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Popularity top broker
Leverage Up to 1:888
Minimum Deposit $5
Regulation ASIC, CySEC, IFSC
Payment Methods Bank Transfer, Credit Card, Skrill, Neteller, UnionPay
Trading Assets Forex, Stocks, Commodities, Indices, Cryptocurrencies
Spreads Low
Average cost: EUR/USD 1.6 pips
Demo Account
Islamic Account
Copy Trading
Scalping Yes
EAs/Robots Available
Negative Balance Protection Yes
Deposit Fee
Withdrawal Fee
Inactivity Fee Yes
Year Established 2009
Address No.5 Cork Street, Belize City, Belize, C.A.
Contact Information Email: [email protected], Phone: +501 223-6696
Mobile Trading APP
Rating ★★★★☆ (4.5)

Article Content

Pros and Cons

  • Extensive range of trading instruments
  • User-friendly platforms (MT4 and MT5)
  • Competitive spreads and low trading costs
  • Strong regulatory framework
  • Comprehensive educational resources
  • Limited product portfolio compared to some competitors
  • Inactivity fee after a certain period
  • Withdrawal restrictions under certain conditions
  • No cryptocurrency trading in certain regions
  • Limited research tools


XM, a prominent name in the world of online trading, has been carving its niche since its establishment in 2009.

Known for its user-friendly interface, wide range of financial instruments, and exceptional customer support, XM has garnered attention from traders worldwide.

This review delves deep into what XM offers, examining its trading platforms, financial instruments, fees, customer support, and more, to provide an insightful overview for prospective traders.

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XM Broker Overview

History and Background

Established in 2009, XM has quickly risen to become a respected and well-known online brokerage.

With a strong commitment to providing transparent and fair trading conditions, it has attracted over 6.5 million clients from 204 countries.

The broker operates with a client-centric approach, focusing on delivering the best trading conditions and state-of-the-art technology.

Regulatory Compliance and Security

XM Broker is highly regulated by several financial authorities globally, including the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the International Financial Services Commission (IFSC) of Belize.

This regulatory framework ensures a high level of security and fairness for all its clients.

XM’s adherence to strict regulatory standards speaks volumes about its commitment to safeguarding traders’ interests and funds.

Trading Platforms and Tools

XM Broker offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, renowned for their reliability and range of features.

These platforms are available across various devices, including desktop and mobile applications, ensuring traders can access the markets anytime, anywhere.

Features of XM’s Trading Platforms:

  • User-Friendly Interface: Both MT4 and MT5 boast an intuitive interface suitable for both beginners and experienced traders.
  • Advanced Charting Tools: Comprehensive charting capabilities allow detailed market analysis.
  • Automated Trading: Support for Expert Advisors (EA) for automated trading strategies.
  • Custom Indicators: Traders can use existing indicators or create their own.
  • Multi-Language Support: Accessibility in multiple languages caters to a global clientele.

Financial Instruments

XM offers a wide array of financial instruments, providing traders with opportunities in various markets.

Key Instruments Include:

  • Forex: Access to over 55 currency pairs, including major, minor, and exotic pairs.
  • Stocks CFDs: Trade CFDs on shares of major companies.
  • Commodities: Includes precious metals, energies, and agricultural products.
  • Indices: Global indices from top markets are available.
  • Cryptocurrencies: A selection of the most popular digital currencies.

Account Types

The broker caters to a diverse clientele by offering various account types, each tailored to meet different trading needs and strategies.

Main Account Types:

  • Micro Account: Suitable for beginners, offering lower risk.
  • Standard Account: Ideal for experienced traders, with standard trading conditions.
  • XM Zero Account: Offers ultra-low spreads for high-volume traders.
  • Islamic Account: Swap-free accounts for Muslim traders adhering to Sharia law.

Account Features

XM’s diverse range of account types ensures that there’s something for every trader.

