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Trading Conditions 8
Registration process 3
Usability 5
Deposits and Withdrawals 7
Customer Care 5

XM is a popular retail trading broker founded in 2009. It is currently trusted by 5,000,000 customers from over 190 countries. XM offers competitive trading conditions, including low spreads from as low as 0.0 pips, no requotes or rejections, and fast execution speeds. The broker also offers a range of educational resources for traders of all levels, including video tutorials, webinars, and in-person seminars.

XM is regulated by multiple regulatory bodies, including the FCA, CySEC, ASIC, and IFSC. The broker also offers segregated client funds, negative balance protection, and 24/5 client support.

XM’s commitment to providing a high-quality trading experience has earned them numerous industry awards, including Best FX Service Provider 2021 and Best Trading Platform 2021 from World Finance.

Overall, XM is a reliable broker for traders looking to trade a variety of financial instruments with competitive trading conditions and comprehensive educational resources.


XM Global Limited is licensed under FSC number 000261/309 (Belize).

In Australia, the activity is regulated by the ASIC license, in Europe – by CySEC (Cyprus).

Overall, XM can be described as a reliable broker that is regulated by one tier 2 regulator and one tier 3 regulator.

Countries of presence

XM operates in over 180 countries. Mainly customers are distributed in the following countries:

  • Thailand – 13.90%
  • India – 12.47%
  • Colombia – 11.22%
  • Philippines – 10.30%
  • South Africa – 6.06%
  • Others – 46.06%


During the time since its Foundation of the XM received over 60 honorary awards, including:

  • Awarded the Global Forex Broker of the Year and Best Forex Trading Support at Global Forex Awards 2022 – Retail
  • Awarded the Best Mobile App by Financial Expo Egypt 2022
  • Awarded the Best Affiliate Program by Smart Vision Investment Expo Egypt 2021
  • Awarded as Best Broker in Customer Service by FX168

Trading Platforms

The XM broker offers both web-based trading platform and mobile platforms suitable for iOS and Android operating systems.

Trading accounts

XM offers four different accounts:

  • Micro Account
  • Standard Account
  • XM Ultra-Low Account
  • Shares Account

Trading with XM will include commissions from $5, spreads from 0.6 pips and commission-free trading depending on the account chosen by the trader. The minimum deposit required to register a live XM trading account varies from $5 to $10,000.

Comparative analysis of trading accounts:

🔎 XM Account 🥇 Micro Account 🥈 Standard Account 🥉 XM Ultra Low Account 🏅 Shares Account
Currency USD, EUR, GBP, JPY, CHF,‎




💰 Min Deposit $5 USD $5 USD $5 USD $10’000 USD
❤️ Negative Balance Protection ☑️ Yes ✅ Yes ☑️ Yes ✅ Yes
🔃 Spreads from 1 Pip 1 Pip 0.6 Pips As per the underlying exchange
💸 Commission Fee No No No ☑️ Yes
☪️ Islamic Option ☑️ Yes ✅ Yes ☑️ Yes ✅ Yes
Swap free ☑️ Yes ✅ Yes No No
Leverage Up to 1:1000 Up to 1:1000 Up to 1:1000 no

Islamic account XM

XM offers four Swap Free Islamic account options: Micro Swap Free, Standard Swap Free, Ultra Low Swap Free, and Equity Swap Free. XM Extended no swap status by default for all applicable trading accounts created by clients in non-Islamic countries. The customer service team will guide applicants through the process of opening an XM Islamic account without swaps.

Trading Instruments

CFDs and Forex are available to all clients, but stocks are available to clients only under IFSC regulation. Popular asset classes such as real ETFs, bonds or options are missing.

XM is a CFD and forex broker with a large number of currency pairs available for trading. However, the choice of CFDs is lower compared to some of the XM alternatives.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money quickly due to leverage. 74.89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Cryptocurrencies are available to clients connected to XM Global Limited.

You cannot change the leverage level of the products, which is a disadvantage. Changing leverage manually is a very useful feature when you want to reduce the risk of your trading. Be careful when trading Forex and CFDs as the leverage levels set can be high.

Registration process

XM offers registration only via email, it is not possible to register using the social network. Registration is combined with opening an account, which allows you to start trading as quickly as possible.

To register, the client provides personal and contact information, selects the terms of the trading account and completes a short questionnaire to understand his professional experience and trading knowledge.

After filling out the questionnaire, a confirmation letter will be sent to the mail, after which the registration process will be completed.

Choose your trading conditions carefully, because before the deposit and verification you will not be able to open other real trading accounts.

It takes about 2-3 minutes to complete all the data.


For verification, the trader provides information about which country he is a taxpayer, ID (color copy of a valid passport, driver’s license, identity card, etc.) and POA (proof of residence).

Without verification, the list of payment methods for a deposit will be limited, withdrawals will not be available in full.

Deposits and withdrawals 

XM offers a wide range of payment options for deposits/withdrawals, including multiple credit cards, multiple electronic payment methods, bank transfers, local bank transfers and other payment methods.

Some of the methods may be available only after full account verification; for withdrawals, full verification is required.

The XM Back Office will process your withdrawal request within 24 hours.

In addition, XM compensates all commissions of payment systems for deposits and withdrawals, which is an absolute advantage compared to many brokers.


XM support operates worldwide, helping customers and understanding them in 25 languages:

English, Arabic, Bengali, Czech, Dutch, Filipin, French, German, Greek, Nope, Hungarian, Indonesian, Korean, Malay, Polish, Portuguese, Russian, Simplified, Chinese, Spanish, Swedish, Thai, Traditional Chinese, Turkish, Urdu, Vietnamese.

The client can send his request to the right department and expect a response. Unfortunately, the support is not 24/7 and only works from Monday to Friday.

Instead, XM has a Help Center where a trader can find information and step-by-step instructions for most of their questions.


Loyalty program

XM provides a loyalty program to active traders. Clients can trade and earn XM points which can be redeemed for credit bonuses.

Free VPS services

XM VPS allows you to remotely connect to a virtual private server (VPS) located just 1.5 km from the London data center with an optical fiber connection. By using this service, the trader will be able to take full advantage of XM’s unparalleled execution without worrying about other factors that may prevent you from trading effectively, such as internet connection speed, computer breakdown or power outages.

Welcome bonus 50% + 20%

Welcome bonus 50% + 20% increases the size of your deposit.

For deposits up to $1000 you will receive a 50% deposit bonus, after that for deposits up to $23,500 you will receive a 20% deposit bonus. The maximum bonus that each eligible customer can receive under this promotion is $5,000.

Affiliate program

XM affiliate commission is up to $25 per lot as a revenue sharing model for affiliates. The XM program offers a 10% commission for second level referrals. There are no limits on commissions per client. Convenient system of transfers between partners and clients.

Benefits of the XM Partner Program:

  • No limits on the maximum commission
  • Real time reporting
  • Weekly payouts
  • Promotional materials in more than 25 languages
  • Personal managers and 24/7 support


XM offers convenient and useful educational materials for beginner traders – many tutorials on working with the platform and Metatrader, webinars in 9 languages, educational videos and live interviews with market experts.