XM Review

Overview of XM Trading

XM Review: Is This a Trustworthy Trading Platform?

XM Trading, formerly known as XeMarkets, is a globally recognized online forex broker based in Cyprus, offering users the opportunity to open accounts and trade on financial markets worldwide.

The company provides financial trading services via multiple electronic platforms, such as MetaTrader 4 and MetaTrader 5, allowing traders to deploy Expert Advisors (EA). They also have a proprietary mobile trading app, XM – Trading Point.

XM facilitates trading in contracts for difference (CFDs) on major indices and commodities like gold and crude oil, in addition to forex and, more recently, cryptocurrencies. The platform also offers investors the chance to open a Stock Account, enabling the direct purchase and sale of company shares, distinct from CFD trading.

The company’s headquarters are in Cyprus, with additional offices in Hungary, Greece, Australia, and New Zealand.

They are regulated by several prominent authorities, including ASIC, CySEC, IFSC, FSCA, FSC, and FCA, and have been in operation since 2009.

Is Trading with XM Safe? An Overview of Broker Regulation

When it comes to choosing a broker, one of the first things traders—whether new or experienced—look for is safety. The best way to ensure this is by checking whether the broker is regulated in the regions where they operate.

XM operates in various regions worldwide, meaning they need (or should) be regulated in those areas. XM is regulated by multiple authorities, including ASIC, CySEC, IFSC, FSCA, FSC, and FCA, making it generally considered safe.

It’s worth noting that some broker review sites may not list all of these regulatory bodies, as you’ll automatically be connected to the XM entity that oversees your region.

If you’re still wondering about their safety, XM has been around since 2009 without any major issues with their regulators. They’ve also won numerous awards over the years for their services as a broker, including:

• Best Forex Service Provider
• Best Customer Support
• Global Forex Broker of the Year
• Most Reliable Broker

These are just a few of the awards they’ve received, with more than 65 in total that you can view here.

What Products Can I Trade with XM?

XM offers a wide variety of trading products, allowing investors to create a diversified portfolio. Diversifying your investments is crucial to avoid the risks of concentrating all assets in a single basket.

Here are the products you can trade with XM:

1. Forex: More than 50 currency pairs, including majors, minors, and exotics: AUDCAD, AUDUSD, EURCHF, EURJPY, GBPCAD, etc.

2. Commodities: CFDs on 8 key commodities, such as coffee, cocoa, corn, soybeans, wheat, sugar, etc.

3. Energy: CFDs on 5 energy products, including oil and natural gas: Brent oil, natural gas, WTI oil, etc.

4. Precious Metals: CFDs on 2 precious metals: gold and silver.

5. Stock CFDs: Over 1,180 stock CFDs available.

6. Shares: Over 100 different stocks, primarily available through the Share account.

7. Stock Indices: Access to 14 cash indices, 10 futures indices, and 5 dividend indices.

8. Cryptocurrencies: CFDs on more than 31 popular digital currencies, including BTC, ETH, SOL, XLM, ZRX, SUSHI, LINK, and others.

9. Other Assets: Other potential assets for future trading.

One downside to trading with XM is that stock trading requires a separate account (Share account), which may sometimes cause inconvenience and unexpected additional costs for traders.

How to Trade with XM?

XM provides a wide range of trading platforms, including MT4, MT5, and a custom-developed mobile application by XM, designed to offer customers the most flexible and convenient trading experience possible. These platforms function seamlessly on PC/Mac, smartphones, and tablets running iOS/Android, as well as through the mobile app, enabling you to trade anytime, anywhere.

Key Features of XM MT4 Trading Platform:

• Over 1,000 Products: Includes forex, cryptocurrencies, CFDs, and futures.
• Single Login Access: For 8 platforms.
• Spreads Starting from 0.6 Pips: Competitive spreads across various instruments.
• Full EA (Automated Trading) Capabilities: Allows for automated trading strategies.
• One-Click Trading: Streamline your trading process.
• Technical Analysis Tools: Over 50 indicators and charting tools.
• Three Chart Types: Provides versatility in market analysis.
• Micro Account Option: Allows for smaller trade sizes.
• Hedging Capabilities: Includes the ability to hedge positions.
• VPS Functionality: For improved trading performance.

Key Features of XM MT5 Trading Platform:

• Over 1,000 Products: Includes stock CFDs, stock index CFDs, forex, cryptocurrency CFDs, precious metal CFDs, and energy CFDs.
• Single Login Access: For 9 platforms.
• Spreads Starting from 0.6 Pips: Competitive pricing.
• Full EA Capabilities: Enhanced automated trading features.
• One-Click Trading: For efficient order execution.
• Support for All Order Types: Market, pending, stop, and trailing stop orders.
• Over 80 Technical Analysis Tools: Expanded tools for market analysis.
• Market Depth of Latest Quotes: Offers a detailed view of market liquidity.
• Hedging Capabilities: Ability to hedge your trades.

