Name: XM (xm.com)
Item: XM (xm.com)
Rating: 4.711111111111111
Author: John Lee Rossi

Key Takeaways

Trading with micro lots available.
No deposit bonus (subject to jurisdiction).
Zero fees on deposits and withdrawals.
More than 1,000 trading instruments.

XM (xm.com) Overall rating

4.7

Ranked 8 out of 1757 (Forex Brokers)

Overall rating is derived from an aggregate of ratings in multiple categories.

	Rating	Weight
Real customer rating	4.4 (161 reviews)	3
Popularity	4.8	3
Regulation	5.0	2
Pricing rating	4.8	1
Features	Not rated	1
Customer Support	Not rated	1

We start our XM review by highlighting a couple of points regarding this CFDs broker. XM is a trading name of Trading Point Holdings Ltd, the parent company of a group of regulated online brokers. For investors looking for safety of funds, XM represents an excellent choice as this highly-regulated broker is supervised in Cyprus by CySEC and in Australia by ASIC, in Dubai by DFSA and in Belize by FSC.

Also positively, the XM broker boasts more than 1,000 trading instruments, divided into 7 asset classes, offering traders a complete range of CFDs to invest. With XM investors can trade their favourite currency pairs, invest in their preferred company stock, short the Brent, trade on the price of the US 500 and so much more.

XM’s business model is a market maker broker which means it is the sole execution venue to all its clients' orders and they are paid the difference between the Bid and Ask prices (i.e., spread) for their market-making services. However, their execution is highly optimised, with 99.35% of all orders being executed in less than 1 second, coupled with a strict no requotes and no rejections policy.

XM (xm.com) Regulation / Money Protection

5.0

Company	Licenses & Regulations	Deposit Compensation Scheme	Max. Leverage Retail Clients
Trading Point of Financial Instruments Pty Ltd	Australia - AU ASIC		30 : 1
Trading Point of Financial Instruments Limited	Cyprus - CY CYSEC	up to €20,000	30 : 1
XM Global Limited	Belize - BZ FSC		1000 : 1
Trading Point MENA Limited	United Arab Emirates - AE DFSA		30 : 1

XM provides regulated online CFDs trading and it’s possible to open a live trading account with one of XM's regulated entities. Their CySEC licensed entity covers clients residing in Europe, there is another in compliance with Australia’s ASIC regulations, one supervised by the Dubai DFSA and one regulated by the Belize FSC, directed at the international clientele.

International regulation: XM Global Limited, operating as XM, is the main counterparty for the international clientele. XM Global Limited, with a registered address at Suite 404, The Matalon, Coney Drive, Belize City, Belize, CA, is authorised and regulated by the Belize Financial Services Commission (FSC), with license number 000261/397. XM international website is www.xmglobal.com.

European regulation: Trading Point of Financial Instruments Limited, with address at 12, Richard & Verengaria Str, Araouzos Castle Court - 3rd Floor, CY-3042, Limassol, is a financial services company registered as a Cypriot Investment Firm (CIF) under number 251334. Trading Point of Financial Instruments Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 120/10. The CySEC license allows Trading Point of Financial Instruments Limited to offer online financial services in Europe according to the guidelines set out on the MiFID rules. XM European website is www.xm.com.

Australian regulation: Trading Point of Financial Instruments Pty Ltd, with ACN 164 367 113, and trading as XM, is licensed by the Australian Securities & Investments Commission (ASIC). Trading Point of Financial Instruments Pty Ltd, with a registered address at Level 13, 333, George Street, Sydney, NSW 2000, Australia, is regulated by the ASIC, with license AFSL 443670, to offer financial services in Australia, limited to the financial services covered by its AFSL license. XM Australia website is www.xm.com/au.

UAE regulation: Trading Point MENA Limited, with a registered address at Unit S1302, Level 13, South Tower, Emirates Financial Towers, DIFC, PO Box 507013, Dubai, UAE, is licensed by the Dubai Financial Services Authority (Dubai DFSA). Trading Point MENA Limited is registered and supervised to arrange deals in investments, dealing in investments as principal and carrying on authorised financial services with, or for, retail clients.

Client Money Protection

XM complies with the highest standards regarding client money protection. Therefore, the broker client’s funds are kept in top-tier international banks, such as Barclays Bank, in segregated accounts.

XM also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. XM holds the client's money separately from the company funds and does not use these funds for any company operational expenses or purposes.

