History and Foundations
XM was established in 2009. Over a decade later, it is now renowned in the online trading business. The exposure that XM has had to these markets over the years is because it has been able to communicate its hallmark of transparency, reliability, and innovation.
Mission and Vision
Supreme trading experience, competitive trading conditions, and cutting-edge technology are all part of XM's mission. The vision is clear: XM aspires to be a world leader in online trading by continuously earning its clients' trust through extraordinary services.
Global Presence
XM operates in more than 190 countries around the world. Approximately 30 languages are spoken at the broker, making it possibly the most globally diverse broker. Some examples of its international involvement include the company's locations in Europe, the Middle East, and Asia, from where it provides localized support and offers services adapted to the area.
Strengths and Weaknesses
Key Strengths
- Multiple regulations
- Extensive instruments offering
- VPS hosting
- Thematic indices
- Robust supporting content
Areas of Improvement
- Above-average fees
- No cryptocurrencies
- Limited platforms offering
Security and Regulations
Proof of License
The regulatory bodies that have jurisdiction over XM include the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission (IFSC).
Fund Segregation and Insurance
Client funds are segregated from company accounts and are maintained in top-tier bank accounts. Moreover, protection against negative balances means clients cannot lose more than their deposits.
Instruments for Trade
Forex Pairs
With XM, you can trade over 55 forex pairs, including major, minor, exotic, and emerging market currencies, benefiting from high liquidity and competitive spreads.
Commodities
Trading in gold, silver, oil, and other agricultural goods is supported with low margin requirements and favorable trading conditions.
Indices
The global indices available to clients give them access to stock markets rooted in prominent countries, such as Nasdaq, The Standard & Poor's 500, FTSE 100, and the Nikkei 225, among others.
Cryptocurrencies
Bitcoin and Ether are among the major cryptocurrencies that XM offers an opportunity to trade in.
Account Types
Ultra Low
Minimum deposit | 0 |
---|---|
Commission | 0.8 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 30:1 |
Margin call level | 50 |
Stop-out level | 50 |
Zero
Minimum deposit | 0 |
---|---|
Commission | 0.0 |
Available tools | 0 |
Leverage, min | 1:1 |
Leverage, max | 30:1 |
Margin call level | 50 |
Stop-out level | 50 |
Fees and Charges
Spreads and Commissions
Starting from 0.0 pips on XM Zero Accounts, the operator provides industry-leading spreads. Standard and Micro Accounts do not charge commissions.
Swap Rates
Islamic accounts do not charge swaps. XM provides open swap rates on the internet.
Inactive Account Fees
Brokers impose inactivity fees within a standard 90-day dormant period.
Trading Platforms
Available tools | Forex, Shares, Indices, Commodities |
---|---|
CFD | Forex: 55 Cryptocurrency: 31 Commodities: 8 Indices: 11 Metals: 3 Energy: 3 Stocks: 337 |
MetaTrader 4 and 5
XM offers both MT4 and MT5 platforms, providing much-analyzed and automated trading for its traders; they can be customized.
XM Mobile App
Trade on the go with XM mobile apps, which cater to iPhone and Android users, offering a smooth and intuitive trading experience.
WebTrader
The WebTrader platform launched by XM allows traders to use the full set of functionalities without downloading anything.
Customer Support
Steps to Register
The registration process is quick and easy. You complete an online form, select an account type, and confirm your ID to start trading.
Verification Requirements
For verification, clients must supply an ID, such as a passport or government ID, as well as proof of address, such as a utility bill or bank statement, before they can register according to regulatory standards.
Deposits & Withdrawals
Methods for Deposit
XM supports payments through Skrill, Neteller, credit and debit cards, and bank transfers.
Times of Processing
Deposits are processed immediately, while payouts typically take 1-3 business days, depending on when the payout was requested and the method used.
Associated Costs
Deposits are fee-free, but some fees are associated with certain withdrawal options. For a more detailed overview of associated fees, visit the broker's site.
FAQs
Is the broker regulated?
XM is regulated by CySEC, ASIC, and IFSC, ensuring it provides a secure and transparent trading environment.
Which platforms are available for trading?
XM offers MetaTrader 4, MetaTrader 5, XM WebTrader, and mobile app platforms for trading on the move.
What is the minimum deposit needed to open an account?
The minimum deposit starts at $5, making XM accessible to everyone.
What accounts does the broker offer?
XM provides Micro, Standard, XM Zero, and Islamic accounts to suit a variety of trading needs.
What fees and commissions are levied?
Costs include spreads, commissions on XM Zero Accounts, swap rates for overnight positions, and inactivity charges if an account remains dormant.
What is the highest leverage offered?
The highest leverage offered is up to 1:888, depending on the account type and regulatory jurisdiction with the broker.
Does it have demo accounts?
Yes, XM offers demo accounts with virtual funds so traders can practice and test strategies without risking their money.
How do I contact the broker?
You can contact XM through live chat, email, or telephone. Multilingual customer support is available 24/7.