XM Forex Review

XM Broker Review – Introduction

Since its inception in 2009, XM has amassed more than 10,000,000 clients, evolving into a large, well-established international investment firm and a bona fide leader in the industry. Currently, XM is composed of over 900 seasoned professionals in the financial sector. Their vast experience, coupled with support in over 30 languages, positions XM as the preferred broker for traders of all levels worldwide. Possessing the expertise and resources of a large broker, we are equipped to assist everyone in achieving their investment objectives.

XM is a well-established and globally recognized online trading platform that offers a variety of financial instruments for trading. These include forex, stocks, commodities, indices, and cryptocurrencies. The XM forex review aims to provide detailed and comprehensive information about the platform’s features, functionality, and advantages. It also addresses its credibility, security measures, and customer support quality. This review is intended to assist potential users in making an informed decision about whether or not to use XM as their preferred trading platform.

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XM Account Types

Micro Account

  • Minimum deposit is $5
  • Swaps and Hedging allowed
  • No commission
  • Spreads as low as 1 pip
  • Leverage up to 1000:1
  • Minimum trade volume for MT4 is 0.1 Lots, MT5 0.1 Lots
  • Negative balance protection

Standard Account

  • Minimum deposit of $5
  • Swaps and hedging allowed
  • No commission
  • Spreads as low as 1 pip
  • Leverage up to 1000:1
  • Negative balance protection
  • Minimum trade volume is 0.01 lots

XM Ultra Low Account

  • Minimum deposit is $5
  • Leverage up to 1000: 1
  • Negative balance protection
  • Spread on all majors is 0.6 pips
  • No commission
  • Minimum trade volume: Standard Ultra is 50 lots | Micro Ultra: 100 lots
  • Hedging is allowed | Swaps is NOT allowed

Shares Account

  • Minimum deposit is $10,000
  • NO hedging and swaps
  • Minimum trade volume is 1 lot
  • With commission
  • Spread depends on the underlying exchange
  • Negative balance protection
  • NO leverage

XM Demo Account

The XM Group, a well-known online brokerage firm, offers an XM free demo account. This account permits prospective investors to navigate and acquaint themselves with the trading platforms and conditions provided by XM without any financial jeopardy. It equips users with virtual money, allowing them to experiment with trading strategies and comprehend the dynamics of forex trading, commodities, indices, and other financial tools. The risk-free XM demo account, which mirrors actual market conditions, is a priceless resource for beginners in the trading world, as it eliminates the potential for real financial loss.

XM Forex Review – Islamic Account

The XM Islamic Account is a special type of trading account offered by XM, a well-known forex and CFD broker. This account type is specifically designed to comply with the principles of Islamic law, which prohibits the accumulation of interest or “Riba”. Thus, the XM Islamic Account is free from swap or interest charges on overnight positions, making it suitable for Muslim traders who wish to trade in accordance with their religious beliefs. This account also offers the same trading conditions as the standard trading accounts, including tight spreads and the ability to trade over 1000 instruments.

Trading Assets

  • Forex Trading: This is the trading of currencies, which is one of the most popular forms of trading. Traders can trade a variety of currency pairs, from the most common pairs like EUR/USD to more exotic pairs.
  • Cryptocurrencies: XM Trading also offers the ability to trade cryptocurrencies, a relatively new type of asset. This includes popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
  • Stock CFDs: Contract for Difference (CFD) allows traders to speculate on the rising or falling prices of fast-moving global financial markets (or instruments) such as shares, indices, commodities, currencies, and treasuries.
  • Turbo Stocks: These are a type of CFDs that allow traders to take a position on a stock’s price movement without actually owning the stock. They are known for their potential for quick returns, hence the name “turbo”.
  • Commodities: Traders can also trade commodities on XM Trading. This includes goods like oil, gold, silver, and agricultural products.
  • Equity Indices: These are indices that measure the performance of a specific section of the stock market. Trading these indices allows investors to get exposure to large sections of the market without having to buy individual stocks.
  • Precious Metals: This includes trading assets like gold, silver, platinum, and palladium. These assets are often used as a hedge against inflation or economic downturn.
  • Energies: XM Trading allows traders to speculate on the price of various energy commodities, such as crude oil, natural gas, gasoline, and heating oil.
  • Shares: Traders can buy and sell shares of individual companies on XM Trading. This includes shares of large, well-known companies from around the world.

