XM

A Unique and Powerful Forex and CFD Broker

XM is a forex and CFD broker that is regulated by the top-tier ASIC in Australia. It offers low stock CFD and withdrawal fees, as well as a variety of educational tools. However, XM has a limited product portfolio and average forex and stock index CFD fees. There is also no investor protection for clients onboarded outside the EU.

• Regulation by ASIC, a top-tier regulator
• Clean track record
• Investor protection of €20,000 to EU clients
• Wide range of trading platforms
• Excellent customer support
• Variety of funding and withdrawal options

However, there are a few things to keep in mind:

• Investor protection is $0 for clients outside of the EU
• Limited product portfolio
• Average forex and stock index CFD fees

Overall, XM is a good choice for forex and CFD traders, but it is important to be aware of the potential risks before you open an account.

Is XM safe or a scam?

XM is a safe forex and CFD broker regulated by multiple top-tier financial authorities, including the FCA, ASIC, and CySEC. This means that your funds are protected and that the company is subject to strict oversight.

Is XM Broker regulated?

Yes, XM Group is a regulated online broker group. It was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC). In 2015, XM established another entity, Trading Point of Financial Instruments, in Australia, which is regulated by the Australian Securities and Investments Commission (ASIC).

XM Global Limited, which was established in 2017, enables XM’s global operation. It is regulated by the Financial Services Commission (FSC) of Belize. While the FSC is an offshore license, it does not implement strict oversight of trading processes. However, XM’s additional regulation makes it an acceptable choice for traders.

Is XM a reliable broker?

Regulation is important because it helps to protect traders’ funds and ensures that brokers operate fairly. XM complies with all regulatory requirements, making it a reliable broker.

XM also keeps client funds in investment-grade banks and uses segregated accounts. This means that your funds are protected even if XM goes bankrupt. Additionally, XM offers negative balance protection, so you cannot lose more money than you have in your account.

Overall, XM is a safe and reliable forex and CFD broker.

Leverage

The amount of leverage you can use depends on your account type and the XM entity you are trading under. Leverage can range from 1:1 to 1000:1, but it is important to note that not all XM entities offer the same leverage levels.

For example, EU-regulated and AU-regulated clients have a maximum leverage of 30:1. The International entity, on the other hand, offers leverage up to 1000:1.

It is important to choose your leverage wisely, as it can amplify both your profits and losses. Be sure to read the terms and conditions of your account carefully before choosing a leverage level.

Here is a table summarizing the leverage levels offered by different XM entities:

Account Types

XM offers a variety of account types to suit different trading needs and strategies.

• Micro Account: This account type is ideal for beginners and traders who prefer to trade smaller sizes. Micro lots allow you to trade with just 1/100 of a standard lot.
• Standard Account: This account type is a good choice for traders who want to trade regular sizes. Standard lots are the most common lot size used in forex and CFD trading.
• Zero Account: This account type offers interbank spreads starting from 0 pips, but charges a commission of up to $75 per lot. This account type is suitable for experienced traders who are looking for the tightest spreads.

Please note that the availability of account types may vary depending on your XM entity. Be sure to check the XM website for more information.

Here is a snapshot of XM’s account offerings:

XM Account Base Currencies

XM offers a wide range of account base currencies, including the South African Rand (ZAR) and the Singapore Dollar (SGD). This allows you to choose a base currency that is convenient for you and avoid conversion fees on deposits and withdrawals.

Here are the benefits of choosing your preferred base currency with XM:

• Transparency: You can see exactly how much money you are depositing and withdrawing, without any hidden fees.
• Convenience: You can use your preferred base currency to fund your account and withdraw profits, without having to convert currencies.
• Savings: You can save money on conversion fees, especially if you are trading in multiple currencies.

To choose your account base currency, simply select it when you open an account with XM. Once you have selected your base currency, you cannot change it.

Trading Instruments

XM offers a wide range of trading instruments, including Forex, CFDs on stock indices, commodities, stocks, metals, energies, and cryptocurrencies. This allows traders to diversify their portfolios and trade a variety of different markets from a single account.

XM’s trading instrument selection is particularly strong in cryptocurrencies. The broker offers a selection of 60 cryptocurrency pairs for trading, including popular coins such as Bitcoin, Ethereum, and Litecoin. This highlights XM’s commitment to catering to the needs of traders in the ever-evolving digital currency market.

XM also offers a good range of stocks for trading, but it is important to note that these are mainly CFDs. This means that traders are not buying or selling the actual stocks, but rather speculating on their price movements. The conditions and offerings for stocks may vary depending on the XM entity.

