XM Review 2019 By FinanceBrokerage - Is XM a Good Broker?
2
General Information
Broker Name:XM.COM (Trading Point of Financial Instruments Ltd.)
Broker Type:Forex
Country:Australia
Operating since year:2009
International offices:Cyprus, Belize
Regulation:CySEC, FCA 120/10
Address:No.5 Cork Street, Belize City, Belize, C.A.
Broker status:Regulated
Customer Service
Phone:+501 223-6696
Email:support@xm.com
Languages:English, Spanish, Russian, Chinese, Arabic etc.
Availability:24/5 GMT
Trading
Trading Platforms:MetaTrader 4
Trading platform(s) timezone:GMT+2
Demo Account:Yes
Mobile trading:Yes
Web based trading:Yes
Bonuses:• A $30 no deposit bonus offered to all new clients;
• An instant and automatic 100% bonus upon executive level entry to the XM Loyalty Program;
• A monthly opportunity to win $50,000 and gain entry to the final round of the Forex World Championship (Prizes include: $500,000 in cash prizes, and 12 rounds of $1,000,000 in prizes)
Other trading instruments: Forex, stock indices, oil and gold
Account
Minimum deposit ($)$5
Maximal leverage (1:?)1:888
SpreadVariable
Scalping allowedyes
Platform Review
XM Review Content

● Introduction
● Account Types

○ Micro
○ Standard
○ XM Ultra Low
○ Shares

● Trading Conditions
● Trading Elements
● Safety of Funds, Regulations, and Licenses
● Additional Information

○ Website
○ Customer Support
○ Educations
○ Payment Options

● Conclusion

○ Bonuses



XM Review 2019 — Many Assets and Strong Regulations



XMis a part of the XM group, which is a part of Trading Point of Financial Instruments UK Ltd. It was established in 2009 and managed to become one of the biggest trading firms in the industry. XM has over 1.5 million clients from 196 countries. They pride themselves on being fair, understanding and big. They provide many elements that become useful to traders.

This XM review will analyze all of the advantages and disadvantages of the broker. We urge you to read the full review before you trade with XM. It is always important to know as much as possible about any broker before you invest money with them. We hope this review will help you make the right decision.


XM.COM logo

Trading Account Types at XM

XM offers four account types to traders. See the full list of their features below.

Micro Account
● Base currency options —USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
● Contract size — 1 lot=1,000
● Maximum leverage — 1:888
● Negative balance protection — Yes
● Spread on all majors — From 1 pip
● Commission — None
● Minimum trade volume — 0.01 on MT4, 0.1 on MT5
● Trading bonuses — Yes
● No deposit bonuses — No
● Islamic account — Optional
● Minimum deposit — $5

Standard Account
● Base currency options —USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
● Contract size — 1 lot=100,000
● Maximum leverage — 1:888
● Negative balance protection — Yes
● Spread on all majors — From 1 pip
● Commission — None
● Minimum trade volume — 0.01 Lots
● Trading bonuses — Yes
● No deposit bonuses — No
● Islamic account — Optional
● Minimum deposit — $5

XM Ultra Low Account
● Base currency options —USD, EUR, GBP, AUD, SGD, ZAR
● Contract size — 1 lot=100,000 or 1 lot=1,000
● Maximum leverage — 1:888
● Negative balance protection — Yes
● Spread on all majors — From 0.6 pip
● Commission — None
● Minimum trade volume — 0.01 Lots or 0.1 lots
● Trading bonuses — No
● No deposit bonuses — Yes
● Islamic account — Optional
● Minimum deposit — $50

Shares Account
● Base currency options —USD
● Contract size — 1 share
● Maximum leverage — None
● Negative balance protection — Yes
● Spread on all majors — Varies
● Commission — Yes
● Minimum trade volume — 1 Lots
● Trading bonuses — No
● No deposit bonuses — No
● Islamic account — Optional
● Minimum deposit — $10,000

XM.COM logo


Trading Conditions at XM

XM has been in the industry for a decade. They have developed enough experience to have the right tools to provide to their traders. They offer over 1000 trading instruments, spreads as low as 0.6 pips, leverage of up to 1:888 and very generous bonuses.

The leverage varies on the deposit, available funds on the account and trading size. See the list below.
● 1:1 to 1:888 for $5-20,000
● 1:1 to 1:200 for $20,001-100,000
● 1:1 to 1:100 for $100,001 and more

It is great that XM gives an option to choose your own leverage, though leverage only lowers with large amounts of deposits. Higher leverage involves much higher risk, so it makes sense why it is higher for lower deposits. XM wants to protect its users from losing too much money at once, thus offers 1:100 maximum leverage of $100,000 or more.

The spreads are average for the industry. Though the lowest available spread is 0.6 pips, it is still not good enough for the industry. Especially that the lowest spread is on the micro account.