Here’s a closer look at the key features of each account type:

Micro Account

  • Ideal for Beginners: Low risk with micro lot trading (1,000 units of the base currency).
  • Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.
  • Leverage: Up to 1:888, allowing traders to open larger positions with a smaller capital.
  • Spread: As low as 1 pip on major forex pairs.

Standard Account

  • Suitable for Experienced Traders: Standard lot sizes (100,000 units of the base currency).
  • Base Currency Options: Similar to the Micro Account, offering a broad choice.
  • Leverage and Spread: Same as Micro Account, offering flexibility and competitive conditions.

XM Zero Account

  • For High-Volume Traders: Offers ultra-low spreads, as low as 0 pips.
  • Commission: A small commission per trade is applicable.
  • Base Currency Options: Limited to USD, EUR, JPY.
  • Leverage: Up to 1:500, slightly lower than Micro and Standard accounts.

Islamic Account

  • Swap-Free Trading: No interest charges on overnight positions, complying with Islamic finance principles.
  • Other Features: Similar to the chosen account type (Micro, Standard, or XM Zero).

Account Opening Process

Opening an account is straightforward and digital.

The process involves completing an online application form, providing personal and financial information, and submitting necessary documents for identity and residence verification.

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Fees and Costs

Understanding the fee structure is crucial for traders, and the broker maintains transparency in this area.

Spreads and Commissions

  • Spreads: Vary based on account type, with the XM Zero Account offering the lowest spreads.
  • Commissions: Only applicable to the XM Zero Account.

Other Fees

  • Inactivity Fee: A fee is charged if an account remains inactive for a prolonged period.
  • Deposit and Withdrawal Fees: XM does not charge any fees for deposits or withdrawals, although third-party fees may apply.

Educational Resources and Support

The company stands out for its commitment to educating its clients.

They offer a range of educational materials suitable for traders at all levels.

Educational Offerings

  • Live Webinars: Regular webinars covering various trading topics.
  • Trading Academy: Comprehensive educational content, including video tutorials, and written materials.
  • Market Research and Analysis: XM provides up-to-date market insights and analysis to help traders make informed decisions.

Customer Support

  • Availability: 24/5 customer support via email, live chat, and phone.
  • Language Support: Multilingual support catering to a global audience.
  • Responsiveness: Quick and helpful responses to client queries.

Trading Platforms

XM Broker offers two of the most popular trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), each catering to different trading needs.

MetaTrader 4 (MT4)

  • User Experience: Known for its user-friendly interface, MT4 is ideal for both beginners and experienced traders.
  • Tools and Features: Offers advanced charting tools, a range of technical indicators, and automated trading capabilities through Expert Advisors (EA).
  • Customization: Allows customization of charts and the use of custom indicators.

MetaTrader 5 (MT5)

  • Advanced Version: A more advanced platform offering additional timeframes, more indicators, and enhanced charting tools.
  • Market Depth: Displays market depth information, providing insights into market dynamics.
  • Economic Calendar: Integrated economic calendar to stay updated with key financial events.

Accessibility and Mobility

  • Desktop Application: Both MT4 and MT5 are available as desktop applications, providing a stable and powerful trading environment.
  • Mobile Trading: Fully functional mobile applications for both Android and iOS devices, ensuring traders can manage their trades on the go.
  • Web Trading: WebTrader versions allow trading directly from the browser without the need for any downloads.

Customer Experience

A critical aspect of any broker review is the customer experience, from account opening to customer service and platform performance.

Account Opening

  • Ease of Opening: Simple and quick online process.
  • Verification Process: Standard KYC procedures for security and regulatory compliance.

Customer Support

  • Availability: 24/5 support is essential for a global client base.
  • Channels: Support is available through phone, email, and live chat.
  • Efficiency: This company is known for its prompt and helpful customer service.

User Feedback

  • Positive Reviews: Many users appreciate the platform’s ease of use and range of tools.
  • Critiques: Some users mention a desire for more advanced analytical tools.

