XM Review 2023

Uncovering one of the leading Forex brokers XM, which is well known across the globe. With XM trade up to (over 55+ pairs, 940+ CFDs) as well as take maximum advantages from all the exciting features. Catch the complete XM review now.


Regulated by CySEC, IFSC, FCA, ASIC, DFSA

Overall Rating 4.8
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XM which is specifically known for being a parent company of Trading Point Holding was fabricated back in 2009 and since then it's been operating globally as a Forex and CFD brokerage company. 

And as for XM global, it was founded later than expected making its way in between late 2017 which is regulated by IFSC (International Financial Services Commission) under the license number of (000261/106). 

Later on, the brokerage also got regulated with 3 other regulatory bodies (ASIC and CySEC) making it one of the most secure brokerages operating at the current time.

Moving on, XM global contains more than 1.5 million traders across 196 countries. Besides being fair is the main ethic of XM and that's the primary reason, the broker gets praised by numerous retail market traders

Broker Details

  • Minimum Trade Size: 0.01
  • Maximum Leverage: 888:1
  • Minimum to Open Live: $5
  • Established: 2009
  • Address: 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus
  • Contact: support@xm.com, +357 25029933
  • Regional offices: Australia, Belize
  • Prohibited countries: Aland Islands, American Samoa, Belize, Canada, Caribbean Netharlands, Cuba, French Southern Territories, Guam, Guernsey, Heard Islands & Mcdonald Islands, Iran, Isle Of Man, Israel, Japan, Jersey, Kosovo, Liberia, Myanmar, New Zealand, North Korea.
  • Trading platforms: MT4, MT5
  • Web Trading: Yes
  • Mobile Trading: Yes
  • Currencies: (55+)
  • Cryptocurrencies:
  • CFD: (940+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
  • EAs/Robots: Yes
  • News Spike Trading: Yes
  • Scalping: Yes
  • MAM: No
  • PAMM: No
  • ZuluTrade: No
  • Deposit Methods:

    Bank Wire, VISA, MasterCard, Neteller, Skrill

  • Withdrawal Methods:

    Bank Wire, VISA, MasterCard, Neteller, Skrill

Trading Conditions

XM offers 5 types of trading accounts to the retail market traders which go as follows: Micro, Standard, XM zero, XM ultra-low finally it's the XM share accounts. Let's get a brief overview on this:

First of all, the Micro accounts are more of a GO-TO platform for the new traders as it requires a deposit amount of only $5. Don't let that amount distract you from anything because you'll be able to trade on all the base currencies including AUD, USD, GBP, CHF, JPY, EUR, PLN, and HUF.

Note: Just so you know, 1 micro lot = 1,000 units of the base currency.

In the same way, Standard accounts also offer all the base currencies similar to micro accounts and the deposit amount is also $5. The only difference is in the standard accounts, 1 standard lot = 100,000 units of the base currency.

Moving on, the Zero accounts require a minimum deposit amount of $10 and the base currencies are USD, EUR, and JPY. The standard lot of zero accounts are also similar to standard accounts.

And in the Ultra-low accounts, the minimum required amount is $50 where USD, EUR, AUD, GBP, SGD, ZAR are the base currencies. The standard lot is also similar to standard accounts

Note: XM ultra-low accounts are only available to certain trading groups.

That's not even all!

XM also offers share trading accounts along with swap-free trading accounts. The share accounts require a minimum deposit amount of $10,000 and the standard lot is similar to micro-accounts. But the share accounts only allow you to trade on USD as a base currency. 

As per the trading leverage, well it can vary from 2:1 to 30:1 pretty quickly which obviously depends on the trading instrument and the average spread is 0.1 pips on EUR/USD. Apart from this, XM offers a market execution process rather than instant execution


XM renders an ultra-wide range of trading instruments to its users as they are committed that way to providing all the possible trading assets to the retail market traders. And in order to execute that initiative properly, they are giving access to:

Forex: More than 57 currency pairs including the exotic ones.

Metals: Availability of precious metals including gold and silver.

Energies: You'll be able to trade on energies like Brent crude oil, GSOIL, NGAS, OILMn.

Commodities: You'll be eligible to trade on 15 commodity stocks.

Stocks: You'll be able to experience up to 28 major company shares along with 1240 stock CFDs.

Indices: You'll be able to trade on a wide range of indexes including the HUGELY popular ones.

Note: Due to diverse legal statics FBS doesn't allow any traders to trade on cryptocurrencies especially BTC.