Unlike many brokers that only support the MT4 platform, XM offers the MT5 platform with additional superior features, ensuring that investors enjoy the most optimized trading experience possible. With MT5, investors gain access to advanced features, including:

• Simultaneous Display of Over 100 Charts: Enhanced market monitoring.
• Support for All Order Types: Market, pending, stop, and trailing stop.
• Over 80 Technical Indicators and 40 Analysis Objects: In-depth market analysis tools.
• Advanced MQL5 Programming Language: For developing custom trading tools.
• Multi-Currency Tester and Alerts: Improved trading efficiency and alert systems.

XM Trading Platforms Comparison Table

This information highlights the versatility and robust features available on the XM trading platforms, providing traders with all the tools they need for effective and efficient trading across a wide range of assets.

XM Mobile Trading Platform

Trading has become more convenient than ever, thanks to XM's mobile trading app, which is continuously enhanced for better user experience.

With the XM app, traders can access Forex, cryptocurrency CFDs, commodities, stocks, and a wide range of other products. Orders are executed instantly without any requotes.

Traders can adjust account settings directly through the app, making changes on the spot. Deposits and withdrawals are also streamlined, allowing for quick transactions directly from your mobile device.

The XM mobile app offers a user-friendly interface, featuring advanced charts that update in real-time. With over 90 customizable indicators, traders can personalize their charting experience. The app also includes the latest news, market analysis, and research tools, enabling traders to stay informed while trading. Most importantly, the XM mobile app is compatible with the cutting-edge MT5 platform, making it suitable for both beginners and seasoned market participants.

XM – Trading Point

Another option for trading with XM is through their proprietary mobile application, XM – Trading Point. Similar to most mobile trading apps, this application can be downloaded on both iOS and Android devices. You can register through the app and start trading directly from your smart device at any time. Mobile trading apps simplify and speed up the trading process, particularly for those with hectic schedules, and the XM – Trading Point app is no exception.

Market Analysis and Research at XM

XM offers an extensive array of resources for traders looking to enhance their knowledge and skills. With a wide variety of online learning options, traders can choose the method that best suits their individual learning style.

Market Research

• Daily Market Overview: Stay informed with the latest market news updated daily, helping you keep track of global financial developments (available in English).
• Trading Signals: Get access to trading ideas that serve as valuable references for your decision-making process (available in English).
• Economic Calendar: Keep track of important economic events, meetings, indices, and information updated weekly/monthly to strategize your trading moves effectively.
• XM TV: Watch real-time market news brought to you by XM's dedicated news team, providing timely updates and insights (available in English).
• Podcasts: Enjoy educational content and market perspectives in audio format, perfect for learning on the go (available in English). This format is favored by traders who prefer multitasking while absorbing information.

Training Center

• Live Training: Whenever you're ready to learn, live classes are available for beginners, advanced learners in English, and advanced learners in other languages.
• Educational Videos: Access a library of video content ranging from basic to advanced trading knowledge (available in English).
• Platform Tutorials: Step-by-step guides on how to use the trading platforms effectively (available in English).
• Forex Seminars: Monthly Forex seminars conducted worldwide for traders looking to gain insights from industry experts.

XM Account Types

Is Negative Balance Protection Available with This Broker?

Yes, XM provides Negative Balance Protection for all five account types mentioned earlier. If your trading account goes into negative due to market volatility, XM will reset your balance to zero, ensuring that your other funds or accounts are not affected. This protection ensures that investors do not lose more money than they have deposited. This safeguard applies to all accounts provided by XM, including the Share Account.

This helps illustrate how the broker's protective measures apply to all types of accounts offered.

XM Deposit & Withdrawal

XM provides the flexibility to deposit and withdraw funds with a minimum of $5, offering multiple payment methods supported in various countries. This amount may vary depending on the withdrawal method selected and the verification status of your transaction.

XM covers all deposit/withdrawal fees for investors. For international bank transfers, XM will cover the deposit fees charged by banks, except for deposits under $200 (or equivalent in other currencies).

Deposit Methods Supported by XM:

• Local and International Bank Transfers
• Payment Gateway (Ngan Luong)
• Visa/Mastercard
• E-wallets: Neteller, Skrill, WebMoney, Momo

Withdrawal Guidelines:

• To prevent fraud and minimize the risk of money laundering and/or terrorist financing, XM processes withdrawals/refunds back to the original deposit source following the Priority Withdrawal Procedure: credit/debit card withdrawal, e-wallet withdrawal, and other methods.
• All withdrawal requests are processed within 24 business hours.
• Your trading account must be verified to make withdrawals.
• Funds are transferred based on the recipient's country. Typically, bank transfers within the EU take 3 business days, while transfers to some countries may take up to 5 business days.

