XM Broker Review – An In-Depth Analysis of This Firm

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By Anthony Gallagher

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Xm Broker Review

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XM Broker Review

  • Commissions & Fees
  • Investment Offerings
  • Trading Platforms
  • Customer Service
  • Education and Research
  • Trustworthiness


Within the forex industry a good broker is a big deal. XM has become an integral player in the forex market with competitive pricing, load of features, and more. Read our in-depth review to learn more about the broker, XM.


  • Very competitive commissions, fees, and minimum deposits when compared with other brokers of a similar stature.
  • Impressive range of markets, including more than 1,000 stock CFDs. This presents trading options for even the most selective of investors.
  • Well-structured and professionally produced educational content and research availability make XM a very accessible broker with a long-term vision and development opportunities which are very welcome to almost all traders.


  • No proprietary trading platform.
  • Customer service can take a longer time for those who have not already registered an account with the broker.

About XM Broker

Founded in 2009, XM has become a key player within the forex industry in its decade long history. The broker has grown to offer a substantial range of markets, numbering over 400 in CFDs and forex pairs.

They are now widely regulated in a number of highly respected jurisdictions. These include the UK, EU, Australia, and in the emerging financial hub of Belize. They now possess over 1.5m clients in 196 nations worldwide, having fast become a top broker of choice for many experienced and novice traders alike.

Xm Landing Page

XM Account Opening

Xm Account Types

XM offers three distinct account types to trader’s .These are, Micro Account, Standard Account, and XM Ultra Low Account. Each account is available in a range of base currencies to suit the needs of traders. The major difference to be noted here is the spread on major currencies. This starts from 1 pip with both the Micro and Standard account options, but drops to as low as 0.6 pips with the Ultra Low Account.

Minimum Deposit

The minimum deposit requirement is highly competitive throughout the range of account offerings. The minimum deposit stands at just $5 for opening a micro, or standard account, and increases to $50 for those seeking to open an XM ultra low account.

Availability and Ease of Opening

XM offers accounts to some of the widest tanging audiences in the forex industry. This is assisted by their worldwide presence, regulation under a number of financial bodies, and service in multiple languages. Of the nations where service is unavailable, the United States, Canada, Israel, and Iran, stand out as prominent.

Where accounts are available, they are very easy to get started. Opening an XM demo account can be completed by entering just a few simple details. For those wishing to open an XM live account, the process can be completed with similar ease. In fact, many traders can qualify for a no deposit required bonus of up to $30. This is one of several promotions offered by XM to many of their traders.

Product Offerings

Xm Promotions

XM has one of the widest ranges of product offerings in the sector. This is proudly displayed by the broker on their homepage which promotes they offer more than 1000 trading instruments. Much of this is made up of stock CFDs of which the broker offers more than 1,100.

They offer a total of 57 forex currency pairs. This includes major, minor, and exotic pairings. CFD markets are also available in commodities, indices, metals, energies, a five major cryptocurrency pairings with the US Dollar.

This is indeed a very broad offering, with some form of market available to suit the needs of every trader.

XM Commissions and Fees

XM offer commission-free trading to all of their account holders. The fees are already incorporated with the competitive spread the broker offers. These spreads start as low as 0.6 pips depending on your account type. The average spread when trading major currency pairs through XM is 1.5-1.7 pips.

Non-trading Fees

When it comes to non-trading fees, the broker is also quite competitive. There are no deposit or withdrawal fees on XM aside from the fees levied by your financial institution. The broker does charge variable rollover rates, more details on which are available here. Swap-free accounts are also available for Islamic customers after contact with XM customer support.

XM Platforms and Tools

Xm Mt4 Desktop Chart

XM is a Metatrader only broker. This means they offer both MT4 and MT5 in their various forms encompassing desktop, webtraders, or mobile trading platforms.

Desktop Platform

Both MT4 and MT5 platforms area available on desktop through XM. These third-party platforms are highly-regarded in the industry, and as such, vary little in terms of layout and functionality from broker to broker.

