What is XM.com?

XM is a forex broker company that was initiated in Cyprus, in 2009. It provides its services to over 196 countries, with the added bonus of its customer service speaking in 30 languages. XM has been fully functioning since 2009 and has continued its rise to success ever since.

XM has clients from over 196 countries and supports more than 30 languages. The main branch is located in Cyprus, and it operates other offices across Australia, UK, Belize, and Greece.

According to our XM review, one of the various reasons that XM has been successful is that in the brokerage industry is because of its attention to detail and client needs.

The brokerage company, XM, is well-known for its focus on customer needs, which comforts the clients in the safety of opening a public account.

In this XM review, we will focus on the main features and elements of the XM brand.

XM Main Features
Established in:
Country of regulation:
Cyprus, Australia, Belize
Minimum Deposit:
MT4, MT5, XM WebTrader
Demo Account Available:
Withdrawal fee amount:
Inactivity Fee:
Trading Instruments:
Forex Trading; Stock CFDs; Commodities; Equity Indices; Precious Metals; Energies; Shares


  • Licensed and Regulated by CySEC, ASIC, and the IFSC
  • Easy and Convenient in Opening an Account
  • No Re-Quotes and Tight Spreads Available
  • Over 55 different currency pairs available


  • Does Not Have a Banking License
  • Increased Spreads on Standard and Micro Accounts
  • Does Not Provide a 247 Customer Service Support

icon regulations Safety and Regulation


  • Licensed and Regulated by CySEC, ASIC, and the IFSC
  • Easy and Convenient in Opening an Account
  • Holds Clients Funds in Segregated Accounts
  • No Re-Quotes and Tight Spreads Available
  • Over 55 different currency pairs available


  • Does Not Have a Banking License
  • Increased Spreads on Standard and Micro Accounts
  • Does Not Provide a 247 Customer Service Support

Is it Safe or a Scam?

It is a very common question to ask if XM is safe or a scam, for a public account. The answer is yes, it is certifiably safe to trade with this broker. XM  is rewarded with global recognition and reputable awards for its achievements in the brokerage industry and its highly regarded trading aspects.

XM started out as a company called Trading Point Holdings, which was established in 2009. This shows that XM comes from a long line of brokering experience since they have managed to stay afloat throughout the various financial storms that took place throughout the years.


XM Licenses and Regulation

XM holds multiple trading licenses such as CySEC, ASIC, and IFSC. The Cyprus Securities and Exchange Commission (CySEC) is necessary, due to its headquarters being in Cyprus. XM is fully compliant with the Markets in Financial Instruments Directive (MiFID) of the European Union, which makes the company completely safe and secure for the clients in the European Union.


How are you protected?

With XM, there are several forms of protection for client information and funds. They provide negative balance protection for CFD and Spot Trading clients of the European Union. Along with that layer of protection, in accordance with the financial regulations they are registered under, all client funds are stored in segregated accounts, away from the corporate funds of the company account.


XM Awards

Overall, XM has achieved to create a client-centric culture and manages to offer very competitive trading conditions. Apart from its highly good results and reputation among the trading community, XM received many reputable awards for industry achievements including Best Forex Broker for Europe and Most Trusted Broker. More information can be found on XM’s website.

icon fees XM Fees


  • No Withdrawal Fee
  • No Deposit Fee
  • No Account Fees


  • Inactivity Fee After 90 Days
  • Relatively Average Forex Fees for Standard and Micro Account

XM Inactivity Fees

XM does not require an inactivity fee per month, which means that traders do not have to worry about being charged until they are inactive for a period of 90 days. However, traders have to consider that the trading fees are relatively average.

XM has offered clients no inactivity fees per month, charging only after 90 days, and there is no deposit fee! This indicates that you can create an open account without any fiscal accountability.

This is considered a huge benefit for XM clients, since they don’t have to worry about the consequences that follow when they want to open or close their account. However, there are serious trading conditions that follow opening a trading account with this broker.


