XM’s use of MT4 and MT5 platforms ensures traders haveaccess to advanced tools, while its educational resources and market researchprovide valuable support in making informed trading decisions. Founded in 2009, XM has emerged as aglobally recognized online broker, serving over 15 million clients across 190countries. Known for its commitment to transparency, XM offers access to a widearray of financial markets, providing traders with competitive spreads andmultiple account types that cater to different trading styles. XM Group provide you with very good proprietary trading tools for the MetaTrader 4/5 trading platforms. These tools are fully automated and can help you to perform technical analysis across multiple instruments and charts, in order to identify potential trading opportunities. This makes it quick and easy for you to identify trading signals without needing to constantly stare at your charts all day and night.
We checked the authenticity of the licenses stated on the broker’s website to make sure they were still active. The withdrawal period using bank cards should at least be processed with in 1 to 2 working days. But, for me, the main ones were the reasonable and affordable costs for trading, and responsive support, in case I need to handle some problem quickly. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Yes, based on your detected country of CZ, you can open an account with this broker. The account opening process with XM is straightforward and user-friendly.
“cost-efficient platform”
Fast deposits and withdrawals are frequently mentioned positives, alongside helpful customer support. On the downside, high spreads on other accounts are a common complaint, and some users report occasional withdrawal issues or slippage during volatile times. The XM MT5 platform offers all of the same powerful features that the XM MT4 has to offer, along with more trading tools and advanced capabilities. It has an additional 1000 CFDs on stocks (shares), which makes it the ideal multi-asset platform. You can trade forex and CFDs on stocks, gold, oil and equity indices from 1 platform with no rejections, no re-quotes and flexible leverage. If you want as many trading instruments at your disposal, then you should probably opt for MT5.
Platform tutorial videos
Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA). Contact us directly for further inquiries about our products and services. Moreover, XM stands out with its, securetransaction methods, and a commitment to client safety through measures likenegative balance protection and segregated accounts. A $10 monthly inactivity fee is appliedif an account remains dormant for more than 90 days.
Is XM Group a safe forex broker?
- XM Group estimate the account opening process to take an impressive 2 minutes to complete.
- Founded in 2014 and acquired in 2021, BrokerNotes.co provides unbiased forex broker reviews and ratings to help traders and investors find the best broker for their needs.
- When it comes to trust and security, XM has taken significant steps to establish itself as a regulated and secure broker.
- Stay informed with daily market updates and analysis from the XM Market Intelligence Team.
- A key trading cost is the spread – the difference between the buy and sell price.
You can automate your analysis and gain access to the proprietary indicators by contacting your personal account manager at XM Group who will be happy to get you started and provide you with assistance. I don’t usually require assistance from the account manager as I have been trading for many years. However, it is a great option if you are new to trading and need some guidance along the way. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go.
As always, potential traders should conduct thorough research before making their final decision. Depositing and withdrawing funds with XM is a convenient and secure process. The broker offers a variety of payment methods to cater to traders from around the world. XM offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for desktop users. These platforms are known for their comprehensive charting capabilities, technical indicators, and expert advisors (EAs). XM Group offers a range of trading platforms to suit different preferences and trading styles.
- Fast deposits and withdrawals are frequently mentioned positives, alongside helpful customer support.
- Our expert team has thoroughly explored the broker, using a tested methodology and scoring system.
- For example, XM charges fees for deposits and withdrawals via Bank Wire below $200.
- This review will cover XM’s key features,including its trading platforms, regulation, account types, and customersupport, to help you determine if this broker aligns with your trading needs.
- Such a long history proves that this is a credible broker to trade with.
- Use the orange “Edit” button to make direct comparisons with other brokers or symbols.
Demo accounts
You can open a free demo account to learn how to use the platform and practice trading online risk free, until you build enough confidence to open a live account. The XM Ultra Low Account is perfect forcost-conscious traders, particularly those focused on major currency pairs,thanks to its reduced spreads and zero commission fees. However, traders using this account arenot eligible for the XM Bonus scheme, and the minimum deposit required is just$5. The broker’s flexible account types,competitive spreads, and zero-commission trading on most accounts make it acost-effective choice.
At BrokerNotes.co, our data-driven online broker reviews are based on our extensive testing of brokers, platforms, products, technologies, and third-party trading tools. Our product testing extends to the quality and availability of educational content, market research resources, and the accessibility and capabilities of mobile platforms and trading apps. We also dive into each broker’s trading costs, such as VIP rebates, inactivity fees, custody fees, bid/ask spreads, and other fee-based data points.
XM Group give you access to trade a wide range of more than 1000 financial instruments including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies & CFDs. This is an excellent selection that I would put up there with some of the best in the industry. However, if you want even more, you could consider TMGM who have over 15,000 or Plus500 with more than 2,000 CFD instruments.
Select which XM Group entity you wish to trade with (only for EU traders, choose between XM CY or XM Global) and select your trading platform (choose between MT 4 and MT5). As part of our XM Group forex broker review, we investigated the background of the company and its owners. XM Group was first founded by Constantinos Cleanthous under the name Trading Point Group. Since then, Tasos Anastosiou has taken up the role of CEO, and Ilias Mavrommatis is the company’s Managing Director.
We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. I believe that XM Group understands that clients want fair and transparent trading conditions with the lowest possible spreads and fastest possible execution. This combined with strong regulation and a human approach, makes XM Group one of the best trading brokers available to traders worldwide.
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I consider regulators such as the FCA and ASIC to be top-tier when compared to other regulators such as those located offshore. XM Group is authorised and regulated by the Australian Securities and Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC). This helps to ensure safety of client funds and that they abide by strict regulatory standards with the most sought-after regulators. They are also regulated with the International Financial Services Commission of Belize (IFSC) and the Dubai Financial Services Authority (DFSA). These factors combined with a no-requotes and no extra commissions policy ensures that XM Group are amongst one of the best trading brokers you can trade with in my opinion.
This low minimumdeposit applies to both the Micro and Standard accounts. XM’s leverage structure, combined withrobust risk management tools, enables traders to optimize their tradingstrategies while controlling their exposure to risk. XM offers CFDs on global stock indicessuch as the S&P 500, FTSE 100, NASDAQ 100, and DAX 30.
We recommend XM Group for beginners due to its comprehensive educational xm group resources, including both advanced and beginner videos. The amount of quality educational content provided by XM Group bestows it a high rating for education and beginners. Our research indicates that XM Group is a highly recommended choice for forex and CFD trading.
To complete this XM Group broker review, our team downloaded both mobile apps and tested their security features. We were disappointed to find that we could log in to the trading platform without two-step verification, but happy to find that this security feature was needed to make deposits and withdrawals. At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). XM offers the globally recognised MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are industry benchmarks available on desktop, web, and mobile. Additionally, they provide their own proprietary XM App for a streamlined mobile trading experience.