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XM broker review and test – Is it a scam or not?
REVIEW:
REGULATION:
SPREADS:
MIN. DEPOSIT:
ASSETS:
(5 / 5)
IFSC, CySEC, ASIC
Starting 0.0 Pips
5$
1,000+
Should you avoid the online brokerXM or is it actually a recommendable company?
Here, you can read our own test report on this Forex and CFD broker. Find out more about the terms and offers for traders in the following text. Also, we carefully explain to you how the trading process works so that your investment is as safe as possible.
(Risk warning: 75.59% of retail CFD accounts lose)
What is XM? – The forex broker presented
XM Group (XM) is a group of regulated online brokers. XM is a forex broker that was founded in 1999. It is based in Cyprus, but it has offices all over the world and offers its clients the ability to trade currency from anywhere in the world. XM offers access to the most popular and liquid forex markets around the globe, including those of the U.S., Canada, Europe and Asia. The company also offers trading through its mobile app, which makes it easy for traders to keep their positions up-to-date on their phones or tablets while they’re on the go.
The goal is to give the customer a very fair and reliable offer for investing in international financial markets. The company has put a lot of time and effort into developing its customer support team, which responds to queries in more than 30 languages. We will detail the steps involved below. The broker is extremely active in the distribution of advertising and sponsorship. For instance, the company often sponsors financial conferences around the world.
XM offers traders more than 1000 different markets to trade. These include currencies, commodities, precious metals and energies. Stockpiles of the major companies are also available for trading through this platform A broker acts as an intermediary for financial contracts that are bought and sold, much like stocks. At first glance, the offer seems very large and also trustworthy because of the company data.
Facts about the FX Broker XM.com:
XM is a global financial services company that offers online trading, investment banking, and research.
With over 25 years of experience in the industry, XM is one of the leading forex brokers on the market.
XM has over 250 employees worldwide, and offers services in more than 20 languages.
The company has offices in multiple countries around the world including: US, Australia, UK, Germany and South Africa (among others).
XM has won several awards over the years including being named Best Forex Broker by International Finance Magazine and Best Retail FX Broker by CityAM Financial Awards.
(Risk warning: 75.59% of retail CFD accounts lose)
Regulation of XM and safety of customer funds
An official regulation or license radiates trustworthiness and security. The official regulation of the broker is a key aspect in establishing the broker’s trustworthiness. The more strict and transparent this regulation is, the better it is for investors. A brokerage company that is regulated by the country’s financial authority and has an official license radiates trustworthiness and security.
When it comes to brokers, there are many different types of them. Some are regulated by a country’s financial authority while others are not. But even those that are regulated by a financial authority cannot be trusted 100% because they may still have problems hiding them from the public. This can be done by manipulating certain things such as their fees or commissions.
The advantage of having an official license is that it shows you all of the information about your broker which includes their history as well as any complaints against them, if there were any at all! This way you’ll know if they’ve been doing anything illegal or unethical in order for them to gain more profits.
Another good impression for us is that XM has several licenses. The broker is regulated by an official financial regulator in more than 4 countries, and it’s registered in many European nations with appropriate supervision. This allows the company to provide services throughout Europe under EEA freedom regulations.
In addition, XM’s customer funds are held in segregated accounts at several banks that meet certain regulatory criteria. The broker is also a member of the Investor Compensation Fund—an organization created by financial regulators to protect investors against losses caused by fraud or other bad acts committed by brokers and businesses operating within the industry. XM does not trade against its clients, which is prohibited by regulation. And for even greater protection, there is a negative balance guarantee.
XM has been around for over 20 years and is one of the oldest and most trusted brokers in the world.
XM offers a wide variety of trading platforms, including web-based trading platforms and mobile apps that make it easy to trade on the go or even in bed!
XM offers investors access to over 500 currency pairs with competitive spreads on all currencies pairs available for trading with no commission fees applied to any trades conducted on its platform at all times!
ESFA Regulation
The European Financial Services Authority (EFSA) is a financial regulator that oversees the financial industry. It was created as part of the European Union’s efforts to create a unified financial market. EFSA was established by the European Commission in 2014, and its main goal is to ensure that all banks across Europe are following the same rules and regulations.
The EFSA is responsible for enforcing regulations set forth by the EU, including those related to capital adequacy and liquidity, credit risk management, market risk management, trade reporting systems, asset management, insurance supervision and investment services. They also oversee financial market infrastructures (FMIs), which are organizations that provide services or facilities for financial markets participants.
