XM Review 2024 Fees, Platforms, Apps, Pros & Cons

In the case of the zero account, the spreads here starts from 0 pips, although the minimum deposit will be slightly higher but still very competitive at $100. Well suited for clients with low risk-profile and limited funds, the Micro account comes with a minimum deposit of $5. Clients can trade a minimum trade volume of 0.1 lots on both MT4 & MT5 trading platforms. While the spread for micro account holders starts at 1.0 pips, the company does not charge any commission in this account.

Our xm group review uncovered an average selection of extra trading tools. XM uses a dynamic model, meaning the highest leverage is only available on lower equity amounts. For example, the maximum leverage is available on trading volumes of less than $40,000.

  1. After filling up the registration form, clients need to upload the supporting documents to complete the KYC process so they may add funds to their accounts and start placing trades.
  2. To show it was serious, the CVM stated that it would fine XM 1,000 reals ($239) for every day the condition was not met.
  3. The brokerage has offices in multiple countries, including headquarters in Limassol, Cyprus.
  4. Whether you’re a beginner or an experienced trader, XM Group offers a range of account types to suit your needs and preferences.
  5. To evaluate brokers, we test the accounts, trading tools and services provided.

The Daily Technical Analysis focuses on forex markets and includes simple technical indicators. The Weekly Forex Outlook covers the main events of the past week and explores their effect on major currencies. MT4 Multiterminal offers three allocation methods, multiple order types, and execution and management in real time. There is full support for Expert Advisors and one-click trading. Choose from three chart types and use the technical analysis tools, which include 50 indicators plus charting tools.

This feature looks the same as offered via XM’s desktop trading platform. However, crypto CFDs aren’t available to UK clients amid FCA restrictions. XM’s product portfolio isn’t as competitive as other top-of-the-line brokers. However, it still provides 1,500+ financial instruments with sufficient tradable assets under each asset class. XM is an international broker offering clients access to more than 1,000 instruments across 7 asset classes.

Final Take on XM

XM gives clients access to a long list of algorithmic trading tools. MT5 allows hedging, full EA functionality, and one-click trading. MT5 builds on the offerings of MT4, adding 1,000 stocks/shares CFDs. Spreads on this platform start at just 0.6 pips and there is the option of micro lots.

Unique Features

Here, there is a contract size of 1 share and a minimum trade volume of 1 lot. A maximum of 50 positions can be open or pending at the one time. The XM Foundation works to help people develop crucial skills and offers access to vocational skills by initiating projects. On top of this, it provides aid by working with active human aid foundations both locally and globally.

Non-trading fees include deposit and withdrawal charges, inactivity or currency conversion fees. Articles may be news-related when relevant or labeled as technical analysis. There is then a separate page for Forex Previews, also with news and insights. This page has recent expert technical analysis on a range of crucial assets and their movements.

This is something that XM both recognizes, and works hard to provide. They are regulated around the world by 4 recognized, and respected regulatory bodies. All information contained herein should be independently verified and confirmed. We do not accept any liability for any loss or damage whatsoever caused in reliance upon such information or services.

Account Opening

The wealth of educational materials available is a key benefit of trading with XM in our opinion. There is a Learning Centre with regular webinars, as well as an extensive catalog of training videos, tutorials, and trading tips. Importantly, we do not recommend that beginners trade with high leverage – this can increase the risk of large losses.

Because while most other brokers charge higher spreads to this account, XM does not. The option of an Islamic account is also available with a low minimum deposit of only $5. While clients will be allowed to hedge it is worth noting that in order to trade on MT4, clients must meet a minimum trade volume of 0.01 lots, or 0.1 lots on MT5.

However, clients can open the demo account repeatedly using different email IDs. There are 1,500+ XM trading instruments and the broker seems committed to providing first-rate services in the foreign exchange market. While clients have 1,250+ stock CFDs, 50+ forex pairs, 13+ equity indices, 30+ crypto CFDs, and 15+ commodities to trade on XM. Since the company doesn’t deal in real cryptocurrencies, clients registered with the broker can only trade them as derivatives.

Available Assets at XM

One way the company does this is by hosting seminars in the countries it visits. Its goal is to upskill traders to make better decisions and receive better returns. To date, XM has held hundreds of seminars, and has more lined up for the future. A real highlight for the company, as you might have already noticed, is that it strives to create a connection with clients and build a relationship on that. We see this through the management’s continued efforts to visit both its clients and partners in over 120 cities around the world.

Tradable Instruments

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. There are daily, weekly and monthly contests, offering ample opportunities. Previous incentives, available to global clients, have included a $30 no-deposit bonus.

Since the company doesn’t charge interest on overnight positions, clients can trade their preferred financial instruments without going against their religious beliefs. Although Islamic accounts are not offered as a stand-alone product, clients can request the company to switch their conventional account types to Islamic ones. This XM review will take a deep look at various factors you must consider while signing up with the company. We’ll discuss XM fees, so you know whether the broker employs market competitive pricing structure.

You can contact the broker 24 hours a day by telephone, email, and live chat. XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC. XM Group offers a variety of unique features and tools designed to enhance traders’ decision-making processes and provide valuable insights into market trends and trading practices. XM provides CFD trading, which allows traders to speculate on the price movements of these assets without actually owning them.

High leverage will appeal to seasoned traders with effective risk management strategies. The only charge to be aware of for casual investors is the $5 monthly inactivity fee that applies after 90 days. If you want a broker with no inactivity fee, we recommend Vantage. While testing XM, we were also reassured to see that Islamic-friendly solutions are available on all accounts with swap-free trading and no replacement fee. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. So far I have very good experience with XM despite hearing many negative comments about them.