XM Group is a financial brokerage with 50+ currency pairs and over 600 company shares. The company's trust score on the Trustpilot platform is 2.3/5, with more than 600 reviews. Users on ForexPeaceArmy has given an average of 3.1 out of 5 to the discussed broker.
XM Group Broker Company Information & Regulation
XM Group is a global forex broker that operates under several regulatory licenses, ensuring a high level of security and transparency for its clients. Here are the regulatory licenses of XM Group's company:
- Australian Securities & Investment Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
- Dubai Financial Services Authority (DFSA)
- Financial Services Commission of Belize (FSC)
XM Group's multi-regulation approach provides traders with peace of mind, knowing that their funds and personal information are protected by some of the most respected financial authorities worldwide.
Properties Summary
Here's a quick overview of XM Group's key features:
Broker | XM Group |
Account Types | Micro, Standard, Ultra Low, Shares |
Regulating Authorities | ASIC, FSC, DFSA, CySEC |
Based Currencies | USD, EUR, GBP, AUD, HUF, SGD, ZAR, JPY, CHF, PLN |
Minimum Deposit | $5 |
Deposit Methods | Credit/Debit Cards, Bank Transfers, E-Wallet Payments |
Withdrawal Methods | Credit/Debit Cards, Bank Transfers, E-Wallet Payments |
Minimum Order | From 0.01 Lot |
Maximum Leverage | Up To 1:1000 |
Investment Options | None |
Trading Platforms & Apps | MT4, MT5, Mobile App |
Markets | Forex, Commodities, Indices, Shares |
Spread | From 0.6 Pips |
Commission | None Except On Shares Account No Withdrawal & Deposit Commissions |
Orders Execution | Market, Instant |
Margin Call/Stop Out | 50%/20% |
Trading Features | MQL5 Signal Service |
Affiliate Program | Yes |
Bonus & Promotions | Loyalty Program |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | 24/7 |
Customer Support Hours | Email, Phone Call, Live Chat |
Account Types
XM Group provides several account types to comply with different approaches and styles in trading. The broker's trading accounts:
- Micro
- Standard
- Ultra Low Standard
- Shares
- Demo
At the table below, you will see a brief comparison of real trading accounts:
| Account Type | Micro | Standard | Ultra Low Standard | Shares |
Commission | None | None | None | Varies |
Leverage | Up To 1:1000 | Up To 1:1000 | Up To 1:1000 | None |
Min. Deposit | $5 | $5 | $5 | None |
Spread | From 1 Pip | From 1 Pip | From 0.6 Pips | Depending On The Underlying Exchange |
Strengths & Weaknesses
One of the main sections of every review is the "advantages and disadvantages." Let's take a look at the pros and cons of trading with XM Group:
Pros | Cons |
Wide Range Of Trading Instruments | Inactivity Fees |
Low Minimum Deposit | Restrictions For Some Countries, Such As the US And Canada |
Multiple Regulatory Licenses | |
Negative Balance Protection |
How to Register & Verify Account
Opening an account with XM Group is straightforward and similar to most brokers and platforms. Here's a step-by-step guide:
- Visit the XM Group website and click on "Open an Account";
- Choose your country from the list, then fill in the registration form with a valid email address and create a strong password;
- Verify your email address.
Now, your account on XM is created! Complete the verification process by completing your "Profile" on the website and submitting the necessary documents.
Platforms & Apps
As a history-rich broker, XM Group offers a range of popular trading platforms to suit different trader preferences:
MetaTrader 4 (MT4):
- Industry-standard platform;
- Available for desktop, web, and mobile;
- 3 chart types;
- Full Expert Advisors (EAs) support.
MetaTrader 5 (MT5):
- Next-generation platform;
- One Click trading;
- Hedging permitted;
- Advanced timeframes and pending order types;
- More than 58 indicators and 44 analytical objects;
- MQL5 programming language for custom advisors;
- High number of simultaneous orders;
- Available for PC, browsers, and mobile phones.
