XM Review (2023)

1:30 to 1:888
Min Deposit
MT4, MT5, WebTrader


Trading Point of Financial Instruments UK Limited - FCA No.705428
XM Global Limited - FSC No.FSC/60/354/TS/19

What is XM.com?

The XM broker started its activity in 2009 and so far operating clients from over 196 countries with a support staff speaking in 30 languages and is among the most trusted Regulated Brokers. The main branch located in Cyprus regulated by CySEC, yet offices are truly covering global needs and serving through Australia, UK, Belize, Greece also authorized in Dubai and MENA region.

About 1.5 Million Traders and investors at XM choose its wide range of XM trading products and the services broker provides along with advanced trading solutions, yet suitable for beginning traders as well. The reason for such fast growth and trust to the broker is that XM aims to provide one of the best user experience in the industry to its clients.

At XM the account can be opened regardless of a net of capital with only 5$ or the trading experience, also with its global approach and discovery of new markets, XM supports webinars and research materials. Which allows traders from various international countries to engage and start trading carer.

Generally, all procedures from account opening, managing, depositing/ withdrawing, and trading is straightforward, simple and transparent, which we will see in detail further within XM review.

XM Pros and Cons

XM is a broker with great reputation and numerous regulations. The offering is user friendly and XM has one of the lowest deposit requirements among industry, CFD costs are low and platforms are very friendly to all types of traders.

On the other hand, XM has limited portfolio for EU clients, and outside EU clients there is no good investor protection.

10 Points Summary
🏢 Headquarters Cyprus and offices in UK, Australia
🗺️ Regulation ESMA, CySEC, ASIC, FCA, etc.
🖥 Platforms MetaTrader trading software offering MT4 and MT5 platforms
📉 Instruments Stocks, CFDs, Forex, Commodities, Portfolios, Metals, Cryptocurrencies
💰 EUR/USD Spread 1.6 pips
🎮 Demo Account Available
💳 Minimum deposit 5$
💰 Base currencies Various currencies
📚 Education Professional Education with webinars and Seminars
☎ Customer Support 24/5


Overall, XM achieved a great focus on the Client’s needs while offers very competitive conditions and a range of services that attract global traders. Apart from its highly good results and reputation among the trading community, XM received truly global recognition with many reputable awards for industry achievements including Best Forex Broker for Europe, Most Trusted Broker, etc.

Is XM safe or a scam

No, XM is no a scam. We consider XM a safe broker to trade Forex and CFDs. It is regulated and licensed by severl top-tier financial authorities including FCA, ASIC, CySEC. Therefore, it is secure and low-risk to trade.

Is XM regulated?

XM Group is a group of regulated online brokers, which serves as Trading Point of Financial Instruments Ltd established in 2009 and regulated by the Cyprus Securities and Exchange Commission (CySEC), another entity Trading Point of Financial Instruments was established in 2015 in Australia and is regulated by Australian Securities and Investments Commission (ASIC). Read more, why trade with Australian Brokers by the link  so the regulatory obligations are covered at a sustainable level as we see through our XM Review.

In addition, the global operation is enabled by XM global Limited established in 2017 and regulated by the Financial Services Commission, allowing to offer its services across the globe. Despite the fact that IFSC is an offshore license, that does not actually implement strict overseeing of the trading processes, yet additional heavy regulation of the XM made it an acceptable choice.

XM entity Regulation and License
Trading Point of Financial Instruments Ltd CySEC (Cyprus) registration no 120/10
Trading Point of Financial Instruments Pty Ltd ASIC (Australia) registration no 443670
Trading Point MENA Limited Regulated by the Dubai Financial Services Authority (DFSA) Reference No. F003484
Trading Point of Financial Instruments UK Limited Regulated by the Financial Conduct Authority FRN: 705428
XM Global Limited FSC (Belize) registration no. IFSC/60/354/TS/19

Is XM a reliable broker?

The main idea of the regulation is that the trader can trade secure, knowing that clients funds collaborate according to the strictest rules with minimized risks of fraud or unfair use. XM operates its trading environment according to the regulatory measures making it a reliable broker.

