71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

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XM Group Review

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Since it was founded in 2009, XM Group has grown to become one of the largest and well-established investment firms with more than 1,500,000 clients worldwide.

XM Group provides support for more than 30 languages, while it aims for 99.35% of all its trading orders to be executed in less than one second, with no re-quotes and no rejections.

With clients from more than 190 countries, XM Group offers a range of services including currency trading, CFDs, equity indices, precious metals, and energies. There are also more than 25+ secure payment methods available to traders, across 16 full feature trading platforms.

XM Group is a group of online regulated brokers. Trading Point of Financial Instruments Ltd was established in 2009 in Limassol, Cyprus and is regulated by CySEC with license number 120/10. Trading Point of Financial Instruments Pty Ltd was established in 2015 in Sydney, Australia and is regulated by ASIC with license number 443670. Trading Point of Financial Instruments UK Ltd was established in 2016 in London, United Kingdom and is regulated by FCA with license number 705428.

Pros

  • Used by 700,000+ traders
  • Established in 2009
  • Regulated by Financial Conduct Authority, CySEC, and ASIC
  • Min. deposit from $5

Cons

To open a live account, you’ll need a minimum deposit of at least $5. Alternatively, XM Group offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by the Financial Conduct Authority, UK (FRN: 705428), CySEC (Licence: 120/10), and ASIC (AFSL #443670). XM Group puts all client funds in a segregated bank account and uses tier-1 banks for this. XM Group has been established since 2009, and have a head office in Cyprus, Australia, and United Kingdom..

Before we dive into some of the more detailed aspects of XM Group ’s spreads, fees, platforms and trading features, you may want to open XM Group ’s website in a new tab by clicking the button below in order to see the latest information directly from XM Group.

Visit XM Group

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

XM Group screenshot Open a demo account

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

What are XM Group's spreads & fees?

Like most brokers, XM Group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on XM Group’s website. The colour bars show how competitive XM Group' spreads are in comparison to other popular brokers featured on BrokerNotes.

XM Group
EUR/USD (Average: 0.7 pips) 0.1 pips + $10.00 0.7 pips 0.1 pips
GBP/USD (Average: 1.1 pips) 0.1 pips + $10.00 1.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) 0.1 pips + $10.00 0.6 pips 0.1 pips
AUD/USD (Average: 0.8 pips) 0.2 pips + $10.00 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) 0.2 pips + $10.00 2.3 pips 0.2 pips
USD/CAD (Average: 2.9 pips) 0.2 pips + $10.00 0.5 pips 0.3 pips
NZD/USD (Average: 3.6 pips) 0.3 pips + $10.00 2.8 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) 0.2 pips + $10.00 0.5 pips 0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, XM Group’s minimum spread for trading EUR/USD is 0.1 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with XM Group vs. similar brokers.

See all Spreads

How much does XM Group charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with XM Group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $9.85. Here’s a rough breakdown of the fees and how this compares against IG & Forex.com .

XM Group IG Forex.com
Spread from: $ 1.00 $ 6.00 $ 10.00
Commission: $0.00 $0.00 $0.00
Total cost of a 100k trade: $ 1.00 $ 6.00 $ 10.00
$5 more $9 more
Visit XM Group Visit IG Visit Forex.com

All fees/prices are for informational purposes and are subject to change.

General Fees

  • XM Group does charge inactivity fees
  • XM Group doesn’t charge withdrawal fees*

Commissions

  • XM Group doesn’t charge commission on CFD shares

What can you trade with XM Group?

XM Group offers over 261 different instruments to trade, including over 55 currency pairs. We’ve summarised all of the different types of instruments offered by XM Group below, along with the instruments offered by IG and Forex.com for comparison.

FX / Currencies XM Group IG Forex.com
# of forex pairs offered 55 90 80
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes Yes
Exotic forex pairs Yes Yes Yes
Cryptocurrencies Yes Yes Yes
Commodity CFDs XM Group IG Forex.com
# of commodities offered 15 34 12
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs XM Group IG Forex.com
# of Stocks offered 160 8000 220
UK Shares No Yes Yes
US Shares No Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See XM Group's InstrumentsSee IG's InstrumentsSee Forex.com's Instruments

What’s the XM Group trading experience like?

1) Platforms and apps

XM Group is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. The combination of downloadable platforms for both Mac and Windows allows traders to trade with their device of choice.

XM Group Screenshot

XM Group also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See XM Group 's platforms

Trading Features:

  • Allows scalping
  • Allows hedging
  • Low min deposit
  • Offers Negative Balance Protection

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

XM Group allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. XM Group allows you to execute a maximum trade of 50 Lot.

As a market maker, XM Group may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.

