This is a complete XM Review updated for 2020. Here, we will break down all of the pros and cons of for you. Read on to find out about’s fees, their withdrawal options, and the countries that they offer their services in. You will also find out whether the broker is regulated and who they are regulated under. 

XM Review

XM Review – Read Our In-Depth XM Guide is an online Forex and CFD (stocks, indices, and commodities) broker. They have a strict policy of no re-quotes and no rejections. They are one of the largest online brokers who were founded in 2009. offers flexible trading conditions for more than 1000 financial instruments. They were established to meet the needs of smaller traders and bigger investors with no bias. The same fair conditions and terms of trade apply to any trader who uses this platform.

If you are opting for, you should also know that they offer the same conditions for both the real accounts and the demo accounts. 

XM Review – Who Founded was founded by Trading Point Holdings which now owns it. Trading Point Holdings owns both and They are regulated by the International Financial Services Commission (IFSC) in Belize, the Cypress Securities and Exchange Commission (CySec), and the Australian Securities and Investments Commission (ASIC).

The platform has clients over 1.5 million with traders in 196 countries. They offer a personalized approach to customer service and address all queries promptly. They have their head office in Limassol, Cyprus. They also have offices in Athens and Sydney. 

XM Review – Benefits of Trading with

There are several benefits of trading with We have outlined them below.

  • offers more than 55 currency pairs for you to trade with. These include majors, crosses, and exotic currencies. 
  • They are also available 24 hours a day for 5 days a week. 
  • They also offer tight spreads with no re-quotes. 
  • They are extremely transparent. With, you will be able to go ahead and trade with no hidden charges involved. 
  • As you use, you will also find that they offer excellent customer services. They offer email, phone, call-back, and live chat services.
  • XM. Com offers extremely affordable minimum deposit requirements. This can be as low as $5 for a micro or standard account.
  • Every trader can have 5 demo accounts as practice accounts before they begin trading.
  • is a versatile trader that offers more than 1000 trading instruments.
  • They also offer customer services in more than 30 languages. Hence, traders from around the world can conveniently address their queries.
  • offers the MetaTrader 4, MetaTrader 5, and XM Web Trader platform that traders can use anytime and from anywhere.
  • They offer extensive educational resources with a beginner course available for new traders.

XM Review – What Should You Know About Trading with

If you choose to trade with, you will have access to Forex, energies, CFDs on stock, precious metals, soft commodities, and indices. In addition to this, you will find over 1000 instruments to trade-in.

In Forex, there are more than 55 pairs available. As for CFDs, you will find more than 100 Germany, UK, and US shares available to trade. The CFD platforms that you will access will be based on your country of residence. 

You will also find more than 1100 stock CFDs. Here are 7 popular soft commodities available for you to trade. A client will also have access to 2 precious metal CFDs and 5 energy CFDs. 

18 of the largest country stock indices in the world are also available to trade on Hence, with this vast collection, the platform is versatile to suit each trader’s needs.

They accept traders from about 215 countries and territories. However, they do not offer CFDs in the US. Clients from the US cannot trade in CFDs on the platforms. also does not offer trading services to the residents of Canada, Israel, and the Islamic Republic of Iran.

With, you will only have to deposit an initial fund as low as $5 for the Standard and Micro Account. If you are opting for the XM Zero Account, you will have to deposit $100. If you would first like to practice, you can go ahead and opt for the demo account on 

XM Review – Is Safe to Trade with? is a large and regulated company that is safe to trade with. This broker has executed more than 1.4 million trades to date. Further, they are regulated by some of the most stringent organizations. 

The first entity founded under the name Trading Point of Financial Instruments Ltd. is regulated by CySEC under 120/10. They are also regulated by the ASIC in Australia and the FCA in the UK.

XM Global was established in Belize in 2017. They are regulated by the IFSC. With these regulations in place, the broker ensures that your money is safe. Your funds will be kept in separate bank accounts that will not be able to access in case of insolvency.

The funds that you deposit will not become an asset of at any point. Hence, their creditors cannot claim it.

They also offer negative balance protection so that you can minimize any losses. If you do incur a negative balance during trade, will reset your account balance to zero. 

XM Review – Pros and Cons of Trading with

As with other brokers, has a few pros and cons that traders will have to note before they register and trade. We have outlined these for you below.


  • Support available in nearly 30 languages
  • Trustworthy broker with negative balance protection 
  • Regulated by a few stringent financial organizations
  • Offer Webinars all days of the week in 19 languages
  • More than 1000 trading instruments available
  • Relatively low deposit required for trading


  • Offers variable spreads that novice traders will need time to understand
  • Platforms are not as intuitive
  • Cryptocurrency CFDs are not available to trade in
  • The long withdrawal time of about 5 days in a few accounts
  • Inactivity fee charged if the account is not used for 90 days

XM Review – Regulation and Licensing in More Detail, under XM Group, is regulated by three authorities.

It is first regulated by the International Financial Services Commission (IFSC). Here, XM Global Limited is licensed by IFSC under license number 000261/106. 

It is also regulated by the Cypress Securities and Exchange Commission (CySEC). A broker who is registered under CySEC is supposed to operate transparently. With this, you can expect all your funds to be kept in a segregated account which the broker cannot access. With this, your money will be kept safe and cannot be abused. 

Further, any creditors of will not be able to lay claim on this money. This is because CySEC ensures that your funds do not become an asset of the broker they regulate. Further, brokers also have to submit an independently audited financial report to the authority. Together, all of this works to keep your money safe when you trade with

 This is under the license number 120/10. is further regulated by the Australian Securities and Investments Commission (ASIC). Both these regulations apply to’s parent company Trading Point of Financial Instruments Pty Ltd. 

The ASIC is a stringent regulation body and is very reputable. Brokers under the ASIC should adhere to important industry standards and conduct regular audits. The ASIC ensures that the funds of the clients remain safe.

