XM Review 2025

Pros

• XM excels in trader education by providing well-organized resources like webinars, tutorials, and live trading sessions via XM Live.
• XM’s Zero account is ideal for trading with spreads from 0.0 pips, 99.35% of orders executed in <1 second, without requotes or rejections.
• XM's customer support has proven reliable, offering 24/5 service in 25 languages, response times under 2 minutes, and a growing Telegram channel.
• XM offers over 1,000 instruments, giving traders various short-term opportunities, including turbo stocks, fractional shares, and thematic indices.

Cons

• The XM global entity is generally reliable and well-regulated but is registered with the less robust IFSC regulator. It no longer accepts UK clients, limiting its market reach.
• XM is lagging because it doesn’t offer cTrader and TradingView, which are now preferred over MetaTrader for their better user interface and charting tools.
• The XM app is user-friendly and offers unique copy trading products, but its technical analysis tools need enhancement for advanced traders.
• XM only uses the MetaTrader platforms for desktop trading, offering no in-house downloadable or web-based solutions with unique features for beginners.

Regulation & Trust

XM has much going for it, but there are some limitations.

Since its launch in 2009, it has gained a strong reputation among traders thanks to its solid regulatory oversight in Australia, Europe, and the Middle East.

It holds licenses from the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), and the Dubai Financial Services Authority (DFSA), which gives confidence in its trustworthiness and safety.

I appreciate that XM offers negative balance protection and keeps client funds segregated, reducing the risk of financial misuse.

However, because it’s a private company, it doesn’t have the same level of transparency as publicly traded brokers like Plus500 or IG.

Another thing to note is that XM is no longer regulated by the Financial Conduct Authority (FCA), so UK traders must go through its affiliate, Trading.com.

Register only through the official XM.com website when signing up since there have been reports of fraudulent entities misusing the XM brand.

XM operates under different regulatory bodies overseeing different regions.

Global clients fall under the Financial Services Commission (FSC) of Belize regulation, which offers fewer protections.

Because of this, the level of security and safeguards varies depending on where you’re trading from.

Leverage also depends on location. With FSC, you can access up to 1:1000 leverage, while ASIC, CySEC, and DFSA-regulated accounts cap it at 1:30.

Accounts & Banking

Live Accounts

XM offers three main account types and allows up to eight accounts, giving plenty of options to match trading needs and budget.

The Ultra Low Micro account is perfect if you want to start small. It requires just $5 to open.

You can trade 0.1 lots with leverage up to 1:1000, benefiting from spreads starting at 0.8 pips with no commissions.

The XM Ultra Low account works well for beginners. It lets you trade as little as 0.01 lots with the same $5 minimum deposit and no commission fees while still enjoying tight spreads from 0.8 pips.

The XM Zero account is best bet if you’re a more serious trader looking for the lowest possible spreads. Spreads start from 0 pips, but this one charges a commission per trade, unlike the other accounts.

For traders following Islamic finance principles, XM offers an Islamic accounts across all its account types. It eliminates overnight interest while ensuring fair fees, making it a solid choice for Sharia-compliant trading.

XM covers a broad range of traders but doesn’t have a dedicated account for high-volume traders like ActivTrades does.

However, its demo accounts are a great way to practice, and it gives $10,000 (or the equivalent in EUR or GBP) in virtual funds.

Signing up is easy—I entered my name and email. To fully activate my account, I had to complete standard Know Your Customer (KYC), which XM typically approves within 24 hours.

Deposits & Withdrawals

XM makes it easy to deposit and withdraw funds with a low minimum deposit of just $5.

Withdrawal minimums depend on the method you choose.

Since XM supports EUR, GBP, USD, and JPY as base currencies, you can avoid the high conversion fees that some platforms, like eToro, might charge.

Bank transfers take longer, but transactions process almost instantly if you use a debit card or digital wallets like Skrill and Neteller.

XM also offers regional local payment options, making funding accounts more convenient.

Deposits are always free, but depending on the method, you might face small withdrawal fees. Debit cards are the most cost-effective way to withdraw funds.

While XM provides flexible payment options, it does have some limitations.

The selection of base currencies is somewhat restricted compared to other brokers we’ve tested.

I also noticed no two-factor authentication for extra security when logging in.

Additionally, some payment methods aren’t available in certain regions, which might be inconvenient depending on where you’re trading from.

Assets & Markets

XM gives access to over 1,000 instruments across forex, stocks, and indices, making it a solid choice if you focus on these key markets.

I noticed that XM doesn’t include bonds or ETFs, which limits the ability to diversify into those markets.

It also doesn’t pay interest on uninvested cash, so you miss out on passive income opportunities compared to eToro and Interactive Brokers.

However, its mobile app stands out with a copy trading feature. It also includes popular crypto pairs like BTC/USD and ETH/USD, which add some flexibility to trading.

Regarding tradable instruments, XM holds its own in several areas.

It offers over 55 currency pairs, competing well with major brokers, though OANDA provides a few more.

For stocks, you get access to more than 1,200 commission-free CFDs covering major global companies, but IG and CMC Markets still offer a wider selection.

XM’s commodities include more than eight options, such as cocoa and wheat, though brokers like Exness provide broader choices.

Equity indices are another strength, with over 30 index CFDs covering major benchmarks like the FTSE 100 and S&P 500.