Client funds are kept in investment grade banks and use segregated accounts, also falling under the Investor Compensation Fund that ensures recovery of funds up to €20,000 in case broker goes insolvent (note that the coverage scheme depends on the particular entity). Besides, one of the advantages you will get as a trader is a Negative Balance Protection, so there is no risk to lose more than the available balance.


Depending on the account type and the entity under which the XM follows regulatory obligations, you are entitled to the leverage on a scale from 1:1 to 888:1. So to understand which leverage level you entitled to use, always refer to the conditions of your residency as various XM entities apply different conditions again due to regulatory obligations.

  • XM offers leverage up to 30:1. This Leverage applies to the EU regulated entity of the Group.
    Also, Leverage depends on the financial instrument traded
  • XM Australian entity and its regulation allows up to 500:1
  • And International entity offers high leverage of 1:888

However, always choose your leverage smartly, as well as the entity under which you would like to trade, which you may learn more through the XM education center.

Besides, leverage always depending on the financial product you use, alike European clients of Trading Point Cyprus may express a ratio of 1:5 for Cryptocurrencies and even a maximum of 1:2 for some products.


Overall, XM made it a simple as you may choose preferred trading style through either account to trade smaller size through Micro Lots, or to trade regular size with Standard account based on spread only basis. Lastly, Zero Accounts will offer you another fee strategy where the spread is an interbank quote starting from 0 pips and the trading charge will be deducted through a commission per lot.

Can you open XM account in South Africa?

If you are a trader from South Africa – yes you can open XM account, as XM applied for registration to local regulator since 2016 and even since appealing to South African traders. So truly worldwide traders can enjoy great customer-oriented features XM offers and engage in all the trading benefits relatively easily.

Account Base currencies?

As for the account base currencies, XM added extra flexibility in this regard too, as choosing XM Account you may select the base currency of your preference from the great supported selection. This range includes even South African Rand (ZAR) or Singapore Dollar (SGD), besides to other global currencies.

So all in all register with XM allows you transparency of money transaction, while you will avoid conversion fees for both deposits and withdrawals while selecting your preferred base rate.

Trading Instruments

Besides to its good features, XM makes trading more pleasant by a huge variety of products so you will enjoy a great choice that meets expectations and preferences.

A range of trading markets available from a single multi-asset account that offers 6 Asses Classes and includes about 55 currency pairs with a total over 1000+ trading markets. And so you are able to trade Forex or CFDs on stock indices, commodities, stocks, metals, energies and Cryptocurrencies at XM all available from the same trading account.


XM operates with variable spreads, just like the interbank forex market and imposes no restrictions on trading during news releases. XM fixed spreads are higher than a variable once, as well are more flexible to different trading strategies. That means all trading costs are calculated into a spread with no hidden fees and tightest spread offering. Also, while selecting the broker you should check not only spread but also consider non-trading fees, withdrawal fee or other charges which applicable so that you will see the full picture.

Fees XM Fees FXTM Fees AvaTrade Fees
Deposit fee No No No
Withdrawal fee No No No
Inactivity fee Yes Yes Yes
Fee ranking Average Average Low


XM pricing and costs are based on a spread, in case you will open Micro or Standard account. Also, XM spread is a fractional pip price that gets the best prices from XM’s various liquidity providers. Meaning, instead of regular 4-digit quoting prices you can benefit from the smallest price movements by adding a 5th digit, known as a fraction.

Below you may see average spread reference calculated throughout the day on a Standard account presented for most popular products. Even though some spreads might be higher than its industry competitors, the overall fee structure is rather average for Forex products and low cost for CFDs.

Asset/ Pair XM Spread FXTM Spread AvaTrade Spread
EUR USD Spread 1.6 pips 1.5pips 1.3 pips
Crude Oil WTI Spread 5 pips 9 pips 3 pips
Gold Spread 35 9 40
BTC USD Spread 60 20 0.75%

What is XM commission?

The commission fee is added on XM Zero Accounts only, as you will be trading with interbank spread quotes starting from 0 pips and commission charge as a trading fee. XM applies transparent conditions and a quite competitive offering of $3.5 per lot per 100,000 USD traded. Also, you may use the fee calculator provided by the XM for an easy understanding of your costs.

