FX Trading Master

United States
Generic selectors
Exact matches only
Search in title
Search in content

XM Review and Tutorial 2021

» Visit

Stop United States not accepted.

Go to the Brokers List for alternatives

Facts & Figures

XM.com Offer a range of Account types and a low minimum deposit to appeal to all levels of trader. With 1000+ markets and low spreads they offer a great service.

Awards

• Best MT4/MT5 Broker 2021 – DayTrading.com
• Global Forex Broker of the Year 2020 – Global Forex Awards
• Best FX Broke Europe 2018 – World Finance
• Best Forex Execution Broker 2017 – Share

Bonus Free VPN Services
Instruments Forex CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs
Demo Account Yes
Min. Deposit 5 $/€/£
Pay Methods Cashu, Credit Card, Diners Club, Perfect Money, QIWI, Sofort, Sticpay, UnionPay, WorldPay, Yandex Money
Min. Trade 0.01 Micro lots
Regulated By FCA, IFSC, CySec, ASIC
MetaTrader 4 Yes
MetaTrader 5 Yes
cTrader No
ECN Account No
DMA Account No
Mobile Apps iOS, Android and Windows
Auto Trading Yes
Social Trading No
Copy Trading Yes
Trade Signals Yes
Islamic Account Yes
CFD
FTSE Spread 1.5 pts (var)
GBPUSD Spread 2.1 (var)
Oil Spread 0.05 (var)
Stocks Spread 0.1% Var
Leverage 1:500
Forex

XM.com deliver ultra low spreads across a huge range of Forex markets. Flexible lot sizes, and Micro and XM Zero accounts accommodate every level of trader.

GBPUSD Spread 2.1 pips (var)
EURUSD Spread 1.6 pips (var)
EURGBP Spread 2 pips (var)
Assets 55+
Risk Warning – Your capital is at risk

XM Review; Touted as the cutting edge broker for online forex and product trading, XM Global Webtrade is reasonable for novice and prepared traders. Traders can begin with the trading programming genuine record or try things out with a demo account platform with 100,000 USD of virtual cash. 

Features of this specific broker help incorporate auto trading, no hidden charges or commissions and quick request executions, with 99.35% occurring in less than 1 second.

Company Details

XM Group (XM) is a gathering of directed online brokers. Trading Point of Financial Instruments was set up in 2009 and is controlled by the Cyprus Securities and Exchange Commission (CySec 120/10). 

Trading Point of Financial Instruments Pty Ltd was set up in 2015 and is directed by the Australian Securities and Investments Commission (ASIC 443670). 

XM Global was set up in 2017 and is controlled by the International Financial Services Commission (000261/106). 

The platform brags over 1.5 million customers with traders in 196 nations. The XM ethos is tied in with being large, reasonable and human. The organization values excellent client care and a customized approach for each customer, regardless of their speculation objectives.

XM Trading Platform

XM offers two trading platforms that are open from both natural and demo accounts. The multi-grant winning MetaTrader 4 is transcendently a forex trading platform that supports stop, breaking point, market and following requests. 

The MetaTrader 5 platform is a multi-resource trading platform that offers admittance to stocks, stock files and valuable metals. The two platforms are accessible on Apple and Android gadgets, making for a smooth and straightforward to utilize mobile trading experience. 

The trading region offers extra, discretionary instruments, for example, monetary schedule or exchange volume details.

Assets / Markets

This broker has over 1000 monetary instruments that can be exchanged on the MT4/MT5 platforms. This incorporates Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, and Energies CFDs.

Forex trading is accessible on more than 55 sets, including the major USD, GBP, EUR and JPY sets. 

XM doesn’t offer paired options or prospects.

Spreads & Commission

Spreads fluctuate contingent upon the sort of record opened. It’s feasible to open a Micro Account, Standard Account and XM Zero Account. The minimum spread across all records is 0.1 pips, and the standard spread for a significant pair, for example, EUR/USD, is 0.1 pips. 

XM works an exacting “no secret expenses or commission” strategy. In that capacity, the commission is just given for XM Zero records. XM covers all exchange charges, and same-day withdrawals are ensured.

Leverage

Contingent upon the instrument, the leverage can go from 2:1 to 30:1. This is adaptable, and XM offers its customers the opportunity to deal with their leverage hazard. Edge necessities stay consistent consistently and never extend at the ends of the week or around evening time. 

This leverage applies to customers enlisted under the EU-managed element of the gathering.

XM Mobile Apps

XM is accessible on various Android and Apple gadgets, including Apple iPhone, Apple iPad, Android tablets, and Android telephones. Login is super-simple and should be possible through finger impression. You can download their applications from the Apple App Store or the Google Play Store.

They are both convenient and take into account observing and trading in a hurry. The work area platforms for PC and Mac both help a single tick trading.

Payment Methods

Following standard KYC guidelines, clients must give a shading duplicate of an authority recognizable proof report like a visa or a driver’s permit. They likewise need to provide a new service bill dated inside the most recent three months to verify the address. 

When enlisted, the minimum deposit sum is $5 for Micro and Standard records, while Zero records require a minimum deposit of $100. 

Deposits can be made utilizing the most significant Visas, electronic installment techniques, wire move, local bank transfer, and the sky is the limit from there. 

