XM

Overall Score

4.5 /5

Pros

Low Stock CFD Fees
Top Tier Regulations
Great Educational and Trading Tools
Leverage up to 1000:1

Cons

Limited Product Portfolio
Inactivity Fee

Visit XM

Main Regulators: ASIC, DFSA, CySEC, FSC
Crypto: Yes
Minimum Deposit: $5
Average Trading Cost EUR/USD: 1.6 pips
Withdrawal Fee: $0
Account Opening: 1 Day

Year Established	2009
Headquarters	Cyprus
Traded Assets	1,000+
Options
Crypto
Trading Fees	Low to Average
Trading Platforms	MT4, MT5, Prop platforms
Islamic Account
Demo Account
Funding Methods	Bank wire, credit cards, e-wallets, crypto
Tiers 1 Regulators
Tiers 2 Regulators
Negative Balance Protection

Products

Overall Score

4.4 /5

Open An Account

Pros

55+ Forex Pairs
Leverage up to 1000:1
Real Stocks available
Copy Trading available

Cons

Limited Product Portfolio
Average stock index and forex CFD fees

Asset Selection and Leverage

All clients at XM can trade CFDs and forex, but only those under the FSC-regulated entity have access to real stocks.
XM does not offer other popular asset classes such as ETFs, bonds, or options.

As a broker specializing in CFDs and forex, XM provides a vast selection of currency pairs, although its CFD offerings are somewhat limited compared to some alternative brokers.

XM enhances its social trading offerings by incorporating trading competitions and a Copy Trading feature.
Copy Trading at XM enables traders to either follow the strategies of seasoned traders as an Investor, deciding on their investment level, which is especially useful for beginners learning the market dynamics.
On the other hand, as Strategy Managers, experienced traders can create and share their strategies with the community, earning a profit from the success of their strategies when others replicate them.
This interactive system facilitates knowledge exchange and skill development among traders.

	Availability	Maximum Leverage
Forex		1000:1
Crypto		500:1
Stocks		200:1
Equity Indices		500:1
Precious Metals		1000:1
Other Commodities		-
Bonds
ETFs
Real Stocks		1:1
Real Bonds
Options
Thematic Indices		50:1
Synthetics

Traders at XM benefit from a maximum leverage of 1000:1, complemented by negative balance protection, which is essential for traders using leverage.
However, it's important to note that maximum leverage may vary depending on the asset you trade and your total equity amount.

Average Trading Spreads (for Standard Accounts)

EUR/USD	1.6 pips
GBP/USD	1.9 pips
USD/JPY	2.0 pips
Gold	$0.39
Bitcoin	$94
S&P 500 Index	0.55
WTI Crude Oil	0.03$

Platforms

Overall Score

4.0 /5

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Pros

Good Mobile app
MT4/MT5 available

Cons

Poor Design on the Desktop Platform

Various trading platforms are available for users, accessible via web, desktop, and mobile devices. These platforms include:

Popular External Platforms

The MT4 platform is one of the most popular trading platforms amongst new and established traders.
It offers a comprehensive set of features designed to empower traders with the tools they need to succeed in the dynamic world of financial markets.
From advanced analytical tools to smart trader features and community support, it caters to the diverse needs of traders while providing a seamless trading experience.

Key Features:

Analytical Tools: The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.
Smart Trader Tools: Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.
Order Types and Execution Options: Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.
Community and Customization: Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

MetaTrader 5 (also known as MT5), is a versatile trading platform, that caters to advanced trading needs, providing access to automated trading systems, technical tools, and copy trading.
Among its notable features are:

Diverse Asset Classes: MT5 offers access to a wider range of asset classes, including stocks and commodities, compared to MT4.
Advanced Timeframes: MT5 provides additional timeframes for charting, offering more flexibility in analyzing price movements.
Enhanced Depth of Market (DOM): MT5 improves the Depth of Market feature, providing a more comprehensive view of market liquidity.
Built-in Economic Calendar: MT5 includes a built-in economic calendar, allowing traders to stay updated on key economic events directly from the platform.
Advanced Technical Analysis: MT5 introduces more built-in technical indicators and graphical objects for in-depth market analysis.
Hedging and Netting: MT5 supports both hedging and netting accounts, offering more flexibility in position management.
Improved Strategy Tester: MT5's Strategy Tester offers faster and more efficient backtesting of trading strategies compared to MT4.

Key Features

Analytical Tools:

The platform boasts a wide array of analytical instruments, including advanced charting capabilities and a diverse range of technical indicators. These tools empower traders to conduct thorough market analysis and make informed trading decisions.

Smart Trader Tools:

Enhancing functionality, the platform provides smart trader tools such as Expert Advisors (EAs) and a variety of indicators, allowing for automated trading strategies and advanced charting features.

Order Types and Execution Options:

Traders benefit from the flexibility of various pending order types and execution options, enabling precise control over trade entry and exit points.

Community and Customization:

Access to a vibrant trading community and thousands of online plug-in tools enriches the trading experience. Additionally, traders have the ability to create custom Expert Advisors using the platform's programming language.