Deposit Compensation

Trading Point of Financial Instruments Limited is a member of the Cyprus CySEC Investor Compensation Fund (ICF). The ICF is an investor compensation fund for retail clients of CIF registered financial firms, and its functions are regulated by the directive DI87-07 of the CySEC. If Trading Point of Financial Instruments Limited is unable to meet its obligations, retail clients might be entitled to compensation to the value of up €20,000 per claim, irrespective of the number of accounts held, currency and place of the offering of the investment service (within Europe).

Negative Balance Protection

For retail accounts opened via any of the XM Group entities, there is a default Negative Balance Protection in place, to protect clients from any losses bigger than their original deposits. With the NBP mechanism, the XM Group retail customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.

XM (xm.com) Cashback rebates

Get Cashback

We will beat any competitor offer!

Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.

	Micro	Standard	XM Zero	Ultra Low
Forex	$5.5 Per Lot		$2.2 Per Lot	Up to $7.50 Per Lot
Oil / Energies	Up to $37.50 Per Lot		Up to $34.08 Per Lot	Up to $37.50 Per Lot
Metals	Gold Silver $5.50 Per Lot		Gold Silver $2.2 Per Lot	Gold $3.00 Per Lot Silver $7.50 Per Lot
Shares / Equities	Up to $37.50 Per Lot		Up to $34.08 Per Lot	Up to $37.50 Per Lot
Indices	Up to $37.50 Per Lot		Up to $34.08 Per Lot	Up to $37.50 Per Lot
Soft commodities (coffee,sugar...)	Up to $37.50 Per Lot		Up to $34.08 Per Lot	Up to $37.50 Per Lot
Cryptocurrencies	Up to $37.50 Per Lot		Up to $34.08 Per Lot	Up to $37.50 Per Lot
Payment Options	Direct to your XM MyWallet (2x weekly) Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday. Monthly Cash Back - Real Time Reports Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, IC Markets, ThinkMarkets & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.

	Micro
Forex	$5.5 Per Lot
Oil / Energies	Up to $37.50 Per Lot
Metals	Gold Silver $5.50 Per Lot
Shares / Equities	Up to $37.50 Per Lot
Indices	Up to $37.50 Per Lot
Soft commodities (coffee,sugar...)	Up to $37.50 Per Lot
Cryptocurrencies	Up to $37.50 Per Lot
Payment Options	Direct to your XM MyWallet (2x weekly) Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday. Monthly Cash Back - Real Time Reports Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, IC Markets, ThinkMarkets & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.

	Standard
Forex	$5.5 Per Lot
Oil / Energies	Up to $37.50 Per Lot
Metals	Gold Silver $5.50 Per Lot
Shares / Equities	Up to $37.50 Per Lot
Indices	Up to $37.50 Per Lot
Soft commodities (coffee,sugar...)	Up to $37.50 Per Lot
Cryptocurrencies	Up to $37.50 Per Lot
Payment Options	Direct to your XM MyWallet (2x weekly) Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday. Monthly Cash Back - Real Time Reports Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, IC Markets, ThinkMarkets & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.

	XM Zero
Forex	$2.2 Per Lot
Oil / Energies	Up to $34.08 Per Lot
Metals	Gold Silver $2.2 Per Lot
Shares / Equities	Up to $34.08 Per Lot
Indices	Up to $34.08 Per Lot
Soft commodities (coffee,sugar...)	Up to $34.08 Per Lot
Cryptocurrencies	Up to $34.08 Per Lot
Payment Options	Direct to your XM MyWallet (2x weekly) Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday. Monthly Cash Back - Real Time Reports Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, IC Markets, ThinkMarkets & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.

	Ultra Low
Forex	Up to $7.50 Per Lot
Oil / Energies	Up to $37.50 Per Lot
Metals	Gold $3.00 Per Lot Silver $7.50 Per Lot
Shares / Equities	Up to $37.50 Per Lot
Indices	Up to $37.50 Per Lot
Soft commodities (coffee,sugar...)	Up to $37.50 Per Lot
Cryptocurrencies	Up to $37.50 Per Lot
Payment Options	Direct to your XM MyWallet (2x weekly) Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday. Monthly Cash Back - Real Time Reports Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, IC Markets, ThinkMarkets & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.

Notes

Account availability depends on the client’s country of residency.

Rebate clients are not eligible to receive bonuses.

