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XM Broker Review

XM Broker Review
Petar Nola
XM is an FCA licensed broker (brand by Trading Point Holdings Ltd) offering a wide selection of markets to trade CFDs through MetaTrader4 and Metatrader5 platform. Lately it has been popularised also as a sponsor for Usain Bolt. Important thing to highlight with XM is the fact they treat all customers with same good trading... Read more
XM is an FCA licensed broker (brand by Trading Point Holdings Ltd) offering a wide selection of markets to trade CFDs through MetaTrader4 and Metatrader5 platform. Lately it has been popularised also as a sponsor for Usain Bolt. Important thing to highlight with XM is the fact they treat all customers with same good trading conditions, execution and level of customer support. As a winner of several international forex awards, XM Forex is bringing quality to the table which only several other brands can match. For the details on pros and cons on this broker, read our XM Forex review.
4.5

  1. XM is an FCA licensed broker (brand by Trading Point Holdings Ltd) offering a wide selection of markets to trade CFDs through MetaTrader4 and Metatrader5 platform. Lately it has been popularised also as a sponsor for Usain Bolt. Important thing to highlight with XM is the fact they treat all customers with same good trading conditions, execution and level of customer support. As a winner of several international forex awards, XM Forex is bringing quality to the table which only several other brands can match. For the details on pros and cons on this broker, read our XM Forex review.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    Your capital is at risk

  3. XM Special features

    XM forex offers several types of trading accounts, but they have kept it simple. The idea is for the trader to easily find the account profile she thinks suits her and opens a live account easily. In case the trader is not sure, there is always a demo account, as with other Forex and CFDs brokers ensuring that there is a way to test drive the platform and basic trading services in a risk-free environment.

    Important thing to note is that there are also plenty options for the base currency accunt with Micro/Standard account – traders can choose between USD, EUR, GBP, JPY, CHF, AUD, HUF, ZAR, SGD, PLN and RUB. STP account with 0 commissions supports EUR, USD and JPY.

    XM Micro Account

    If you were to small-size the trading account and the investments to accommodate smaller trades, volumes and deposits and reach newbies, the Micro type of account would be the result. Only some of the broker offer this type of account and XM creates a pretty compelling offer here:

    • $5 deposit
    • Micro account means 1lot = 1000 instead of 100,000
    • Leverage depends on deposit amount
    • Leverage up to 1:500 for lowest deposits
    • Spreads on majors from 1 pip
    • No commission
    • Minimum trade 0.01lot MT4 or 0.1 lot MT5
    • Hedging allowed
    • Islamic account per request

    XM Standard Account

    The XM Standard account is the basic trading offering that includes all the benefits listed with the Micro account, however, the lot size here is standard, meaning the average trade is larger too, and so will be the volumes. In this case, even though minimum deposit is $5 too, larger sums may be advisable, depending how experienced the trader is when it comes to trading. You can also discuss this with the XM support.

    • $5 deposit minimum
    • standard lot size (100,000)
    • 0,01 lot minimum trade
    • lot restriction per ticket is 50 lots
    • hedging is allowed
    • Islamic account on request
    • Up to 1:500 leverage, depending on the amount deposited

    XM Zero Account

    For those trading large volumes who prefer their spreads as low as possible and their trading costs fixed in absolute terms – not nibbling on their trades as percentages, Zero account is the solution XM forex offers, and it includes:

    • Minimum deposit of $100
    • Spreads from 0 pips
    • Average spread on most active FX pairs 0.1 pip
    • Leverage up to 1:500
    • Commissions of $5 per lot
    • Full list of instruments available (see next section for details)

  4. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
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    Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

  6. XM Trading software

    XM offers both MT4 and MT5 platforms, however, we see they prefer the newer version, but due to the popularity of MT4 – which still rules the trading world, they support both platforms. XM will write they have 16 platforms, but in our view, there are the two we mentioned. The difference is that XM sees iPhone MT4 version as a separate platform, while we don’t. In any case, it’s just semantics. If you are an experienced trader, you will know what you are getting, if you are beginner, try them out through a demo.

