Review of XM Forex Broker
In your search for the best forex brokers, XM Global may have come up. This isn’t surprising; XM is widely known and has over 3,500,000 clients across 196 countries. This highly-established global investment firm is a true leader in the investment industry. In this review of XM Forex broker, we’ll take a look at their services, account types, deposit and withdrawal options, and more. Let’s get started!
Pros and Cons
To start off our review, we wanted to share what we love about XM broker – and what we think needs improvement.
| Pros | Cons |
+Over 30 languages are supported + Many trading platforms are available + More than 25 payment methods are supported + All clients have negative balance protection + Over 99% of all orders are completed in under one second + Has won numerous awards as Best Broker from various organizations + It is highly regulated and places a huge priority on client safety | – Smaller product portfolio than some competitors – Forex fees are not very competitive |
Key Features
The XM broker offers a significant number of features for its users – we’ll give you an overview of the key ones.
- Personal account manager
- Unlimited video tutorial access
- Forex market research access
- Daily Forex webinars
- Daily technical analysis
- Daily market outlook for Forex
We’ve compiled more key information about XM in the table below:
| Trading Instruments | – Forex trading (55+ currency pairs)
– CFDs on Stocks (600+ companies)
– CFDs on Indices
– CFDs on Energies (gas, oil, and all major energies)
– Commodities (wheat, sugar, cocoa, and more)
– CFDs on Metals (palladium, silver, gold, and more) |
| Spreads | Spreads start as low as 0 pips, with no re-quoting. |
| XM Leverage/Forex Leverage | Leverages range from 1:1 to 888:1. |
| Trading Platforms | – XM Forex MT4 for PC, Mac, iPad, Android Tablet, iPhone, and Android Phone
– MT4 Multiterminal
– MT4 Webtrader
– MT5 for PC, Mac, iPad, Android Tablet, iPhone, and Android Phone
– MT5 Webtrader |
| Base Account Currencies | USD, GBP, EUR, CHF, JPY, HUF, AUD, PLN, RUB |
| Regulation | – CySec
– IFSC
– ASIC
– DFSA |
| Demo Account | Yes, a free demo account is available. |
| Islamic Account | Yes |
| Supported Countries | Most countries are supported, except for the U.S., Canada, and Israel. |
Account Types
There are three types of accounts that XM traders can make: Micro, Standard, and XM Zero. There can be more account types available on XM broker, that depend on your country.
| Micro | Standard | XM Zero |
| Description | This account has a very low minimum deposit and a lower contract size than the Standard account type. | A standard account is a great fit for the average trader; it has the higher lot size like an XM Zero account, with a lower minimum deposit like the Micro account. | This type of account has ultra-thin spreads, 1 click trading, and no fees for withdrawals and deposits. |
| Base Currency Options | USD, EUR, GBP, JPY, CHF,
AUD, HUF, PLN, RUB, SGD, ZAR | USD, EUR, GBP, JPY, CHF,
AUD, HUF, PLN, RUB, SGD, ZAR | USD, EUR, JPY |
| Contract Size | 1 Lot = 1,000 | 1 Lot = 100,000 | 1 Lot = 100,000 |
| Spreads | 1+ pip | 1+ pip | 0+ pip |
| Lot Restriction per Ticket | 100 | 50 | 50 |
| Commission | No | No | Yes |
| Maximum Pending/Open Orders | 200 | 200 | 200 |
| Minimum Deposit | $5 | $5 | $100 |
Deposit and Withdrawal Options
One of XM’s perks is a wide variety of payment methods. Below are the deposit options, along with their respective processing times:
| Deposit Option | Processing Time |
| Credit and Debit Cards (Trastra VISA) | Instant |
| Bank Wire Transfer | Varies, depending on business days, transfer type, and bank |
| Skrill | Instant |
| Neteller | Instant |
And the withdrawal options and processing times are as follows:
| Withdrawal Option | Processing Time |
| Credit and Debit Cards (Trastra VISA) | 24 hours for processing; 2-5 days to receive payment |
| Bank Wire Transfer | 24 hours for processing; 2-5 days to receive payment |
| Skrill | 24 hours; receive payment on the same day as processing |
| Neteller | 24 hours; receive payment on the same day as processing |
Keep in mind that there are some withdrawal requirements that must be fulfilled. In order for an XM user to withdraw money, their account needs to be validated. To do so, they must provide certain documents in the XM Member’s Area: namely, an ID document and Proof of Residency.
XM users are allowed to make withdrawals even if they have an open position; however, there are two conditions that apply:
- If a withdrawal request would make the level of margin fall under 150%, it won’t be accepted between Monday 01:00 and Friday 23:50.
- If the level of margin would fall beneath 400%, it will not be accepted on the weekend (Friday 23:50 to Monday 01:00).
