XM Review 2020 Trading Platforms, Account Types, Spreads, Leverage & More

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With four different accounts across three major jurisdictions, XM is a global force with a presence in almost every country. They provide access to everyone, in every province, with excellent compliance and margins. You will find everything you are looking for in a broker, after reading our XM review. Trade over 1200 different stocks and shares, among other markets with various asset classes that span every part of the forex market.

XM trading was founded in 2009. The broker is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the International Financial Service’s Commission of Belize (IFSC).

Our XM review shows that the broker has a multi-asset class broker offering access to more than 1000 plus tradable CFDs on metals, indices, commodities, forex, stocks, and energies. The platform used on XM is MetaTrader 4 and MetaTrader 5. The platforms are available on mobile (Android and iOS), Web and PC (both Mac and Windows).

XM trading gives its clients features that are great for both beginners and expert traders. You will find impressive educational material, features galore, webinars, video tutorials for platforms, and daily interactive live trading rooms.

This is just the tip of the iceberg when trading on XM. The broker has four different accounts that are tailored to suit every trader from almost anywhere in the world. They all have various features and benefits. XM trading means getting exactly what you are looking for.

There is a good range of products for you to trade when using this broker. Our XM review shows diversity is apparent in its offering of many assets that include over 1,200 individual stocks and shares. The regulation by two tier-1 jurisdictions and one tier-2 jurisdiction offers safety to clients.

As a client of XM global, you will be able to enjoy all this, if you get the right account for your needs. In our XM review, we are going to look through everything important to you. We will cover fees, account types, platforms, spreads, and other details.

By the end of this XM review, you should have decided on this broker and hopefully get the account that suits you best.

Pros

  • Regulation by reputable agencies like ASIC, CySEC, and IFSC
  • Zero commission and leverage of up to 1:888 on some accounts
  • Over 1000 tradable assets in forex, energies, metals, indices, stocks, and commodities
  • An impressive library for research and learning, with daily live trading interactive rooms

Cons

  • They do not offer an ECN account.

NOTE: The leverage you get here depends on the financial instrument you are trading and the country you come from. Some countries do not allow high leverages.

 XM Review, XM, XM Trading, xm brokers

XM Review 2020

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XM Review – Safety and Regulation

As we have mentioned, XM global is regulated and authorized by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the International Financial Services Commission of Belize (IFSC).

The Cyprus Securities and Exchange Commission registers them under the name Trading Point of Financial Instruments Ltd. We confirmed the registration from the CySEC website, to be sure of their regulation.

The Australian Securities and Investment Commission also registers XM trading under the name XM Trading Point of Financial Instruments Ltd. We confirmed their registration on the ASIC website.

In Belize, they’re regulated by the International Financial Services Commission of Belize (IFSC). We checked the register there too, and it all checks out.

There are additional protections offered by XM brokers. They include:

  • They have a negative balance protection policy.
  • They hold client funds in segregated accounts that are hosted by tier-1 banking institutions.
  • They are a member of the Investor Compensation Fund organization.

On the XM brokers website, they list all the investor protections availed to users. It is a long list with over 15 items. Rest assured that when it comes to investor protection, you are covered when XM trading is involved.

XM safety and Regulation

XM Review 2020 – Safety and Regulation

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XM Products You Can Trade

In our XM review, we have mentioned that the broker offers more than 1000 tradable assets that cut across all fields, including:

  • Forex pairs
  • Stocks
  • Indices
  • Metals
  • Commodities
  • Energies via Spot
  • Futures
  • CFD products

The wide range of assets spans at least 55+ forex pairs, eight commodities, 1200+ stocks, 30 indices, four metals, and five energies across spot and CFD products.

Here is a table containing just some of the XM trading markets available to you.

You can check out more details about what they offer in terms of tradable items on the XM broker’s website.

The XM trading costs, like spreads and commissions, change depending on the account you use. For example, when on the Standard and Micro accounts, you will trade commission-free with spreads that are as low as 1 pip. The Ultra account offers commission-based trading with spreads that go as low as 0.6 pips.