The desktop platforms, while being very functional form an image standpoint, do incorporate all of the latest news, positions, and economic calendar along the bottom taskbar. All the while, the central windows are occupied by your chosen chart. This can be selected from the left-side taskbar where a search function and indicative MarketWatch chart are available, displaying the most popular markets.

A major selling-point of MT4 is the fact there are so many professional tools and indicators available. These are more than any other platform in the industry, and charts can be easily and completely customized.

More advanced trading features such as Metatrader EA which helps to automate the most effective and customized trading strategies, are also available.

The webtrading counterpart of both platforms, while being more visually appealing, and slightly more accessible due to its in-browser location, provide much of the same rugged effectiveness and convenient ordering which has made the platform popular with so many through years in the industry.

Mobile Trading Platform

Xm Mt4 Mobile Order  

Xm Mt4 Mobile Chart Watch

The widely used mobile trading platforms of Metatrader are again implemented by XM. These are once again basic in appearance, but extremely easy to access, with one application covering every broker who utilizes the platform. Accounts can be switched on the settings menu within seconds.

These mobile platforms again stand out for their technical charting capabilities which is well-beyond many other platforms in the industry. The platform also incorporates a high-degree of flexibility to customize the trading experience, and the fundamentals are easy for novice and experienced traders alike to deal with.  

Education and Research

Xm Seminars

Much of the research carried out through XM which is made available to traders is carried out by its own in-house team. This includes regular market reposts, analysis, and video reporting of both fundamental and technical market issues. Blog style news and research articles are also provided by a number of XM broker analysts.

In terms of educational infrastructure, XM is strong. They offer a range of professionally produced video content and webinars through their learning center hub. These chart all the necessary skills and requirements, guiding new traders into the sector. For more advanced traders, there are also a wide range of live seminars conducted periodically by industry experts and scheduled through XM.  These take place worldwide, and in a variety of languages which exemplifies the reach of XM as a global broker.

XM Differentiators

A primary differentiating factor with XM is the wide-range of markets it provides to its traders. This provide ample choice for every level and style of investor who wishes to engage in trader through the broker. The very low minimum deposit requirements for every account type is also something which is bound to be attractive, particularly to new traders. This is something which was recently implemented by the broker which show their willingness to adapt to the needs of the industry and make their offerings accessible to all.

Finally, the fact that XM is regulated around the world is a positive differentiator from many brokers. This undoubtedly provides an increased sense of transparency within their operations.

Customer Service

XM customer support is available in three primary forms on a 24/5 basis during market hours. These forms are telephone, email, and web-based live chat. When tested, all methods were fully responsive and quick to answer questions in a relevant and helpful manner.

The XM broker website also provides an extensive selection of FAQs to answer fundamental queries without the trader requiring to engage with the customer service team. It should be noted that customer service is also available in as many as 30 languages. They were recently awarded the title of Best Forex Customer Service, at the 2018 UK Forex Awards.

XM Trustworthiness

Having been active in the industry for more than a decade, and amassed a global base of traders, it is fair to say XM is representative of a highly trustworthy forex broker. They are among the few that have pursued global regulation from many of the most respected bodies in world finance, as well as in Belize.

These factors, together with the variety of industry accolades they have collected and how the company has been progressively shaped throughout their years in the industry to cater for the most efficient and effective customer service, place them at the pinnacle of the industry when it comes to trustworthiness.


Having conducted many top broker reviews, it is clear to note the offerings of XM are widespread. From their regulation in various respected jurisdictions, to the widespread catalogue of trading products available, it is clear to see how the broker established a positive reputation throughout the industry and become a major broker within a relatively short period of time.

Undoubtedly, XM are in a very positive position in the sector, and providing excellent service to all levels of trader across the board. As this continues, so too will the strong position and growth of XM as an industry leader.

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Anthony Gallagher

Anthony Gallagher is a financial journalist and forex expert with years of experience in the industry. Anthony's writing is informed by personal trading experience, which he uses to help other forex traders improve their results. Anthony has tested dozens of forex trading tools and written hundreds of articles for many well-known sites in the industry. He is recognized for his insightful analyses of global markets and data-driven trade ideas.