XM Bonus and Promotions

XM forex is a leading online trading platform that offers a variety of bonuses and promotions to its users. Here is a detailed expansion of each of these promotions:

  • 100% Deposit Bonus up to $500: As a user, whenever you make a deposit, XM matches your deposit amount by 100%, up to a maximum of $500. This means that if you deposit $500, you will get an additional $500 as a bonus, effectively doubling your initial deposit.
  • Refer a Friend: XM also offers a referral program where you can earn rewards by referring your friends to the platform. When your referred friend opens an account and starts trading, you get a referral bonus. The more friends you refer, the more bonuses you can earn.
  • XM Loyalty Program: As an XM user, you are automatically enrolled in the XM Loyalty Program. This program rewards you with points for every trade you make. These points can be converted into cash or trading bonuses.
  • FREE VPS Services: Virtual Private Server (VPS) services are essential for traders who want to ensure the most efficient and reliable trading experience. XM offers these services for free, allowing you to trade with minimal latency and no interruptions.
  • Zero Fees on Deposits & Withdrawals: XM is committed to making trading as cost-effective as possible for its users. As such, the platform does not charge any fees for deposits or withdrawals. This means that you can deposit and withdraw funds without having to worry about any additional charges.

All these promotions and bonuses are designed to make trading more rewarding for XM users. Whether you are a new or existing user, you can take advantage of these offers to maximize your trading potential.

XM Deposit Options

XM forex is a popular online trading platform that offers various deposit options for its users. Here are some of the options:

  • Credit/Debit Cards: XM accepts all major credit and debit cards, such as Visa, MasterCard, and Maestro. This is one of the quickest and most convenient ways to deposit funds into your XM account.
  • Electronic Payment Systems: XM also accepts deposits through various electronic payment systems, including Neteller, Skrill, and Webmoney. These platforms are secure and typically process transactions instantly.
  • Bank Wire Transfer: If users prefer, they can also deposit funds into their XM account through a bank wire transfer. This method is highly secure, but it usually takes longer to process than card payments or electronic payment systems.
  • Local Bank Transfer: In certain countries, XM also allows users to deposit funds through a local bank transfer. This is a secure method, and it usually takes less time to process than an international bank wire transfer.
  • Cryptocurrencies: Some XM platforms also accept deposits in various cryptocurrencies, including Bitcoin. This option is becoming increasingly popular due to the growing use of digital currencies.

Before making a deposit, XM users should check the platform’s deposit policies, including any fees that may apply and the minimum and maximum deposit amounts. It’s also important to note that the available deposit options may vary depending on the user’s country of residence.

XM Withdrawal Options

  • Credit/Debit Card: This is one of the most popular and efficient withdrawal methods. The processing time for this method is typically within 24 hours. However, it’s important to note that the card used for withdrawal must be the same one that was used for depositing funds.
  • Bank Wire Transfer: This option is also available for users who prefer direct transactions to their bank accounts. The processing time for bank wire transfers can vary but is typically between 2-5 business days.
  • Electronic Payment Systems: XM also offers withdrawal via various electronic payment systems such as Neteller, Skrill, and MuchBetter. The processing time for these methods is usually within 24 hours.
  • Local Bank Transfer: In some countries, XM provides the option of local bank transfer. This method can take between 2-5 business days to process.
  • XM Mastercard: XM also offers its own Mastercard to its clients, which can be used for withdrawals. The processing time for this method is typically within 24 hours.

It’s important to note that XM does not charge any withdrawal fees. However, the user’s bank or payment system may apply some charges. Also, the minimum withdrawal amount varies based on the withdrawal method chosen.

Before proceeding with any withdrawal, users must ensure that their account is fully verified to avoid any delays. This includes providing identification documents, proof of residence, and any additional documents required by XM.

Lastly, XM reserves the right to process a withdrawal back to the original deposit method. This means if a deposit was made via a specific method, the withdrawal will be processed back to that same method.

XM Trading Platforms

XM MT4 (MetaTrader 4)

XM broker was the first to offer an MT4 platform designed with a focus on trading execution quality. You can trade on MT4 without any requotes or rejections and enjoy a flexible leverage that ranges from 1:1 to 1000:1.

  •  Compatible with Expert Advisors, pre-set and tailored indicators.
  • Allows one-click trading.
  • Provides comprehensive technical analysis with more than 50 indicators and graphing tools
  • Offers built-in assistance for both MetaTrader 4 and MetaQuotes Language 4
  • Capable of managing a large volume of orders
  • Facilitates creation of multiple custom indicators and time frames
  • Includes history database management and historical data export/import functionality
  • Ensures full data backup and security
  • Features an internal mail system.