On the other hand, the zero accounts offer traders commission-based trading with spreads that go as low as 0 pips.

Global Account Opening

Clients can choose from 4 different types of accounts offered by XM globally. They are spread across different jurisdictions and regulatory rules. Each account has its features, unique from the rest. The XM accounts are all suitable for beginners and advanced traders alike.

The large range of XM accounts have benefits that make them worth looking at individually. The accounts are designed based on the regulatory body that controls how they operate, the choice of commission or no commission, shares account, Islamic swap-free account, and demo account.

We will look at the details of every XM trading account.

XM Trading Micro Account  Base Currencies Allowed

XM Review 2020

1. Trading Micro Account

XM Review 2020

2. Trading Standard Account

XM Review 2020

3. Trading Ultra-Low Account

4. Trading Shares Account

You should keep in mind that, depending on which regulation you fall under, you could have leverage as high as 1:888 or max out at 1:30. For our XM review, we found that your sign-up process provides the details for each country.

You can get the XM trading demo account. Simply click where it says ‘Open Demo Account’ on the XM brokers website and get redirected to the demo account registration page. You’ll have to enter detail’s like your name, country of residence, town/city, phone number, email, and language you prefer.

Our research for this XM review shows that the details you have to enter should include; trading platform type, account type, account base currency, leverage, and the amount you would like to invest.

After that, you will need to set the account password. The process is short and easy.

An email will be sent to you with the MT4 or MT5 ID and the link to download the XM MT4 or MT5 trading platform.

For this XM review, opening the account involves clicking where it says ‘Open an Account.’ You will be redirected to an application page that will ask for personal details, employment details, investor details, and finally, knowledge/experience of the markets.

After you are accepted, you will be able to access your own member’s area online. Here, you will be able to open, close, and manage different accounts. You will also have access to deposits and withdrawal options.

Given that XM brokers offer a wide variety of account types, it might be overwhelming for beginners, but it provides certain flexibility needed by all who wish to trade. Included in XM global offering, is the ability to choose the jurisdiction and commission-based or commission-free accounts.

NOTE: XM brokers do not take clients from the United States of America, Canada, the Islamic Republic of Iran, or Israel.

Deposits and Withdrawals

XM brokers offer clients a wide range of options for withdrawals and deposits. You can enjoy zero fees as a client of XM today using the following channels:

  • Neteller
  • Moneybookers
  • All major credit cards like Visa, MasterCard, Electron, Maestro and China UnionPay

From what we saw on the website, your deposits into your account are shown instantly. All your deposit’s and withdrawal’s can be made easily from the broker’s website by accessing the XM member’s area section.

The instant reflection of funds in your account is most likely because they use electronic cards and methods that are solely meant to be faster than conventional means.

XM Web, Desktop and Mobile Trading Platforms

With XM, traders can trade on a variety of platforms that they can easily access by going to the homepage. The platforms are also accessible from the member’s area online.

MetaTrader 4

The MetaTrader 4 platform is available for download on the XM website. Both Windows and Mac users can download and install it on their devices. With it, you will get features like:

  • Real-time forex and CFD quotes
  • Over 30 technical indicators to enhance your trading
  • Several timeframes and chart types that include line, candlestick, and others
  • No restrictions on trading
  • Fast order execution

MT4 is a world-renown platform that will give traders the best features and ease-of-use benefits.

MetaTrader 5

The XM MetaTrader 5 platform is also available for download or use on the Web. Both Mac and Windows users can install it on their devices. This platform will give you access to additional features like:

  • A display of the market depth of up to Level II with technical indicators
  • Automated trading opportunities with MQL5 community and Expert advisors
  • A connection to RAW prices
  • Spreads that start from 0.0 pips
  • Improved strategy tester for expert advisors and algorithm trading
  • All kinds of trading styles are allowed

MT5 is not very different from MT4, but it has several added features to appeal to new traders and even experienced traders who may want to try something different.

XM Web, Desktop and Mobile Trading Platforms

Web Trader from MetaTrader

On XM, you can access your MT4 or MT5 trading accounts from any web browser. It has everything that the desktop apps have, including access to ECN pricing.