Rebates are not paid for:

Accounts registered with: ASIC, CySEC, Dubai DFSA entities
Residents of Australia, Belgium, Argentina, Portugal or Spain
Existing EEA/UK XM clients not currently under Clear Markets.

Rebates are not paid on: 1) trades held less than 5 minutes; 2) the percentage of a trade using bonus money as margin.

Non-USD rebates are converted to USD.

Non-forex instruments: https://www.xm.com/equity-indices?gid=320

What are XM (xm.com) rebates?

XM (xm.com) rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.

Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.

How do XM (xm.com) rebates work?

When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.

Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.

How much XM (xm.com) rebates can I earn?

Use our forex rebate calculator to estimate your XM (xm.com) rebate earnings:

Instrument

Deposit currency

Rebate per lot

Lots traded

You must enter a valid number

EURUSD 1 Pip Size

Are XM (xm.com) rebates a scam; do my spreads increase?

XM (xm.com) rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.

When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.

Are there any other benefits to signing up for XM (xm.com) rebates?

It depends on the rebate provider. Due to our unique relationship with many brokers, we have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond to us, since we typically have many clients with them. Our knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. We also offer trading tools, calculators, reviews and a robust forex education section.

How are forex rebates paid?

Because we deal with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what we offer:

Forex rebate options vary per broker:

Monthly cash back	Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in.
Spread or commission reduction	The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers.
Paid direct to brokerage account	Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers.

In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.

XM (xm.com) Web traffic

Websites	xm.com xmglobal.com xm.com/au
Organic monthly visits	10,918,361 (72%)
Organic traffic rank	3 out of 1757 (Forex Brokers)
Paid monthly visits	4,164,578 (28%)
Total monthly visits	15,082,939
Bounce rate	60%
Pages per visit	2.54
Average visit duration	00:02:31.0290000

XM (xm.com) Profile

Company Name	XM Group operating under: Trading Point of Financial Instruments Ltd (CySEC license 120/10) Trading Point of Financial Instruments Pty Ltd (ASIC license 443670) Trading Point MENA Limited (DFSA license F003484) XM Global Limited (FSC license 000261/397)
Categories	Forex Brokers, Cryptocurrency Brokers, Forex Rebates, Cryptocurrency Rebates
Primary Category	Forex Brokers
Headquarters	Australia, Belize, Cyprus
Account Currency	AUD, CHF, EUR, GBP, HUF, JPY, PLN, SGD, USD, ZAR
Client funds bank	Investment Grade Banks
Support Languages	Arabic, Chinese, English, Dutch, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Thai, Turkish, Vietnamese, Bengali, Urdu, Czech, Swedish, Filipino
Funding Methods	Bank Wire, China Union Pay, Credit/Debit Card, Neteller, Skrill
Financial Instruments	Futures, Forex, Indices, Oil/Energies, Metals, Soft Commodities (coffee, sugar...)

24 hour support

Segregated Accounts

Islamic Accounts

Accepts Canadian clients

Accepts Japanese Clients

Non expiring demo

Trading API

Cent accounts

Negative balance protection

Social trading

Regulatory deposit insurance

Trailing stops

Bonuses

Interest on margin

Fixed spread

Variable spread

Established in 2009, Trading Point Group, through its XM brand, is a fast-expanding broker, with over 5,000,000 clients from more than 190 countries.

The broker strives to offer a great trading experience with a good range of trading instruments at low market spreads – from 0.0 pip for the EUR/USD, USD/JPY and GBP/USD on the XM Zero account – and no requotes. XM is also known within the trading community for its great promotions and the famous no deposit bonus – currently available only for customers registering a live account with the Belize FSC-regulated entity.

XM’s multi-language customer support service is well-trained and very efficient. The service is available around the clock in 25 languages. XM customer services can be contacted via local phone numbers (subject to jurisdictions), contact form, email and through the live chat widget present on the broker’s website.

XM is also a very popular CFDs broker with good execution speeds on both available trading platforms. Trading with XM can be done via the Metatrader 4 and Metatrader 5, with both platforms available through the XM – Trading Point app and for Windows, macOS, iOS and Android. It is also possible to trade with XM, instantly, via the Web Trader, a browser-based platform that requires no installation, and replicates the interface of the MetaTrader platforms.

