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XM is a forex trading and CFDs broker founded in 2009. It is regulated by CySEC, ASIC and the FCA. It offers services to 3.5 million clients from over 196 countries and customer support in 30 languages. This broker offers more than 1000 instruments including CFDs on Forex, Stocks Commodities, Equity Indices, Precious Metals and Energies to be traded on the MT4/MT5 platforms. Forex traders can invest on more than 55 pairs, such as USD, GBP, EUR and JPY.
The company provides low pricing and a wide variety of research resources. Clients can open micro and standard accounts with only 5$. A demo account is available.
Trading fees range from commissions to spreads, and conversion fees. XM is considered to have relatively low fees. The various account types the broker offers have different pricing but where there are higher spreads, commissions might be zero. The Zero account allows for instant execution, without any requotes.
Commissions and fees depend on the account type. There are commission-free Micro and Standard accounts, or a commission-based XM Zero account.
The XM Group provides a wide array of educational and research material, including a TV with daily market news, forex videos, podcasts, articles about forex, indices, stocks, and cryptocurrencies. They also provide webinars and educational trading content for both beginners and professional traders.
The XM Group was founded in 2009 in Cyprus and has 3.5m clients from 196 countries, and 450 employees. The company provides 25+ payment methods and has 16 trading platforms.
In Sydney, Australia, XM is regulated by ASIC (license number 443670), in the United Kingdom (UK), it is regulated by the FCA (license number 705428), under Trading Point of Financial Instruments UK Ltd, and in Belize, it is regulated by the IFSC (license number IFSC/60/354/TS/19). In Cyprus, it is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10).
XM offers a wide array of educational materials and instruments. It provides services to Asia, Mena and Africa and is a regulated broker with good trading conditions.
Users however often feel limited by the fact that customer support is only available Monday to Friday. The three types of accounts have minimal differences and do not offer a variety of choices or add more of a tailored impression. For many, it is hard to see any differences between the Micro, Standard and Zero accounts. For such a big company, it is also disappointing for many traders to be unable to fun their accounts through PayPal. Canadian and US residents are not eligible to open accounts with XM.