On the Web Trader, the users will have:

  • Price quotes delivered in real-time
  • Multi-language support
  • A view of market depth with up to Level II pricing
  • Easy access for trading because you do not have to download
  • Access to various order types and execution modes
  • Data synchronization across all platforms
  • Access to online customer support for 24 hours a day, five days a week
  • One-click trading is available.
  • Access to a complete suite that has everything the installed versions have

For users of the Web Trader version, there is no need to feel like they may be missing anything by not installing the software. They get the same things that clients who have installed MetaTrader 4 or 5 get.

XM Mobile Trading Platforms

XM clients have access to download the XM Meta Trader 4 and XM Meta Trader 5 apps. You can get them from the Apple App Store if you are using the iOS devices or from Google Play Store if you are using Android devices.

Users can trade on these mobile apps on any supported devices. The apps have several features you get to enjoy. The design is such that you get the full functionality of the desktop software and Web Trader so that you do not miss anything.

With MT4 for mobile, you will have access to things like:

  • Real-time charts that have scroll and zoom functions
  • 30 technical indicators
  • Three different chart types
  • Full functionality of the MT4 platform

With MT5 for mobile, you can have

  • Full functionality of the MT5 platform
  • Multi-asset class access
  • All kinds of trading order types are supported
  • Analysis tools are built-in

With the mobile trading apps, you never have to be worried that you might be missing anything.

The XM Mobile Trading App

XM has their app that you can use to access and manage your MT4 and MT5 trading accounts. Users can also be able to use this app to access the settings on their accounts from their phones.

There’re a variety of thing’s you can do with the app, aside from management. You can use it to withdraw and deposit money into your account. You can also use it to get updated on the market analysis and receive news releases.

Typically, there are daily market reviews you can get three times a day; forex news is released about four times a day, there are technical market analysis and FX signals, in case you need them.

It’s a useful tool to have when you want to bring convenience to your trading activities.

The app is not just a way for you to access MT4 and MT5. It is also designed to trade using it, as well as through your MetaTrader accounts.

XM Review 2020

The XM trading Platform Tutorial Videos

If you’re a new trader who want’s to test out the demo trading account and grow your skills, you may find the platforms challenging. For that reason, XM has many videos that can guide you through how to use the MetaTrader platforms.

Many traders who have watched the videos managed to learn how to use MetaTrader this way. If you feel like you do not fully comprehend something or want clarification, you can check them out.

XM Trading Features

First, you can get the best out of the Trader’s Toolbox offered by MetaTrader. However, there are additional algorithmic trading tools and access to trading signals from the XM guru and MQL5.

All these are tools that you will need to make the best of your trading efforts. Here are some of the additional service’s that enhance the trading experience over at XM:

  1. XM trading Tools

XM gives its clients access to a toolkit that contains algorithm-based trading tools. They are sourced from Avramis Despotis. You can use them on the MT4 and MT5 platforms. They include:

  • Avramis River Indicator
  • Avramis Ribbon Indicator
  • Avramis Ichimoku Indicator
  • Avramis Bollinger Bands Indicator
  • Avramis ADX and PSAR indicator

To access all these, you will need to contact the Personal Account Manager.

  1. MQL5 Trading Signals

If you are the holder of a live account on XM, you get free signals from Avramis Despotis. You can access them through the XM app as well if you have a live account.

XM Commissions and Spreads

Trading costs vary on XM. They depend on the account type and the markets you are trading. The XM Micro Account and the XM Standard Account offer traders the chance to trade commission-free, with fees deriving from the spreads and overnight swaps.

XM is a market maker. They assure clients that there is a ‘no rejection or requote’ policy. The XM Zero Account and Shares Account, unlike the Standard and Micro accounts, are commission-based.

Forex Trading on XM

XM gives it clients commission-free trading on forex pairs when on the Standard and Micro accounts. Fees to hold trader overnight/swaps and the average spreads are all found on their website.

