74

score

5 reviews

Score

Trade Pricing
7.6
          
Support
7.2
          
Execution Accuracy
7.4
          
Platform Experience
7.8
          
Education
7.6
          
Company Reliability
7.2
          

Features

Spread
Variable
Commission
No
US Trader
No
Personal account manager
Yes
microlot (0,01 lot):
Yes
Type of Broker
Market Maker
Asset
130
Min. Deposit
10
Leverage
1:888

Trader Type

Professionals
Beginners

Platforms

MT5
Proprietary Platform
MT4
Android
iOS
Web Trader

Supported Instruments

Forex
Commodities
Stocks
Indices
CFDs

Trading type

Scalping
Day Trading
Swing Trading
Weekly Trading
Hedging

Description XM

The XM Group was funded on  2009 at Cyprus and the property has been recently transferred to the company “Trading Point of Financial Instruments UK Limited” moving the site from Cyprus to London. Now it's regulated by the english FCA  (license n° 705428). It's one of the most publicized on the web and the marketing is its main weapon.

XM offers a large assortment of services boosted in a significant marketing plan, we can group in this list:

  • Minimum deposit  $5
  • no requote and no order refuse
  • 10 payment methods
  • Leverage up to 500:1
  • 24 Hour Support in 23 languages
  • Phone Trading

As for many broker, low spreads aee publicized but in reality they are a little higher than the average of the other top brokers, in fact the average of the 10 major forex currencies is about 2 pips. This higher cost can be justified due to the large quantity of free services this broker offers to its clientele.

XM provides 3 different accounts: Micro, Standard, Zero Account . The first two are almost identical and have variable spreads but 0 commissions and  $5 as minimum initial deposit, while the third which works only on currencies with EUR and USD, has commissions but 0 spreads, and the minimum deposit is  $100.  

The company places  private clients's money  on a bank account which is separated from the society one. In case of insolvency by the society itself , any potential company debts can't be paid  through clients's  funds.

Account

XM provides 3 different types of account to choose: -Micro with minimum deposit of 5$,maximum leverage 1:500,  minimum trade volume 0,1 lots and spread from 1 pip -Standard with minimum trade volume  0,01 lotti- Conto Zero XM with spread from 0 pip  and minimum deposit of 100$


Description Promo

Xm offers a quadruple bonus, 25€ free for users who subscribe to the broker + 50% as bonus on the first deposit up to $500 + 20% as bonus for deposits up to 4.500$ and a fidelity programm with which XM offers the opportunity during the year to join special seasonal bonus


Conclusion

Xm is one of the most famous broker in the world thanks to a well studied marketing plan developed through a large advertising campaign. The quantity of offered and publicized services is very significant but all of this costs in terms of spreads that even if they aren't exorbitant , they are still higher than those of the top brokers. For beginners this difference of costs could seem easy to underestimate but in long terms it could damage the profits in the face of so much advertising and so many services not really useful.


Only real reviews!

The review form is accesible only for user with a broker account verified.

erich.leannon

2019-08-17 Score: 8 | #450

"I opened my first live account and I'm a bit disappointed; customer staff is one of the best I ever talked to but that's all I can think about as positive aspect"

amoen

2019-08-16 Score: 7 | #446

My opinion on this broker is that they are almost sufficient.

caden.weimann

2019-07-11 Score: 8 | #468

When you pass from the demo account to the real one and still feel there's no difference? that's fantastic! This is the first time I use my live account and it actually works the same way the demo did! This broker won't be a hindrance to your success.

rosie.blick

2019-06-30 Score: 7 | #452

intuitive platform but the prices don't correspond to those on MT4 and this sometimes made me change strategies and give up on opening trades.

novella.pfeffer

2019-06-16 Score: 7 | #448

Customer care is quick to answer but not so professional.