Choosing the right broker is crucial for your trading success. In this XM Broker Review, we’ll examine this established global broker that has served over 15 million clients since 2009. With multiple regulatory licenses, competitive trading conditions, and a strong educational offering, XM has positioned itself as a popular choice for traders of all experience levels. We’ll analyze their account types, trading platforms, fees, customer support, and more to help you determine if XM is the right broker for your trading journey.
XM Broker Overview
Founded in 2009, XM Group (Trading Point of Financial Instruments Ltd) has established itself as a global forex and CFD broker with over 15 million clients from 190+ countries. The broker offers trading on forex, stocks, commodities, indices, and cryptocurrencies through the popular MetaTrader platforms.
Regulation and Security
XM operates through several regulated entities worldwide, providing different levels of protection depending on your region:
- Cyprus Securities and Exchange Commission (CySEC) – License #120/10
- Financial Services Commission (FSC) of Belize – License #000261/27
- Dubai Financial Services Authority (DFSA) – License #F003484
- Financial Sector Conduct Authority (FSCA) of South Africa – License #49976
- Financial Services Authority (FSA) of Seychelles – License #SD190
Clients under CySEC regulation benefit from the Investor Compensation Fund, which provides protection up to €20,000. All XM clients receive negative balance protection, ensuring you cannot lose more than your deposited funds.
Ready to Trade with a Regulated Broker?
XM offers multi-tier regulation and protection for traders worldwide.
XM Account Types
XM offers several account types to accommodate different trading styles and experience levels. Each account has its own features, minimum deposit requirements, and trading conditions.
| Feature | Micro Account | Standard Account | Ultra Low Account | XM Zero Account | Shares Account |
| Minimum Deposit | $5 | $5 | $5 | $5 | $10,000 |
| Spreads (EUR/USD) | 1.6 pips+ | 1.6 pips+ | 0.8 pips+ | 0.0 pips+ | N/A |
| Commission | No | No | No | $3.5 per lot | Yes |
| Lot Size | 1,000 units | 100,000 units | 100,000 units | 100,000 units | 1 share |
| Max Leverage | Up to 1:1000* | Up to 1:1000* | Up to 1:1000* | Up to 1:1000* | No leverage |
| Base Currencies | 11 options | 11 options | 11 options | USD, EUR, JPY | USD |
*Maximum leverage varies by regulatory jurisdiction: CySEC (EU) – 1:30, FSC (Belize) – 1:1000
Micro Account
The Micro Account is ideal for beginners with its low $5 minimum deposit and smaller contract sizes (1,000 units per lot). This means when trading 1 lot of EUR/USD, each pip movement is worth only $0.10, allowing new traders to practice with minimal risk.
Standard Account
XM’s Standard Account also requires just a $5 minimum deposit but uses standard lot sizes (100,000 units). This account offers the same spreads as the Micro Account but with larger position sizes, making it suitable for more experienced traders.
Ultra Low Account
The Ultra Low Account features tighter spreads starting from 0.8 pips on major pairs like EUR/USD. With the same $5 minimum deposit requirement, this account is perfect for high-volume traders looking to minimize trading costs.
XM Zero Account
For traders prioritizing the tightest spreads, the XM Zero Account offers spreads starting from 0 pips on major pairs with a commission of $3.5 per lot per side. This account requires a $5 minimum deposit but is limited to USD, EUR, and JPY base currencies.
Shares Account
Available only through XM Global Limited (Belize regulation), the Shares Account allows direct trading of physical shares rather than CFDs. This account requires a substantial $10,000 minimum deposit and is only available in USD.
Islamic (Swap-Free) Account
XM offers swap-free accounts for Muslim traders in compliance with Sharia law. These accounts have no overnight interest charges and maintain the same spreads as standard accounts without additional fees.
Find the Right Account for Your Trading Style
Start with just $5 and choose from multiple account types to match your trading needs.
XM Trading Platforms
XM provides traders with access to the industry-standard MetaTrader platforms across desktop, web, and mobile devices.
