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XM REVIEW

Is XM one of the best Australian Forex Brokers? We conducted an in-depth review in October 2019 to find out the answer and bring it to you!


Founded in 2009 and a member of the Trading Point Group, XM has grown to become a true industry leader within the Forex Market scene, employing more than 180 professionals who have many years of experience in the financial industry.  With over one million clients in 196 countries around the globe, XM supports more than 30 languages and hosts a large number of free seminars in several countries every year.

ASIC and CySEC regulated, FCA (UK)-registered, XM Group has its main offices in Limassol, Cyprus, and operates many partnerships worldwide. Over the years, XM has won multiple industry awards and accolades and is the proud sponsor of the Olympic and World Champion Usain Bolt.


💻 Trading PlatformMetaTrader
🏢 Head OfficeLimassol, Cyprus
📅 Founded2009
⭐ Reviews4.0 - 40 Reviews Trust Pilot
↔ Maximum Leverage500:1
🖥 Execution Servers LD5
📡 Broker TypeMarket Maker
💰 Negative ProtectionNo
📊 Trading OptionsForex, CFDs, Crypto

OUR RATING: 7.7
The overall raiting is based on review by our experts
👌 Reliability: 8 / 10 📈 Spread: 7 / 10
🞧 Offers: 8 / 10🚅 Speed of Execution: 8 / 10
📧 Customer Service: 7 / 10👍 Uptime: 8 / 10
Trading Conditions
Max Leverage:500:1
Platform:
Min Deposit:$5
Spread:From 0.6 Pips
Cuts out Dealing Desk:Yes
Methods of deposit and offers
Deposit / Withdraw:
Welcome offer:Up to $5,000 bonus
Rebates Engine Forex:Coming soon!

SECURITY, MARGINS AND TECHNOLOGY

SECURITY AT XM

In Summary

  • ASIC regulated
  • High-level web security
  • FCA licensed
  • No dealing-desk intervention

With a strong global market presence, XM takes security very seriously. Authorised and regulated by the Australian Securities and Investment Commission (ASIC), it ensures all client money is held safely in segregated client trust accounts.

With main offices in London, Trading Point of Financial Instruments Ltd (XM UK) is incorporated in England and Wales and regulated by the Financial Conduct Authority of the UK.

XM advertises itself as being a ‘Big. Fair. Human.’ broker, offering 25 secure payment options. Its motto ‘Fair, Trustworthy and Dependable’ highlights its commitment to putting its clients and their money first, and it offers a strict no re-quotes and no rejections policy.

All clients benefit from a standard negative balance protection, so they are never at risk of losing more than their account balance.

XM advertises itself as being a ‘Big. Fair. Human.’ broker, offering 25 secure payment options. Its motto ‘Fair, Trustworthy and Dependable’ highlights its commitment to putting its clients and their money first, and it offers a strict no re-quotes and no rejections policy.

Spreads Comparison

XM
70
PEPPERSTONE
100
THINK MARKETS
80
OANDA
60
IC MARKETS
100
eTORO
60

CHARGES AND MARGINS AT XM

In Summary

  • Spread mark-up
  • No commissions
  • Spreads from 0.6 pips
  • Up to 500:1 leverage

As with many other brokers, XM's rule is that while customers pay a commission in the form of a spread for CFDs, they do not incur any additional costs. Compensation therefore only takes the form of a "spread mark-up" (Market Maker model).

XM Group offers 3 different Forex account options: Micro Account, Standard Account and XM Zero Account.

Minimum spreads start with Micro and Standard Accounts at 1 pip and with an XM Zero Account from 0.0 pips for example on the popular EUR/USD pair.

The minimum deposit requirement is $5 for the Standard and Micro account and $100 with the Zero Account option.

TECHNOLOGY

In Summary

  • Great trade execution
  • MT4 & 5
  • VPS available
  • Mobile trading
XM was the pioneer of the no re-quotes and no rejection of orders policy, which it brought into force in 2010. It offers 100% execution of orders with 99.35% of all orders executed in less than 1 second.

XM pioneered the offering of an MT4 platform with trading execution quality in mind. Users can trade on MT4 with no requotes, no rejections and flexible leverage ranging from 1:1 to 500:1.

Other special features for XM’s take on the original MT4 trading platform include the ability for users to access eight platforms with one single login or set up micro lot trading accounts. Traders have access to more than 300 trading instruments with spreads as low as 0.0 pips.

In addition to the traditional MetaTrader 4 (MT4) platform, XM gives its clients the option to make use of the more recent MataTrader 5 (MT5) platform, which offers everything that is available on XM’s MT4 platform plus 180 additional equity indices CFDs, making XM MT5 an ideal multi-asset platform.   

Mobile trading is available for Android and iOS (Mac), iPhone and iPad devices as well as the browser-based Webtrader.

Technical analysis and risk management tools, as well as Expert Advisors (EA) for automated, strategic trading are also available.

XM was the pioneer of the no re-quotes and no rejection of orders policy, which it brought into force in 2010. It offers 100% execution of orders with 99.35% of all orders executed in less than 1 second.

XM’s trading platforms support market, stop loss, limit and trailing stop orders. Clients can also place orders via telephone and speak directly to one of XM’s dealers.