If the broker faces any insolvency, the ASIC ensures that the client’s funds are retrieved and returned safely. 

The broker is also registered in several other countries like Germany, Spain, and France among others. With this, the broker offers a safe and secure environment for trading. Your funds will also be kept safe. 

XM Review – Awards

This broker has several awards to its name. These point to’s excellence across various award genres. Read ahead to find out.

Forex Services Awards

  • Best FX Service Provider for 2020 by the City of Wealth Management Awards
  • Best Customer Service Global 2019 by Capital Finance International Magazine (
  • Best Market Research and Education Global 2019 by Capital Finance International Magazine (
  • The Best FX Service Provider for 2019 by the City of Wealth Management Awards
  • Best Forex Customer Service by Shares Magazine 2018

Forex Broker Awards

  • Most Reliable Broker- Global by Capital Finance International Magazine (
  • Most Transparent Broker – Global by Capital Finance International Magazine (
  • Best Online CFD & FX Trading Broker – Global by
  • Best Customer Service Experience – Global by Global Business Awards 2020
  • Best FX Broker for Europe 2020 by World Finance Magazine 
  • Best FX Broker for Australasia 2020 by World Finance Magazine
  • Global Forex Broker of the Year by Global Forex Awards 2019
  • Best Broker by Fintech Age Awards 2019

Forex Platform Awards

  • Best Forex Platform 2015 at the International Investment & Finance Expo, 5th China Investment Expo
  • Best Financial Trading Platform 2015, 8th Saudi Money Expo

In addition to this, has also won the Excellence in the Financial Industry Award by World Finance 100. With this extensive range of Awards, this broker has been considered one of the best Forex brokers and platforms in the industry.

XM Review – Commission and Fees Explained

Every broker has a specific set of fees that their accounts are attached with. Read ahead to fund the fees and commission for explained. Minimum Deposit

With, you can choose from three different account types for trading. These are a Standard account, a Micro account, and an XM Zero account. For the Miro account and the Standard account, you will be charged a minimum deposit of $5. 

For the XM Zero Account, you will be charged a minimum deposit of $100. You can go ahead and choose a Forex account or a multi-asset account to deal with multiple instruments. Once you open an account, you will have access to the XM member section.

Here, you can go ahead and check your positions and leverage, claim promotions, and access the trading tools offered. Withdrawal Fees Explained

With, you will not have to pay any withdrawal charges. The exact amount that you transfer from your account will be reflected in your bank account once you withdraw. You can use bank transfer, credit or debit cards, and electronic wallets to withdraw your fee. 

However, do note that you have to withdraw a minimum of $5. It is also important to know that your fees will have to be withdrawn to the source of the deposit itself. Each withdrawal request will be completed within 24 hours.

It takes about 3 to 5 days for the withdrawn amount to show in your bank account. This depends on the country that the funds are being withdrawn to. Do note that this is true for wire transfers. All transfers are processed on business days and within 24 hours. Inactivity Fees Explained

If you have not used your account with for 90 days, it is then considered to be dormant. What does this activity mean? It simply means that there was no trading, withdrawal, deposit, or internal transfer made during this period. 

Any additional trading account registration will also be absent during this period. Any remaining bonuses and promotional credits will be removed from an inactive account. In these accounts, a monthly fee of USD 5 of inactivity fee is charged.

If the free balance is less than $5, this amount will be deducted. If the free balance is $0, no charges will be imposed. Hence, you may want to be careful not to leave your trading account with inactive for too long.

Do note that may cancel any pending orders if you have not been active on the platform for more than 30 consecutive days. Deposit Fees Explained

You will have to deposit an initial amount of $5 or $100 depending on the account you are opting for. However, to make any deposit on, you will have to deposit a minimum fee of $5. You can use credit cards, electronic payment methods, local bank transfers, or any other payment methods for the same. 

You may also want to note that will let you deposit any currency of your choice. This will automatically be converted into the base currency of your account. All deposits will reflect in your account instantly.

You may also want to note that covers any transfer fees imposed by the banks. This is true for withdrawal and deposits and applies even to international wire transfer. However, this is not true for deposits that are less than $200.

XM Review – What Can You Trade With offers various kinds of trading with more than 100 financial instruments available. Read ahead to know what you can trade with

XM Review – Forex

You can go ahead and trade your Forex with You will be given access to more than 55 currency pairs. These will include majors, crosses, and minor currency pairs. You can trade in Forex 24 hours a day, 5 days a week.

You will find currency pairs such as AUD/USD, EUR/GBP, and EUR/USD available. 

XM Review – Stocks CFDs

With, you will have access to equity markets from across the globe. The access is instant and direct. You can use this for both your short-term and long-term trading needs. There are no extra fees applicable here. 

Stocks from Germany, Sweden, the USA, the UK, and many other countries are available.

XM Review – Commodities

With this, you can go ahead and trade Futures CFDs on Commodities like Coffee Sugar and Wheat can be traded here. This requires low deposits and works well for novice traders.

XM Review – Equity Indices

With, you will get direct and instant access to trading in equity indices. With several markets represented, you can go ahead and trade. You will be offered low margin requirements.

XM Review – Precious Metals

You will be able to trade gold and silver online. There will no re-quotes on these precious metals. offers access to highly liquid markets and a leverage of up to 888:1. You will be offered specific spreads based on the accounts you use to register with. 

XM Review – Oil and Energies Trading

With, you will be offered a volatile environment for oil and energies trading. It is the most actively traded commodity in the world. You can also go ahead and begin trading with a margin of just $5.

XM Review – Shares offers shares from the USA, UK, and Germany. For US shares, the commission is $0.04 and a minimum of $1 commission per transaction. For the UK shares, a minimum of $9 is charged per transaction. You can expect a minimum charge of $5 commission per transaction for German shares. 

