Detailed Review of XM Broker
XM is a globally recognized MetaTrader-only broker known for its comprehensive educational content, robust market research, and competitive fees. This review delves into various aspects of XM, providing insights into its offerings, account types, trading platforms, and more to help potential users understand why XM might be a suitable choice for their trading needs.
Company Overview
XM, part of the XM Group, is a collection of regulated online brokers established over the past decade. Here’s a brief overview of their regulated entities:
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Entity
|
Year Established
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Regulating Authority
|
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Trading Point of Financial Instruments Ltd
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2009
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Cyprus Securities and Exchange Commission (CySEC 120/10)
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Trading Point of Financial Instruments Pty Ltd
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2015
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Australian Securities and Investments Commission (ASIC 443670)
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|
XM Global
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2017
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International Financial Services Commission (IFSC 000261/158)
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|
Trading Point MENA Limited
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2019
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Dubai Financial Services Authority (DFSA F003484)
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XM boasts over 1.5 million clients across 196 countries, emphasizing transparency, excellent customer service, and a personalized approach to meet diverse investment goals.
Trading Platforms
XM offers two primary trading platforms, accessible from both real and demo accounts:
|
Platform
|
Key Features
|
|
MetaTrader 4
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Forex trading platform with support for stop, limit, market, and trailing orders.
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|
MetaTrader 5
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Multi-asset platform offering access to stocks, stock indices, precious metals, and more.
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Both platforms are available on Apple and Android devices, providing a seamless mobile trading experience. Additional tools include economic calendars and trade volume statistics, enhancing the overall trading experience.
Account Types
XM offers a variety of account types to cater to different trading needs:
|
Account Type
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Base Currencies
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Minimum Deposit
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Key Features
|
|
Micro
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USD, EUR, GBP, CHF, AUD, JPY, HUF, PLN
|
$5
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1 micro lot = 1,000 units of the base currency.
|
|
Standard
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USD, EUR, GBP, CHF, AUD, JPY, HUF, PLN
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$5
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1 standard lot = 100,000 units of the base currency.
|
|
Ultra Low
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EUR, USD, GBP, AUD, ZAR, SGD
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$5
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1 Standard Ultra lot = 100,000 units, 1 Micro Ultra lot = 1,000 units of the base currency.
|
|
Zero
|
USD, JPY, EUR
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$5
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1 standard lot = 100,000 units. Commission-based with spreads starting from 0 pips.
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|
Shares
|
Varies
|
$10,000
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No leverage, commissions as per underlying exchange.
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Spreads and Commission
XM operates with a strict “no hidden fees or commissions” policy, except for the XM Zero account which has a small commission per lot traded.
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Account Type
|
Minimum Spread
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Average Spread (EUR/USD)
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Commissions
|
|
Micro
|
0.1 pips
|
1.0 pips
|
None
|
|
Standard
|
0.1 pips
|
1.0 pips
|
None
|
|
Ultra Low
|
0.6 pips
|
0.6 pips
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None
|
|
Zero
|
0.0 pips
|
0.1 pips
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$3.5 per $100,000 traded
|
|
Shares
|
Varies
|
Varies
|
$1 to $9 depending on the exchange
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Leverage
Leverage at XM varies by the financial instrument and entity regulations:
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Entity
|
Leverage Range
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Applicable Instruments
|
|
EU-regulated
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2:1 to 30:1
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Forex, Commodities, Indices
|
|
Other regions
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Up to 1:888
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Forex, Commodities, Indices, Stocks, Metals
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Leverage is flexible, allowing traders to manage their own risk. Margin requirements remain constant, ensuring stability in trading conditions.
Assets and Markets
XM offers over 1000 financial instruments across various markets:
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Asset Class
|
Instruments Available
|
|
Forex
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55+ currency pairs
|
|
Stocks CFDs
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1200+ individual stocks
|
|
Commodities CFDs
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8 soft commodities, 5 energies
|
|
Equity Indices CFDs
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18 major equity indices
|
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Precious Metals CFDs
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Gold, Silver
|
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Energies CFDs
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Natural Gas, Oil
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Educational Resources
One of XM's standout features is its extensive educational resources:
|
Resource Type
|
Description
|
|
Webinars
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Regular webinars for beginners and professionals
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|
Video Tutorials
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Comprehensive tutorials covering various trading aspects
|
|
Market Analysis
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In-depth technical and fundamental analysis from experts
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Customer Support
XM offers robust customer support available in multiple languages, providing assistance via live chat, email, and phone:
|
Support Channel
|
Availability
|
|
Live Chat
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24/5
|
|
Email
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support@xm.com
|
|
Phone
|
+357 25029933
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Payment Methods
XM supports a wide range of payment methods, ensuring convenient deposits and withdrawals:
|
Payment Method
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Minimum Deposit
|
Processing Time (Deposit)
|
Processing Time (Withdrawal)
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Fees
|
|
Credit/Debit Cards
|
$5
|
Instant
|
24 hours
|
None
|
|
E-wallets
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$5
|
Instant
|
24 hours
|
None
|
|
Bank Transfer
|
$10,000
|
2-5 days
|
2-5 days
|
Varies
|
Accepted Countries
XM accepts traders from a broad range of countries but has some restrictions:
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Accepted Countries
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Restricted Countries
|
|
Australia, UK, Germany, France, Italy, UAE
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USA, Canada, Israel, Iran, Argentina
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Conclusion
XM stands out as a reliable and comprehensive broker offering a wide range of account types, low fees, and extensive educational resources. Whether you're a beginner taking your first steps in trading or an experienced trader looking for advanced tools and a diverse range of assets, XM provides a robust platform to meet your needs. Its commitment to customer service, security, and competitive trading conditions makes it a compelling choice for traders worldwide.
By combining excellent customer support, a wide variety of tradable instruments, and state-of-the-art trading platforms, XM has positioned itself as a leading broker in the Forex and CFD trading industry.