    There is one significant difference between MT4 and MT5 with XM – the MT4 cannot trade stock CFDs, so if you got your eye on that Apple stock to speculate on, make sure to choose MT5 since you won’t find it on MT4. We won’t go into all the other differences between the new version of the MetaTrader, and the old, we are pretty sure this much debated topic won’t get a definitve conclusion soon. In any case, XM also directly offers download for MT4 and MT5 for Mac computers, which we don’t see with many brokers unfortunately. With one broker, we even got instructions how to install a Windows environment software to our Mac and then install Windows MT4 into the environment – the type of unnecessary complications you will not encounter here.

    XM Assets

    Moving on to the underlying asset classes – there are seven with XM forex and they include Forex pairs/currencies, stocks, commodities, precious metals, energies, equity indices and cryptocurrencies. While we would consider metals and commodities one and the same, the sheer importance of Gold or Silver in global markets is reason enough to keep them separate. In total XM claims over 300 assets from these 7 categories.

    XM – Trading Cryptocurrencies

    CFDs can also be used to trade cryptocurrencies, however, these instruemnts are not covered by the EU regulatory framework. Good thing about trading cryptocurrencies with CFDs is that you do not have to own a wallet and can directly use your trading account. Spreads with XM are tight and they offer Bitcoin/USD, Dash/USD, Ethereum/USD, Litecoin/USD and Ripple/USD,  at the moment and its on their MT5 platform. If you want a wider selection of cryptocurrencies, maybe you should try AvaTrade or 24option which offer several cryptos as underlying assets.

  7. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  8. XM Support information

    With XM support, first and the easiest question is the one that the trader needs to answer – which language am I speaking. In case trader wants to use email to contact the support, she can do so to about 24 addresses in 23 countries. Overall XM forex support can answer in 30 languages.

    The support is active 24hrs a day, 5 days a week (Mon-Fri). Traders can also use the phone number provided or live chat if they want quick answers. Overall one of the best customer supports when it comes to the global reach.

    Languages supported are

    • English,
    • Greek,
    • Japanese,
    • Chinese,
    • Bahasa Malay,
    • Bahasa Indonesia,
    • Hungarian,
    • Russian,
    • French,
    • Spanish,
    • Italian,
    • German,
    • Polish,
    • Hindi,
    • Arabic,
    • Korean,
    • Portuguese,
    • Czech,
    • Slovakian,
    • Bulgarian,
    • Romanian,
    • Bengali,
    • Urdu,
    • Thai,
    • Farsi,
    • Nepali,
    • Serbian,
    • Filipino
    • Vietnamese.

  9. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  10. XM Payment Methods

    XM offers a lot of payment methods that include the global ones like credit cards and local payment providers for optimum reach and simplicity. The broker also issues their own debit MasterCard as many others. It is connected to the trading account so it can be used for deposits and withdrawals too.

    Other deposit options are

    • Visa, Visa Electron
    • MasterCard, maestro
    • Diners Club
    • China Union Pay
    • Neteller
    • WebMoney
    • Skrill
    • Klarna
    • iDeal
    • paysafe
    • Qiwi
    • giroPay
    • Przelewy24
    • Fasapay
    • PerfectMoney
    • Boleto
    • OXXO
    • Bank wire

    Not all payment methods support same currencies so make sure to check beforehand. They all have $5 minimum deposit except for bank wire where minimum is $200. XM will cover all the fees, however with bank wire make sure to understand that there is a shared cost and XM takes over their part while still some costs may be incurred on trader’s bank account, by the bank.

    Withdrawals can be done with most of the above payment methods. Ones that are NOT usable for withdrawals are:

    • Klarna
    • iDeal
    • paysafe
    • giroPay
    • Przelewy24
    • Boleto
    • OXXO

    Minimum withdrawal with XM forex is same as the minimum deposit requirement for each of the payment methods.

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    12. Your capital is at risk
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