XM Review – What Accounts Does Offer? offers three types of accounts. These include the Standard account, the Micro account, and the XM Ultra-Low account. You can also open a demo account if you want to get a feel for the platform first.

With the Standard account, you can opt for USD, GBP, EUR, JPY, AUD, CHF, ‎ HUF, RUB, PLN, SGD, or ZAR as base currency options. There will be no commission charged. Further, the spread will be as low as 1 Pip. You will need a minimum deposit of $5 with this account. With a standard account, you can trade in standard lot sizes of USD 100,000.

You can also opt for the Micro account if you want to make a significant profit once you progress from a demo account. You will be offered the same currency pairs as with the Standard account. You will have to deposit a minimum of $5. 

With the Micro account, most traders have an account balance of anywhere between USD 1,000 and USD 10,000. With this, you can trade with just a fraction of the standard lot size. The Micro account also has a spread as low as 1 Pip and charges no commission.

You will also find the XM Ultra-Low account on With this, you have to make an initial deposit of $50. EUR, GBP, USD, ZAR, AUD, and SGD are the base currency options available to you.  You can opt for the Standard Ultra where 1 Lot is USD 100,000. You can also opt for the Micro Ultra where 1 Lot is USD 1,000. With this, the spread is as low as 0.6 Pips. also offers a Shares account. With this, the minimum balance is $10,000 and no leverage is offered.

XM Review – Are Demo Accounts Available with

Yes, you can try before you go ahead and deposit funds and buy an account. This can be done through the Demo account offered by This free Demo account is popularly used by novice traders who are just getting hold of trading.

These demo accounts have no expiry date and traders can go ahead and experiment with multiple strategies if they like. With, you can use their Demo account to practice trading in the live market.

This demo account can be used for as long as you like. It replicates real trading conditions for you but you won’t have to face the risks tied to real-world trading. If you’re wondering how you can practice, offers virtual currency.

With this, you can go ahead and trade and not lose any real money. You can also test your strategies multiple times to see what works best for you. Further, there is no rush. You can take your own time to get accustomed to the trading platform and learn how to trade.

If you are an absolute beginner, we recommend that you try using the Demo account before you begin trading on This will familiarize you with market trends and charts. You will also know how to close and open orders.

Once you understand the trading platform using a Demo account, you can go ahead and progress to the Micro Account. While the demo account does give you a feel for the trade, it does not expose you to the pressure and emotions tied to real-world trading. 

By using a Micro Account once you use the Demo Account, you can gain a holistic learning experience. With this, you can conduct all future trades with confidence.

XM Review – Funding and Withdrawal Methods

With, you can deposit funds using a debit or credit card. These may be Visa, Visa Electron, Maestro, and MasterCard. However, do note that credit and debit cards have a limit. The deposit amount will also reflect this amount.

You can also opt for electronic methods. These have no fee and include Neteller, Skrill, and Union Pay. For Skrill and Neteller, you will find that the deposited amount will be credited to your Forex account immediately. It may take about 24 hours for Union Pay.

You can also opt for banking and wire transfers. These may take two to five days to be credited.

As for withdrawal in, You can use Visa and Visa Electron credit and debit cards. You can also go ahead and use Maestro and MasterCard credit cards. You can also use Unionpay for the same. There are also bank wire transfers available for withdrawal. These may take 3 to 5 days to reflect in your account.

This is an especially great option if you are withdrawing huge amounts.

How Can I Start Trading with

To begin trading with, you will first have to get a trading account with them. For this, you will have to register on With the registration process, you can open the account in just a few minutes.

You can do all of this online and won’t have to submit any documents directly to XM. You will first have to fill in your personal information like name and address. Ensure that these are accurate.

You will then have to provide them with proof of your identity and address.  For proof of your identity, you can submit your passport, driver’s license, identity card, or any document issued by the authorities. 

This document should have your full name, your birth date, and your signature. It should also include a tax identification number and signature. 

For proof of address, you can provide your utility bill or a bank account statement. This has to be dated within the last 6 months and should confirm the address that you have registered. Do note that a handwritten address on a passport will not be accepted.

You can either upload these documents in the Member Area of or you can send it to their compliance team by email. Do note that a corporate account with will require many other documents.

Once you register, you will have to deposit the minimum amount required to trade on’s accounts. You can log in to the MT4 or MT5 platforms and begin trading. You will also have to agree to the terms and conditions of

You may also want to note that you can open multiple types of accounts once you register. However, it is recommended that you link each of these with the same email address. If you do this, you can go ahead and use the same Members Area for each account. 

If you want a fresh start, you can go ahead and use a new email address. You may also want to ensure that operates and offers services to residents of your country. With this, you can get your account and begin trading.

XM Review – Performing trades with

At, you can begin to perform trades by choosing a platform first. These are also called trading platforms or software. offers one of the best trading platforms available in the market called MetaTrader. 

With, you can make use of the MetaTrader 4 and MetaTrader 5 platforms. There are the MT4 for PC, MT4 for Mac, MT4 Multiterminal, and MT4 WebTrader. You will also find MT5 for PC, MT5 for Mac, and the MT5 WebTrader.

These are also available for Android and iPhones on mobiles and tabs. With these platforms, you will have access to custom indicators and Expert Advisors. You can trade with just one click. You may want to note that you can use the MT4 for all instruments available at However, individual stocks may be available only on MT5. 

With, you can begin performing these trades on any platform that you are comfortable with. You will have to execute a minimum trade of 0.01 Lots to begin. A maximum trade of 50 Lots is allowed by However, the number depends on the account that you open with XM. is also a Market Maker. This means that they will have lower deposit requirements than brokers who are not Market Makers. Hence, also offers no commissions on the trades that you execute. 

The broker also has a no-requotes policy. This simply means that your trades won’t show a different price than what they were executed at. However, will have margin requirements. This depends on the instruments that are being traded.