Promotions
When you go through the XM broker sign-up process, you’ll get access to all kinds of benefits, which are listed on the company’s promotions page. Some of these promotions include:
- Free VPS Services: Such services eliminate downtime, increase the trading speed, are online 24/7, and are accessible from anywhere.
- No Deposit and Withdrawal Fees: Account funding is instant and with no hidden commissions or fees. E-wallet and credit card deposits and withdrawals don’t come with a fee, and bank transfers greater than 200 USD are also covered under this promotion.
Best Payment Solutions for XM Users
After thoroughly reviewing the XM Forex broker, we can see why it is so reputable and popular. We are especially impressed with the number of platforms, supported languages, and safety measures that the broker implements.
If you are also impressed with XM and are going to sign up for an account, you may want to decide which deposit and withdrawal methods to use. Firstly, we would not recommend making bank transfers; they are only fee-free for deposits and withdrawals greater than 200 USD. Furthermore, their processing time is much slower than other payment methods.
If you prefer to use a debit or credit card, the Trastra Visa card is an excellent option. Why? Well, this card lets you spend cryptocurrency as fiat money! XM does not accept cryptocurrency payments, but you can easily convert your crypto into your base account currency and pay with the card.
E-wallets are also a great payment method for XM users; not only are deposits and withdrawals free, but they also have the shortest withdrawal processing time. There are a large number of e-wallets accepted by XM, but our favourites are Neteller and Skrill. Not only are they reputable and feature-rich, but we can also get you the best terms. Whether you want fast track verification, a free prepaid card, or easier access to VIP levels, Baxity’s partnership with these e-wallets can do that for you!
FAQ
Are there any deposit/withdrawal fees?
There are zero fees on deposits and withdrawals for all e-wallet and credit card transactions. Bank transfers above 200 USD also have zero fees.
What is the minimum deposit/withdrawal amount on XM?
The minimum amount you can deposit or withdraw on XM forex broker depends on your account type: the minimum amount for Micro and Standard accounts is $5. For XM Zero accounts, however, the minimum deposit/withdrawal is $100.
How do you contact XM customer support?
For any questions you may have about the XM Forex broker, you can reach their customer support team via email at support@xm.com. You can also call or fax them at +357 25029933/+357 25345225, respectively. Furthermore, live chat is also available for account holders.
FAQs
Is XM broker legit? XM is a legit broker and is currently regulated by three securities commissions – Cyprus Securities and Exchange Commission (Reg. – CySec 120/10), Australian Securities and Investments Commission (Reg. – ASIC 443670), and International Financial Services Commission (Reg.
What is the rating of XM Global? ›
XM Group is considered highly trusted, with an overall Trust Score of 90 out of 99.
How long does it take to withdraw money from XM Global? ›
Your withdrawal request is processed by our back office within 24 hours. You will receive your money on the same day for payments made via e-wallet, while for payments by bank wire or credit/debit card it usually takes 2 - 5 business days.
What broker is better than XM? ›
Summary
| Broker | Info |
|---|
| FxPro | Global CFD and forex broker |
| FXTM | Global CFD and forex broker |
| FP Markets | Australian CFD and forex broker |
| Markets.com | Global CFD and forex broker |
1 more rowTrading fees
The available accounts, the XM Standard, Micro, and Ultra-Low make money by charging 1.7 pips on the spread while XM Zero account owners pay a flat commission of $3.5 per lot plus a small spread cost. The fees are built into the spread, 0.7 points is the average spread cost during peak trading hours.
Is it safe to invest with XM? ›
Is XM a scam? No, XM is not a scam. It is a strictly regulated, real, for-profit company. Financial markets, however, especially forex and CFD trading, pose significant risks over which no company has total control, so invest only what you can afford to lose in case the market goes haywire.
How do I withdraw money from XM Global? ›
To withdraw money from XM , follow these steps:
- Log in to your account.
- Select 'Withdrawal' from the menu.
- Select the withdrawal method and/or the account to withdraw to.
- In case of a wire transfer, you have to give the details of your bank account and your bank.
- Enter the amount to be withdrawn.
- Submit your request.
XM is a CFD broker. Just a quick heads up: XM focuses mainly on CFDs. Usually we don't recommend CFD products for beginners because it can be quite risky. If you'd like to stick with CFDs, you might want to take a look at our article on CFD trading tips.
What is the highest leverage on XM Global? ›
You can trade with maximum 1:1,000 leverage in Standard Account, Micro Account, XM Ultra Low Account Standard and XM Ultra Low Account Micro with XM.
What is minimum deposit XM Global? ›
Minimum deposit amount at XM
The minimum deposit at XM is $5. The minimum deposit means that you will need to transfer this amount to your brokerage account from your bank account to start trading. It is sometimes called an initial deposit or funding.
The “No Deposit Trading Bonus Scheme” applies to all clients who open real Account with XM in accordance with the rules set herein and granted trading bonuses may be used for trading purposes only and cannot be withdrawn.
