Is XM Good?: The Review of XM Pros and Cons [Summary of Overview Information from Real Trading Experiences]

Important Details of XM Broker
Broker Name XM
Year of Establishment 2009
Regulatory Organization IFSC, CySec, ASIC and FCA
Minimum Deposit $5
Deposit and Withdrawal Speed Deposit: Immediate, Withdrawal: 40 Minutes waiting time
Deposit and Withdrawal Rate  -0.81%
Leverage Maximum 1:888
Platform MT4, MT5, WebTrader


XM is ranked 2nd in The Best Forex Broker Ranking 2022

XM Information

Year of Establishment: 2009

Head Office

XM’s Head Office is located in Cyprus

Address: Richard I & Berengaria of Navarre, Limassol 3042, Cyprus

Trading Products

  • Forex:
  • Gold:
  • Petroleum:
  • Index:
  • Cryptocurrency: –
  • Stock:
  • Other Commodities:
  • Bond: –

XM Broker Type

XM is a Dealing Desk Broker

XM is classified as a Market Maker as it has a Dealing Desk that is used to execute orders over the phone, but customers’ orders (positions) are processed through various Liquidity providers.

XM Bonuses

Free $30 bonus, no deposit required.

  • No deposit required
  • Added to your account automatically
  • All profits earned can be withdrawn
  • Suitable for new customers
  • Non-withdrawable bonuses
  • View the $30 bonus terms and conditions (Click)

Terms and conditions for trading profits withdrawal with $30 free bonus

  1. Make a profit of at least $5 (not including the $30 bonus)
  2. Open-close at least 5 orders
  3. Total lots in the trading are greater than or equal to 0.1 Standard lots

50% and 20% deposit bonuses

  • 50% deposit bonus during the first 1000 USD deposit
  • Deposit over 1000 USD will receive a 20% bonus

50% and 20% deposit bonus details (Click)

Contact Details


Trading Platform

  • MT4 : Windows, Android, iOS and Mac
  • MT5 : Windows, Android, iOS and Mac
  • WebTrader

xm review

xm logo

The $30 free bonus with no deposit required is regarded as the hallmark of XM that attracts traders well because no deposit is required and is able to withdraw profits.

Additionally, very low spreads on the XM Ultra Low Standard account with a minimum deposit of only 50 USD, highly ideal for day trade and scalping traders.

The disadvantage of XM is that if you do not trade continuously for 90 days, your account will be canceled, and is in need of identity reverification

XM is ranked the 2nd in The Best Forex Broker Ranking 2022


$30 free bonus with no deposit

For new customers who have just opened an account with XM for the first time.
Easy leverage change

Easy leverage change

XM quickly changes leverage (no confirmation required)

Fast and fluid trading

Overall server is fast, smooth, not delayed

XM is ranked the 2nd in the Forex broker rating for traders with the best trading experience. (Click to see details)

Narrow spread
  • Especially for the XM Ultra Low Standard account
  • Average spread
    • EURUSD 9 pips
    • USDJPY 9 pips
    • GBPUSD 12 pips
High reliability

XM is ranked 1st in the title of The Most Trusted Forex Broker in the World (Click to see details).

World famous

XM is ranked 2nd in the Most Popular Reputation Broker Ranking (Click to see details).

Live chat responds quickly
  • Support staff (Live chat) provide relatively good services, answer questions quickly and clearly, and are able to resolve problems to the point, with a sensing of sincerity
  • XM is ranked the 2nd among Forex brokers for best services (click to see details).
Many bonuses and promotions
  • $30 trading bonus
  • Deposit bonus upto $5,000


No trading activities for 90 days, the account will be canceled.
  • No trade within 90 days. If there is “no deposit” in the day account, the account will be canceled and the identity must be reverified.
  • No trade within 90 days. If there is “deposit” in the day account, it will be deducted 5 USD per month until the account is depleted and later is canceled.
High Swap Fee

Suitable for day trade (because swap fee is very high, should not hold across several days)

Having no Copy trade system

For XM, the Copytrade system is not yet available for services.

Is XM service fee high or low? (SPREAD, COMMISSION, SWAP)

The account types of XM do not charge commission fees. Of which, we highly recommend the “Ultra Low Standard” account with a relatively narrow spread. In addition, the minimum deposit is only 50 USD, so it is a very worthwhile account to trade. Especially for traders who trade short-term or scalping would be ideal.

Swap fee is slightly high.

Examples of spreads of XM – Micro, Standard, Ultra Low Micro and Ultra Low Standard.

Average Spread over 7 major currency pairs of XM

xm avg spread

Swap Fee over major currency pairs of XM


Commission Fee of each type of XM account

  • Micro: No Commission Fee
  • Standard: No Commission Fee
  • Ultra Low Micro: No Commission Fee
  • Ultra Low Standard: No Commission Fee

Is XM reliable and reputable?

XM is operating under its parent company called Trading Point, which holds 13 licenses (both FCA and ASIC are included). Trading Point owns both (global service) and (Focus on traders within Europe)

With its continuous development, XM has been able to build a global customer base. (Especially the 30 USD free bonus is considered a magnet for attracting customers).

In addition, Linkedin data shows that there are over 1,353 verified employees working at XM, indicating that XM is a large organization.

Year of Establishment: 2009

XM is a subsidiary of Trading Point Holdings Ltd.

In which Trading Point Holdings Ltd. is the owner of two broker companies which are: 

  1. XM

License Certificate (Regulator)

XM Group Licenses

1. IFSC (International Financial Services Commission) : Belize

xm ifsc

2. CySec (Cyprus Securities and Exchange Commission)

3. ASIC (Australian Securities and Investments Commission)

4. FCA (Financial Conduct Authority)

Additional Licenses of Trading Point of Financial Instruments Ltd. 

