XM

 

xm-forex-logo-80-heightsign-up-green1
$50
Minimum Deposit
500:1
Maximum Leverage
0.0
Minimum Spread
8.5 TradeForexSA
Pros
  • Zero Account - Spreads as low as Zero
  • Low Minimum Deposit
  • Mobile phone trading available
  • Frequent bonuses available, including loyalty bonuses and a first deposit bonus
  • UK & EU Regulated
Cons
  • Limited platform options with MT4 & MT5
  • Variable spreads might not be ideal for all traders
Summary
XM works hard to attract and retain traders by making the platform accessible and fun. They offer a set of different bonuses, including loyalty bonuses, to ensure that traders are happy which is in contrast to other brokers who become less attentive once deposits have been made.  With the tools provided by XM, it’s clear that this broker is invested in the success of its traders and for most investors, having a loyal, attentive broker is exactly what they are looking for. 
Account Types9
Client Support & Onboarding9
Free Services7.5
Deposit & Withdrawal8.5



Bonus Structure

XM offers good bonuses for clients at signup, but also throughout they time they trade on XM making this a stand out aspect of this broker.  At the time of writing, there was $30 of No Deposit Bonus, 50% up to $500 and 20% up to $5000.  While this is likely to change at some point, it will more likely change for the better, and we will try and keep this page updated with the latest.

Account Types

Any eligible person who registers with XM is given a demo account to play around with until they get the feel for the MT4 platform. Other than that, you will find three basic account types via this broker: A Micro account, a Standard account, and an Executive account.

  • Zero Account:  A brand new account from XM that offers spreads as low as 0 pip, leverage up to 500:1,  zero fees on deposits and withdrawals while keeping hedging and EAs allowed.  This is a quite revolutionary in this industry and it leads me to believe that XM is trying to make forex trading something more accessible to the average person.  This account requires a 100 USD minimum deposit for new customers, but the bottom line is – a great new option from XM for an account.
  • Micro Account: One of the best selling points of the Micro account is that there is no minimum deposit requires. Of course, any trader will need to put enough in to trade with, but XM doesn’t require a set number to begin trading. The max leverage with this type of account is 1:888, and it doesn’t come with a whole lot of features outside of some help and analysis and status reports.
  • Standard Account: The Standard account offers much more in the way of options, including different bonuses, better help from the experts, more access to the broker’s other features, etc. The minimum amount needed to start this account is $3,000, maxing out at $100,000, so this is the epitome of the “standard” account in every fashion.
  • Executive Account: A huge account with XM, this Executive option takes a minimum of $100,000 to open. For this, you’ll receive the full run of the broker’s services, from advanced charting and personal account management to mobile alerts every time the slightest thing changes in the market.

Unique Selling Points

  • Interest rates accrue on all funds
  • MAM accounts
  • Good affiliate program available
  • 57 currency pairs available
  • Wide leverage options
  • No rejection policy
  • Very fast execution

Additional Cons

  • Tight spreads available from 0 pips
  • Up to 500:1 leverage
  • Solid support features
  • Hedging allowed
  • Phone trading available
  • No requotes
  • Automated trading available
  • Mobile trading
  • No minimum Micro account
  • Trading contests available
  • Training courses
  • Personal manager for accounts
  • Segregated accounts
  • Deposit using Bitcoin.

The Breakdown

First showing up on the scene around 2009, XM is a Forex broker that is recognized for its proclivity for handing out bonuses as well as providing the level of service expected from an organization of this size.  With regulators around the world overseeing this International trading organization and the segregated accounts functionality, XM can be trusted with your fund and your trades. This STP broker is registered with FSA UK and is regulated by CySEC.