Fee conditions upon opening of trade

Overnight fee

Lastly, you should calculate also XM overnight fee or the fee that a trader pays in case the position is opened longer than a day and is agreed through a swap contract that comes as a cost. Every currency has a different interest rate which comes as a calculation.

As an example assume that the interest rates in Japan and the US are 0.25% p.a. and 2.5% p.a. respectively, with an open position, you can either gain USD 6.16 per day or lose USD 6.16 per day, as the rollover calculated as an interest to borrowed currency or earned on the purchased currency.

You may see also swap fee conditions on the snapshot above, as well for better information check out and compare XM fees with another broker Pepperstone.

Deposits and Withdrawals

The funds transaction at XM are managed in a customer-oriented way too, traders having a choice of multiple payment methods supported in all countries. Various payment options including commonly used, also XM again took care of clients’ comfort and introduced a local bank transfer option, which enables to fund the account through local banks and currency with no conversion charges.

Deposit Options

  • Credit cards
  • Bank wire and Local Bank Transfer (available in some regions)
  • E-wallets including Neteller, Moneybookers Skrill, Western Union, etc

XM minimum deposit

XM Minimum Deposit amount is 5$ only for Micro Account or a Standard Account, in case you wish to trade with Zero account minimum deposit is competitive also, demanding 100$ as a start. However, the amount varies according to the chosen payment method and trading account validation status. Yet, you can read and find all the necessary info in the Members Area.

XM minimum deposit vs other brokers

XM Most Other Brokers
Minimum Deposit $5 $500

XM Withdrawal

XM withdrawal options are the same as the deposit ones, including Bank Wire transfers, e-wallets and Credit Debit cards. XM applied 0% Withdrawal Fee and offers zero fees on both deposits & withdrawals. Very pleasant addition indeed, as the XM company got all the transfer fees covered including e-wallets, major credit cards, instant account funding, and wire transfers with no hidden fees or commissions.

Moreover, while the majority of brokers still charge for wire withdrawals, XM deposits and withdrawals above 200 USD processed by wire transfer are also included in the Company’s zero fees policy.

How do I withdraw from XM Account?

TO withdraw funds from your XM trading account you should simply follow next steps, also never hesitate to contact customer service in case of any questions or terms.

Withdraw money step by step

1.    Login to your account

2.    Select on Withdraw Funds’ at the menu tab

3.    Enter the withdrawn amount

4.    Choose the withdrawal method

5.    Complete the electronic request with necessary requirements

6.    Confirm withdrawal information and Submit

7.    Check the current status of withdrawal through your Dashboard

How long does XM Withdrawal take?

While the XM Accounting team process withdrawal requests quite quickly within 1-3 business days it depends on the country the money is sent to, as variously rules and policies apply. The standard bank within the EU will take around 3 working days for the money to be available on your account, yet some methods or institutions may process almost instantly or take longer, all depending on the payment method you use.

Trading Platforms

In terms of the trading software, XM clients access to make transactions and trades throughout well-known and nearly perfectly-developed trading platforms MetaTrader4 and MetaTrader5.

Platform Ratings

XM chooses their technology on a most popular industry platforms MT4 and MT5 not by case, but obviously for traders’ advantage, as the platforms are very known and allow you to get numerous extensions or access comprehensive education on how to use tools. So the platforms gaining high ratings due to its international recognition and are always a plus towards brokers’ proposal.

Web Trading

Directly accessible just from one account and available in various versions all platforms are integrated with a full site of technical analysis, indicators and comprehensive tools, stop or trailing orders. SO you may access XM trading just by the use of the browser and login to Web Trading.

Pros Cons
User friendly software Only MetaTrader offered
A mainstay at MT4 and MT5 platforms
16 Different platforms suitable for Web, Mobile and Desktop trading
Mobile App for iOS and Android
Simple to use
Fee Report
Supporting numerous languages

Desktop Trading Platform

Though XM made the software even more advanced and suitable through 16 Trading platforms, which cater just any device including web, mobile, and even multiple accounts trading. So you get full account functionality and make the trading process at ease and comfort if you select the Desktop platform or other versions to trade.

