XM Review

Edited by: Louis Schoeman

XM Review

 

Overall, XM can be summarised as a highly regulated Forex Broker that specializes in Forex and CFD trading. XM offers access to 55 currency pairs in the Forex market and excellent customer support.  XM has a trust score of 97 out of 99.

 

🔎 Broker🥇 XM
💴 Minimum Deposit$5 USD
🎁 Bonus Offers✅Yes
📈 Account TypesMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
⏰ Support Hours24/7
🆓 Demo Account✅Yes

 

XM Review

 

 

XM Review – Analysis of Brokers’ Main Features

 

  1. ☑️ XM Overview
  2. ☑️ XM Detailed Summary
  3. ☑️ XM Safety and Security
  4. ☑️ XM Account Types
  5. ☑️ How To Open an XM Account
  6. ☑️ XM Trading Platforms and Software
  7. ☑️ XM Fees, Spreads, and, Commissions
  8. ☑️ Which Markets Can You Trade with XM?
  9. ☑️ XM Leverage and Margin
  10. ☑️ XM Deposit and Withdrawal
  11. ☑️ XM Educational Resources
  12. ☑️ XM Pros and Cons
  13. ☑️ In Conclusion
  14. ☑️ Frequently Asked Questions

 

 

XM Overview

 

XM is a renowned online brokerage firm specializing in forex and CFD trading. Founded in 2009, XM Group has become a significant player in the trading world by offering its clients a diverse range of products.

It operates under regulation from various financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), as well as International Financial Services Commission Belize (IFSC).

This provides traders with additional trustworthiness and security when dealing with them. One of XM’s differentiating aspects is its user-centric strategy, which provides clients with diverse trading products.

This includes over 55 currency pairs in the Forex market and a broad selection of CFDs on commodities, precious metals, energy, and equity indexes. Such an extensive portfolio caters to various trader interests and offers numerous options for diversification investing techniques.

XM is also distinguished for its excellent technology infrastructure. The broker provides the popular MetaTrader 4 and MetaTrader 5 platforms, noted for their reliability and extensive analytical tools.

These platforms are available on various devices, including desktops, tablets, and smartphones, allowing traders to manage their accounts and trade from anywhere and at any time.

The availability of these platforms, paired with quick execution times, appeals to both novice and experienced traders seeking efficiency and flexibility in their trading activity.

Furthermore, XM is committed to delivering comprehensive instructional resources and market research tools. The broker hosts periodic seminars and workshops for traders of all skill levels, assisting them in honing their trading techniques and tactics.

This instructional support, combined with daily market research and news feeds, keeps traders educated and prepared for the ever-changing nature of financial markets.

 

XM Overview

 

XM Detailed Summary

 

Established in 2009, XM has evolved as a dominant force in online forex and CFD brokerage, with a client base of over 10 million people from 196 countries.

This global reach demonstrates the broker’s broad appeal. Beyond its international presence, XM provides many benefits that cater to the demands of both beginner and experienced traders.  Founded in Cyprus and then expanded to Belize, XM prioritizes openness and regulatory compliance. XM adheres to strict financial standards and holds licenses in several places.

These rules ensure client monies are maintained securely in segregated accounts, protecting them from the company’s potential insolvency. Such consistent dedication to regulatory compliance fosters trust and a sense of security among traders navigating the complex world of financial markets.

Currently, XM provides a comprehensive range of tradable instruments, including over 55 currency pairs, precious metals, energy commodities, equities indexes, and CFDs.

This comprehensive assortment appeals to various trading techniques and risk preferences, allowing traders to tailor their portfolios to their unique goals.

Whether seeking the vibrancy of forex trading or the relative stability of precious metals, XM provides traders with the tools they need to explore a wide range of market opportunities.

XM’s mentality emphasizes education and assistance. The broker has a large library of educational resources covering market analysis, trading methods, and platform training. These materials enable traders to gain the knowledge and confidence required to navigate financial markets successfully.

Furthermore, XM provides multilingual customer support that is available 24 hours a day, seven days a week, guaranteeing that traders may receive prompt assistance whenever needed.

