XM Review

  • Regulated by FCA, ASIC, CySEC, BaFin, CONSOB, PSZAF, ACPR, CNMV, AFM
  • Headquarters Cyprus
Website : Xm.com
Established : 2009
Country : Cyprus
U.S. Clients Allowed : No

Background

XM.com provides the whole collection of MetaTrader platforms. The broker offers economical rates for FX and CDF trading in a multitude of financial instruments including cryptocurrencies, through its regulated subsidiaries in the European Union and Australia.

Pros

  • Regulated in several jurisdictions such as the UK, Cyprus (EU), and Australia
  • Economical pricing on XM Zero account
  • MT5 Web Platform
  • Variety of international live seminars

Cons

  • Single-stock CFDs are exclusive to the MT5 platform
  • Elevated spreads on Micro and Standard trading accounts

Established in 2009, XM.com offers the whole range of MetaTrader platforms developed by MetaQuotes Software Corporation. Over the years XM.com has expanded into a online broker dealing in several asset classes such as 400 instruments, inclusive of 356 CFDs and 57 forex pairs. It also offers 5 CFDs for crypto-trading in Ripple, Bitcoin, Litecoin, Ethereum and Dash.

Is XM.com a safe broker? Evidenced by the following regulations, it is safe to say it is. Trading Point Holdings Ltd is the holding company for XM Group, which operates XM.com. The parent firm is regulated with FCA in UK, MiFID complaint, regulated with CySEC in Cyprus and ASIC in Australia through its subsidiaries.

Commissions & Fees

The spreads and commissions at XM are dependent on the type of the trading account. There are 2 choices when it comes to commission –free accounts – Micro and Standard account. The Zero-Account which is charged with commission

For instance, the average spreads levied on Euro/Dollar pair in the Zero account is 0.1 pips excluding the commission, whereas it is 1.7 pips for the same pair in the Standard and Micro account. XM Zero account is the broker’s most competitively priced account type in terms of the all-in cost 1.1 pips, levied per trade. This is calculated as 0.1 spread + 1.0 Round Turn commission, which is 5 dollar per trade.

A point to be noted, XM.com is the principal broker in execution of traders and does not offer re-quoting across all its accounts in terms of execution medium as a broker. This enables it to offer competitive spreads during particular market conditions. Accordingly depending upon the trader’s requirement, both the account types can be useful.

XM Market Analysis

XM’s in-house team of experts is responsible for creating quality research content such as daily market reviews, technical and fundamental analytics and videos. The broker also offers 6 types of different calculators from its all-purpose calculator to its pip-value calculator, which can be used in the pre-trade planning and research. It also features an economic calendar provided  as a third -party service.

The traders have the access to XM’s trading signals which covers ten instruments and is created twice daily. This feature is available to the live account holders for the purpose of manual trading.

Meanwhile the automated trading system is limited to MetaTrader platform, and is available as Signals Market feature, right after XM stopped offering ZuluTrade and MirrorTrader its social –trading functionality.

XM has made extensive additions to research offering; also hired more in-house analysts to generate quality content for the benefit of the traders.The broker has quality offerings in terms of research which landed it the 18th position out of the 43 brokers reviewed for the 2018 Review.

XM Trading Platforms

Only MetaTrader platforms are available at XM.com; these platforms are industry popular and provide an outstanding trading experience. MetaTrader 4 and MetaTrader 5 are available as desktop, web, mobile versions.

While MT4 and MT5 have a standard functionality with a slight alteration from broker to broker, there can be vast differences in how the platform is developed for trading, spreads and commissions, execution of trades, features, administrative functionality and a host of other tools.

Besides competitive spreads, a variety of instruments and multi account types, XM’s MT4 and MT5 platform’s setup is in line with the default MetaTrader experience, through installation of MT4/MT5 software on Windows or Mac operating systems.

Mobile Trading

Since XM is only limited to Meta Trader platforms, the XM mobile apps is the IOS and Andriod variant of MT4 and MT5 which are pretty standard and can be installed free of charge from Apple Store or Google Play.

Other Notes

A trader can hold up to 200 positions at one time, at XM.com which is inclusive of pending orders. The broker can also load up to 50 typical lots at a given point, for market, limit orders and stop loss. The broker also offers a phone brokerage assisted services to clients

The broker regularly hosts global seminars and workshops which gives its clients an opportunity to meet with XM’s representatives and find out more about the broker and its offers and promotions.

XM opened CFD trading for cryptocurrencies such as Dash, Litecoin, Ripple, Ethereum and Bitcoin in 2017. Thus, enabling traders and investors to get access to digital assets without the ownership of the underlying.

XM provides a 50% margin, on crypto-trade with a maximum trader size capped 1 Bitcoin and a minimum capped at of 0.1 Bitcoin.

The Botton Line

 

XM is often picked by Traders who are looking for a regulated online MetaTrade dealer, offering both MT4 and MT5 platforms, with variety of markets at economical pricing on its Zero account. XM does offer 400 instruments and 57 forex pairs, and 5 crypto CFDs, however this in comparison to several brokers offering a variety of thousands of instruments, is a shortcoming.

 

XM Review

XM Review
8.8

Easy to use

8.8 /10

Fees

8.8 /10

Support

8.8 /10

Payment

8.8 /10

Pros

  • Regulated in several jurisdictions
  • Economical pricing on XM Zero account
  • MT5 Web Platform
  • Variety of international live seminars

Cons

  • Single-stock CFDs are exclusive to the MT5 platform
  • Elevated spreads on Micro and Standard trading accounts
Adam Graystone

Adam Graystone

Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years as an independent trader and financial advisor. Adam is a certified technical analyst and has an extensive experience in Forex and Commodity Futures trading, with his career spanning over different trading institutions including NYSE and Chicago Mercantile Exchange.