Established in 2000, MetaQuotes is considered as one of the leading developers of software applications for brokerages, banks, and exchanges. The company’s representative offices are located in many countries around the world. The company has developed a series of popular software products, from a simple FX Charts platform to the MetaTrader multi-asset trading platforms. Deposits and withdrawals through XM Group are easy, fast and convenient. The “Tradepedia” education section has 39 videos which are divided down into seven sections. They introduce the beginner trader to the markets, to fundamental analysis, psychology and money management.
There are also no restrictions related to trading at the time of news releases. You can view all trading conditions for each specific asset by visiting the asset class’s page. There, you will find minimum price fluctuations, starting point for spreads, swap values, average spreads, and value of a lot. There is access to 18 cash indices CFDs and 12 futures indices CFDs. XM also lets clients trade two spot metals instruments, gold and silver. As previously mentioned, most of the account types available on XM are offered as Islamic accounts.
Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC. It monitors the markets 24 hours a day, alerting you to trading opportunities in real time. XM Group is operated with client requirements at the forefront of everything that they do. Along with good customer service, every client can access numerous educational materials through XM Learning Center, fulll of trading data and other necessary information that brings trading to a better level. In this regard, XM went also far and developed truly wide education support throughout various regions with the purpose to educate traders, which is a great plus for all traders.
- This is a great way to keep informed with what is going on around the world and why the markets are moving.
- I like to combine both of them along with price action patterns for a more in-depth insight into what the current market situation is.
- The mobile trading platform has numerous language options, just like the desktop version.
XM has very tight spreads on all accounts, starting from 0.0 pips on the zero account and 0.6 on standard accounts, which can vary in market peak hours. You do not pay an additional xm group review commission on the standard account is it is already accounted for within the spread. As mentioned above, there is a competitive $7 commission fee in the XM zero account.
The Intermediate Education Room is open to those with a validated XM account. This room helps with the development of strategies needed to hone strategic thinking. It also includes education about various analysis tools, like Bollinger Bands and the Avramis Ribbon. They include coverage of all topics with real-time guidance and up-to-date information.
Is XM Broker regulated?
We may be compensated but this should not be seen as an endorsement or recommendation by TradingBrokers.com, nor shall it bias our broker reviews. XM Group estimate the account opening process to take an impressive 2 minutes to complete. You simply fill out the brief online registration form, verify your email and upload your identification.
All content on ForexBrokers.com is handwritten by a writer, fact-checked by a member of our research team, and edited and published by an editor. Generative AI tools are not a part of our content creation or product testing processes. Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. If you already have an XM account, please state your account ID so that our support team can provide you with the best service possible.
Spreads & Commission
This is the final main account that you can open with XM and is a zero spread account. Traders can keep their costs down by trading with spreads that “can be as low as 0 pips” (although not always this low). For this privilege, traders will have to pay a commission of $3.5 (both in and out) for every 1 Lot traded.
XM Research
Let’s start with the slight negatives, XM Group only offers MT and MT5 as a MetaTrader broker, they do not have their own platform and the pricing is average, with not particularly tight spreads. XM provides a wealth of research across different mediums and asset classes and is a front runner in the market for research offerings. For the XM Zero account the typical spread for EUR/USD is a low 0.1 pip, but there is a commission which amounts to $7 per round trade on a currency lot.
However, the lack of any cryptocurrencies to trade is a disappointment and as if often the case with many brokers, there are no bond markets or ETFS on offer. While the broker keeps its trading cost competitive, it neither charges any fee on deposits and withdrawals nor applies any inactivity or account administration fee. The XM research and education section offers a very detailed library of educational materials for traders. These include market reviews, stock market news, forex news, investment-themed articles, technical analysis, videos, and a learning center where webinars, seminars, and video tutorials are presented. XM offers clients access to trading forex and CFDs on stocks, energy commodities, soft commodities, precious metals, and indices.
The main branch located in Cyprus regulated by CySEC, yet offices are truly cover global needs and serve through Australia, UK, Belize, Greece also authorized in Dubai and MENA region. Read our full explanation and accounting of our research and testing process to learn more about how we test. We use dedicated people and clever technology to safeguard our platform.
Account Opening
However, certain brokers like FP Markets and GO Markets are slightly more competitive when it comes to commission costs. The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. When it comes to client money safety, XM adheres to the strictest requirements.
How long does XM Withdrawal take?
Note that they charge dormant account fees of US$5 after only 90 days of inactivity. XM provides great customer support response times and the spreads on most instruments are aligned with industry averages. Overall, XM Group is clearly one of the best forex brokers in my view, primarily due to the strict regulation from multiple regulative bodies, the deep amount of liquidity pools and huge global presence. They have thousands of financial instruments to trade on user-friendly platforms with some of the best trading conditions you will find anywhere.
Clients are likely to incur some trading fees and commissions at XM. Client funds are also protected through multiple compensation schemes, such as CySEC’s Investor Compensation Scheme. These programs compensate account holders in the event of a brokerage firm’s financial collapse or its inability to make customers whole on their account balances. The download is quick, provided you have a decent internet connection. Once traders agree to some standard disclosures they can click the MT4 or MT5 icon on their desktop and be on the platform in seconds.
What Assets Can You Trade With XM?
Some brokers will charge for additional withdrawals in a month, regardless of the method. The fact that XM does not charge for withdrawals helps to keep costs down for the trader. For traders outside Europe and under the XM Global entity, there are bonuses available. Given the demo account has an unlimited duration, this is one way of persuading traders onto the live platform. The Standard and Micro accounts have a minimum deposit of just $5 (or equivalent denomination) to start trading.
Traders can reach out to representatives in several departments throughout the globe by email or phone. I think they could improve by offering support on weekend like competitors such as FP Markets do. Our clients can choose to trade forex and CFDs on cryptocurrencies, stock indices, commodities, stocks, metals and energies, from the same trading account.