Investing > XM Review

XM Review

XM offers a variety of account options, platforms, educational and news content, and support. This review will help you figure out if XM is the right broker for you.

Reviewed by
Updated February 08, 2024

All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid., or “XM” for short, is an online forex broker giving traders access to a wide selection of assets through its platforms.

Founded in 2009, parent company XM Global Limited today offers traders a wide range of assets with almost 60 currency pairs and CFDs. Clients can also access five cryptocurrency CFDs covering Bitcoin, Dashn, Litecoin, Ethereum, and Ripple.

MetaTrader optimists will also enjoy the first full MetaTrader platform suite.

XM is a global broker that has amassed more than 2.5 million clients across 196 countries around the world. To date, the firm has executed over 1.4 billion trades with absolutely no (0) rejections or re-quotes. As a show of the firm’s commitment, the management team makes an effort to visit all the countries it provides for and so far, XM’s team has visited 120 cities out of the 196 mentioned – not bad.

XM is a highly regulated forex broker offering 4 account types with a low minimum deposit and no withdrawal fee. It offers over 1,000 instruments across 7 different asset classes, low spreads, and an informative and up-to-date education and news section. Traders of all experience levels will appreciate its platforms, flexible lots sizes and no hidden fees or commissions.

Fast Facts

  • Regulation: FCA (UK) ASIC (Australia), CySec, (Cyprus), BaFin
  • Account Minimum: $5
  • Demo Account: Yes
  • Asset Coverage: Forex, stocks, cryptocurrencies, commodities, precious metals, energies, and equity indices.
  • Best For: Beginners, Professionals, and those looking for low fees


  • Commissions & Fees: 7/10
  • Investment Selection: 7.5/10
  • Account Options & Features: 5/10
  • Usability: 6/10
  • Educational Resources: 6/10
  • Customer Service: 7/10
  • Overall: 6/10
Visit XM on XM’s website

Investor Warning: CCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.61% of retail investor accounts lose money when trading CFDs with XM. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Although XM is only a baby firm in comparison to some others, it has quickly become an industry leader. Many Professionals seem to favor XM, with over 300 Professionals currently signed up with the firm – all holding years of financial experience, in their own right.

Beginners and all levels across the globe will appreciate XM’s customer support team available in over 30 languages. Such an array of languages has proved to be a good move towards attracting clients across so many jurisdictions. Not to mention, XM offers 16 full-feature trading platforms to take your pick from, depending on their trading style and experience.

XM’s Stock Market News section offers, you guessed it, a range of news on stocks. A separate page exists for Forex Preview with more news and insights on the forex market, including on the current economic impact of the coronavirus pandemic.

Is XM Regulated? 🛡

XM is considered safe and is highly regulated across several jurisdictions.

XM is a part of XM Group, a ‘group’ of regulated brokers online. In 2009, the Group was originally based in Cyprus and regulated by CySec under the trading name, Trading Point of Financial Instruments Ltd.

In 2015, the group widened its operations by establishing an entity in Sydney, Australia that was regulated by ASIC, and later that same year by the FCA in the UK under Trading Point of Financial Instruments UK Ltd.

In 2017, the firm expanded its operations again by establishing XM Global Limited in Belize and has since been regulated by the IFSC.

More About Legalities 📃

XM Global is registered to an address in Belize City, Belize, C.A. XM Global (CY) and has offices in Cyprus at an address of 36, Makariou & Agias Elenis, ‘Galaxias’ Building, 5th floor, Office 502, 1061, Nicosia, Cyprus.

It should be noted that in September 2019, The Brazilian Securities Commission (CVM) banned XM from offering Bitcoin (BTC) options and issued a public warning of irregular action through the Superintendent of Market and Intermediary Relations. The warning stated that XM was not authorized to either operate in Brazil or deal with Brazilian citizens.

The CVM called on XM to immediately suspend its investment offerings in the forex or derivatives space. To show it was serious, the CVM stated that it would fine XM 1,000 reals ($239) for every day the condition was not met.

This same year, it was also reported that Thailand’s securities regulator warned its citizens about possible scam entities in the forex market operating outside of the country.

