Why XM is the #1 forex broker in every time? Why did we recommend the XM broker without any hesitation? Let's explore more on the XM broker review.
Demo Account | Yes |
Minimum Deposit | $5 |
Max Leverage | 1:888 |
Spreads from | 0.0 |
Type of Broker | ECN |
Tradable Assets | Currencies, Gold, Silver, Other Precious Metals, Stocks, Stock Indexes, Bonds, Oil, Other Commodities and Cryptocurrencies |
Deposit Options | Bank Wire, VISA, MasterCard, Neteller, Skrill |
Established | 2009 |
Regulated by | CySEC, IFSC, FCA, ASIC, DFSA |
Telephone | +501 223-6696 |
Customer Support | 24/5 in 18 languages |
XM Broker, which is commonly known as Next Generation Broker, is one of the most prestigious and leading Forex Trading Platforms.
They are the best choice for beginners and also for the “Seasoned Investors.” You’ve got the permission to get started with a demo account with more than 1 million of virtual money.
With over 3,500,000 clients since it was founded in 2009, XM has grown to a large and well established international investment firm and has become a true industry leader.
XM is currently built of more than 450 professionals with long-year experience in the financial industry.
Our extensive experience combined with support for well over 30 languages, makes XM the broker of choice for traders of all levels, anywhere. We have the expertise and the resources to help everybody realize their investment goals like only a big broker can.
The company was established back in 2009 and started to roll in the markets of Forex right from the day first. They are regulated by the strictest regulation known as “CySEC.”
“They have more than one million clients, and they
are serving more than 196 countries around the globe”
The XM Broker is always praising them for providing the best Customer Service Support and Great User Experience, no matter “How much you are willing to invest.” They have their services in every country of the world.
Additionally, they are offering different types of accounts, which we will discuss shortly, and they also have demo accounts for the beginners.
In short* This platform is our personal favorite because they have everything that the investor is looking for.
Let’s break down all the information regarding XM Broker Review.
As discussed above, XM Broker is one of the most famous and prestigious marketplaces for the “Forex Investors.” And there are a lot of reasons behind it, one of the main reasons is “They are regulated by CySEC (Cyprus Security and Exchange Commission).
Additionally, XM broker is regulated by the Australian ASIC and United Kingdom (FCA).
This means there are zero chances of scams and frauds. If your concern is only the regulation, then we recommend this place without any second thought.
Let’s now talk about the account types.
There are four types of accounts that XM Broker is dealing with:
Let’s start discussing everything individually:
Base Currency |
USD, EUR, GBP, JPY, CHF, AUD, and Other Languages |
Contract Size |
1 Lot |
Leverage |
1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+) |
Negative Balance Protection |
Yes |
Spread |
1 Pip |
Commission |
No Commission |
Maximum Opening |
200 Positions |
Hedging Allowed |
Yes |
Islamic Account |
Yes |
Minimum Deposit |
$5 |
Base Currency |
USD, EUR, GBP, JPY, CHF, AUD, and Other Languages |
Contract Size |
1 Lot |
Leverage |
1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+) |
Negative Balance Protection |
Yes |
Spread |
1 Pip |
Commission |
No Commission |
Maximum Opening |
200 Positions |
Hedging Allowed |
Yes |
Islamic Account |
Yes |
Minimum Deposit |
$5 |
Base Currency |
USD, EUR, GBP, JPY, CHF, AUD, and Other Languages |
Contract Size |
1 Lot |
Leverage |
1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+) |
Negative Balance Protection |
Yes |
Spread |
0.6 Pips |
Commission |
No Commission |
Maximum Opening |
200 Positions |
Hedging Allowed |
Yes |
Islamic Account |
Yes |
Minimum Deposit |
$50 |
Base Currency |
USD, EUR, GBP, JPY, CHF, AUD, and Other Languages |
Contract Size |
1 Share |
Leverage |
No Leverage |
Negative Balance Protection |
Yes |
Spread |
As per the exchange |
Commission |
Yes |
Maximum Opening |
50 Positions |
Hedging Allowed |
No |
Islamic Account |
Yes |
Minimum Deposit |
$10,000 |
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They have different types of account |
None |
Islamic Account is available |
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Trading can be started from $5 |
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They have a lot of trading platforms to offer you for the “Forex Trading.” Here they are:
You can download the trading platform on any of your devices and start trading without any problem. Have a look at the screenshot below:
Pros |
Cons |
You can customize the tools |
None |
You can now trade from mobile devices |
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MetaTrader 5 availability makes this platform worth it |
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Now, it’s time to discuss the critical and the most important things related to the XM broker.
