XM Review; Touted as the next generation broker for online forex and commodity trading, XM Global Webtrade is suitable for beginner and seasoned traders alike. Traders can get started with the trading software real account, or test the waters with a demo account platform with $100,000USD of virtual currency.
XM Group consists of multiple entities that use the XM brand and hold regulatory status in various jurisdictions. The Group’s first entity was founded in 2009 in Cyprus and is regulated by CySEC (license 120/10) under the name Trading Point of Financial Instruments Ltd.
In 2015, the Group established an entity in Sydney, Australia, regulated by ASIC (license number 443670). In the United Kingdom (UK), XM holds regulatory status in London through its FCA-regulated entity (license number 705428), under Trading Point of Financial Instruments UK Ltd. Finally, in 2017 XM Global Limited obtained regulatory status in Belize, where it is regulated by the IFSC (license number IFSC/60/354/TS/19).
XM Group (XM) is a group of regulated online brokers. Trading Point of Financial Instruments was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10).
Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670).
XM Global was established in 2017 and is regulated by the International Financial Services Commission (000261/106).
The platform boasts over 1.5 million clients with traders in 196 countries. The XM ethos is all about being big, fair and human. The company prides itself on things like excellent customer service and a personalised approach for every client, no matter their investment goals.
There are four levels of trading account, Micro, Standard and Zero. All accounts allow up to 200 open/pending positions per client.
Spreads vary depending on the kind of account opened. It’s possible to open a Micro Account, Standard Account and XM Zero Account. The minimum spread across all accounts is 0.1 pips, and the average spread for a major pair such as EUR/USD is 0.1 pips.
XM operates a strict “no hidden fees or commission” policy. As such, commission is only given for XM Zero accounts. XM covers all transfer fees and same-day withdrawals are guaranteed.
XM has low stock CFD and withdrawal fees. Account opening is user-friendly and fast. You can use many educational tools, such as webinars and a demo account.
On the other hand, XM has a limited product portfolio as it offers mainly CFDs and forex. Its forex and stock index CFD fees are average, and there is no investor protection for clients onboarded outside the EU.
XM also offers a free VPS (virtual private server) service to help increase the speed of trades. This VPS is accessible from anywhere and available 24/7. They claim to eliminate downtime and are available across the globe.
XM are also offering commission and fee free withdrawals and deposits.
As an EU regulated brand, XM comply with the ESMA ban on bonuses, and the $30 deposit bonus is no longer available to EU traders.
XM Group (XM) is a group of regulated online brokers. Trading Point of Financial Instruments Ltd was established in 2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670) and XM Global Limited was established in 2017 with headquarters in Belize and it is regulated by International Financial Services Commission (000261/106).
XM’s regulation in Cyprus provides its clients there with a degree of investor protection, as CySEC maintains an Investor Compensation Fund which is empowered to award depositors who lose their accounts due to failure of a regulated firm an amount up to €20,000.
XM has been in operation as a brokerage since 2009, giving it a relatively long track record. Typically, it can be said that the longer a broker has been in business, the more reputable the broker should be held to be. This means that XM can be said to have a substantial track record and an established reputation of safety as a brand which it will wish to protect.
Like all Forex / CFD brokerages regulated in member states of the European Union like Cyprus, all clients of XM enjoy negative balance protection. This means that it is impossible for any client to lose more than the amount they have deposited with XM. The “tail risk” of an extremely large and sudden market movement, amplified by any leverage used, is borne fully by XM under this European Union regulation.
Depending on the instrument, the leverage can range from 2:1 to 30:1. This is completely flexible and XM offers its clients the chance to manage their own leverage risk. Margin requirements remain constant throughout the week and never widen at weekends or at night.
This leverage applies to clients registered under the EU regulated entity of the group.
XM is available on a number of Android and Apple devices, including Apple iPhone, Apple iPad and Android tablets and Android phones. Login is super-easy and can be done via fingerprint. You can download their apps from the Apple App Store or the Google Play Store.
They are both fully functional and allow for monitoring and trading on-the-go. The desktop platforms for PC and Mac both support one-click trading.
In line with worldwide Forex market hours, XM is available 24 hours a day. For phone trading, the XM trading hours are Sunday 22:05 GMT through to Friday at 21:50 GMT.
XM deserves a mostly positive review. Fees are competitive for depositors of a few hundred dollars, and the XM Zero account option seems to be competitive for Forex traders at any deposit size starting at the $5 minimum! A good, diverse range of assets are offered for trading, including over 1,200 individual stocks and shares. XM’s reputation is towards the higher end of the industry average, with a long track record and good regulatory standing in Australia, Belize and Cyprus.
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