XM

 

– NDD/STP broker from Europe specialized in Forex and CFD

-Regulated by organizations such as CySEC

-Low commissions and Zero spreads trading accounts

XM – Broker Review

XM is a regulated Forex and CFD Broker from Europe which allows its clients to trade with currency pairs (Forex), commodities like gold and silver and Contract For Difference based on different kinds of assets and instruments through the trading platform Metatrader 4. Also, it offers various solutions for Forex automated trading, regular promotions for its clients, Forex signals, research and educational services and many more.

Type of broker

XM is an STP/NDD Forex and CFD broker.

Regulation

XM is properly registered and regulated by CySEC (License Number 120/10) of Cyprus, the FCA (Financial Conduct Authority of the UK, Registration Number 538324) and ASIC (Australian Securities & Investments Commission, license number 443760).

Country of origin

The headquarters of XM is located in Cyprus.


Trading Instruments

This Forex broker offers the following instruments to trade in the market:
  • Forex market: 53 currency pairs in the spot market, from the most important such as the EUR/USD, USD/JPY and GBP/USD to other more exotic like the USD/ZAR and USD/CNH.
  • Precious Metals: Gold and silver in the spot market, two of the most traded and important commodities in the market.
  • Contracts For Difference based on the following instruments:
    • Futures on energies like crude oil, natural gas, and heating oil among others.
    • The main stock indices in the market.
    • Precious metals like gold and silver.
    • Cryptocurrencies such as Bitcoin and Ripple.

Trading Accounts​

XM offers three types of trading accounts with features for traders with different profiles. These accounts have the following characteristics:
  • Micro Account: This is a trading account designed for beginners traders with little experience in the market. For this reason, it requires a minimum deposit of just $5. It offers maximum leverage of 1:888, a minimum transaction size of 0.001 lots and variable spreads as low as 1 pip for major currency pairs. This account allows hedging strategies and charges no commissions or hidden fees. XM offers an Islamic version of this account.
  • Standard Account: This is a type of trading account created for professional traders with more experience in the market and with more capital to invest. Despite this, the Standard Account requires a minimum deposit of just $5. It offers maximum leverage of 1:888, a minimum transaction size of 0.01 lots and variable spreads as low as 1 pip for major currency pairs. This account allows hedging strategies and charges no commissions or hidden fees for client´s trades. XM offers an Islamic version of this account.
  • Ultra Low Account: It is an account designed for professional traders who want to trade with fast executions and extremely low spreads, which requires a minimum deposit of $100. It offers variable leverage of 1:1 to 1:500 and a minimum transaction size of 0.01 lots. Concerning spreads, this account offers variable and low spreads from 0.0 pips for major currency pairs such as EUR/USD. Ultra Low accounts charge a commission of USD 5 for each lot traded by the trader and allow hedging strategies (coverage). There is also an Islamic Account version for the Zero Account.
  • Shares Account: It is a specialized trading account for investors interested in trading with shares of the main stock markets. Through this account, XM customers can trade with more than 100 individual shares in the United States, Germany and the United Kingdom, including the shares of the most important companies listed on these markets. The minimum deposit to open an account of this type is $10,000. It does not offer any leverage, hence the minimum deposit so high compared to other accounts, which means that in all transactions 100% of the trading margin comes from the capital of the trading account.

Demo Accounts

XM offers a demo account with no limit of time.
In the following guide, we explain how to open a demo account with this broker: XM demo account tutorial

Trading Platforms

This broker has a trading platform called XM MT4 which is based on Metatrader 4, one of the best downloadable applications of this type in the Forex market sector. The main features of Metatrader 4 are the following:
  • It has a multilanguage program interface.
  • Its interface is very user-friendly.
  • Metatrader 4 includes a complete package of technical analysis tools which include advanced charts and more than 50 in-built indicators.
  • Different types of executions and orders which allow the implementation of different trading strategies.
  • This platform allows the creation, evaluation (through a backtesting module) an implementation of automated trading systems called Expert Advisors.
  • It includes an internal mailing system and online news.
  • History database management and real-time data import/export facility.
  • This application allows creating custom indicators.

-XM Webtrader: XM also offers a web-based trading platform called XM Webtrader which is based on Metatrader too. This application allows accessing the account and trade in the market from any place with an Internet connection. It also includes multiple trading tools such as price charts with different time frames, built-in technical indicators, real-time quotes, market news and various types of orders to trade on the market.