The minimum deposits are very low. $5 to open a live account is more than what the traders could ask for, making XM a great broker for beginners.

XM offers both MT4 and MT5 platforms to the users. You can download either of the platforms on your mobile, desktop or trade from the web. The advantages of both platforms are that they are versatile, provide charting analytics, expert advisors, and more.

Overall, the trading conditions at XM are good. There are some drawbacks, such as high leverage on small deposits. Though the specs offered outweigh the disadvantages.

Trading Elements Offered at XM

XM offers over 55 currencies to trade. They have major, minor and some exotic pairs. XM also offers five cryptocurrencies, including Bitcoin, Litecoin, and Ethereum. Their CFDs are vast, offering over 940 options such as precious metals, oils, stocks, and more.

The options for tradable financial instruments are pretty good. Though the currency list is comparably short to other brokers, it still offers all the basic pairs. The CFD list is large, giving you a chance to dabble into whichever commodity or stocks you would want. It is also great that XM offers cryptocurrencies since we have come across many brokers who do not. As crypto keeps becoming more popular on a daily basis, it is important to have an option to trade it from the start.

XM.COM logo

Safety of Funds, Regulations, and Licenses at XM

XM prides itself on their regulations. As they are active in many different countries, they have regulations to prove their trustworthiness to their users.

XM is regulated by ASIC with their license number 443670. Also by IFSC with the number IFSC/60/354/TS/18, CySEC 120/10, and FCA 705428.

ASIC is the regulating financial institution in Australia. They are strict and demanding. The fact that XM is regulated by ASIC is definitely reassuring.

IFSC is also quite important in global regulations. They are relatively new on the market but still provide strict regulations.

CySEC is not seen as the most trustworthy regulator, as they are offshore. But they still regulate many great brokers. In the end, it depends on the broker itself to prove users their trustworthiness.

FCA is one of the toughest regulators in the world. Receiving their regulation is hard, as there are many requirements. Seeing FCA on the list of XM regulators is definitely a very big positive sign.

Overall, we consider XM to be a well-regulated broker. We consider them to be trustworthy. Your funds are guaranteed to be safe with XM.

Additional Information About XM

XM website is overly simplified. This comes in handy when looking for any information about the broker. Their menu lists everything, without having to open any drop downs. The website is available in a good amount of languages, such as English, Malaysian, Chinese, Greek, Russian, Indonesian, French, Italian, German, Polish, Arab, Spanish, Korean, Portuguese, Vietnamese, and more. We are happy to see XM include so many cultures into their user base.

The customer service at XM has won multiple awards. They provide help in fourteen languages. You can get in touch with the customer support via telephone or email. They are available 24 hours during trading days. Their live chat does not pop up on the homepage, rather you have to go to the menu and find it. Once you click the tab, the chat will pop up at the end of the window and you will have to put in minimal credentials to start speaking with a representative.

XM.COM logo

XM provides a large list of educational content. They have some of the best material to offer in the industry. They have beginners, intermediate and professional levels. Whichever type of trader you are, you will definitely benefit from their courses and ebooks. They are easy to find on their website, everything is listed on the menu.

The Payment options are inclusive to many countries and XM keeps updating their options. They offer:
● Credit/Debit cards
● Bank wires
● E-wallets


They recently added more ewallet options, such as Moneta, Qiwi, Cashu, Abaqoos, Przelewy24, GiroPay And FasaPay. They have no fees for transfers unless it involves international bank wires. Even then they vary depending on the bank itself but XM does not add any additional charges.

XM Review Conclusion — Very Well Regulated Broker

In the end, we are quite satisfied with XM. They have high security and regulations, due to which we consider XM to be a trustworthy broker. We consider the safety of funds to be one of the most important aspects in trading and XM seems to provide a higher amount of security possible.

They provide a good amount of options for account types. Whether you wish to develop your skills on demo and novice accounts or want to trade professionally, you receive good benefits. We would also like to mention their bonuses which include:
● No deposit bonus for specific accounts
● Welcome bonus for all accounts
● Loyalty programs
● Special seasonal bonuses

It is great to see brokers reward their users from the get-go. Loyal users receive many benefits which give you tradable points. The welcome bonus is equal to a 100% match for up to $5,000. The no deposit bonus is $30 and can be used immediately upon registration.

Overall, we are happy with XM. We think they might be worth your time, especially if you want to develop your knowledge thoroughly with educational materials. They provide good tools for traders. We think you will be satisfied with what you receive. Good luck!

XM.COM logo
Overall
4.5
  • Support
    (4.5)
  • Platform
    (4.5)
  • Spread
    (4.5)
  • Trading Instrument
    (5)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!

2 Comments

  1. Angelo Baxter November 29, 2018
  2. Bryan Timmons July 2, 2019

Leave a Reply

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending

Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.

Welcome to Email Subscribers Group Selector