XM Review

XM is a popular forex broker founded in 2009. It has built a reputation for offering low-cost trading, and a huge number of trading instruments. XM has over 15 million clients in over 190 countries around the world. There are over 8,5 billion trades with zero requotes or rejections. 

XM has a rich list of all the awards they got during the years. There are over 30 awards, and counting. If you’re curious about XM and what they offer, keep reading. 

XM Pros and Cons

Is XM Secure?

XM is regulated by FSC, and CySEC. Besides this, XM exists for 15 years. So yes, it’s secure.

Markets and Products

XM offers many different trading instruments. Only some of them are listed in the tables below. The number of trading instruments goes way above 1000.

Forex

USDJPY	EURUSD	AUDUSD	GBPJPY
GBPUSD	EURJPY	EURGBP	USDCHF
NZDUSD	EURCHF

Commodities

WHEAT	COCOA	COTTO	HGCOP
COFFE	CORN	SUGAR	SBEAN

Cryptocurrencies

BTCUSD	ETHUSD	SOLUSD	XRPUSD
DOGEUSD	SHIBUSD	AVAXUSD	BCHUSD

Equity Indices

US100Cash	US30Cash	JP225Cash	GER40Cash
US500Cash	HK50Cash	China50Cash	UK100Cash

Precious Metals

GOLD

XAUEUR

SILVER

Energies

OILCash

BRENTCash

GASCash

Shares

Tesla_sh	Apple_sh	Nvidia_sh	Microsoft_sh
Amazon_sh	Google_sh	Alibaba_sh	Facebook_sh

Thematic Indices

Crypto_10	ChinaInternet	ElectricVehicles	FAANGs_10
AI_INDX	Blockchain&NFT

XM Fees and Charges

XM doesn’t charge any commission. The only thing you pay for is the spread. XM also doesn’t charge any fees on deposit or withdrawals. However, there’s an inactivity fee of $10 monthly, if your account is inactive for longer than 90 days.

XM Account Types & Account Opening

XM Offers three account types

• Standard account
• Ultra Low
• Shares Account

All of the offered accounts have a negative balance protection, hedging and Islamic option. There’s also a demo account. If you wish to register and open an account follow these steps:

• Click the “Get Started” button on the website
• Enter the country of residence, email and password
• Click the green “Register” button
• Go to the account types
• Choose the account you want

Account Type	Minimum Deposit	Maximum Leverage	Commission
StandardAccount	$5	1,000:1	No
Ultra LowAccount	$5	1,000:1	No
SharesAccount	$10,000	1:1	Yes

Trading Platforms

XM offers the good old MT4 and MT5 platforms to trade on. They’re one of the best multi-asset platforms in the industry. 

Mobile Trading Platform

XM has a mobile app for both Android and iOS devices. The app is designed to provide you full functionality while trading on the go.

Web Trading Platform

Regarding the WebTrader platform. The MT5 platform comes with 13 different servers. The MT4 platform comes with one.

Desktop Trading Platform

If you wish, you can also download the Desktop trading platform, which is available with both MT4 and MT4. Simply download and install it, and you can trade from your Desktop whenever you like as long as you have a stable internet connection.

XM Research Tools

When it comes to research tools, there are several that XM offers:

• Forex Calculator
• Economic Calendar
• Anaytical Tools
• News an Analysis

XM Educational Content

XM really makes sure their Learning Center is full of useful information, advice, and guides. There are Live educations every weekday at 08:00. You need to have an account to access these.

But if you prefer to read, you’re covered. Besides the Learning center on the website, their social media accounts are also full of trading tips and tricks, as well as news.

Customer Service Overview

It’s needless to say that the XM customer service is one of the best. They got over 10 awards for the best customer support. Their customer support is available in 30 different languages.

If you want to contact XM customer support you can do it by:

• Starting a live chat
• Phone call: +501 2236696, +501 2279421
• By sending an email from the site
• Social media channels
• Or visit the Help Centre and see if the answer to your question is there

XM Deposit and Withdrawals

If you want to see the full list of payment methods available at XM, open an account and visit the “Funding” section in the Members area. Some of the popular methods are:

• Credit/Debit cards
• Bank Transfers
• E-Wallets

Withdrawal Methods and Payout Times

The withdrawal options are pretty much the same as deposit options. The withdrawals are processed instantly. If you’re withdrawing funds via Bank wire, credit or debit cards, it’ll take about 5 business days.

XM Online User Reviews and Ratings

There are over 1000 reviews on Trustpilot on XM. As expected. But what’s not expected is the 51% of 1-star reviews. Most of the reviews claim the withdrawals take too long, and rejected withdrawals.

The 36% of 5-star reviews claim there is nothing wrong with the broker. That they’re true to the services they offer, and that the customer service is good.  XM replied to almost all both positive and negative reviews, trying to help them with the issues they had, or simply to say thank you.

Author Opinion on XM

XM seems like a great well-established broker that is worth trying. The $5 minimum deposit is quite affordable. It’s for traders seeking competitive spreads and a strong educational focus. Like any other, XM has downsides like inactivity fees. The amount of negative reviews can also be counted as a downside. It really mixes the feelings whether this broker is good enough and secure as it should be. At the same time, we can’t rely on them fully. 

The best thing you can do is research. There’s no guarantee that a broker will fit your needs even if it is secure and has 100% positive reviews. Check the features the broker offers, and see if that’s what you’re searching for. 

FAQ