XM Review
Introduction and Background information
Established: 2009
Address: 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus
XM allows scalping as well as trading during time of increased volatility.
Account types
Micro and Standard accounts have a minimum deposit of $5
There are mainly three to choose from, including the commission-free Micro and Standard accounts, and the commission-based XM Zero Account. It’s worth noting that there is also a fourth account type, the XM Ultra Low account, but it is not available at all the entities of the Group.
Minimum Trade Size: 0.01
Maximum Leverage: 888:1
Minimum to Open Live: $5
Instruments
over 1300 tradeable instruments
Currencies: (55+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
XM offers traders CFDs on 1200 stocks, 30 indices, eight commodities, four metals, five energies, and 57 forex pairs
Education
Regulation
XM broker is regulated by several government regulators:
Australian Securities and Investments Commission (ASIC), registration #443670;
Belize International Financial Services Commission (IFSC), registration #IFSC/60/354/TS/18;
Cyprus Securities and Exchange Commission (CySEC), registration #120/10.
Financial Conduct Authority (FCA)
XM Group is a MetaTrader-only broker offering the standard, out-of-the-box experience, including both MT4 and MT5
Deposit and Withdrawals
Deposit Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill
Withdrawal Methods: Bank Wire, VISA, MasterCard, Neteller, Skrill
Fees (spreads/commission)
In the XM Zero account, average spreads on the EUR/USD stand at 0.1 pips (according to XM Group website data, and not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.
Commissions: Even after including the USD $3.5 per side commission ($7 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 0.8 pips (0.1 spread + 0.7 RT commission), making the XM Zero account the firm’s most competitively priced offering.
Execution
It is worth noting that XM Group acts as the sole dealer (principal) in all trades it executes and offers no re-quoting across all its account types in terms of the execution method as a market-maker/dealer. This execution method allows XM Group to provide lower spreads during certain market conditions
Customer Support
[email protected], +357 25029933
Promotion
Profits made by trading XM bonuses are withdrawable. However, you can not withdraw XM bonus itself.
Conclusion