Here, we will show you just partials of the tables of what you can expect when trading forex on XM. Find the full tables here: https://www.XM.com/forex-trading

  • For Standard Accounts

  • For Micro Accounts

  • For XM Ultra-Low Standard Accounts

  • For XM Ultra-Low Micro Accounts

All the information on this table is accurate at the time of writing this review***

The average spread you see here is calculated throughout the day. The spreads on XM real accounts are narrower when the market conditions are normal. However, they may get wider when important news is announced, or there’s political uncertainty.

If you leave an open position for the next day of trading, you pay, or you obtain an amount calculated based on interest rates of the difference of two currencies in a pair. This is what’s called the swap.

For all the account types on MT4 and MT5, the leverage for USD/CNH, EUR/RUB, EUR/DKK, EUR/HKD, GBP/DKK, USD/DKK, USD/HKD, and USD/RUB, is capped at 1:50. However, for the USD/TRY and EUR/TRY, it is capped at 1:100

XM Commodities’ Spread and Conditions

Here are the items they have and the pertinent details you need to know about:

At the time of writing this, all the details are accurate.

The margin here is always 50% when you hedge positions on CFDs and have a margin level of over 100%.

XM does not offer their clients automatic rollover for new contracts of financial instruments with an expiration date.

Stocks on XM

Here is a partial table of the Stocks you will find on XM. For the complete list, go here: https://www.XM.com/stocks

At the time of writing this, the information in the table is accurate.

The swap rate here is calculated based on the stock currency’s relevant interbank rate. The swap values you see in this table are indicative of the annual percentage. Check out the XM trading hours to make sure that nothing happens without your knowledge.

Equity Indices on XM

Here are the indices CFDs you will find. The tables here are partials. For the full ones, follow this link: https://www.XM.com/equity-indices

  • Cash Indices CFDs

XM Review 2020

  • Futures Indices CFDs

XM Review 2020

Check out the tables for Precious Metals here and the tables for Energies here.

XM Promotions and Bonuses

Brokers under the European regulator cannot give their clients bonuses and promotions. The ESMA rules and guidelines are clear about this. Clients registered under XM Trading Point of Financial Instruments Ltd., get two promotional offers for account services.

These are Free VPS Services and Zero Fees on Deposits and Withdrawals. Some of this might change going forward. At the time of writing this, XM is celebrating their tenth anniversary with a $1 Million promo.

XM 10 Anniversary Promotion

XM Customer Support

XM has support available 24 hours a day from Monday to Friday. You can get it through:

  • Live Chat
  • Email
  • Phone

It is available in the following languages: English, Greek, Tagalog, Vietnamese, Simplified Chinese, Traditional Chinese, Bahasa Malay, Slovakian, Bulgarian, Romanian, Bengali, Bahasa Indonesia, Polish, Hindi, Arabic, Portuguese, Czech, Urdu, Russian, French, Spanish, Italian, German, Thai, Nepali, Cebuano, and Serbian.

The Live Chat icon employs a live agent who becomes available in less than a minute. The operator knew the answers to our questions, and we can say the service was prompt and polite.

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XM Research and Education Tools

A cursory look through the website revealed that the broker has an impressive range of tools for traders to use. They include:

  • Market commentary
  • Stock market news
  • Forex previews
  • Technical analysis report
  • Analysis videos
  • Forex calculator

All these tools, combined with the signals and the algorithms, make you a powerful trader, once you learn how to use them all. You will also be able to get the education you need in three levels: The Primary Education Room, The Intermediate Education Room, and the Advanced Education Room.

There is a page where all the forex seminars and workshops are listed.

In Conclusion

Our XM review reveals that the broker offers clients four different accounts across several jurisdictions. Traders can choose from these offerings. They get to see what is available to them and what would be most suitable.

Clients who sign up with XM, get access to more than 1000 tradable assets across metals, energies, forex, indices, stocks, and commodities. With proper regulation, XM has grown to be one of the best forex brokers in the world.

Impressive research and education sections make it easy for beginners to get started. Find out more from their website and see if they are the ones for you.

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