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XM Review
- 200+ Assets
- A+ Mobile App
- Fast Payouts
- Low Deposit
Editors Summary
XM seem to have the answers to all of your questions, perhaps even the ones you haven't thought of. They are considerate of new and experienced traders and work hard to cater to every trading need. They are licensed by CySEC, MiFID (EU regulators) and the FCA (UK Financial Conduct Authority). If you are looking for an informative, safe and technically advanced broker, then this is a wise choice.
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Introduction
XM Group is a trio of regulated online brokers. Trading Point of Financial Instruments Ltd was established in 2009, and it is regulated by the CySEC (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015, and it is regulated by the ASIC (ASIC 443670), and Trading Point of Financial Instruments UK Ltd was established in 2016, and it is regulated by the FCA (FCA 705428).
There are many benefits to using XM, whether you are new to trading or if you are a more established trader. The technology that they use is advanced, their trade features and payouts are excellent and they offer several bonuses to encourage new and experienced traders. As a company, they are highly visible with excellent customer support.
While you may have your doubts over which broker you should be using, we are here to guide you. Our comprehensive review of XM, along with all of our other reviews, are designed to give you enough detail for you to make an informed decision. The facts are all there; it is down to you to decide whether this is the broker for you.
Account Types
There are four CFD trading account types available with XM. While there are many similarities between each account, there are some noticeable differences.
Micro Account
The Micro Account requires a minimum deposit of $5 deposit to open but attracts a welcome bonus of up to 50% for the first $1,000 deposited. There are seven base asset options, 1 lot is 1,000, and the leverage ranges from 1:100 to 1:500. The spreads on majors are as low as 1 pip.
Standard Account
With a Standard Account, you get everything you would with a Micro Account, but the significant difference is the contract size. Instead of 1 lot being 1,000 it is 100,000, and the lot restriction is 50 instead of 100.
Zero Account
The Zero Account offers a lower spread on the majors; it requires a deposit of $100 and commission is available on client referrals.
Ultra Low Account
Finally, the Ultra-Low account allows you to trade with either micro or standard lots, it includes lower spreads starting from 0.6 pips, and it has a minimum initial deposit of just $50.
Demo Account
A free demo account is available to everyone who signs up to the website; however, it doesn't require a deposit to enable access.
Trade Features And Payouts
XM offers several trading features as you would expect. They are very competitive and in some cases, ahead of the competition.
Leverage
To increase your investment and help you to achieve higher capital, most CFD brokers offer you the option to leverage your money. XM offer a leverage opportunity of 1:30; this is the maximum you can achieve. This leverage applies to all EU regulated entities of the group. Other entities offer increase leverage. Leverage also depends on the financial instrument traded and on your country of residence.
Spreads
The spreads on offer depend on the type of account that you have. With the Micro and Standard Accounts, the spreads are as low as 1 pip. If you have a Zero Account, then spreads as little as 0 pips are available.
Stop Loss
The great thing about Stop Loss is that it enables you to automatically stop your trade when it gets to the desired point. You don't have to be online. You just set the position that you want the trade to stop at, and the platform will do the rest for you. This is a feature offered by many brokers including XM.
Platform Types
XM boasts a massive 16 trading platforms. This is because they offer traders both MT4 and MT5 platforms across a multitude of operating systems and devices. With more than 1000 instruments which can be traded on these platforms, including Forex, Stocks CFDs, Commodities CFDs, Equity Indices CFDs and Crypto CFDs, you'll not be limited on choice. You can choose to use either software across Web, Windows, Mac, Android or iOS.
Bonuses And Promotions
Now while many brokers offer both Forex and CFDs, not all of them provide a CFD bonus to new traders. XM offers not only a welcome bonus but a $30 no deposit bonus. They clearly state that it is non-withdrawable so you are required to trade with it however the profits are withdrawable. This is good news for new traders as it means is that you can open an account and try before you buy.
In addition to the no deposit bonus, there is also a two-tier deposit bonus system. For those depositing up to $1,000 you can get 50% bonus with a further 20% being available up to a maximum of $5,000. This is a tidy sum for those who are looking to invest more. The bonus is instantly credited and is available on a minimum deposit of just $5.
* Note - Bonuses are not eligible for clients registered under Trading Point of Financial Instruments Ltd and Trading Point of Financial Instruments UK Ltd.