(Risk warning: 75.59% of retail CFD accounts lose)
Review of the XM trading conditions for traders
XM is very broad with over 1000+ tradable instruments. A trader who wants to trade a variety of assets should be able find what he or she is looking for at XM. In addition to stocks and commodities, currencies (Forex), precious metals and energies are offered. A special advantage in stock trading is the option of trading on international exchanges with local instruments from more than 14 different countries—an opportunity that might not exist with other providers.
Available markets:
Currencies
Stock CFDs
Commodities CFDs
Indices CFDs
Precious Metals CFDs
Energies CFDs
XM offers its clients access to the most widely used trading platforms, MetaTrader 4 and 5. These programs are well known throughout the industry as being an excellent choice for private traders like yourself. We will give you more details about them in our section on Trading Platforms.
Assets and markets of XM.com
The terms of trading in leveraged financial products are, in my experience and tests, very good and competitive. XM relies on several different account types—the more money you have under management with them, the better your conditions will be. Accounts can start with no spread. The execution is fast and reliable, with no delays in trading or processing orders.
As a trader, you can start trading for as little as a $ 5 minimum deposit or use a free demo account. XM offers different types of accounts for each type of capital. Overall, its conditions apply a very positive impression on us and make it one of the cheapest and most reliable brokers.
Conditions for traders:
No minimum deposit.
No deposit fee.
Free $100 bonus on your first deposit.
Free demo account with a $5,000 virtual trading limit
Optional leverage of 3:1 and 10:1
Free access to all platforms, from MetaTrader 4 to ProRealTime.
REGULATION:
SUPPORT:
ASSETS:
SPECIAL:
CySEC, ASIC, IFSC
24/5 in different languages, webinars, and training tutorials
1000+ (Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, and Energies CFDs)
(Risk warning: 75.59% of retail CFD accounts lose)
Review and test of the XM trading platform
As mentioned before in this review, the well-known trading platform Metatrader in versions 4 and 5 is offered. In this review, we have already mentioned the well-known trading platform Metatrader in versions 4 and 5.
Metatrader 4 is the oldest version of the MT4 platform, but it is still considered the most stable and reliable. Many traders prefer this version because it has a lot of trading tools and indicators.
Metatrader 5 is an updated version of MT4 and has many new features, including an improved charting package, better order management system, and faster execution speeds.
Metatrader is one of the most popular software programs for online trading in the world. It can be used on Windows and Mac computers as well as mobile devices like smartphones, tablets or laptops.
The following trading platforms are available:
Standard MT4 platform – the default trading platform for most brokers, it is built on the MetaTrader 4 platform.
MT5 – a more advanced version of MT4, it offers better charting and technical analysis tools, as well as more sophisticated order types.
Webtrader – an online trading portal that enables you to trade directly from your PC or mobile device.
Trading Platform available for any device
The advantages of the XM MetaTrader:
The XM MetaTrader is a great choice for traders who are looking to get started with the MT4 platform and want something that’s easy to use, but still powerful. It offers many features that make trading easier, including an array of built-in indicators and technical analysis tools.
The platform is also flexible, which means that you can customize it to suit your needs.
The XM MetaTrader also has a large selection of charting tools available at no extra cost. This includes over 250 different chart types, which makes it easy to find one that works for you.
(Risk warning: 75.59% of retail CFD accounts lose)
Charting and analysis for forex trading
We believe in the power of trading charts and analysis. We’ve seen it help traders make the right decisions, and we want you to have access to that same power. That’s why we offer over 50 different technical indicators and charting tools in our platform.
Our goal is to help you make better decisions about when and where to place your trades. We know that this can be hard to do on your own—especially when you’re just starting out—so we’ve created a simple interface that makes it easy for everyone from beginners to experienced traders to use.
We believe that forex trading should be accessible for everyone. That’s why we offer a free trial so you can try out our platform before committing any funds. We also offer a demo account so you can practice with real money before risking any of your own cash.
Mobile trading for any device possible
The software is available for every device—you can use it on Apple (iOS) and Android devices. Mobile trading today is a standard requirement, as it’s important to be able to respond quickly whenever there are breaking news related opportunities or risks. Positions can be opened and managed by your smartphone, which you need only to access. With the account data on each device, you are able to log in anywhere with ease.
(Risk warning: 75.59% of retail CFD accounts lose)
Trading tutorial: Learn how to trade with XM step by step
In the following section, we would like to give you a guide to trading with Forex Broker XM. The image below shows you the order mask of Metatrader. There are many ways to set up trade execution and this article will tell you how a typical trading process works:
Ordermask- An order mask is a way of hiding the details of an order from other traders in the market. You can think of it as a “cloak” that you put over your order so that only those with permission to see it will be able to see what you’re trying to do.
