XM review 2021



Min Deposit


Min Spread




Broker Trusted Points

Every experience counts in the trading world, whether we talk about the trader’s experience or we take the experience of a brokerage firm into account. The broker is a robust link and hence if you wish to work under a popular and experienced firm consider all points before staring. You must have heard about XM.  But, is it profitable to invest your money with XM? Let’s find out. 

About XM

XM is an online brokerage firm which is a trading name of Trading Point Holding. This broker has been operating in the financial market since 2009. Though being a relatively old brokerage firm, it needs major improvement in most of the services it offers. The first is the complex design of the official website. The website should provide comprehensive information about the whole venture. But, XM websites seems to be overloaded with irrelevant information. 

The next drawback is the limited research and educational tools. Both these tools are vital in decision making, but, the broker has completely neglected this area. 

Is XM scam or not?

The broker does not seem to be safe due to the following reasons. 

  • Does not hold a banking license
  • Financial information is not publicly available

So, your money can be at risk with the firm. Think before investing with the firm. 

Trading charges of XM

XM  charges a withdrawal fee and also has some trading fee for complex financial derivatives. At the same time, stock and forex fees are relatively higher in comparison to other renowned brokerage firms such as HFTrading, TradeATF and ROinvesting. The firm also charges an inactivity fee and is relatively higher when compared with other firms. 

Trading platforms of XM

The user interface and functions are complex, and the broker has not taken any initiative to explain them through its educational courses or free video tutorials. Other drawbacks of these platforms include: 

1) Meta Trader 4

  • No Touch or Face ID login
  • Outdated design
  • The search option could be better

2) Web Trader

  • No two-step or safer login
  • Poor design
  • No price alerts

Markets and products

XM is a forex and CFD financial service provider offering to trade on limited currency pairs. The firm’s CFD selections options are lower in comparisons to other brokers like HFTrading, ROinvesting and Global Trade ATF. Real stocks are offered only to those customers who open their trading accounts under the IFSC regulation. Some common and famous tradable assets are missing, such as bonds, options or ETFs. 

The next drawback is the trader cannot change the level of leverage of products. Manually varying the level of the product is an essential feature when you wish to mitigate the risk associated with your trade.

Tradable instruments available with the broker are: 

  • Stock index CFDs: 28
  • Currency pairs: 57
  • Commodity CFDs: 15
  • Cryptos: Nil 

The number mentioned above seems pretty less as compared to other brokers in the league. This way, traders and investors can lose on to a lot of trading opportunities.

Customer support service

The broker’s website says that it has a customer support team that works round the clock to help you out. But somewhere it fails when it comes to execution. The response time for receiving calls is more than 1 minute.  

The other major problem with XM’s customer support service is that the Live chat option responds to the initial messages faster, but it becomes slower with succeeding questions. Thus, sometimes it is required to ask a similar question many times to get a direct answer. 

Leverage offered on trading 

The broker offers unrealistic leverage of 1:888 on trade. It seems to be a build-up number, and trading on such high leverage can lead to massive losses as leverage is a double-ended sword. The broker should think about this major issue as it is just focusing on its profit maximisation, ignoring traders’ interest and profit. Moreover, it does not suffice with the European trading laws. 

Minimum deposit

If you look at the broker’s official website, you will find that the broker’s minimum deposit is $5. It might lure you at one end, but if you go deep, you will find that the minimum deposit range lies between $5 and $10,000. It seems that the broker is only trying to enhance its profit ignoring the interest of traders. 

Education hub

The broker offers educational material, but it lacks some vital concepts. Also, these courses can be quite hard to decipher for fresh and new traders. 

Disadvantages of the brokerage firm 

1) Provides services across limited countries

2) Supports just 30 languages

3) Offer high leverage up to 1:888 

4) The Zero spread account of XM is not available worldwide

5) Limited trading platforms 

6) Forex and stock index complex financial derivative fees are higher

7) No trader protection for non-European users  

8) Limited trading assets

9) Does not hold a banking licence 

10) Outdated design of trading platforms 

11) The User interface of the official website is complex 

The Bottom Line 

The choice of broker is an important decision, and you should make it by looking at both sides of the coin. XM is not an ideal broker and lacks many basic things. The major drawback of a broker includes a limited range of tradable products, outdated design of web traders, the high fee for stocks and forex in comparison to renowned brokers like ROinvesting, TradeATF, 101investing, Global TradeATF, HFTrading etc. The broker’s website is complex and contains many technical words that seem hard for novice traders to understand. 

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Frequently asked questions 

What is the minimum deposit to open a trade with the broker? 

The minimum deposit charged by the broker is extremely high. It is between $5 and $10,000.


What is the maximum leverage offered by the broker on each trade? 

The broker offers unrealistic leverage of 1:888. 

What are the cons of XM? 

1) Provides services across limited countries

2) Supports just 30 languages

3) Offer high leverage up to 1:888 

4) The Zero spread account of XM is not available worldwide

5) Limited trading platforms 

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