 

🔎 Broker🥇 XM
📈 Established Year2009
📉 Regulation and LicensesFSCA, IFSC, ASIC, CySEC, DFSA, FCA
📊 Ease of Use Rating5/5
🎁 Bonuses$30 no-deposit bonus, Trade and Win, Referral Program, 50% + 20% deposit bonus
⏰ Support Hours24/7
🖱️ Trading PlatformsMetaTrader 4, MetaTrader 5, XM App
⚙️ Account TypesMicro Account, Standard Account, XM Ultra-Low Account, Shares Account
💴 Base CurrenciesUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📌 SpreadsFrom 0.6 pips (XM Ultra-Low Account, EUR/USD)
📍 Leverage1:1000
💵 Currency Pairs55, minor, major, and exotic pairs
💶 Minimum Deposit$5 USD
💷 Inactivity FeeYes, $15 once-off after 12 months of inactivity, then $5 per month
🥰 Website LanguagesEnglish, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others
💰 Fees and CommissionsSpreads from 0.6 pips, commissions from $1 per Share
🤝 Affiliate Program✅Yes
❌ Banned CountriesThe United States, Canada, Israel, the Islamic Republic of Iran
✔️ Scalping✅Yes
↪️ Hedging✅Yes
📐 Trading InstrumentsForex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, Turbo Stocks
🚀 Open an Account👉 Click Here

 

 

Can I trust XM with my investments?

Yes, you can trust XM with your assets because it is regulated by numerous recognized financial bodies, including CySEC, ASIC, and IFSC, which ensure high financial rules and practices are followed.

 

What kind of trading does XM specialize in?

XM specializes in forex and CFD trading, providing various goods such as currency pairings, commodities, equities indexes, and precious metals.

 

 

XM Detailed Summary 

 

XM Safety and Security

 

XM is dedicated to furnishing its clientele with a safe trading milieu and utilizes several advanced security features.

Firstly, XM meticulously adheres to stringent regulatory norms and operates under the surveillance of multiple financial regulating agencies such as CySEC, ASIC, and IFSC. This conformity guarantees compliance with elevated fiscal standards alongside optimal operational transparency.

Regarding digital security, XM employs resilient data encryption methods throughout its trading platforms to safeguard customers’ personal and financial details.

This encompasses SSL (Secure Socket Layer) technology that encrypts information transferred between client devices and XM servers, effectively forestalling any interception or unauthorized access.

XM has also implemented two-factor authentication (2FA) for account access, adding an extra security layer beyond the username and password.

This feature dramatically minimizes the chance of illegal account access by requiring a second form of verification, which is often a code sent to the client’s mobile device.

XM protects funds in financial transactions by using segregated accounts. This means that clients’ funds are kept separate from the company’s operational funds, which protects them in the unlikely case of the broker’s financial instability or insolvency.

 

 

How does XM ensure the security of my personal information?

XM protects your personal and financial information from illegal access with powerful data encryption technologies such as SSL technology.

 

What measures does XM take to safeguard my funds?

XM safeguards customer funds by keeping them in segregated accounts, separate from the company’s operations cash, in case of the broker’s financial issues.

 

 

XM Safety and Security

 

XM Account Types

 

🔎 Account Type🥇 Micro Account🥈 Standard Account🥉 XM Ultra-Low Account🏅 Shares Account
☑️ Best SuitedIdeal for beginnersIdeal for casual tradersIdeal for day traders, scalpersIdeal for longer-term strategies and investment
📈 MarketsAllAllAllShares, Share CFDs
💴 CommissionsNoneNoneNone$1 per share
📉 PlatformsAllAllAllAll
📊 Trade Size0.01 – 100 lots0.01 – 50 lots0.01 – 100 lots1 – 50 lots
💶 Minimum Deposit5 USD5 USD5 USD10,000 USD

 

XM Micro Account

 

The XM Micro Account is an excellent choice for new traders entering the forex markets with a small initial commitment. This account is designed to facilitate trading in smaller lot sizes, with lots consisting of 1,000 units of the base currency, much smaller than the typical 100,000 units.

It caters to a global audience by providing diverse base currency options such as USD, EUR, and GBP. The leverage ratio adjusts according to the account balance, offering flexibility and a controlled environment for risk management.

Notably, this account type includes negative balance protection, an average spread of 1.7 pips for key pairs such as EUR/USD, no commission fees, and a high limit of 300 lots for maximum open or pending orders.

On MetaTrader 4 and 5, the minimum trade volume is 0.1 lot, allowing for hedging and accommodating Islamic traders through a particular account option. The lowest deposit requirement is only $5, making it an affordable and practical option for beginners.