MetaTrader 4 (MT4)
The industry-standard MT4 platform offers:
- User-friendly interface ideal for beginners
- Advanced charting with 30 built-in indicators
- 9 timeframes for technical analysis
- Support for Expert Advisors (EAs) for automated trading
- Available on Windows, Mac, web browsers, and mobile devices
MetaTrader 5 (MT5)
The upgraded MT5 platform provides enhanced features:
- 21 timeframes (compared to MT4’s 9)
- 38 built-in technical indicators
- Improved backtesting capabilities
- Economic calendar integration
- Access to more markets, including direct share trading
- Available on Windows, Mac, web browsers, and mobile devices
Mobile Trading
XM offers mobile trading through the MT4 and MT5 apps for iOS and Android devices. These apps provide:
MT4 Mobile Features
- Real-time quotes and charts
- 30 technical indicators
- Full trading functionality
- Push notifications
- Chat with customer support
MT5 Mobile Features
- Enhanced charting capabilities
- 38 technical indicators
- Economic calendar
- More order types
- Improved market depth
Trading Tools
XM enhances the trading experience with several proprietary and third-party tools:
- Trading Central: Professional technical analysis and trading signals
- Economic Calendar: Real-time economic news and events
- Technical Indicators: Custom indicators for MT4/MT5
- XM TV: Daily market analysis videos
- Market Research: Daily technical analysis and market commentary
Experience Advanced Trading Platforms
Access MT4 and MT5 with XM’s enhanced features and tools.
XM Fees and Spreads
Understanding the cost structure is essential when choosing a broker. XM offers competitive spreads and transparent fee policies across its account types.
Spreads
XM offers variable spreads that differ by account type:
| Currency Pair | Micro/Standard Account | Ultra Low Account | XM Zero Account |
| EUR/USD | 1.6 pips | 0.8 pips | 0.0 pips + $3.5 commission |
| GBP/USD | 1.8 pips | 0.8 pips | 0.9 pips + $3.5 commission |
| USD/JPY | 1.6 pips | 0.8 pips | 0.2 pips + $3.5 commission |
| AUD/USD | 1.8 pips | 1.3 pips | 0.8 pips + $3.5 commission |
| USD/CHF | 1.8 pips | 1.1 pips | 1.2 pips + $3.5 commission |
Commissions
Most XM accounts (Micro, Standard, Ultra Low) are commission-free, with costs built into the spread. The XM Zero Account charges a commission of $3.5 per standard lot (100,000 units) per side, meaning a round-trip trade costs $7 in commission.
For the Shares Account, commissions vary by market:
- US shares: $0.04 per share (minimum $1 per transaction)
- UK shares: 0.10% commission (minimum $9 per transaction)
- German shares: 0.10% commission (minimum $5 per transaction)
Overnight Financing (Swaps)
When positions are held overnight, XM charges or pays swap rates based on the interest rate differential between the two currencies in a pair. XM applies its markup to these rates: +0.5% for long positions and -1.5% for short positions.
Non-Trading Fees
| Fee Type | Amount | Notes |
| Deposit Fees | $0 | XM covers all deposit fees regardless of method |
| Withdrawal Fees | $0 | Free for most methods; wire transfers under $200 incur a $15 fee |
| Inactivity Fee | $15 initial, then $10 monthly | Applied after 90 days of inactivity |
| Currency Conversion | Varies | Applied when depositing in a currency different from your account base currency |
Trading Instruments
XM offers a diverse range of trading instruments across multiple asset classes, allowing traders to diversify their portfolios.
| Asset Class | Number of Instruments | Leverage (Max)* | Minimum Spread |
| Forex | 55+ pairs | 1:1000 | 0.0 pips (Zero Account) |
| Stock CFDs | 1,200+ | 1:5 | Varies by stock |
| Indices | 20+ | 1:200 | From 0.5 points |
| Commodities | 15+ | 1:50 | From 1.7 pips |
| Precious Metals | 5+ | 1:400 | From 1.7 pips |
| Energies | 5+ | 1:200 | From 3 ticks |
| Cryptocurrencies | 20+ | 1:500 | Varies by crypto |
| Shares (Physical) | 100+ | No leverage | Exchange spread |
*Maximum leverage varies by regulatory jurisdiction. EU clients under CySEC regulation are limited to 1:30 for forex.
XM does not offer trading on ETFs, bonds, or options, which may be a limitation for traders looking for these specific instruments.
Deposits and Withdrawals
XM offers a variety of payment methods with no fees on deposits and most withdrawals.
Deposit Methods
XM accepts deposits through multiple channels with no fees:
- Credit/Debit Cards: Instant processing, no fees
- E-Wallets: Skrill, Neteller, and others with instant processing
- Bank Transfers: Processing time 1-5 business days, no fees
- Local Payment Methods: Various options depending on your region
The minimum deposit is just $5 for most account types, except for the Shares Account which requires $10,000.
Withdrawal Methods
XM processes all withdrawal requests within 24 hours:
- Credit/Debit Cards: 2-5 business days, no fees
- E-Wallets: Same-day processing, no fees
- Bank Transfers: 2-5 business days, free for amounts over $200 (otherwise $15 fee)
In line with anti-money laundering regulations, XM follows a “return to source” policy, meaning withdrawals must be processed back to the original funding source up to the amount deposited.
Customer Support
XM offers comprehensive customer support in over 30 languages, available 24/5 through multiple channels.