XM is one of the most regulated broker industries that has ever come across retail market traders. Out of all people, we all know that having a tight regulation defines a broker even BETTER as it showcases a symbol of trust between the brokerage and traders.

Moving on, XM is regulated with three regulatory bodies including:

  • The IFSC (International Financial Services Commission)
  • The CySEC (Cyprus Securities and Exchange Commission)
  • The ASIC (Australian Securities and Investments Commission)

Therefore, if you're intending to trade with XM then go ahead and do so without worrying about any sorts of security issues. 

Trust us, It'll be worth it


Being the regulated and ultra-low spread broker as it is, XM provides 2 types of trading platforms for retail market traders.

The trading platforms category includes,

  • MetaTrader 4 ( Which has won numerous awards over the years.)
  • MetaTrader 5 ( Which is known for providing multi-asset advantage.)

Now, let's break it down a bit... 

The MT4 trading platform provided by XM is often considered a classic trading platform that is not only persuasive but also is packed with useful features. Specifically, the features are:

Source: Forexbrokers.com

On the other hand, MT5 is more like a tech-based and evolved trading platform that renders multiple trading assets at a time which obviously includes stocks, indices, and precious metals. 

You'll also be getting features like multiple trading indicators, depth market views, diverse trading charts, and multiple time frames

Mobile Trading

When it comes to trading platforms, XM only prefers the MetaTrader platforms over all the trading platforms.

And by MetaTrader platforms we mean the MT4 and MT5 trading platforms. Which is for a fact also available for mobile devices including both android and ios versions. 

It gets EVEN better!

The installation process is also quite easy and hassle-free compared to all the other mobile trading platforms provided by all the other brokers.

Just go to the play store or App store and search for it. After that, the next process is completely automatic.

See, it isn't that hard, is it?

Apart from all this, XM offers several features on its mobile trading platform. Which includes:


Source: Forexbrokers

Bonus & Promotion

Like all the regulated brokers who don't hesitate to provide any sorts of trading bonuses, XM also renders wholesome trading bonuses.

The bonuses kinda look like this:

Source: XM.com

$30 No deposit bonus: No deposit bonus is a one-time thing that a brokerage provides to its clients while registering an account with them. As for XM, they proffer a welcome bonus of $30 if you open an account with them.  

Along with that, XM also offers a loyalty bonus along with a referral trading bonus which is also applicable to all retail market traders.

But keep in mind that standard conditions may involve while applying for the trading bonuses

Deposits & Withdrawals

XM is relevant with diverse transaction methods including Debit-Credit cards, Wire transfer, Local bank transfer and electronic payment methods.Besides,  you can use all these transaction methods stated above for both making a deposit or a withdrawal from XM broker.

Moving on, XM requires a minimum deposit amount of $5 for micro and standard accounts and $100 for the zero spread accounts.

And while withdrawing your money from XM, the process can sometimes get real cranky as it takes more than 2 days to process. Besides that, a certain fee is also needed while undergoing a withdrawal process. Specifically, for bank wire transactions $15 is required

Customer Support

Hands down, reliable customer support is probably a must-have feature for a brokerage company in order to stay at the top of the race. As a result, XM also fabricated a 24/7 superactive customer support protocol.

Which can be accessed via a live chat system along with phone and email communication. And that's not all, their customer support comes with multi-language support also.

Here's the contact info, in case you might need to contact them:

Research & Education

Forex education materials are a great way to find your way through this unstable and volatile trading industry.

As it can help you to stay up to date with a lot of things. Respecting the significance of educational materials, XM is committed to providing an effective and diverse learning center.

Where you'll find out numerous webinars, blog posts, analysis, trading tips, guide books, video tutorials, and whatnot! It is well organized and also made in using a user-friendly perspective.

So, the beginners could get a hold of everything that's been going on!

That's not all, for exclusive research purposes, you'll be given access to Forex calculators along with economic calendars


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frequently asked questions

Leverage is the multiplication of your balance. This allows you to open bigger trading positions since the margin required will be lowered according to the leverage you have chosen. Even though with leverage you can make a bigger profit, there is also a risk of having a bigger loss because the positions you open will be of higher volume (lot size).


Account balance: 100 USD

Account leverage: 1:100

For your trading capital this means 100 * 100 USD = 10,000 USD to trade (instead of 100 USD).