XM Trading Fees and Spreads

XM provides variable spreads, similar to that of the Interbank Forex Market. The spreads do not apply any restrictions on trading processes during press releases on the industry. For trading clients, they benefit a lot from these conditions, as fixed spreads are higher and they consist of more flexibility than other distinguished trading strategies.

There are different types of fees that are provided for each account type. The inactivity fee is charged after ninety days, and it is relatively low, with a fee of 5USD. For the EURUSD asset, it is a relatively average fee, depending on your account type.

For Micro and Standard Accounts, the fees are incorporated into the spread, with 1.7 pips as the cost of spread. When it comes to XM Zero Account, there is a 3.5USD commission for each 100,000 USD traded and an average spread of 0.1 pips.

All trading costs and fiscal responsibilities are available in spread with no hidden fee, which highlights XM and its transparency towards its clients. The trading fees and conditions of XM define its reputation in the brokerage industry, as well as its public status towards clients.


XM Overnight Fees

XM also offers an overnight fee, the fee that a trading client has to financially compensate as a contingency when the position is available longer than a day and it is possible for a swap contract that occurs as a cost for traders. This gives XM the opportunity for clients to keep their status for more than the allotted hours that are commonly provided.

According to our research in comparison with other Forex brokers, there are differences in the trading fees between XM Group and other competitors.

Fees between Competitors and XM Group
Brokers XM eToro AvaTrade XTB
Account Fee No No No No
Inactivity Fee Yes Yes Yes No
Deposit Fee $0 $0 $0 $0
Withdrawal Fee $0 $25 $0 $0

icon account openingAccount Opening

With XM, there are many perks in opening an account, but the most important benefit for any trader is that traders are welcome to opening an account, without facing any trouble whatsoever.
Minimum deposits for each account
Micro Account $5
Standard Account $5
XM Ultra low account $50
XM Zero Account $100
Shares Account $10 000


XM Account Types

There are four main trading accounts for traders to choose from, with different perks and different features that are standardized based on the trader’s preference. Along with the four trading accounts, there is always the possibility of using a Demo Account to get you started.

XM Group offers its clients 4 types of account with low spreads and a level of maximum leverage that can reach the 1:30:

  • MICRO Account
  • STANDARD Account
  • ZERO Account
  • ULTRA LOW Account

The MICRO account allows you to operate with micro lots, a lower level of risk and it has a minimum initial deposit of $5.

The STANDARD account allows you to operate with standard lots and it has a minimum initial deposit of $5.

The XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips, and has a minimum initial deposit of $100. XM ZERO account has a $3.5 commission per $100,000 traded.

Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips, and has a minimum initial deposit of $50.

* XM Ultra Low and XM Zero accounts are not available to all entities of the Group

XM Islamic or Swap Free Account

The trading accounts of XM, such as Standard, Micro and XM Zero accounts, all contain characteristics that can be customized to each clients needs.

Each of the three accounts, based on a client’s requests, can be applied to an Islamic, or otherwise know as swap free, account. This shows that there is no swap interest and the Islamic account is applicable for any client that follows the Shariah laws.

Opening an XM trading account can be done digitally, with no delay, and on the same day as you apply. All you need is to fill out the application, by choosing the language that you prefer.

The languages available are: English, Arabic, Bengali, Chinese, Czech, Dutch, Filipino, French, German, Greek, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Vietnamese.

Once you do, you will need to fill out the information required in the online application.


How to Open Xm Account Step by Step Guide


Fill out your name, email address, telephone number, and country of residence. Put in your personal information, mostly your date of birth and current address.


XM Group will define the trading account and the regulations you will follow and abide by.


Choose the trading platform that you prefer and the type of account you want to use from now on.