XM (xm.com) Asset classes

As said before, one of the strongest points of this CFDs broker lies in its vast product offering. XM offers an excellent range of 1,000+ assets available for trading, including forex, indices, stocks CFDs, shares and commodities – both energies and metals and CFD on cryptocurrencies, although CFDs on cryptos are not available through all entities.

FX market: 55 currency pairs, including all major pairs, some minor and exotic crosses.

Indices: 18 indices CFDs, including the UK 100, US 500, and NIKKEI 225.

Stocks: 1,000+ CFDs on stocks , from most European exchanges (from Portugal to Norway), Russia, USA, Canada and Brazil, of top companies and banks such as Barclays Plc, EasyJet, Tesla, Bank of America, Deutsche Bank and BMW.

Shares: Clients signed up with the Belize-regulated entity can trade 100 shares from USA, UK and Germany exchanges, of top companies, fintech and banks, such as Apple, Google, BNP, Facebook, Tesla, and BMW. Shares trading is available through the MT5 Shares account, on a cash basis and not on a margin basis. Investors need to have an account with 100% of the transaction value to buy an asset, which translates into no leverage. The XM MT5 Shares account also pays dividends on shares owned.

Commodities: 16 commodities CFDs available for trading; 3 metals – Gold, Copper and Silver versus the USD, 5 energies – including UK Oil and US Oil, and 8 softs, including Coffee, Cotton and Sugar.

Cryptocurrencies: XM also offers a wide range of CFDs on popular cryptocurrencies including Bitcoin, Ethereum and Ripple. Please note that crypto CFDs availability are subject to contracting entity and jurisdiction.

XM (xm.com) Account types

	Micro	Standard	XM Zero	Ultra Low
Commission	-		$3.5 Per Lot Per 100K USD Traded	-
Maximum leverage	1000:1		30:1	1000:1
Mobile Platform	MT4 Mobile, MT5 Mobile
Trading Platform	MT4, MT5, WebTrader
Spread Type	Variable Spread
Minimum Deposit	5
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Micro
Maximum leverage	1000:1
Typical Spread	1.8-2.1
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	5
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Standard
Maximum leverage	1000:1
Typical Spread	1.8-2.1
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	5
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	XM Zero
Commission	$3.5 Per Lot Per 100K USD Traded
Maximum leverage	30:1
Typical Spread	0-0.1
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	5
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

	Ultra Low
Maximum leverage	1000:1
Typical Spread	0.06
Trading platform	MT4MT5WebTrader
Mobile platform	MT4 MobileMT5 Mobile
Spread type	Variable Spread
Minimum deposit	5
Minimum Trade Size	0.01
Trailing Stops
Scalping Allowed
Hedging Allowed
Islamic Accounts

_{Please note: The maximum leverage depends on the Financial Instrument traded and XM entity^.}

XM offers a range of trading accounts to meet the needs of all types of investors – from Micro accounts to Zero accounts – with different executions and pricing. The entry-level account is the XM Micro account, offered by the XM Global Limited entity, and also by Cyprus and Australia’s regulated entities.

The XM Micro account is best suited to novice investors looking to test their trading strategies on the currency markets, and using a small investment, as 1 lot on the Micro account is only 1,000 currency units (compared to the 100,000 currency units of a standard lot).

The XM Standard account is recommended for the investors looking to trade only with the bid and ask prices, without any added commissions.

The XM Ultra Low account is a competitively priced account, especially when trading forex pairs, with tighter spreads, from as low as 0.6 pip and also commission-free.

The XM Zero account is the broker’s aggressively priced account, recommended for professional investors. This account is offered with low spreads, starting at 0.0 pip on major FX pairs and an industry average trading commission of 3.5 USD per side, per 1 lot traded. The Zero account is only available with the CySEC-regulated entity.

The XM Shares account is the broker's account for stocks (shares) trading. Investors can hold a portion of global companies and banks and receive dividends on their trading accounts proportional to the size of their investment. The Shares account is offered by XM with no leverage, and trading can be done via the MT5 platform. The Shares account is only available with the Belize FSC-regulated entity.

Regarding leveraged trading, XM maximum leverage ratio is 1000:1 for retail clients opening a live account with the entity in Belize, and limited to 30:1 for retail traders opening a trading account with Dubai DFSA, Australia’s ASIC and Cyprus CySEC regulated entities.

Currently, XM trading accounts are available in several base currencies (subject to jurisdiction): USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, SGD and ZAR.

