XM Group Broker Review

XM

Forex Broker

  • Company name: Trading Point of Financial Instruments UK Limited
  • Founded: 2009
  • Offices: Cyprus,UK, Australia
  • Regulators: EU CySEC License No. 120/10, UK FCA Registration No.705428, ASIC No. 443670
  • Broker type: Market Maker

Trading info

  • Min. Deposit: $5
  • Leverage: 500:1
  • Min. Spread: 0.0 pips
  • Deposit/Withdrawal: Bank wire, Visa/Mastercard, Skrill , Neteller
  • Currency pairs: 55+

Trading platform

  • Platform: MetaTrader 4, MetaTrader 5
  • Web based: Yes
  • Mobile: Yes

Open Account

8.5 TradeForexSA
Pros
  • Spreads from 0 pips
  • 5 USD Minimum Deposit
  • MT4 & MT5 Available for IOS & Android
  • Loyalty bonuses for existing customers
  • CySEC, FCA, IFSC & ASIC Regulated
Cons
  • Limited platform options with MT4 & MT5
  • Variable spreads might not be ideal for all traders
Summary

XM Group has achieved substantial growth since 2009, earning 1.5 million clients living in 196 countries. Regulated by three major regulators and the recipient of many industry awards, XM Group stands out from a crowded field of market maker brokers for their customer service and educational support.

XM Group is considered to be the broker with the most extensive experience and in-depth knowledge of the global financial markets. XM's operational philosophy is aimed at client satisfaction and low client turnover; they earn client loyalty through award-winning 24/5 personal customer service, varied account types and competitive trading conditions.

Account Types9
Client Support & Onboarding9
Free Services7.5
Deposit & Withdrawal8.5

Is XM Group Safe?

XM Group is the trading name of Trading Point Of Financial Instruments. XM Group has been regulated by ASIC (license 443670) since 2013, the FCA (license 705428) 2016 and CySEC (license 120/10) since 2010.

XM has won the award for the Best FX Broker Europe for 2017 & 2018 (World Finance Forex Awards 2017/8), an acknowledgement of this broker has achieved over the years. XM Group has also won awards for their educational material and customer surpport, winning Best Market Research & Education 2018 (Capital Finance International Magazine), Best Local Customer Service 2016 (FX168) and the Best Forex Customer Service (Shares Magazine UK Forex Awards 2018).

As per regulation, XM Group keeps client funds segregated from from the day-to-day operational account of the broker. Every evening, an audit is run on all client accounts to ensure there is sufficient liquidity in the trading organisation.

These internal processes, the industry recognition, and oversight from three major regulators shows that XM Group is a safe trading partner.

XM Group for Beginners

XM Group is a good broker for beginners with vast quantities of educational material, market analysis, webinars and seminars held around the world. The international customer service team is available for all client account and technical related questions.

Educational Material

XM Group’s educational content focuses on instruction in a video format. Their core educational offerings are three Education Rooms, aimed at traders of differing skill levels (Primary, Intermediate and Advanced). The Primary Education Room is open to the general public but you will need to register for an XM Account for access to the others.

XM also has an extensive library of other educational videos and it hosts numerous seminars and webinars in over 18 languages.

Analysis Material

The research and analysis section of XM presents traders with a daily market preview, Forex previews, cryptocurrency analysis and special reports. Other sections that cover technical analysis, as well as analysis videos focused on market fundamentals, assist clients in identify trading opportunities.

Customer support

The award-winning customer service team at XM Group is available 24/5 via telephone, live chat and email.

XM Group Video Introduction

Trading Conditions

XM offers accounts with transparent commission structures on account types that apply, tight spreads as low as 0 pips on major currency pairs, and fractional pip pricing.

Account Types

XM offers a Micro account, a Standard account, and Zero account in addition to a free demo account. XM Group offers an Islamic swap-free option on all account types.

Zero Account – The Zero Account from XM offers spreads as low as 0 pips and leverage up to 500:1.  These account conditions are revolutionary in this industry, especially for a market maker. This account requires a 100 USD minimum deposit for new customers.