XM Mobile app:
- Available for iOS and Android devices;
- Real-time quotes and charts;
- Full trading functionality on the go.
Commissions & Spreads
Based on our examination, XM Group broker does not charge any hidden fees or commissions related to withdrawals and deposits. However, a varying swap fee is charged on transactions.
Regarding costs on trading, here's a table for commissions and spreads based overview, based on trading accounts:
| Account Type | Micro & Standard | Ultra Low Standard | Shares |
Spreads | From 1 Pip | From 0.6 Pips | Varies |
Commission | None | None | Depends On The Underlying Exchange |
What Options Do You Have for Deposit and Withdrawal?
XM Group provides a variety of deposit and withdrawal methods to accommodate traders worldwide.
Note that the options might vary based on your region and might change in the future. The broker's payment methods:
- Credit/Debit cards (Visa, Mastercard);
- Bank wire transfer;
- E-wallets (Skrill, Neteller, etc.);
- Local payment methods (varies by country).
Copy Trade and Investment Platforms & Options
While XM Group doesn't offer a proprietary copy trading platform, traders can use the MQL5 signal copy services to follow and copy successful traders. This feature is built into Metatrader platforms.
Available Markets & Instruments
XM Group offers a diverse range of trading instruments:
- Forex: 50+ currency pairs
- Stocks: Covering over 600 companies' shares
- Turbo Stocks: access to shares trading with 1:200 leverage
- Commodities: Gold, silver, oil, and more
- Indices: Major global stock indices
Overall, this broker provides access to over 1,000 tradable assets on its platforms.
Bonuses & Promotions Overview
XM Group offers several bonuses and promotions to attract and retain traders. However, it could provide more options such as Deposit or welcome bonuses. Bonuses & promotions on the broker:
- Loyalty Program: Earn XM Points for trading activity, redeemable for cash rewards
- Trading Contests: Regular competitions with cash prizes
- Referral Program: Earn rewards for referring new clients
It's important to note that bonuses and promotions may vary by region and are subject to terms and conditions. Traders should always read the fine print before participating in any promotional offers.
Support Services & Schedule
In this part of the XM Group review, we discuss the broker's support section. XM provides versatile options for contacting customer services. Key points:
- 24/7 multilingual support;
- Available through phone calls, live chat, and email;
- Support in 30+ languages;
- Help center section with information about the broker & platforms.
List of Restricted Countries
While XM Group serves clients from many countries worldwide, there are some restrictions. This broker does not accept clients from:
- United States;
- Canada;
- Israel;
- Democratic People's Republic of Korea (North Korea);
- Iran.
Traders should always check the most up-to-date list of restricted countries on XM Group's website or contact customer support for the latest information.
Does XM Group Offer Negative Balance Protection?
The broker offers negative balance protection to all its retail clients. This means that traders cannot lose more than their account balance, even in cases of extreme market volatility.
This protection is automatically applied to all accounts and provides an additional layer of safety for traders.
Trust Scores and Ratings
XM Group has received mixed reviews from various rating platforms:
- Trustpilot Users Score: 2.3/5 stars based on over 600 reviews
- ForexPeaceArmy Rating: 3.1 out of 5, with more than 690 scores
While some negative reviews cite issues with slippage and account closures, many positive reviews praise XM Group's customer service and trading conditions.
Educational Content & Resources
XM Group offers a wide set of educational resources for traders of all levels. You can use these materials to your advantage whether you are a beginner or an experienced trader:
- Research Portal: Daily market analysis and trading ideas
- Educational Videos: Comprehensive video tutorials on various trading topics
- Webinars: Live and recorded webinars in multiple languages
- Educational Articles: In-depth articles covering trading strategies and market insights
- Trading Tools: Economic calendar, Forex calculator, etc.
Conclusion and Final Words
XM Group broker provides 4 live account types [Micro, Standard, Ultra Low, Shares] and requires a minimum deposit of $5 for the first three. The margin call and the stop-out levels are 50% and 20%, respectively.
ScamAdviser has given the company's website a trustscore of 100/100, with an average user rating of 3.1/5.