 

XM Account Types

 

XM Standard Account

 

The XM Standard Account is designed for a broader range of traders, from beginners to more seasoned investors. It streamlines trading by focusing on simple bid-and-ask prices free of additional commission expenses.

This account allows trading in typical lots of 100,000 base currency units and supports the same base currencies as the Micro Account. Like the Micro Account, it offers customizable leverage settings based on account balance, ensuring appropriate risk management for various trading methods.

The account retains the same average spread of 1.7 pips on key currency pairings such as EUR/USD while charging no commissions. The maximum number of open or pending orders is limited to 300 lots, with a minimum trade volume of 0.1 lot.

Hedging is permissible, and the account has an Islamic Account option. The minimum deposit remains $5, making it an intriguing option for traders seeking a blend of usefulness and affordability.

 

XM Account Types

 

XM Ultra-Low Account

 

The XM Ultra-Low Account is a specialized offering for currency pair traders seeking competitive pricing. It offers slender spreads starting at 0.7 pips for commonly traded pairs like EUR/USD and a commission-free structure.

Traders can choose between Standard Ultra, which involves a position size of 100,000 units, and Micro Ultra, which caters to smaller trading volumes of 1,000 units.

The account maintains the same leverage choices as its predecessors, ensuring adaptability to different account sizes and risk preferences. The Ultra-Low Account also includes negative balance protection for retail accounts, ensuring traders’ losses do not exceed their account balance.

It allows for many open or pending orders, with a cap set at 300 items, allowing traders to execute their trading strategies.

 

XM Account Types

 

XM Shares Account

 

The XM Shares Account directly exposes traders to major firms and banks. This account type converts traders into shareholders, entitling them to dividends proportional to their investment.

It operates without leverage, purely on the MT5 platform, and is only available through XM businesses regulated by the Belize FSC.

The account is only denominated in USD and allows you to trade individual shares. It does not support negative balance protection and has a spread set by the stock exchange. Commissions start at $1 per share, with a limit of 50 lots for open or pending orders.

The minimum transaction volume is 1 lot, and hedging is not permitted. The account has lot-limits based on each share and offers an Islamic Account option. The minimum deposit is $10,000, much more than other account types, reflecting the account’s concentration on more serious, equity-oriented traders.

 

XM Account Types

 

XM Demo Account

 

The XM Demo Account provides a risk-free introduction to XM’s trading environment, allowing new traders to practice and improve their trading skills. This trial account uses virtual funds to simulate real-market circumstances without putting any money at risk.

Traders can use XM’s trading interface to test strategies for various markets, including forex, indices, stocks, and commodities. It is vital to remember that this account has a limited lifespan; if it is inactive for more than three months, it will expire. This feature promotes constant engagement and learning.

 

XM Demo Account

 

XM Islamic Account

 

The XM Islamic Account is accessible in all three primary account types: micro, standard, and ultra-low. It meets the needs of Islamic traders by providing a swap-free trading environment with no additional fees.

This is a notable divergence from industry norms, as brokers frequently charge administrative fees rather than swaps on Islamic accounts.

Clients who use the MetaTrader 4 or MetaTrader 5 platforms provided by Trading Point of Financial Instruments Ltd. (Cyprus) can choose this account to ensure compliance with Islamic finance principles while accessing the entire range of XM’s trading services.

 

 

Does XM offer an account type with ultra-low spreads?

Yes, XM offers an Ultra-Low Account with spreads as low as 0.6 pips on the EUR/USD currency pair.

 

Are there different leverage options available across XM account types?

Yes, XM offers numerous leverage possibilities, including up to 1:1000 for smaller account balances, which vary according to the account type and size.

 

 

XM Islamic Account

 

How To Open an XM Account

 

To register an account with XM, follow these steps:

 

  • ✅ Go to the XM website and click “Open a Real Account.”
  • ✅ Choose an account type. XM provides several account options to accommodate different trading styles and needs. The most common account kinds are the Micro Account, Standard Account, and Zero Account.
  • ✅ Complete the account application form. The application form will request basic personal information such as your name, address, and contact information. You must also select a trading platform (MT4 or MT5) and specify your account leverage.
  • ✅ Verify your identity. XM is required by law to authenticate the identities of all of its customers. You can accomplish this by uploading copies of your government-issued identification and proof of address.

