XM Broker is commonly touted as a next generation broker. It is one of the most prestigious and leading forex broker platforms.
There are many reasons to choose XM Broker. One of the main reasons is that XM Broker is considered the best trading platform for beginners.
In line with that, they provide a demo account with $100,000 in it for trading. This means you can learn first and then open your account.
Isn’t it amazing?
XM Broker was established in 2009 and started rolling in the Forex market right from the first day. They are regulated and considered as safe for trading.
Additionally, they have more than 1 million active users from 190 countries. The users always praise the Customer Service because they help them throughout the trading process.
You can get different types of trading accounts here. As discussed above, a demo account is the best feature they have on the website.
In this article, we will review everything related to XM Broker. So, without wasting any further time, let’s get started!
Main Features and Highlights of XM Broker
| Country of regulation | Cyprus, Australia, Belize, United Arab Emirates |
| Trading fees class | Average |
| Inactivity fee charged | Yes |
| Withdrawal fee amount | No |
| Minimum Deposit | $5 |
| Account Opening Time | 1 day |
| Bank Deposit and Withdrawal | Yes |
| Number of Base Currencies | 11 |
| Demo Account | Yes |
| Products | Forex, CFD, Real stocks for clients under Belize (IFSC) |
XM Broker Regulation
XM Broker is a group of regulated online brokers where millions of active users invest on a daily basis. They are regulated by CySEC (Cyprus Security and Exchange Commission), ASIC, and FCA.
The chances of scams and frauds are almost zero on XM broker. Have a look at the table below containing information related to XM Broker.
| Year Founded | 2009 |
| Publicly Traded | No |
| Tier 1-License | 2 |
| Tier 2-License | 2 |
| Tier 3-License | 1 |
| Trust Score | 84 |
The trust score information is collected from Forexbrokers.com.
Let’s now talk about the account types of XM Broker.
Account Comparison of XM Broker
There are four types of accounts that XM Broker is offering to their customers.
- Micro Account
- Standard Account
- XM Ultra-Low Account
- Zero Account
All the information that we are about to reveal is collected from the official website of XM Broker.
Micro Account
| Base Currency | USD, EUR, GBP, JPY, CHF, AUD and Other Languages |
| Contract Size | 1 Lot |
| Leverage | 1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+) |
| Negative Balance Protection | Yes |
| Spread | 1 Pip |
| Commission | No Commission |
| Maximum Opening | 200 Positions |
| Hedging Allowed | Yes |
| Islamic Account | Yes |
| Minimum Deposit | $5 |
Standard Account
| Base Currency | USD, EUR, GBP, JPY, CHF, AUD, and Other Languages |
| Contract Size | 1 Lot |
| Leverage | 1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+) |
| Negative Balance Protection | Yes |
| Spread | 1 Pip |
| Commission | No Commission |
| Maximum Opening | 200 Positions |
| Hedging Allowed | Yes |
| Islamic Account | Yes |
| Minimum Deposit | $5 |
XM Ultra-Low Account
| Base Currency | USD, EUR, GBP, JPY, CHF, AUD, and Other Languages |
| Contract Size | 1 Lot |
| Leverage | 1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+) |
| Negative Balance Protection | Yes |
| Spread | 0.6 Pips |
| Commission | No Commission |
| Maximum Opening | 200 Positions |
| Hedging Allowed | Yes |
| Islamic Account | Yes |
| Minimum Deposit | $50 |
Zero Account
| Base Currency | USD, EUR, GBP, JPY, CHF, AUD, and Other Languages |
| Contract Size | 1 Share |
| Leverage | No Leverage |
| Negative Balance Protection | Yes |
| Spread | As per the exchange |
| Commission | Yes |
| Maximum Opening | 50 Positions |
| Hedging Allowed | No |
| Islamic Account | Yes |
| Minimum Deposit | $10,000 |
So, these are the account types that XM broker is offering. Which account are you going to choose and why? Let us know.
Trading Platforms
With a good trading platform, you can stay on top of the market. This is why trading platforms are important when choosing a broker.
XM broker is offering three types of trading platforms:
- MetaTrader 4
- MetaTrader 5
- Web Trading
Benefits of MetaTrader 4
- Great User Experience
- Different Languages Support
- Advanced communication tools
- Security and Flexibility
- Real-time market access
- Tools Customization
Benefits of MetaTrader 5
- Excellent User Experience
- Reliable Data Protection
- Different Languages Support
- Compatibility with different devices
- Availability of Netting and hedging positions
Benefits of Web Trading
- Lower Fee
- More Control and Flexibility
- Access to online tools
- Options to monitor investment in real-time
- Best Security
How Many Types of Execution is XM Broker Offering?
According to the official website of XM Broker, they execute 93% of the orders within one second. There are a few orders that they review first and then execute them.
