Pros
  • Traders from 196 countries
  • Five different types of account
  • Leverage up to 1:888
  • Live chat
Cons
  • Long waiting time
  • Email support is not very good

Company Information

XM was founded in 2009, and since then has been increasing enormously. XM is a good choice for many, as it has a range of trading tools, including training ones, as well as five account types with different conditions. One more thing is worth mentioning, XM has also won many awards, including “Best FX Broker for Europe 2020”. You can either trade with a small amount, as a beginner, who doesn’t want to take huge risks, or as an advanced trader, who can deposit small fortunate. XM is currently built of more than 450 professionals with long-year experience in the financial field.

Markets

XM gives over 1000 trading tools to trade six assets. This grants an excellent opportunity to make your portfolio more attractive. You can also buy company shares and stock CFDs, which is great news. If shortly, there are the following assets at your service:

● Currency Pairs
● Commodities
● Precious metals
● Indices
● Stocks and Shares
● Cryptocurrencies
● Options
● ETFs

Trading accounts

The broker offers five account types for different citizens, some of them are only for EU citizens, others vice versa. In such a way it allows to trade almost from any corner of the world. So, let’s review all the features of each account type so that you select only the best.

  • Micro
  • • First deposit – $5
    • 1,200+ trading tools
    • Leverage – 1:888
    • Spread – 1 pip
    • Commission fee

  • Standard
  • • First deposit – $5
    • 1,200+ trading tools
    • Leverage – 1:888
    • Spread – 1 pip
    • No commission

  • Ultra low
  • • First deposit – $50
    • 1,200+ trading tools
    • Leverage – 1:888
    • Spread – from 0.6 pip
    • No commission

  • Zero accounts
  • • First deposit – $100
    • 1,200+ trading tools
    • Leverage – 1:30
    • Spread – 0 pips
    • Commission fee

  • Shares account
  • • First deposit – $10,000
    • 100 trading tools
    • No leverage
    • Spread – floating
    • No commission

Open an account

It is a very quick and easy process to open an account with XM. All you need is to enter the necessary data, like personal information, address, etc. Just follow the instructions on the website, it is rather clear and easy to do. It won’t take much of your time either.

© XM website screen

Minimum deposit

Micro or Standard accounts require only $5 as the first deposit. Ultra law and Zero need $50 and $100 accordingly. The biggest deposit is on the Shares accounts. You are to choose the most convenient for you.

Trading Platforms

XM offers you to use both MT4 or MT5. The broker developed mobile versions for both platforms. If you do not want to use a separate app, you can always use the WebTrader version. In other words, you have different ways to trade, and you can use a different amount of tools.
MetaTrader 4 is the most popular forex trading platform in the world. MT4 also supports robots and scalping and is very easy in use. Moreover, you can also set up over 50 different trading indicators and signals.
MetaTrader 5 gives you more advanced tools. Basically, it is an updated version of the MT4. The main perk of using this platform is that it supports stock and share CFD trading.

Our verdict

After careful research, we can make the following conclusions. XP is a popular broker for sure, as the number of clients proves the very fact. We can assume that XM is not a bad choice to trade, as it offers low costs, trusted regulation, great educational services, and attentive customer support. One more good thing about the broker is that it has a splendid security system. Moreover, if you are a complete beginner, there are clear instructions on every step you take, so you do not need to worry about that. However, we advise you to check different broker, to compare what each offers and only then to make a decision.

4.8 rating
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