Forex Trading

XM Group review and ratings

For instance, cTrader looks impressive in terms of having everything well placed and informative. Several functions for easy manual trading are more effective there, in my opinion. It seems they allowing only one device that cause automatically close account the device to be close .

  • There are different trading platforms and flexible trading conditions provided for you to choose from, depending on your needs.
  • XM Group gives you insightful training materials, access to MetaTrader 4 and 5, a free demo account loaded with 100,000 USD in virtual funds, and much more.
  • You still get the same flexible leverage and no requotes or rejections.
  • Of all the brokers I tried, XM has the best customer service.

Whatever your interests, chances are you will find something to trade. However, XM Global does not offer cryptocurrencies or their derivatives. If you are looking to trade cryptocurrencies with all other benefits, might be a good alternative for you.

Why not try an XM Group demo account before choosing one of the real account options?

The MiFID also holds the XM Group responsible over jurisdictions from countries such as Hungary, France, and Italy. XM wouldn’t pay out people who were given the $30 no-deposit bonus and actually made a profit. Easily xm group review set up for demo trading with the longest time limit I ever tried so far. XM YouTube reviews is another great way to learn more about the broker and may make your decision easier when it comes to signing up with them.

We use over 50,000 data points and a consistent, fact-based methodology. Micro lots are the smallest tradable lot size that are usually allowed by most brokers and the good news is that this brokerage offers the same size for specific account types. Along with great customer service,every client can access numerous educational materialsthrough XM Learning Center with trading data and other necessary information that brings trading to a better level. In this regard, XM went also far and beyond with great respect and wide education support throughout various regions with a purpose to educate traders.

Finally, the Advanced Education Room is open to anyone with a funded XM Account. To access it, you must have deposited a minimum of $500 USD in the past three months. This room delivers real trading experience using real-time simulated trading conditions.

xm group review

This experience is combined with customer service and rigid regulation in over 30 languages that make them the best broker for trading, from all levels and different expertise backgrounds. It should be noted that the best brokers make money on spreads and a few on commissions. We recommend XM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. On the plus side, we liked the low stock CFD and withdrawal fees. The account opening process is seamless and hassle-free, and the broker offers a wide range of educational tools of great quality.

They will look for any reason to close your account after you make a profit. They’re the best broker,I really love everything about their service 🐕‍🦺. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Higher leverage allows to trade the borrowed capital which increases both the profit potential and the risk of loss.

Found 9 of over 10 reviews

Along withNews Feed,Technical Summaries and Technical Analysis, XM provides Fundamental Analysis and Trade Ideassuitable for beginning or advanced traders. In addition, there are numerous XM’s add- ones allowing you to enjoy extra benefits that the platform offers. This includes alsoXM VPS, Rapid Trade Execution and remote connection to a Virtual Private Server. The XM VPS brings non-stop work without your monitoring or even having the computer on.

xm group review

This directly leads to the broker’s ability to deliver the best execution and tight spreads. XM is an online broker and trading website that allows clients to trade a range of assets. For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research. All information on The Forex Geek website is for educational purposes only and is not intended to provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee.

Trading Conditions

Keep in mind that in order to achieve these feats, the trader’s computer and internet connection need to be of good quality as well. In terms of available markets to trade, XM Group also covers most traders’ needs, offering everything from forex to CFDs based on equity indices, individual shares, and commodities. The broker also used to offer certain cryptocurrency CFDs for trading, but these have recently been removed. XM Group is one of the reputable organizations working with Forex and CFD trading. This broker also provides its customers with convenient trading conditions. That is why the company uses the two most popular trading platforms – MetaTrader 4 and MetaTrader 5.

xm group review

You can upload a copy of your national ID, passport or driver’s license to verify your identity, while utility bills and bank statements are accepted as proof of residency. XM accepts customers from all over the world.There are a few exceptions though; among others, you can’t open an account from the USA, Canada, China, Japan, New Zealand or Israel. There is a $15 one-off maintenance fee after 1 year of inactivity, and this is followed by a $5 monthly fee if the account remains inactive.

All instruments are available to trade from the same trading account on 16 trading platforms which makes your trading easier and more efficient. These apps can run on Apple iPhones, Apple iPads, and all Android-supported mobile devices. The apps are regularly updated and provide an authentic login process to protect account privacy. XM mobile trading also helps clients in monitoring their trades remotely. The web-based version of MetaTrader platforms is also functional on mobile web browser apps and supports one-click XM trading.

As for the account base currencies, XM added extra flexibility in this regard too, as choosing XM Account you may select the base currency of your preference from the great supported selection. This range includes even South African Rand or Singapore Dollar , besides to other global currencies. Client funds are kept in investment grade banks and use segregated accounts, also falling under theInvestor Compensation Fundthat ensures recovery of funds up to €20,000 in case broker goes insolvent . Besides, one of the advantages you will get as a trader is aNegative Balance Protection, so there is no risk to lose more than the available balance. The main idea of the regulation is that the trader can trade secure, knowing that clients funds collaborate according to the strictest rules with minimised risks of fraud or unfair use. XM operates its trading environment according to the regulatory measures making it a reliable broker.

Our best alternatives to XM are:

XM Group is operated with client requirements at the forefront of everything that they do. This is not just for the best possible trading conditions but also the simplicity they can offer you when it comes to everything from opening an account to making deposits/withdrawals, contacting support and trading. Between 74-89% of retail investor accounts lose money when trading CFDs with this provider. The spreads, as with most online Forex brokers, are determined by the trading system and account type.

Our Recommended Forex Brokers

You cannot set alerts and notificationson the XM web trading platform. This feature is available only on the desktop trading platform. The only exception is bank transfers below $200, which incur a $15 fee. You can only deposit money from accounts that are in your name. If you sign up for a non-European entity, you will not be eligible for European client protection measures.

I don’t usually require assistance from the account manager as I have been trading for many years. However, it is a great option if you are new to trading and need some guidance along the way. XM Group accepts clients from all over the world, excluding the USA, Canada, Israel, and Iran. If you are from one of the restricted countries, feel free to look for an alternative broker on our compare brokers page.

XM account opening is fully digital, fast and straightforward.You can fill out the online application form in 20 minutes. For two XM Account types , which is very low,and $100for the XM Zero account. I’ve had around 10 withdrawals over the past year and all were processed without any issues.

This includes hundreds of seminars that have already been hosted around the world, with more to come. These include trailing stops, stops, limits, and market orders. Place the trade at any time of the day, provided that it is during trading hours. There is also the ability to place trades via the telephone for those who prefer this method. You can view all trading conditions for each specific asset by visiting the asset class’s page. There, you will find minimum price fluctuations, starting point for spreads, swap values, average spreads, and value of a lot.

Founded in 2009 and based in Cyprus, XM Group has 3.5 million clients and operates in 196 countries. This trustworthy broker holds a license from the Cyprus Securities and Exchange Commission through its parent company Trading Point Ltd. XM Group’s reputation for excellence led it to win the Global Forex Broker of the Year award in 2020. Meta trader 5 has more than 80 technical analysis objects and market depth of updated price quotes.