Pros
  • Regulated by top entities including CySEC and ASICS
  • Over 1000 Instruments
  • No commission charged on funding
  • Easy and fast account opening
Cons
  • $5 inactivity fee after 3 months
  • PayPal deposits are not supported

Established in 2009

Location: Cyprus

Operated by  Trading Point of Financial Instruments Ltd 

Regulation: The XM Group is licensed by ASIC in Australia (Trading Point of Financial Instruments Pty Limited) and by CySEC in Cyprus (Trading Point of Financial Instruments Ltd), adhering to enhanced regulatory standards.

Note: previously known as TradingPoint and MegaTraderFX

USA traders: not accepted

Latest awards:

Best FX Broker, Middle East. Awarded the Best FX Broker, Middle East award by World Finance Forex Awards 2023

Best FX Broker, Latin America. Awarded the Best FX Broker, Latin America award by World Finance Forex Awards 2023

Best FX Broker, Australasia. Awarded the Best FX Broker, Australasia award by World Finance Forex Awards 2023

Best FX Customer Service. Awarded the Best FX Customer Service award by World Finance Forex Awards 2023

Best FX Broker, Europe. Awarded the Best FX Broker, Europe award by World Finance Forex Awards 2023

Best Customer Support, Global 2023 Awarded by CFI.co 2023

Best CFD Provider Awarded by City of London Wealth Management Awards 2023

XM has been acknowledged as the Best FX broker for the year 2022 at the World Finance Forex Awards for an unprecedented sixth year in a row!

The Best Crypto CFDs Awarded by Financial Expo Egypt 2022

Best FX Service Provider Awarded by City of London Wealth Management Awards 2022

Best FX Educational Broker in the MENA region Awarded by Dubai Expo Awards 2021

Best Trading Experience Awarded by Ultimate Fintech 2021

Best FX Service Provider for 2020 Awarded by City of Wealth Management Awards 2020, Best FX Service Provider

Trade over 1000 Instruments – Forex, CFDs on Stock Indices, Commodities, Stocks, Metals and Energies.

Get More than a Forex and CFD Trading Account at XM

  • Personal Account Managers
  • Unlimited Access to Video Tutorials
  • Free Daily Technical Analysis
  • Free Access to Forex Market Research
  • Daily Access to Forex Trading Signals
  • Daily Forex Market Outloo
  • Free Access to Daily Forex Webinars
  • 16 Platforms to Choose From. Any Device, Anywhere
  • 24/5 Hour Live Help

Account Types and Trading Conditions

Currency pairs: 55

Trading platforms: Metatrader 4, Metatrader 5, XM Webtrader

Cryptocurrency trading: not available

Variable spread start from 0.1 pips plus $3.5 commission per standard lot traded (XM Zero Account)

Islamic swap free accounts: available upon request

Special features: ultrafast execution 99.35% of all trades executed in less than 1 second

XM Group offers its clients 4 types of account: MICRO, STANDARD, ZERO and ULTRA LOW with low spreads. The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5. The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5. The XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $100. XM ZERO account has a $3.5 commission per $100,000 traded. Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has minimum initial deposit of $50. *XM Ultra Low account is not applicable to all entities of the Group.

XM Review: Platform, Social Trading and Spreads 

Metatrader 4 - XM

Trading platforms: MT4, MT5, XM WebTrader 

Built-in technical indicators: yes

Expert advisors: allowed

Extensive back-testing options: yes

Advanced charting tools: yes

Account types: micro, standard, zero

Virtual private server VPS hosting: free for deposits of minimum $5,000

Demo account: available

Maximum leverage is up to 1:888

Spread types: variable

Average spread starts from 1.7 pips

Trading and Investment Tools

  • One Click Trading: Yes
  • Trade off Charts: Yes
  • Email Alerts: Yes
  • Mobile Alerts: Yes
  • Stop Order: Yes
  • Market Order: Yes
  • Trailing Stop Order: Yes
  • OCO Orders: No
  • Limit Order: Yes
  • 24hr Trading: Yes
  • Charting Package: No
  • Streaming News Feed: Yes

XM Review: Payment Methods

Minimum deposit requirement: $5

Payment methods: credit cards, wire transfer, Skrill, Neteller, Webmoney, paysafe, ideal, sofort, qiwi, Cashu, giropay, przelewy24, Western Union

ZERO FEES ON DEPOSITS & WITHDRAWALS  

  • All e-wallets 100% covered
  • All major credit cards 100% covered
  • Wire transfers above 200 USD covered
  • Instant account funding
  • No hidden fees or commissions

Learning Material and Latest Promotions

Bonus and promotions

100% Bonus  UP TO $5,000 or currency equivalent 

  • Bonus is instant and automatic
  • Trade to maximize your bonus amount
  • Limited time offer
  • Executive level entry to the XM Loyalty Program

XM LOYALTY PROGRAM

With so many rewards and incentives already, you might think that XM could not be any more generous, but you would be wrong. In addition to all other bonuses and rewards, a few times a year XM will offer special seasonal bonuses marking certain calendar events and occasions that will be available for very limited periods of time. In addition to this we will also offer highly exclusive bonuses that will be made available on an invitation only basis.