XM’s case, in addition to the warning from Thailand’s securities regulator, shows the general fear that governments have of forex brokers offering cryptocurrency, mainly due to the lack of central authority in this space.

The expansive growth of cryptocurrencies over the past few years is primarily attributed to the fact they have become ubiquitous which has prompted more national and regional authorities to grapple with the regulation surrounding them. As a result, various jurisdictions are handling the quick-growth of the crypto-market differently and XM, unfortunately, got caught in the crosshairs of this.

In a survey, one of the most common actions of governments across jurisdictions is government-issued notices about the risks of investment in cryptocurrency. These are mainly designed to educate citizens about the difference between currencies issued and guaranteed by the state, and those which are not.

Furthermore, although XM is widely available, before you consider signing up, make sure to note that traders from certain countries will not be able to sign up with the broker. This includes the U.S, Israel, and the Islamic Republic of Iran.

To have a browse through XM’s legal documents yourself you can access them easily on its website. Here, you’ll find the broker’s terms and conditions, its bonus program, its loyalty program, among other things. Currently, the firm offers 12 documents for traders to read through which can all be easily downloaded as a PDF, allowing you to flick through on your phone during travel periods or downtime.

XM Compared

Average spread EUR/USD standard



All-in cost EUR/USD - active



Minimum initial deposit



Total currency pairs



Demo account?
Social / copy trading?
Average spread EUR/USD standard



All-in cost EUR/USD - active



Minimum initial deposit



Total currency pairs



Demo account?
Social / copy trading?

Average spread EUR/USD standard




All-in cost EUR/USD - active




Minimum initial deposit





Total currency pairs




Demo account?

Social / copy trading?

XM’s Pros and Cons 📝

This wouldn’t be a review without a pros and cons list. So, here it is. Firstly, XM stands out with its low CFD and withdrawal fees. The account opening process is quick and easy. Traders looking to test out the platform first or gain some experience can sign up to a demo and watch the company’s educational webinars.

On the downside, XM offers only a limited product portfolio of forex and cryptos for traders in Europe. While its forex fees aren’t too out of the ordinary, they could be more competitive to give it more of an advantage over other brokers, and the inactivity fee comes around quickly and sharply after just 90 days of no trading.


  • Low CFDs
  • Low withdrawal fees
  • Seamless account opening
  • Useful and advanced educational tools
  • Low CFD and no withdrawal fee


  • Europeans will have access to CFDs, forex and cryptos only
  • Forex fees are pretty standard
  • Inactivity fee

While XM’s client base is quite substantial, the firm continues to show its value for customers by adapting and progressing to meet the ever-changing needs of its customers. It does this by regularly keeping up to date on new industry trends and progressive technologies. The company works to improve customer performance which directly results in better executions speeds and tight spreads.

A real highlight for the company, as you might have already noticed, is that it strives to create a connection with clients and build a relationship on that. We see this through the management’s continued efforts to visit both its clients and partners in over 120 cities around the world.

XM has recognised the importance of listening to clients and meeting their needs, and although it might be an obvious one, it’s not easy to come by a company that prioritizes this.

For the learner, XM works to help educate and update traders no matter their experience. One way the company does this is by hosting seminars in the countries it visits. Its goal is to upskill traders to make better decisions and receive better returns. To date, XM has held hundreds of seminars, and has more lined up for the future.

The XM Foundation: A Humanitarian Initiative 🌟

In addition to the entities previously mentioned, XM runs the XM Foundation. This humanitarian foundation aims to create fair opportunities through humanitarian actions. XM’s mission is to make a clear and impactful difference to people’s lives by helping them to reach their potential. This foundation works to overcome barriers people may face as a result of race, religion, or culture.

The XM Foundation works to help people develop crucial skills and offers access to vocational skills by initiating projects. On top of this, it provides aid by working with active human aid foundations both locally and globally.

Recent news and initiatives from the foundation are available to view on the XM Foundation page. The company shows certain donations made to help the foundation reach its goals.

XM Account Types: 4 To Choose From 🗃

Okay, let’s get into some real detail now. Clients have the option to choose between four main account types: Standard, Micro, XM Ultra Low, and Shares Accounts. Each account type offers high-quality trading conditions and access to MT4.

