XM a prominent global broker, was founded in 2009. It has since grown significantly, serving over 10 million clients worldwide. Regulated by reputable authorities like the Cyprus Securities and Exchange Commission (CySEC), the International Financial Services Commission (IFSC), and the Australian Securities and Investments Commission (ASIC), XM prioritizes client security and transparency. Operating in multiple countries and offering multilingual support, XM caters to a diverse clientele. Their product range includes Forex, CFDs on stocks, indices, commodities, and cryptocurrencies, providing traders with ample opportunities across various asset classes.
XM offers a comprehensive education center designed to empower traders of all levels. Their educational resources include a vast library of video tutorials covering fundamental and advanced trading concepts, from forex basics to technical analysis and risk management strategies. Additionally, XM provides daily market analysis and webinars conducted by experienced analysts, offering insights into current market trends and potential trading opportunities.
| Founded | 2009 |
| Registered | Cyprus |
| Regulation | CySEC, DFSA, FSC (Belize) |
| Market instruments | 1,400+, forex, commodities, precious metals, shares, Turbo stocks, equity indices, energies, thematic indices |
| Demo Account | ✅(30 days) |
| Account Type | Standard, Ultra Low, Shares |
| Min Deposit | $5 |
| Max leverage | 1:1000 |
| Spread | From 0.8 pips |
| Trading Platform | MT4/5, XM App |
| Copy Trading | ✅ |
| Payment Methods | Credit/debit cards, bank transfers, e-wallets(May vary depending on the country of registration) |
| Customer Support | Emails, Live Chats, Telegram, and Telephone
Tel:+357 25029933 |
| Regional Restrictions | The United States of America, Canada, Argentina, Israel and the Islamic Republic of Iran |
| Bonus | 20% deposit bonus up to $2,000（No bonus offered under the entity regulated by CySEC in Europe） |
Is XM Legit?
Regulation is a key dimension to consider when choosing a forex broker, as it offers some protection to the client in terms of security of funds, transparency and fairness of operations. XM is a Belize-registered company and regulated by several major regulatory bodies, including CySEC, DFSA, and FSC (Belize).
Market Instruments
XM offers its traders a wide variety of over 1,400 financial instruments, including forex, commodities, precious metals, shares, Turbo stocks, equity indices, energies, and ematic indices. This variety allows traders to diversify their portfolios and take advantage of different markets to implement different trading strategies.
| Asset Class | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Precious metals | ✔ |
| Shares | ✔ |
| Turbo stocks | ✔ |
| Equity indices | ✔ |
| Energies | ✔ |
| Thematic indices | ✔ |
| Cryptocurrencies | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Trading Accounts
XM offers four types of trading accounts targeting different investment levels. The Standard and Ultra Low accounts have only $5 minimum deposit and no commissions are charged. The Shares account has a minimum deposit of $10,000 and a commission is charged. No leverage is offered on the Shares account, which means investors must invest the full amount of their trade. In general, XM offers account options for different investment levels.
Leverage
Leverage is an important tool in Forex trading that allows traders to have greater exposure to the market with limited capital. At XM, the maximum leverage offered is 1:1000, which means that for every $1 of capital, the trader can control up to $1000 in the market. This can be attractive to traders looking to maximize their profits with less capital.
Spreads and Commissions
In terms of spreads and commissions, XM offers low spreads on the first two commission-free accounts. However, during periods of high volatility, spreads may be higher.
Trading Platform
XM offers its clients a flexible selection of trading platforms, including the popular MT4 platform and its successor, MT5.In addition, the company has also developed its own custom trading platform – XM App for those looking for something different.
All platforms offer a wide variety of technical indicators, analysis tools and customization possibilities. Beginners may also find the MT4 and MT5 learning curve steep, although the customization possibilities and variety of analysis tools may make it worth the effort.
XM also offers a series of instructional videos, such as this one from its YouTube channel, on how to open an account using MT4.
Copy Trading
XM also offers popular copy trading solutions. This solution is particularly beneficial for beginners and less experienced traders who seek to leverage the expertise of successful investors. Through this platform, users can replicate the trades of seasoned professionals, benefiting from their market insights and strategies.
This approach allows novice traders to participate in the markets more confidently while simultaneously learning from the decisions of experienced traders. XM’s copy trading feature thus serves as both a learning tool and a means for less experienced individuals to potentially improve their trading outcomes.
Conclusion
Overall, XM is a well-regulated and secure company that offers a wide range of financial instruments and a good variety of accounts. Its focus on customer education and multilingual support is also a big plus. Disadvantages include floating spreads that can be higher than the competition. Overall, XM is a good choice for those looking for a regulated broker with a wide range of products and customer support services.
