XM Group Review 2024

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The world of financial trading is familiar with XM Group. XM Group is a group of online brokers. Trading Point of Financial Instruments Ltd was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission with license number 120/10. Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission with license number 443670. Trading Point of Financial Instruments UK Ltd was established in 2016 and is regulated by the Financial Conduct Authority with license number 705428. XM Global Limited was established in 2017 and is regulated by the International Financial Services Commission with license number IFSC/60/354/TS/19.

Today the firm XM has over 2,500,000 clients from 196 countries. The firm does over 1,400,000,000 trades in action with zero requites or rejections ever. The firm’s management has travelled and reached out to help clients across 120 cities globally too. Furthermore, offering services of trading in over 30 languages, the company has grown to become a dependable name in the business.

As of 2016, the company is a proud sponsor of Usain Bolt. XM is a winner of Forex Service Awards with the most recent one being the Best FX Service Provider award by the City of London Wealth Management Awards COLWMA 2019. The firm is also a winner of the Best Broker Awards in 2017, 2018 and 2019 in Europe from the World Finance Magazine.

XM Group around the globe

XM in Australia is operated by Trading Point of Financial Instruments Pty Ltd, and they are one of the leading Australian forex brokers.

How does XM Group work?

Start Trading with XM Group by opening a real account with just $5, or just open a free demo account with them.

Regulation & Trust

Is XM Group a legit and regulated broker?

Yes,  XM Group has an excellent reputation across the globe. They have valid licenses. The entities of XM Group are regulated by the following authorities:

• ASIC (Australian Securities and Investments Commission): Trading Point of Financial Instruments Pty Ltd./li>
• CySEC (Cyprus Securities and Exchange Commission License): Trading Point of Financial Instruments Ltd.
• FCA (Financial Conduct Authorities): Trading Point of Financial Instruments UK Ltd.>
• IFSC (International Financial Services Commission license): XM Global Limited.

XM Group broker today has become a fair trading firm and has 16 full-feature trading platforms. The clients get lightning speed of transactions online and even avail of Negative Balance Protection.

Trading Platforms & Tools

Does XM Group use Metatrader?

XM.com offers the Meta Trader 4 (MT4) and Meta Trader 5 (MT5) suites as trading platforms. Both platforms are developed by MetaQuotes Software and XM trusts their platforms for trading. Furthermore, the company offers mobile trading, and web trading, and even works using cryptocurrencies.

While the MT4 is ideal for the users at the initial levels, the MT5 interface is full of features and has many benefits for the users. The MT4 has 9 timelines, and MT5 has 21 to be precise. The company uses MT4 for those who seek a customized trading platform or go for MT5’s Analytical objects as and when necessary. There is also the MT5 Web trader for those planning to go for desktop-based trading. There is also the MT4 Multiterminal and the MT4 Web Trader to put into use. The big difference between the two is the MT4 does not allow for trading on stock CFDs.

The platforms for PC/MAC, Smartphones, and Tablets:

• For PC/MAC:
  • MT4 for PC: The MT4 requires no re-quotes and no rejection. It has VPS functionality, full EA functionality, and 3 chart types and a Micro lot account is optional.
  • MT4 for MAC: The MT4 allows you to trade on your MAC computers with no rejections and no-re-quotes with flexible leverage too. There is no need for a parallel desktop or boot camp and still, you can use one single login to get into 8 platforms. The spreads are as low as 0.6 pips. With one-click trading, the platform is functional with 50 indicators.
  • MT5 for PC: The MT5 has options for investing over 1000 instruments including Stock indices CFDs, Forex, and CFDs on cryptocurrencies (not available in the UK, AU, and EU) and energies. There is an option to log in from a single login ID on 7 platforms and at spreads as low as 0.6 pips.
  • MT5 for MAC: The tool uses full expert advisor functionality, supports all trading order types, and has a built-in market analysis tool. It allows hedging, and even trading with low/ zero pips.
  • MT4 Multiterminal: This allows for up to 128 trading accounts and multiple order types. There are 3 allocation methods that allow for management and execution in real-time.
  • MT4 WebTrader: This is available with a no-download option for both Windows PC and MAC OS. It allows for single-click trading. Moreover, it has modifiable attributes of graphical objects and choosing duration on the history tab. It also has active orders visible on the chart.
  • MT5 WebTrader: It offers over 1000 instruments, including Forex and CFDs on precious metals and more. It can trade via the web browser and has editable properties of graphical objects. It supports all types of trading orders.