Especially ideal for Expert Advisors (EAs), XM offers a free VPS service that gives qualifying clients the ability to make the most of XM’s unparalleled execution without having to worry about other factors that can impede the ability to trade effectively such as Internet connection speeds, computer failure, or power cuts. Clients who do not meet the minimum equity requirement of USD 5,000 can still request a VPS for a USD 28 monthly fee.

Execution of Speed Comparison

XM
90
PEPPERSTONE
100
THINK MARKETS
90
OANDA
80
IC MARKETS
100
eTORO
90

CUSTOMER SERVICE, TRADING OPTIONS AND SPECIAL FEATURES

AN OVERVIEW OF XM's CUSTOMER SERVICE AND CLIENTS

In Summary

  • 24/5 customer support
  • Global presence with large client base
  • 3 account types to choose from
  • Swap free account option (Islamic Shariah compliant)

XM has clients all over the globe and offers great customer support 24/5 through live chat, email and phone. Users can also access help via the help and FAQ sections of XM’s website.

XM supports more than 30 languages and 25 secure payment methods, including credit cards, debit cards, Neteller, Skrill and bank wire transfers.

All three types of accounts can set a maximum leverage of up to 500:1. The minimum deposit is $ 5 for Micro and Standard accounts and $ 50 for an XM Ultra Low account.

Customers can choose between 11 different base currencies (AUD, USD, EUR, GBP, JPY, CHF, HUF, PLN, RUB, SGD, ZAR) when trading on a standard or micro account, but only four (USD, EUR GBP and AUD) with an XM Ultra Low account.

All account types can be set to be Shariah compliant (Swap-free Islamic account) and a demo account is available for testing the waters.

Apart from a good selection of currency pairs and commodities, XM also offers a decent range of indices from around the globe to choose from, including the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500 and US DJIA Index.

In total, more than 300 currencies, indices, commodities and shares can be traded with any XM trading account.

XM trading conditions are very decent and benefit traders of all levels.

Training and educational materials such as webinars and tutorials are available on xm.com.

From time to time, XM also runs a loyalty program and special promotions such as deposit bonus or rebates.

FOREX AND OTHER TRADING OPTIONS AT XM

In Summary

  • 55+ currency pairs
  • 5 cryptocurrencies
  • Stocks, metals & energies
  • 18 indices CFDs

XM offers 55+ currency pairs, 2 precious metals, 5 cryptocurrencies (including Bitcoin, Ethereum, Ripple's XRP, Litecoin and Dash), 5 energies, 8 commodities, 17 indices CFDs and a large selection of stocks.

Traders can choose to trade the options mentioned above on some of the world’s top markets such as the Australian S&P 200 Index, UK FTSE 100 Index, US E-mini S&P 500, US DJIA Index, Germany 30 and Hong Kong 50.

XM offers maximum leverage of up to 500:1, 11 different funding currencies, micro-lot trading starting from 0.01 lots and low spreads starting from 0.6 pips. Clients can start trading with minimum deposits of just $5.

Commissions per standard lot are only applied on the XM Zero Account, which is the only ECN type account on offer where XM doesn't act as a market maker.

SPECIAL FEATURES OF XM

In Summary

  • Top-notch technology including unique MT4 & 5 features
  • Very tight spreads & leverage up to 500:1
  •  VPS offering

More than 300 trading tools, low spreads (from 0.6 pips) and flexible leverage ranging from 1:1 through to 500:1.

Top-notch technology including unique XM MetaTrader 4 and XM MetaTrader 5 features that also allow for multi-asset allocation.

Fast connectivity and a no re-quotes and no rejection of orders policy since 2010. In addition, 99.35% of all orders are executed in less than one second.

XM’s trading platforms further support market, stop, limit and trailing stop orders.

New clients receive a free $30 bonus upon opening their first real trading account. This bonus cannot be withdrawn but any profits that are earned with it can.

In addition, apart from XM’s Zero account holders, which are exempt from this reward, clients receive a 50% up to $500 plus 20% up to $5,000 bonus on their first deposit into their account.

Trading on an XM real account gives traders the ability to earn credit bonuses when converting XM Points that are awarded on every lot traded. Additionally, XM offers its clients seasonal trading bonuses that are available for very limited periods of time, and highly exclusive trading bonuses that are available on an invitation-only basis. Get in touch with XM’s customer support team to find out about all details.

A free VPS service with optical fiber connectivity is offered to clients that maintain a minimum of USD 5,000 (equity) or equivalent in other currencies. Clients who do not meet this requirement can still request a VPS with XM for a monthly fee of USD 28.

Fast connectivity and a no re-quotes and no rejection of orders policy since 2010. In addition, 99.35% of all orders are executed in less than one second.

Max Leverage Comparison

XM
500:1
THINK MARKETS
400:1
PEPPERSTONE
500:1
OANDA
100:1
IC MARKETS
500:1
eTORO
400:1

IN CONCLUSION

XM is one of Australia's leading online Forex brokers providing an exclusive trading environment, top-notch technology features and great trading conditions. Spreads are tight and leverage of up to 500:1 can be selected. XM offers a large selection of 1000+ tradable instruments, including 5 cryptocurrencies. The XM Group is considered one of the best Forex providers and online brokers on the market.