XM Group Broker Review 2024

XM Group, a well-established forex broker, has been a significant presence in the financial industry since 2009, serving over 10 million clients.

With a track record of over 8.5 billion transactions completed without requotes and rejections, XM Group has proven its reliability.

Offering more than 1000 instruments and zero-spread trades, this brokerage has attracted many traders.

In this comprehensive XM Group review, we cover the advantages, disadvantages, essential features, account types, and other details, ensuring you are well-informed and prepared to make the right choice.

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:

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:

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:

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:

1. Visit the XM Group website and click on "Open an Account";

2. Choose your country from the list, then fill in the registration form with a valid email address and create a strong password;
3. 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;
• 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:

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, with features and specifics such as licenses from reputable authorities, including ASIC, and a long-term presence in the industry since 2009, offers a stable and secure facility for trading.

With more than 1,000 instruments and up to 1:1,000 leverage, the company can be a good option.

However, it's crucial to take responsibility for your decisions by conducting thorough research and reading XM's terms and conditions carefully before depositing any funds.