XM offers a wide range of trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms. They also have their own proprietary trading platform called XM WebTrader, which is accessible through any web browser. In addition, XM provides mobile trading apps for both Android and iOS devices, which allow traders to access their accounts and trade on the go.
XM is an online trading broker that was founded in 2009 and is based in Limassol, Cyprus. The company is owned and operated by Trading Point Holdings Ltd, which is licensed and regulated by several financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC).
It offers a variety of trading services for forex, CFDs, stocks, and commodities through their trading platforms, including MetaTrader 4, MetaTrader 5, and XM WebTrader. They also offer mobile trading apps for Android and iOS devices.
As of 2021, XM has over 3.5 million clients from over 190 countries, and they process over 2.5 million trades per day. They have a multilingual customer support team that is available 24/5 to assist traders with any questions or issues they may have.
Regulation And Licensing
XM is a regulated online trading broker that adheres to strict regulatory standards set by several financial authorities. The company is owned and operated by Trading Point Holdings Ltd, which is licensed and regulated by the following financial authorities:
- Cyprus Securities and Exchange Commission (CySEC): XM is regulated by CySEC under license number 120/10. CySEC is the financial regulatory agency of Cyprus and is responsible for ensuring that financial institutions comply with regulatory standards.
- Australian Securities and Investments Commission (ASIC): XM is regulated by ASIC under license number 443670. ASIC is the financial regulatory agency of Australia and is responsible for ensuring that financial institutions comply with regulatory standards.
- International Financial Services Commission of Belize (IFSC): XM is regulated by the IFSC under license number IFSC/60/354/TS/19. The IFSC is the financial regulatory agency of Belize and is responsible for ensuring that financial institutions comply with regulatory standards.
XM's compliance with these regulatory bodies ensures that the company operates in a transparent, fair, and secure manner. These regulatory authorities monitor XM's activities to ensure that they comply with regulatory standards, including capital adequacy, client funds segregation, and anti-money laundering measures. This provides traders with peace of mind, knowing that their funds are safe and that the company operates according to established standards.
XM Trading Platform
XM offers a range of trading platforms that cater to traders of all levels of experience and trading styles. These platforms include:
MT4 is a popular and widely-used trading platform that is known for its user-friendly interface and advanced charting and analysis tools. It is available for Windows, Mac, and mobile devices.
MetaTrader 5 (MT5):
MT5 is a more advanced trading platform that offers advanced charting tools and analytical capabilities. It is also available for Windows, Mac, and mobile devices.
XM's proprietary trading platform is accessible through any web browser, without the need to download or install any software. It offers a user-friendly interface and a range of advanced trading tools, including real-time market data and technical analysis tools.
XM Mobile App:
XM offers mobile trading apps for both Android and iOS devices. These apps allow traders to access their accounts, trade on the go, and stay up to date with real-time market data and news.
All of these platforms offer access to a range of financial instruments, including forex, CFDs, stocks, and commodities. They also offer a range of features, including multiple charting tools, technical analysis indicators, and trading signals.
In addition, XM offers a free demo account that allows traders to practice trading with virtual funds before risking real money. This is a great way for traders to familiarize themselves with the trading platforms and test out different trading strategies without any risk.
Trading Assets / Markets
XM offers a range of trading assets/markets for traders to trade on. These include:
- Forex: XM offers trading in over 55 currency pairs, including majors, minors, and exotics. Forex is the primary market that XM serves, and they offer competitive spreads, with some pairs having spreads as low as 0.0 pips.
- CFDs: XM offers CFD trading in a range of asset classes, including stock indices, commodities, and precious metals. Traders can trade on popular indices such as the S&P 500, the FTSE 100, and the Nikkei 225, as well as commodities such as oil, gold, and silver.
- Stocks: XM offers trading in over 1,200 stocks from around the world. Traders can trade on popular stocks such as Apple, Microsoft, and Amazon, as well as stocks from other markets such as the FTSE, DAX, and CAC.
- Cryptocurrencies: XM offers trading in popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
Overall, XM offers a wide range of trading assets/markets, allowing traders to diversify their portfolios and take advantage of different trading opportunities.
XM Spreads & Commission
XM does not charge any commissions on most trading instruments, but there may be a commission charged on certain stock CFDs, which will be specified in the trading platform. It's important to note that there may be other fees associated with trading, such as overnight financing charges,
Here's a table detailing the typical spreads and commissions for some of the most popular trading instruments at XM:
|Trading Instrument||Typical Spread (in pips)||Commission|
Here's a table detailing the maximum leverage available for different account types at XM:
|Account Type||Maximum Leverage|
|XM Ultra Low||1:888|
Note that the maximum leverage available for forex trading with XM is 1:888, which is higher than the industry average. However, the leverage available for trading CFDs on other instruments such as stocks and commodities is lower, typically ranging from 1:5 to 1:20.
This leverage applies to clients registered under the EU regulated entity of the group.