 

 

Fund your account. Once your account has been validated, you can fund it with various methods, including bank wire transfers, credit cards, and e-wallets.  Once your account is funded, you can begin trading instantly.

 

 

What documents do I need to open an account with XM?

To open an account with XM, you must supply identification documents such as a passport or ID card and proof of residency in the form of a utility bill or bank statement.

 

How can I register for an XM Ultra-Low Account?

You can sign up for an XM Ultra-Low Account by going to XM’s website, clicking ‘Open a Real Account,’ selecting the Ultra-Low Account option, and following the registration steps.

 

 

How To Open an XM Account

 

XM Trading Platforms and Software

 

XM MetaTrader 4

 

XM offers MetaTrader 4 (MT4), a platform that has garnered widespread acclaim among traders on a global scale. The popularity of MT4 can be attributed to its seamless blend of user-friendliness and robust functionality.

Notably, MT4 distinguishes itself through its adaptable interface, permitting users to tailor the platform’s layout to align with their preferences, enhancing their overall trading experience.

A key hallmark of MT4 is its inclusivity, as it accommodates an extensive spectrum of languages, rendering it accessible to a diverse and international audience. This multi-language support underscores the platform’s commitment to catering to the needs of a global clientele.

MT4 further bolsters its reputation by incorporating advanced technical analysis tools. These tools are indispensable for traders, as they provide access to various time frames, a rich array of indicators, and essential drawing tools that are instrumental in conducting comprehensive market analyses.

 

XM MetaTrader 4

 

XM MetaTrader 5

 

MetaTrader 5 represents a significant advancement over its predecessor, incorporating additional features and capabilities. Designed to accommodate the needs of both novice and seasoned traders, MT5 offers an expanded toolkit for market participants.

A notable enhancement is introducing support for both hedging and netting, affording traders a broader spectrum of choices in devising their trading strategies. This versatility enables traders to align their tactics precisely with their specific objectives.

Further enhancing its utility, MT5 incorporates an economic calendar as a valuable resource for staying abreast of market events and news.

This feature gives traders the insights to make more informed and calculated trading decisions, thereby mitigating risks and maximizing opportunities.

 

XM MetaTrader 5

 

XM Mobile App

 

The XM mobile application is meticulously crafted to deliver an uninterrupted and seamless trading experience to users on both Android and iOS devices. It places a paramount emphasis on security, offering login options based on device compatibility, such as fingerprint and face recognition.

This not only ensures a high level of security but also enhances the convenience of access.

One of the app’s standout features is its ability to provide real-time notifications and alerts about market dynamics and account updates. This feature enables traders to remain well-informed, even away from their workstations.

Furthermore, the application equips users with essential charting and analytical tools at their fingertips, granting easy access to critical information indispensable for informed decision-making.

In addition to its robust analytical capabilities, the XM mobile app boasts extensive trading functionality. Users can effortlessly execute trades, swiftly manage positions, and monitor real-time prices, facilitating sound trading decisions regardless of location.

 

 

What trading platforms does XM offer?

XM provides the industry-standard MetaTrader 4 and MetaTrader 5 platforms, known for their reliable operation and user-friendly interfaces.

 

Is there a mobile trading option available with XM?

Yes, XM has a mobile trading app that works on Android and iOS smartphones, providing secure access and extensive trading capabilities.

 

 

XM Mobile App

 

XM Fees, Spreads, and, Commissions

 

XM Spreads

 

XM has designed its spread structure to be flexible and responsive to various trading styles and preferences. The brokerage firm offers variable spreads that adjust in line with market conditions, effectively emulating the dynamic environment of interbank forex markets.

For high-profile currency pairs such as EUR/USD, XM’s competitive edge is reflected by exceptionally low spreads starting from just 1 pip.

However, it should also be noted that the exact amount varies depending on account type – traders utilizing an Ultra-Low account will typically benefit even further from reduced costs.

It is recommended that individuals looking into or engaged in frequent trades or those following scalping strategies pay special attention to this aspect as it can significantly impact their overall transactional expenses.

 

XM Commissions

 

XM’s compensation framework varies depending on the type of account and traded instrument. Popular types of accounts, such as Micro, Ultra-Low, and Standard Accounts, do not incur commission fees for forex or CFD transactions due to XM factoring in their fees into spreads that are raised proportionately to operational expenses.