Here we go!
As we all know, the Spread of all the accounts is different, and it has a great impact on your trading. This is the reason why we see “Difference in Spread, leverage and commission” of all the account types.
There are four types of accounts that “XM Broker” is offering, and they have different Spreads as well. Scroll down to see:
So, these are the spreads for all the account types of XM Broker. You can select the account on the bases of the above-given spreads.
Now, let’s talk about the execution time and see what type of executions they have to offer to their investors.
According to the official website of XM Broker, they execute all the orders within less than a second. Have a look at the screenshot below:
Just like other brokers, they do offer two types of “Executions.” They are as follow:
Instant Execution is all about instantly selling your assets, whereas, in the Market Execution, you have to specify only the volume of the assets and leave the rest on the broker.
Both the Executions have pros and cons, and you must have a piece of knowledge about “Execution Time” before you choose any of them. So, which execution are you going for? Let us know in the comment section.
Note* We recommend only Market Execution because there are fewer risks involved.
When it comes to commission and fee, then there’s no comparison of XM Broker with anyone because they are the best in the business.
All the accounts have almost no commission and fee, let’s have a look at the Commission and Fee down below:
That means, if you want to open a shared account, you’ll have to pay them the commission; otherwise, they won’t charge you any fee/commission for Forex Trading.
Isn’t it amazing?
They are offering 4 types of accounts, and each account has its own leverage/margin. Have a look at the margins/leverage below:
The leverage is pretty low, and the same for all the account types.
The customer care service of XM Broker is pretty good, and you will find the answers to every single question coming to your mind regarding “Forex Trading.”
You can contact them via:
All the options are available on their official website, and you’ll find the email address and Phone number as well there.
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24/7 Support |
None |
Live Chat Support |
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FAQs portion in the website to answer all the questions |
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Now, as we are done with discussing the critical information regarding XM Broker, let’s discuss the two “Hot topics.”
Opening the account on the XM Broker is pretty simple and easy. You can open the account by following the instructions given below:
That’s how easy it is to open the account. Do let us know if you find any difficulty while opening the account; we will add the solution to it in our review.
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Super Easy |
None |
No Complications |
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Bonuses |
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Now, it’s time to discuss “How to withdraw the profited money from XM Broker?”
Here’s the solution!
If you want to withdraw the profited money from XM Broker, then you have to follow the instructions given below:
That’s how easy it is to withdraw money from your account.
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No Fee |
Limited Withdrawal Options |
Within 24 hours |
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Notify you for your transactions |
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Now, let’s have a look at the customer reviews related to XM Broker and check whether this place is worth it or not.
We have listed down some of the best reviews that you might find helpful before choosing the platform for trading. Let’s break them down!
Flintop Ray: Such an amazing place for newbie and professionals. I have no problems opening the account, withdrawing money, and executing the assets take no time.
Lina Anderson: I would recommend this place to everyone. Customer Services is great, and I am a big fan of this Forex trading marketplace.
David Rao: I have no problems with this platform, thumbs up.
Let’s now compare the XM Broker with FXTM.com to make things easy for you to choose the perfect fit for you.
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Overall Ratings: 4.8/10 |
Overall Ratings: 4/10 |
Trust Score: 90 |
Trust Score: 70 |
Founded: 2007 |
Founded: 2009 |
Publicly Traded: No |
Publicly Traded: No |
Bank Transfer: Yes |
Bank Transfer: Yes |
Authorized in EU: Yes |
Authorized in EU: Yes |
ASIC Authorized: Yes |
ASIC Authorized: No |
So, this is the brief comparison of XM Broker with FXTM, and clearly, the XM broker is the winner.
Before we wrap up things, why not discuss the Advantages and Disadvantages of XM Broker? Scroll down and check out “What are the advantages and disadvantages of the world’s biggest trading platform.”
So, these are the Advantages and Disadvantages of the XM Broker, and if you know more of them, do let us know in the comment section. We will add everything here.