Support Channels
- Live Chat: Available 24/5 with quick response times
- Email Support: Responses typically within 24 hours
- Phone Support: Multiple international numbers available
- Messaging Apps: WhatsApp, Telegram, Line, and Viber support
- Personal Account Managers: Assigned to all clients
Multilingual Support
XM’s support team can assist in over 30 languages, including English, Arabic, Chinese, Spanish, Russian, Indonesian, and many more. This multilingual approach ensures traders from around the world can receive assistance in their preferred language.
Education and Research
XM offers extensive educational resources and market research tools to help traders develop their skills and make informed decisions.
Educational Resources
- Video Tutorials: Comprehensive lessons on trading basics, technical analysis, and platform usage
- Webinars: Live sessions in 19 languages covering various trading topics
- XM Live: Interactive educational sessions for beginners and advanced traders
- Trading Guides: Written materials on trading strategies and market analysis
- Glossary: Comprehensive dictionary of trading terms
Research Tools
- Economic Calendar: Real-time updates on market-moving events
- Market Research: Daily technical analysis and market commentary
- XM TV: Video analysis of current market conditions
- Trading Central: Professional technical analysis and trading signals
- Technical Summaries: Automated analysis of various instruments
Enhance Your Trading Knowledge
Access XM’s comprehensive educational resources and research tools.
XM Broker Pros and Cons
Based on our comprehensive review, here are the main advantages and disadvantages of trading with XM:
Advantages
- Low minimum deposit of just $5 for most accounts
- Multi-tier regulation across several jurisdictions
- Negative balance protection for all clients
- No fees on deposits and most withdrawals
- Excellent educational resources and research tools
- Multilingual customer support in 30+ languages
- Multiple account types to suit different trading styles
- Access to both MT4 and MT5 platforms
- Competitive spreads, especially on Ultra Low and Zero accounts
Disadvantages
- Limited leverage (1:30) for EU clients under CySEC regulation
- Wider spreads on Standard and Micro accounts compared to competitors
- No ETFs, bonds, or options available for trading
- Inactivity fee applies after just 90 days
- No STP or ECN execution models available
- Limited platform options (only MT4 and MT5)
- Wire transfer withdrawals under $200 incur a $15 fee
- Shares Account requires a high minimum deposit of $10,000
User Testimonials
Here’s what real traders are saying about their experience with XM:
Frequently Asked Questions
Is XM a regulated broker?
Yes, XM is regulated by multiple financial authorities worldwide, including the Cyprus Securities and Exchange Commission (CySEC), Financial Services Commission (FSC) of Belize, Dubai Financial Services Authority (DFSA), and Financial Sector Conduct Authority (FSCA) of South Africa. The level of protection varies depending on which entity you open an account with.
What is the minimum deposit at XM?
The minimum deposit at XM is for most account types (Micro, Standard, Ultra Low, and Zero). The Shares Account requires a minimum deposit of ,000.
Does XM offer negative balance protection?
Yes, XM offers negative balance protection to all clients regardless of regulatory jurisdiction. This means you cannot lose more than the funds deposited in your trading account.
What leverage does XM offer?
XM’s maximum leverage varies by regulatory jurisdiction. Clients under CySEC regulation (EU) are limited to 1:30 for forex, while clients under FSC regulation (Belize) can access leverage up to 1:1000. Leverage limits also vary by instrument type.
Are there any withdrawal fees at XM?
XM does not charge withdrawal fees for most methods. The only exception is for bank wire transfers under 0, which incur a fee. All withdrawal requests are processed within 24 hours.
Can I open an Islamic (swap-free) account with XM?
Yes, XM offers Islamic (swap-free) accounts that comply with Sharia law. These accounts have no overnight interest charges and maintain the same spreads as standard accounts without additional fees.
XM Broker Review: Final Verdict
XM has established itself as a reputable global broker with a strong regulatory framework, competitive trading conditions, and excellent educational resources. The broker’s low minimum deposit of $5 makes it accessible to beginners, while the variety of account types caters to traders of all experience levels.
Who is XM Best For?
Beginner Traders
XM is excellent for beginners due to its low $5 minimum deposit, Micro accounts with smaller position sizes, extensive educational resources, and responsive customer support in multiple languages.
Intermediate Traders
Intermediate traders will appreciate XM’s Ultra Low accounts with competitive spreads, quality research tools, variety of trading instruments, and solid execution with no requotes.
Advanced Traders
Advanced traders may find XM’s Zero accounts with tight spreads and commission-based pricing attractive, though they might be limited by the lack of advanced platform options beyond MT4/MT5.
Ready to Start Trading with XM?
Open an account with just $5 and experience XM’s competitive trading conditions, multiple account types, and excellent support.