There are similar platforms for mobiles/ smartphones and even tablets. They all get MT4 and MT5 for Android and IOS as well.

XM Mobile Trading

XM Group also offers the IOS and Android versions of MT4 and MT5 trading apps. These are available for download and use from the Apple iTunes store and Google Play Store, respectively. XM also offers Expert Advisors on the board to help the investors select the trading platforms as per their requirements. Various Smartphone trading platforms are as follows.

• MT45 for iPhone: XM MT4 for iPhone trader is a 100% native iPhone application, with 3 chart types and 30 technical indicators. It has built-in news functionality and pushes notifications. The site offers detailed instructions regarding the downloading process and the compatibility-related queries you might have while installing and working with this application.
• MT4 for Android: The product offers a full trading history journal, real-time interactive charts with zoom and scroll features, and faster trading. It provides 3 chart types and allows traders to trade all the instruments available at XM, including stock indices, forex, precious metals, and more.
• MT5 for iPhone: The MT5 trader on iPhone has over 1000 instruments on offer. The native application has all trading order types supported. The MT5 has 1 platform and 7 asset classes built by Metaquotes for iPhone specifically.
• MT5 for Android: The Fully functional and 100% native application works for trading on all order types. The MT5 takes care of 7 asset classes and functions faster. Traders will need to have a dedicated account user ID and password to open an XM MT5 account.

Instruments

How many assets can be traded at XM Group?

They currently offer a range of over 1000 instruments to trade including forex trading, stock CFDs, commodity CFDs, Index CFDs, metal CFDs and energy CFDs.

Cryptocurrencies

Unfortunately, crypto trading is not supported by this broker.

Trading Conditions

What are the XM Group Spreads?

The company offers to trade with no hidden fees and has over 1000+ financial instruments. It has tight spreads as low as 0.6 pips on all major currency pairs. The fractional pip pricing works here. The firm facilitates clients to trade on both fixed and fractional pip pricing conditions with the aim to let the clients gain out of all the methods. The firm XM does not impose any restrictions on trading during any news announcements.

What are their fees and commissions?

They have a dormant fee of $5/monthly if your account hasn’t had an activity for 90 calendar days.

What is their max leverage with XM Group?

XM.com offers leverage up to 1:888; however, it should be noted that leverage depends on the client’s country of residence and on the financial instrument traded. There is a real-time risk exposure monitoring option. There are no higher limits on depositing. The company can be of equal importance to a first-time investor or trader as much as a seasoned veteran in this sector. Additionally, the company does not change in margin overnight or during weekends.

The firm’s use of diverse platforms across all devices only gives it better leverage. The firm has options for trading via a demo account and even a real account. The firm’s penchant for offering tight spreads is also a highlight for many clients willing to risk out and yet stay within the line. The firm’s margin is the amount of collateral to cover any credit risks that arise during trading works. The margin is the percentage of position size. The Dynamic margin percentage increases as per the dynamic leverage value of individual instruments.

Research & Education

Their education centre is excellent. They provide live education, educational videos, forex webinars, forex seminars, daily news, technical analyses, economical calendar, and forex calculators,…

Type of Accounts

At XM, you can have as many as 8 trading accounts and 1 Share account. XM offers clients to have demo accounts or even real accounts with ease. The firm has Micro account, Standard Account, XM Ultra Low Account, and Shares Account as its account types. There are options for demo account types and real account types too. The base currency options, the contract size, and the leverage are different in the case of each of these account types. The Negative Balance Protection is active in all account types. However, there are hedging allowances in Micro, Standard, and XM Ultra Low Accounts but not in the Shares Account type.

