According to XM traders, it is pretty easy to create an account, and it hardly takes 20 minutes. In addition, your account will be verified on the same day with the required documentation. Moreover, you can choose between 20 other languages except for English. The process of account opening on XM is as follows:. XM offers various assets that can be traded on its platform.

Here is a list of all the available assets:. In addition to those assets, crypto trading is not available on XM under the EU-regulated group entity. The only downside is that their phone support is only available on weekdays. Their answers are quick, and relevancy is also OK. Below are a few of the advantages and disadvantages of XM customer support according to its user reviews:.

As mentioned earlier, XM Broker is licensed by three leading international regulatory bodies: ASIC Australia , FCS Belize , and CySEC Cyprus. The CySEC license, in particular, means that the broker falls under the European legal framework regulated by MiFID I and II.

All customer accounts are held with segregated European banks, meaning they are kept separate from brokerage operating accounts. XM offers a variety of withdrawal options to its clients.

In addition, you can find out how to restock and withdraw money from your Personal Account. XM will begin processing your payment request within 24 hours, and you can anticipate receiving your withdrawal within five business days.

You can easily withdraw your money without limit to the number of requests. The broker automatically converts it to market value. XM is a great broker for those looking for various account types with low spreads. On the other hand, AvaTrade is best for those who want a broker that offers multiple platforms and instruments. Both brokers are well-regulated and offer negative balance protection.

When it comes to customer support and investor protection, both companies are on par with each other. Out of the one hundred variables we tested, analyzed, and researched, AvaTrade is our top pick for the best MetaTrader broker. XM is the better choice for those looking for a broker with multiple account types and low spreads. Roboforex is best for traders who want an ECN account-compatible broker that offers the cTrader platform. Both brokers offer negative balance protection and are well-regulated.

According to customer reviews, XM is comparatively better regarding customer service and order execution. XM also has a wider range of deposit and withdrawal options. Overall, XM is the better choice for online forex trading.

Alpari has been a reliable forex broker for over 20 years, providing tightly fixed and variable spreads and speedy order execution. Alpari offers three account types: Standard, ECN, and Pro. On the other hand, XM is a great choice for beginner and intermediate traders as it is user-friendly and has a wide range of educational content.

Moreover, it is a regulated broker with a strong presence in several countries. Moreover, they offer customer support in more than 20 different languages.

XM is the better choice for those looking for a regulated broker with multiple account types and low spreads. Alpari is best for traders who want a reliable and well-established broker. So, overall, XM is the better choice for online forex trading. When it comes to customer reviews, Alpari is a better choice as it has been around for longer and is a more established broker.

However, XM is the better choice for those looking for a regulated broker with multiple account types and low spreads. XM is a great forex broker with a solid reputation, high-quality trade execution, and a wide range of tradable assets. The broker is also very well-regulated by some of the most respected financial authorities in the world.

Our experts liked the low fees for stock CFDs and withdrawals. Opening an account is easy and free of trouble, and the broker offers a broad range of high-quality educational tools. It only offers forex and CFDs, so the product range is limited. In addition, its fees for forex and stock index CFDs are mediocre, and non-EU customers have no investor protections. You can register for a demo account to test it out. Overall, we believe XM is a great choice for experienced and beginner forex traders.

Yes, XM is safe and legit. The broker is licensed by three leading international regulatory bodies: ASIC Australia , FCS Belize , and CySEC Cyprus. Therefore, it is secure and regulated. Many traders have found success with XM. However, it is important to remember that trading on the financial markets will not make you rich overnight. If you take the time to educate yourself about trading, practice with a demo account, and carefully plan your trades, you will increase your chances of success.

You should never trade with money that you cannot afford to lose. CFDs are complex instruments and can be risky; Before investing in a CFD, make sure you understand how it works and whether or not you can afford to risk losing your money.

Our experts concluded that XM is a reliable broker with trading conditions appropriate for various types of traders, quick and excellent service, and beginner-friendly educational content — all while having some of the lowest deposit requirements in the industry.

In addition, it is regulated by top-tier financial authorities, providing an additional level of protection for its clients. However, this means XM falls under regulation from a jurisdiction that can hold the broker responsible for its actions; or, at best, play an arbitration role in case of bigger disputes. He is a recognized expert in the forex industry where he is frequently invited to speak at major forex events and trading panels.

His insights into the live market are highly sought after by retail traders. Ezekiel is considered as one of the top forex traders around who actually care about giving back to the community. He makes six figures a trade in his own trading and behind the scenes, Ezekiel trains the traders who work in banks, fund management companies and prop trading firms. We have generated over millions of dollars via trading with the 5 part system outlined in this free training.

Download it now before this page comes down or when I decide to stop mentoring. XM Review — Expert Trader Insights. Position in Rating. Overall Rating. Trading Terminals. OPEN AN ACCOUNT. START TRADING WITH XM. LEARN MORE ABOUT XM. OPEN YOUR ACCOUNT NOW. OPEN A REAL ACCOUNT. SIGN UP WITH XM. OPEN AN ACCOUNT WITH XM HERE. Related articles AvaTrade Review — Expert Trader Insights.

Things To Know About ProsperityFX. FXTM Review — Expert Trader Insights. Read about Trust Score here. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.

