XM Review

XM review summary

XM is a globally recognized forex and CFD broker that was founded in 2009 and is headquartered in Cyprus. The broker has a strong reputation in the industry and is regulated by the Cyprus Securities and Exchange Commission (CySEC). 

XM has a range of account types available to suit the needs of traders of all levels. The Micro account is a good choice for beginners as it has a low minimum deposit requirement of just $5, while the Standard account is designed for more experienced traders and has a minimum deposit of $100. The XM Zero account is the most advanced account type and is suitable for high-volume traders. It has ultra-low spreads and there are no re-quotes or rejection of orders. The broker also offers Islamic accounts for clients who adhere to Sharia law. 

One of the main advantages of trading with XM is the competitive and transparent fee structure. The broker has no hidden charges or commissions and spreads start from as low as 0.0 pips on the XM Zero account. There are no deposit or withdrawal fees and clients can choose from a range of payment methods, including credit cards, bank transfers and e-wallets. 

XM’s trading platform is MetaTrader 4 (MT4), which is one of the most reliable and widely used trading platforms in the industry. The platform is available in desktop, web and mobile versions and it offers a wide range of trading tools and resources, including technical analysis indicators, charting tools and expert advisors. The platform is also highly customizable, allowing traders to tailor it to their individual trading needs. 

In addition to its range of account types and competitive fees, XM offers a range of educational resources and tools to help traders improve their skills and stay up-to-date with the latest market trends. The broker provides regular webinars and seminars, trading signals and an economic calendar that highlights key events and announcements that may impact the markets. 

XM also has a reputation for excellent customer service. The broker offers support in over 30 languages and its’ support team is available 24/5 to assist clients with any questions or issues they may have. The broker’s website is also available in multiple languages and is easy to navigate, making it easy for clients to find the information they need. 

In summary, XM is a highly respected and regulated forex and CFD broker that offers a range of account types, competitive fees and a reliable and easy-to-use trading platform. With its commitment to customer service and its range of educational resources and tools, XM is a broker that is well worth considering for traders of all levels. 

XM pros and cons

One of the big advantages of using XM is the wide range of trading instruments available. The broker offers over 1000 trading instruments, including currency pairs, stocks, commodities and cryptocurrencies. This allows traders to diversify their portfolios and take advantage of different market conditions. 

Pros

  • Bonus up to 5000$
  • Free access to Market Research and Signals
  • Support in 30+ languages

Cons

  • Average Stock Index CFD commissions
  • Quite pricey inactivity fee

XM main features and highlights

Regulation

CySEC

Headquarters

Limassol, Cyprus

Year founded

2009

Num of instruments offered

1000+

Trading fees category

Average

Deposit/Withdrawal options

Credit/Debit card, Neteller, Skrill, UnionPay, Web money, and Bank Wire

Deposit/Withdrawal fee

No*

Min deposit

5$

Inactivity fee

Yes**

Max leverage offered

1000:1***

Trading platforms available

MT4/MT5/XM App

Islamic account

Yes

Customer support available in

30+ languages

Support 24h availability

Yes

Bonus

Yes****

Number of clients

5 MIL total num of clients since 2009

Mobile trading available

Yes

FEE

XM fees snapshot

Assets

Fee level

Fee terms

XM Micro Account

Average

From 0.6 pips + No comission

XM Standard Account

Average

From 0.6 pips + No comission

XM Zero Account

Average

From 0 pips + 3.5$ comission

*All fees and charges will be covered by XM except when depositing less than 200 USD via international bank wire transfer

**15$ one-off fee after one year of inactivity followed by 5$ monthly fee 

***Depending on account type 

****Up to 5000$ 

***** Total clients since 2009

 

Fees/Pricing 

When it comes to choosing a broker for your trading needs, fees and commissions should be an important consideration for traders of all levels. XM Broker offers low fees and commissions, making it a popular choice among traders. 

It is important to note that XM Broker charges an inactivity fee if there is no account activity for more than 90 days. For those interested in automated trading, the VPS service usage fee is $28 USD per month, however it can be free if trading requirements set by Black Bull Markets are met. 

Another fee that traders should be aware of is the swap commission, which is generated as a result of holding one or more open positions from one day to the next. XM Broker offers its Muslim clients Islamic (swap-free) accounts, which are free of overnight fees. 

When it comes to deposits and withdrawals, XM Broker is quite transparent with their commissions. The broker does not charge any additional fees for withdrawals or deposits and takes care of the fees generated by the payment processors on each transaction. However it should be noted that this only applies to online wallets and deposits by credit or debit card and International bank transfers equal or greater $200. International bank transfers of less than $200 will incur operational costs that will be passed on to the client. 

 

types of accounts

XM offers three types of accounts to its clients, each with its own unique features.

The XM Ultra Low Micro Account is designed for traders who are looking to trade with smaller capital. This account has a base currency option of EUR, USD and GBP, with a contract size of 1 Lot = 1,000. It features a spread on all major currency pairs as low as 0.6 pips and no commission. The minimum trade volume is 0.1 Lots, with a lot restriction per ticket of 100 Lots. The minimum deposit is $5, making it accessible to a wide range of traders.

The XM Ultra Low Standard Account is designed for traders who have some experience in the financial market and are looking to trade with a slightly larger investment. The base currency options for this account include EUR, USD and GBP and the contract size is 1 Lot = 100,000. The spread on all major currency pairs is as low as 0.6 pips and there is no commission charged on trades. The minimum trade volume is 0.01 Lots, with a lot restriction per ticket of 50 Lots. The minimum deposit is $5.

The XM Zero Account features a spread on all major currency pairs as low as 0 pips, but with a commission charge. The base currency options include USD, EUR and JPY and the contract size is 1 Lot = 100,000. The minimum trade volume is 0.01 Lots, with a lot restriction per ticket of 50 Lots. The minimum deposit is $5.

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