XM Review 2022, Safety, Platforms and Fees

If this is not possible, they will transfer the funds to your identified bank account. This account must be in the same name as the account maintained with XM. XM requires a $5 minimum withdrawal for Micro and Standard accounts.

xm broker review

For new traders, we always recommend starting with a paper trading demo Forex account. It is not advisable to open a full-service account until you are sure about the platform and are consistently making net-profitable trades. Covering Forex platforms, trading apps, broker reviews, and all regulated online trading sites. XM.com is considered by many traders to be one of the most reliable forex broker available for those who wish to execute real-time trades.

XM review Trading platforms

Clients with an account balance of at least $5,000 or the equivalent amount in another currency may activate the VPS service free of charge at any time. You can connect the service in your personal cabinet, provided that the client’s trading volume is at least 5 full lots per month gartley pattern or 500 full micro lots per month. Those users who do not meet the above conditions can also request the XM VPS service for a monthly fee of $28 USD. Every new user can get a welcome bonus, which allows you to start trading and making profit immediately after opening an account.

Because XM employs MT4 and MT5, you can take advantage of its advanced features, such as automated trading and trading bots. And for those who favor technology trading, they can always use EAs with unlimited chart usage and manual trading tools. XM TV, a product of XM, is an absolute gem, providing outstanding daily in-house market commentary that strongly competes with leaders in video, such as Saxo Bank, IG, and CMC Markets.

AVOID THEM AT ALL COSTS BECAUSE THEY WILL MAKE SURE YOU LOSE ALL YOUR MONEY. They are market makers and they make money when their clients lose money. They do not have an interest in people who are making money. On the other hand, XM has a limited product portfolio as it offers mainly CFDs and forex. Its forex and stock index CFD fees are average, and there is no investor protection for clients onboarded outside the EU. On the plus side, we liked the low stock CFD and withdrawal fees. There is a wide range of educational tools of great quality.

Is XM a good forex broker?

XM Group is considered average-risk, with an overall Trust Score of 90 out of 99. XM Group is not publicly traded, does not operate a bank, and is authorised by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust).

The broker’s clients will enjoy a high level of transparency and have quick access to important information about types of accounts, legal docs, commissions, and fees. This fee is charged in case there was no activity in the trading accounts for 90 days. XM does not have deposit, withdrawal, or account closing fees. Good trading conditions, spreads are fine, trading platforms are stable and reliable. My only issue is my leverage is being lowered during high news releases. I have 14 active clients under my network, so I earn a decent amount of extra income every month.

Within MT4 there is also a variation of this for XM, called MT4 multiterminal, but it has more functions. MT4 Multiterminal was created with traders who wanted to use more than one MT4 account from a single terminal in mind. Fractional pip pricing is also available which allows traders to receive the best prices from XM’s liquidity providers. Most brokers restrict trading when news announcements are approaching which makes the insurance premium useless, anyway.

Most Trusted Bitcoin Investment Platforms

There are four types of user accounts that XM offers for its users. The following accounts allow up to 200 open or pending positions for each client. There are several reasons why XM is one of the best-regulated brokers and trading service providers. One can test the XM brokering experience with a demo account to its trading platforms thinkmarkets review and services. But, before you invest your thousands of dollars with this particular broker service, it is essential to know the ins and outs of it. From auto trading services to commissions spread, this XM review explores how this CFD and FX broker service registers its proclaimed 99.35% efficiency across its activities.

I had no issues with my withdrawl, it was in my bank account in either 2 or 3 days. 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 the South African Rand or Singapore Dollar , besides to other global currencies. 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.

xm broker review

The Micro, Standard, and Zero trading accounts are more or less similar. Currently, the platform does not allow users to deposit money via PayPal. Users from different regions get technical support with the platform’s multi-linguistic support. Users from certain regions, particularly Canada and the United States, are triumphfx review restricted from using the platform due to regulatory non-compliance and regional licensing limitations. The XM.com review observes the plus points of the group have a higher weightage than their downsides. One of the advantages of opting for the XM platform is the demo account that the XM group offers to its users.