As you go about trading, you will also notice that offers various risk-minimizing features like stop losses and negative balance protection. With this, you can go ahead and begin trading.

XM Review – Leverage and CFDs Explained

Leverage refers to the amount of money that a client borrows to be able to finance their assets while trading. With, you will be offered maximum leverage of 1:888.

For beginners, the Micro account is recommended. Here, you will gain leverage of 1:500. This comes with a 1 Pip spread and no commissions. You can have a maximum of 150 orders open at any given time with this account.

You can also opt for a Standard account which offers a maximum leverage of 1:400. You can have 300 orders open simultaneously with this account.

With the XM Ultra-low account, you will be allowed a leverage of up to 1:888. You can have 400 orders open simultaneously on this account.

Do note, however, that like any reputable XM review we need to make you aware that both profits and losses are maximized by leverage. Hence, it is best to leverage your trade wisely. 

With, you will also be able to trade more than 1000 CFDs on stocks. They even offer a 15% deposit bonus. The CFDs that you trade with on will have no re-quotes and also offer competitive spreads. 

XM Review – Limit Your Risk With Negative Balance Protection

One of the best features of using for trading is that it offers you negative balance protection. It has continued to offer this despite the most difficult market conditions. has stood up to this reputation even in the past. In 2015, there was an exceptionally volatile market when the Swiss National Bank decided to abandon the EUR/CHF floor. At this point, continued with its negative balance protection.

To keep to their strength and reputation, they reset the negative balance sheets of all clients involved. During any trading result, your account balance may become zero. No fees will be charged to any account whose balance is zero. This is the negative balance protection offered by at work. 

If the balance goes below zero to a negative figure, will cover the exceeded loss. They will fix this negative balance to zero. If the account balance remains negative, you can contact customer service and they will fix the account balance to reflect zero. 

XM Review – Limit Your Risk by using Stop Loss and Stop Limit Orders recognizes that managing your money is a crucial part of trading. With a good money management system, you can go ahead and minimize your losses. One of the best ways to do this is by using a Stop Loss. offers clients the choice to attach a Stop Loss to their orders. This can be attached to a Market Order. A Market Order is one where the order is instantly executed at the market price provided by the company. This order limits the client’s loss when the market moves against the client.

The client can also attach a Stop Loss to a pending Order. Pending Orders are ones that are executed at a later time when the market price approaches one that was set by the client.’s trading facility will then go ahead and execute the order. With this, the client can access the Buy Limit, Buy Stop, Sell Limit, and Sell Stop orders.

A Stop Loss order can be attached to any of these pending orders. However, do note that the pending orders may be canceled if the client has no activity for 30 consecutive days.

The Stop Limit Orders of Buy Stop and Sell Stop can be used for limiting your losses and managing risk. 

XM Review – Educational Resources available

While completing this XM review we found that they offer several educational resources to their clients. These are especially useful to novice traders and even experienced traders can use these to brush their skills up. These educational resources are also extremely important to help you minimize your risk while trading.

Using leverages with a broker may make it seem like you will gain huge profits. While this is true, it may also cause huge losses. Hence, it is best to understand the tools of trading, technical analysis, and risk management before you begin trading. 

You can do this using the educational resources at

For a beginner trader, offers several new trading courses. There is a beginner course for the same. This course has 6 chapters that cover various aspects of trading. With the first chapter, you will learn the basics of Forex.

You will learn what trading is, about trading styles, demo trading, and how you can begin. With the second chapter, you will learn how to master technical analysis. With this, you will be able to differentiate between the types of charts, support and resistance, Fibonacci trading, and Stochastics, among others.

With the third chapter, you will learn how to build a winning trade. You will learn how to build your trading system in 6 steps, identify the position of the market, and find support and resistance levels. 

The fourth chapter will teach you to trade with excellence. With this chapter, you will learn about the elements of successful trading, managing money, and trader’s psychology. For several traders who take part in long-term trades, fundamental analysis may be essential to learn.

You will learn about fundamental analysis, the flow of money, news trading, and carry trades. The final chapter will deal with the major currency fundamentals. You will know how about currencies in the United States of America, Eurozone, Japan, Australia, and Switzerland. 

They also offer extensive research resources. This includes Market Overviews, Trade Ideas, and Technical Summaries. The Latest Analysis area will take note of the current economic news. It will analyze this to point the direction of the trade and how traders can benefit.

You can also use the platform to keep abreast of stock market news. You may also want to pay attention to the Economic Calendar provided by This offers an overview of currency pairs like EUR/USD, GBP/USD, USD/JPY, and EUR/GBP. also offers XM TV. With this, you can watch daily Forex news including Technical Analysis and Forex Outlook. is also a podcast that gives various insights. A podcast discusses Global Market Insights, Futures, Forex, and Stocks. Another discusses Equities. 

There are several podcasts along these lines. They also offer periodic webinars and interested traders can choose to learn from this. 

XM Review – Customer Support available

With, you can expect excellent customer services. The broker prides itself on offering some of the best customer services in the industry. They offer these services in several languages. 

These include Chinese, English, French, Greek, Hindi, Turkish, Thai, Malay, Polish, and Korean among others. Read ahead to find out about the various customer services offered by

They also have several awards for their customer service. However, do look at their Frequently Asked Questions (FAQs) before you approach customer service. This will give you quick answers at your fingertips.

XM Review – Live Chat offers live chat services that work incredibly well. A customer service representative responds in about 30 seconds. You can use the website to send messages. 

The live chat also works very well with several languages. With extensive resources, they will quickly resolve any issues you may be facing. 

XM Review – Phone Support is extremely responsive on call and the service representatives often respond in less than 5 minutes. They take the time to listen and answer all your queries regarding the platform over a call.  

They offer this service in several languages and offer excellent support in these languages. You can contact the phone support at at +501 223-6696.

