XM full review - TopForex.Trade


Founded in 2009 and trusted by millions of users worldwide, XM is an international broker that allows operating numerous trading instruments through user-friendly desktop and mobile platforms under very favorable trading conditions.

Numbers of instruments
Regulated by
Comissions & fees
Licensing & safety
Platforms & tools


XM: trade Forex, Crypto CFDs, stocks, metals and more

XM Broker is a project of the XM group. The company is licensed by ASIC (Australia), CySEC (Cyprus), IFSC (Belize), and DFSA (Middle East), therefore, operating in almost 200 countries as a properly regulated entity.

XM comes as an ‘all-inclusive’ broker that combines the vastness of trading instruments and platform choice with attractive trading conditions.

More than 1000 trading instruments
Leverage up to 1:888
Spreads as low as 0.6 pips
Bonus up to $5,000.
Not available for the US nationals


XM Trading Platforms

XM trading platforms

Following the preferences of the absolute majority of traders, XM offers two trading terminals: MT4 and MT5. While both are available for PC, Mac, iPhone, iPad, Android, and Android Tablet, and as an online Web version, MT4 allows using it as a multiterminal as well.

Traditionally, MT4 is seen as a preferred terminal for traders who are used to trade currencies and metals. In the meantime, MT5 may be suitable for those who are looking for a wide spectrum of trading instruments: it includes CFDs on stocks, indices, commodities, and cryptocurrencies.


XM Trading Instruments

XM list of instruments available for trading

Forex: more than 55 currency pairs that include major pairs, crosses, and exotics
Stock CFDs: more than 1000 stocks linked to public companies traded on major global stock market exchanges
Commodities: the US cocoa, coffee, corn, cotton, copper, soybeans, sugar, wheat
Indices: 14 major stock market indices from the most famous ones such as the S&P 500 to regional ones like IT40Cash
Precious metals: gold and silver
Energies: Brent Crude and WTI, WTI Mini, London Gas Oil, and Natural Gas
Shares: 100 most famous public companies traded on the US, UK, and German exchanges.


XM trading accounts

XM trading accounts

Apart from a Demo account that allows practicing trading strategies on the real market without risking real money, XM offers four account types: Micro, Standard, XM Ultra Low, Shares. Here are some of the main features of each one.

Micro: all the main currencies, negative balance protection, no commission, one lot equals 1,000 currency units.

Standard: conditions similar to the above, with the standard lot equaling 100,000 currency units.

XM Ultra Low: narrower trade instrument choice but lower spreads – as low as 0.6 pips.

Shares: no leverage; the commission is applied but allows Islamic account with no swaps.


XM Fees and Commissions

XM fixed and variable spreads

XM Broker is very client-oriented in terms of their fee schedule.

Commissions: XM Broker takes no commission on any transaction whatsoever in any account type except for Shares.

Fees: no hidden fees are implied in your trade.

Spreads: very competitive – they vary depending on your account type and asset class you operate.

Deposit/withdrawal: free of charge/zero-fee policy.


XM Bonus Programs

XM lists of bonuses for traders

Mainly, XM offers three bonus program types complementing them with free VPS and zero-fee deposits and withdrawals.

100% automatic entry bonus up to $5,000

Referral: you get $35 for each friend that joins XM as your referral

Occasional: seasonal bonuses and those linked to different calendar events


XM Trading Education

XM education materials for traders

XM offers a wide range of explanatory videos and online guides that help you catch up with the market trends and develop your trading strategy with the analysis tool you like. In the XM Learning Center, you will find anything from Education Videos and Platform Tutorials to Forex Seminars and Webinars.

Also, the broker offers daily market news and review, trade ideas, and technical summaries to rely on during your trading activities.


XM Summary

Benefits of XM forex broker

XM Broker has been there for more than a decade and offers one of the broadest trading instrument choices with attractive trading conditions, numerous educational materials, and trade incentives. It is suitable for traders of all levels who want to have access to many market sectors and have their broker’s support as they go.



More about XM: 

Get an overview of the trading instruments offered by XM, including conditions and opportunities for dealing with currency pairs and CFDs on commodities, stocks, and indices. Take advantage of tight spreads and flexible leverage on a user-friendly platform.

Uncover comprehensive insights into the XM Group trading platforms, including MT4, MT5, web terminals, and the mobile app. Explore their technical characteristics, charting capabilities, and additional features such as Expert Advisors. Discover how to optimize your trading experience by opening an account with XM, granting access to free VPS hosting, an extensive library of educational materials, and on-the-go technical support through the mobile app.

Discover the advantages of trading with XM broker’s bonuses, including welcome bonuses and deposit bonuses. Learn about the eligibility requirements, risks, withdrawal restrictions, and where to find the latest information on XM’s current bonus offerings.


XM overall scores

This review was created for you to learn more about XM and decide on how well it suits your needs and values. We scored it using our own criteria and methodology to present you with a full, informative report. However, some info is clearer in numbers! Please, see XM final scores in areas that our experts consider high-priority.

98 points
Comissions & fees
97 points
Licensing & safety
99 points
Platforms & tools
99 points
Forex currency pairs
Stock CFDs
Precious metals

XM fees and commissions

No commission on any transaction (except for Shares) No hidden fees in your trades Competitive spreads Deposit and withdrawal are free of charge

Very wide range of trade instruments
Highly client-oriented fee policy and trade conditions
Special perks for traders from Singapore, Malaysia, Philippines, and Japan
Attractive bonus programs
Very diverse educational base
Well-trusted and experienced
The choice of trading platforms is limited by MT4 and MT5
Broker doesn’t service the US nationals

XM broker FAQ

XM Broker has been enjoying the trust of millions of traders worldwide since 2009.
XM Broker offers a 100% entry bonus of up to $5000, client referral and occasional bonuses.
XM Broker is licensed and regulated by ASIC, CySEC, IFSC, and DFSA.
The minimum you have to deposit to start trading with XM Broker is $5.
Micro, Standard, Ultra Low, Shares accounts are available with XM Broker.
XM Broker offers numerous trade instruments and favorable conditions to trade; the outcome depends on each trader’s strategy and experience.