XM Review – 2021’s Best Forex Trading Platforms



XM was created in 2009 and is supervised by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC). It separates customer assets from its own, which would then be kept with tier-one banks. On the globally-recognized trading sites Meta Trader 4 and Meta Trader 5 for PC, Mac, Web, iOS, and Android systems, the broker provides over 1,000+ financial CFD products spanning Forex, Stocks, Currencies, Indices, Metals, and Energies.

Micro, Standard, and XM Zero are the three main categories of trading accounts offered by XM, with the first two providing commission-free trading and spreads as low as 1 pip. Required deposits are just $5, and the broker also provides Islamic swap-free portfolios. Customer service is available via web discussion, email, and mobile from 5 am to 7 pm GMT. The impressive analysis and education segment, which is feature-rich and up – to – date, would appeal to both novice and experienced traders. The broker’s XM research section includes Stocks Overview, XM Research, Trade Ideas, XM TV, Podcasts, and Technical Summaries. XM Online, Forex Webcasts, Seminars, Platform Guides, and Educational Vines are all used to provide training.


The XM Group (XM) is a controlled online broker company. Trading Point of Financial Instruments Ltd was founded in 2009 and is controlled by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was founded in 2015 and is controlled by the Australian Securities and Investments Commission (ASIC 443670), and XM Global Limited was founded in 2017 with its head office in Belize and is controlled by the Cyprus Securities and Exchange Commission (CySEC 120/10).

XM’s Cyprus law offers some investor security, as CySEC retains an Investor Compensation Fund with the authority to compensate depositors who withdraw their accounts due to a controlled firm’s failure a sum up to €20,000. XM has been in business as a broker since 2009, so it has a pretty good track record. Generally speaking, the longest a broker has been in service, the more trustworthy the broker can be considered. As a result, XM can be seen to have a long track record and a well-established safety image as a company that it would like to defend.

All clients of XM, like all Forex / CFD brokerages controlled in European Union member states like Cyprus, benefit from negative balance security. This ensures that no customer will risk more money than they have invested with XM. Under such a European Union law, XM is entirely responsible for the “head chance” of a very big and rapid price movement, compounded by any leverage utilized.


All of XM’s trader customers have the choice of using one of the two most common retail Forex / CFD trading sites in the world. Meta Trader 4 or Meta Trader 5 are accessible to consumers of any account form. Both systems are well-known, functional, and simple to use, and they have been here for a long time. Both sites are also extremely common with retail traders. Few traders will desire a wider platform selection than what is available here, but the vast majority of traders contemplating being XM customers would find the options available satisfactory.

XM provides traders with free access to both MT4 and MT5 applications, which are available on both Windows and Mac operating platforms. Furthermore, a variety of MT4 and MT5 Mobile apps for both Apple and Android Operating Systems provide streamlined account connectivity and full account capabilities from a smartphone or tablet.


XM was the first to deliver an MT4 platform with a focus on trading implementation accuracy. It has the following advantages: 

Over 100 instruments, including Forex, CFDs, and Futures, a single login to eight exchanges, spreads as low as one pip, complete EA (Expert Advisor) features, one-click trading, technical analysis software with 50 indicators and monitoring tools, and three different chart styles are all available. The MT4 platform can be used to exchange on a Mac as well as on handheld devices such as Android and iPhones, iPads, and laptops.


XM Web Trader 4 is available for PCs and Macs without the need to update anything. Investors can select from over 100 products, including forex, CFDs, and futures, and have access to eight platforms via a single access point, with spreads as low as one pip, one-click trading, and constructed news features.


The XM MT4 Multiterminal platform is suitable for traders who want to manage several MT4 accounts with convenience from a single terminal using a single Master Username and Password. It can handle up to 128 trading accounts, has a variety of order formats, three allocation processes, and offers real-time control and execution.


Meta Trader 5 has several additional features that evaluate the demand and assist traders in trading in their preferred format. With all of the functionality of the MT4 framework, the MT5 framework now includes order forms like ‘Fill or Kill’ and ‘Immediate or Terminate,’ as well as technical and fundamental analysis with over 79 analytical instruments.


XM Group provides four categories of accounts with low spreads: MICRO, STANDARD, ZERO, and ULTRA LOW. The MICRO account helps you to trade micro quantities with a reduced risk ratio and a $5 fixed amount to deposit. The STANDARD plan has a $5 required initial deposit that requires you to deal with standard quantities. The XM ZERO* account helps you to trade regular lots with smaller spreads beginning at 0 pips and a $100 required deposit. The XM ZERO account charges $3.5 per $100,000 dealt. At last, the XM ULTRA LOW* account lets you exchange micro or regular lots, with smaller spreads beginning at 0.6 pips and a $50 required deposit.

Hedging, scalping, and electronic trading are all possible with Expert Advisers on all account forms. We believe the variety of account forms available is practical, simple to use and grasp, and offers good value. Account category designations in the retail Forex / CFD industry are frequently made overly confusing for commercial reasons. It’s commendable that XM seems to have avoided this and is now focusing on providing their customers with what they need and want.


The method of setting up an account with XM is relatively simple and straightforward. On the same day, as you start the registration process, you can anticipate having your page open and accessible. Clients just have to go through a series of online screens and fill out a few forms to choose the kind of profile they want to open. Citizens of the United States of America and a few other highly regulated territories are not recognised as new customers by XM.

In addition to supplying personal and account information, new customers must have evidence of identification and residence in the form of utility bills or bank statements. An official national identification card, visa, or driver’s licence should be used to verify identification. For authentication, images may be submitted, and response times are extremely fast.


There is no requirement for a minimum deposit at XM. That being said, for electronic financings such as Moneybookers, Skrill, and NE teller, as well as bank cards and bank wire transfers, device limitations restrict the minimum deposit balance to $5. Transactions via Money Gram and Western Union are also approved. Withdrawals can also be rendered in the same way. The deposit and withdrawal choices are listed side by side on the platform, and all a trader has to do to complete a transaction is press on “make a deposit” or “demand a withdrawal.”

A $15 administration fee applies on bank-wire withdrawals of less than $200. Although this is not unheard of, it is rare, and small depositors should decide whether they can afford to wait and expect that their portfolio will rise to the point that this charge will not extend to any likely sum the customer wishes to withdraw.


Except for the odd query about the trading conditions available, most traders would never contact their broker’s customer service department. Even so, it’s nice to know that if you do need assistance, you’ll get it quickly and efficiently. Customer service at XM is well-regarded, in particular, because it is available in a wide range of languages, with devoted native speakers assisting clients in their native tongue.

The XM customer service department is available 24 hours a day, Monday through Friday, during the same time as the markets are open. English, Greek, Japanese, Chinese, Bahasa Malay, Bahasa Indonesia, Hungarian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Korean, Portuguese, Czech, Slovakian, Bulgarian, Romanian, and Dutch are among the languages spoken by representatives. Traders may reach out to representatives in various departments around the globe via email or phone. There is also a webchat option available.


XM is deserving of mostly positive feedback. Fees are reasonable for depositors of a few hundred dollars, and the XM Zero account alternative appears to be reasonable for Financial professionals with deposits as low as $5! Trading is available on a wide variety of securities, including over 1,200 individual stocks and bonds. With a proven track record and solid regulatory status in Australia, Belize, and Cyprus, XM has a reputation that is at the top of its game.



It is located in Cyprus, Belize and Australia


Spreads and commissions charged on exchanges, an overnight investment mark-up, and exchange damages on market-maker chequing accounts are how XM earns a profit.


The peak leverage available is 888 to 1, but if EU regulations apply, this is reduced to the permitted maximum of 30 to 1.

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