First, analyze a single one of the 1000 different markets/assets available at XM. Once you have decided to invest or open a trading position for that particular asset/market, fundamental analysis and technical analysis may be used (according as which better suits your personal trading style). Metatrader offers ample tools and settings for both types of market evaluation
One way to bet on rising or falling prices is with a forex trade; another way is by short-selling stocks via CFD trading.
When you have decided upon your price, choose the amount of currency units to trade and set a stop-loss or take profit level. Beginners should use the XM Forex Calculator to calculate position sizes which are given in lot (1 lot = 100,000 units of base currency).
A stop-loss order becomes active when the price reaches a certain point, while a take-profit places an immediate order once your position hits that level of profit. Learn to divide risk and reward—know how much you can lose in relation to how much you stand to gain if things go right.
Placing pending orders is another way to enter the market. You place an order at a specific price and it will be executed when that price is reached—whether buying or selling.
Open your free account with XM
Open your free account today with XM and get started on your path to financial freedom.
XM is a trading system that uses artificial intelligence to make trades for you. It provides you with the tools and knowledge to trade yourself, as well as a way to start off without the risk of losing money if you don’t know what you’re doing.
You’ll be able to open an account for free and start using it right away. Once you’ve made some trades, you can decide whether or not it’s worth upgrading to the paid version so that you can have access to more features and potentially higher returns on your investments!
Free and unlimited demo account
A demo account is a virtual balance account. Free and unlimited demo account is the best way to start your trading journey. The demo account does not require any deposit and offers a chance to test the waters before diving into the real thing. It is also important to note that this account is completely free and you can open an unlimited number of accounts with no restrictions or limits on any of them.
How to open your real account
Once you’ve decided to trade with XM, the next step is opening a real money account. This requires more data—including your knowledge of trading before opening an account. In order to further ensure the security of your account, you must confirm your phone number. Before the capitalization, a passport and proof of residence are required for verification purposes.
XM guides you through the account opening process with a detailed and accurate step-by-step guide. If you have questions, there’s always support available to help out. All in all, it can take no longer than a few minutes to open an account with XM!
(Risk warning: 75.59% of retail CFD accounts lose)
Choose the best account type for you
XM offers the advantage of 3 different account types. Micro, Standard and XM zero are the different types of accounts at XM. The account is adjusted to each customer’s capital strength; in a micro account, traders can execute trades which use very small position sizes (risking only a few cents) while there’s also separate cent contracts available if they want that just-so-extra granular control over risk!
The “Standard” and “XM zero account” have normal lot sizes. The difference between these two accounts lies in the fees that you will be charged, as well as the currencies available for trading. For example, you can choose from 7 different currencies with a standard account but only 2 for an XM zero ” The spreads on the XM zero account are much lower than those of other accounts. They start at 0.0 pips and include a $ 3.5 commission per each $ 100,000 traded—a figure that is still significantly cheaper than that charged by standard accounts from other brokers (which can be as high as 1-2%).
MICRO
STANDARD
XM ZERO SPREAD
MIN. DEPOSIT:
5$
5$
100$
CURRENCY:
USD, EUR, GBP, CHF,
AUD, HUF, PLN
USD, EUR, GBP, CHF,
AUD, HUF, PLN
USD, EUR
SPREADS:
1.0 Pips
1.0 Pips
0.0 Pips
COMMISSION:
No
No
3,5$ commission per 1 Lot traded
ISLAMIC ACCOUNT
Yes
Yes
Yes
(The XM ULTRA LOW account provides lower spreads and the option to trade in micro or standard lots. It has a minimum initial deposit requirement of $50, but it is not applicable to all entities within the group)
Should you choose fixed or variable spreads?
Some brokers offer their clients fixed spreads, which means that the spread (the difference between buying and selling price) is always the same. But it comes at a cost: high fees or insurance premiums are often added to make up for any profit they may lose by not being able to charge more when market conditions deteriorate. In addition, it is difficult to guarantee fixed spreads because the stock market does not work according to such principles. Fixed spreads are generally unnatural and thus risky for investors.
XM offers its clients interbank spreads. The advantage is that there is no conflict of interest, since XM does not act as an intermediary in the transaction. Also, because you always get to see current market prices directly (and at no cost), it’s a plus point for us here too!
(Risk warning: 75.59% of retail CFD accounts lose)
Do your first deposit (minimum deposit)
Now it is your turn to capitalize on the trading account. Using our experience, we will give you an overview of the payment methods this works fast. For example, you can use either electronic ways or a classic transfer for deposit.