XM Review – Email Support

With, you can also go ahead and send an email with your queries on them. The email support is excellent and they will answer you in a matter of hours. It may even take as little as 15 minutes at a time. 

You can go ahead and email at

Do note that all of these services are available for 24 hours on 5 days a week. 

XM Review – What You Will Need to Open an Account with

With, opening an account will require several documents. This fact is a bonus as it means that is meant to be accountable to other financial authorities. 

These include regulation and licensing under the International Financial Services Commission (IFSC), Cypress Securities and Exchange Commission (CySEC), and the Australian Securities and Investment Commission (ASIC).

These are reputed financial authorities that offer some of the most stringent rules. is required to conduct some financial audits for these authorities. To keep all of this in place, you will be asked for documents that also indicate that you understand the trading risks involved.

Make sure to keep a colored scanned copy of your Passport, your driver’s license, or your national ID at hand. You will also require a utility bill or a bank statement from the past three months. This will indicate your address.

You will also be asked to indicate just how much trading experience you have. For this reason, it is a good idea to take the time to answer it honestly. If you are a novice trader, you can use several resources available at once you register. This will give you an idea of the trade.

You will have to pass this compliance test first. This may take a couple of days at most. You will be able to conduct the trades on only when you have passed compliance. You can also go ahead and experiment with’s demo account if you like. 

This will give you an idea of just what you will be signing up for. You will also have to agree to the terms and conditions of before you register and begin trading. These may also include a disclaimer that trading is a risky business and that you should take calculated risks as you trade. 

So far, you have gained a detailed insight into the background of XM. Now let us get to the exciting part of using the XM trading platforms.

XM Review – How to Trade on the XM Platform.

Once you have created and validated your XM account, you will be prompted to choose one of its available platforms. XM offers two platforms to trade on—MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

MetaTrader 4 (MT4): If you want to focus on forex trading only, MT4 is a great option. It has been in existence for over 10 years, offering multiple services such as buying and selling, analysis tools, etc. It is user friendly and highly customizable, perfect for both beginners as well as experienced professionals.

MetaTrader 5 (MT5): Offering a multitude of assets, MT5 provides trading services in equity indices, energies, precious metals, cryptocurrencies, and individual stocks. This platform lets you diversify your investments.

You have the choice of accessing these platforms through Windows PC as well as Mac. Moreover, they are also compatible with both iPhone and Android mobile devices. The best thing about XM is that you can trade here within a few clicks. If you choose to install WebTrader 4 or 5 on your browser, the process will be completely hassle-free.

Though the basic working of both platforms is similar, MT5 has an improved user experience. It gives you advanced charting tools, timeframes, and much more. Following is a detailed discussion on MT5 as that is a higher version, offering multiple trading options.

XM Review – Dashboard Explained

As soon as you download MT5 and login, you will get to the main screen, which will look something like this.

XM Review dashboard

You can see the toolbar at the top that gives you quick access to various tools and features. At the front is the chart window that displays the performance history of a particular instrument. If you see on the left side, the market-watch window is available at the top.

By default, the symbol option is chosen. It consists of a list of symbols along with their real-time quotes or bid and ask-prices. Right below this lies the navigator window that allows you to access your accounts, advisors, indicators, and scripts.

Lastly, you can see the toolbox window present at the bottom of the page. It gives options like trade, exposure, alerts, news, etc.


It gives you quick access to add changes to the types of charts such as line, bar, and candlestick. Next, you can access various other chart tools such as auto-scroll, zoom, shift, etc. To have the access to the complete chart toolbar, you can click View > Toolbars > Chart.

XM Review Toolbar

It will also allow you to use the Periodicity tab that lets you choose a particular timeframe. MT5 has a total of 21 timeframes in terms of minutes, hours, and others. It allows you to conduct a detailed analysis.

XM Review Toolbar

Following the chart toolbar, you can see several objects such as placing horizontal, vertical, and trend lines. You can get a detailed view of these by clicking View > Toolbars > Line Studies.

Chart Window

A chart is one of the most important analysis tools for a trader. It helps to study the performance of an instrument, letting investors predict its future behavior based on its past trend. You can see three types of charts at MT4 as well as MT5 platforms.

Types of Charts

Bar Chart: It is the most common type of chart and is also usually the default one. A bar chart consists of vertical lines, each of which displays periodicity, such as 1 hour for H1.

XM Review Bar chart

The small bars at the side or the tics indicate the opening (left-side) and closing (right-side) price of the instrument.

Line Chart: It is the most basic chart, represented by a line. A line chart only shows the closing prices of the instrument. Though these charts do not give a detailed understanding of the instrument performance, they can deliver a decent overview.

XM Review Line Chart

Candlestick Chart: This is the most complex chart but also one of the most informative ones, making it popular among traders. The candlestick chart displays high, low, open, and close prices, just like a bar chart. However, candles are easy to analyze.

xm review candlestick chart

The body of each candle represents the periodicity or period. It has a vertical line on top as well as below, which is called the wick. While the upper end of the wick shows the highest price, the lower end displays the lowest.

The upper and lower ends of the main body or rectangle represent the closing and opening prices, respectively. As you can see in the given picture, a candlestick chart may have a white candle or a black one.

xm review candlesticks

During a specific period, if the closing price of an instrument is higher than the opening, the candle will be white. Alternatively, if the closing price is lower than the opening one, the candle body will be black.

Chart Tools

You can change the properties of a chart, such as move it to the foreground, its type, scale, etc. It is available by clicking the ‘properties’ icon on the chart toolbar. Here, you will get three options—Common, Show, and Colors.

xm review chart tools

Clicking the ‘Show’ option can let you access more settings. It will display further details on the chart, easing your analysis work. As represented by the given image, you get the option of making different types of information visible on your chart.

xm review chart tools

All of these options hold importance at various levels. In the given picture, the ‘Show Ticker’ is checked. Thus, it shows the trading symbol name, followed by the timeframe and a comment (EURUSD, H1, Euro v.s US Dollar).