Since XM uses MT4 or its newer version MT5 you are able to use its powerful capabilities along with automated trading or the trading robots. EAs available with unlimited use of charts for those that prefer technological trading, also great manual trading tools will assist in your strategy as well. So overall all demands and trading needs are covered and are at very sustainable level.

Look and Feel

MetaTrader is known for its clean and good feel while trading, also its Charting are among the most powerful offerings in the industry. So, the same as we do, you will enjoy its look and functions offered.

Mobile Trading Platform

Of course you are able to use your mobile for trading as well, XM MT4 Android and iOS apps, along with XM MT5 apps will give you access to trading account with full account functionality. MT4 and MT5 apps also offering great charting with 3 Chart Types, over 30 technical indicators in its package and full trading history journal. So

How to place orders with XM?

Placing of order is a quite seamless process, as MT4 or MT5 also allows one click trading option. So you may choose between pending order or market order available on all platforms. There are risk tools available as well, which you should never skip and stick to your strategy. So to place an order you should follow the next steps

  1. Through Market Watch select the product you wish to trade
  2. Right click on the symbol “New Order”
  3. Select the order either Pending Order or Market Order under the “Type”
  4. Set Risk, Reward and Expectancy levels through set of Volume, Stop Loss, Take Profit
  5. Select Place
  6. Once done on you may adjust or cancel your order at any time, as well as close it manually once executed

Platform trading tools

In addition, there are numerous XM’s add- ones allowing you to enjoy extra benefits that the platform offers. This includes also XM VPS, Rapid Trade Execution and remote connection to a Virtual Private Server(VPS). The XM VPS brings non-stop work without your monitoring or even having the computer on. Clients that maintain a minimum amount of $5,000 or equivalent, are eligible to request a Free VPS, for the ones’ that can’t meet the requirement, still can request a tool with a monthly cost – $28.

Customer Support

As for the customer support and service, as we see XM globally covers trading needs while the customer service team available in international locations and speaks more than 25 languages including Chinese, Russian, Hindi, Arabic, Portuguese, Thai, Tagalog and more languages.

Customer service available 24h 5 days a week and available for your concerns and answers either through email, phone or live chat. Also, we found that service is a good quality with reliable answers, which confirms again XM’s client oriented policy.


Along with great customer service, every client can access numerous educational materials through XM Learning Center with trading data and other necessary information that brings trading to a better level. In this regard, XM went also far and beyond with great respect and wide education support throughout various regions with a purpose to educate traders.

Indeed, you should never skip the education and your personal improvement, as those who have data can make much smarter decisions and XM will support your strives in this regard too.

With XM you may count on a quality learning defined also by your level, which includes Live Education offerings, Educational Videos, Forex Webinars and regularly held Forex Seminars in various destinations. In addition, there are very well organized tutorials, videos and tools at your disposal.


In terms of research tools and Market materials, you will find it in order too. Along with News Feed, Technical Summaries and Technical Analysis, XM provides Fundamental Analysis and Trade Ideas suitable for beginning or advanced traders.

We do really like the way XM organizes its research tools as well, as you will find in one place everything that is required for your smarter trading decisions along with Forex Calculators, MQL5 and more. Also, exclusive technical indicators compatible with both platforms available for subscribers also making it possible to perform algorithmic trading.


In conclusion XM Review, it is a well-regulated broker with numerous highly respected licenses that delivers truly transparent conditions and is an extremely customer friendly broker. No re-requotes and no hidden fees or commissions policy, as well Negative balance protection, brings very comfortable as well the strict real-time market execution policy, making XM very welcomed among trading offering. So one of the most generous proposals in terms of costs, trading conditions and opportunities overall, makes XM a truly human broker.

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Khaled ghaly Says:
At: 1 year ago

Dear sir

How can I get xm master card


At: 1 year ago

I made a withdrawal request on April 19, since then they said it would be processed for 2-5 working days, it’s more than 2-5 working days and I haven’t yet seen anything,Then, yesterday I Sent an email to XM support or whatever, and I haven’t gotten a response till now as I type…

XM, I’m not impressed, your services are poor!