Using electronic methods (credit card, e-wallets, and Skrill), money is credited directly to the account. Bank transfer can take 1 to 3 days; fees for deposit are not applied. The minimum deposit—only $ 5 per person with this online broker.
Review of the withdrawal at XM
To ensure payment of client funds, a good broker will use methods that eliminate the possibility of delays and difficulties.
XM boasts an impressive track record for making payments in less than a day and charges no fees. If you transfer less than $200 via bank account, though, it will take three days to process the transaction. XM, one of our long-standing clients, has always been extremely careful with client funds.
The conditions for payments:
Credit Card (VISA, VISA Electron, MasterCard, Maestro)
Electronic Wallets (Neteller, Skrill, and more)
Bankwire
Minimum deposit 5$
Withdrawal within 24 hours
No withdrawal fees (except bank wire under $ 200)
Is there a Negative Balance Protection?
There is a negative balance protection, which is a feature that allows you to avoid paying additional fees when your account balance drops below $0. This can happen if you have a margin position and the value of your shares drops below what you paid for them.
The negative balance protection will prevent you from having to pay any fees if this happens, but there are some things to keep in mind:
You must have enough cash in your account to cover any losses incurred by this feature. If there isn’t enough cash in your account to cover those losses, then you will be charged an interest rate of 9% on any remaining debt.
This feature only works on stocks; it does not work on options or futures contracts.
With XM.COM there is no additional payment obligation—the broker will automatically stop all postings before your account balance becomes negative anyway (very unlikely). Should it happen, however, XM guarantees to compensate you for any such losses.
(Risk warning: 75.59% of retail CFD accounts lose)
XM support and service for traders tested
XM has a long history of providing traders with the best possible service. We know that you can’t be a successful trader unless you have reliable and efficient trading software, so we make sure to provide our customers with all the tools they need to succeed.
We’ve spent years perfecting our technology, and we’re constantly working to improve it even more. Our support team is ready to answer any questions you might have about how to use our platform or how to trade more efficiently on it.
Our customer service team is available 24 hours a day, 7 days a week by phone, email, live chat and social media (Facebook Messenger).
In conclusion, we can say from my experience that the analysis offered by this service is very well applicable to its own market. Beginners and advanced traders can expand and improve their knowledge for free—and the service makes a good impression on me overall.
(Risk warning: 75.59% of retail CFD accounts lose)
Conclusion of the XM broker review – Scam or reliable company?
XM can hold its own in comparison to other brokers and gets a very good rating from me on this page. With its array of licenses and regulations, the company has a high level of security and trustworthiness. In addition, client funds are managed separately from corporate funds—which eliminates conflict-of interest concerns.
The broker’s offer is very large, with over 1000+ markets available to private traders. For example, the portfolio will also be supplemented by new markets from distant countries. The Metatrader trading platform is a perfect tool for analyzing markets and opening trades. The broker guarantees its customers’ satisfaction by offering a diverse range of services.
Another advantage is the terms of trade and in the deposit and withdrawal. At XM, the low fees are only one of the many positive features. The customer support is outstanding—you get not only technical help but also a great way to educate yourself in trading.
The advantages of XM:
More than 1,000 different assets
A regulated and safe company
Cheap trading fees
No hidden fees
3 different account types
Metatrader Software
Professional support and service
Accept international customers (Europe, Africa, Indonesia, Asia, India, China, and more)
XM Broker Review
Review of XM Broker
Trusted Broker Reviews
Regulation
Platform
Trading offers
Customer support
Deposit
Withdrawal
Summary
XM Broker offers more than 1000 assets, and its trading fees are low—there are no hidden costs.
5
In summary, XM is a recommended and trusted Forex Broker. We highly recommend this company after our test. Happy Trading (5 / 5)
The XM.com broker is a fully regulated broker by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). This means that you are protected by the FCA’s rules, including the Retail Distribution Review (RDR), which protects consumers from unfair practices in financial markets.
The Cyprus Securities and Exchange Commission regulates all securities firms operating in Cyprus, including brokers like XM.com.
We have a 14-day trial to help you get started. Just sign up, enter your email address and password, and you’ll receive an email with a link to start your trial. Once you’ve done that, you’ll be able to use the website for two weeks without paying anything. After that, we hope you’ll choose to subscribe to XM’s premium subscription service.
Yes – XM.com offers every client a free demo account to test the platform and markets. XM.com is a broker that offers a wide range of markets, including stocks and options. The company also provides access to foreign markets, commodities, currency pairs, and bonds.
(5 / 5)
(5 / 5)
