XM – Forex Broker Rating and Review 2021

XMXM.COM website
Status
Regulation ASIC, CySEC, IFSC
Trading software MetaTrader4/5, XM Webtrader
Headquartered 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus

XM Group (XM) is a group of regulated online brokers. Trading Point of Financial Instruments Ltd was established in 2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670) and XM Global Limited was established in 2017 and is regulated by the International Financial Services Commission (000261/106). Our clients benefit from direct access to the financial markets in over 300 financial instruments. This broker has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms and this includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs with transparent real-time pricing, lowest spreads, and flexible leverage.

We value business efficiency - this is why we regard speed and fairness as crucial.


Pros

  • up to 888:1 Leverage. *This leverage is not available to all the entities of XM Group. Leverage depends on the financial instrument traded.
  • 8 Platforms, including MetaTrader4/5 and webtrader
  • Deposit Bonus up to 5 000 USD. *Clients registered under the EU regulated entity of the Group are not eligible for the bonus
  • Webinars
  • Tutorials
  • Account Funding 100% automatic
  • IB partner program with tailor made solutions for every partner
  • Minimum deposit is only $5
  • Tight forex spreads
  • Currency converter available on official site
  • Comfortable and safe trading

Broker review


Strong selling points of XM focus on its NO Requotes, No Rejection Policy as well as its tight spreads which combined with its No Minimum Deposit Policy attract medium size traders which seek for an MT4/5 broker with clean trading conditions with NO high minimum deposit limitations.

Account Types

 

Micro

Standard

XM Zero

Base Currency Options

USD, EUR, GBP, JPY,CHF, AUD, HUF, PLN, RUB, SGD, ZAR

USD, EUR, GBP, JPY,CHF, AUD, HUF, PLN, RUB, SGD, ZAR

USD, EUR, GBP, JPY,CHF, AUD, HUF, PLN, RUB, SGD,ZAR

Contract size (lot)

1,000

100,000

100,000

Minimum Initial Deposit

USD 5

USD 5

USD 100

Maximum Initial deposit

USD 100,000

USD 100,000

USD 100,000

Leverage

Flexible

Flexible

Flexible

Spread on all majors

As low as 1 pip

As low as 1 pip

As low as 0 pip

Commission

No

No

Yes

Lots restriction per ticket

100 lots

50 lots

50 lots

Hedging allowed

Yes

Yes

Yes

Islamic Account

Optional

Optional

Optional

Figures should be considered as a guideline – Tailor made solutions can be arranged to accommodate for each client’s needs. If the deposit currency is not USD, the indicated amount should be converted to the deposit currency.

XM broker offers its customers fractional pip pricing. This means that instead of quoting prices with four(4) digits, XM allows you to benefit from the smallest price movements by adding a fifth digit (fraction). Fractional pip pricing allows for tighter spreads and the most accurate quoting possible. This pricing is the result of our efforts to get the best prices from our multiple liquidity providers.


Regulation of XM

  • Trading Point of Financial Instruments Pty Ltd is authorized and regulated by ASIC (AFSL no. 443760).
  • The full information can be found here: http://www.xm.com/regulation
  • Trading Point of Financial Instruments Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10)
  • Trading Point of Financial Instruments Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC 443670
  • XM Global Limited was established in 2017 and is regulated by the International Financial Services Commission (000261/106) 

Spreads


Though XM is not no spread forex broker, the spreads are tight and are in the fair range of the industry. From default spreads are set to variable with EUR/USD set to an average of 1.9 pips.

XM trading information

WWW https://www.xm.com/
Address 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus
Headquarters Limassol
Free phone +357 25029900
24 hour support
Partnership programs
Expert advisors
Free education
Bonuses, Promotions
Sponsorship contests, competitions
1st deposit bonus
Mobile trading
Automated trading
Demo account
Swaps
24 hour trading
Scalping
Hedging
Digits after the dot in quotes 5
Minimum position size 0.01
Pip spread on majors 1-1.9
Spread Type variable
Maximum Leverage 888
ECN, $
STP, $
Standard account, $ 5
Mini account, $ 5
Popular payment methods Multiple Local Payment Methods Available
Account currencies EUR, USD, GBP, JPY, CHF, HUF, PLN, RUB, SGD, ZAR
Available assets Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs
Languages support in 29 languages: Arabic, Chinese, English, French, German, Greek, Indonesian, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Turkish, Hungarian, Polish, Swedish, Malay, Thai, Vietnamese
Platforms Metatrader4/5, XM Webtrader
Broker type Broker
Regulation ASIC, CySEC, IFSC
Foundation 2009

They took money without my permission send via BTC to another account that is not belong to me. Choose very carefully your broker, I do not recommend to use XM.

Faruk   24 December, 2020  

I made a withdrawal over a week ago and i still haven't received my money in my bank account. but The deposit takes a mater of few seconds to happen. i'm very unhappy with that i can't get money back now. called the bank and they said no money has been sent to my account from XM. stay away from this broker. it will end in tears.

Thabanag   24 November, 2020  

I wish I came to this review site before I started trading with with those scammers. I was trying to withdraw R1800 today and was told i violated rules. They use people to trade for them and steal their money when we try to make withdrawals.I wanna sue them or something. Why aren't we doing anything about this we all have the same complaints.

Mo   8 January, 2021

XM for me is a genuine broker. First they offer 30$ bonus and trust me this is the best in the industry since they have a very few conditions to meet for profit withdrawls. second, They dont charge any % for all deposits and withdrawals and moreover the withdrawal are very fast as compared to other brokers. They have a very huge options for CFD tradings. Overall, I have used XM for 5 years now and I am a very happy client. I also use FxPro and HotForex sometimes, they are also better.

Sanjog   24 November, 2020  

They will offer you a free $30 no deposit bonus and the account become profitable you will received an email that you violated rules without an explanation. If you asked their chat agent you ended up talking to a robot.

Jess   23 November, 2020  

Please read the T&S properly,

Sanjog   24 November, 2020

I got the bonus traded and made $61 profits then the moment I withdrew it I got an email that said I have viloted section b of the terms and conditions of the broker.

philani   29 November, 2020

I opened a standard account with xm and the spreads for currency pairs are way too high. then I opened an ultra low account still all I see is fixed spreads but when you review their services they say they offer tight spreads.

Kevin Rakuba   12 November, 2020  

I haven't recieved my withdrawal, it's been a whole week (7 days) now. XM isn't a trustworthy broker for real. The transaction says "approved" but there is no action that has been made. they're 100% scammers.

Siphiwe   30 October, 2020  

Siphiwe, did you finally get your money? Your response is crucial because I want to fund.

Forex Gump   15 November, 2020

I withdrew my money and xm decided to terminate my account and took all the profits I made now I have nothing on my platform. Xm is a broker you no longer have to trust.

Sarah   29 October, 2020  

I withdrew 2 times, I did not receive my money even today.

sithembiso   23 October, 2020  

Try withdrawal using the "local bank transfer" option, it's works for SAn bank accounts, you won't regret it.

Pieceofmind   23 November, 2020

XM closes my trades while I'm still making profits.

Pablo   19 October, 2020  

I have deposited my money in xm. But in trading sl and tp don't work. They guide to use lots from 0.10 and above no low that. Bad broker ever.

Max   16 October, 2020  

All Reviews & Comments
XM Rating and Review

XM Rating

83 %   17 %


XM Reviews Rating

Reviews Rating XM - 5

Reviews & Comments

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