Was this helpful? Yes or No. Steven Hatzakis is the Global Director of Research for ForexBrokers. Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.

as a Commodity Trading Advisor CTA. John Bringans is the Senior Editor of ForexBrokers. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time.

He heads research for all U. com and is respected by executives as the leading expert covering the online broker industry. com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Reviews. October 13, Autochartist and Trading Central complement in-house research offering. Excellent research content that includes daily videos, podcasts, and organized articles. In-house broadcasting features TV-quality video content, and live recordings.

XM is an online broker whose parent company is Trading Point Holding, a global CFD and FX broker founded in XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission CySEC , the Australian Securities and Investments Commission ASIC and the Financial Services Commission of Belize FSC. Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. You can open an account at XM if you live in Colombia. See the best alternative available in your country. XM has low stock CFD and withdrawal fees. Account opening is user-friendly and fast. You can use many educational tools, such as webinars and a demo account. On the other hand, XM has a limited product portfolio as it offers mainly CFDs and forex trading.

Its forex and stock index CFD fees are average, and there is no investor protection for clients onboarded outside the EU. Please select your country. We ranked XM's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees. In the sections below, you will find the most relevant fees of XM for each asset class.

For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates. We also compared XM's fees with those of two similar brokers we selected, FxPro and Admirals Admiral Markets.

This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of XM alternatives.

XM trading fees are average. XM has many account types , which all differ in pricing. The Standard, Micro, and Ultra Low accounts charge higher spreads but there is no commission. The XM Zero account charges lower spreads, but there is a commission. The following calculations were made using the Standard account. We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable?

We compared brokers by calculating all the fees of a typical trade for selected products. A typical trade means buying a leveraged position, holding it for one week and then selling. The leverage we used was:.

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for XM fees. Clients onboarded under IFSC can also trade real stocks using the Shares Account. The commissions are volume-tiered with a minimum fee. XM has average non-trading fees. Visit broker XM accepts customers from all over the world. There are a few exceptions though; among others, you can't open an account from the USA, Canada, China, Japan, New Zealand or Israel.

XM offers many account types , which differ in pricing, base currencies, minimum deposit and contract size. Islamic or swap-free accounts are also available. With Islamic accounts, a flat commission is charged if you hold your leveraged position overnight instead of the percentage-based financing rates. XM doesn't offer corporate accounts. If you sign up for a non-European entity, you will not be eligible for European client protection measures.

XM account opening is fully digital, fast and straightforward. You can fill out the online application form in 20 minutes. Our account was verified on the same day. To open an account at XM, you have to go through these steps:.

At XM, you can choose from 9 base currencies. The available base currencies are:. Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.

These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone. Compare digital banks. XM charges no deposit fees. Clients onboarded under IFSC can also deposit using the SticPay electronic wallet.

XM charges no withdrawal fees. This means that you can only withdraw your trading profits via bank transfer. How long does it take to withdraw money from XM? We tested debit card withdrawal and it took 2 business days.

XM does not have its own trading platform; instead, it uses third-party platforms: MetaTrader 4 and MetaTrader 5. These platforms are very similar to each other in functionality and design. One major difference is that you can't trade stock CFDs on MetaTrader 4, only on MetaTrader 5. The XM web trading platform has great customizability. It is easy to change the size and the position of the tabs.

However, the platform feels outdated and some features are hard to find. For example, it took us a while to figure out how to add an asset to the watchlist. XM requires two-step authentication for the account login on the website where you can deposit and withdraw. The trading platform itself, however, doesn't have two-step authentication. The search functions are OK. You can find assets grouped into various categories. However, we missed the usual search function where you can type in the name of an asset manually.

You can use all the basic order types. However, you won't find more sophisticated order types such as 'one-cancels-the-other'. The following order types are available:. To get a better understanding of these terms, read this overview of order types. You cannot set alerts and notifications on the XM web trading platform. This feature is available only on the desktop trading platform.

XM has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the 'History' tab.

We couldn't find a way to download them. XM offers MetaTrader 4 and MetaTrader 5 mobile trading platforms. Similarly to the web trading platform, we tested the MetaTrader 4 platform on Android. Once you have downloaded the MT4 mobile trading platform, you should access the relevant XM server. Just like on the web trading platform, you can choose from many languages on the mobile trading platform as well.

Changing the language is a bit tricky on Android devices, as you can do it only if you switch the default language of your mobile. XM has a great mobile trading platform , we really liked its design and user-friendliness.

It is easy to find all the features it provides. XM requires only one-step login for the platform, but provides two-step account login to access deposit and withdrawal functions. A two-step login procedure for the trading platform would be safer.

You can't use fingerprint or Face ID authentication. Offering this feature would be more convenient. The search functions are good. You can search by typing the name of the product or by navigating the category folders.

You can use the same order types and order time limits as on the web trading platform. You can set alerts and notifications for your mobile , although only through the desktop trading platform.

Necessary cookies are absolutely essential for the website to function properly. Caters less well for experienced traders. All of this is a clear example that the navigation through the page is very easy. Like the Standard account, one standard lot equals , units of the chosen base currency. Many supply and demand factors also affect energy prices, the strongest of which is global economic growth.

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