XM Forex Accounts
XM offers four account types, with each type providing quality trading tools.

In addition, traders can trade either standard or micro lots, with all accounts offering quality execution. Keep an eye out for the completely free intraday market updates, as well as its real-time technical analysis. The multilingual customer support might also come in handy here, not to mention there are Personal Account Managers provided.

Standard & Micro Accounts 👤

The micro accounts can hold USD, EUR, GBP, CHF, AUD, JPY, PLN, RUB, HUF, SGD, or ZAR. This account charges no commission. Negative account protection is also given with this account as well as trading bonuses, and no deposit bonus, ideal for the beginner trader.

The option of an Islamic account is also available with a low minimum deposit of only $5. While clients will be allowed to hedge it is worth noting that in order to trade on MT4, clients must meet a minimum trade volume of 0.01 lots, or 0.1 lots on MT5. Clients can have a maximum of 200 positions open in one go, or pending together, and a restriction of 100 lots per ticket.

In essence, the main difference between the Standard Account is that 1 lot is 100,000. Here, a maximum of 50 lots per ticket applies, with a minimum trade volume of 0.01 lots. Apart from this, the Micro Accounts and Standard are hard to differentiate.

AM Ultra Low 📉

The XM Ultra Low Account offers USD, EUR, GBP, SGD, AUD or ZAD. This doesn’t charge a commission either, hedging is allowed, and you will have negative balance protection. But, you won’t enjoy any deposit bonuses or trading bonuses.

Here is everything broken down, respectively:

  • ☑️ Minimum deposit of $50. A maximum reach of 200 open positions at one time.
  • ☑️ XM Ultra Low Accounts can be either Micro Ultra or Standard Ultra.
  • ☑️ Standard Ultra accounts require a trade volume of 0.01 minimum and a minimum of 50 lots per ticket.
  • ☑️ Micro Ultra requires a minimum of 0.1 lots and 100 lots.

Other XM Accounts Available 📁

XM also provides the option of a Shares Account but this has a larger minimum deposit of $10,000. These are always Islamic and no trading bonuses, deposit bonuses or hedging will apply.

Here, there is a contract size of 1 share and a minimum trade volume of 1 lot. A maximum of 50 positions can be open or pending at the one time.

Let’s not forget, XM also offers to help create unique accounts to suit different traders needs and experience, which is an appreciated option by traders.

Islamic Accounts 💱

As you may know by now, most account types have an Islamic option. Islamic accounts do not have any rollover interest on overnight positions.

Anyone wishing to open an Islamic account can open a general account and then go to the Member’s Area to validate it. Once done, simply contact XM to switch it over. Bear in mind, XM has the right to revoke this status if they find it is being abused.

XM Swap-Free Islamic Account
Islamic customers have an option to open a special forex Islamic account.

In comparison to other forex brokers offering Islamic accounts, XM’s is superior. Why? Because while most other brokers charge higher spreads to this account, XM does not.

Furthermore, XM has remained true to what an Islamic account represents, it doesn’t use “swap-free in disguise” accounts. In some cases, brokers have been known to use this account, where an interest is transferred to a different fee. Because this is still a charge covering interest, it does not comply with ethical and fair trading.

Offering of Investments 📜

XM offers clients over 1,000 instruments across 7 asset classes, including individual stocks, forex, cryptocurrencies, commodities, precious metals and indices.

You can check out everything on the individual asset pages but for now, here’s a brief outline:

  • ☑️ 57 forex pairs including majors, minors and more exotic pairs.
  • ☑️ 1,210 stock CFDs spanning 17 countries, including the USA, UK, France, Germany, Spain, Netherlands, Italy, Greece, Portugal, Finland, Norway, Austria, Australia, Sweden, and Russia.
  •  ☑️ 8 different commodities through futures CFDs, 12 futures indices CFDs and 18 cash indices CFDs.
  • ☑️ 2 spot metals, gold, and silver
  • ☑️ 5 futures CFDs

Fees & Commissions 💰

Fees can go up or down depending on the account type you choose. The company’s fees are transparent and all can be viewed as per the asset class’s page. All fees vary by asset class and can include a maximum and minimum trade size and margin percentage. Everything is divided between the accounts, so the information per account is clear.