Now, before we leave, let us enlighten you about the bonuses, contests, and promotions of the XM Broker.
So, let’s talk about it without wasting any time.
XM Broker is offering you a 15% signup bonus, and you can earn up to $500 signup bonus. Conditions for the signup bonus are listed below:
They have a promotion going on, which means You can win up to 1 million Dollars. They will manually choose 50 winners every year, and they will be rewarded with the amount.
Read more about the Bonuses, Promotions, and Contests by clicking here.
So, that’s all from the topic “Everything you need to know about XM Broker” and if you still have any questions in your mind, then feel free to ask us.
Leverage is the multiplication of your balance. This allows you to open bigger trading positions since the margin required will be lowered according to the leverage you have chosen. Even though with leverage you can make a bigger profit, there is also a risk of having a bigger loss because the positions you open will be of higher volume (lot size).
Example:
Account balance: 100 USD
Account leverage: 1:100
For your trading capital this means 100 * 100 USD = 10,000 USD to trade (instead of 100 USD).
The swap formula for all forex instruments, including gold and silver, is the following:
lots * long or short positions * point size
Here is an example for EUR/USD:
Client base currency is USD
1 lot buy EUR/USD
Long = -3.68
Because it is a buy position, the system will take the swap rate for a long position, which currently is -3.68
Point size = contract size of a symbol * minimum price fluctuation
EUR/USD point size = 100 000 * 0.00001 = 1
If we apply for the given numbers in the formula, it will be 1 * (-3.68) * 1 = -3.68 USD.
So for 1 lot buy EUR/USD, if the position is left overnight, the swap calculation for the client will be -3.68 USD.
Here is an example for gold:
Client base currency is USD
1 lot buy gold
Long = -2.17
Because it is a buy position, the system will take the long points, which currently is -2.17.
Point size = contract size of a symbol * minimum price fluctuation
Gold point size = 100 * 0.01 = 1
If we apply the given numbers in the formula, it will be 1 * (-2.17) * 1 = -2.17 USD.
So for 1 lot buy gold, if the position is left overnight, the swap calculation for the client will be -2.17 USD.
Please note that if the base currency of the trading account is in EUR (like in the examples above), the swap calculation will be converted from USD to EUR. The result of the swap calculation is always the secondary currency in a symbol, and the system converts it to the base currency of the trading account.
The examples above only serve as a guide and do not reflect the current charges. Please view the current swap charges for forex instruments here and for gold and silver here.
It is $5 for MICRO and STANDARD accounts, $50 for ULTRA LOW accounts, while for SHARES accounts it is $10,000
In case you fill out all details correctly, it takes less than 5 minutes.
Margin is the required amount in the base currency of the trading account needed to open or maintain a position. When trading forex, the Required/Used Margin for a specific position = Number of Lots * Contract size / Leverage. Here the result is originally calculated in the first currency of the traded pair and then converted into the base currency of your trading account, which will be numerically displayed on your MT4, or any other trading platform.
The margin requirement for gold land silver is calculated like this: Lots * Contract Size * Market Price / Leverage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD).
For CFDs, the required margin is Lots * Contract Size * Opening Price * Margin Percentage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD). More details can be seen here.
Margin level is calculated with the formula Equity/Margin * 100%.
Free margin is your equity minus margin. It means the available funds that you use for opening new positions, or for maintaining existing positions.
It is simple and quick. Click Open a Real Account, fill in the form and upon completion, you will receive an email with your login details that you can use to log in to our secure Members Area. Here you will be able to fund your trading account by clicking the Deposits tab in the main menu. If you are already an XM Real Account holder you can open an additional account in the Members Area.
Margin calculation formula for forex instruments is the following:
(Lots * contract size / leverage) where the result is at always in the primary currency of the symbol.
For STANDARD accounts all forex instruments have a contract size of 100 000 units. For MICRO accounts all forex instruments have a contract size of 1 000 units.
For instance, if the base currency for your trading account is USD, your leverage is 1:500 and you are trading 1 lot EURUSD, the margin will be calculated like this:
(1 * 100 000/500) = 200 Euros
Euro is the primary currency of the symbol EURUSD, and because your account is USD, the system automatically converts the 200 EUROS to USD at the actual rate.
If you have already opened a trading account, received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice.
You can find detailed guidance on XM trading platforms here.
have been trading with them since 2013