the XM Group.

XM Regulations and Licenses

XM operates with licenses from different financial authorities to serve customers from all over the world. These licenses, from ASIC, CySEC, FSC, and DFSA, make sure that XM is responsible to its customers and keeps customer funds safe. Funds are stored in secure banks at the highest level.

XM Trading Platforms

MetaTrader 4

MetaTrader 4 is a widely used trading platform that helps new Forex traders. Over 85% of brokers rely on it to better understand and explore trading activities.

It is designed with an easy-to-use layout, featuring a left panel with real-time market information, a chart window to view market developments, and a terminal window for market positions, balance, news, and emails from the broker. It is available for Windows, iOS, and Android operating systems.

MetaTrader 5

MetaTrader 5 is an advanced trading platform designed for large trading companies. Aavailable on the web, desktop, and mobile, and has features like trading robots and a database of trade strategies. It also has a virtual hosting and copies trading service and is available in 31 languages.

And suitable for advanced traders, day-time traders, and those of all account types, and offers 21 timeframes and eight types of pending orders. It also has an economic calendar to track major market developments.

Mobile apps

XM Group allows its customers to access the user versions of the MetaTrader platforms through their smartphones and other mobile devices. The MT4 and MT5 mobile apps are available for both iOS and Android and can be downloaded from the Google Play Store and Apple App Store.

A proprietary mobile app for XM Group is expected to be released in the near future. XM mobile trading also helps customers to monitor their trades from afar. The web-based version of the MetaTrader platforms can also be accessed via mobile web browser apps and supports one-click XM trading.

Financial Instruments by XM

Forex

50+ currency pairs – majors, crosses and exotics.

Zero Swap on Ultra Low Accounts.

Trade with NO hidden charges.

Cryptocurrencies

Trade up to 1:250 leverage.

Tight spreads and NO re-quotes.

Zero Swap Product.

Stock CFDs

Instant access to global economies.

Cost-effective and direct access to the global equity markets.

Commodities

Investing in commodity markets is a popular way for people to diversify their portfolios and manage risk. These markets involve trading contracts for items like sugar, wheat, and corn. Investing in these markets can protect both buyers and sellers from large price changes, and is a good way to protect against economic instability or inflation.

Equity indices

• Trade with up to 1:500 leverage.
• NO extra fees apply.
• Speculation on market uptrends/ downtrends.

Metals

• Trade gold and silver online with no-requotes.
• Leverage up to 1000:1.
• Zero Swap on Ultra Low Accounts.

Oil & Energies

• Most actively traded commodity worldwide.
• Margin of as low as 5 USD.

XM Deposits & Withdrawals

Withdrawals

XM will process any withdrawals requested within 24 hours. There are no charges for taking out your money. You can take it out or keep it in the XM wallet or a different eWallet.

To have your withdrawal done immediately, you must not ask for it to be requoted. In certain cases, XM also gives fee-free and commission-free deposits and withdrawals.

Deposits

When a new account is successfully registered, users need to make a deposit of at least $5 (Micro and Standard accounts) or $100 (Zero accounts) to use the broker services. This deposit is not refundable. People may deposit money through electronic payment gateways, credit cards, and other services. XM charges may apply, depending on the currency they use.

If needed, the platform can automatically change the local currency into the supported base currency.

Related article: IC Markets Review 2023 | Brokers Times

Services offered by XM

The company provides a range of services related to market research.

XM TV

This service provides a daily real-time commentary of the markets to its users. It is created by CMC Markets and Saxo Bank, two leaders in the trading video broadcasting industry.

The market research video content is broadcasted outside of trading platforms, and the group also offers an end-to-end video content package for its traders. The videos provide market analysis, interviews, and audio podcasts to help traders access the content in different formats.

Research and Educational Articles

The group provides its market news content in written articles on its website. These articles are filtered by asset classes and provide market research information. The articles also include educational information with daily market recaps and fundamental and technical analysis.

Additionally, the group offers a series of 53 written articles in six chapters that cover 13 lessons about forex trading. However, there is room for more content on CFD education.

Webinars

This service is provided by a team of 49 webinar instructors. These sessions are held every week in 19 different languages. The instructors are careful to adjust to different time-zones and create a detailed schedule suitable for different levels of subscribers and traders.

XM Reasearch & Education

Research

• Technical analysis.
• Forex previews.
• Special reports.
• Market comment.
• Stock market news.

Learning center

• Live education.
• Live education schedule.
• Educational videos.
• Forex webinars.
• Platform tutorials.

FAQs