XM (xm.com) Open an account

To open a XM (xm.com) trading account, customers will need to fill in a form with some basic information – name and surname, a valid email address, country of residence and phone number.

On the same form, traders can select which trading platform they prefer for the trading account, MT4 – giving access to all instruments, except stocks – or MT5, which includes stocks CFDs. Users can then select the account type (Standard, XM Ultra Low, etc.), the account currency and the leverage ratio, from 1:1 to 1000:1.

After that, all is left is to create, and repeat an account password, and then click the “Open Account” green button. Soon, traders will receive a welcome email from XM confirming the registration. In the next step, traders will need to download the chosen trading platform, and then connect to the trading server. The final step is to log in to the trading account.

Register for free and test your trading strategies, open a XM (xm.com) trading account, with no risk and no obligation, now.

Try the XM (xm.com) broker, risk-free!

Open an Account

XM (xm.com) Pricing

Account/Pricing	Micro	Standard	Ultra Low	Zero
EUR/USD Spread	from 1.6 pip	from 1.6 pip	from 0.6 pip	from 0.0 pip
EUR/USD Commission (1 lot)	$0	$0	$0	$7
EUR/USD Swap rate (21-03-2023)	Long: -9.82 Short: 2.78

Spreads and trading commissions

XM’s pricing and trading costs are not the most competitive in this industry when compared with other players. The starting spread for the most popular cross, the EUR/USD pair, on the Micro and Standard accounts, is 1.6 pip, commission-free.

Things improve massively with the Ultra Low accounts, and even more with the ECN type Zero account. XM proposes the Ultra Low account with a starting spread of 0.6 pip, commission-free, for major FX pairs and competitively prices its Zero account with a starting spread of 0.0 pip on major crosses, like the EUR/USD, GBP/USD and USD/JPY, with a trading commission of $7 per round lot traded (100,000 base currency units).

For investors looking for an alternative broker for stocks (shares) trading, XM proposes its Shares account with a trading commission per transaction of just 4 USD (minimum 1 USD) for USA stocks. Please be advised that this account type requires a minimum deposit of $10,000, and will allow investors to trade only on shares.

We consider the Zero account’s trading commissions to be in line when compared with other top brokers – who charge on average between 6-7 USD per round lot.

Rollover rates

XM swap rates, as of 21-03-2023, and for the EUR/USD, stand at -9.82 points for holding overnight a long position of 1 lot and at 2.78 points for holding overnight a short position of 1 lot. We consider XM’s rollover rates to be quite competitive when compared with the swap rates offered by other top brokers.

XM (xm.com) Deposits / Withdrawals

Deposit fees: Trading accounts can be opened in 10 different currencies and maintained via several funding methods. Including the traditional methods, cards and bank wires, XM also accepts deposits with the most popular e-payment solutions (subject to jurisdiction), such as Neteller, China UnionPay and Skrill.

XM does not charge any deposit fees, and deposited funds are available almost instantly.

Minimum deposit: Opening a live trading account with XM is fairly easy and it can all be done on the broker’s website, in 4 easy steps; fill in the registration form, confirm your identity, create a trading account and do the first deposit, download and install a trading platform. XM’s minimum deposit requirement for the Micro, Standard, Ultra Low and Zero accounts is only 5 USD or equivalent. The XM Shares account requires an initial minimum deposit of 10,000 USD or equivalent.

Withdrawal fees: XM also waives the withdrawals fees (withdrawal processing times vary from instant to 1 business day). XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Skrill and all major credit cards – including Visa, Visa Electron, MasterCard, Maestro and China UnionPay. Additionally, all deposits and withdrawals above 200 USD, and processed by wire transfer, are also included in XM's zero fees policy.

Inactivity fee: XM reserves the right to charge a dormant account fee to trading accounts deemed dormant. Accounts during which there was no trading/withdrawal/deposit/internal transfer/additional trading activity from the past 90 calendar days, are deemed dormant.

All remaining bonuses, promotional credits and XMPs credits will be automatically removed from dormant accounts. XM will charge dormant accounts with a monthly inactivity fee of 5 USD, or the full amount of free balance if the free balance is less than 5 USD. No inactivity charge is imposed in the trading account if the available balance is zero.

XM (xm.com) Popularity

XM enjoys great popularity within the trading community. By being a highly regulated CFDs broker, and by offering attractive bonuses and promotions, XM seems to have the perfect recipe and combination of ingredients to capture traders’ attention.