Choosing the OHLC box will show a line representing the Open, High, Low, and Close prices. Another essential tool is the ‘Show Quick Button.’ Checking this box will present a quick trade panel on the chart.

xm review chart tools

The red button here represents the quick trade panel, letting you instantly buy and sell the instrument. Similarly, you can check other boxes of price lines, volumes, separators, etc. The third option—Colors, will let you change the colors of the various lines, objects, grids, background, etc.

XM Review Chart Tools Options

Chart Switch Bar: Present at the bottom of the chart window, this bar lets you instantly switch between charts.

When you double click at one of these tabs, you will be able to get a multi-chart view. The best part about this feature is that you can simultaneously analyze two or more instruments.

Overall, charts can help you to study various trends, patterns, and other aspects of the instrument behavior. The study becomes a piece of cake with analysis tools such as lines, indicators, averages, and more. Some of these are discussed in the further sections.

Market Watch Window

The Market Watch window offers a clear overview of the price statistics of various instruments. Here, you can see the bid and ask prices along with each symbol name. That is, in the default option—Symbols.

XM Review Market Watch window

The details window represents the behavior of currency pairs towards each other. Whereas, the trading window lets you buy or sell specific pairs.

Navigator Window

Moving below the market watch is the navigator window. It lets you switch between all your different accounts in a click, be it other real accounts or demo ones. Next, you can access the various indicators from here. A few of them are discussed as follows.

Moving Averages: It helps to determine the direction of price flow or the trend. You must know that it doesn’t help in predicting, but explains the current situation. It represents the average value of a security’s price for a given period. Moving averages are lag indicators.

For example, to calculate the moving average of 20 days, the closing prices of each of those is first added. Then it is divided by 20.

Oscillators: These are different from the moving averages as they are leading indicators, not lagging ones. Oscillators help by warning you of the forthcoming price trends. They can reflect the loss of momentum, extreme conditions like overbought/oversold, divergence, etc.

Individual Momentum Indicators: Some other indicators have distinctive attributes such as Relative Strength Index, Stochastics, Momentum (Price Roc), and more. These indicators also help in measuring the velocity of movement in price.

Other Indicators: Bollinger Band helps to analyze market volatility, while Pivot Points can be used to get an insight on market sentiment. There are multiple other useful indicators, such as Parabolic Stop and Reverse, Average Directional Index, etc.

Apart from the accounts and indicators, a navigator window in MT5 lets you address expert advisors and scripts. These advisors are trading systems that can help you analyze the instruments quickly and efficiently. Scripts are designed for executing one-time actions.

Toolbox Window

The toolbox window lets you instantly check trade, account history, mailbox, alerts, journals, news, and much more. From this window, you can also manage the trade orders and positions.

XM Review – News Feeds

Keeping yourself updated on the recent global news is highly essential. Yes, you can keep an eye on the current prices. Still, knowing about the various economic, social, and political ongoing can give you an upper hand. XM knows that, which is why it offers a section encompassing the latest news.

xm review news feeds

When you click on the Research & Education tab, you can spot the option of News in the menu. XM’s news feed gives you an insight into every current issue that could affect trading in any way. The best part is that you can keep track of fresh news while you trade.

That said, you must know that though it is a significant factor, you must not base your decisions solely on this. News alerts often raise market volatility, which can be a reason for loss if you don’t act quickly. Weigh your options, and do it fast.

XM Review – Trading Resources

Are you a beginner at trading? New or experienced, XM has a learning platform that can benefit you in multiple ways. From research to learning centers and tools, this broker offers a plethora of resources for you. All of this is present in the Research & Education tab of the XM website.

The market overview, trade ideas, technical summaries, etc. can help you level-up your analysis. The research section also offers the latest news, economic calendar, XM TV, and podcasts to keep you updated.

Not enough? From forex webinars, seminars, and educational videos to live learning, you can access everything for free. Yes, XM helps you gain knowledge not only about the platform but also about trading in general. You can also have the access to various trading tools, MQL5, and forex calculators.

XM Review – Is XM a Good Broker?

It all comes down to the question that is XM a good broker or not? To be honest, it highly depends on your thinking. Still, considering the multitude of aspects that XM excels at, it is not wrong to say that yes, XM is a good broker. Here’s why.

XM has been in the business for over 11 years, constantly serving its clients. The company offers CFDs and Forex, with a good track record. Additionally, it is efficient in processing requests, with your deposits and withdrawals getting done within 2-3 days.

It is regulated by recognized institutions such as the Australian Securities and Investments Commission and International Financial Services Commission. XM also falls under the jurisdiction of the Cyprus Securities and Exchange Commission. Its authenticity is unquestionable.

What’s more? XM is available in 20 international languages and has a strong global presence. Its reach in different countries allows the broker to offer services in your local language. Trading couldn’t be easier!

XM Review – Risk Disclaimer

Each and every instrument that you trade, be it tangible or intangible, have varying risks. XM helps you trade but is not responsible for any losses that you may incur in the course of trading. Moreover, it cannot make any guarantee on your investments.

You must know that if you choose to conduct trade of any sort, your investments may be at risk. The value of the securities may fluctuate anytime, resulting in unpredictable outcomes. You are the sole individual responsible for your actions of buying, selling, and investing.

Before deciding on trading at XM, you must carefully read its terms and Conditions.

XM Review – Frequently Asked Questions

Can I try XM before I buy?

Yes, you can use XM for an unlimited period before you make any deposit. The platform offers the option of having multiple demo accounts. The best part is that you will get the virtual currency of up to $100,000 to practice.

With this money, you can trade on the live market and test your various strategies. Moreover, it will let you gain a detailed insight into how XM and the trading environment works.

What funding methods does XM accept?

XM offers multiple ways to deposit and withdraw money. However, your place of residence may affect the availability of a particular option.

