One of the more popular brands in the industry, XM Group is an online brokerage firm providing traders access to over a thousand financial instruments covering forex, commodities, equity indices, precious metals, shares, energies, and stock CFDs.
XM Group is a multi-regulated and multi-awarded firm, offering the industry popular MetaTrader platforms and market-leading promotions.
In this review, we will take a closer look at XM’s trading services, features, and advantages to help you decide whether to choose this broker or not.
XM Background & Safety
XM Group was founded in 2009 and since then has become a global brand, being a certified industry leader with over 3.5 million traders across 196 countries. Currently, XM consists of more than 450 professionals with long-term financial industry expertise. Combined with the help of well over 30 languages, the firm’s vast experience makes it the broker of choice for traders of all levels, everywhere.
XM’s trademark service is its unparalleled trading environment. By pioneering a strict no re-quotes and no rejections policy, the broker offers a fair and confident trading experience. In addition, with no re-quotes and no rejections, 99.35 percent of all trading orders are executed in less than one second.
Trading with XM is a sure bet as it is a multi-regulated broker, duly authorized and regulated by the different regulating bodies in its jurisdictions. It is affiliated with the International Financial Services Commission in Belize, the Australian Securities and Investments Commission, and the Cyprus Securities and Exchange Commission. More so, Negative Balance Insurance benefits all customers, so they are never at risk of losing more than the balance of their account.
Lastly, XM is also an award-winning broker, championing trading services by offering top-tier trading conditions, promotions, and tools. It has over 35 accolades and recognitions from various international financial institutions and publications.
XM Features & Fees
XM offers a wide array of financial instruments including forex (55+ currency pairs – majors, crosses, and exotics), stock CFDs, commodities, equity indices, precious metals (gold & silver), energies, and shares. Across 6 asset classes, XM provides over 1000 instruments to choose from.
XM features exceptional trading account conditions – with the same execution quality for all its four offered account types.
Deposit a $5 minimum initial funding to open Micro Account that provides traders with spreads from 1.0 pips, zero commissions, use of hedging strategy, minimum trade volume of 0.01/0.1 lots, maximum trade size of 100 lots, and up to 1:888 leverage.
A low $5 minimum deposit is also required to secure Standard Account to access a favorable set of trading conditions including zero commissions, use of hedging strategy, minimum trade volume of 0.1 lots, maximum trade size of 50 lots, 1 pips spread, and up to 1:888 leverage.
Deposit a minimum of $50 to open XM Ultra Low Account and get to trade with zero commissions, use the hedging strategy, trade with a minimum volume of 0.01/0.1 lots, spreads from 0.6 pips, and leverage of up to 1:888.
If you choose to be different, Shares Account might be a good fit for you. Having a minimum initial deposit of $10,000, users are dealing with 1 share contract size, no leverage, varying spreads, commission fees, minimum trade volume of 1 lots, and no hedging.
These account types are all convertible to an Islamic (swap-free) account version as well as a personal account manager.
A variety of convenient and cheap funding methods are facilitated by XM. The broker has 11 account base currencies, one of the largest in the industry, saving its clients from conversion fees.
The broker accepts deposits and withdrawals via bank transfers, credit/debit cards, and online payment systems. XM has no deposit and withdrawal fees except for bank transfer withdrawal which incurs $15.
XM offers $30 Trading Bonus, 50 percent deposit bonus, Ber Months Promotion, Exclusive Webinar, Refer a Buddy, XM Loyalty Program, and free VPS Services.
XM Trading Platforms & Tools
Offering 16 versions of the MetaTrader trading platforms, XM is an exclusive MetaTrader broker. MetaTrader 4 and MetaTrader 5 are available across devices including PC, Mac, tablet, iPhone, iPad, and Android. A MultiTerminal version is also available for both platforms.
Albeit parading a fully-customizable platform, XM’s platform interface looks a bit outdated and some of its features are not instantly found. As for its mobile version, MT4 supports several languages, has a user-friendly design, and readily available set of features.
XM provides a competitive trading environment as it is multi-regulated, has Negative Balance Protection benefit, and offers advantageous trading conditions.
It would be nice, though, for XM to develop its proprietary platform to offer a fresh of breath air to professional traders who are into advanced trading solutions.