XM Review

MIN. DEPOSIT $5
Up to 888:1
Up to 100% BONUS
0 Users (0 votes)
Odds0
Services0
Support0
XM
Up to 100%
Open an Account

Overview

Company Information XM is one of the biggest Forex brokerages that originates from Cyprus. The brand was formerly known as XEMarkets and is a property of Trading Point Holding Ltd…. more

Read Full Review

Details

BrokerXM
Website URLhttps://www.xm.com/
Founded2009
Headquarters Limassol, Cyprus
Support Number ‎+357 25029933
Support Emailsupport@xm.com
Support TypesPhone, Live Chat, E-mail
LanguagesEnglish, Japanese, Malay, Chinese, Taiwanese, Hungarian, Russian, Greek, Indonesian, French, Italian, Swedish, German, Polish, Arabic, Spanish, Korean, Portuguese, Turkish, Vietnamese, Thai, Tagalog, Dutch, Czech, Farsi, Bengali
Minimum 1st Deposit$5
Minimum Trade Amount0.01 Lots
Maximum Trade Amount100 lots
BonusUp to 100%
PayoutUp to 888:1
Free Demo AccountYes
Regulated Yes
RegulationCyprus Securities and Exchange Commission (CySEC)
Account TypesMicro, Standard, XM Zero, Islamic
Deposit MethodsVisa, Visa Electron, MasterCard, Maestro, Diners Club, China UnionPay, Neteller, WebMoney, Skrill, Sofort, iDeal, Paysafe Card, Qiwi, cashU, Giropay, Przelewy24, FasaPay, Bank Wire, Local Bank Transfer
Withdrawal MethodsVisa, Visa Electron, MasterCard, Maestro, Diners Club, China UnionPay, Neteller, WebMoney, Skrill, Sofort, iDeal, Paysafe Card, Qiwi, cashU, Giropay, Przelewy24, FasaPay, Bank Wire, Local Bank Transfer
Types of AssetsForex, Commodities, Precious Metals, Equite Indices, Energies
Account CurrencyUSD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

XM is one of the biggest Forex brokerages that originates from Cyprus. The brand was formerly known as XEMarkets and is a property of Trading Point Holding Ltd. The company was founded in 2009, but their online services were launched in 2012. Since then XM has acquired more than 700 000 clients from 196 countries. It’s one of the leading names in the industry and has a record of 99,35% of trades executed under a second. In just under five years the company has spread its popularity through clients and partners in over 120 cities. It’s regulated by CySEC in Cyprus, ASIC in Australia, FSP in New Zealand and the FCA in the UK. Currently, the company has offices in Cyprus, Australia, Hungary, and Greece. Their language support is unmatched in the industry, and their customer support teams are one of the best in the world. The trading conditions and platform they offer are unique. Also, they provide safe and secure trading experience to beginner and expert traders. Let’s see more about their account types.

 

Trading Information

 

At the time of writing this review three types of accounts: Micro, Standard and XM Zero. The micro account has a very low deposit requirement of just $5. Spreads are variable and can go as low as one pip for majors like EUR/USD. The leverages can be set depending on what you want from your account; they can go from 1:1 to 1:888. Maximum pending orders per clients are set to up to 200. The minimum position size is 0.01 lots, and hedging is allowed. The Standard account is pretty much the same as the Micro. Spreads, leverages, minimum deposit requirement, position size and maximum pending orders are the same. But, the lot restriction per ticket is 50 lots (100 lots for the Micro). An option for the most experienced traders is the XM Zero account. It has a deposit requirement of $100 and gives you some features that the other two account types don’t provide. The spreads, for example, are much beneficial to the client. Again, they’re variable but can go as low as 0.00 pips for majors. The leverages can be from 1:1 to 1:500 depending on your account size. The difference here is that it has commissioned on trades. All account types allow swap free versions.

 

Trading Platforms

 

The platform of choice here will not surprise anyone because it’s the Metatrader4. It is the most popular platform in the world of online trading and has done a great job for over ten years. There is a lot to say about the Metatrader4 (MT4), but the main benefit of using it is that it’s easy to understand by beginner and expert traders. And while it’s not complicated enough for the newbie in the industry it offers enough complexity for the expert trader. With great language support over 30 indicators and excellent customization, it’s one of the preferred choices for most clients. The MT4 is available for all modern computer and mobile devices. You can use it on your Windows or Mac OS-based desktop computer and install it on your mobile device. The platform offers Android, iPhone, and iPad support. One thing that is always a bit disappointing about the MT4 is the lack of a Webtrader platform. But, in this case, XM have made the extra effort and have done one. It doesn’t require additional download or installation, and you can use it with the most famous browsers.

 

Security and Customer Services

 

As a fully licensed company in four major countries around the world, you can expect that security is at a top level at XM online broker. And it is. The website has a secure SSL encryption that protects personal data and makes it available only to the company’s employees. The segregated account option means that your funds will be deposited in top tier banks and kept separate from the operational funds in the enterprise. The customer support as mentioned previously is great. There are a lot of ways to contact the client care team including several phone numbers, emails, social media profiles and locally at their offices. They offer a very thorough educational program where even a beginner trader can become an expert from reading the guides, FAQ’s and watching the videos. There is also a very convenient Live chat system where you can contact an employee directly and inform yourself of the stuff on the platform. The website is translated into 25 languages which make it easier to use from people from 5 continents.

 

Deposits and Withdraws

 

There are more than 20 deposit methods made available by XM which makes it simple to use the platform. They’ve made their best effort to make all of the deposit processing times instants, but there are cases when it can take up to 2-3 business days (bank wire). There are no deposit fees whatsoever which are nice to see. The minimum deposit requirement for most methods is $5, but for some, it may rise to $200. There is no information about the deposit limit, which means you’ll have to get in contact with a customer representative to learn the differences about every payment method. Withdrawals can be pretty much made with the methods you’ve chosen for your deposit. If your deposit method is not available on the withdrawal method page, you can choose a similar one. Again, the processing times are fast. Except for the bank wire transfer all withdrawals are processed within 24 hours, which commendable. The withdrawal procedure is carefully explained on their website, and the best thing about it is that there are no transfer fees.

 

Deposit Bonus and Loyalty Programs
Currently, there are three bonuses offered by XM. The first one is their “No deposit” bonus offer. This bonus is available to all clients that make an account. The second one is the 100% up to $5000 bonus for people who have Executive Level entry to the XM Loyalty program. And finally, there’s the $1 000 000 contest which offers the opportunity to win $50 000 for everyone who reaches the final round.

Open an Account
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating