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It is important to know about the broker before investing. tradingcritique.com offers an updated broker review of XM broker this 2023. XM Broker is one of the best award-winning brokers. They offer numerous trading platforms along with financial instruments.
XM (https://www.xm.com/) is an online global CFD and Forex broker. It was founded in 2009 with Belize as its headquarters. Currently, the company is built with over 450 experts with long years of experience in the financial sector. The company was fully regulated and licensed by CySEC and IFSC. XM has more than 5,000,000+ traders in 196 countries. They provide 1000+ trading instruments with 16 trading platforms; you can trade anywhere and anytime with this platform.
XM Global Limited does not provide services to certain countries, such as the United States of America, Canada, Israel, and the Islamic Republic of Iran. XM Provides 24/5 hours of live support with the help of Personal Account Managers. They offer customer service in 25 languages through the FAQ page, live chat, Email, and Phone calls.
Image 1: Home Page of XM website
Image Copyrights reserved to XM
XM global ltd was regulated and licensed by Cyprus Securities and Exchange Commission (CySEC), International Financial Services Commission (IFSC). They have received many awards in the field of brokerage and service.
| Country | Company name | Registration details | Regulations |
|---|---|---|---|
| Belize | XM Global Limited | License Number – 000261/158 | International Financial Services Commission (IFSC) |
| Cyprus | Trading Point of Financial Instruments Limited | License Number – 120/10 | Cyprus Securities and Exchange Commission (CySEC) |
XM received different awards for various services. These awards represent the excellent service of the XM broker.
| Awards | Awarded by |
|---|---|
| Best Trading Experience 2021 | Ultimate Fintech |
| Best FX Service Provider 2021 | City of London Wealth Management Awards |
| Best Retail Forex Broker 2021 | Global Forex Awards |
| Best Market Research and Education Global 2019 | Capital Finance International Magazine (CFI.co) |
| Best Customer Service Global 2019 | Capital Finance International Magazine (CFI.co) |
XM offers a range of over 55 currency pairs and CFDs on precious metals, energies, and equity indices with the most competitive spreads. They provide 16 trading platforms with 1000+ trading instruments. We will see in the following table their highlights.
Table 3 : Various trading instruments available in XM
| Trading types | Features to trade in EToro | |||||
|---|---|---|---|---|---|---|
Forex |
Available Forex pairs are | |||||
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Stocks |
Available Stocks CFDs | |||||
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Commodities |
Commodity products in XM | |||||
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Indices |
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Futures Indices CFDs | ||||||
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Cash Indices CFDs | ||||||
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Metals |
Spot Metals Instruments
Other Metals
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Energies |
Available Energy assets on XM
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Image 3: Market assets and instruments in XM
XM Broker provides trading platforms for customers to trade on Mobile and PC. They offer world-famous trading platforms such as MetaTrader 4 (MT 4) and MetaTrader 5 (MT 5). These platforms are fully customizable and run on a variety of devices.
MetaTrader 4 (MT 4) trading platform runs on various devices like PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet. All these 8 platforms can be run with 1 single login access. It contains historical database management and historical data export/import.
MT4 in XM provide 1000+ instruments with Forex, CFDs, and Future. XM MT 4 generates various custom indicators and different periods. It works with expert advisors, built-in and custom indicators.
MT4 does not offer to trade on stock CFDs.
XM MT4 Available on,
XM MT4 Features
Over 1000 Instruments Including Forex, CFDs and Futures
1 Single Login Access to 8 Platforms
Full EA (Expert Advisor) Functionality
50 indicators and charting tools
Micro Lot Accounts (Optional)
The XM MetaTrader 5 also offers pioneering features that the MetaTrader 4 can provide. It is designed to run on PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet. All these 7 platforms can be run with 1 single login access. This makes it an excellent multi-asset destination as it offers an additional 300+ shares of CFDs. MT5 contains more than 80 analytical objects.
XM MT5 Available on,
XM MT5 Features
1 Single Login to 7 Platforms
Over 80 Technical Analysis Objects
Market Depth of Latest Price Quotes
Image 4 : MetaTrader 4 and MetaTrader 5 in XM
XM offers to trade with Mobile Platform. Both MT4 and MT5 trading platforms are designed to run on mobile. It is very simple and flexible when trading with the mobile app.
The mobile application has features like 30 Technical Indicators and Built News Functionality with Push Notifications.
The app is available for download from the Apple App Store (iOS) and Google Play Store (Android). It’s completely free.
Image 4 : MetaTrader 4 and MetaTrader 5 in XM
XM website is available in many languages. All the languages and its websites are listed in the below table.
Table 4 : Multilingual trading websites of XM segregated continent wise
| No | eToro Trading Websites | Countries | Website Language |
|---|---|---|---|
| 1. | XM (Main) | Global | English |
| Continent 1 – EUROPE | |||
| 2. | XM UK | United Kingdom | English |
| 3. | XM Français | France | French |
| 4. | XM Italiano | Italy | Italian |
| 5. | XM Čeština | Czechia | Czech |
| 6. | XM Español | Spain | Spanish |
| 7. | XM Deutsch | Germany | German |
| 8. | XM Português | Portugal | Portuguese |
| 9. | XM på Svenska | Sweden | Swedish |
| 10. | XM Polski | Poland | Polish |
| 11. | XM Magyar | Hungary | Hungarian |
| 12. | XM Ελληνικά | Greece | Greek |
| Continent 2 – ASIA | |||
| 13. | XM 简体中文 | China | Simplified Chinese |
| 14. | XM 繁體中文 | China | Traditional Chinese |
| 15. | XM Indonesia | Indonesia | Indonesia |
| 16. | XM 한국인 | South Korean | Korean |
| 17. | XM Melayu | Malaysia | Melayu |
| 18. | XM ภาษาไทย | Thailand | Thai Language |
| 19. | XM Русский | Russia | Russian |
| 20. | XM Việt | Vietnam | Vietnamese |
| 21. | XMاردو | Pakistan | Urdu |
| 22. | XM বাংলা | Bangladesh | Bengali |
| 23. | XM Filipino | Philippines | Filipino |
| Continent 3 – AUSTRALIA | |||
| 24. | XM Australia | Australia | English |
XM offers 4 types of accounts based on currencies to trade through forex. They also provide Negative balance protection for all types of accounts. No fees are charged for any account other than the Shares account.
The Account types provided by XM are,
Table 5 : Various trading accounts available in XM
| Micro Account | Standard Account | XM Ultra Low Account | Shares Account | |
|---|---|---|---|---|
| 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 | EUR, USD, GBP, AUD, ZAR, SGD | USD |
| Max. Leverage | 1:888 | 1:888 | 1:888 | – |
| Negative balance protection | yes | yes | yes | yes |
| Minimum trade volume | 0.1 Lots (MT4) 0.1 Lots (MT5) | 0.01 Lots | Standard Ultra: 0.01 Lots Micro Ultra: 0.1 Lots | 1 Lot |
| Spread on all majors | As Low as 1 Pip | As Low as 1 Pip | As Low as 0.6 Pips | As per the underlying exchange |
| Hedging | Allowed | Allowed | Allowed | N/A |
| Maximum open/pending orders per client | 300 Positions | 300 Positions | 300 Positions | 50 Positions |
| Contract Size | 1 Lot = 1,000 | 1 Lot = 1,000 | Standard Ultra: 1 Lot = 100,000 Micro Ultra: 1 Lot = 1,000 | 1 share |
| Lot restriction per ticket | 100 Lots | 50 Lots | Standard Ultra: 50 Lots Micro Ultra: 100 Lots | Depending on each share |
| Commission | 0 | 0 | 0 | yes |
| Minimum Deposit | $5 | $5 | $5 | $10,000 |
| Islamic Account | Optional | Optional | Optional | Yes |
XM offers Islamic accounts to customers following the Muslim faith. Forex Islamic accounts are also called non-transferable accounts because they do not have overnight transfers or rollover interest, which is against Islamic religious law.
Image 6 : Islamic account in XM
The minimum amount of deposit/withdrawal is $5. XM follows multiple payment methods in all countries. You can deposit money in all types of currency and it will automatically be converted into base currency. The deposit time is instant for Credit card or e-wallet transfers, but not instant for bank wire transfers.
They charge when withdrawing money up to $200. The process is completed on the same day as withdrawal through an e-wallet. When using bank wire or Debit/Credit Card transactions the withdrawal time process takes a maximum of 2 to 5 business days.
You can able to transfer money from one trading account to another trading account. But both accounts must be in your name or the account must be verified. While using internal transfer, if the base currency is different, the currency will be converted into equivalent. It is an instant process.
XM provides three types of bonus options for traders.
A Trading Bonus is available for new clients. They provide a bonus amount of $30 or the equivalent amount of other currencies. This bonus amount is added to your account. You can trade XM products with the bonus amount, but you can’t withdraw it.
(Equivalent to: 30 AUD, 25 EUR, 7000 HUF, 25 CHF, 20 GBP, 3000 JPY, 1000 RUB, 100 PLN, 40 SGD, 347 ZAR)
Deposit Bonus: XM provides a 20% bonus for every deposit from $5 to $25,000. The maximum amount of bonus limit is $5,000 for a $25,000 deposit. This type of bonus amount cannot be withdrawn. After deposit, 20% of the bonus amount is instantly credited to your account.
Refer a Friend – XM offers a referral friend bonus amount up to $35 for every friend referral. It was categorized into three stages.
All of these bonuses are subject to the Terms and Conditions of the XM.
XM serves 24/5 customer support via Email, Live chat, and phone calls. They offer professional and personal advisers in 30+ languages. Most of the questions are answered in the FAQ page.
Contact Number – +501 223-6696
Image 7: Information about XM Customer Support.
XM’s Research and Education Center provides daily updates on all major trading sessions with multiple daily descriptions of all the important market events that shape global markets. The Research and Education section was split into 3 categories, such as Research, Learning Center, and Tools.
Inch by inch, they explain to you how to trade with MT4 and MT5 with tutorial videos. They provide live news about market assets, technical summaries, economic calendars, podcasts, and XM TV in the Research section.
Image 8: Education and research center in XM
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