Micro Account – The Micro Account has a 5 USD minimum deposit requirement.  The max leverage with this type of account is 1:888.

Standard Account – The Standard Account offers different bonuses, faster support and more access to the broker’s other features. The minimum deposit for this account is 5 USD. The main difference between the standard and micro accounts is the contract size.  The standard account uses standard lots, while the micro account uses micro lots.

XM Account types

Spreads and Commissions

Spreads on the Micro and Standard Accounts are as low as 1 pip, while the Zero Cccount has spreads as tight as 0 pips. The Micro and Standard Accounts do not charge any additional commissions on the trade, but a commission of USD 3.5 will be charged on trades of 1 standard lot with the Zero Account.

Deposit & Withdrawal fees

XM Group does not charge any fees for deposits and withdrawals from credit/debit cards and e-wallets. XM covers all transaction fees both ways for clients.

For deposits and withdrawals via international bank transfers, XM covers all fees imposed by their bank on all amounts above 200 USD.

Bonus Structure

XM offers signup bonuses, no-deposit bonuses and loyalty bonuses for customers who are actively trading.  At the time of writing, there was 30 USD of no-deposit Bonus, 50% up to 500 USD and 20% up to 5000 USD.

Trading Platforms

XM presents traders the choice between the industry standard MT4 platform, and the next generation trading product, MT5. It offers fast market execution and a no re-quotes policy on both platforms, though the MT5 platform offers 300 further stock CFDs.

The webtrader platform offers a seamless trading experience for traders who wish to trade from a web browser interface away from their regular workstations.

Mobile Trading Apps

The MT4 and MT5 mobile applications offer full XM account functionality to offer a seamless transition from the desktop application. The MT4 and MT5 applications vary in the number of technical indicators and instruments available to trade, and have different chart types and market analysis tools.

Compare XM Group

XM Group Vs. Etoro

 XMEtoro
FundingBank wire, Visa/Mastercard, Skrill , NetellerBank wire, Visa/Mastercard, Skrill , Neteller, PayPal
RegulatedEU CySEC License No. 120/10, UK FCA Registration No.705428, ASIC No. 443670UK FCA Registration No.583263 EU CySEC License No. 109/10
Broker TypeMarket MakerMarket Maker
Currency Pairs55+47
Minimum Spread0.0 pips2 pips
Minimum Deposit$5$200
Max Leverage500:1400:1
Expert ReviewRead reviewRead review
Visit WebsiteVisit XMVisit Etoro

XM Vs. AvaTrade

 XMAvaTrade
FundingBank wire, Visa/Mastercard, Skrill , NetellerBank wire, Visa/Mastercard, Paypal
RegulatedEU CySEC License No. 120/10, UK FCA Registration No.705428, ASIC No. 443670FSCA No.45984, ASIC, FCA, BVI, FFAJ
Broker TypeMarket MakerMarket Maker
Currency Pairs55+50+
Minimum Spread0.0 pips0.7 pips
Minimum Deposit$5$100
Max Leverage500:1400:1
Expert ReviewRead reviewRead review
Visit WebsiteVisit XMVisit AvaTrade

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the XM Group offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

XM Group Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients.  XM Group would like you to know that:  CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure.

Overview

XM Group is a serious market maker broker and provides a level of professional service beyond their peers. XM has been widely recognised and rewarded by the industry and, with regulation from CySEC, the FCA, and ASIC along with support for the leading trading platforms, has strength in accountability and technology.

XM Group has extensive instructional documentation and support to get new traders started, as well as regular market forecasts and webinars to appeal to all traders.

 

Jeffrey Cammack Administrator
Editorial Director at TradeForexSA
Jeff Cammack is the Editorial Director, a Forex trader since 2008, and educator. Always in search of new trading opportunities, Jeff can always be found doing research in the charts or combing through the financial news. When not trading, he is always researching his next article.
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How do I open a practice account?

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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