XM MT5 (MetaTrader 5)

The XM MT5 builds on the innovative features of the XM MT4, further enhancing its offerings with an additional 1000 CFDs on stocks (Shares). This makes it an optimal multi-asset platform. It allows for trading in Forex and CFDs on Stocks, Cryptocurrencies, Gold, Oil, and Equity Indices all on a single platform. There are no rejections or requotes and it offers a leverage of up to 1000:1.

  • The platform provides access to over 1000 instruments which include Stock CFDs, Stock Indices CFDs, Forex, Cryptocurrency CFDs, Precious Metals CFDs, and Energy CFDs.
  • Users can enjoy the convenience of single login access to 9 different platforms.
  • Offers low spreads starting from 0.6 pips, full EA functionality, and one-click trading.
  • It supports all types of orders and provides over 80 technical analysis objects.
  • Users can also observe the market depth of the latest price quotes and are allowed to hedge.

XM MT4 Multiterminal

The XM MT4 Multiterminal is the perfect tool for traders who wish to manage multiple MT4 accounts from one terminal effortlessly, using a single Master Login and Password.

  • You can have up to 10 standard accounts.
  • Various types of orders.
  • Three methods of allocation.
  • Real-time management and execution.

MT4 WebTrader

Easily accessible without any download for both PC and macOS users, featuring one-click trading, a selection of periods on the History tab, visible active orders on the chart, Close By and Multiple Close By trade requests, as well as editable properties of graphical objects.

    MT5 WebTrader

    The XM MT5 WebTrader, available for PC and Mac OS, allows instant access to the global markets without requiring any additional software downloads.

    • This includes over 1000 instruments such as Stock CFDs, Stock Indices CFDs, Forex, CFDs on Cryptocurrencies, Precious Metals, and Energies.
    • It provides the capability to trade through a web browser and supports one-click trading.
    • All types of trading orders are supported, and it also allows the editing of graphical object properties.

    XM Mobile Trading

    XM MetaTrader 4 App

    This is a native application for both iPhone and Android with full MT4 account functionality. It features three types of charts, 30 technical indicators, and a comprehensive trading history journal. It also includes a built-in news function with push notifications, as well as real-time interactive charts with zoom and scroll capabilities. The XM MT4 app is available in iOS and Android devices.

    XM MetaTrader 5 Mobile App

    This includes over 1000 instruments such as Stock CFDs, Stock Indices CFDs, Forex, CFDs on cryptocurrencies, precious metals and energies. It features a fully functional MT5 account and supports all trading order types on its 100% native iPhone and Android application. It also comes with built-in market analysis tools.

      XM App

      Trade in Forex, Cryptos CFDs, Commodities, Stocks, and more. Enjoy instant order execution and no re-quotes. Customize your account options within the app. Make deposits and withdrawals on your mobile. Access advanced and updated charts. Utilize over 90 trading indicators. Stay informed with the latest news, analysis, and market research. Compatible with both MT4 and MT5.

        Trading Conditions

        Order Execution Policy

        • 99.35% of all orders are executed in less than one second.
        • There is a strict policy against requotes and the use of a Virtual Dealer plug-in.
        • The policy assures a 100% execution rate, meaning there is no rejection of orders.
        • Orders are executed in real time with market execution.
        • Orders can be placed either online or over the phone.


        • Spreads as narrow as 0.6 pips on all major currency exchanges.
        • Over 1000 financial instruments available for trading.
        • No hidden charges when you trade with XM.
        • Lowest possible spreads available for all types of trading accounts.
        • Adheres to the Best Execution Policy.
        • Provides the advantage of fractional pip pricing.

        Margin & Leverage

        • Provide flexible leverage ranging from 1:1 to 1000:1
        • Includes features like negative balance protection
        • Real-time risk exposure monitoring
        • No margin changes overnight or during weekends.

        Overnight Positions

        • Competitive Swap Rates
        • Clear Swap Rates
        • Strategy for 3-Day Rollover
        • Adhering to Current Interest Rates

        Trading Hours

        • Online trading available 24 hours a day
        • Trading sessions run from 22:05 GMT on Sunday to 21:50 GMT on Friday
        • Access to real-time market information
        • Up-to-date financial news
        • Customer support available 24/7