Overall, XM offers a good range of trading instruments, but its European entity is limited to mainly CFDs and Forex instruments. International clients have access to a wider range of instruments.

Here is a summary of XM’s trading instrument selection:

• Forex: 55 currency pairs
• CFDs on stock indices: 12+ indices
• CFDs on commodities: 10+ commodities
• CFDs on stocks: 1000+ stocks
• CFDs on metals: 6 metals
• CFDs on energies: 4 energies
• Cryptocurrencies: 60 cryptocurrency pairs

Please note that the availability of trading instruments may vary depending on your XM entity.

XM Fees

XM charges variable spreads on all trades, just like the interbank forex market. This means that spreads can fluctuate depending on market conditions. XM also offers fixed spreads, which are higher than variable spreads but more predictable.

XM does not impose any restrictions on trading during news releases. This means that you can trade freely, even during periods of high volatility.

XM’s overall fee structure is ranked average to low, with an overall rating of 8 out of 10. However, it is important to note that fees may vary depending on the entity and the type of account you have.

Here is a summary of XM’s fees:

• Spreads: Variable spreads on all trades, with fixed spreads also available. Spreads for most currency pairs are on an average level.
• Non-trading fees: XM charges a small fee for inactivity, as well as a withdrawal fee for certain payment methods.
• Funding fees: XM does not charge any funding fees for deposits or withdrawals.
• Rollover fees: XM charges rollover fees on overnight positions.

Overall, XM’s fees are competitive with other forex and CFD brokers. However, it is important to compare fees carefully before choosing a broker, as they can vary depending on your trading needs.

Here are some tips for reducing your fees with XM:

• Choose the right account type: XM offers different account types with different fee structures. Choose an account type that is tailored to your trading needs and budget.
• Trade larger volumes: XM offers volume discounts on spreads and commissions.
• Use a low-cost funding method: XM charges different fees for different funding methods. Choose a funding method that has low or no fees

What is XM commission?

XM commission is a fee charged on XM Zero accounts for each trade that is executed. XM Zero accounts offer interbank spreads starting from 0 pips, but charge a commission of $3.5 per lot per 100,000 USD traded.

XM’s commission is transparent and competitive, and there are no hidden fees. You can use XM’s fee calculator to easily estimate your trading costs.

Fee conditions upon opening of trade:

• The commission fee is applied to both the opening and closing of a trade.
• The commission fee is calculated based on the volume of the trade and the exchange rate of the USD.
• The commission fee is deducted from your account balance before the trade is opened.

Example:

You open a long position on 1 lot of EUR/USD on an XM Zero account. The current exchange rate of EUR/USD is 1.1000.

Your commission fee will be calculated as follows:

$3.5 per lot * 1 lot * 1.1000 USD/EUR = $3.85

The commission fee of $3.85 will be deducted from your account balance before the trade is opened.

Conclusion:

XM commission is a fee charged on XM Zero accounts for each trade that is executed. XM’s commission is transparent and competitive, and there are no hidden fees.

Overnight fee

XM charges an overnight fee on all open positions held after 5:00 PM EST. The overnight fee is calculated based on the interest rate differential between the two currencies in a trade. For example, if you have a long position on EUR/USD, you will earn interest at the US interest rate and pay interest at the Japanese interest rate.

The overnight fee can be either positive or negative, depending on the interest rate differential. For example, if the US interest rate is higher than the Japanese interest rate, you will earn an overnight fee on your long EUR/USD position. However, if the Japanese interest rate is higher than the US interest rate, you will pay an overnight fee on your long EUR/USD position.

Note:

• All overnight fees are in pips for forex pairs and percentage points for cryptocurrencies.
• Overnight fees are subject to change and may vary depending on market conditions.

Conclusion:

The overnight fee is an important cost to consider when trading forex and CFDs. XM’s overnight fees are competitive with other brokers, but it is important to compare overnight fees carefully before choosing a broker.

Additional tips for reducing your overnight fee:

• Close your open positions before 5:00 PM EST to avoid the overnight fee.
• Trade with lower interest rate currencies, such as the Swiss Franc or the Japanese Yen.
• Use a smaller leverage, which will reduce your margin requirements and therefore your overnight fee.

XM Withdrawals

XM offers a wide range of withdrawal methods, including bank wire transfers, e-wallets, and credit/debit cards. XM does not charge any withdrawal fees, regardless of the method you choose. This is a significant advantage over many other brokers, which charge high withdrawal fees.

