XM Overview
One of the industry leaders, XM Group is an established international investment firm offering the global markets in forex, Stock CFDs, commodities, equity indices, precious metals, energies, and shares using the full suite of MetaTrader platforms.
Know more about XM – its company legacy, competitive trading features and conditions, and other advantageous offers and services it has got for traders like you by leafing through this broker review in full.
XM Background & Safety
Founded in 2009, XM Group is considered as today’s one of the largest brokerage firms in the industry. XM Global Limited operates the official site: XM.com, the domicile of millions of traders worldwide. Today, XM has the strength in numbers as it has over 3.5 million traders from across 196 countries the firm covers worldwide.
The broker takes pride in accounting for more than 2, 400,000,000 no-rejections, no-requotes executed trades since it started operation more than a decade ago. With this big service coverage, the company currently employs more than 450 professionals, taking care of the firm’s over 30 language support for its customer service.
One thing worth mentioning about the broker’s way of service is its equal provision for all its clients, big and small, as all of them enjoy the same fair and ethical trading conditions. It also puts premium value on client safety, providing them with the Negative Balance Protection benefit. Its company principle is quite simple: client satisfaction is the key to earning their loyalty.
Laying down proof about the broker’s excellent trading services, here are some of many awards XM has won through its decade of service: “Most Reliable Broker – Global” and “Most Transparent broker – Global” by CFI.co 2020, “Best Online CFD & FX Trading Broker – Global” and “Best Customer Service Experience – Global” by Global Business Awards 2020, and “Best FX Broker, Europe” and Best FX Broker, Australasia by World Finance Awards 2020.
Lastly, XM is a multi-regulated broker, supervised and compliant with the International Financial Services Commission in Belize, the Australian Securities and Investments Commission, and the Cyprus Securities and Exchange Commission.
XM Features & Fees
Market Coverage
XM provides traders access to a range of over 55 currency pairs and CFDs on precious metals, energies, and equity indices. Roughly, XM holds over 1,000 tradable assets.
Account Types
Offering four account types, XM features exceptional trading account conditions – with the same execution quality for all account types.
Micro Account asks for a $5 minimum initial deposit which will leverage users with zero commissions, use of hedging strategy, minimum trade volume of 0.01/0.1 lots, maximum trade size of 100 lots, 1 pips spread, and up to 1:888 leverage.
Standard Account also has a $5 minimum initial deposit to open the set of trading conditions including zero commissions, use of hedging strategy, minimum trade volume of 0.1 lots, maximum trade size of 50 lots, 1 pips spread, and up to 1:888 leverage.
XM Ultra Low Account requires users to deposit a minimum of $50 to trade with zero commissions, use of hedging strategy, minimum trade volume of 0.01/0.1 lots, maximum trade size of 50/100 lots, 0.6 pips spread, and up to 1:888 leverage.
Shares Account is different from the rest. Having a minimum initial deposit of $10,000, users are dealing with 1 share contract size, no leverage, varying spreads, commission fees, minimum trade volume of 1 lots, and no hedging.
All account types have access to Islamic account conversion, Negative Balance Protection benefit, and a personal account manager.
Funding Methods
XM facilitates an array of inexpensive, convenient funding methods for its clients. The broker has 11 account base currencies, one of the largest in the industry, saving its clients from conversion fees.
The broker accepts deposits and withdrawals via bank transfers, credit/debit cards, and online payment systems. XM has no deposit and withdrawal fees except for bank transfer withdrawal which incurs $15.
Promotions
A plethora of bonuses and perks await XM traders as the broker offers $30 Trading Bonus, 50% Deposit Bonus, Ber Months Promotion, Exclusive Webinar, Refer a Friend, XM Loyalty Program, and free VPS Services.
XM Trading Platforms & Tools
XM is a MetaTrader-only broker, offering the full suite MetaTrader platforms in 16 versions. MetaTrader 4 and MetaTrader 5 are available across devices including PC, Mac, tablet, iPhone, iPad, and Android. Both MT4 and MT5 have a MultiTerminal version to access multiple accounts in 1 terminal.
XM’s platform offering is pretty decent, being fully-customizable. However, the platform interface looks traditional and some features are not easy to find.
The mobile platform supports several languages. It has a user-friendly design and features are all readily available.
Bottom Line
XM is a reputable brokerage firm with a rich brokerage service legacy. It provides more than one thousand tradable assets and Negative Balance Protection. Traders are also treated with market-leading promotions and perks. It also hosts extensive educational materials for traders.
Looking for some additions, XM can add cryptocurrency trading to its marker offering, its own proprietary trading platform, and tighter spreads across all account types.