Additional Services

XM doesn’t just stop at offering trading platforms; it also provides additional services to enrich the trading experience.

Market Research and Analysis

  • Daily Market Updates: Provides insights into market trends and potential opportunities.
  • Technical Analysis: Regular technical analyses to assist in making informed trading decisions.

Promotional Offers

  • Bonus Programs: XM periodically offers various bonuses and promotional programs for its clients.
  • Loyalty Program: Rewards clients based on their trading activity.

Social Trading and Copy Trading

  • Copy Trading Services: Allows less experienced traders to copy the trades of more experienced ones.
  • Community Interaction: Facilitates learning and interaction within the trading community.

Security of Funds

  • Segregated Accounts: Clients’ funds are held in segregated accounts for added security.
  • Negative Balance Protection: Ensures clients do not lose more than their account balance.

Performance and Reliability

XM’s performance and reliability are pivotal in trading, where seconds can make a significant difference.

Execution Speed

  • Rapid Trade Execution: The broker boasts high-speed trade execution, reducing the risk of slippage and ensuring timely entry and exit from trades.

Uptime and Reliability

  • Stable Platforms: Both MT4 and MT5 platforms are known for their stability, minimizing downtime and technical glitches.
  • Backup Systems: Robust server infrastructure ensures continuity of service.

Security Measures

  • Data Encryption: Advanced encryption technologies protect sensitive client data.
  • Regulatory Compliance: Adherence to strict regulatory guidelines enhances overall security and reliability.

Global Reach and Accessibility

XM has a wide global reach, catering to a diverse client base.

International Presence

  • Wide Coverage: Services clients in over 196 countries.
  • Localized Support: Offers services in multiple languages, tailoring the experience for different regions.


  • Inclusivity: Provides various account types and payment methods to cater to a broad spectrum of traders.
  • Educational Resources: Extensive educational materials make it accessible for beginners to learn and grow.

Regulatory Jurisdictions

  • Multiple Regulations: Licensed and regulated in various jurisdictions, ensuring compliance with international financial standards.

Unique Selling Points

To conclude, let’s highlight the unique aspects that set XM apart in the competitive world of online trading.

Diverse Trading Instruments

  • Wide Range: Offers a vast selection of tradable instruments, including forex, commodities, indices, stocks CFDs, and cryptocurrencies.

User-Oriented Approach

  • Client-Centric: Focuses on providing personalized services to meet individual trading needs.
  • Customer Support: Exceptional customer service, highly rated by users.

Advanced Trading Tools

  • Innovative Platforms: MT4 and MT5 platforms equipped with advanced tools and features for comprehensive market analysis.
  • Automated Trading: Supports automated trading strategies, enhancing trading efficiency.

Educational Commitment

  • Comprehensive Learning Resources: Extensive educational content, including webinars, tutorials, and market research.
  • Support for Beginners: Makes it easy for new traders to start and progress in their trading journey.

Competitive Trading Conditions

  • Low Spreads and Fees: Offers competitive spreads and low trading costs, beneficial for all types of traders.
  • Flexible Leverage: High leverage options provide the opportunity to trade larger positions.

Social and Copy Trading Features

  • Community Engagement: Encourages learning and interaction through social and copy trading features.
  • Ease of Copy Trading: Allows traders to replicate the strategies of experienced traders.

Mobile Trading Experience

In today’s fast-paced trading environment, mobile accessibility is crucial.

Its mobile trading experience is designed to meet the needs of modern traders.

Mobile Platform Features

  • Availability: Dedicated mobile apps for both MT4 and MT5, available on iOS and Android.
  • Functionality: Full trading functionality, including real-time quotes, charts, and order management.
  • User Interface: Intuitive and user-friendly interface suitable for trading on the go.