Forex Islamic Accounts: Do they provide Swap-Free Accounts?

Yes, they do. Islamic account for Muslim traders is provided by them upon request.

What is the minimum deposit on XM Group?

For just $5 you can open a real account with them.

XM Group Demo Account

They have free demo accounts without an expiry date.

How to Open an XM  Trading Account?

Opening an XM trading account is very simple and fast. The first step, You just need first to fill up all the basic personal details required (Name/Surname, country of residence, language, phone and email), choose a regulation, type of trading platform, and what type of account you want. Once done this, you will receive an email with the login details.  Next step, in order to validate your account, you must submit identification documents ( proof of identity and residency). And the last step, you have to make a deposit and download the trading platform you choose.

Deposit and Withdrawal Methods

The XM trading company offers 57 currency pairs and around 1000 CFDs. The firm also accepts trading in five Cryptocurrencies including Bitcoin, Litecoin and more. The company facilitates to trade in over 840 CFDs like Gold, silver, stocks, and other commodities. The funding in the account is 100% automated, and XM also offers same-day withdrawals. The clients can choose from a host of payment options as per their country’s regulations.

The clients can trade in currency options like USD, EUR, GBP, SGD, ZAR, JPY, AUD, PLN, RUB, and more. However, they will have to convert each of these base currencies into units as per their account types. To elaborate:

Micro account- 1 Micro lot is equal to 1000 units of the base currency

Standard Account- 1 Standard lot is equal to 100,000 units of the base currency

The firm accepts cards like Master Card, and VISA Electron, besides the e-wallets like Skrill and Neteller. The company also accepts bank wire and even bank transfers. There are no hidden fees or commissions additionally charged. The minimum deposit or withdrawal amount is $5 and its variants as per different currencies. The company answers withdrawal requests in just 24 working hours.

The company XM Trading only processes withdrawals back to the source of the original deposit. Moreover, you can only transfer the same amount back to your card, and the profits will be sent to your bank via bank or wire transfer. All the withdrawal processes will only happen if the firm validates your identification after checking your ID proofs.

Promotions

Does XM offer a bonus?

They are giving away up to a $5,000 Welcome bonus or a $30 no-deposit trading bonus depending on the regulation you choose and the country you are based on (*No bonuses are offered to EU/UK/AU citizens due to regulation).

Customer support

Traders facing issues at any time can seek the Multi-lingual live customer support system. They can go for live support 24 hours a day, five days a week. This is a service for all types of account holders. You may even contact the support team by phone or email.

The phone support is available 24 hours a day, 5 days a week as per the GMT. Online support is available in the same time zone. The site XM.com has an elaborate FAQ page with answers to all possible questions. In case traders do not get relevant answers to their questions here, they can call or mail as a convenient option.

Languages

XM Global is offered in many languages: English, Malay, Chinese, Indonesian, Japanese, Korean, Vietnamese, Thai, Arabic, Bengali, Filipino, Russian, Greek, Hungarian, French, German, Spanish, Portuguese, Polish, Swedish, Dutch, and Czech

XM Group Review: Summary

XM Group is a licensed firm with trading platforms of MT4 and MT5. The firm has won several accolades over the years globally, thereby reassuring traders. The firm has become the official sponsor of Usain Bolt, and just like him, XM also aims to speed up its business. There are no hidden fees and no re-quotes thereby making it one of the top brokerage firms. The tight spreads of as low as 0.6 pips in all major currency pairs and for trading in real-time across 100+ financial instruments make it popular. The fractional pip pricing option is also a highlight to note. Talking of the advantage and the margin also, one cannot deny XM is an excellent option for all types of traders.

To gain more than 8 on 10 ratings here, XM has to be more responsive to trader issues and advantages. The firm will then be the undisputed ruler of the online trading world.

Author of this XM review