The broker is also a very popular choice for its great order execution, with zero re-quotes and zero rejection. XM advertises itself as a broker deploying a strictly no re-quotes policy and guarantees no Virtual Dealer plug-in on its trading platforms.

With 99.35% of all orders executed in less than 1 sec, 100% execution rate - no rejection of orders, real-time market execution, XM customers can not only place orders online but also via the phone.

Popular trading account: The Zero account is the popular choice with traders looking to save on XM’s trading costs, with low starting spreads and an industry average tarding commission of $7 per round lot traded.

Trading education

XM is notorious for its education materials offering and deserves some popularity points for its superb range of trading materials and tools, available through the “Research & Education” tab on its website. XM users can find some quality trading tools, like forex calculators, proprietary indicators for MT4, economic calendar, trade ideas and so much more.

Regarding trading education, XM users can enrol in free webinars and seminars, keep up with the markets by listening to market analysis podcasts, read curated articles and with XM TV.

Research & education materials available on XM (xm.com) website
FX Courses - money management, how to trade the markets, etc.
Market Analysis - daily or weekly market reports
Webinars - live, online trading education with experts
XM TV - live video stream of financial news
Trading Videos - trading education videos
Trading eBooks - trading education literature
Trading Strategies - technical analysis strategies
Trading Tools - calculators, economic calendar, etc.
Market Signals - suggested buy/sell entries with TP and SL levels

XM (xm.com) Promotions

XM (xm.com) FAQs

Is XM an ECN broker?
Which is the best XM account?
Where can I download the XM Global MT4 platform?
What is XM minimum deposit?
How to claim the XM 30 bonus?

Is XM an ECN broker?

No, XM is not an ECN broker, in fact, the company clearly states on its terms & conditions of business, point 73, that XM Global Ltd may act as a Market Maker. It can be read that the broker “may take the risk of holding a certain number of Supported Securities to facilitate trading in these Securities by displaying/quoting bid and ask prices for such Supported Securities from our Online Trading Facility”.

Furthermore, XM Global Ltd clarifies its business model and the order filling procedure typical of a Market Maker broker: “filling Orders received in respect to such Supported Financial Instruments are from our own inventory…”.

So, no, XM is not an ECN broker. But what exactly does that mean to traders? Is it worse to trade with a Market Maker broker such as XM? Not quite, there are some pros and cons, like everything else. Before ruling out the possibility of trading with a Market Maker broker, check out the table below with the pros and cons:

Pros	Cons
Increased liquidity	Possible conflict of interest
Pricing can be more competitive	Possible price manipulation
Price spikes can be less volatile	Possible worse prices than market
Can offer Micro accounts	Possible high slippage
Can offer variable, competitive spreads	Possible scalping restrictions
Smaller account deposits
Higher leverage ratios (subject to regulations)

And that’s not all, some examples of the bigger Market Makers in the financial industry include the Deutsche Bank, Morgan Stanley, BNP Paribas and UBS. Wouldn’t you trade with any of them because they are Market Makers?

A Market Maker posts bids and offers to ensure market liquidity is available, and they are always ready to trade with you. In simple terms, if you want to buy a security, they will sell it to you, and if you want to sell a security, they will buy it from you.

Which is the best XM account?

The best XM account is the XM Zero account*, because of its competitive trading costs and range of financial instruments available for trading.

*_{Please note that the XM Zero account is only available for traders registering, and opening a live account with the entities in Europe and Australia.}

XM offers several types of trading accounts, tailored to suit every trading style and strategy. But in the end, it all comes to one simple factor, pricing. Everyone likes to trade with the cheapest pricing possible, avoiding extra costs that eat up the profits.

If we compare XM accounts offering (subject to jurisdiction) the two main contenders for serious traders will be the XM Ultra Low account (traders only pay the spread without trading commissions), and the Zero account, priced with a spread plus a trading commission.

Let’s take a practical example to see which account is the cheapest to trade with.

Supposedly, Joe wants to go long with 1 lot (100,000 currency units) of EUR/USD. The XM Ultra Low account has a starting spread of 0.6 pip for the EUR/USD, and no trading commissions.

The XM Zero account has a starting spread of 0.0 pip, but following an ECN trading environment model, the broker adds a trading commission of 7 USD per traded lot. With the simple calculation of dividing the trading commission by the EUR/USD pip value, we can convert the trading commission into pips, and this will give us a total cost of 0.7 pip.