Florence Paulus Says:
At: 1 year ago

Comment Area
Is it allowed for individual trade or for corporate Clint’s only? Interested to know.

XM.com Representative Says:
At: 1 year ago

Dear Florence,
We are not offering corporate trading accounts.

Amitkumar Chauhan Says:
At: 1 year ago

Xm legal in india?

XM.com Representative Says:
At: 1 year ago

Dear Amitkumar,
We do accept clients from India

Mason Dizon Says:
At: 1 year ago

Is dragonpay legitimate to transfer my funds? I would like to verify if I can transfer my requested withdrawal of money direct to my savings account? BDO

XM.com Representative Says:
At: 1 year ago

Dear Mason,
We are currently not collaborating with dragonpay. You can see the available deposit/withdrawal methods on our site (e-wallets, credit/debit cards, online Banks, Traditional Banks)

Blessed Says:
At: 1 year ago

Can I trade crash and boom on xm

XM.com Representative Says:
At: 1 year ago

Dear Blessed,
We are currently not offering this market. You can see the available Indices in the following link

Mohd suhaimi bin afifuddin Says:
At: 1 year ago

Its a scam … They came up with wild accusations when i try to widthdraw from my bonus acc… I would stay away from this type of trading company

Timi Says:
At: 1 year ago

Stop saying nonsense please,XM clearly stated that you can not withdraw bonuses given to you. You can only withdraw your profits from your account balance.

Saddam Hussain Says:
At: 1 year ago

Hy, is it XM available in Pakistan?

Innocent Says:
At: 1 year ago

Am from Uganda, can I trade with you?

Galen Says:
At: 1 year ago

Is it possible to trade with XM from Zimbabwe? Please assist

Kundie Says:
At: 1 year ago

Yes it’s possible

jiginold lopez Says:
At: 1 year ago

my first account on xm global is for pc and mac and my plan for that account is for long term trading for a shortestime is one year so i made another account for my mobile phone. that im using right now. i monitor my first account thrue my daily report. but last week when i try to open my first account using my pc i was surprice that i cant access it any more.so i try to contact there costumer support here in the philippines it say to me that i close that account WHY do i have to close my first account that i know that i have deposit to that account for me to trade. and there staff came back to me and say if i accidentaly close that account theres is no problem because my fund and my profit that i gain is still on that account they only just need to investigate to fix the problem and reopen that account. so i wait a while but when she came back to me the good conversation suddenly change they accusing that i close that account.could anyone here in comment section would you close your own account if you deposit your savings just trade. and i know what the reason because when the time they investigate my first account they saw a gain a big profit and i mean big thats why they accusing me on closing my own account what they want is to get my profit for there own good no i will not allow that i will fight for that account because that is mine they dont want to reopen it because they so the big profit that i gain for almost 1 1/2 months of trading on that account. your filipino support in the here in my own country i think XM GLOBAL need to investigate in your filipino support because many on there comment section has a problem just the same im experience right now i will not give this up xm global family fix this if not i will make the right way to get what i deserve to get by the way for the first time i trade in XM i screen shot all my deposit and i dont use your demo account

SEKO Says:
At: 1 year ago

I was so close to open an account with them, Thanks for the heads up and I hope they will give your money back to you.

J Says:
At: 1 year ago

Jigi, were you able to get your funds from XM?

Aint Says:
At: 1 year ago

Hi! thanks a lot for your heads up. this truly doesn’t sound good but your experience is a great help.

Uqaab Agha Says:
At: 1 year ago

Thanks for This information. I also want to open a trading account with XM. After saw your review I Changed my mind.

Herrilyn Says:
At: 1 year ago

So far i just started to open an account here in XM im a filipino small time trader though but after gaining profit i tried to withdraw fortunately nothing bad news came up it all goes smoothly though i will just wait for 24hrs for me to recieve my profit

tamale moses Says:
At: 1 year ago

dd u receive you funds dear