You will need to provide your financial information, which includes your deposit and withdrawal method options, and you will need to answer several questions about your financial background and knowledge. XM wants to make sure you understand the risks and benefits of trading, before entering into an account.
You will need to verify your identity, with a form of identification, and proof of residency. In order to verify your identity, you will need to upload a copy of any form of identification such as: ID, passport, andor driver’s license. As for the proof of residency, bank statements and bills are accepted as proof of your current residence.

icon deposit withdrawal 1 Deposit and Withdrawal

XM Group has many withdrawal and deposit options that are quick and painless, making the process hassle-free and less burdening on the trader. They also do not provide any deposit or withdrawal fees, so you do not have to worry about that.


  • No deposit fees
  • No withdrawal fees
  • Free wire withdrawal above the amount of 200USD
  • Many options for withdrawal and deposit


  • Wire transfers below 200USD charge a 15USD fee

XM Withdrawal Options

  •  Bank Wire Transfer
  •  Credit / Debit Card
  •  Electronic wallets

XM Deposit Options

  •  Bank Wire Transfer
  •  Credit / Debit Card
  •  Electronic wallets

icon trading platforms Trading Platforms

XM has 3 trading platforms that will be reviewed below.
Web Trading Platform
Web Trading Platform XM


  • Customizable selection of options
  • Clear fee report


  • Design is outdated and obsolete
  • No alerts or notifications on changes of prices
XM offers MetaTrader for their web trading platform, which is customizable and completely up to the trader’s preference. However, you will find that the design of the web trading platform is obsolete and there are no alerts or notifications on changes of price

To place an order, you can be able to use any or all types of basic order types. There are all fairly simple, and the order types that are available are: market, limit, and stop. You can also place the order time limits of: Good Til Time (GTT), and Good Til Cancelled (GTC).

You can also see your profit-loss balance, and all the commissions you have paid. This can be found under the “History” tab, which provides all the information needed in your portfolio.

With XM web trading platform, there is a two-step verification process, for security measures, in order to login on the website where you can deposit and withdraw funds. However, the trading platform of MetaTrader itself does not have a two-step verification process.

For notifications and alerts, there are no alerts on price changes in the XM web trading platform. This particular option is only available on the desktop trading platform.

The MetaTrader web trading platform is very susceptible to customizing the platform to your choosing, you can be able to customize it as you please, and that is despite the fact that its design is a bit obsolete. You will be able to use their search functions well, which are grouped into several classifications.

XM has provided traders with web trading platforms such as: MT4, MT5, and Webtrader.

Desktop Trading Platform
Web Trading Platform XM


  • Price alerts
  • Customizable options selected by trader’s selection


  • Obsolete design
XM provides MetaTrader for desktop trading platform, where it is very similar to the web trading platform. The only major discrepancy is that you will be alerted to any price changes.

There is no difference between the MT4 and MT5 web trading platform and the desktop trading platform. Both types of trading platforms have the same designs, the same languages, and you can place the same order types.

The basic order types are: Market, Stop, and Loss. The desktop trading platform also provides the same order time limits of GTT and GTC, even the same search engine functions.

You can also look through your past commissions, fee reports, and portfolio history. It also does not require a two-step authentication process, but the website of XM does.

The MetaTrader desktop trading platform is very similar to that of the web trading platform, but there is one major perk and one drawback to the desktop trading platform. The main difference between the desktop and the web trading platform is that you can set alerts on price changes on the desktop trading platform, in the form of email notifications or mobile push alerts.

The main drawback to the desktop trading platform is that it could improve its search functions to match the web trading platform.

Mobile Trading Platform
XM Mobile Trading Platform


  • User-Friendly
  • Great Search Function
  • Alerts are possible for price changes


  • Confirmation on orders are unavailable
  • No Face recognition login
XM is exceptionally known for its mobile trading platform, for MT4. If you’re interested in convenient forms of trading and user-friendly platforms, then you should really consider using the MT4 mobile trading platform.

There are two types of trading platforms that offer mobile services, MetaTrader4 and MetaTrader5. There are many languages that are available for you to choose from, so you do not have to worry about not finding the right one.

