XM Review 2022: It’s A Scam Or Safe? Detailed Overview

XM Review


Min Deposit


Min Spread




Broker Trusted Points

Investing in the financial markets is quite challenging if done without planning, research, and understanding. Traders, therefore, take the help of online brokers to assist them in practicing the trade, having strategies, and knowing the markets. The individuals, companies, corporations, etc., who are interested in investing their funds can select the broker fulfilling the requirements. 

The brokers should be regulated, have a market reputation, and most of all should have the trading instrument that the trader wants to invest in with leverage, accounts, etc. With this article, we’ll be discussing XM review, a broker who serves quality that attracts traders.  

XM forex broker offers versatile financial services bringing in versatility in thinking of traders and giving them a unified policy of trading principles. The broker aims to pace with the global market’s demands and achieve the goals of clients with an open mind. 

In addition, the broker has more than 5,000,000 clients within 190 countries and has been working since 2009. XM forex broker has become a leading broker with its phenomenal growth in the financial sector. 

The broker has so much to offer that we should get into the details and understand its services and features. So, let’s begin. 

XM Review: Pros and Cons

XM forex broker is a trustworthy and dependable broker in the market that has some amazing services to offer. The broker has several pros with a few cons to make it a more reliable and original forex broker of the financial markets. Here, we have the pros and cons of the XM broker for a quick view about the broker: 


  • Low minimum deposit 
  • Multiple account types 
  • Low spreads from 0.0 pips
  • Regulated broker
  • Copy-trading available 
  • Offers Islamic account 
  • Demo account 
  • Research and education 


  • No crypto offered for CFDs 
  • All the features are not supported on mobiles

XM Review: Regulation and Scam

XM broker is working under the name XM Global Limited and is regulated by four authorities. The International Financial Services Commission (IFSC) with a license number 000261/158, Cyprus Securities and Exchange Commission (CySEC) having license 120/10, Australian Securities and Investment Commission (ASIC) is licensed with number 443670, and Dubai Financial Services Authority (DFSA) F003484

All the authorities are set in different countries Belize, Cyprus, Australia, and Dubai, respectively. They provide traders with safety and data protection in their investment with the broker. Thus, making it a legit broker and not a scam. 

XM Review: Trading Account Types

XM forex broker has several types of accounts to make traders comfortable with their investment. They can choose the account that suits their needs and can begin trading. The accounts are designed keeping clients in mind and have all the key elements that make it worth investing. 

The accounts have exceptional trading conditions, have micro or standard slots, trading platform access, and many more advanced features. XM broker has the following accounts to invest in the markets: 

Micro Account

The account for the traders who want to start low and learn the trade with market understanding and practice. That’s why the account is named as the micro account of XM forex broker. With the account, clients can have the features and services such as: 

  • The contract size of 1 lot is equal to 1000
  • Base currency options
  • Different range of leverage 
  • Negative balance protection
  • Low spreads from 1 pip
  • No commission
  • 300 positions for order
  • Minimum trade volume 0.1 lots for MT4 and MT5
  • 100 lots restriction per ticket
  • Hedging
  • Islamic account optional 
  • Minimum deposit of $5

Standard Account

A standard account is the other account type that clients can invest with; the account is designed for beginners and traders with some market understanding. They can use the account to earn good profits from the financial markets. Here we have the services offered with the standard account: 

  • Base Currencies options
  • The contract size of 1 lot is equal to 1,00,000
  • Range of leverage 
  • Negative balance protection
  • Zero commission charged
  • 300 positions to open trade
  • The minimum trade volume of 0.01 lots
  • 50 lots restriction per ticket
  • Hedging 
  • Optional Islamic account
  • $5 minimum deposit

XM Ultra-Low Account 

An account for the clients with some market experts who have trading experience and want to trade with the best services can use the XM ultra-low account of the forex broker. The account has features such as: 

  • Base currency options
  • The contract size of micro and standard account
  • Range of leverage 
  • Negative balance protection
  • Spreads as low as 0.6 pips
  • No commission charges
  • 300 trading positions
  • The minimum trade volume of Standard and Micro lots
  • Hedging
  • Optional Islamic account
  • $5 minimum deposit

Shares Account

The shares account is a limited account of the broker, which is restrained from any other investment. Traders can use the account to trade in shares, as the name suggests. The account serves the following functions: 

  • USD as a base currency option
  • The contract size of 1 share
  • No leverage facility 
  • Negative balance protection
  • Spreads are as per the underlying change 
  • Commission is charged
  • Maximum opening positions 50 only
  • A lot of restriction ticket depends on the share 
  • Islamic account 
  • $10,000 as the minimum deposit

The account is for the experts of the stock market who can handle the market movements and understand the trade. 

However, traders have options with the account from XM; they can customize the accounts as per the requirements. 

XM Review: Account Opening

XM has an easy process of opening an account which hardly takes 5 minutes for the client. They can visit the official website of the broker, www.xm.com, and go to the open an account tab for the further process. 

The steps are given below to know how one can create an account with XM and start trading: 

  1. The first step of account opening is registering with the broker; there’s a form that opens up when the client clicks on the open an account tab. The form requires details such as first name, middle name, last name, country of residence, preferred language, email address, country code, and contact number. 
  2. Next, traders select the account type they want to start trading with the trading platforms. Then there’s a confirmation about the company’s newsletter and products services. 
  3. The second step after that is to provide the broker with the required documents and information. Clients need to upload a copy of their identity document along with address proof. 
  4. The third step is making deposits of funds in the account through various modes. It could be bank transfer, e-wallet or credit/debit cards, etc. 
  5. Moreover, the trader has the option of a $30 deposit bonus from an XM broker, so, instead of making a deposit, traders can start trading with this option. 
  6. The last step is to login into the account using the trading platforms and begin the trade. 