Spreads 💵

It’s important to be aware that XM uses variable spreads. This eliminates the requirement for an insurance premium that is necessary for fixed spreads as they are usually higher than variable spreads.

Most brokers restrict trading when news announcements are approaching which makes the insurance premium useless, anyway.

XM Spreads
XM offers variable spreads, eliminating the need for an insurance premium

Variable spreads on the other hand, helps XM avoid these hassles for traders and traders can trade away whether approaching a news announcement or not.

Fractional pip pricing is also available which allows traders to receive the best prices from XM’s liquidity providers.

Essentially, traders can add a 5th digit to a standard 4-digit price quote which allows clients to benefit from even the smaller price fluctuations. And of course, it ensures that the price is accurate in real-time, and that spreads are tighter.

😕 Do you find spreads confusing? This guide should help you to understand spreads in forex better.

Leverage & Margins 💼

In essence, XM clients can access a leverage of between 1:1 and 888:1. It really depends on your trade size, account type, and asset. Margin requirements remain unchanged at all times, including overnights and on weekends. Whenever you feel like it, you can ask XM either more or less leverage.

Be aware, higher leverage comes with higher risk. It also could potentially increase your profits but be sure to have a clear strategy in place before making any decisions. To try and help clients navigate real-time exposure to risk, XM allows you to monitor your margin.

XM also offers a Margin Call policy that prevents the maximum possible risk from reaching your account equity. If this goes below 50% of your required margin for open position, you will review a margin call warning, from XM. This lets you know that your account does not have sufficient equity to support your open positions. Phone traders might receive a margin call, instead. Your options here are either to make a deposit of funds or close your positions.

XM further protects your funds by having a stop-out level; the equity level that will automatically close your open positions. This is available for retail clients using Standard, Micro, or XM Ultra Low Accounts, all of which have a stop-out level of 20%.

🖊 Side note: Leveraging your forex trades might result in large profits. Learn how leverage in forex works and be smart about your trades.

Inactivity & Withdrawal fees 💸

XM offers standard non-trading fees. XM clients will not be charged any withdrawal fees, though any withdrawals less than $200 will be charged a carry fee of $15. In addition, there is no account fee.

An inactivity fee of $5 per month may be charged after 90 days of inactivity. This will continue to be charged each month until your balance hits $0. Once this happens your account will be archived.

Overnight Positions with XM ⏳

XM cannot be mentioned without highlighting its overnight positions. The company offers transparent and importantly, competitive swap rates. XM’s rollover policy states that it will debit or credit client accounts and look after rollover interest.

Who does this apply to? It applies to all positions held open from 22:00 GMT onwards. Do note though, rollovers are only available Monday to Friday because the market closes Saturday and Sunday.

Regardless, banks will charge interest on positions held over the weekend. To help combat this, XM enforces 3-day rollover strategies on Wednesday.

Placing an Order with XM 🖋

When ordering with XM you have the ability to place numerous order types, including stops, trailing stops, market orders, and limits. Trades can be placed throughout the day, as long as they are within trading hours. Trades can also be placed over the phone, if preferred.

Platforms & Tools 🖥

All XM clients can access the MetaTrader4 (MT4) or MetaTrader5 (MT5), both highly popular platforms in their own right. Both are also available on most devices, and clients can also trade using the XM WebTrader.

Regardless of the popularity and prominence of the MT4 and MT5, XM’s stands out. The company pioneered an MT4 platform that prioritized the quality of the trading executions. When trading on Mt4 with XM, you will enjoy access to a leverage of between 1:1 and 888:1, and be content in the knowledge that the company has had zero rejections or requotes to date.

MetaTrader 4 💻

XM’s MetaTrader 4 platform offers traders a full range of features, including over 1,000 instruments. The app is user-friendly, with a quick one-step login that gives access to 8 different platforms.

Expert Advisors and one-click trading are fully supported. Once logged users can choose from three chart types and utilize the technical analysis tools that offer a wide range of charting tools and over 50 indicators.

