XM Review
Founded in 2009, XM has grown to become one of the leading online Forex brokers in the world. With over 5 million clients from as many as 190 countries, XM Is one of the most established brokers currently online.
XM offers traders a wide range of trading assets from Forex to CFDs on stocks, indices, commodities, and the like. Over the past decade, this broker has gotten licenses from leading regulatory agencies worldwide, including the FCA of the UK, CySEC of Cyprus, ASIC of Australia, and so on.
XM is known for charging very low fees and the spreads on major pairs start from as low as 0.6 pips. In today’s XM review, we are going to discuss all the important aspects that make this broker one of the leading companies in the Forex industry. So without further ado, let’s see what XM really has to offer.
| Main features | |
| Regulations | Cyprus, Australia, UAE, UK, Belize |
| Fees on deposits | $0 |
| Fees on withdrawal | $0 |
| Inactivity fees | $15. $5 per month after 90 days of inactivity |
| Minimum deposit | $5. Minimum initial deposit for Shares Account is 10,000 USD |
| Minimum account activation | $5. Once an account is archived, it cannot be reactivated |
| Number of available assets | 1200+ |
| Leverage up to | 1:1000. There’s no leverage available for Shares account |
| Available trading markets | CFDs on Stocks, Commodities, Cryptocurrencies, Forex, Indices, Stocks |
| Account currencies | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
| Demo account | Yes |
| Live account types | Micro, Standard, XM Ultra Low, Shares Account |
| Islamic account | Yes |
| Security | |
| Negative balance protection | Yes |
| Part of compensation fund | Yes |
| Keeps funds on segregated bank account | Yes |
| Assets | |
| Forex | 57 |
| Shares | 100 |
| Cryptocurrencies | 31 |
| Indices | 14 |
| Commodities | 8 |
| Total | 1200+ |
| Fees & spread | |
| Forex | From 0.6. For Micro and Standard accounts, spreads start from 1 pip |
| Shares | From 0. As per the underlying exchange |
| Cryptocurrencies | From 0.0017. Spreads on BTC/USD start from 39 |
| Indices | From 0.00010 |
| Commodities | From 0.3 |
| Software | |
| Platforms | MetaTrader 4, MetaTrader 5 |
| Mobile trading support | Yes |
| Mac device support | Yes |
| Commodities | Yes |
| Payment systems | |
| Payment methods | Bank Transfer, Credit/Debit Card, Neteller, Skrill, UnionPay, WebMoney, XM Card, M-Pesa |
| Minimum deposit | Bank Transfer, Credit/Debit Card, Neteller, Skrill, UnionPay, WebMoney, XM Card, M-Pesa |
| Minimum withdrawal | Bank Transfer, Credit/Debit Card, Neteller, Skrill, UnionPay, WebMoney, XM Card, M-Pesa |
| Withdrawal processing time | Instant |
| Time to open an account | – |
The Safety & Security
When choosing a broker to trade with, one of the important factors to keep in mind is the safety and security of the broker. There are several things that can define the safety and security of the broker you choose to use. One of the main things to focus on is the regulatory guidelines that a certain broker follows. While working on the XM broker review, we found that they are regulated in five different jurisdictions. Here is the list of licenses held by XM:
- Cyprus Securities and Exchange Commission;
- Australian Securities & Investments Commission;
- Dubai Financial Services Authority;
- Financial Conduct Authority, UK;
- International Financial Services Commission, Belize.
These licenses allow XM to offer services to traders in different parts of the world. Thanks to the CySEC license, this broker has access to the whole European market, while the license from Belize allows it to offer services to numerous jurisdictions around the world.
Available Assets on XM
XM offers traders access to a wide range of financial instruments, allowing them to diversify their portfolios and trade multiple markets from a single account. The broker provides access to over 1,400 tradable assets, including forex and CFDs on several global markets.
Below are the main asset classes available for trading on XM:
Forex (Currency Pairs)
Forex trading is the core offering at XM. Traders can access more than 55 currency pairs, including major, minor, and exotic pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD. These pairs can be traded 24 hours a day during weekdays on XM trading platforms.
Precious Metals
XM allows traders to trade popular precious metals such as Gold, Silver, Platinum, and Palladium. These assets are widely used by traders as a hedge against inflation and market volatility.
Equity Indices
Traders can speculate on the performance of major stock markets through global equity indices. Examples include S&P 500, NASDAQ, Dow Jones, FTSE 100, and DAX. Index trading allows exposure to entire economies rather than individual stocks.
Commodities
XM also offers commodity trading, including both energy and agricultural products. Traders can trade instruments such as coffee, sugar, cotton, wheat, and corn through CFD contracts.
Energies
Energy products like crude oil (WTI and Brent) and natural gas are available for trading on XM. These markets are popular due to their strong volatility and liquidity.
Stocks (Share CFDs)
XM provides access to hundreds of global company stocks through CFDs, including major companies such as Apple, Amazon, and Tesla. Traders can speculate on stock price movements without owning the underlying shares.
Account Types
XM offers several trading account types designed to meet the needs of different traders, from beginners starting with small investments to professional traders looking for advanced trading conditions. Each account type provides access to the same trading platforms and markets, but they differ in spreads, lot sizes, and trading costs.