Thematic indices, such as those focused on artificial intelligence and electric vehicles, bring unique opportunities, though they don’t go as deep as eToro’s offerings.

Precious metals, including gold, silver, platinum, and palladium, are available, but XTB offers an even broader selection.

XM’s commodities also give options to trade based on global economic trends.

Fees & Costs

XM offers competitive pricing, although brokers like IC Markets often beat it on costs in our tests.

The Ultra Low Micro and XM Ultra Low accounts give commission-free trading, with spreads starting at 0.8 pips.

If you’re looking for the lowest possible spreads, the XM Zero account is ideal. It offers raw spreads from 0.0 pips, though there’s a $3.50 commission per lot per trade.

Most of the payment methods XM offers have no deposit or withdrawal fees, which helps keep costs down.

However, if you use a currency XM doesn’t support, you might face conversion fees.

XM also charges a $15 fee after a period of inactivity, discouraging casual traders from leaving accounts dormant for too long.

If you’re concerned about inactivity fees, you could always consider Vantage, which doesn’t charge them.

Platforms & Tools

XM offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, available on desktop and mobile.

MT4 keeps things simple with over 60 technical analysis tools, while MT5 steps it up with more advanced features, including over 80 tools, additional order types, and the ability to trade more asset classes, such as stocks and cryptocurrencies.

Both platforms sync seamlessly across devices, and you can also use the WebTrader versions if you prefer a browser-based solution.

XM’s WebTrader platforms provide convenient, browser-based trading

One feature I appreciate is the free VPS for automated trading, provided I meet the account balance and volume criteria.

If I don’t meet those criteria, there’s a $28 monthly fee, but it’s still an excellent option for automating trades.

The MultiTerminal feature is fantastic for managing multiple accounts.

However, the lack of a proprietary platform could be a downside for beginners who prefer something more straightforward.

One thing I do miss is the absence of platforms like cTrader and TradingView, which are really popular with active traders.

While the XM mobile app is user-friendly, it doesn’t have all the advanced technical tools you might want.

On the plus side, it supports copy trading and is available for iOS and Android.

Research

XM is a solid option for beginner traders. It offers a range of research tools that really help improve trading skills and market knowledge.

The daily market analysis gives insights into financial markets and key economic events, which helps me stay on top of major market trends—something I know is crucial for success.

XM’s technical and fundamental analysis reports explain market movements in a way that’s easy to understand.

This makes it easier to grasp price changes and spot potential trading opportunities.

XM’s in-house technical analysis provides valuable insights into price movements

I also find the insights from Trading Central valuable, especially for short-term trades.

Plus, the economic calendar keeps me updated on the events that can cause market volatility, which is perfect for executing fast-paced strategies.

While XM does a great job covering the forex market through its in-depth asset reports and articles, there’s room for improvement.

Additionally, it would be great if Trading Central were integrated into the app, which could enhance the overall trading experience.

Education

XM has very good education resources for registered users. I’ve found many tutorials, articles, and videos on trading basics, technical analysis, and risk management.

The live webinars and seminars are particularly beneficial. They’re conducted in 23 languages by 77 experts and offer an engaging way to learn directly from experienced traders.

I also enjoy the client-exclusive webinars and podcasts, which interactively dive into diverse strategies and tools.

XM’s educational videos cover essential trading concepts and strategies

That said, XM’s educational offerings could benefit a bit more depth, especially compared to brokers like IG, who provide more structured courses.

Seeing more interactive tutorials with progress tracking and quizzes would make learning more engaging.

A glossary of terms would also be helpful to simplify all the trading jargon.

Customer Support

XM offers 24/5 support through live chat, email, and phone in Cyprus and Australia.

Its multilingual support, spanning 25 languages, is a huge plus, especially for global traders who prefer assistance in their language.

I’ve used live chat for quick questions, like when I needed clarification on account differences, and I found the reps to be prompt and clear in their responses.

Emailing for more detailed queries has also worked well for me. I once got a thorough response about changing leverage, and the instructions were easy to follow.

While XM doesn’t have a local phone number or a call-back feature like ActivTrades, I like that it’s building a community on Telegram through its Singapore hub, which is a nice touch.

The support team is consistently responsive, professional, and always ready to ensure a smooth trading experience.

However, one downside is that live chat isn’t available during non-market hours, and not all reps are fluent in English, occasionally leading to frustration.

Should You Trade With XM?

XM is a broker that works well for both new and experienced traders.

It supports the popular MT4 and MT5 platforms, offers competitive fees, and provides great educational resources and solid customer support.

What stands out about XM is its commitment to transparency and security.

The variety of instruments and flexible accounts, such as the Zero account with spreads starting at 0.0 pips, is definitely appealing, especially for active traders.

That being said, XM doesn’t offer the ability to invest in real assets, like cryptocurrencies.

Additionally, unlike brokers like IG or AvaTrade, it doesn’t have its own proprietary desktop or web platform, which could be a downside for some traders who prefer everything in one place.

Article Sources

• XM Website
• Australian Securities and Investments Commission (ASIC)
• Cyprus Securities and Exchange Commission (CySEC)
• Dubai Financial Services Authority (DFSA)
• Financial Services Commission (FSC)
• Trading.com

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