XM Review – Latest XM Review 2021

What is XM?

XM is an online CFD broker that offers the possibility of trading both in Forex and in a wide range of more than 100 instruments such as metals, commodities, stock indices, energy products and a long etcetera. Despite being a relatively young company, since its launch it has not stopped gaining popularity. At OkBrokers we have carried out an exhaustive analysis of this online broker to know in detail its main characteristics and the reason for its success.

Here is everything related to the XM business fabric. XM Group (XM) is a business group of regulated online brokers. One of his companies, Trading Point of Financial Instruments Ltd was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10). On the other hand, Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Australian Securities and Investments Commission (ASIC 443670). Finally, XM Global Limited was founded in 2017 and it has a license issued by the International Financial Services Commission (000261/106) .. For traders resident in Spain it will be worth knowing that it is also registered with the CNMV National Securities Market Commission. ,

Other points that we have carefully analyzed are the offer of XM trading platforms, the commissions and spreads per instrument (which are quite low), the speed of order execution, the investment strategies allowed by this broker or the available leverages. (which depend on the instrument as well as the place of residence of its users). But let's skip the forewords to focus on our take on XM.

Is XM a reliable broker?

This broker is registered with the CySEC of Cyprus, a regulatory body in which it has the number 251334 and the 120/10 license. The registered company is Trading Point of Financial Instruments Ltd and as a postal address we find the Cypriot city of Limassol.

In order to operate in Spain with greater reliability, XM has been registered by the National Securities Market Commission of Spain since December 2010, with license number 2774 and as a free service foreign investment services company. That makes XM a safe broker for any trader and more so for residents of Spain.

We must make an important clarification here regarding possible claims. If, for any reason, you must file a claim regarding the operations carried out through this broker's platform, you must file it with the Cypriot CySEC and not with the Spanish CNMV. All these licenses imply that this broker must comply with the highest requirements stipulated in directives such as the European MiFID, as well as those contained in the Cypriot Law of Regulated Markets of 2007.

XM clients' funds are also covered by the Investment Compensation Fund of which it is a member, as required by Cypriot law. This fund guarantees an amount of € 20,000 for all clients of those brokers that are part of that fund, ensuring the total or partial recovery of their capital in the event that the company experiences financial difficulties.

In addition, XM does not accept negative account balances, so your losses when operating with this broker are limited to the investment you have made. The fact of being able to lose more money than invested is the great danger of CFDs, and, in this case, you will not have to worry about this possibility. For all this, we believe that XM is one of the safest brokers and, therefore, ours give it the highest marks in terms of security and regulation.

XM commissions and spreads

Although at first glance the trading commissions may seem low, the impact that they can have in the long term can be important and, therefore, studying them in detail is a fundamental part when establishing our investment strategy or when choosing a broker. with which we are going to operate. At this point, it is worth noting the fact that XM does not charge commissions of any kind except for spreads.

The spread is the difference between the price at which a position can be opened and its closing price. At XM, traders can trade two types of spreads: fixed and floating. The advantage of the latter is that they can be very low (as low as 1 pip) depending on the trading volumes. If we compare the spreads of XM with those of other brokers we will realize that they are relatively low.

Currency pairs on XM

More Shares in XM

Commodities in XM (Metals)

Commodities in XM (Energy)

Shares in XM (Spain)

Commodities in XM (Agricultural)

Stock Indices in XM

Trading platform

XM offers a wide range of options when choosing a trading platform to carry out your operations. Your clients will be able to choose between 16 types of platform to invest in both Forex and other financial assets through CFDs. This is a point in favor of this broker compared to many of its competitors.

In this offer, XM includes some of the most popular trading platforms on the market such as MetaTrader 4, which adapts to the needs of all types of traders, whether they are beginners or advanced. This platform has a functional interface, easy to use and in which you can make use of a multitude of very useful tools.

XM Demo Account

The XM demo account is completely free and can be used unlimitedly. Although not all, most brokers offer this type of account in which users can practice, either to develop investment strategies that can be put into practice with real money or simply to become familiar with the operation of the platform before make your investments.

As we said before, XM offers the possibility of opening a demo account and using it for an unlimited time, something that we at OkBrokers consider positive. Demo accounts are very useful and we strongly recommend the use of them before putting any capital at risk.

XM trader account types

XM Group (XM) offers its clients 4 different types of trading account. These are: Micro, Standard, Zero and Ultra low. Here we explain the differences.

• XM Micro : this type of account allows you to operate with micro lots, a lower level of risk and your minimum deposit is $ 5.
• XM Standard : with the standard trading account you can trade standard lots with a minimum deposit of $ 5.
• XM Zero : this trading account allows you to trade with standard lots, lower spreads (from 0 pips) and your minimum initial deposit is $ 100. With the XM Zero account, a commission of $ 3.5 is paid for every $ 100,000 traded.
• XM Ultra : finally the XM Ultra account allows you to trade both micro lots and standard lots. The spreads are lower than with Micro and Standard (from 0.6 pips) and your minimum deposit is $ 50.

Not all of these accounts are available to clients of all XM Group companies. Zero and Ultra accounts are not compatible with bonuses offered to clients of XM Group entities not registered in the European Union.

How to open an account on XM?

To open an account in XM you will only need to make an online registration from the broker's own website by just filling out a simple form. Of course, you will also have to make a first deposit into account that can vary between 5 and 100 dollars, depending on the type of account you are thinking of opening.

Keep in mind that it is very possible that some documents will be required to prove your identity. Only in this way can your registration be validated. Once you have created your XM account, you can start taking the positions you want for the assets you have chosen thanks to the different trading platforms that you will have at your fingertips at all times.

Advantages of trading with XM

• You have the MetaTrader 4 Platform.
• Competitive spreads.
• No commissions.
• Demo account for unlimited time.

Disadvantages of trading with XM

• It does not accept US users.