How many traders does XM have? ›
XM is an online broker for trading on forex with a strict no re-quotes and no rejections policy. As an internationally regulated and licensed broker, XM has more than 3.5 million clients in over 200 countries with access to trading more than 1,000 instruments.
Who owns XM brokers? ›
Trading Point Holdings Ltd, a private limited company incorporated in Cyprus, is the owner of XM .
Who is XM competitor? ›
Top Qualtrics XM Platform Alternatives
- Medallia Experience Cloud.
- SurveySparrow.
- Typeform.
- InMoment XI Platform.
- Pisano.
- Forsta.
- SurveyMonkey Enterprise.
- Alida CXM.
The Minimum Amount To Start Forex Trading Now
If you must start trading right away, you can begin with $100 but for a little more flexibility, you will need a minimum of $500. This will give you enough buying power to trade a standard lot, which is 100,000 units of currency.
Is $100 enough to start forex? ›
If you wish to trade the forex market, $100 will get you started and may even provide you with a new source of income from the comfort of your own home. Your first $100 forex account can work for you with a good trading strategy.
How much money can a beginner forex trader make? ›
Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% per month, thanks to leverage. Remember, you don't need much capital to get started; $500 to $1,000 is usually enough.
How much should I be paying for XM radio? ›
SiriusXM Prices
| Package | Monthly Fee | Additional Features |
|---|
| SiriusXM All Access | $21.99 | Traffic |
| SiriusXM Mostly Music | $10.99 | Traffic+TravelLink |
| | NavTraffic+NavWeather |
| | NavTraffic+NavWeather+TravelLink |
1 more rowApr 13, 2023
The XM minimum deposit amount required to register a live trading account is $5 / R80 ZAR for the Micro, Standard, and Ultra Low accounts. The minimum deposit for the Shares Account starts at $10 000 / R160 000 ZAR.
Does XM allow scalping? ›
Yes, we do.
The “Trading Bonus Scheme” applies to all clients who open real Account with XM in accordance with the rules set herein and granted trading benefits may be used for trading purposes only and cannot be withdrawn.
Where is XM broker located? ›
XM is a forex and CFD broker. The company offers forex trading, stock indices, free forex seminars, MT4 video tutorials, multi-asset trading, forex and stock market news, free forex signals, and multi-asset MT5 platform. It is based in Belize City, Belize.
How much money can I withdraw from XM account? ›
The withdrawal request will be processed within 24 hours and the funds should be transferred to your account within 2 to 5 business days. XM covers all transfer fees using this method, so all withdrawals are completely free. Also, there's no limit when it comes to the withdrawal amount.
Does XM give credit? ›
Credit Bonuses will be credited to Eligible Clients' live Micro, Standard or Executive Account(s) with XM, in each instance, within twenty-four (24) working hours after their first deposit with XM. 4.4. Credit Bonuses may be used for trading purposes only and cannot be withdrawn.
Does XM Global have Cryptocurrency? ›
Yes, you can trade Cryptocurrency CFDs of XM in all types of accounts except Shares Account. If you wish to trade Cryptocurrency CFDs, please use Standard Account, Micro Account, XM Ultra Low Account Standard and XM Ultra Low Account Micro. Cryptocurrency CFDs of XM are available 24/7.
Does XM Global have Bitcoin? ›
BTCUSD trading is available on the XM MT4 and MT5 platform.
Is SiriusXM losing popularity? ›
The total gain of 134,000 subscribers in the latest period compared with a loss of 231,000 in the year-ago period. As of the end of 2022, Sirius' self-pay subscriber base stood at 32.4 million, with its total users reaching 34.3 million.
Is XM radio really worth it? ›
You might be asking yourself why you should spend a few bucks per month when you could be listening to free local radio. The answer is that you get what you pay for. With a SiriusXM subscription, you get to enjoy a variety of perks, including more channels, quality shows, and far fewer commercials.
What countries are banned from XM? ›
Restricted Regions: XM Global Limited does not provide services for the residents of certain countries, such as the United States of America, Canada, Israel and the Islamic Republic of Iran.
What is the best leverage for $100000? ›
Many professional traders say that the best leverage for $100 is 1:100. This means that your broker will offer $100 for every $100, meaning you can trade up to $100,000. However, this does not mean that with a 1:100 leverage ratio, you will not be exposed to risk.
The best leverage in forex markets depends on the investor. For conservative investors, or new ones, a low leverage ratio of 5:1/10:1 may be good. For seasoned investors, who are more risk-friendly, leverages may be as high as 50:1 or even 100:1 plus.
Which XM account has the lowest spread? ›
XM Zero Account
- Spreads as low as 0 pips.
- 10 Trading Platforms.
- Available for MT4 and MT5.