XM broker is offering two types of execution:
Instant Execution
It is a type of forex execution in which “You have to specify the volume and price of your order,” and the order should be processed instantly. If the trading price changes at the time of order placement, a broker cannot change the execution price.
It may or may not go in favor of the client, depending upon different situations and conditions.
Market Execution
Market execution is a type of forex execution in which the client places the order and specifies the volume only. The broker has to buy the order with the current price and can’t request the client for the price change in case of any “Market price changes.”
Leverages/Margins
There are four types of accounts that XM Broker is offering. Have a look at the Leverages/Margins of all the accounts below.
- Micro Account 1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+)
- Standard Account 1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+
- XM Ultra-Low Account 1:1 to 1:888 for ($5 to $20,000) 1:1 to 1:200 for ($20,001 to $100,000) 1:1 to 1:100 for (100,001+)
- Zero Account (No Leverage)
The spread of XM Broker
It’s very important to know the Spread of your account before investing in the forex market. This is why we are listing down the spread of every XM Broker account.
- Micro Account (Spread Starts from 1 pip)
- Standard Account (Spread Starts from 1 pip)
- XM Ultra-Low Account (Spread Starts from 0.6 pips)
- Zero Account (Spread completely depends on underlying exchange)
We have collected the information from the Official Website of the XM Broker.
It’s now time to talk about the “Commissions and Fees.”
Let’s talk about it!
Commissions and Fees
XM Broker is known for providing almost zero Commissions and Fees. Here’s a brief look at the account types of XM Broker.
- Micro Account (No Commission)
- Standard Account (No Commission)
- XM Ultra-Low Account (No Commission)
- Zero Account (They charge a commission)
Customer Services of XM Broker
The customer service is second-to-none and that’s why the traders of XM Broker are pretty happy with the results.
You can contact them by different means such as;
- Phone Number
- Live Chat
More options are available on the official website. You can check the contact options by Clicking Here.
How to open an Account on XM Broker?
Opening the account should be simple and “No-Headache.” If you want to open an account on XM Broker, just follow the instructions given below.
- Head towards the official website of XM Broker or Click Here.
- Once there, click on the Open an Account button.
- It will redirect you to the registration page. Fill in all the information and choose the account type.
- Click on Go to the next step and then claim your bonus.
- You’re done.
If you find account opening difficult, you can contact XM Broker via Live Chat.
How to withdraw Money from XM Broker?
Withdrawing and depositing the money into your account isn’t a difficult task. Just follow the instructions given below.
- Login to your account.
- Click on the withdrawal option from the dashboard.
- Select the payment method. There are hundreds of payment methods available.
- Enter the amount that you want to withdraw or deposit, and fill the form.
- Wait for the XM Broker to review your request.
- They will inform you about your transaction via email and SMS.
If you didn’t receive your money in the bank even after receiving the confirmation email or SMS, contact the team ASAP.
XM Broker vs FXTM
| XM Broker | FXTM.com |
| Overall Ratings: 4.8/10 | Overall Ratings: 4/10 |
| Trust Score: 90 | Trust Score: 70 |
| Founded: 2007 | Founded: 2009 |
| Publicly Traded: No | Publicly Traded: No |
| Bank Transfer: Yes | Bank Transfer: Yes |
| Authorized in EU: Yes | Authorized in EU: Yes |
| ASIC Authorized: Yes | ASIC Authorized: No |
Advantages and Disadvantages
| Advantages | Disadvantages |
| No withdrawal fee. | Inactivity Fee. |
| Account opening is fast and easy. | They have CFDs and Forex Trading available only for Europeans. |
| They have advanced trading tools. | |
| Islamic Accounts are available. | |
| They offer you a bonus on account opening. | |
| They support public trading. |
Bonuses, Contests, and Promotions
They are offering a 15% bonus on account opening. But, you can earn up to $500 as a signup bonus. There are a few conditions that you’ve to look for in order to enjoy the signup bonus.
- You can’t withdraw the signup bonus until you earn some profit from it.
- You can deposit money in order to maximize your bonus.
- The bonus is available only for MT4 and MT5 accounts.
- You’ll get the bonus instantly.
There’s a promotion going on and one can earn up to $1 million from the trading account. They will pick 50 best traders at the beginning of 2021 and then divide the prize money among them.
You can read more about the bonuses, contests, and promotions by Clicking Here. Have any questions in mind? Do let us know in your comments. We love hearing from our readers.
Also Read: Alpari Broker Review | Is Alpari Broker a Scam or Legit Forex?
AvaTrade Broker | A Complete Review
Admiral Markets Broker | Is it a Good Choice?
Now before you go…
If you want to learn how to build a business online and scale it to your dreams and goals? Partner up with me by clicking the banner below:
We will show you EXACTLY how to build a business online, with an implementation plan that is customized just for you.
We will help you choose a niche, setup your online business, and provide offers that you can promote.
Best of all, you will get ONE on ONE mentoring to make sure you are doing things right, and that you stay on track.