Mobile Trading Advantages

  • Convenience: Trade anytime, anywhere, ensuring no missed opportunities.
  • Alerts and Notifications: Real-time alerts and notifications to stay informed of market movements.

Account Management and Support

Efficient account management and responsive support are essential for a seamless trading experience.

Account Management Features

  • Personal Area: Secure and user-friendly personal area for managing accounts and funds.
  • Deposit and Withdrawal: Streamlined processes for easy deposit and withdrawal of funds.
  • Customization: Ability to customize trading settings according to personal preferences.

Client Support Services

  • Personal Account Managers: Dedicated account managers for tailored assistance.
  • Resourceful Help Center: Extensive FAQs and support resources for self-help.

Trading Experience and User Feedback

The overall trading experience and user feedback are critical indicators of a broker’s quality and reliability.

User Experience

  • Seamless Trading: Smooth and hassle-free trading experience across platforms.
  • Analytical Tools: Advanced tools and indicators for comprehensive market analysis.

User Feedback and Reputation

  • Customer Satisfaction: High level of customer satisfaction, evident from positive user reviews and testimonials.
  • Industry Reputation: XM Broker is well-regarded in the industry for its services and has received multiple awards.


XM is more than just a platform; it’s a gateway to a comprehensive trading experience, combining technological sophistication with customer-centric services.

It is an excellent choice for traders looking for a reliable, versatile, and user-friendly online trading broker.

Whether you are starting your trading journey or are an experienced trader, XM offers a tailored experience that aligns with your trading needs and goals.

As with any financial investment, it’s important for potential traders to consider their personal trading objectives and conduct thorough research before beginning.

However, for those seeking a well-rounded and trustworthy online broker, XM emerges as a top contender in the global trading arena.

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User Reviews

“I’ve been trading with XM for over a year, and I’m impressed with their platform’s ease of use and reliability. Their customer support is always helpful and responsive. However, I wish they had a wider range of cryptocurrencies to trade.”
Michael Thompson
“Its educational resources have been a game-changer for me as a beginner. The webinars and tutorials are top-notch. The only downside is the inactivity fee, as I don’t trade very frequently.”
Sara Johnson
“As an experienced trader, I appreciate XM’s competitive spreads and the variety of instruments available. The platform is stable and user-friendly. I’ve had issues with withdrawal limits, but their support team was able to assist me efficiently.”
Raj Patel
“The mobile app is fantastic, allowing me to trade on the go. The interface is intuitive and easy to navigate. I’ve encountered some limitations in their research tools, but overall, my experience has been positive.”
Anna Kowalski
“I switched to XM because of their Islamic account option. The process was smooth, and their customer service is commendable. The only con is the lack of more advanced trading tools compared to other platforms I’ve used.”
Carlos Gomez

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Frequently Asked Questions (FAQ)

What types of accounts does it offer?

XM provides a variety of account types, including Micro, Standard, Zero, and Islamic accounts, catering to different trading needs and preferences.

Are funds safe?

Yes, XM ensures client fund safety through segregation of funds and adherence to strict regulatory standards by multiple financial authorities.

Does it offer educational resources?

Yes, XM offers a wide range of educational resources, including webinars, seminars, trading tools, and market research to support traders of all levels.

Can I trade cryptocurrencies?

Cryptocurrency trading availability varies by region due to regulatory constraints. Check the website or contact support for specifics in your area.

What is the minimum deposit?

The minimum deposit starts at $5, making it accessible for a wide range of traders.

Does XM charge withdrawal fees?

The broker does not charge any withdrawal fees, although fees may be imposed by your payment provider.

Is it suitable for beginner traders?

Absolutely, XM offers user-friendly platforms, comprehensive educational resources, and a supportive customer service team, making it a great choice for beginners.


      Our experts

      This article has been written, edited and reviewed by the following members of our team:


      Feng Zhou

      Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.


      Sandro Pontedra

      Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.


      Stephane Dubois

      Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.

      Last update: June 4, 2024