With the XM MT4 mobile trading platform, it is very user-friendly and you will be able to find all of the features easily. You will not need to go through a two-step verification process, but you will need to go through a two-step login process, for safety measures. Because of the two-step login, you will not be able to find the Face Recognition feature useful.

Along with the web trading platform and the desktop trading platform, you will find the same order types available for you. These basic order types include: market, stop, and loss. There is also the order time limit of Good Til Cancelled (GTC), and Good Til Time (GTT).

With the mobile trading platform, you will be able to put alerts on your cellular device, which is considered easier than that of the desktop trading platform option.

icon instruments 1 Markets and Financial Instruments

XM is a CFD and forex broker with a high measure of currency pairs offered. You can exchange cryptos, forex and CFDs.

XM has more than a total of 1000 financial instruments which can be traded on the MetaTrader 4 and MetaTrader 5 platforms. This does include Forex Trading, Commodities CFDs, Stocks CFDs, Precious Metals CFDs, Equity Indices CFDs and Energies CFDs.

XM does not offer binary options or future and Forex trading is available on over 55 pairs, including the major EUR, USD, JPY, and GBP sets.

Product selection for XM 
Currency pairs57
Stock index CFDs18
Commodity CFDs15
Stock CFDs1,200

icon tools Market Research and Trading Tools

With this XM review, we want to show you all the additional features and options that make XM so appealing. One of the main points is the extensive research materials they have that are for your leisure.

Trading ideas are a new hit at XM, since it is one of the most recent extensions to the website and trading platform. Trading ideas give traders the idea of where to invest next, showing you different symbols, what was the last direction they moved in (up or down), and when did the last position take place.

Another research material is the thirty-one different charting tools that XM Group provides for their traders. These charting tools can also be found on the MetaTrader trading platform too. These charting tools are a bit old-fashioned, but still helpful for traders when they need it.
The final research material is the news feed, with live updates on the trading industry. They offer the ability for you to read and watch all the possible news pieces that are relevant to you. They also offer an accurate economic calendar, where it is constantly updated with any live changes in the trading industry.
XM provides a news feed section with the latest updates, which are categorized into different elements.

icon customer service 1 Customer Service

There are different forms of contacting XM: through live chat, through a simple phone call, and they even provided their address for any inquiries at No.5 Cork Street, Belize City, Belize, C.A.


  • Different Methods of Customer Support
  • Phone Support Available
  • Live Chat Available
  • Email Available
  • Customer Service Available in Different Languages


  • Customer Service is not available 24\\7; only 24\\5
  • Multiple Questions Decreases Fast Response on Live Chat
Traders can reach the XM customer support service 24 hours a day, five days a week, GMT time. As an added bonus, the customer service support provides over 30 languages, so there would not be any language barrier throughout the interaction.
Traders Can Communicate With XM Group Through:
  • Email
  • Live Chat
  • Phone Call

icon client education Client Education

There are many forms of educational resources with XM; they make sure not to leave any rock unturned. They also appeal to the traders who need visual aid to learn, or prefer reading through the information they need.

XM Group has a one-of-a-kind educational resource, which is XM Live. They offer a podcast for traders to listen through, where you can learn about their products and if you have any trading-related questions, they will answer you! XM Live also provides daily competitions where you can win prizes. The podcast is in English, Monday to Fridays, from 4PM to 5PM GMT.

XM provides live webinars and educational videos that will give you all the guidelines and instructions you need to understand the trading service provider and how it works. Most of their educational content is through videos, which makes it easier to learn and keep track of.

XM Learning Tools
You will be to find all of their educational resources under the tab, “Learning Center”.
  • XM Live
  • Live Education
  • Educational Videos
  • Forex Webinar
  • Platform Tutorials
  • Forex Seminars
  • Demo Account
The biggest perk of XM is that they provide a Demo Account for new traders to use, in order to try out the broker and its services. The Demo Account is a virtual account that allows new traders who are uncertain of whether they should trade with XM, try out the broker and see what it’s like. With virtual funds of 100,000USD for traders to use as part of the simulation, they will be able to understand how XM works without facing any financial loss.

icon conclusion Conclusion

In conclusion, XM is considered a well-known and established brokerage firm with global recognition with a top-notch reputation. XM is found to be a safe brokerage firm because of its transparency towards clients and its intensely customer friendly services.

