XM Review

XM Review

6.8

Assets choice

5.8/10

Performance

8.5/10

Deposits & Withdrawals

8.8/10

Client support

7.7/10

Pricing

3.3/10

Pros

  • various accounts types
  • CFDs trading
  • nice spreads
  • good performance

Cons

  • less deposit/withdrawal methods
  • not too much pairs
  • not 24/7 support
  • market-makers
  • too much advertising

The main features of this brokerage

The broker offers 3 types of accounts: Micro, Standard, XM Zero with the leverage up to 1:500.

— XM is licensed in the EU.

— Vast variety of assets is available for trading: Forex currency pairs, commodities, stocks, indices, cryptos, metals and energies.

— Tight spreads from 1 pip and a fixed commission on ECN accounts are a good news for traders.

Various trading and deposit bonuses, a loyalty program are available.

Traders can use multiple methods for deposits and withdrawals: with credit cards, bank wire transfer and electronic payment systems (Neteller, Skrill, Klarna, Przelewy24)

— There is a choice from 2 most popular trading platforms: MT4 and MT5.

— This Forex broker offers a personal account manager for the further help.

— All the strategies (scalping, hedging, automated trading and many other) are allowed.

General information

This brokerage was created in 2009. It is regulated by CySEC and registered with FCA. Their headquarters is situated in Limassol (Cyprus). Traders who work with them for quite a long time say that it is transparent, professional and offers major financial instruments along with excellent conditions on both demo and real trading accounts.

This Forex broker is authorized by AFM, BaFin, FIN, CNMV and FI to conduct its services on the EU territory.

Accounts

Micro and Stardard ones offer a wide choice of base currency options while Zero has just EUR and USD as base currencies. Spreads and leverage are worth attention as well. Choose from 1:1 to 1:500 on any account. As every ECN broker, XM offers 0 spreads on their Zero accounts (anyway, you will pay a commission for every lot), or tight spreads from 1 pip on other accounts.

Demo accounts are also available for beginners. The good news is that many experienced traders who work with XM say that the conditions on Demo are very close to those on real accounts. Moreover, Demo accounts don’t expire, so you can work with them as long as you need, even while trading on a live account, as everyone knows tat experts often use both demo and live accounts (for testing, practicing, experimenting with their strategies).

Minimum deposits

Traders can be pleasantly surprised by the minimum deposit of $5. If you want to trade on a XM Zero account, you’ll need to depo $100. However, there is no upper limits for depositing, you can choose the sum you like. Such numbers are good for beginners, as every newbie can afford the minimum amount for starting their Forex journey.

Bonuses

Surely, bonuses is a great part of every broker review. Beginners can enjoy the process of trading with more money, however, every bonus has its conditions. XM offers trading and deposit bonuses, a free VPS service, their special loyalty program and 0% commissions for depositing and withdrawals. Anyway, before getting a bonus, learn all the rules and make sure that you can fulfill the conditions, other way you won’t be able to withdraw the money you’ve traded.

Trading platforms

People who like combining various platforms and enjoy working with innovative solutions, will be pleased with presence of two most well-known trading platforms in the world. This ECN broker offers MetaTrader4 and MetaTrader 5 for all systems (Windows, MacOS, Android, iOS). They are also present as Web-trader versions. Such an assortment gives traders a chance to be always aware what is happening on the markets. You just need the access to the Internet and a gadget for working.

By the way, expert advisors, automated and social trading is supported too. If you prefer manual trading, you get all the necessary instruments. It means that you can set take profits, stop losses and trailing stops, and sit back.

Conclusions

The company has all the means for educating new traders and making working comfortable for experienced financiers. For newbies, there are educational section ‘Research & Education’ where you can learn theory, read analysis and the most important economic news, find webinars and tools such as Forex calculator, calendar or signals. XM customer support works 24/5 and speaks 23 languages. If you are not satisfied with trading conditions or have some problems, contact the support team and get a solution in a short time, they tend to answer questions quickly to please the clients.

This is one of the main reasons for the quick growth of the XM brokerage. Their progress can be seen in peoples’ reviews on the Internet.

juicyforex Author

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