First impressions, the Zero account seems slightly more expensive, when compared to the XM Ultra Low, by 0.1 pip. But on XM’s website contract specs page, for the Ultra Low account, the broker states an average of 0.8 pip for the EUR/USD. And for the Zero account, the brokers declare an average spread of 0.1 pip for the same pair.

So, which account is cheaper for Joe’s trade of 1 lot of EUR/USD long position? If the Ultra Low account has an average EUR/USD spread of 0.8 pip and the Zero account an average spread of 0.1 pip, with a converted commission of 0.7 pip, there’s virtually no pricing difference – they are priced equally. This also means that when opening a EUR/USD position with any of these accounts, you will start with a 0.8 pip loss.

Still, as a rule of thumb, tighter spreads are always preferable to trade with, especially in such a volatile market like currencies trading where pending orders might not get filled because of 0.1 pip – including Take-Profit and Stop-Loss orders!

Plus, traders registering a live XM Zero account can apply for free VPS (subject to terms & conditions) and also benefit from XM’s policy of zero fees on deposits and withdrawals.

Where can I download the XM Global MT4 platform?

XM Global offers trading via the MT4 platform, available for Windows PCs, macOS computers, Android and iOS tablets and smartphones. The XM Global MT4 runs on PCs with Microsoft Windows 7 SP1 or higher, and requires an Intel Celeron-based processor, with a frequency of 1.7 GHz or higher, 256 Mb of RAM or more and 50 Mb of free drive space.

The XM Global MT4 has many features, works with Expert Advisors, and comes packed with over 50 indicators and charting tools built-in for technical analysis. The XM Global MT4 platform also allows for 1 Click Trading, handles a vast number of orders, guarantees full data back-up and security and supports the internal mailing system.

On the XM Global MT4 platform investors can trade all the instruments available at XM, including forex, stock indices, metals and energies. Please note, individual stocks are only available on the XM Global MT5 platform.

To install the XM Global MT4 for Windows PC, download the terminal from the link below and run the .exe file after it has been downloaded. When launching the XM Global MT4 for the first time, the login window will appear. Simply enter your real, or demo, account login data to enable the trading.

Get the XM Global MT4 for Windows.

Download

To install the XM Global MT4 for macOS computers, download the terminal from the link below. Open the MetaTrader4.dmg and follow the instructions on how to install it. Go to the Applications folder and open the MetaTrader4 app. Right-click on "Accounts", select "Open an Account", then click on the + sign to add a new broker. Type "XMGlobal" and then press Enter. Select the MT4 server your account is registered on and click Next. Select "Existing trade account" and enter your login and password, and that’s it – click Finish.

Get the XM Global MT4 for macOS.

Download

How can I find the XM server’s name on MT4 (PC/Mac)?

On the MT4 terminal click the “File” tab on the top left corner, then click the "Open an account" option, which opens a new window, "Trading servers". Scroll down and click the + sign at "Add new broker", then type 'XM' and click "Scan".

Once the scanning has been done, close this window by clicking "Cancel".

Following this, please try to log in again by clicking "File" then select "Login to Trading Account" to see if the trading server name is there.

What is XM minimum deposit?

XM minimum initial deposit for the Micro, Standard, Ultra Low* and Zero* accounts is $5 (five US Dollars or currency equivalent). The XM minimum initial deposit for the Shares account is $10,000 (ten thousand US Dollars). Please note that if the deposit currency is not US Dollars, then the indicative deposit amount should be converted to the deposit currencies.

*Please note that the XM Ultra Low and XM Zero accounts are not available to all entities of the Group.

The broker accepts deposits by multiple credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer, and other e-payment methods in USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, SGD and ZAR (subject to contracted entity and account type) and deposit fees are covered by XM.

This also applies to all credit/debit card deposits. For deposits via international bank wire transfer, XM covers all transfer fees imposed by its banks, except for deposits amounting to less than 200 USD (or equivalent denomination).

All deposits are instant, except for deposits via bank wire. Please consider that to protect all parties against fraud and in compliance with the applicable laws and regulations for the prevention and suppression of money laundering, XM policy is to return the client’s funds to the origin of these funds, and as such, the withdrawal will be returned the source of the funds' deposit.

How to claim the XM no deposit bonus?

