XM review: Regulations, Platforms, Features and Ratings.
5 star XM broker review by Kiran, India
What is XM Forex?
XM Group is a group of regulated online brokers:
- Trading Point of Financial Instruments Ltd was founded in 2009 and regulated by CySEC (Cyprus) became the first member of XM Group;
- Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by ASIC (Australia);
- XM Global Limited was established in 2017 and is regulated by the FSC (Belize);
- Last member of XM family - Trading Point MENA Limited was established in 2019 and is regulated by the Dubai FSA.
XM trading offers full edition of the popular MT4, MT5 platforms which includes numerous proprietary indicators. XM TV provides daily forex news videos and market analysis, also available as an audio podcast.
Additionally, XM clients can benefit of Autochartist, Analyzzer, and ideas from Trading Central and of course the MetaTrader marketplace.
Please note that the products, services, and features advertised here vary between the XM entities. For
further information, please visit the XM website.
Please read XM Reviews below and share live trading experiences with this broker.
|Minimum Trade Size:||0.01|
|Minimum to Open Live:||$5|
|Address:||12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus|
|Contact:||email@example.com, +357 25029933|
|Regulators:||ASIC #443670, FSC #000261/397, CySEC #120/10, DFSA #F003484|
|Prohibited countries:||Show all >>|
|Trading platforms:||MT4, MT5, XM App|
|Web Trading:||✅ Yes|
|Mobile Trading:||✅ Yes|
|CFD:||(940+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities|
|News Trading:||✅ Yes|
|Deposit Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill|
|Withdrawal Methods:||Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill|
XM Most Helpful Customer Reviews
Fast Withdrawal, Good Customer Service, and Honest Broker
The customer service is so helpful and there is no price manipulation. I hope XM could improve more by applying a fix rate deposit such as $1 = Rp.10.000 so trader could trade with more balance and espescially there is no spread from the local depositor.
PLEASEEE. IF YOU ARE A SERIOUS TRADER, DON'T TAKE THE BONUS ACCOUNT. Because there is a lot of rules that you need to obey in order to trade at XM. Most problem is came out from the bonus account user who against the rule.
XM is a honest and trusted broker, i recommended this broker for you all -BR141
Trading with them Since 2020, great broker.
Good broker for Indians
Good overall broker
i did compare spreads myself.
Regarding deposit and withdrawal, i used skrill, deposit was literally instant, withdrawal took 30min max.
Chat support is good, agents respond pretty fast and are aware of the details, i liked it too.
what i didn't like was the MT5 platform, the news tab wasn't working, i had to keep switching windows to stay updated, i hate that.
and autochartist can't be integrated with the XM MT5 account, live chat agents couldn't help me regarding these two matters.
and the XM mobile app, it is not good at all and way too simple, I had to use MT5 mobile app if i wanted to do some decent analysis on the go.
overall, XM is a good broker and i liked my experience despite these downsides, but had to leave XM for a better platform at another broker.
Inability to use the proposed leverage effect
I have investigated the issue related to your review and I can confirm that any actions taken in relation to your trading account with our Company were correctly and fully in line with our Company's Terms and Conditions of business.
Particularly, I can confirm that the leverage ratio in your trading accounts is set to 1:100 and you will no longer be eligible to participate in any trading bonus programs, due to risk management procedures and the nature of your trading activity.
As per my investigation, the trading patterns and trading behavior in your trading accounts were indicating that you were exploiting the applicable leverage ratio of the said trading accounts aiming to solely benefit financially during trading hours where market volatility is significantly high.
In view of the above, I would also like to inform you that the same trading conditions will apply to any new trading account(s) registered with our Company.
Recent User Reviews of XM
Most reliable broker
And the support and manager team is the best in communication and help.
Frequently Asked Questions
Is XM a good broker?
Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.
Additionally, we recommend to check recent XM broker community discussions: https://www.forexpeacearmy.com/community/tags/xmcom/
What is the minimum deposit for XM Broker?
How do I deposit money in to my XM broker?
- Login to XM broker members area.
- Select the deposit method (Credit and Debit cards, Neteller, Bank Wire Transfer or other).
- Select the XM account and specify the deposit amount.
- Enter the appropriate payment details.
How long does it take to withdraw from XM?
Then it may take another 2-5 business days for the bank to process wire or for card transaction to be reflected in your account.
For faster XM withdrawal you may opt for the e-wallet, this payment is received the same business day.
Can I withdraw XM bonus?
Check the terms and conditions of any bonus program before accepting a bonus.
Please note that bonus is not available for clients registered with EU/AU/Mena regulated entities.
How much can I withdraw from XM?
The maximum withdrawal amount from XM is determined by the payment method with Bank Wire limits being the highest.
Please be aware of the XM withdrawal priorities, if you deposited money with the credit card or e-wallet, then withdrawal is processed via the same method up to amount deposited before you are able to select other withdrawal methods.
Does XM allow scalping?
It is always a good idea to check fresh reviews on Forex Peace Army to see if traders recently encountered any serious problems with scalping using XM trading platforms.
What is XM zero account?
The trade off is a broker commission of $7 per lot round turn charged when opening the trade.
Some regions may have different account options.
Is XM a regulated broker?
- Australian Securities and Investments Commission (ASIC), registration #443670;
- Belize Financial Services Commission (FSC) #000261/397;
- Cyprus Securities and Exchange Commission (CySEC), registration #120/10;
- Dubai Financial Service Authority (DFSA), registration #F003484.
Does XM charge commission?
- Micro Account and Standard account are commission free
- XM Zero account features ultra-thin spreads but charges commission of $7 per round lot traded payable at the order opening time
- Some regions may have other account types
What is XM leverage?
Higher leverage allows to trade the borrowed capital which increases both the profit potential and the risk of loss.
Some trading strategies like automated scalping may require high leverage while many professional traders do not use much leverage.
Please trade responsibly selecting the leverage based on your risk appetite and loss tolerance level. Some regions may only offer lower leverage.