  • BaFin Bundesanstalt für Finanzdienstleistungsaufsicht (Germany) under registration number 124161
  • CNMV Comisión Nacional del Mercado de Valores (Spain) under registration number 2774
  • AFM Autoriteit Financiële Markten (Netherlands)
  • FI Finansinspektionen (Sweden)
  • FIN Finanssivalvonta Finansinspektionen (Finland)
  • MNB Magyar Nemzeti Bank (Hungary) under registration number 538324
  • CONSOB : Commissione Nazionale per la Società e la Borsa (Italy) under registration number 3046
  • ACP Autorité de Contró Prudentiel (France) under registration number 73640
  • KNF Komisja Nadzoru Finansowego (Poland)

Head Office

XM’s Head Office is located in Cyprus

Address: Richard I & Berengaria of Navarre, Limassol 3042, Cyprus

Employee Number: 201-500 persons

(A total of 1,371 employees are active on LinkedIn)

Customer capital protection:

Customers’ funds will be transferred to the company’s customer separate bank account. These funds are not on the balance sheet and cannot be used to settle debt in the event of corporate bankruptcy.


*** We have detected a Website called which looks very similar to

*** By which the Live chat informs that “XM TRADING or (Tradexfin Limited) is not affiliated with”

*** In which holds a FSA (Seychelles Financial Services Authority) License, License Certificate Number: SD010.

***The support informs us that they are different companies but!! using the same Live chat system, that is, when logging into Live chat in, the support staff would be of the same set as*** (Waiting for clarification from and


Is and the same company?

Answer: No, in which earlier used to be part of the Xm Group, while now it’s separate.

Using the same Live chat system?

Answer: Due to the fact that the system of is the same as that of in almost any means. Showing the same responses means that the cache and cookies have not been removed yet.

xmtrading xm

Comment from our team: We think this issue is very confusing to customers, both companies should solve this problem, one way or another.

We provide more credit to because XM has been reputed as, not In addition, the licenses of are more and are rather more reliable.

To what extent does XM become popular with traders all over the world ?

Although the rating and number of reviews on Trustpilot may be low. But, looking at the Forex Peace Army and myfxbook sections, the number of people accessing to review XM is of the top rank.

As for social media like Facebook, XM broker has more than 1 million likes on the page.

XM Reputation

35% : Forex Peace Army [Score : 3.018 | 627 Reviews]
25% : Trustpilot [Score : 2.9 | 126 Reviews]
25% : myfxbook [Score : 3.6 | Total Votes : 425]
2.5% : Google Review [Score : 4.7 | 41 Reviews]
2.5% : Facebook [1M like this]
2.5% : Intragram [25.2K Followers]
2.5% : Twitter [40K Follows]
2.5% : Youtube [43.1K subscribers]
2.5% : Linkedin [12,778 followers]

XM Services

Starting from the application process to real trading is quite easy, simple and not complicated at all.

Support staff responded to questions quickly, clearly, and relevantly.

Small problem detected: if you do not trade for 90 minutes, you will have to re-verify your identity.

If you do not trade within 90 days, and if there is “no deposit” in the account, the account will be canceled and the identity must be reverified.

If you do not trade within 90 days, and if there is “deposit” in the day account, it will be deducted 5 USD per month until the account is depleted and later is canceled.

XM quickly changes leverage (no complicated confirmation)

Proceeding a withdrawal request, information will be sent to third parties including payment providers, banks, card systems, regulators, law enforcement, government officials, credit data centers and other groups the broker sees necessary for payment processing and/ or verification of the trader’s identity

The process of account opening, deposit, and trading is quite easy and simple.

The staff provide good service, come in to answer quickly, clearly and relevantly, and be pertinent to the point.

Live chat 

XM support staff are available for service in upto 18 languages, in almost all countries all over the world.

Live chat :

xm live chat

Tel: +501 223-6696 (It is the Head Office’s number in Belize) 

Email : [email protected]

XM Trading Experiences

The recommended account is Ultra low because of the narrowest spread, it is very suitable for day trading or scalping type because the spread is low, however, the swap fee is high, so it is not suitable to hold across several days.

Apichart T.

Fast order execution, smooth trading for both Micro, Standard, Ultra Low Micro and Ultra Low Standard accounts, just like using the exact same server and the same set of trading knowledge.

I recommend opening Ultra Low-type accounts as Spread is much lower.

Attawat Rx

There is no requote, recommend the “XM Ultra Low” account as the overall fee is of the lowest. As for the speed of opening-closing order and stability of the server for each account type, they are not significantly different.

Sila T.

The service is excellent, the speed of the XM broker is considered to respond well with big traders, having no cheating issues. Although the trading cost is higher when compared to Exness (but considerably better than other brokers).

Yoya Yoshida

Very fast opening and closing orders, probably because XM does not send orders directly to the market, it is more of internal matchings.

Parichat B.

Suitable for day trade because the spread is low (but swap is very high, should not hold for several days)

Uaiporn R.

Do not trade for long because swap fee is found to be negative, both buy and sell are more than 90% negative.

XM Conclusion

XM is ranked 2nd in The Best Forex Broker Ranking 2022


Writer : Yoda Yoshida

  • Position : Editor
  • Biography : Former waiter to professional traders
  • Experience : 20 years in the Forex industry
  • Goal : To select the best broker for traders.
  • Short greetings : Some things take time to grow.
  • Full biography of the writer, Click >

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