XM MT4 Metatrader
XM’s MetaTrader 4 was built with trading execution in mind

This platform offers spreads from only 0.6 pips along with the option of micro-lots. Hedging is allowed, and users will have the added benefit of VPS functionality.

On top of this, MT 4 offers help guides and Metaquotes Language 4. High volume traders will appreciate the platform’s ability to cope with a wide selection of orders, while it also lets you create your own personal indicators, and time periods.

Those looking to manage their trade history can do so on the MT 4 database which allows you to import and export. Not to mention, there is an internal mailing system and a full security and backup guarantee.

MetaTrader 4 is accessible through Apple, Android, Mac, PC, Tablet, and iPad.The platform offers a similar experience across all devices, and you can easily switch from one device to the other.

📝 Important note: Pips are a fundamental concept in forex trading, to fully understand how it all works, we recommend this easy to follow guide about pips.

MT4 Multiterminal 👥

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.

With this platform you will have a single password and login to reach all your accounts, and it supports up to 128 trading accounts, respectively.

Don’t worry, features will be almost identical to other MT 4 platforms. With XM’s MT 4 you’ll also get multiple order types, 3 allocation methods and real-time execution and management.

MetaTrader 5 👨‍💻

Apart from MT 4, traders can access XM’s MetaTrader 5, if they prefer. This platform offers additional offerings, with 1,000 more stock/shares CFDs. This makes is an quality multi-asset platform.

Users of the MetaTrader5 can take advantage of the same leverage offer and enjoy the lack of requotes and rejections.

XM MT5 webtrader
Traders will have access to all of XM’s MT4 features in addition to 300 stocks and CFDs

MT5 can be accessed through PC, Mac, iPad, iPhone, Android, and Tablet. Traders can hedge trades, use EA functionality, and trade with on-click. All order types are supported with spreads again starting from 0.6 pips.

MT 5 offers over 80 technical analysis tools and over 40 analytical tools. At any time you can view the latest, real-time price quotes.

Impressively, users can display up to 100 charts simultaneously. If that’s not enough, then you might appreciate the built in MQL5 development environment. Alerts, a multi-currency testers, and an internal mailing system all work to make the MT5 an enjoyable experience for traders.

XM’s Platform Usability 👨‍🏫

Alongside some useful educational resources, XM provides extensive, yet clear, information to help users navigate its Mt4 and MT5 platforms. Each page for each platform offers several easy-to-follow tutorial videos. The videos cover topics including, placing orders, Expert Advisors, using templates, terminal windows, among others. The MT4 platform has a massive 27 videos alone.

On this same page lies an FAQ’s list where users can find answers to all the basics including how to access your account. A separate FAQs is available for both the MT4 and MT5.

Let’s not forget though, these are not exactly unique platforms, and both the MT 4 and MT 5 are used by traders worldwide, meaning that there is endless streams of information available for these on the internet from professional sources.

XM’s List of Trading Tools 📄

XM clients will have the benefit of using a selection of trading tools offered by the firm. Some of these include; a Ribbon Indicator, River Indicator, Bollinger Bands Indicator, Ichimoku Indicator, and ADX and PSAR Indicator.

In order to start using these just get in touch with your Personal Account Manager and request to supplement these into the MT4 and MT5 for the existing ones.

The standard economic calendar and forex calculators are available, and, live account holders might enjoy XM’s free forex signals in the Member Area. Lastly, users can also access MQL5 Trading Signals.

Trader Research & Education 📚

Beginners and those looking to update or improve their trading and investing knowledge will appreciate XM’s complete Research and Education Center. Here, traders can find daily updates on the biggest trading sessions and daily briefings on key market events.

Interestingly, and as a show of the company’s commitment towards educating its clients, 20 market professionals are on standby to ensure the information is continuously updated in all available languages.

Research 🔍

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.

This page offers a clear view of the most popular assets, along with their prices and spreads, on the right of the homepage, in addition to a calendar of all the upcoming webinars.

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 Special Reports 📢

Although this page isn’t updated as often it is packed with more detailed and in-depth articles. While the Stock Market news is updated daily, if not several times a day, in contrast, this one has fallen behind a bit with updates only several times a month.

