XM
Min $150
- Min Deposit $150
- Max Leverage: CySec 30:1, ASIC 500:1, IFSC 888:1
- 1,000+ Tradable Assets
- Forex, Stocks, Commodities, & Indices
- Credit/Debit card, Bank transfer, Electronic wallets
- Web Trader, Mobile App, Desktop Trader, MetaTrader 5, MetaTrader 4
- 24/5 chat, email, phone
- Regulated by CySEC, ASIC, IFSC
- 21 Languages Supported
- No Cryptos & ETFs
- No 24/7 support
- Average Forex fees
- Lack of diversity between the different account types
XM Review
XM is a competent Forex and CFD broker, which serves customers in 196 countries and has a total staff count of 1,300. It was founded in 2009 and it sits under Trading Point Holdings Ltd, which owns XM Australia, XM Global and XM Cyprus. Its headquarters are in Limassol, Cyprus.
XM Fees Review
- Free stock trading
- No withdrawal fees
- Low CFD fees
- $5 per month inactivity fee after 3 months of no trading
Stock Fees
XM doesn’t charge commission on real stock trading, i.e. there are no broker fees when opening or closing the position. This doesn’t apply to short or leveraged positions.
CFD Fees
CFD trading fees are low on XM. E.g., for a $1,000 long position held for a week, the fees are:
| S&P 500 index CFD fee | Europe 50 index CFD fee | Apple CFD fee | |
|---|---|---|---|
| Fees | $1.2 | $1.2 | $2.5 |
Forex Fees
Forex trading fees are average on XM. E.g., for a $10,000 30:1 long position held for a week, the fees are:
| EURUSD | GBPUSD | AUDUSD | EURGBP | |
|---|---|---|---|---|
| Fees | $8.6 | $7.0 | $6.9 | $6.0 |
Non-trading Fees
| Account Fee | Deposit Fee | Withdrawal Fee | Inactivity Fee |
|---|---|---|---|
| $0 | $0 | $0 | $5 per month after 3 months of inactivity |
XM Deposits & Withdrawals Review
- Bonuses on IFSC and ASIC regulations
- Min deposit $150
- 11 account base currencies
- Credit/Debit card, Bank transfer, Electronic wallets
- $15 withdrawal fee for bank transfers below $200
- PayPal deposits are not currently supported
Account Base Currency
When you trade via XM, you can choose between the following account base currencies: GBP, USD, EUR, CHF, RUB, AUD, JPY, PLN, HUF, SGD and ZAR. It’s also worth pointing out that you won’t pay a conversion fee if you trade assets in the same currency as your account base currency or if you make transactions between your trading account and a bank account in the same currency.
Deposit & Withdrawal Fees
| Payment Method | Fees |
|---|---|
| Credit/Debit card | None |
| Electronic wallets | None |
| Bank transfer | $15 fee for bank transfers below $200 |
How long will it take for my deposit to show on XM?
Are there any limitations on how I withdraw money?
When will I have access to my money if I withdraw from XM?
What is XM minimum deposit?
Can I withdraw any amount?
Does XM charge withdrawal fees?
Are there any terms on where I direct any funds I withdraw?
Make your First Deposit with XM
back to menu ↑XM Account Types Review
You can easily open an XM account online using your email address and you can then choose between 3 options: Micro, Standard and XM Zero.
| Micro Account | Standard Account | XM Zero Accounts | |
|---|---|---|---|
| Base Currency Options | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | USD, EUR, JPY |
| Contract Size | 1 Lot = 1,000 | 1 Lot = 100,000 | 1 Lot = 100,000 |
| Spread on all majors | As Low as 1 Pip | As Low as 1 Pip | As Low as 0 Pips |
| Commission | No | No | Yes |
| Maximum open/pending orders per client | 200 Positions | 200 Positions | 200 Positions |
| Minimum trade volume | 0.01 Lots (MT4), 0.1 Lots (MT5) | 0.01 Lots | 0.01 Lots |
| Lot restriction per ticket | 100 Lots | 50 Lots | 50 Lots |
| Islamic Account | Optional | Optional | Optional |
Platform Languages
The XM platform is multilingual with 21 languages: Arabic, Bengali, Chinese, Czech, Dutch, Filipino, French, German, Greek, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Vietnamese.
Open a Trading Account with XM
back to menu ↑XM Platforms & Assets Review
- 1,000+ tradable assets
- Forex, Stocks, Commodities, & Indices
- Web Trader, Mobile App, Desktop Trader, MetaTrader 5, MetaTrader 4
- Can’t change the leverage levels
- No Crypto & ETFs
XM gives you more than 1,000 trading options on the MT4/MT5 platforms. These range from stock and commodities CFDs to metal and energy CFDs and many others. Regarding Forex, you can choose from over 55 pairs, including the most popular ones. However, XM doesn’t offer binary options or futures.
In terms of spreads, you have a choice of 3 different accounts with a minimum spread of 0.1pips and an average spread e.g. for a EUR/USD pair of 0.1 pips.
XM allows you to choose your own leverage risk, with a flexible leverage range between 2:1 and 30:1. Margin requirements are constant throughout the week and they don’t widen on weekends or nights. back to menu ↑
XM Customer Service Review
- Live chat, phone and email
- No 24/7 support
XM offers good customer service via phone, live chat and email in 28 languages.
back to menu ↑Is XM safe?
| Regulator | License | Legal Entity |
|---|---|---|
| Cyprus Securities Exchange Commission (CySEC) | 120/10 | Financial Instruments Ltd |
| Australian Securities and Investments Commission (ASIC) | 443670 | Financial Instruments Pty Ltd |
| International Financial Services Commission Belize (IFSC) | 000261/106 | XM Global Limited |
Is XM safe?
- Yes, it is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investment Commission (ASIC), and the International Financial Services Commission Belize (IFSC).
Is there negative balance protection on XM?
- Yes, XM will cover any excess loss.
Specification: XM
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Videos: XM
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