Summary Table:

Customer Support Service at XM

With over 5,000,000 clients worldwide, XM has developed a professional customer support system available in more than 30 languages. With the business philosophy of “by ensuring customer satisfaction, we earn their loyalty,” they are committed to providing timely and optimal trading experiences and support.

Here are the three main ways to contact XM's customer support:

Email Support

XM's support team is available 24/5, excluding weekends and holidays. They guarantee a response within 24 hours. If you contact them on a weekend, expect a reply within the next 1-2 business days.

Contact Email: support@xm.com

Phone Support

Similar to email, phone support is available 24/5, excluding weekends and holidays. If you cannot reach them within this time frame, you may call back on the next business day or send an email for assistance.

Contact Phone: +501 223-6696

Live Chat Support

Live Chat is considered the most convenient and popular channel for all customers. You can contact them directly through the Live Chat on their website. Live Chat support is available in multiple languages 24/5, with English support available on weekends.

Languages Supported: English, Greek, Simplified Chinese, Traditional Chinese, Bahasa Malay, Bahasa Indonesia, Korean, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Portuguese, Czech, Slovak, Bulgarian, Romanian, Urdu, Thai, Nepali, Tagalog, Cebuano, Serbian, and more.

Customer Support Channels: Phone, Live Chat, Email, Help Center
Customer Support Hours: 24/7

Countries Restricted from Trading with XM

XM Global Limited does not provide services to residents of certain countries due to regulatory restrictions. These countries include, but are not limited to, the United States, Canada, Israel, and the Islamic Republic of Iran.

This means that citizens from these regions are not eligible to open accounts or engage in trading activities with XM Global Limited.

Table of Restricted Countries

This table provides a brief overview of countries where XM services are not available due to local regulations and restrictions.

Special Promotions for Customers

XM offers a variety of promotional campaigns for both new and existing customers. These promotions can vary based on the country of residence and the type of account opened by the customer.

$30 Trading Bonus: New customers who open an account with XM will receive a $30 trading bonus, credited directly to their account, allowing them to start trading without making an initial deposit.

Deposit Bonuses: XM offers two types of deposit bonuses:

• A 50% deposit bonus up to $500 (or equivalent in other currencies).
• A 20% deposit bonus up to $4,500 (or equivalent in other currencies).

These bonuses allow customers to trade with a larger capital base, providing them with more trading opportunities.

100% Deposit Bonus: Between November 15 and December 15, 2022, XM is offering a 100% deposit bonus up to $500. This bonus is designed to double the trading capital for customers making additional deposits during this period.

Refer a Friend Program: Loyal customers can earn $35 for each friend they refer to XM who opens an account and begins trading.

In addition to these promotional offers, XM also covers all deposit and withdrawal fees and provides a free Virtual Private Server (VPS) service. For more information about current promotions, visit the XM website.

Conclusion of XM Review

XM has been in operation since 2009 and is regulated by top-tier financial authorities, providing a reliable and secure trading environment. They offer a diverse range of assets, including the opportunity to open a Share account for direct stock purchases, making them a versatile broker suitable for various trading needs.

With an extensive library of educational resources, XM stands out as a broker committed to helping traders improve their skills. These resources include market overviews, economic calendars, live broadcasts (XM Live), podcasts, free and advanced classes, training videos, and in-person Forex seminars with industry experts. This wealth of information allows traders to choose the learning method that best suits their style, ensuring they can fully grasp the complexities of financial markets.

Moreover, XM is highly regarded for its security, as it holds reputable licenses from international financial institutions. The broker ensures client funds are kept in segregated accounts, separate from the company’s funds, providing peace of mind to its customers.

The variety of account types at XM is another advantage, catering to the needs of beginners, professional traders, and long-term investors. The low initial deposit requirement also makes it easy for new traders to start their trading journey with XM.

XM is generous in covering all deposit and withdrawal fees across various payment methods, which is an excellent benefit for traders looking to maximize their investment. With all these advantages, XM is undoubtedly a broker worth considering for anyone looking to enter the world of trading.

Frequently Asked Questions

Is XM a reliable broker? Yes, XM is considered a reliable broker as it is regulated by six top-tier financial authorities, including ASIC, CySEC, IFSC, FSCA, FSC, and FCA. The broker has been operating since 2009, which further solidifies its reputation as a safe and trustworthy platform.

How long does it take to withdraw money from XM? The withdrawal time at XM varies depending on the method used. XM offers withdrawal options via e-wallets, bank transfers, credit, and debit cards. On average, withdrawals using bank transfers or credit/debit cards can take around 2 business days.

Can I withdraw profits from XM? Yes, you can withdraw your profits at any time when trading with a non-deposit trading account. However, the account must have completed at least 10 micro lots (0.1 standard lot) and have at least 5 round-turn trades.

Does XM charge withdrawal fees? No, XM does not charge any withdrawal or deposit fees. All withdrawal and deposit transactions via e-wallets and bank cards are covered by XM, while bank transfer fees are covered for amounts exceeding $200.