Analysis Videos 📽

Traders who enjoy watching videos can take a look at XM’s range of Analysis Videos with everything from Daily Technical Analysis, Daily Forex News, and Weekly Forex Outlook. Each video features industry experts sharing their relevant and valuable knowledge with us mere mortals.

In the Daily Forex news video you’ll find both news updates and analysis, the Weekly Forex Outlook discusses the major events over the past week and explores their impact on major currencies, while the Daily Technical Analysis charts all things forex, as well as including some technical indicators.

Webinars 🌐

Similarly to most brokers, XM creates and holds regular webinars and seminars to help traders improve and learn new skills. As well as following upcoming seminars users can look over some of the hundreds of previous seminars that have already taken place in various cities across the globe.

Unlike some other brokers, XM stays on top of its webinars which are available any day of the week from almost 40 webinar instructors in 19 languages. Users can just click on their preferred language before hitting play.

There’s also some education rooms that we’ll discuss soon that hold daily webinars in English. All other languages can be easily found on the site with whatever topic takes your fancy. To help you choose, just check the title, date, description and time it was posted. Perhaps you’re after something more recent, or maybe something more general. Whatever the case, you can sign up on the spot.

More XM Education: Education Rooms 📖

As briefly mentioned, XM has Education Rooms, 3 in fact and each is unique. Each room has a live interactive training on Saturdays and Sundays and covers all topics and offers advice and guidance in real-time.

Each room has its own particular syllabus that aims to improve your skills. The best news is that the Primary Education Room is open to everyone, whether you are an XM trader or not. In here you’ll gain access to information on basic concepts, the fundamentals, trading, and opening accounts, to name a few.

The Intermediate Education Room is only accessible to XM traders, and here you’ll develop more strategies and critical thinking skills. You’ll also pick up some useful information on how to utilize analysis tools, like the Avramis Ribbon and the Bollinger Bands.

Lastly, the Advanced Education Room can be accessed by anyone with a funded XM Account. This means that you will need to have deposited $500 USD or more over the past 3 months.

This room will let you experience the real trading environment in a simulated version. Anyone who takes the time to visit this room will hone their charting techniques, time frame techniques, indicators, and more.

Outside of this, XM offers educational videos that are broken up into beginner, intermediate and advanced levels. To watch this you’ll just need an XM account and you’re away.

Overall, there are a total of 6 videos with topics covering an introduction to financial markets and trading essentials, technical and fundamental analysis, trading psychology, money management, and trading strategies.

Customer Support ☎

XM’s customer support team can be accessed over the phone and through live chat. For a more personal meeting, the company’s registered address is No.5 Cork Street, Belize City, Belize, C.A, or alternatively, you can pop over an email. The phone support and live chat is open 24 hours 5 days a week.

As with everything else, XM provides customer support in over 25 languages. This ensures that almost everyone can get the support they need in their preferred language.

Complaints can be directed towards the Client Relations Manager or the Customer Care Company. In the majority of cases, customer complaints are quickly and easily resolved in one of these ways. Any more difficult or unresolved cases should be directed towards the Compliance Department of the firm.

This office oversees all unresolved complaints and acts as a judge to come to a necessary decision. It also takes the action needed in accordance with the company’s Complaints Handling Procedures. If you ever should need it, the Complaints Form is easily found in the Members Area.

XM’s Reputation: Awards & Accolades 🏆

Overall, XM is highly received by third parties and it has earned numerous awards across the board. XM boasts these awards on their site as follows:

  •  ☑️ Forex Service Award, Awarded by the City of London Wealth Management Awards 2019.
  • ☑️ UK Forex Awards 2018, Named Best Forex Customer Service by Shares Magazine in the Capital Finance
  • ☑️ International Magazine ( chose XM as the Best Market Research & Education, as well as Best Trading Support in 2017.

Conclusion 🏁

XM is a global broker offering customers access to over 1,000 instruments across 7 asset classes. XM focuses on building a strong customer relationship and continuing to meet customers changing needs. What’s more, the company to date has no rejections or requotes of orders.