The swap formula for all forex instruments, including gold and silver, is the following:

lots * long or short positions * point size

Here is an example for EUR/USD:

Client base currency is USD
1 lot buy EUR/USD
Long = -3.68
Because it is a buy position, the system will take the swap rate for a long position, which currently is -3.68
Point size = contract size of a symbol * minimum price fluctuation
EUR/USD point size = 100 000 * 0.00001 = 1
If we apply for the given numbers in the formula, it will be 1 * (-3.68) * 1 = -3.68 USD.
So for 1 lot buy EUR/USD, if the position is left overnight, the swap calculation for the client will be -3.68 USD.

Here is an example for gold:

Client base currency is USD
1 lot buy gold
Long = -2.17
Because it is a buy position, the system will take the long points, which currently is -2.17.
Point size = contract size of a symbol * minimum price fluctuation
Gold point size = 100 * 0.01 = 1
If we apply the given numbers in the formula, it will be 1 * (-2.17) * 1 = -2.17 USD.
So for 1 lot buy gold, if the position is left overnight, the swap calculation for the client will be -2.17 USD.

Please note that if the base currency of the trading account is in EUR (like in the examples above), the swap calculation will be converted from USD to EUR. The result of the swap calculation is always the secondary currency in a symbol, and the system converts it to the base currency of the trading account.

The examples above only serve as a guide and do not reflect the current charges. Please view the current swap charges for forex instruments here and for gold and silver here.

It is $5 for MICRO and STANDARD accounts, $50 for ULTRA LOW accounts, while for SHARES accounts it is $10,000

In case you fill out all details correctly, it takes less than 5 minutes.

Margin is the required amount in the base currency of the trading account needed to open or maintain a position. When trading forex, the Required/Used Margin for a specific position = Number of Lots * Contract size / Leverage. Here the result is originally calculated in the first currency of the traded pair and then converted into the base currency of your trading account, which will be numerically displayed on your MT4, or any other trading platform.

The margin requirement for gold land silver is calculated like this: Lots * Contract Size * Market Price / Leverage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD).

For CFDs, the required margin is Lots * Contract Size * Opening Price * Margin Percentage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD). More details can be seen here.

Margin level is calculated with the formula Equity/Margin * 100%.

Free margin is your equity minus margin. It means the available funds that you use for opening new positions, or for maintaining existing positions.

It is simple and quick. Click Open a Real Account, fill in the form and upon completion, you will receive an email with your login details that you can use to log in to our secure Members Area. Here you will be able to fund your trading account by clicking the Deposits tab in the main menu. If you are already an XM Real Account holder you can open an additional account in the Members Area.

The margin calculation formula for forex instruments is the following:

(Lots * contract size / leverage) where the result is always in the primary currency of the symbol.

For STANDARD accounts all forex instruments have a contract size of 100 000 units. For MICRO accounts all forex instruments have a contract size of 1 000 units.

For instance, if the base currency for your trading account is USD, your leverage is 1:500 and you are trading 1 lot EURUSD, the margin will be calculated like this:

(1 * 100 000/500) = 200 Euros

Euro is the primary currency of the symbol EURUSD, and because your account is USD, the system automatically converts the 200 EUROS to USD at the actual rate.

If you have already opened a trading account, received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice.

You can find detailed guidance on XM trading platforms here.

All review here

Sort By:

Eugene D. Grinder

Toronto , Canada 2022-05-18 15:11:51


  • Service use : Live
  • Length of use: More Than 1 Year

Trading with Forex and CFDs XM is a reliable and trustworthy broker. Several leading financial regulators, including the FCA, ASIC, and CYSEC, regulate and license it. XM offers low-risk trading, which is why I use it.

Richard S. Schroeder

Nemcice nad Hanou , Czech Republic 2022-04-22 13:50:45

Excellent Forex broker

  • Service use : Live
  • Length of use: 3-6 Months

XM is an excellent Forex broker. This broker is reliable. Withdrawals are always quick and easy. However, it should be updated. Hopefully, they will update it soon to provide the most recent version.

Travis S. Andrews

Fort St John , Canada 2022-04-19 13:04:28

User-friendly and lowest deposits

  • Service use : Live
  • Length of use: 6-12 Months

XM broker has a great reputation in the trade market. The offering is user-friendly and one of the lowest deposits in the industry. CFD cost is low. It's another good thing about this platform.

Beau J. Rau

Raglan Street , Australia 2022-04-17 08:31:31

Incredible service provider

  • Service use : Live
  • Length of use: 6-12 Months

Among all brokers, XM Trading is a very popular broker. Its service is so optimal. Creating an account and processing is quite easy. The management team replied in time. Thanks, XM team for this incredible service.

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