-XM Multiterminal MT4: A platform that is based on Metatrader 4, which is designed for professional traders who are interested in trading with currency pairs (Forex), CFD and Futures through multiple trading accounts and a single interface and platform. This application offers multiple order types and allows managing over 100 accounts simultaneously.

-XM MAM Trader: For fund managers, portfolio managers and multiple account holders, XM offers an application designed to manage multiple trading accounts called XM MAM Trader which is based on Metatrader 4. This platform has many of the features of Metatrader 4 as advanced price charts, automated trading, and Expert Advisors. This application allows managing multiple MT4 trading accounts with a single interface. It is an application that allows the simple and efficient management of multiple accounts of Metatrader through a simple interface, making it ideal for professionals who manage accounts and funds of a lot of investors.

-Now, this broker offers the following applications based on Metatrader which are designed to access the account and trade in the market with different mobile devices:

  • XM Droid Trader: It is a platform designed for Android-powered Smartphones and tablets.
  • XM iPhone Trader: This application is designed specifically for Apple iPhone smartphones.
  • XM iPAD Trader: It is a special application designed for Apple iPad devices.
  • XM Mobile Trader: This platform is designed for pocket PCs (PDAs) and different smartphones.
Metatrader 4 of XM

Metatrader 4 platform of XM


Payment Options

The client can deposit and withdrawal funds through Bank Wire Transfer, Credit Cards (the most important like VISA and Mastercard), Skrill, Neteller, CashU, Webmoney, Western Union, and Moneygram.

Main Advantages of XM

  • XM is a European broker that is properly regulated by the major financial regulatory agencies like the FCA of UK and Cyprus of CySEC.
  • As an NDD broker, it offers variable and very low spreads. Also, XM accepts all trading strategies, including those based on hedging (these strategies are based on the opening of the same instrument at the same time).
  • It offers bonuses for new and regular clients that make deposits in their trading accounts.
  • This company has a good customer service that works 24 hours a day, which offers the following methods of contact: e-mail, telephone and live chat on the website.
  • The regular and the potential clients have the option of requesting a callback through an online form on the website of the company.
  • This broker offers updated news and market analysis directly on its website.
  • News, analysis and daily updates on the market.
  • It has a free trading signal service for all its customers which are sent directly to the email or the mobile phone of the trader (via SMS). These trading signals are easy to follow and allow to trade with Forex, gold, silver and stock indices.
  • XM offers regular market analysis conducted by experts, which are based on technical analysis and other types of approaches.
  • Through its website, XM offers fairly complete free Forex education which focuses on the following aspects of financial markets: technical analysis, fundamental analysis, Forex brokers, currency pairs, Forex trading, oil trading, and gold trading. This website also has a glossary on the market.
  • It offers a reliable and fast execution (market execution) free of requotes as it is a Non-Dealing Desk broker.
  • This broker offers Phone dealing 24 hours a day from Sunday to Friday.
  • XM does not charge commissions or fees for deposits and withdrawals.
  • Through its website, this broker provides various market analysis tools such as a complete economic calendar.
  • The company has initiated a free trading signals service for all clients with a real account.
  • XM offers a VPS (Virtual Private Server) service for all clients with a minimum account equity of USD 5000 or for any trader that pays a monthly fee of 28 USD. This service, called XM MT4 VPS, improves significantly the execution of manual trades and expert advisors.
  • This broker regularly organizes trading competitions (Contest Arena) for real and demo accounts which offer cash prizes for the winners.
  • XM allows the execution or orders during market news.
  • XM offers the possibility to earn money by promoting its services through an affiliate program called XM Partners.

Main Offers of XM

  • A free bonus of $30 for clients that open a trading account. No previous deposit is required.
  • XM offers a 50% welcome for any trader that opens a trading account and deposit funds. This bonus is only for trading purposes.
  • Also, this broker has a Loyalty Program which consists of a bonus of 10% for every deposit made by any regular client of XM. This bonus is only for trading purposes.
  • Free Forex webinars for all traders interested in improving their knowledge and education.

Other Categories of this broker

  • CFD Broker.
  • Gold Broker.
  • Silver Broker.
  • Oil Broker.
  • Metatrader 4 Broker.
CompanyXM (Formerly XEMarkets)
Operating since2010.
Minimum account size$5 with the Micro Account
Minimum lot size0.001 lot.
Maximum Leverage*Up to 1:888.
Spreads
XM offers variable and very low spreads from 1 pip or less for the major currency pairs like the EUR/USD.
The prices are provided in 5 decimal points for more accurate quoting.
Demo accountYes, with no limit of time
Link to the website
XM Website
Open an account
Forex broker XM