XM Review: Trading Platform

XM brokers have the best trading platform with the latest technology to enhance the trade of its clients. Traders can start investing in the markets with the trading platform by easily downloading them on the device they are using. The broker has the software for all the devices. 

Moreover, there’s also XM WebTrader that could also be used as the browser to trade online and use the trading platform services. 

MetaTrader4 (MT4)

MetaTrader4 is the user-friendly and most convenient trading platform for trading. It is a popular trading platform that serves the best. It has trading tools, indicators, and analysis tools that help traders predict their market changes. The platform was designed by MetaQuotes in 2005 for the forex market, but due to its flexibility, it is used by all the other financial markets as well. 

It has the following features: 

  • User-friendly interface 
  • Indicators and signals
  • Charts and patterns
  • Advanced technology 
  • Expert advisors
  • Automated trading
  • Easy installation
  • Convenient to use
  • Customizable

MetaTrader5 (MT5) 

MetaTrader5 is a software that is more advanced than MT4 but is not a second version of the MT4. The trading platform was introduced in 2010 to help investors with other market fast trade executions. It has facilities such as: 

  • Multi-assets trading platform
  • Covers centralized and non centralized markets
  • Faster and efficient than MT4 
  • Uses MQL5 language
  • Advanced charts and patterns
  • Expert advisors
  • Easy trading 

XM WebTrader

XM WebTrader is the browser offered by the broker to directly connect clients from the financial markets. These help them invest online, and within clicks, a trader can access the market. Moreover, there’s no need for downloading. 

The trading platform has the following features: 

  • One-click trade
  • Easy to use
  • Convenient 
  • Connects to markets
  • Provides history 

XM Review: Trading Instruments

XM forex broker has trading instruments that could be used to invest; there are more than 350 plus trading instruments to invest funds of different financial markets. Here’s the list of trading markets: 

XM Review: Commission and Spreads

The commission is the charge that online brokers take for their services to the clients. The charges are high with some brokers and low with others, depending on their policies. XM forex broker has zero commission trade policy with its trading accounts except for the shares account. 

So, traders have to pay no extra money for investing in the financial markets. 

Spreads is the price gap of the buy and sell of the instrument traded, which the brokers benefit from. Traders pay spreads charges to the broker; however, with XM, spreads are low. Starting with zero pips and maximum going to 0.6 pips for the Ultra account. The shares account has spread as per the underlying assets traded. 

XM Review: Leverage 

Leverage is the benefit as well as the risk that investors take from the brokers. It is the ratio that could be used by the investors for opening at high market positions and earning good profits with their initial investment. However, carrying the risk of loss in the same proportion. 

XM offers leverage ratio with accounts in this manner: 

For the accounts, micro, standard, and ultra low traders can have the following leverage ratios:

  • 1:1 to 1:888 ($5 – $20,000)
  • 1:1 to 1:200 ($20,001 – $100,000)
  • 1:1 to 1:100 ($100,001 +)
  • With the Shares account, there’s no facility of leverage

XM Review: Deposit and Withdrawal

The deposit and withdrawal of funds with XM broker is online; they use credit cards, debit cards, Neteller, Skrill, UnionPay, and Bank wire transfers to deposit the funds. For the withdrawal, they only use Skrill, Neteller, and Bank wire transfers. 

Traders can easily deposit their funds when opening their trading accounts or later as well when they want to begin the trade. However, for the withdrawal, traders have to follow a small process in which they have to inform the broker prior to withdrawing the funds. 

The form involves the amount of funds, traders’ names, and details; this is done for the verification purpose and having a secure trade. Once the broker verifies, traders can withdraw their funds. 

XM Review: Education and Research

Research and education are essential elements of the XM forex broker. The facility helps traders know the markets better and keep them updated about the happenings of the world. 

For education, the forex broker offers:

  • XM Live 
  • Live education 
  • Live education schedule 
  • Educational videos
  • Webinars
  • Trading platform tutorials
  • Forex seminars

For research, the broker has: 

  • Markets overview
  • News 
  • XM Research
  • Trade ideas
  • Technical summaries
  • Economic calendar
  • XM TV
  • Podcast

XM Review: Customer Support

XM has a professional team to solve the queries of its clients that are 24 hours accessible. A trader can connect with the team through the following:

Final Verdict

Traders have several choices in the market to invest their funds with; XM forex broker is regulated and has a reputation with the best services in hand. It has convenient trading, fair and trustworthy, free access to markets, provides personal managers, educational staff, best trading platforms, 24/5 customer support, licensed and regulated, and many more. 

However, a trader should always be alert and check the requirements before going with any online broker. 


How many account types are available with XM forex broker?

XM forex broker offers four types of accounts to invest funds in the market. All the accounts have their own features and services, which help the traders be successful. Here are the four XM account types: 

  • Micro account
  • Standard account
  • XM Ultra-low account
  • Share account

How to open an account with an XM forex broker?

To open an account with the forex broker, traders have to follow some simple steps: 

  • First, traders have to register with the broker.
  • In the second step, they have to provide brokers with information about themselves and upload the required documents. 
  • The third step is funding the account with the minimum deposit. 
  • The last step is to begin the trade.

How many trade instruments are available with XM forex broker?

XM forex broker has 350 plus trading instruments of different financial markets. A trader can choose from the following markets: 

  • Forex 
  • Stock CFDs
  • Commodities
  • Equity Indices
  • Precious Metals
  • Energies
  • Shares
{{ reviewsOverall }} / 5 Users (0 votes)
Customer Support
What people say... Leave your rating
Order by:

Be the first to leave a review.

User Avatar User Avatar
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating

Related Brokers


  • Get a Callback

    A trusted broker will contact you today.