At XM, you can make a deposit or withdrawal through bank wire transfer, credit card, electronic wallet, and local bank transfer. Various other options include Neteller, JetonGo, Skrill, Sticpay, Jeton, and others.

Is XM safe?

XM is regulated by three globally-recognized associations, making it a safe trading broker. It has obtained licenses from the International Financial Services Commission, Australian Securities and Investments Commission, and Cyprus Securities and Exchange Commission.

What’s more? XM has clearly stated its policies regarding conflicts of interest, risk disclosure, money laundering prevention, and much more.

Is XM trading good?

XM offers a plethora of trading options, along with bonuses, analysis tools, and multiple resources. You can trade in over 55 currency pairs, crosses, and exotics, with a leverage ratio of up to 888:1.

At XM, you can access 6 asset classes—stocks, indices, commodities, energies, precious metals, and forex. Choose from 1000 plus instruments and 16 platforms.

Is XM trading legit?

XM has been in this field for 11 years, constantly trying to improve in every aspect. It has won 13 forex services awards. From Best FX Service provider for 2017, 2019, and 2020 to Best FX Technology Provider, 2014.

It has won a total of 18 Forex Broker Awards, including Most Reliable Broker and Most Transparent Broker – Global, 2020. That is not all. XM has also won 3 Forex Platform Awards and various others.

Is XM a good broker?

XM is considered to be a good broker because it provides forex and CFDs trading. Additionally, it offers 1000 plus trading instruments, spreads as low as 0.6 pips, and leverage of up to 888:1. Still not satisfied? XM does not only let you trade but also extends a multitude of helpful resources.

From free daily technical analysis and market overview to the latest news and calendars, you can have it all. Moreover, it is compatible with all types of devices and offers 16 platforms to choose from. The best part—XM extends 24/5 active customer care support for its users.

Is XM a trustworthy broker?

XM is a licensed and regulated broker. It adheres to multiple regulatory standards set by three of the top commissions. These include CySEC in Cyprus, IFSC in Belize, and ASIC in Australia.

XM values its clients, offering equally quality services to all. It has clearly stated all its policies with no hidden terms and believes in complete transparency. Moreover, the broker is well-known in over 196 countries, with its staff communicating in more than 30 languages.

What is the minimum deposit for XM?

The minimum deposit for XM is 5 USD or an equal amount in any other currency. This can be done through multiple payment methods.

How long do XM withdrawals take?

XM withdrawals usually do not take long. However, the time taken for your money to reach your account may vary according to your country. A standard bank wire will take up to 3 days in the EU. Whereas, in some regions, a bank wire may take up to 5 working days.

Is XM regulated?

Yes, XM is regulated by three globally-recognized regulatory bodies. It is licensed by CySEC in Cyprus, ASIC in Australia, and IFSC in Belize. The company is known as Trading Point of Financial Instruments Ltd. in Cyprus and Australia, while XM Global Ltd. in Belize.

Is XM a market maker?

Yes, XM is a market maker, that too a licensed and regulated one. XM offers great forex bonuses, cheap trading options, and can be trusted. Moreover, as a market maker, XM has very low trade requirements. It does not charge any commissions from its clients and allows small trades.

Being a market maker, XM is trustworthy and offers quality trading services. It lets you trade with a Lot that is as low as 0.01. You can trade a maximum of 100 Lot. However, these things may depend on the type of account you choose.

How can I start trading with XM?

The trading process at XM is fairly easy, even if you are a beginner.

Step 1: Sign up at XM and validate your account by uploading the required supportive documents. These include an official identification document such as passport, driving license, etc. and a recent utility bill. It may be of electricity, internet, gas, etc.

Step 2: Once your account is validated, you can fund your account by clicking on the Deposits tab. You may start with as low as $5.

Step 3: You will need to download an XM trading platform (MT4 or MT5). You must do this after learning about each one of them.

Once you have added funds and downloaded a trading platform, you are all set to trade at XM. Happy Trading!

Is my money safe with XM?

Yes, your money is safe with XM. Here are three reasons why. Firstly, XM is regulated by three global authorities—AISEC in Australia (which is a top tier), CySEC in Cyprus, and IFSC in Belize. Second, it offers negative balance protection to all its customers.

Third, it states clear terms and policies concerning risks, money laundering prevention, order execution, conflict of interest, etc.

That said, you must know that XM is not listed on the stock exchange, and its financial information is not available to the public.

Is XM a scam? 

There is a mixed judgment about whether or not is a scam. Many traders hold XM in high regard in terms of trustworthiness. It has an excellent foundation of customer support, ready to assist you at any time of the day, all week. Despite the generally positive reception of XM, several traders have grievances. 

One main concern is the lack of effective communication and reliability. Another is the unpredictable way in which XM tends to close accounts for no discernible reason when a user intends to withdraw. You must take these complaints into account as well for a wise decision. 

Can you make money with XM? 

Yes, you can make money with XM. XM is also one of the only trading platforms that do not need you to deposit money to claim your profits. It even offers you an initial trading bonus of $30. You can claim your profit on it with zero-dollar investment. serves four types of trading accounts with respective lots equal to different units of the base currency. 

Does XM have fees? 

No, XM does not charge any commissions or fees for deposits and withdrawals. If you have an XM Zero account, then you will indeed have to pay a commission. The Micro, Standard, and Ultra-Low accounts do not demand any commission. Despite this, they will charge minimal to high spreads. 

You do not have to pay any commission since the broker covers all the fees of transactions either way. However, the situation is slightly different when it comes to international bank wire transfer. takes care of the fees that their banks impose for all deposits. 

Exceptions arise for deposits that are less than $200 or a denomination of equal value. XM charges a dormant fee of $5 per month if you do not use your account. If your total account balance is below $5, you will have to pay the complete balance in your account. 

When was XM Group founded? 