XM allows you to trade GOLD CFD with the same maximum leverage 1:1,000 as FX. You will not be bothered by a special procedure or a fee to start GOLD trading.
How much is needed to trade nasdaq on XM? ›
At XM we offer Ultra Low Micro and Ultra Low Standard Accounts that can match the needs of novice and experienced traders with flexible trading conditions.
...
Trading Conditions.
| Margin requirement | 10% |
|---|
| Description | Nasdaq Inc. |
| Min. Price Fluctuation | 0.01 |
| Value of Minimum Price Fluctuation | 0.1 USD |
| Value of 1 lot | 10 Shares |
2 more rowsCan I Hold Multiple Trading Accounts? Yes, you can. Any XM client can hold up to 8 trading accounts of their choice.
How to get XM $5,000 bonus? ›
XM Welcome Bonus $5,000. The XM Welcome Bonus is available for users who deposit funds into their account until receiving the bonus amount of $5,000. After that, you get a 20% bonus on the amount you deposit. XM gives you a bonus on a deposit as small as $5.
What is the deposit bonus for XM in 2023? ›
XM broker offers a welcome deposit bonus of up to $5,000 which will allow you to start trading with more capital and therefore the ability to open more positions or positions with a larger volume than you could handle with your funds alone.
Is XM Global Limited regulated? ›
XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC. XM has low stock CFD and withdrawal fees.
How much leverage does XM Trader have? ›
Leverage up to 30:1
Trade Forex, Individual Stocks, Commodities, Precious Metals, Energies and Equity Indices at XM.
Is XM Global a good broker? ›
XM is a legit broker and is currently regulated by three securities commissions – Cyprus Securities and Exchange Commission (Reg. – CySec 120/10), Australian Securities and Investments Commission (Reg. – ASIC 443670), and International Financial Services Commission (Reg. – IFSC/60/354/TS/19).
At XM:
- “ Top 20 on 20” (CHR): 1,049,200.
- “ Flight 26” (modern AC): 741,600.
- “ 80s on 8”: 698,300.
- “ 70s on 7”: 687,400.
- “ 60s on 6”: 581,300.
- “ Highway 16” (new country): 579,500.
- “ Top Tracks” (classic rock): 534,900.
- “ The Blend” (Lite pop hits): 532,400.
Sirius XM's Subscription business,which generates revenues from fees charged for self-pay and paid promotional subscriptions, is expected to contribute $6.2 billion to Sirius XM's 2020 revenues, making up 77% of the company's $8.1 billion in revenues for 2020.
Why is Sirius stock so cheap? ›
Sirius XM stock (NASDAQ NDAQ +0.8% : SIRI), a leading provider of satellite radio, has a large number of outstanding shares of around 4 billion (in 2022) which makes its stock trade at a low price in the range of around $6 to $7 levels usually.
What is the minimum deposit for XM Global broker? ›
Minimum deposit amount at XM
The minimum deposit at XM is $5. The minimum deposit means that you will need to transfer this amount to your brokerage account from your bank account to start trading. It is sometimes called an initial deposit or funding.
Who are the owners of XM Global? ›
Trading Point Holdings Ltd, a private limited company incorporated in Cyprus, is the owner of XM .
What is the minimum withdrawal from XM? ›
The minimum deposit for an XM account is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, and $10 000 for SHARES accounts. XM minimum withdrawal value is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, while for SHARES accounts are $10 000.
Can you make money on XM trading? ›
Copy trading with XM can be profitable. Using the copy trading service, you can earn additional income, but also gain trading experience by watching the trades of qualified traders. The profit amount can vary depending on the risk level of the strategy, your deposit amount, trading style of the trader you are copying.
Is XM broker regulated by us? ›
XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC. XM has low stock CFD and withdrawal fees.
How much does XM charge per trade? ›
No Fees or Commissions.
The first four types of accounts do not charge any commissions whereas the XM Zero account has a $3.5 commission per $100,000 traded. *Please note that XM Zero, Ultra Low and Shares accounts are not available to all the entities of the XM Group.
What can I trade in XM Global? ›
We offer a range of over 50 currency pairs and CFDs on precious metals, energies, equity indices and individual stocks with the most competitive spreads and with the no rejection of orders and no re-quotes execution of XM.
Yes, we do.
How much leverage does XM Real account give? ›
At XM we offer both Micro and Standard Accounts that can match the needs of novice and experienced traders with flexible trading conditions and leverage up to 1000:1.
How many stocks are in XM? ›
What stocks can you trade at XM?
| XM | FXTM |
|---|
| Approx. number of stocks (#) | 1240 | 172 |
About XM. XM is a forex and CFD broker. The company offers forex trading, stock indices, free forex seminars, MT4 video tutorials, multi-asset trading, forex and stock market news, free forex signals, and multi-asset MT5 platform. It is based in Belize City, Belize.