XM will aid the client in finding their preferences and tailor it to their needs. The customer support officers are very attentive and they have a hands-on approach to their clients. Their target audiences are new and experienced traders, so they are flexible in dealing with any form of clients.

The benefits of XM are that they appreciate the human touch, when it comes to brokerage services. They are considered a safe and transparent brokerage firm that is approved, with multiple licenses.

There are no deposit and withdrawal fees, but there is a minimum deposit amount of 5USD. An added bonus is that transfer fees are paid by XM; they also give the option for traders to fund their accounts through their local banks.

Min. Deposit
*Not eligible for EU clients
Regulated byCySEC, ASIC, IFSC
Customer Support24/5
Open Account


Frequently Asked Questions
XM Group is a good broker, one of the best of 2020. Since they are regulated by three top-tier financial regulatory agencies, they are very trustworthy and they have an eye of paying attention to what their traders want.
With XM Group, there are no deposit fees and no withdrawal fees either.
XM Zero Account is an account that is available for EEA residents only, with a minimum deposit of 100USD. It provides tighter spreads, and allows traders to trade with 56 currency pairs. You can be able to maintain your Micro or Standard Account, and open an additional Zero Account.
There are no withdrawal fees with XM Group. The only exception is when a bank wire transfer below 200USD takes place, there is a 15USD charged fee.
XM Group is regulated by and registered under three financial regulators: Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC).
XM offers an excellent customer support service that is available for 24 hours a day5 days a week, with the option of over thirty different languages. You can contact XM’s customer service through live chat, a phone call, or through email. They also offer their registered address, which can be found on their website, or at No.5 Cork Street, Belize City, Belize, C.A
Yes, traders from South Africa are welcomed to open an XM Account.

XM Group is considered to be a top-tier trading platform since it is regulated by three of the best financial regulators: IFSC in Belize, ASIC in Australia, and CySEC in Cyprus.

In accordance with these regulations, they store client funds under segregated accounts away from corporate funds, and they provide negative balance protection for EU residents.

With XM Micro and Standard Account, there are no commissions charged. However, with the Zero Account, it offers tighter spread but there are commissions charged.
XM Group is a Forex brokerage service provider that was established in 2009, in Cyprus. The mother company of XM is Trading Point Holdings, which is considered a household name in the trading industry. XM provides trading services for traders almost all over the world, and are known for their prestigious awards. These awards include: Best FX Service Provider in 2019, and Best Customer Service Provider in 2019.
In order to open an account with XM, you will need to fill out the online application, which is digital and fast-paced. The information needed is your name, country of residence, email address and telephone number. You will need to choose the type of account and trading platform, then your personal information. You will then select your base currency and your leverage level. You will be asked to provide your financial information, answer various questions on your financial knowledge, and verify your identity and place of residency. Once you’re done with uploading the corresponding documents, then you’re good to go!

You can withdraw the profits made from the XM bonus, but you cannot withdraw the bonus amount itself.


With XM, you can withdraw funds from your account via credit/debit card in two business days. However, you can only withdraw funds to accounts under your name and no one else’s, for safety purposes.

The XM Ultra Low Standard Account is an account that is available for Australian and international residents, with a minimum deposit fee of 50USD. The XM Ultra Low Standard Account consists of 1 standard lot is 100,000 units of the base currency.

XM Overall Performance

  • Safety and Regulation 99% 99%
  • Deposit and Withdrawal 97% 97%
  • Market Research and Trading Tools 100% 100%
  • Broker Fees 98% 98%
  • Trading Platforms 100% 100%
  • Customer Service 100% 100%
  • Account Opening 100% 100%
  • Market and Financial Instruments 100% 100%
  • Client Education 100% 100%