XM Group was founded in the year 2009. It was founded by Constantinos Cleanthous, an entrepreneur from Cyprus. He is the current CEO of XM Group as well. Since its establishment, it has grown to consist of a base with over 3,500,000 users. XM has traders from all over the world- belonging to 196 countries. The headquarters of XM is in Limassol, Cyprus. 

How many people use XM? 

More than 3,500,000 people from all over the world use XM for forex trading. These clients come from 196 countries. XM has executed a whopping figure of over 2,400,000,000 trades, with no rejections or requirements. 

In addition to this, XM management teams have traveled to more than 120 cities for discussions with partners and clients. XM has between 200 and 500 employees currently in office too. However, XM does not offer its services to people in the United States of America, Israel, Canada, and the Islamic Republic of Iran. 

Where is the headquarters for the XM Group? 

XM Group was founded by a bright entrepreneur in Cyprus. Hence, you will find its headquarters in Cyprus. The primary location is at 12 Richard & Berengaria Str. 

Araouzos Castle Court, Limassol, Cyprus. Other key offices include locations in Sydney, Australia; and Athens, Greece. 

Does XM offer negative balance protection? 

Yes, XM provides negative balance protection. If you use XM as your trading platform, you will not have to pay an additional deposit if your account balance drops to zero.

 If your balance begins touching negative figures, XM automatically resets it to zero. The platform does this within a few hours at most. applies the provision of protection against negative balance to all live accounts and covers the exceeded losses. 

Does XM offer guaranteed stop loss? 

Yes, XM offers guaranteed stop loss once you reach the point of limit that you have set for your order. Once you reach this point, XM will automatically close your order. However, take note that you will have to leave some distances from the market price at the time you set a limit. 

If you want to minimize your losses when the market is not in your favor, stop loss is useful. At, the point of stop loss is beneath the price of BID on BUY. It is above the cost of ASK on SELL. 

Does XM allow scalping? 

Yes, XM allows scalping. XM does not apply any restrictions upon scalping trades. Keep in mind that if you choose to engage in scalping when a period of ‘news time’ is in the picture, XM may set a limit at high leverage (1:888). 

When essential news on economics or other crucial information is released, ‘news time’ develops. Beyond the former, you will not come across any other hindrances in scalping using 

Does XM allow hedging? 

Yes, XM states that you are entirely free to engage in hedging the positions on your account. When you open a Long and a Short position simultaneously on the identical instrument, hedging occurs. At the time you open your Buy and Sell positions in this manner with the same lot size, the margin is at 0. If you hedge CFDs, the margin will always be at 50%. 

Does XM offer CFD trading? 

Yes, XM Group offers CFD trading. Every CFD has a differing lot size. There are distinct formulae for calculating the margin for CFDs and the profit for CFDs. Through XM, you can trade CFDs on more than a thousand instruments. XM offers CFD trading on energies, soft commodities, equities, indices, precious metals, stocks, and more. 

Does XM offer STP? 

Yes, XM offers STP. STP is the abbreviation for Straight Through Processing. The FCA regulates XM Group to provide its services and allows it to conduct No Dealing Desk transactions. XM will pass some, or even all, of your trades straight to providers of liquidity for execution. 

XM as an STP broker productively performs its role as a market maker by generating a market for such trades. XM operates a Dealing Desk when it comes to phone orders, but it executes most of the orders using the STP model. 

Is XM an ECN broker?

Yes, XM does indeed play the role of an ECN broker. ECN stands for Electronic Communication Network. Despite the aforementioned, XM is not the best option if you are seeking good, productive ECN trading. 

Many traders do not consider XM to fall into the category of true ECN brokers. ECN brokers do not have a dealing desk. It means that these brokers do not direct the flow of orders to market makers. 

Does XM offer demo accounts? 

Yes, you will be glad to know that XM offers demo accounts. If you open a demo account on XM, you will have instant access to several MT4 as well as MT5 trading platforms. will give you a virtual balance worth $100000.

 The demo account that XM offers is excellent for practicing and testing strategies. If you are a beginner, you will be able to benefit from a demo account even more. 

XM demo accounts do not come with any date of expiration. It means that you can use these accounts for as long as you prefer. However, if you do not use your demo account for ninety days, XM will close it. You can always reopen a demo account. XM allows a maximum limit of five such accounts to be active at a given point. 

Does XM offer Islamic accounts? 

Yes, XM offers Islamic accounts. There are certain instructions you need to follow if you want to request a swap-free Islamic account. Islamic accounts do not have any rollover interest in positions that are overnight. 

With an XM Islamic account, you will not have to experience a widening of spreads, commissions up-front, or time limit for holding positions. The trading conditions will remain the same as the other four types of accounts that XM offers. does not impose any additional charges when you operate an Islamic account. 

To sum up our XM Review 

Our XM review found that if you are looking for a professional stage to trade forex, energies, and CFDs, you must consider all available options and select a reliable one. There is a wide array of brokers out there. is one of the best trading platforms that its clients hold in high regard. Whether you are a beginner or a seasoned trader, can offer you an extensive and comprehensive broker service. 

The platform is relatively user-friendly and easy to navigate. XM is open to traders from as many as 196 countries, though it is not accessible for people in the USA, Canada, Israel, and Iran. You can trade over 55 currency pairs on XM, 24 hours a day, and 5 days a week. 

Regulated by a few stringent financial organizations, the broker guarantees security and transparency- two factors indispensable to trading platforms. There are several benefits of using, and it is versatile as well. 

While it is an excellent platform, XM does indeed have some shortcomings as well. You cannot trade cryptocurrency CFDs, plus it is sometimes unpredictable with its communication. The withdrawal time may also happen to be rather long for some accounts. 

You might be pleased to know that has received several awards for its forex services- as a broker and as a platform. XM offers typically seamless customer service. If you have any questions that the platform can answer for you, feel free to contact it.