Deposits can be made in any money, and it will be naturally changed over into the cash you select as your base money when opening the record. 

All withdrawals are prepared in 24 hours, and there are no charges to remove your cash from your eWallet.

Demo Account

XM dominates in its demo account offering. Clients can set up a demo account with only a couple of subtleties and afterward get trading with a virtual surplus of $100,000USD. The XM demo account is remarkable in that it offers the same trading conditions as the genuine article. 

There are no time limits on how long you can utilize your demo account.

Bonus Deals and Promotions

XM additionally offers a free VPS (virtual private worker) administration to assist with speeding up exchanges. This VPS is open from any place and accessible every minute of every day. They guarantee to dispose of vacation and are accessible across the globe. 

XM is likewise offering commission and charge-free withdrawals and deposits. 

As an EU-directed brand, XM agrees with the ESMA prohibition on rewards, and the $30 deposit reward is not accessible to EU traders.

Regulation and Licensing

As indicated above, XM Group has a scope of brands covered by various controllers. 

XM Group (XM) is a gathering of directed online brokers. Trading Point of Financial Instruments was set up in 2009 and is controlled by the Cyprus Securities and Exchange Commission (CySec 120/10). 

Trading Point of Financial Instruments Pty Ltd was set up in 2015 and is managed by the Australian Securities and Investments Commission (ASIC 443670). 

XM Global was set up in 2017 and is directed by the International Financial Services Commission (000261/106).

Additional Features

The most significant advantage accessible on the XM platform is the abundance of preparing and informational materials accessible. The platform has standard online classes focused on newbies and qualified experts the same. 

The platform is intrinsically friendly, promising clients to gain from their group of educators. The organization likewise distributed exploration and specialized investigation.

XM Account Types

There are four degrees of trading account, Micro, Standard and Zero. All records permit up to 200 open/forthcoming positions per customer.

  • Micro Accounts: Micro accounts can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as the base currency and can get started with a minimum deposit of $5USD. One micro-lot is 1,000 units of the base currency.
  • Ultra-Low Accounts: XM Ultra-Low Accounts can use EUR, USD, GBP, AUD, ZAR, SGD as the base currency, and traders will require 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 do not apply to all entities of the group.
  • Standard: Standard accounts can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as the base currency, and traders can get started with just $5USD. One standard lot is 100,000 units of the chosen base currency.
  • Zero Accounts: Zero accounts can use USD, JPY and EUR as the base currency, and traders will require a minimum deposit of $10USD. Like the Standard account, one standard lot is 100,000 units of the chosen base currency.

Benefits

XM offers a full-administration instruction bundle on forex, ideal for those making their initial steps into trading. 

Be that as it may, this isn’t to the detriment of the more prepared proficient, who additionally approach master investigation and following unrivaled instruments. As an organization that highly esteems strong client assistance, their clients are presented with help accessible in a wide range of dialects.

Drawbacks

While the help might be solid, a few clients despise that client assistance is just accessible Monday to Friday. Another disservice is the absence of variety between the distinctive record types causes a less customized feel. 

Different brokers offer more of a particular contribution in their records. However, the Micro, Standard and Zero records are practically indistinguishable. Lastly, PayPal deposits are not right now upheld, which can be hazardous for a few. 

Traders from specific districts are likewise illegal to open a record due to permitting laws. These incorporate Canada and the United States.

Trading Hours

Following overall Forex market hours, XM is accessible 24 hours every day. For telephone trading, the XM trading hours are Sunday 22:05 GMT through to Friday at 21:50 GMT.

Contact Details / Customer Support

The simplest method to contact XM is through their live talk highlight found on their contact page. 

You can likewise email support at: support@xm.com 

or then again approach ‎+357 25029933.

Safety and Security

There are no conspicuous security worries with the site. Clients must affirm their email address to open a demo account; however, pursuing email refreshes isn’t a prerequisite. To open a trading account, recognizable proof records are required. 

As indicated by the organization protection strategy, XM has traditional methods to guarantee that individual information is kept secure.

Overall Verdict

XM offers exhaustive broker assistance to traders. Regardless of whether you are simply beginning and getting acquainted with everything, or on the other hand, if you’re a prepared merchant searching for a dependable and effective platform, XM is a strong choice. 

Regardless of the deficiencies with the distinctive record options, the platform is not difficult to utilize and easy to explore.

Accepted Countries

XM acknowledges 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 most different nations. 

Traders can not utilize XM from United States, Canada, Israel, Iran, Portugal, Spain.

Alternatives to XM

If you are searching for options in contrast to XM, we have gathered a rundown of the best five brokers that are like XM underneath. This rundown of brokers like XM is arranged by likeness and incorporates organizations acknowledging traders from your area.

  1. FXTM – FXTM is a leading forex and CFD broker. Offering a huge range of markets and six account types, they cater to all levels of trader.
  2. Pepperstone – Pepperstone offers CFD trading to both retail and professional traders. Clients can trade FX, indices, commodities and shares on MT4, MT5 and cTrader platforms.
  3. IC Markets – Trade Forex on 0.0 pip spreads with the world’s leading True ECN forex broker – IC Markets.
  4. OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.

Avatrade – Leading forex and CFD broker regulated in Ireland, Australia, Canada and South Africa. Avatrade is particularly strong in integration, including MT4.

en_USEnglish