To withdraw funds from your XM account, simply follow these steps:

1. Log in to your account and go to the “Withdraw Funds” section.
2. Enter the amount you want to withdraw and choose your withdrawal method.
3. Complete the electronic request form and submit it.
4. Check the status of your withdrawal in your account dashboard.

XM processes withdrawal requests within 1-3 business days. However, the time it takes for the funds to be deposited into your account will vary depending on your country and the withdrawal method you choose. Bank transfers within the EU typically take around 3 business days, while other methods or institutions may process withdrawals almost instantly or take longer.

Overall, XM offers a wide range of withdrawal methods, competitive fees, and popular trading platforms.

Here are some additional notes:

• XM’s zero withdrawal fee policy is a significant advantage over many other brokers.
• XM’s Social Area platform is a unique offering that allows traders to connect and learn from each other.
• XM’s trading platforms are popular and well-respected in the industry.

Overall, XM is a good choice for traders who are looking for a broker with competitive fees, a wide range of withdrawal methods, and popular trading platforms.

XM Trading Platforms

XM offers its clients access to the popular MetaTrader 4 and MetaTrader 5 trading platforms, as well as its own proprietary platform.

XM recently launched its Social Area platform, which allows traders to connect, learn from each other, and compete for prizes and management roles. The platform also features Copytrade, which allows novice traders to copy the trades of more experienced traders.

Web Trading

XM’s web trading platform allows you to trade directly from your browser without having to download any software. The platform is fully integrated with XM’s website and offers a wide range of tools and features, including technical analysis tools, indicators, and stop and trailing orders.

Desktop Trading Platform

XM also offers a desktop trading platform that is available for Windows and Mac computers. The desktop platform offers more features than the web platform, including the ability to use multiple accounts simultaneously and to automate your trading with expert advisors (EAs).

Platform Trading Tools

XM offers a variety of add-ons for its trading platforms, including a free VPS for clients with a minimum balance of $5,000. The VPS allows you to run your EAs 24/7 without having to leave your computer on.

Overall, XM’s trading platforms are user-friendly and offer a wide range of features to meet the needs of both beginner and experienced traders.

Here is a table summarizing the pros and cons of XM’s web and desktop trading platforms:

Education

XM offers a comprehensive range of educational resources to help traders of all levels improve their skills and knowledge. The XM Learning Center provides access to a wealth of trading data, articles, videos, and webinars, as well as live education offerings and forex seminars.

XM’s educational materials are well-organized and high-quality, and the company’s Academy offers webinars, excellent trading videos, and more. Overall, XM’s education center is one of the best in the industry, earning a perfect rating of 10 out of 10.

Here is a summary of the key features of XM’s education center:

• Comprehensive range of educational resources for traders of all levels
• Well-organized and high-quality materials
• Live education offerings and forex seminars
• Excellent trading videos and webinars

XM’s education center is a valuable resource for traders who are looking to improve their skills and knowledge. The company’s commitment to education is one of its many strengths.

Research

XM offers a variety of research tools and market materials to help traders make informed trading decisions. These resources include:

• News feed
• Technical summaries and analysis
• Fundamental analysis
• Trade ideas
• Forex calculators
• MQL5
• Exclusive technical indicators

XM’s research tools are well-organized and easy to use, making it easy for traders to find the information they need. Additionally, XM offers exclusive technical indicators that are compatible with both MetaTrader 4 and MetaTrader 5, allowing traders to perform algorithmic trading.

Overall, XM’s research offering is one of the best in the industry, providing traders with everything they need to make informed trading decisions.

Here is a summary of the key features of XM’s research offering:

• Variety of research tools and market materials
• Well-organized and easy to use
• Exclusive technical indicators compatible with both MT4 and MT5
• Supports algorithmic trading

XM’s research offering is a valuable resource for traders of all levels, and it is one of the many things that makes XM a leading forex broker.

XM Customer Support

XM offers global customer support, with a team that speaks more than 25 languages, including Chinese, Russian, Hindi, Arabic, Portuguese, Thai, Tagalog, and more. The customer support team is available 24/5 via email, phone, or live chat.

Based on our testing, XM’s customer support is good, with knowledgeable staff who provide fast and reliable answers, especially on live chat. It is also relatively easy to reach the customer support team during working hours.

Overall, XM’s customer support is a valuable asset for traders who need assistance with their accounts or trading.

Here is a summary of the key features of XM’s customer support:

• Global coverage with support in more than 25 languages
• Available 24/5 via email, phone, and live chat
• Knowledgeable and responsive staff
• Relatively easy to reach during working hours