        XM forex broker review

        Trading Tools

        Technical Indicators

        • Ribbon Indicator: This is a tool that uses moving averages of different lengths to create a ‘ribbon’ of moving averages on a price chart. It shows the direction of the trend and can also signal potential reversals. The Ribbon Indicator can help traders identify potential entry and exit points.
        • River Indicator: Also known as the Kijun-Sen, the River Indicator is a line that serves as a baseline for the Ichimoku cloud. It is used to measure medium-term trends. When prices are above the River Indicator, it’s considered a bullish signal, and when they’re below it, it’s a bearish signal.
        • Ichimoku Indicator: This is a comprehensive indicator that provides information about support and resistance levels, direction of the trend, and momentum. It consists of five lines: Tenkan-Sen, Kijun-Sen, Senkou Span A, Senkou Span B, and Chikou Span. The interaction between these lines provides trading signals.
        • Bollinger Bands Indicator: Bollinger Bands are a volatility indicator that creates a band of three lines. The middle line is a simple moving average, and the other two are standard deviations away from the moving average. When the price touches the upper band, it could be a sign that it is overbought, and when it touches the lower band, it could be a sign that it is oversold.
        • ADX and PSAR Indicator: The ADX (Average Directional Index) measures the strength of a trend while the PSAR (Parabolic Stop and Reverse) provides entry/exit signals. The ADX line helps traders to determine whether the market is trending or ranging while the PSAR spots potential reversals as the price crosses the PSAR dots.
        • Analyser Indicator: This tool helps traders analyze market conditions, detect trends, and generate trading signals. It can be customized to suit individual trading strategies and can be used on any market and time frame.

        MQL5 Trading Signals

        Trading signals from XM broker offer easy setup and usage with no installation required, as the service is integrated. It provides a broad range of signal providers to select from with no need for trader intervention. Trades are automatically copied and can be used together with Expert Advisors. The new generation cloud architecture reduces execution latency worldwide.

        Forex Calculators

        The XM online calculators provide clients the ability to make precise evaluations at the correct time to maximize their trades. The suite of calculators available, including the all-in-one calculator, the currency converter, the pip value calculator, the margin calculator, and the swaps calculator, aid in assessing your risk and tracking your profit or loss for every trade conducted.

        Research and Education

        • Live Education: This feature offers real-time learning experiences. It gives users the opportunity to interact, ask questions, and get immediate responses from experts. The live education sessions cover various topics, ensuring that users can find something that matches their interests and needs.
        • Educational Videos: These are pre-recorded videos that cover a wide array of topics. Users can watch these videos at their own pace and convenience. The videos are designed to be informative and easy to understand, making them suitable for both beginners and advanced learners.
        • Webinars: The platform hosts webinars where experts share their knowledge and insights on various topics. These webinars provide an opportunity for users to learn from the best in the field. They also offer the chance to participate in discussions and ask questions.
        • Platform Tutorials: These are step-by-step guides that show users how to use the platform effectively. They cover everything from basic navigation to the use of advanced features.
          Podcasts: These are audio programs that users can listen to whenever they want. They cover a variety of topics, making it easy for users to find something that interests them. The podcasts are also a great way to learn on the go, as they can be listened to while commuting, exercising, or during any other activity.
        • XM TV: This is a feature that offers live and recorded broadcasts. It provides users with a visual and auditory learning experience. The broadcasts cover a wide range of topics and are hosted by experts in the field.

        In conclusion, XM Research and Education is a platform that offers a wide range of learning resources, catering to different learning styles and preferences. It is a great tool for anyone looking to expand their knowledge and skills.

        XM Forex Review – Customer Support

        • Phone: +501 223-6696 | +501 227-9421 – Customers can call the XM Support hotline for immediate assistance. This is usually the quickest way to get a problem resolved.
        • Email: support@xm.com | Customers can also send an email to the XM Contact Support team. This is a good option if the problem is not urgent. The support team will typically respond within 24 hours.
        • Live Chat: XM broker also provides a live chat service on their website. This can be a quick and easy way to get help without having to make a phone call. The live chat service is typically available 24/7.

        IS XM Broker Legal?

        XM is a renowned and legally operating forex broker, recognized for its reliable and efficient services in the financial market. The broker offers a secure platform for trading a wide range of financial instruments, including forex pairs, stocks, commodities, and indices. XM’s legality and credibility are further affirmed by its transparency, customer-oriented approach, and robust security measures.


        XM Global Limited is registered under the Securities Industry Act 2021 (license number 000261/397) by the Financial Services Commission (FSC). On the other hand, Trading Point of Financial Instruments Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 120/10.

        XM is legal

        XM Broker Review – Conclusion

        In conclusion, XM forex broker is a reliable and well-regulated platform for online trading. It offers a wide range of trading instruments, multiple account types, and a user-friendly interface. With competitive spreads, flexible leverage and fast execution, it caters to both novice and experienced traders. Additionally, XM provides comprehensive educational resources and excellent customer support, making it a preferred choice for many forex traders worldwide.

        Check out our Binary Options Trading Review here.

        XM broker review