Some entities of the XM Group offer a no deposit $30 trading bonus ($50 for some countries). This promotion does not apply to traders opening live accounts with XM in Europe, UAE and Australia. The reason is that the ESMA, DFSA and ASIC's measures established that brokers regulated in Europe, UAE and Australia cannot offer promotions and bonuses to traders.

Traders opening a live account with XM Global Limited (Belize) are eligible for a non-deposit bonus to jump-start an exciting trading journey with XM and explore the broker’s online trading services.

Even without making a deposit new clients will receive an XM trading bonus on their newly registered live accounts and will have the opportunity to trade some markets with free trading funds – subject to selected account leverage and selected financial instrument. The profits earned with the trading bonus will be yours to keep, however, any withdrawal of funds will result in the proportional removal of the trading bonus.

The XM no deposit bonus is available to everyone opening an XM Account for the first time and is subject to terms and conditions. There is a 30-day limit from the date of opening the Account in which traders must claim the bonus before it is rendered unavailable.

To claim the XM no deposit bonus you need to follow a few simple steps:

Open an Account.
Log in to the Members Area, using the credentials sent to you by email.
Provide the relevant identification documents to validate your account (if you have not already done so).
Click the button “Claim your Bonus”.
Complete the voice verification process by following the on-screen instructions.

For more info regarding this promotion, or to claim your XM no deposit trading bonus, please visit the XM promotions page.

XM review - final considerations.

We conclude our XM review with the final considerations regarding this CFD broker. XM stands out for its great range of trading education materials, the competitive pricing of its Zero account, with starting spreads of 0.0 pip and an industry average trading commission of 7 USD per round lot (100,000 currency units), and for the fast order execution speeds.

Also positively, XM offers retail investors the possibility to trade with highly-regulated entities in Europe, UAE and Australia, where retail client money safety and retail client protection is of utmost importance – and these are also the entities that we recommend to traders.

With an XM account, traders are allowed to hedge, scalp, swing or position trade, with no restrictions, via 2 reliable trading platforms; MT4 and MT5, available for every imaginable electronic device with an internet connection.

Overall, the broker's solid reputation, the safety of retail client’s funds, together with attractive promotions and a low initial deposit of just 5 USD, or equivalent in other base currencies, position this CFD broker on the top 5 brokers for popularity with traders opening a trading account in 2023.

XM (xm.com) Real customer rating

4.4

(161)

XM (xm.com) reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.

_{Please make sure your comments are relevant and that they do not promote anything. Irrelevant comments, including inappropriate or promotional links, and comments containing abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind, will be deleted.}

Leave a review

Based on user reviews from XM's verified customers, with a live trading account, this broker is recommended for its fast execution speeds and the competitiveness of the Ultra Low account with lower spreads and no trading commissions.

Traders were also very pleased with XM’s deposit and withdrawal processing times, fast and efficient and, of course, for XM’s policy of no fees on deposits and withdrawals. Finally, some traders praised the broker for its offering of Micro accounts, a plus allowing for beginners to have a foothold on the currencies market trading, with a very small initial capital.

Negatively, a few traders reported on XM’s slippage and spread widening, with a special note for the high spreads between the NY session close and the Asia session opening.

Review sources

For over 10 years we have been one of the top IB brokers for live forex and CFD trading accounts to virtually all of the world's first-class retail brokers. One of our foremost goals is to help traders make informed decisions by publishing unbiased and accurate content, supported by primary sources.

These sources may include information supplied by the broker itself, government data, data available on the broker's corporate website(s), the broker’s analysis from our industry experts, and the opinions of verified traders with a live account. The information on this XM review page was also collected from:

Cyprus Securities and Exchange Commission website, Trading Point of Financial Instruments Limited, company details page.
Australian Securities and Investments Commission website, Trading Point of Financial Instruments Pty Limited, company details page.
Dubai Financial Services Authority website, Trading Point MENA Limited, company details page.
Belize Financial Services Commission website, XM Global Limited, company details page.
Trading Point corporate website, Corporate Profile, group companies page.
XM Global Limited website, Contracts Specs, financial instruments specifications page.
XM Global Limited website, Trading Accounts, trading accounts comparison page.
XM Global Limited website, Help Centre, frequently asked questions page.
FXverify website, XM user reviews by verified traders with a live account, reviews page.

Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Check XM’s website at www.xm.com for the percentage (%) of retail investor accounts losing money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

XM (xm.com) Review 2023 & Cashback