XM Review; Billed as the next generation broker for online trading and commodity trading, XM Global Webtrade is suitable for experienced and seasoned traders.

Traders can start with a real account of the trading software, or test the waters with a demo account platform with $100,000USD of virtual currency. Highlights of this particular broker’s services include automated trading, no hidden fees or commissions and fast order execution, with 99.35% happening in under 1 second. Sign up and log in today!

Company details

XM Group (XM) is a group of regulated online brokers. The Financial Instruments Trading Point was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10). Trading Point Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670).

XM Global was established in 2017 and is regulated by the International Financial Services Commission (IFSC / 60/354 / TS / 19). The platform has more than 1.5 million customers with merchants in 196 countries. XM’s ethos is about being great, fair and human. The company prides itself on things like excellent customer service and a personal approach to each client, regardless of their investment goals.

XM Trading Platform

XM offers 2 trading platforms that can be accessed from real and demo accounts. The award-winning MetaTrader 4 is mostly a forex trading platform that supports stop, limit, market and trailing orders. The MetaTrader 5 platform is a multi-asset trading platform that also offers access to stocks, stock indices and precious metals.

Both platforms are available on Apple and Android devices, which makes for a smooth and easy-to-use mobile trading experience. The trading area offers additional, optional tools, such as an economic calendar or trading volume statistics.

Assets / Markets

This broker has more than 1000 financial instruments that can be traded on the MT4 / MT5 platform and these include Forex Trading, Stock CFDs, Commodity CFDs, Equity Indices CFDs, Precious Metals CFDs and Energy CFDs. Forex trading is available on more than 55 pairs, including the major USD, GBP, EUR and JPY pairs. XM does not offer binary options or futures.

 

 

Spread & Commission

The spread varies depending on the type of account opened. It is possible to open Micro Accounts, Standard Accounts and XM Zero Accounts. The minimum spread across all accounts is 0.1 pips, and the average spread for major pairs like EUR/USD is 0.1 pips. XM operates a strict “hidden fees or commissions” policy. Therefore, commissions are only given for XM Zero accounts. XM covers all transfer fees and same-day withdrawals are guaranteed.

Leverage

Depending on the instrument, the leverage can range from 2:1 to 30:1. This is really flexible and XM offers its clients the opportunity to manage their own leverage risk. Margin requirements remain constant throughout the week and do not widen on weekends or at night. This leverage applies to customers registered under entities controlled by the EU group.

XM Mobile Apps

XM is available on several Android and Apple devices, including the Apple iPhone, Apple iPad and Android tablets and Android phones. Login is very easy and can be done via fingerprint. You can download their apps from the Apple App Store or the Google Play Store. They are both fully functional and allow continuous monitoring and trading. The desktop platform for PC and Mac supports one-click trading.

 

 

payment method

In line with conventional KYC rules, users need to provide a color copy of an official identification document such as a passport or driver’s license. They also need to provide a recent utility bill dated within the last three months as proof of address. Once registered, the minimum deposit amount is $5 for Micro and Standard accounts, while the Zero account requires a minimum deposit of $100.

Deposits can be made using most major credit cards, electronic payment methods, wire transfers, local bank transfers and more. Deposits can be made in any currency and they will be automatically converted to the currency you selected as your base currency when opening the account. All withdrawals are processed within 24 hours and there are no fees to withdraw your money from your eWallet.

 

 

Demo Account

XM excels in its demo account offering. Users can set up a demo account with just a few details and then trade with a virtual balance of $100,000USD. The XM demo account is unique in that it offers trading conditions similar to real conditions. There is no time limit to how long you can use your demo account.

Bonus Offers And Promotions

XM also offers a free VPS (virtual private server) service to help increase trading speed. This VPS can be accessed from anywhere and is available 24/7. They claim to eliminate downtime and are available worldwide. XM also offers commissions and free withdrawals and deposits. As a regulated EU brand, XM complies with ESMA’s ban on bonuses, and the $30 deposit bonus is no longer available to EU traders.

Regulation And Licensing

As mentioned above, XM Group has various brands that are protected by different regulators. XM Group (XM) is a group of regulated online brokers. The Financial Instruments Trading Point was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10). Trading Point Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670). XM Global was established in 2017 and is regulated by the International Financial Services Commission (IFSC / 60/354 / TS / 19).

Additional features

One of the biggest benefits found on the XM platform is the wealth of training and educational materials available. The platform hosts regular webinars aimed at newcomers and seasoned professionals. The platform is social, encouraging users to learn from their team of instructors. The company also publishes research and technical analysis.

 

 

XM Account Type

There are four trading account levels, Micro, Standard and Zero. All accounts allow up to 200 open / pending positions per customer.

      • Micro Accounts : Micro accounts can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as base currencies and can start with a minimum deposit of $5USD. 1 micro lot is 1,000 units of base currency.
      • Ultra Low Accounts : XM Ultra Low Accounts, can use EUR, USD, GBP, AUD, ZAR, SGD as the base currency and traders will need a minimum deposit of $50 USD. 1 Standard Ultra lot is 100,000 units of the chosen base currency, whereas 1 Micro Ultra lot is 1,000 units of the base currency. XM Ultra Low Accounts cannot be used for all group entities.
      • Standard : Standard accounts can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as base currencies and traders can start with just $5USD. 1 standard lot is 100,000 units of the selected base currency.
      • Zero Account : The zero account can use USD, JPY and EUR as the base currency and traders will need a minimum deposit of $10USD. As with the Standard account, 1 standard lot is 100,000 units of the selected base currency.

 

 

Benefits

XM offers a full-service educational package on forex, ideal for those making their first steps in trading. However, this does not come at the expense of more experienced professionals, who also have access to expert analysis and unmatched detection tools. As a company that prides itself on solid customer service, their users are well served with support available in many different languages.

Weakness

While support may be solid, some users don’t like that customer support is only available Monday through Friday. Another downside is the lack of variety between different account types makes it feel less personal. Other brokers offer more different offers in their accounts, but the Micro, Standard and Zero accounts are almost the same. And finally, PayPal deposits are not currently supported, which could be a problem for some. Traders from certain regions are also prohibited from opening accounts due to licensing laws, including Canada and the United States.

Trading Hours

In line with Forex market hours around the world, XM is available 24 hours a day. For phone trading, XM trading hours are Sunday 22:05 GMT to Friday 21:50 GMT.

Contact information / Customer Support

The easiest way to contact XM is through their live chat feature found on the contact page of their website. You can also send an email to: [email protected] or call +357 25029933.

Safety

There are no obvious security issues with the website. Users are required to verify their email address to open a demo account but signing up for email updates is not a requirement. To open a trading account, identification documents are required. According to the company’s privacy policy, XM has organizational procedures to ensure that personal data is stored securely.

Overall result

XM offers comprehensive brokerage services to traders at all levels. Whether you are just starting out and learning the ropes, or if you are an experienced trader looking for a reliable and efficient platform, XM is a solid choice. Despite the shortcomings with different account options, the platform is easy to use and easy to navigate.

Accepted Countries

XM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and many other countries. Traders cannot use XM from USA, Canada, Israel, Iran.