Users can choose from 4 account types, in addition to having the option to create a custom account. To open an account with XM you’ll need to deposit just $5, but before you sign up, you can create a demo account free of charge.

As the broker is worldwide, your signup option will depend on where you are and may include a bonus offer such as a 100% bonus matching your deposit as high as $5,000.

XM’s educational and news offering will suit all levels and can be taken in in a variety of ways from videos and articles to webinars, this selection is top quality and potentially the best in its area of expertise.

MetaTrade 4 and MetaTrader5 are supported by XM, but a proprietary platform is not available.

Overall, XM is safe, regulated and highly respected in the industry with a good complaints procedure so at the least you know your money will be safe with this broker.

XM Review: FAQs

  • Is XM a Legit Broker?

    It is – XM is a trusted, legitimate brokerage that is highly regulated in all the jurisdictions that it does business in. The company’s inner workings are scrutinized and overlooked by a variety of financial regulatory bodies, including CySec in Cyprus, ASIC in Australia, the FCA in the UK, and the IFSC for the broker’s international business.

  • How Long Does it Take to Withdraw from XM Broker?

    All withdrawal requests are processed within 24 hours on business days. Withdrawals can only be sent back to the original source of deposit.

    Depending on the method of withdrawal, the actual time it will take for your money to reach you will vary. Payments made via e-wallet are completed within a day, while payments by bank wire or credit/debit cards usually take 2 – 5 business days to complete.

    Another element that factors into how long it will take for your funds to reach you is the country that your money is being sent to. Bank wire transfers to EU countries usually take 3 working days to complete, but in the case of some countries it might take up to 5 business days for your funds to show up in your bank account.

  • How do I Withdraw from XM Broker?

    After logging in to XM’s website, select Withdrawal in the menu, and then select your preferred withdrawal method. Once you’ve done that, choose how much money you’d like to withdraw, tick the box that states that you’ve read and agreed to XM’s withdrawal policy procedure, and click on the Request button. 

  • How Much Can You Withdraw from XM?

    The minimum withdrawal amount with XM is $5 for credit cards, debit cards, and electronic payment, and $200 for bank wires. The maximum amount of money that you can withdraw varies by country and method – although as a general rule, wire transfers allow you to withdraw greater sums.

  • Where is XM Broker Located?

    XM is located in Limassol, Cyprus. To be more precise, the broker is located on the third floor of 12 Richard & Verengaria Street at Araouzos Castle Court.

  • Can You Withdraw an XM Bonus?

    No, you cannot withdraw XM bonus – but you can withdraw any profits that have been made by utilizing this bonus. In the case of XM’s $30 no deposit bonus, there is another requirement – a trading volume of at least 10 micro lots or 0,1 standard lot in the relevant real trading account, as well as at least 5 completed round turn trades. You can read the terms and conditions of XM’s no deposit bonus here.

  • Does XM Allow Scalping?

    Yes – XM does allow scalping.

  • How Long Does it Take to Validate an XM Account?

    Validating an XM account can take as little as 20 minutes, but in some cases it might take up to 24 hours for the process to be completed.

  • Is XM an ECN Broker?

    No, XM is a market maker broker. However, clients from the US and the UK can take advantage of XM Zero, an ECN-like account type.

  • How Does XM’s Bonus Work?

    XM offers varying bonuses depending on the customer’s country. Apart from the $30 no deposit bonus, XM also gives clients a bonus proportional to the size of their initial deposit.

    XM bonus allows traders to open larger positions – however, the deposit itself cannot be withdrawn – only the profits generated by the bonus can. Once you decide to withdraw funds from XM, a certain amount of bonus will also be subtracted from your account. You can find out more about XM bonus by taking a look at the terms and conditions.

  • How Do I Put Money in my XM Account?

    To deposit money into your XM account, simply log in to their website and make your way to the members’ area. Then, select the Deposit option, and pick your preferred method and follow the instructions. XM supports a wide variety of deposit options, including credit/debit card transfers, electronic payment, and wire transfers.

XM and the Competition

See how XM compares to the leading Forex brokers by reading one of the reviews below.

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