XM Group Review
Minimum Investment10.0 /10
Spreads & Commissions9.5 /10
Forex Software10.0 /10
Customer Support9.0 /10
- XM is regulated by four different agencies, namely the ASIC, the FCA, the CySEC
- XM offers a trading account for as low as $5
- Lowest spreads and high leverage, combining the best trading conditions for scalpers
- Safe and secure payments, with withdrawals processed within a few hours
- XM does not offer a bonus to EU traders. The bonus is also not as comprehensive as other brokers
- US clients are currently not able to trade with XM
Open An Account At A Leading Forex Broker – Read Our XM Group Broker Review Today!
It is vital for any investor to find a reliable trading partner, regardless of their investment strategies or trading skills. In fact, even the most prolific trader is only as good as his/her broker, as a subpar trading experience can break a trader’s career. Luckily, XM Group is one of the better Forex brokers in the market that seems to have found a winning combination that is not only attractive to the trader but also ensures the long-term viability of the business model without affecting the integrity of traders’ investments.
Our detailed XM Group review is developed with the traders’ requirements in mind, and how investing with XM Group for the long-term can influence a trader’s career. We also give you some of the best strategies for obtaining the maximum out of XM Group’s services.
XM Group Regulation & Legal Information
XM Group is one of the best Forex and CFD brokers in the market for regulated trading accounts. XM Group is a group of online regulated brokers. Trading Point of Financial Instruments Ltd was established in 2009 in Limassol, Cyprus and is regulated by CySEC. Trading Point of Financial Instruments Pty Ltd was established in 2015 in Sydney, Australia and is regulated by ASIC. Trading Point of Financial Instruments UK Ltd was established in 2016 in London, United Kingdom and is regulated by the FCA.
XM Group is regulated by multiple regulatory agencies, with its primary headquarters based in Europe. XM Group’s European division is regulated by the Cyprus Securities and Exchange Commission (CySEC), as well as the Financial Conduct Authority (FCA) of the UK. XM Group also holds an Australian Financial Services License (AFSL) under the Australian Securities and Investments Commission (ASIC).
XM Group has set up a relatively secure brokerage platform that concentrates more on the safety aspect of an investment, rather than outright profits. However, with an increased investment towards being regulated and licensed, the broker has managed to cater to the most extensive retail trading market, which has indirectly helped the company to achieve better conversions and a significantly larger number of traders than its immediate competitors. XM Group does present an excellent choice for traders, fortified by the regulatory protection offered by some of the leading regulators in the market.
XM Group Assets Available
This broker has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms and this includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs and Cryptocurrencies CFDs.
XM Group Promotions
The broker has a trading volume-based loyalty program, which qualifies for trading bonuses or free money, according to the loyalty points accumulated through trading.
XM Group Trading Platforms & Mobile Apps
XM Group offers its trading services and brokerage accounts that are compatible with the MetaTrader platforms, which are available in both MT4 and MT5 versions. The MetaTrader4 version is the most popular Forex trading platform, but the MT5 sees a whole lot of changes and trading functionalities that make it one of the most advanced trading interfaces in the market. Both versions of the MetaTrader terminals are independent third-party platforms that provide an excellent trading platform for desktop traders, but the MT5 misses out on some trading features that are offered by the MT4 version.
XM Group does not offer 16 different trading platforms as promised through its website, as the broker only offers 16 different versions of the MetaTrader4 and the MetaTrader5 platforms for desktop and mobile trading. Both versions of the MetaTrader are available for download on the iOS, Android, and Windows devices, rendering excellent compatibility with both smartphones and tablets. Traders can download the MT4 mobile apps for trading on the move, while there is a dedicated XM Group mobile app that offers a dedicated account management interface for mobile users. XM Group has indeed paid excellent attention towards its mobile users, hence, meeting the expectations of a significant majority of Forex traders.
XM Group Spreads, Commissions, & Leverage
The XM Group leverage is high when compared to the competition, as smaller account holders can use up to 1:30 leverage for Forex currency pairs. Leverage applies to all EU regulated entities of the group. Leverage depends on the financial instrument traded and on clients’ county of residence.
XM Group Accounts, Deposits, & Withdrawals
XM Group offers its clients 4 types of account: MICRO, STANDARD, ZERO and ULTRA LOW with low spreads and a level of maximum leverage that can reach the 1:30.
The MICRO account allows you to operate with micro lots, lower level of risk and it has a minimum initial deposit of $5. The STANDARD account allows you to operate with standard lots and it has a minimum initial deposit of $5. The XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips and it has a minimum initial deposit of $100. XM ZERO account has a $3.5 commission per $100,000 traded. Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has a minimum initial deposit of $50. (XM Ultra Low account is not applicable to all entities of the group. Account availability depends on the clients’ country of residence.)
XM Group Customer Support
XM Group backs up its amazing accounts and services with a 24X5 customer service channel for instant support. The live chat is more than sufficient for taking care of customer complaints or queries, but the broker also provides phone access, email support, and a web contact form for ensuring that the company has all the major customer service avenues covered.
For traders looking for a stable Forex trading account and minimal capital outflow, XM Group is indeed an outstanding choice.
What Is The Minimum Deposit For ZERO Account?
Traders can start trading with a minimum investment of just $5 for the Micro and Standard accounts, while the Zero account is available for an investment of $100.
Is XM Group A Safe Broker?
Yes, XM Group is a regulated company that follows industry-leading regulatory guidelines for offering a secure trading account.
Does XM Group Offer A Free Demo Account?
Yes, traders can trade with a demo account before moving to a live trading account.