Mobile Trading
With so many options for living life online, there is no longer a requirement to be in one place glued to a laptop or desktop. With a range of portable devices, that can do so much; there is much more opportunity to live life on the move. This extends to mobile CFD trading.
You will struggle to find a better mobile trading experience than you will get on the XM trading platform or should we say platforms? Because of their extensive options to choose MT4 or MT5 for a variety of devices, there is much to choose. You can use MT4 or MT5 for iPhone or iPad. Then there are the Android versions and the Mac versions. The mobile trading opportunity is so excellent that all you need is the right device and an internet connection.
XM seem to have the answers to all of your trading questions.
Deposits And Withdrawals
If you are looking to make a deposit it couldn't be easier. There is a whole page dedicated to account funding with separate tabs for deposits and withdrawals. On the account funding page, you will see the many funding methods available and the base currencies accepted along with the minimum deposit required and any fees. Multiple local payment methods give you instant access to your trading funds, but some may take up to 24 hours to clear, like wire transfer.
Concerning withdrawals you will find a separate tab which gives you all the same information as you will find on the deposit tab. It clearly shows you any fees and how long it will take your transaction to be processed. You won't often see so much detailed information on broker sites.
Special Features
The amount of detail and clarity on their website has to be a strong contender as a unique feature along with many other benefits that set them apart from some CFD brokers:
- The Research & Education section offers you the chance to keep updated on the significant news, critical market events and a mass of education knowledge
- A loyalty bonus which awards you points for every trade that converts to credit bonuses
- XM offer a commission for those who refer clients with commission available for every client that places trades
- Personal account managers available in many languages to assist with your every demand
Customer Support
XM pride themselves on being a "human" company. While everything is carried out online, they like to have a visible presence. They offer personal account managers in many different languages, and their customer support is accessible via several avenues. There is a live chat option as well as telephone numbers and e-mail contacts.
Like the rest of their website, the "contact" page is exceptionally detailed with a list of contact options for the many countries that XM operate in. The support desk is open 24 hours a day, 5 days a week, in addition to being able to contact the support desk, there is also a number for the sales department.
We want to help our readers in any way we can, but sometimes it's better to talk directly with your investing site to get the answers you need. For example if you have a specific query about your account you'll need to contact them in person due to security.
Alternatively, if you find that contacting your investing partner isn't working, you can contact us and we will be more than happy to try on your behalf. We have excellent working relationships with many of the sites we list and recommend.
XM
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Email:
[email protected]
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Phone:
+357 2502 9933
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Address:
Citypoint Building, 1 Ropemaker Street, EC2Y 9HT, London, UK
Conclusion
XM seem to have the answers to all of your questions, perhaps even the ones you haven't thought of. The detailed information featured on their website is of a very high standard, and they seem to have all bases covered. They are considerate of new and experienced traders and work hard to cater to every trading need. There is lots of information available about the CFD markets and any major news or events.
The platform itself has been carefully thought out, and you can expect an excellent all-round trading experience. They are licensed by CySEC (Cyprus Securities and Exchange Commission), ASIC (Australian Securities and Investments Commission) and the FCA (UK Financial Conduct Authority). If you are looking for an informative, safe and technically advanced broker then this is a wise choice.
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Frequently Asked Questions
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Is XM legit, will they scam me?
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Established in 2009 and now with 1,000,000 members in 196 countries, XM have an excellent reputation in the CFD industry. With several licenses including CySEC, ASIC and FCA, they are heavily regulated.
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Do they have a decent mobile or tablet app?
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Their mobile trading experience is designed for everyone, regardless of which device they are using to trade. They have many different platforms available.
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What bonus do they offer for new traders?
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There are several bonuses on offer from XM. These include both a no deposit bonus and a two-tier deposit bonus. There is also a loyalty reward programme.
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Can I start trading on a free demo account?
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Yes, with XM you can start trading on a free demo account. This account is perfect for those who are new to CFD trading and unsure as to how it all works.
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What's the min. deposit and ideal trade amount?
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Micro and Standard Accounts require a minimum deposit of just $5. For a Zero Account, it is $100. With a recommended trade amount of 1%.
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Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Shane’s contributions to the site have proven incredibly popular, and he’s been with us since 2014. Having a background as a Money Manager for five different brokers, three of them household names, it’s clear that Shane has the substance to back up the knowledge he shares.
