XM Review: Essential Insights for New Traders

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XM is one of the prominent online brokers that has been making waves in the forex trading community, offering robust trading solutions and a supportive environment for its users. 

This forex trading broker review aims to offer valuable insights into XM’s services, unique features, customer support, and performance standards, ensuring you have all the necessary information to assess its suitability for your trading needs.

XM: Overview

XM review

Established: 2009
Headquarters: Belize
Trading Platforms: MetaTrader 4, MetaTrader 5
Mobile Trading: Yes
Minimum Deposit: $5
Account Types: Micro, Standard, XM Ultra Low, Shares

Founded in 2009, XM has established itself as an innovative broker in forex and CFD trading, committed to providing high-quality services to traders worldwide. The firm is built on a foundation of more than 900 professionals, each bringing long-year experience in the financial sector.

XM provides traders with various account types, each tailored to different trading strategies and experience levels. These include Micro, Standard, XM Ultra Low, and Shares accounts, ideal for retail traders. Besides, it provides a comprehensive range of trading instruments. This extensive product portfolio, combined with user-friendly platforms like MetaTrader 4 and MetaTrader 5.

Regulation and Registration

XM broker, operating under XM Global Limited, adheres to strict regulatory standards and is regulated by multiple financial authorities. These include the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission (IFSC) of Belize.

Furthermore, the firm is mindful of its service scope, as it does not provide services to residents of certain countries, including the United States of America, Canada, Israel, and the Islamic Republic of Iran, due to specific regulatory constraints.

Account Types of XM

Account Types

1. Micro Account

  • Minimum Deposit: $5
  • Spread: As low as 1 Pip
  • Commission: None
  • Maximum Leverage: Up to 1000:1

2. Standard Account

  • Minimum Deposit: $5
  • Spread: As low as 1 Pip
  • Commission: None
  • Maximum Leverage: Up to 1000:1

3. XM Ultra Low Account

  • Minimum Deposit: $5
  • Spread: As low as 0.6 Pips
  • Commission: None
  • Maximum Leverage: Up to 1000:1

4. Shares Account

  • Minimum Deposit: $10,000
  • Spread: As per the underlying exchange
  • Commission: Yes
  • Maximum Leverage: No leverage

Deposit and Withdrawal

XM supports a diverse range of payment methods for deposits, including credit and debit cards, bank transfers, and various e-wallets. All deposits made to your account are automatically converted to the base currency of your trading account. For deposits equal to or greater than $200 (or the equivalent in your currency), the firm covers all fees imposed by its bank. 

As for withdrawals, it enables clients to withdraw funds using the same methods available for deposits. Profits or additional funds can be withdrawn using any other available payment method. Additionally, it does not charge any fees on withdrawals, ensuring that clients can access their funds without additional costs. 

Products in XM

Trading Platforms of XM

  • MetaTrader 4
  • MetaTrader 5

Fees of XM

XM broker offers low trading fees across various account types, with distinct fee structures. The Standard, Micro, and Ultra Low accounts have higher spreads but do not charge commissions.

Additionally, XM’s non-trading fees are also low, with no account fees and generally no withdrawal fees, except for a $15 fee on bank withdrawals below $200. There is a $15 maintenance fee after one year of inactivity, followed by a $5 monthly fee if the account remains inactive.

XM Promotions

XM broker offers a variety of promotions for its clients:

  • $30 Trading Bonus: New clients receive a $30 bonus with no deposit required, which is automatically credited and allows for the withdrawal of profits, but the bonus itself is non-withdrawable.
  • Deposit Bonus: XM provides a two-tier bonus on deposits, offering up to $10,500 extra on your investment
  • XM Competitions: Real account holders can win cash prizes and rewards by participating in trading competitions.
  • Refer a Friend Program: Clients earn up to $35 for each referral, with the possibility to earn more for multiple referrals, and all earnings are withdrawable.
  • XM Loyalty Program: This program offers seasonal bonuses and exclusive, invitation-only bonuses several times a year.
  • Free VPS Services: This feature enhances trading by reducing downtime, ideal for EAs, and accessible online 24/7.
  • 0% Fees on Deposits & Withdrawals: XM covers all fees for e-wallets, major credit cards, and wire transfers above 200 USD.

Customer Support 

Pros & Cons

  • Various account types 
  • Strict regulatory adherence 
  • No fees on deposit and most withdrawals
  • Low trading fees
  • Attractive promotions and bonuses
  • Unavailable service in certain countries
  • Inactivity fee after one year
  • Charge $15 fee for bank withdrawals below $200

Pros Explained

  • XM accommodates diverse trading needs by offering a variety of account types including Micro, Standard, Ultra-low, and Shares accounts.
  • Its adherence to regulatory compliance is evidenced by its regulation under authorities like CySEC, ASIC, and IFSC, ensuring a secure trading environment.
  • Traders benefit from no deposit fees. Also, most withdrawals are free of charge, with exceptions in some specific scenarios.
  • It offers a competitive fee structure across different account types, ensuring low trading fees.
  • Clients are offered added value through a variety of promotions and bonuses, such as a $30 trading bonus and loyalty programs.

Cons Explained

  • The services are not available in some countries, including the USA, Canada, Israel, and Iran, limiting its global reach.
  • Inactive accounts are subject to a $15 maintenance fee after one year, followed by a $5 monthly fee.
  • A withdrawal fee of $15 is applied to bank withdrawals below $200, which could be a disadvantage for small-scale traders.

Is XM Worth Considering?


XM is known for its commitment to quality services and backed by a team of over 900 experienced professionals. It offers a range of account types for different trading strategies and experience levels, and provides a wide array of trading instruments. 

Additionally, XM attracts clients with various promotions and a strong customer support system. However, the broker’s reach is limited in some regions, and there are fees associated with inactivity and small bank withdrawals. Overall, XM’s combination of diverse account options, regulatory adherence, low fees, and promotional offerings make it a considerable choice for traders.


1. What is XM?

XM is a well-known online forex and CFD broker, offering various trading accounts, a wide range of instruments, and using popular platforms. It is recognized for its secure trading environment and competitive trading conditions.

2. What types of accounts does XM offer?

XM broker accommodates different trading requirements by offering a variety of account types, including Micro, Standard, XM Ultra Low, and Shares accounts, with most having a minimum deposit requirement as low as $5.

3. Is XM a regulated broker?

Yes, XM operates under XM Global Limited and is regulated by multiple financial authorities, including CySEC, ASIC, and IFSC of Belize. This ensures a secure trading environment.

4. Are there any fees for depositing or withdrawing funds with XM?

XM does not charge any fees for deposits and most withdrawals. However, there is a $15 fee for bank withdrawals below $200, and a $15 maintenance fee after one year of inactivity, followed by a $5 monthly fee.

5. What types of promotions does XM offer?

XM offers various promotions, including $30 Trading Bonus for new clients, Deposit Bonus, XM Competitions, Refer a Friend Program, and XM Loyalty Program.

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