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 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 instrument 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

Trading Platforms

XM trading platforms

Following 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, 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.

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.

Trading Conditions

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; commission is applied but allows Islamic account with no swaps.

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.

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

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.


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.

XM overall scores

In this review, you can find all the information you need to decide whether XM is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how XM scored in each of our high-priority categories

93 points
Comissions & fees
90 points
Licensing & safety
95 points
Platforms & tools
95 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