Carlo
4 months, 3 weeks ago
Best Brokers is an independent comparison of different…
Read the comment
XM review: What you need to know before signing up.
Comments
Introducing the broker XM
XM is a broker founded in 2009 and based in Cyprus, which includes regulation by the CySec (Cyprus Securities & Exchange Commission). It is a well-known broker in the Forex market and has been recognized multiple times by the World Finance Forex Award. XM also provides multi-asset trading accounts and serves a large client base spread across more than 190 countries.
- Head office:
📍 Limassol, Cyprus - Founded:
🗓 2009 - Support:
🇬🇧 English - Website:
🔗 xm.com
- Regulations:
CySEC - Execution type:
No Dealing Desk - Spreads:
Variable - Minimum deposit:
5€
Which financial instruments are offered by XM?
XM offers currency trading on the Forex market, as well as CFDs on shares, stock indices, commodities, precious metals, and energies. More than 1000 instruments give access to these 6 asset classes from a single trading account. XM also provides CFDs on cryptocurrencies.
Below is a list of financial instruments offered by XM:
- Stocks:
275 shares - Crypto:
30 cryptocurrencies - Forex:
70 currency pairs - CFDs:
2100 CFDs - ETFs:
n/a ETF
What CFD offering does XM provide?
XM delivers a wide range of CFDs on shares listed on major stock markets (Euronext, NYSE, etc.) as well as on indices, commodities, and more. Commissions are low, generally limited to the spread, which varies based on market conditions. XM allows fractional CFD trading on popular underlying assets with less than 20 US dollars.
XM offers multiple trading accounts, ranging from the Ultra Low Micro for beginners to the XM Zero for more experienced traders. The main differences between these accounts lie in the spread and leverage levels.
An overview of spreads for the main instruments at XM:
- Spread EUR/USD:
0.17 pip - Spread EUR/GBP:
0.2 pip - Spread GBP/USD:
0.2 pip - Spread USD/CHF:
0.2 pip
- Spread CAC40:
1 pip - Spread STOXX50:
1.5 pip - Spread FTSE100:
1 pip - Spread SP500:
0.4 pip
What are the fees for stocks and ETFs at XM?
XM offers CFDs on shares of over 600 companies, letting investors trade without owning the underlying asset but replicating the stock’s performance with leverage. There are no additional commissions beyond the spread, which can vary according to market conditions and may be as low as 0. This fee structure makes trading stocks and ETFs at XM both competitive and transparent.
- Commission per share:
0.18% - Fee per share:
5€ - Direct share purchase:
Non - CFDs on shares:
Oui
- Number of ETFs:
Non - Minimum ETF spread:
Non - CFDs on ETFs:
Non - Direct ETF purchase:
Non
What are the fees for forex and cryptocurrencies at XM?
On the forex market, XM offers 58 currency pairs including minors, majors, and exotics. XM advertises a spread of 0.6 pips on major pairs for both the XM Ultra Low Micro and the XM Ultra Low Standard accounts. The XM Zero account can benefit from a spread as low as 0 pips. For cryptos, fees tend to be more volatile and less favourable.
- Spread EUR/USD:
0.17 - Spread EUR/GBP:
0.2 - Spread EUR/CHF:
0.2 - Spread USD/CAD:
0.2
- Number of cryptos:
30 - Minimum crypto spread:
0.25 - CFDs on crypto:
Oui - Direct crypto purchase:
Non
Which trading platforms does XM offer?
XM provides a wide variety of trading platforms for its clients, up to 10 platforms! The XM WebTrader is compatible with MT4 and MT5, both known for their performance and rapid order execution. Note that multi-asset trading, including CFDs on shares, is available only on MT5. MT4 allows managing multiple accounts simultaneously. MT4 and MT5 offer an extensive set of technical tools for analysing the various instruments you wish to trade. Clients can easily switch between platforms depending on their needs.
All these platforms are executable on Mac and Android.
Which mobile app is offered by XM?
XM has developed an all-in-one mobile application compatible with MT4 and MT5, available for smartphones. More than 1000 instruments can be traded live on this app. The XM app syncs with your MT4 and/or MT5 accounts, offering an integrated and seamless trading experience, allowing traders to manage their positions and monitor the markets in real time from anywhere.
Is XM a trustworthy broker?
Yes. XM follows enhanced regulatory standards, holding licences from ASIC (Australia), CySEC (Cyprus), FSC (Belize), and DFSA (Dubai). In addition, XM safeguards client funds with robust protective measures, ensuring maximum security and transparency for all customers.
Our opinion 8/10
XM is a leading name in the Forex market, recognized for its excellent Forex and CFD offerings. Trading fees are competitive and tend to match the market average, making it an attractive option for traders of all levels. The broker stands out for its quality customer service, comprehensive educational resources, and diverse range of financial products. With powerful trading platforms and a smooth user experience, XM offers a reliable and efficient trading environment, suitable for both beginners and experienced traders.
Admin
Positive points
- Wide variety of available instruments
- Fees in line with (or better than) market averages
- Highly regarded customer support
- Up to 8 trading accounts per client
Negative points
- No direct share purchases
- No ETFs
- Limited crypto offering
FAQ about the broker XM
Yes. The demo account allows you to trade with virtual funds, taking on no risk. It lets you test your strategies and become familiar with the platform.
Yes. XM offers extensive training for beginners, including videos, webinars, and other educational materials. Users can access technical analysis tools and tutorials on a variety of topics, from basic trading principles to advanced strategies.
XM’s multi-asset offering includes currencies (Forex), CFDs on stock indices, CFDs on shares, as well as CFDs on metals and energies.
XM provides several trading platforms, most notably MT4 and MT5. These are known for their reliability and advanced features, offering users a smooth and efficient trading experience. The platforms work across a wide range of devices, including PCs, Macs, and mobile devices, ensuring traders can access the markets anytime and anywhere.
Yes. XM offers Islamic accounts upon request, which adhere to Islamic finance principles. These accounts do not charge swap fees for positions held overnight, so Muslim traders can participate in the financial markets without going against their religious beliefs.
No. XM does not offer a stocks and shares ISA (a UK-specific product). Traders interested in that type of tax-efficient account would need to look to other brokers. XM focuses mainly on a broad range of CFDs and other financial instruments.
Yes. XM is a reliable broker regulated by several authorities, such as ASIC (Australia), CySEC (Cyprus), FSC (Belize), and DFSA (Dubai). These regulations ensure XM follows strict security and transparency standards, providing maximum protection for traders.
Opening an account with XM involves a straightforward online process (personal information, KYC) that grants you access to the XM members area. You then choose which type of multi-asset account you want: XM Ultra Low Standard, XM Ultra Low Micro, or XM Zero.
The minimum deposit to open an account at XM is 5 US dollars or the equivalent in another currency. This low initial deposit makes trading accessible to a wide range of traders, whether they’re beginners or experienced.
User reviews
Write a message
Last updated on 20/02/25
Explore the forum, learn, and exchange with the community
Visit the forum