Micro Account
The XM Micro Account is ideal for beginners who want to start trading with small position sizes and limited capital. It allows traders to open positions with micro lots, helping them manage risk while gaining real market experience. The minimum deposit usually starts from around $5, making it accessible for new traders.
Standard Account
The XM Standard Account is the most commonly used account type and is suitable for both beginners and experienced traders. It allows trading with standard lot sizes and provides flexible trading conditions with competitive spreads and no commission on most trades.
Ultra Low Account
The XM Ultra Low Account is designed for traders who want tighter spreads and lower trading costs. Spreads can start from around 0.6 pips, making this account suitable for strategies such as scalping and day trading.
Shares Account
The XM Shares Account is intended for traders who want to invest in individual company stocks rather than forex or CFDs. This account typically requires a higher minimum deposit and is designed for traders interested in direct stock trading and long-term investments.
Additional Account Options
XM also offers additional account options such as:
Demo Account – Practice trading with virtual funds before trading with real money.
Islamic (Swap-Free) Account – Designed for traders who require trading conditions compliant with Islamic finance principles
Fees & Commissions
XM offers several trading account types designed to meet the needs of different traders, from beginners starting with small investments to professional traders looking for advanced trading conditions. Each account type provides access to the same trading platforms and markets, but they differ in spreads, lot sizes, and trading costs.
Micro Account
The XM Micro Account is ideal for beginners who want to start trading with small position sizes and limited capital. It allows traders to open positions with micro lots, helping them manage risk while gaining real market experience. The minimum deposit usually starts from around $5, making it accessible for new traders.
Standard Account
The XM Standard Account is the most commonly used account type and is suitable for both beginners and experienced traders. It allows trading with standard lot sizes and provides flexible trading conditions with competitive spreads and no commission on most trades.
Ultra Low Account
The XM Ultra Low Account is designed for traders who want tighter spreads and lower trading costs. Spreads can start from around 0.6 pips, making this account suitable for strategies such as scalping and day trading.
Shares Account
The XM Shares Account is intended for traders who want to invest in individual company stocks rather than forex or CFDs. This account typically requires a higher minimum deposit and is designed for traders interested in direct stock trading and long-term investments.
Additional Account Options
XM also offers additional account options such as:
Demo Account – Practice trading with virtual funds before trading with real money.
Islamic (Swap-Free) Account – Designed for traders who require trading conditions compliant with Islamic finance principles.
Trading Platforms
XM provides traders with powerful and flexible trading platforms designed to deliver a smooth trading experience across desktop, web, and mobile devices. The broker mainly supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader, allowing traders to access global markets with advanced tools and fast execution.
MetaTrader 4 (MT4)
MetaTrader 4 is one of the most popular trading platforms in the forex industry. It is widely used by traders due to its reliability, simple interface, and powerful technical analysis tools.
Key features include:
Over 50 built-in indicators and charting tools
Automated trading through Expert Advisors (EAs)
Multiple order types and one-click trading
Advanced charting and market analysis tools
MT4 is especially suitable for forex traders and beginners who want a stable and user-friendly trading platform.
MetaTrader 5 (MT5)
MetaTrader 5 is the upgraded version of MT4 and offers additional tools and improved performance. It supports more asset classes and enhanced analytical features.
Key features include:
58+ technical indicators and 44 analytical objects
Faster order execution and improved performance
Support for algorithmic trading and trading robots
More advanced charting and market depth features
MT5 is ideal for traders who want advanced trading tools and multi-asset trading capabilities.
XM WebTrader
XM WebTrader allows traders to access their accounts directly through a web browser without downloading any software. This platform is convenient for traders who want quick access from different devices.
Benefits include:
No installation required
Compatible with Windows, Mac, and browsers
Instant access to trading accounts
Real-time charts and trading tools
Mobile Trading
XM also provides mobile trading apps for Android and iOS, allowing traders to manage their accounts and trade on the go. The mobile platforms include full charting features, price alerts, market news, and account management tools.
Copy Trading
XM Copy Trading allows traders to automatically replicate the trades of experienced traders directly in their own trading accounts. This feature is designed to simplify trading for beginners while also providing experienced investors with an additional strategy to diversify their portfolios.
With copy trading, users can select a Strategy Provider (an experienced trader) based on performance statistics such as profit history, drawdown, and trading style. Once a trader is selected, all of their trades are automatically copied into the follower’s account in real time, proportional to the amount invested.
How XM Copy Trading Works
Choose a Strategy Provider – Browse and evaluate professional traders based on performance and risk level.
Allocate Funds – Decide how much capital you want to invest in copying the trader.
Automatic Trade Replication – When the strategy provider opens or closes a trade, the same action is executed in your account automatically.
Monitor Performance – You can track results, adjust allocations, or stop copying at any time.
Benefits of XM Copy Trading
Beginner-friendly trading approach with automated strategies
Access to experienced traders’ strategies
Time-saving since you don’t need to analyze markets manually
Flexible investment allocation and full control over copied trades
Opportunity for strategy providers to earn up to 50% profit share when others copy their strategies
Who Can Use Copy Trading?