FREE VPS SERVICES Make the most of your trades 

  • Eliminate downtime
  • Ideal for EAs
  • Increase the speed of your trades
  • Accessible from anywhere
  • Online 24/7

Educational materials: seminars, webinars, unlimited access to video tutorials, market reviews, trading signals, daily technical analysis

Customer support: email, phone, online chat, personal account manager

Questions Answers about XM

How long does it take to open a trading account with XM?

In case you fill out all details correctly, it takes less than 5 minutes.

What trading account types does XM have?

We offer the following trading account types:

MICRO: 1 micro lot is 1,000 units of the base currency
STANDARD: 1 standard lot is 100,000 units of the base currency
ZERO: 1 standard lot is 100,000 units of the base currency

What is the minimum deposit/withdrawal for a trading account?

It is $5 for MICRO and STANDARD accounts, while for ZERO accounts it is $100.

How long can I use a demo account?

At XM demo accounts do not have an expiry date, and so you can use them as long as you want. Demo accounts that have been inactive for longer than 90 days from the last login will be closed. However, you can open a new demo account at any time. Please note that maximum 5 active demo accounts are allowed.

What spreads does XM offer?

We offer variable spreads that can be as low as 0 pip. We have no re-quoting: our clients are given directly the market price that our system receives. 

What leverage does XM have?

XM provides leverages between 1:1 – 888:1. This Leverage applies to clients registered under XM Global Ltd. Leverage depends on the financial instrument traded.

Does XM allow hedging?

Yes, XM broker allows hedging. You are free to hedge your positions on your trading account. Hedging takes place when you open a LONG and a SHORT position on the same instrument simultaneously. 

In which currencies can I deposit money into my trading account?

You can deposit money in any currency and it will be automatically converted into the base currency of your account, by XM prevailing inter-bank price.

What is the minimum and maximum amount that I can deposit/withdraw?

The minimum deposit/withdrawal amount is 5 USD (or equivalent denomination) for multiple payment methods supported in all countries. However, the amount varies according to the payment method you choose and your trading account validation status. You can read more details about the deposit and withdrawal process in the Members Area.

Is there an official European/international regulatory agency where XM company is listed?

Licensed and regulated by CySEC (Cyprus Securities and Exchange Commission) under license number 120/10;

  • Governed by MiFID (Markets in Financial Instruments Directive);
  • Operation according to the Cypriot Investment Services and Activities and regulated Markets Law of 2007 (Law 144(I)/2007);
  • Regulated by the Australian Securities and Investments Commission (ASIC 443670) and the International Financial Services Commission (IFSC/60/354/TS/19) 

Which are the supported features of XM?

Trading on FOREX, PRECIOUS METALS (including GOLD, SILVER), ENERGIES (including CRUDE OIL), and EQUITY INDICES is provided

  • with a MINIMUM DEPOSIT as low as USD 5
  • with the option to OPEN MORE THAN 1 ACCOUNT
  • with NEGATIVE BALANCE protection
  • NO RE-QUOTES, NO REJECTION OF ORDERS
  • TIGHT SPREADS as low as 0 PIP
  • FRACTIONAL PIP PRICING
  • MULTIPLE TRADING PLATFORMS accessible from 1 account for speedy trading mobility
  • REAL-TIME MARKET EXECUTION: 99.35 of orders executed in less than 1 sec.
  • ACCOUNT FUNDING 100% automatic and instantly processed 24/7
  • FAST WITHDRAWALS with NO EXTRA FEES
  • ALL TRANSFER FEES COVERED BY XM
  • FREE, UNLIMITED DEMO ACCOUNTS with USD 100,000 virtual funds and full access to MULTIPLE TRADING PLATFORMS
  • Professional TRADING SIGNALS twice a day

How was the rating of XM performed compared to other brokers? 

This 2024 Forex Broker Review  has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on XM FX broker performance and features. 

Overall our online XM review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online XM or you find inaccurate details XM broker review please get in touch with us and the changes will be applied. 

XM Details

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