Promotions and Bonuses

It’s nice to deal with professionals, the system works quickly and steadily. Transactions can be quickly closed, but I wait when there will be an opportunity to trade bitcoin. It is convenient because you can trade in normal volumes with an acceptable level of slippage.Support quickly answers me on various issues.

The broker has a good score in the Fees category thanks to moderate spreads in the Standard Account and reasonable swap rates. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about.

Trading ideas

In this article, we will be talking and reviewing one of the top brokers in the world, XM Forex broker. We have seen almost every single of them and XM forex broker is one of those who left the most remarkable impression. If you were looking for a partner, you no longer have to check the horoscope or think twice, but definitely check XM.

What broker is better than XM?

Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while XM Group holds 3. XM Group holds 2 global Tier-2 licenses, while Interactive Brokers holds 1. In our analysis of 23 international regulators across 50 brokers, Interactive Brokers earned a higher Trust Score than XM Group.

Based on the above XM broker review, the financial service called XM Group has emerged to be quite a leader in its industry. Since 2009, the group has expanded its financial services across multiple domains and regions. The XM review finds that the group has evolved pragmatically over the years. It poses an average-risk to the trader with its two tier-1 jurisdiction authentications.

XM Fees Compared

Most of the brokers have already updated their risk warnings stating the loss percentage, although some of them are yet to add their values on the websites. It is the beginning of the third quarter of the year, which means it’s time for the quarterly reports with the unprofitability percentage from the forex brokers. 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.

You can try their platform and trading conditions with no strings attached. Execution is one of the fastest I’ve experienced, no requotes and no slippage. Support is very professional, they answer my questions clearly. For 7 months, I’ve been trading currencies with this broker exclusively. Execution of orders is lightning fast, and they charge super cheap commissions.

Which is better ECN or STP?

Which is better ECN or STP? ECN accounts can offer tighter spreads and a cheaper overall cost of trading in liquid market conditions, but STP brokerages can offer a similar ease and cost of execution without the disadvantage of the increased cost from a dealing desk.

There are 4 main accounts to choose from on XM, and commissions and fees are determined by the account type and the chosen global entity. The commission-based Zero and the Ultra Low account are cost-effective. However, the commission-free Standard and Micro accounts are rather costly. It’s worth noting that the Zero and Ultra Low accounts aren’t available in every XM entity. On the positive side, there are plenty of things to like about XM.

An official national identity card, passport, or driver’s license can be used to verify identification. Response times are very fast for verification after you upload images. We found their response time is quick and representatives provide relevant answers. Live chat response was quick, phone support was great and we got the answers to our questions. It’s always nice to know that if you do need assistance at any time, you’ll get it quickly and efficiently. Support is available in a wide range of languages, with native speakers providing assistance to clients in over 25 languages.

But what you will have to do is confirm your identity when you attempt to withdraw funds from your account. The process should be rather simple if of course, it is you who is withdrawing the funds and not someone else. Just don’t forget, that to make your first deposit, you will have to create an account that is verified with XM. The registration process for the creation of a verified account is described above.

XM forex broker services are available on Android as well as iOS users. These apps can run on Apple iPhones, Apple iPads, and all Android-supported mobile devices. The apps are regularly updated and provide an authentic login process to protect account privacy. XM mobile trading also helps clients in monitoring their trades remotely. The web-based version of MetaTrader platforms is also functional on mobile web browser apps and supports one-click XM trading. In addition, traders can trade either standard or micro lots, with all accounts offering quality execution.

Perhaps you’re after something more recent, or maybe something more general. Daily previews of the European open can be seen on The Market Preview where you can search for the right assets to watch and gain some insight from the experts. The research page of XM’s site is separate from the educational one. On the research page, you’ll find some interesting highlights and links to other subsections. Users of the MetaTrader5 can take advantage of the same leverage offer and enjoy the lack of requotes and rejections. Those looking to manage their trade history can do so on the MT 4 database which allows you to import and export.

Why is Choosing the Right Account Type Important?

You can know more about the CMC market review from our post. Setting aside its drawbacks, the XM group of brokers will remain a strong choice for beginners and expert traders in the years to come. It is always a good idea to check fresh reviews on Forex Peace Army to see if traders recently encountered any serious problems with scalping using XM trading platforms.

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