XM Copy Trading is suitable for:
Beginner traders who want to learn from experienced traders
Busy investors who do not have time to trade actively
Professional traders who want to share strategies and earn additional income from followers.
Become a Partner
The XM Partner Program is designed for individuals, marketers, and businesses who want to earn commissions by introducing new traders to the XM trading platform. By becoming a partner, you can promote XM’s services and receive rewards based on the trading activity of the clients you refer.
XM’s affiliate system is widely used by content creators, trading educators, influencers, and financial websites that want to generate additional income through referrals. The program provides partners with tracking tools, marketing materials, and detailed performance reports to help them grow their network effectively.
Benefits of the XM Partner Program
Unlimited Commission Potential based on referred client trading activity
Multiple payment models, including CPA, revenue share, and lot-based rebates
Sub-affiliate commissions with up to 10% additional earnings
Fast and flexible payments through various withdrawal methods
Access to marketing materials, banners, and tracking tools to promote the broker effectively
How to Become an XM Partner
Visit the official XM Partners website and click on Become a Partner.
Complete the online registration form with your personal or business details.
Verify your email and submit the required identity documents.
Once approved, receive your unique affiliate link and start promoting XM.
Earn commissions whenever your referred clients trade on the platform.
Who Can Join the Program
The XM partner program is suitable for:
Website owners and bloggers in the finance or trading niche
YouTubers and influencers with trading audiences
Trading educators and academies
Introducing brokers (IBs) and financial marketers
Education & Research Tools
There is a wide array of educational material available on XM. The broker offers everything from simple Forex guides to different types of educational courses and videos that provide beginners with very detailed information about the market. There are numerous research tools available for traders, to ensure that they are able to understand price movements in greater detail. The broker also offers daily analysis and news articles, to keep you in touch with the most important events happening in the market.
Customer Support
XM provides comprehensive customer support services to assist traders with account issues, platform guidance, deposits, withdrawals, and general trading inquiries. The broker aims to deliver fast and reliable assistance through multiple communication channels so traders can get help whenever they need it.
Support Availability
XM offers 24/5 customer support, which means traders can contact the support team at any time during the trading week. Assistance is available in more than 30 languages, allowing traders from different regions to receive help in their preferred language.
Contact Methods
Traders can reach XM’s customer support team through several communication options:
Live Chat: Instant assistance directly from the website or client portal
Email Support: Traders can send inquiries to [email protected]
Phone Support: Available through international contact numbers
Help Center: A knowledge base with FAQs, guides, and troubleshooting resources
These channels help traders quickly resolve issues related to trading platforms, account verification, or transaction processes.
Pros and Cons
When reviewing XM, it is important to consider both the advantages and limitations of the broker. XM offers competitive trading conditions and strong global recognition, but like any broker, it also has a few drawbacks that traders should evaluate before opening an account.
Pros
Low Minimum Deposit – Traders can start with as little as $5, making XM accessible for beginners and small investors.
Wide Range of Instruments – XM provides access to 1,000+ trading instruments, including forex, commodities, indices, and stocks.
Multiple Account Types – Different accounts are available to suit beginners, intermediate traders, and professionals.
MT4 and MT5 Trading Platforms – The broker supports the widely used MetaTrader 4 and MetaTrader 5 platforms, which include advanced charting tools and automated trading features.
Free Deposits and Withdrawals – XM generally does not charge internal fees for funding or withdrawing from trading accounts.
Educational Resources – Traders can access webinars, tutorials, market analysis, and other educational materials to improve their trading skills.
Regulated Broker – XM operates under several international regulatory authorities and implements client fund protection measures such as segregated accounts.
Cons
Inactivity Fees – Accounts that remain inactive for more than 90 days may be charged a monthly inactivity fee.
Variable Spreads – XM offers variable spreads, which may widen during high market volatility.
Limited Availability of Some Features – Certain account types or trading conditions may not be available in all regions due to regulatory restrictions.
Limited Cryptocurrency Offering – Some reviews note that XM offers fewer crypto trading options compared to some competitors.
Occasional Withdrawal Delays – While many users report smooth withdrawals, some traders have mentioned delays depending on payment method or verification processes.
Conclusion
Overall, XM is considered a well-known global forex and CFD broker that offers a wide range of trading services suitable for both beginner and experienced traders. The broker provides access to multiple financial markets, including forex, commodities, indices, and stock CFDs, through widely used trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
One of XM’s key strengths is its global presence and regulatory framework, serving millions of traders across more than 190 countries. The broker is regulated by several financial authorities and maintains security measures such as segregated client funds and transparent trading policies, which help build trust among traders.
XM also stands out for its low minimum deposit, multiple account types, educational resources, and user-friendly platforms, making it accessible for traders who are just starting their trading journey. At the same time, the broker provides advanced trading tools and features that can appeal to more experienced market participants.
In conclusion, XM can be a strong option for traders looking for a reliable broker with flexible trading conditions and a wide selection of instruments. However, as with any online trading platform, traders should carefully evaluate their financial goals, understand the risks associated with leveraged trading, and conduct their own research before investing.
