Founded in :  2009

Headquarters : Cyprus, Australia, Belize

Regulation : CySEC, ASIC, IFSC

 

Platforms : MT4, MT5, XM WebTrader

Leverage : 1:30

Minimum Deposit : USD$5

 

Summary of XM Group

XM Group is a 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 Group has been fully functioning since 2009 and has continued its rise to success ever since.

One of the various reasons that XM Group has been successful in the brokerage industry is because of its attention to detail and client needs. The brokerage company, XM Group, is well-known for its focus on customer needs, which comforts the clients in the safety in opening a public account.

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

 

 

Safety

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

In XM Group, there are 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 Group 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 EU.

With XM Group, 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 Group started out as a Trading Point Holdings, which was created in 2009. This shows that XM Group 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.

 

 

Fees

XM Group 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 90 days. However, traders have to consider that the trading fees are relatively average.

XM Group 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 Group 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 an account in XM Group.

XM Group 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 Group define its reputation in the brokerage industry, as well as its public status towards clients.

XM Group 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 Group 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.

 

 

Opening an Account

With XM Group, 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 trouble whatsoever.

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.

Account types    
Micro AccountStandard AccountXM Ultra Low AccountShares Account
Base Currency OptionsUSD, EUR, GBP, JPY, CHF,‎

AUD, HUF, PLN, RUB, SGD, ZAR
USD, EUR, GBP, JPY, CHF,‎

AUD, HUF, PLN, RUB, SGD, ZAR
EUR, USD, GBP, AUD, ZAR, SGDUSD
Contract Size1 Lot = 1,0001 Lot = 100,000Standard Ultra: 1 Lot = 100,000

Micro Ultra: 1 Lot = 1,000
1 share
Leverage1:1 to 1:888 ($5 – $20,000)

1:1 to 1:200 ($20,001 - $100,000)

1:1 to 1:100 ($100,001 +)
1:1 to 1:888 ($5 – $20,000)

1:1 to 1:200 ($20,001 - $100,000)

1:1 to 1:100 ($100,001 +)
1:1 to 1:888 ($50 – $20,000)

1:1 to 1:200 ($20,001 – $100,000)

1:1 to 1:100 ($100,001 +
No Leverage
Negative Balance ProtectionYesYesYesYes
Minimum Trade Volume0.01 Lots (MT4)

0.1 Lots (MT5)
0.01 LotsStandard Ultra: 0.01 Lots

Micro Ultra: 0.1 Lots
1 Lot
Trading BonusesYesYesNoNo
Hedging AllowedYesYesYesNo
Islamic AccountOptionalOptionalOptionalYes
Minimum Deposit$5$5$50$10 000

The trading accounts of XM Group, such as Standard and Micro and Ultra Low accounts all contain characteristics that are custom-oriented conditions. Each of the three accounts, according to the client’s requests, can be submitted to an Islamic account. This shows that there is no swap interest and the Islamic account is accountable for any client that follows the Shariah laws.

 

How to Open an XM Account step by step guide

Opening an XM 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.

STEP ONE:

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 Account - Step One

Step One is to fill out all of the required information for the online application.

 

STEP TWO:

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

 

XM Group Account - Step Two

Step Two is when XM Group will define the regulations you will follow and abide by, depending on your jurisdiction and country of residence.

 

STEP THREE:

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

 

XM Group Account - Step Three

Step Three is choosing whether you want MT4 or MT5 as your trading platform, and which account you prefer.

 

STEP FOUR:

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.

 

STEP Five:

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.

 

 

Trading Platforms

XM has a 3 trading platforms that will be reviewed below.

 

Web Trading Platform

ProsCons
Customizable selection of optionsDesign is outdated and obsolete
Clear fee reportNo 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.

Web Trading Platform XM

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

 

 

Desktop Trading Platform

ProsCons
Price alertsObsolete design
Customizable options selected by trader’s selection

XM Group 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

ProsCons
User-FriendlyConfirmation on orders are unavailable
Great Search FunctionNo Face recognition login
Alerts are possible for price changes

XM Group 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.

XM Mobile Trading Platform

 

 

Withdrawal and Deposit

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.

ProsCons
No deposit feesWire transfers below 200USD charge a 15USD fee
No withdrawal fees
Free wire withdrawal above the amount of 200USD
Many options for withdrawal and deposit

XM Options for Withdrawal and Deposit

Deposit Options:
Neteller
Skrill
Skrill 1-Tap
MuchBetter Wallet
Trustly
MoneyGrams
Western Union
Bank Transfer
International Wire Transfe
Credit/Debit Card

Withdrawal Options:
Neteller
Skrill
Skrill 1-Tap
MuchBetter Wallet
Trustly
MoneyGrams
Western Union
Bank Transfer

International Wire Transfer
Credit/Debit Card

 

 

Customer Service

There are different forms of contacting XM Group: 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.

ProsCons
Different Methods of Customer SupportCustomer Service is not available 24\7; only 24\5
Phone Support AvailableMultiple Questions Decreases Fast Response on Live Chat
Live Chat Available
Email Available
Customer Service Available in Different Languages

Traders can reach the XM Group customer 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

 

 

Research

With this XM review, we want to show you all the additional features and options that make XM Group 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 in XM Group, 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.

 

XM Group Trading Ideas

XM Group introduced trading ideas as new research material for traders to learn what they need about the forecast of prices.

 

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.

 

XM Group Trading Tools

XM Group offers 31 trading tools for traders to choose from and be able to select whichever option they want.

 

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 Group News Feed

XM Group provides a news feed section with the latest updates, which are categorized into different elements.

 

 

 

Learning XM

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 Group 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.

 

STEP ONE: Fill in the application with your personal information

XM Demo Account

The first step to opening a Demo Account is by filling in the application with your personal information

STEP TWO: Choose your preferred trading account details and your account password

XM Demo Account

The second step to opening an XM Demo Account is to choose the trading account details and your account password.[/caption]

 

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

XM Group will aid the client in finding their preferences and tailor it to their needs. The staffs 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 Group 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.com; they also give the option for traders to fund their accounts through their local banks.

 

 

 

 

 

 

FAQ'S
Is XM a Good Broker?
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.
Minimum Deposit Fee?
With XM Group, there are no deposit fees and no withdrawal fees either.
What is XM Zero Account?
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.
Does XM have a Withdrawal Fee?
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.
Is XM Regulated?
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).
Does XM have Good Customer Service?
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
Can I Open an XM Account in South Africa?
Yes, traders from South Africa are welcomed to open an XM Account.
Is XM Safe?
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.
Does XM Charge Any Commission?
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.
What Is XM Broker?
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.
How Do I Start XM Trading?
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!
Can I Withdraw XM Bonus?
You can withdraw the profits made from the XM bonus, but you cannot withdraw the bonus amount itself.
How Long Does It Take To Withdraw Money From XM?
With XM, you can withdraw funds from your account via creditdebit card in two business days. However, you can only withdraw funds to accounts under your name and no one else’s, for safety purposes.
What Is XM Ultra Low Standard?
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.
Summary
Review Date
Reviewed Item
XM Group
Author Rating
51star1star1star1star1star
Software Name
XM Group
Software Name
Metatrader 4
Software Category
Forex Trading