As a nice bonus, XM Group are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at ).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

XM Group also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by XM Group here.

Finally, we’ve listed some of the popular funding methods that XM Group offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller

3) Client support

XM Group support a wide range of languages including Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish.

XM Group has a BrokerNotes double AA support rating because XM Group offer over three languages

4) What you’ll need to open an account with XM Group

As XM Group is regulated by Financial Conduct Authority, CySEC, and ASIC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore XM Group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with XM Group you can visit their website here.

A Review & Guide to Trading with XM

XM Group is a group of online regulated brokers. Trading Point of Financial Instruments Ltd was established in Limassol, Cyprus and is regulated by CySEC with license number 120/10. Trading Point of Financial Instruments Pty Ltd was established in Sydney, Australia and is regulated by ASIC with license number 443670. Trading Point of Financial Instruments UK Ltd was established in London, United Kingdom and is regulated by FCA with license number 705428. Let us take a quick look at some of the basic features of this platform which are important to note when considering XM as an online broker.

Trading Systems

XM offer a variety of trading platforms, including Web Trader, MT4 and MT5. Web Trader is excellent due to the fact that a client can access real-time market information directly through the website without having the need to download any software. This is ideal for those with limited hard disk space or who wish to access their account through a smartphone.

MetaTrader 4 is one of the most popular systems currently in place. Not only are all prices and movements clear, but its user-friendly nature will vastly increase the performance of any trader. It should be noted that both manual and automatic trading options are available through MetaTrader 4.

Types of Accounts

The first level of trading account is known as their Micro trading account, which can be opened with $5. This is aimed at those who are learning the forex markets and wish to trade micro lots.

XM Group’s standard trading account represents the next level up. As the name suggests, this is the type that is primarily used by seasoned traders who are willing to expose themselves to a moderate amount of risk with standard lots. One of the primary differences with this account is that larger contract sizes are available.

XM Zero Accounts require a minimum deposit of $100 and offer spreads as low as zero pips, along with XM’s no re-quotes execution policy. It’s important to note that XM charge a total commission of $7 for every $100,000 traded on their Zero Account.

Demonstration accounts are also available. These are intended for those who wish to try out the platform before making an ultimate decision. Interestingly enough, no less than $100,000 dollars in virtual funds are provided. It should be mentioned that XM also offers Islamic accounts for those who wish to trade under the principles of Sharia law.

Spreads and Commission

As with most online Forex brokers, the spreads will depend upon the trading system and the type of account. Spreads can start as low as zero pips (on a zero spread account). An added benefit in regards to these pips is that fractional pricing is available; five digits are provided as opposed to the standard four digits offered in other sites. Both fixed and variable spreads can be chosen by the trader.

There are no commissions charged by XM. Instead, the company makes a profit on the spreads of the trades themselves. There are therefore no hidden fees and the gains (or losses) which a trader makes are quite real.

Underlying Assets

There are several different instruments that can be traded through XM. Some of the most popular are:

  • Forex
  • Stocks CFDs
  • Commodities CFDs
  • Precious metals CFDs
  • Energies CFDs
  • Equity Indices CFDs
  • Cryptocurrencies CFDs.

No EFT trading is supported by this platform.

Reliability and Efficiency

XM.com is considered by many to be one of the most reliable platforms available for those who wish to execute real-time trades (nearly 100% are completed in less than one second). There will be no re-quotes and all figures are as they stand upon the execution of a position. Due to the use of the previously mentioned trading platforms, there is little lag times between the observed prices and their actual market equivalents. However, this will partially rely upon the processing power of one’s computer and its connection speed.

Payment and Withdrawal Methods

XM Group accepts the most commonly used Local Payment Methods today including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc.

It should be noted that it’s currently not possible to use PayPal to deposit or withdraw funds.

Customer Support

XM boasts appreciable levels of client engagement and support. A live chat widget, email and telephone number are offered as standard to clients of all account levels. One of the most interesting features of this support is that (currently) XM provides customer service in no less than 20 different languages. Facsimiles are also able to be sent to four different numbers depending upon one’s physical location. These support services are only available from Monday through Friday. Any requests put forth during the weekend will be addressed on the next business day.

Conclusion

XM Group is quite a popular online broker for traders of all skill levels. Its primary benefits are the high reliability of trade executions, easily manageable platforms, and no order rejection.

Still, there are some downsides to be noted. As mentioned previously, the use of PayPal for money transfers is currently not supported. There is little difference (besides the risk and trading volume) of the three account types. Finally, the fact that customer support is only available from Monday until Friday may slightly aggravate some traders who wish to execute positions during the weekend. XM.com is nonetheless a powerful online Forex broker which should not be overlooked.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.xm.com on 01/09/2019.