In-House Platform Offering

The XM Mobile App is compatible with both MetaTrader 4 and MetaTrader 5 platforms and can be downloaded from the Apple App Store and Google Play. Key Features of the XM Mobile App:

Immediate order execution with no re-quotes
In-app customization options for accounts
Mobile-enabled deposits and withdrawals
Sophisticated, real-time charts
Over 90 trading indicators
Access to the latest news, analysis, and market research for traders

Accounts

Overall Score

4.6 /5

Open An Account

Pros

Smooth and Fast Account Opening
Low Minimum Deposit
Islamic Account Available

Cons

Inactivity Fee

Account Types

XM offers a variety of account types to suit different trading preferences and experience levels, ensuring a tailored trading experience for every user:

Standard Account	Ideal for a wide variety of traders including professionals accustomed to trading standard lot sizes. The Standard Account offers a traditional account structure.
Micro Account	Suitable for beginners with limited trading capital. This account allows to operate with micro lots and lower levels of risk.
Ultra Low Standard Account	The XM Ultra Low Account caters to a diverse group of traders and provides swap-free trading on a variety of popular instruments, including Gold and EUR/USD.
Shares Account	Suitable for traders looking to build a portfolio of real shares.
Islamic Account	Muslim traders can request a Sharia-compliant, swap-free Islamic account for any of the four available account options.
Demo Account	Traders can utilize the XM forex demo account to test trading strategies or Expert Advisers, with the flexibility to configure settings similar to a live trading account, allowing for a more accurate simulation of actual trading results.

Account Opening Process

XM's account opening process is simple and efficient, allowing you to potentially start trading on the same day.

Account Base Currencies

The base currencies available on XM include the following:

USD
EUR
GBP
AUD
CHF
JPY
HUF
PLN
SGD
ZAR

Why is it important to manage Base Currencies?
Firstly, funding your trading account in the same currency as your bank account helps you avoid conversion fees.
Secondly, trading assets denominated in the same currency as your trading account's base currency eliminates the need for currency conversion fees.

Account Features

XM sets its minimum deposit at $5. That applies for all accounts except the Shares Account for which the min deposit is $10k.

XM applies a $15 inactivity fee after 1 year of inactivity, followed by $5 monthly fee for each additional inactive month.
It's important for traders to review the terms and conditions of their specific account type to understand the applicable inactivity fee and take necessary actions to avoid it.

Minimum Deposit	$5 [Shares Account: $10,000]
Inactivity Fee
Currency Conversion Fee
Broker commissions	Yes for the Shares Account
Hidden Fees
Negative Balance Protection

Deposit and Withdrawal

Overall Score

4.7 /5

Open An Account

Pros

Multiple Payment Solutions
No Deposit Fee
Free Withdrawal
e-wallets funding available
Crypto wallet deposit available

Cons

No Instant Withdrawal

Deposit and withdrawal at XM are great.
You can use many deposit and withdrawal types and both are free of charge.
The only exception is bank (wire) transfers below $200, which incur a $15 fee.

Withdrawals can only be processed to accounts under your name, following the general rule of utilizing payment methods aligned with your initial deposit.
This practice is widespread among similar brokers and is mandated by anti-money laundering regulations.

Payment Methods

Bank Transfer
Credit/Debit Cards
Electronic Wallets
Crypto Payments

e-wallets

Neteller

Fees and Processing Time

Deposit Fee
Withdrawal Fee	No [except wire method less than $200]
Withdrawal Processing Time	Relatively Slow [up to 2 business days]

Trust

Overall Score

4.7 /5

Open An Account

Pros

Top-tier regulations
Established since 2009

Cons

Low TrustPilot Score [2.6]

Founded in 2009, XM, through its parent company, is regulated by three global financial authorities, including the top-tier ASIC.
While it is a well-established brand, XM is not publicly traded and does not publish its financial information.

Global Regulations	Registration Country
ASIC	Australia
DFSA	UAE
CySEC	Cyprus
FSC	Belize

Bonus
Trading Competitions
Free VPS
EA

FAQs	Well Structured
Support Methods	Live Chat, Email,
Support Hours	24/7
Multiple Languages	English, Arabic, French, Portuguese, Spanish, Russian, Chinese, Other

Pros

Cons

Year Established

2009

Headquarters

Cyprus

Traded Assets

1,000+

Options

Crypto

Trading Fees

Low to Average

Trading Platforms

MT4, MT5, Prop platforms

Islamic Account

Demo Account

Funding Methods

Bank wire, credit cards, e-wallets, crypto

Tiers 1 Regulators

Tiers 2 Regulators

Negative Balance Protection

Products

Pros

Cons

Asset Selection and Leverage

Availability

Maximum Leverage

Forex

1000:1

Crypto

500:1

Stocks

200:1

Equity Indices

500:1

Precious Metals

1000:1

Other Commodities

-

Bonds

ETFs

Real Stocks

1:1

Real Bonds

Options

Thematic Indices

50:1

Synthetics

Average Trading Spreads (for Standard Accounts)

EUR/USD

1.6 pips

GBP/USD

1.9 pips

USD/JPY

2.0 pips

Gold

$0.39

Bitcoin

$94

S&P 500 Index

0.55

WTI Crude Oil

0.03$

Platforms

Pros

Cons

Popular External Platforms

MetaTrader 4

Key Features:

MetaTrader 5

Key Features

Analytical Tools:

Smart Trader Tools:

Order Types and Execution Options:

Community and Customization:

In-House Platform Offering

XM Mobile App

Accounts

Pros

Cons