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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:[email protected]
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

XM Review 2020

Review Contents:

  1. Introduction;
  2. Trading Account Types at XM;
  3. XM Trading Conditions;
  4. Trading Elements Offered at XM;
  5. Safety of Funds, Regulations, and Licenses;
  6. Additional Information;
  7. XM Review Conclusion.

Introduction: Many Assets and Strong Regulations

XM is a part of the XM group, which is a part of the Trading Point of Financial Instruments UK Ltd. It was established in 2009. It 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 have 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 gather much information as possible about any broker before you invest money with them. We hope this review will help you make the right decision.

XM.COM home page

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
  • Average 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
  • Average 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
  • Average 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
  • Average 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

choose a big fair and a human broker

Trading Conditions at XM

XM has been in the industry for a decade. They have developed enough experience. Thus, they have the right tools to provide to their traders. They offer over 1000 trading instruments, average 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. 1:1 to 1:888 for $5-20,000
  2. 1:1 to 1:200 for $20,001-100,000
  3. And 1:1 to 1:100 for $100,001 and more

It is great that XM gives an option to choose your own leverage. Nevertheless, 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 it 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 traders could ask for. In fact this makes XM a great broker for beginners.

XM offers both MT4 and MT5 platforms to the users. You can download either one 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. However, there are some drawbacks. Such as having a high leverage on small deposits. But overall, 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 currency 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 continues to become 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, and they have strong 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 to 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

The 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 including so many cultures in 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.

forex awards

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 of this XM review we have to state that, 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 XM zero 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 XM zero accounts
  • Welcome bonus for all XM zero 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.

General considerations

Thus, you see that XM is providing a wide range of possibilities for trading. Moreover, you can choose your own leverage. Nevertheless, leverage only lowers with large amounts of deposits. Thus, higher leverage involves much higher risk. XM is concerned about protecting users from losing too much money at once.

As you already know the minimum deposits at XM is very low. You can open $5 to open a live account. Thus, XM is a very good broker for beginners as well.

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

The XM website is very simple. When looking for any information about the broker, that can be very handy and useful. The website is also available on various languages. The languages include Vietnamese, Portuguese, Korean, Spanish, Arab, Polish, German, Italian, French, Indonesian, Russian, Greek, Chinese, Malaysian, English and more.

At XM the service of customers has won multiple awards. They are providing help in fourteen languages. Moreover, via email or telephone you can get in touch with the customer support. They are available during the forex trading days 24 hours. To find their live chat you have to go to the menu and find it there. As it does not pop up on the homepage. Thus, the chat will pop at the end of the window, once you click the tab.

Bottom line – regulations and safety

Also, XM has the regulations and high security of course. XM is considered to be a trustworthy broker. One of the most important aspects is the safety of funds. Thus, XM provides that aspect: the highest amount of security possible. If you want to develop your knowledge with the help of the educational materials then XM is the right choice for you. Good luck!

XM.COM logo

Overall
4.5
  • Support
    (4.5)
  • Platform
    (4.5)
  • Spread
    (4.5)
  • Trading Instrument
    (5)

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