Here's a table summarizing the deposit and withdrawal options available at XM, along with any associated fees and processing times:
|Payment Method||Deposit Processing Time||Withdrawal Processing Time||Deposit Fees||Withdrawal Fees|
|Bank Wire Transfer||2-5 business days||2-5 business days||None on XM's side, but banks may charge fees||None on XM's side, but banks may charge fees|
|Credit/Debit Cards||Instant||2-5 business days||None||None|
Note that the processing times and fees listed above are subject to change and may vary depending on the specific circumstances of each transaction. Additionally, XM may require additional documentation or verification before processing certain transactions. Traders should always review XM's deposit and withdrawal policies and contact customer support if they have any questions or concerns.
XM excels in its demo account offering. Users can set up a demo account with just a few details and then get trading with a virtual balance of $100,000USD. The XM demo account is unique in that it offers exactly the same trading conditions as the real thing.
There are no time limits on how long you can use your demo account.
Bonus Deals And Promotions
XM offers various bonus deals and promotions to both new and existing traders. Here are some of the promotions that are currently available:
Welcome bonus: New traders can receive a 20% deposit bonus on their first deposit, up to a maximum of $500.
Loyalty program: XM offers a loyalty program that rewards traders with XM Points for every lot they trade. These points can be redeemed for credit bonuses, cashback rewards, and other benefits.
Reload bonus: Traders can receive a 50% deposit bonus on their second and subsequent deposits, up to a maximum of $500.
Free VPS service: XM offers a free virtual private server (VPS) to traders who meet certain trading requirements. The VPS service allows traders to run automated trading strategies 24/7 without needing to keep their computer on.
XM contests: XM regularly holds trading contests with cash prizes for the winners. These contests are open to all traders and provide an opportunity to test trading skills and win real money.
It's important to note that all bonus deals and promotions are subject to terms and conditions, which may include restrictions on withdrawals and other requirements. Traders should carefully review the terms and conditions before participating in any bonus deals or promotions.
XM offers a range of educational resources to help traders improve their knowledge and skills. Here are some of the educational resources that are available:
It offers regular webinars covering a variety of topics, including technical analysis, trading psychology, and risk management. These webinars are free for all traders and can be accessed through the XM website.
They provides a range of video tutorials covering topics such as how to use the MT4 platform, technical analysis, and trading strategies. These tutorials are available on the XM website and can be accessed for free.
XM regularly hosts forex seminars in various locations around the world. These seminars are designed to provide traders with in-depth knowledge about trading strategies and market analysis. Attendance is free for XM clients.
It offers a range of trading tools, including an economic calendar, market news, and trading signals. These tools are designed to help traders stay informed about market events and make better trading decisions.
In addition to providing educational resources, XM also offers trading contests with cash prizes. These contests provide an opportunity for traders to test their skills and compete against other traders in a risk-free environment.
XM's educational resources are comprehensive and cover a wide range of topics. Traders of all experience levels can benefit from these resources and improve their trading knowledge and skills.
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.
It offers customer support in multiple languages, 24 hours a day, 5 days a week. Traders can contact XM's customer support team through the following channels:
XM's live chat service is available on the XM website and allows traders to chat with a support representative in real-time.
Traders can contact XM's customer support team by email at firstname.lastname@example.org. Response times typically range from a few hours to a day, depending on the volume of requests.
XM offers phone support in multiple languages. Traders can find the appropriate phone number for their region on the XM website.
XM is active on social media platforms such as Facebook and Twitter, and traders can reach out to their customer support team through these channels as well.
In addition to providing support to traders, XM also offers a range of educational resources and trading tools to help traders improve their skills and knowledge. Overall, XM's customer support is responsive and helpful, and traders can expect a high level of service.
Safety And Security
XM takes safety and security very seriously and has implemented several measures to protect its clients' funds and personal information. Here are some of the ways in which XM ensures the safety and security of its clients:
Client funds are kept in segregated accounts separate from XM's own funds. This means that client funds are protected in the event of XM's insolvency.
XM uses SSL encryption to protect clients' personal and financial information. This ensures that all data transmitted between the client and XM's servers is encrypted and cannot be intercepted by third parties.
It offers two-factor authentication for added security. Clients can enable two-factor authentication on their accounts to require an additional verification step when logging in.
Negative balance protection:
It offers negative balance protection, which ensures that clients cannot lose more than the amount they have deposited in their trading accounts.
XM's safety and security measures are comprehensive and provide clients with a high level of protection. Traders can feel confident that their funds and personal information are secure when trading with XM.
XM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use XM from United States, Canada, Israel, Iran, Argentina.
XM is a reputable forex broker that offers a wide range of trading instruments, competitive trading conditions, and a variety of educational resources and trading tools. With its multiple regulatory licenses, negative balance protection, and high level of security measures, XM provides traders with a safe and secure trading environment.
Is XM a regulated broker?
Yes, XM is a regulated broker and is licensed by several regulatory bodies, including the ASIC, CySEC, and the IFSC.
What trading instruments does XM offer?
XM offers a wide range of trading instruments, including forex, commodities, indices, stocks, and cryptocurrencies.
Does XM offer a demo account?
Yes, XM offers a demo account that traders can use to practice trading with virtual funds before trading with real money.
What trading platforms does XM offer?
XM offers the popular MetaTrader 4 and MetaTrader 5 trading platforms, as well as a web-based platform and a mobile trading app.