Conversely, traders utilizing Shares Account should expect a vastly different fee system structure: commissions start at $1 per share for stocks like Amazon or Apple, followed by incremental increases based on stock liquidity before reaching up to $9 per share on other instruments.

This tiered approach reflects discrepancies associated with trading volumes derived from distinct shares’ levels of market fluidity thereby contributing towards differing costs levied during trades involving varying financial instruments via XM.

 

XM Overnight Fees

 

Overnight fees, also known as swap fees, are a crucial part of trading with XM, particularly for positions held overnight.

These fees differ depending on several parameters, including the type of financial instrument, the direction of the position (long or short), and the magnitude of the trade. For example, a long position in EUR/USD results in a swap of -8.48 pips, while a short position results in 1.52 pips.

Similarly, the long swap on the US100 Cash is -3.29 pips, while the short swap is 0.63 pips. For XAU/EUR, the long swap is -21.46 pips, while the short swap is 15.81. NGAS Cash costs are -0.6 pips for long positions and -2.37 pips for short positions.

Understanding overnight fees is critical for traders looking to manage their trading costs and overall profitability efficiently.

 

XM Deposit and Withdrawal Fees

 

An advantageous aspect of trading with XM is the absence of deposit or withdrawal charges. In essence, traders have unhindered liberty to transfer their funds within and outside their respective trading accounts without bearing supplementary expenses from XM.

Through this strategy, the overall quality of a trader’s experience is improved by curbing operational costs, enabling them to manage and allocate capital resources while maintaining efficiency adeptly.

 

XM Inactivity Fees

 

XM has implemented a charging scheme for dormant accounts. If a live trading account falls dormant after 12 months, it is subject to a $15 maintenance fee. Following the initial charge, the account incurs a $5 monthly inactivity fee.

This cost applies as long as the account is dormant. Traders should know these costs and manage their accounts properly to avoid excessive expenses.

 

XM Currency Conversion Fees

 

Transaction costs associated with currency conversion apply to traders who engage in transactions involving multiple currencies. Such a fee is levied on deposits or withdrawals made by traders in non-base account currencies.

This cost varies depending on the specific currency pair and is calculated using prevailing exchange rates.

Therefore, it is vital for traders to fully comprehend these expenses, as they can significantly impact overall trading costs, especially when dealing with varying foreign denominations.

 

 

Are there withdrawal fees when I take money out of my XM account?

No, XM does not charge withdrawal fees, so you can transfer funds from your account without incurring additional charges.

 

What kind of fees should I expect for inactivity on my XM account?

XM charges a one-time $15 inactivity fee after 12 months of dormancy, followed by a $5 monthly fee if the account stays inactive.

 

 

XM Fees, Spreads, and, Commissions

 

Which Markets Can You Trade with XM?

 

XM provides a comprehensive choice of 55 currency pairs, including major, minor, and exotic currencies. This comprehensive range allows traders to participate in a variety of currency markets around the world, capitalizing on opportunities in different economies and responding to global financial events. Furthermore:

 

  • ✅ With a selection of 31 cryptocurrencies, XM allows traders to explore the dynamic and quickly expanding crypto market. This range comprises major cryptocurrencies, allowing traders to profit from the volatility and growth potential of this relatively new asset class.
  • ✅ XM offers an astounding 1,337 stock CFDs, spanning a wide range of multinational firms. This variety enables traders to speculate on the performance of numerous companies across industries, providing a wide range of portfolio diversification and exposure to global stock markets.
  • ✅ The platform provides eight commodities for trading, allowing traders to diversify their portfolios beyond typical financial products. Commodities trading can act as a buffer against inflation and market volatility, providing an alternative investment opportunity with distinct market characteristics.
  • ✅ With 20 equity indices accessible, XM caters to traders interested in larger market trends. These indexes represent numerous worldwide marketplaces, allowing traders to speculate on entire industries or economies, which can be less volatile than individual stock trading.
  • ✅ XM offers five precious metals for trading, including gold and silver, which have traditionally served as safe havens during economic difficulty. Trading precious metals can be an effective strategy for portfolio diversification and protection against currency changes and inflation.
  • ✅ Offering eight distinct energy commodities, XM allows traders to participate in a key segment of the global economy. Energy commodities such as oil and natural gas are critical for comprehending and speculating global economic trends and geopolitical developments.
  • ✅ The platform provides direct access to 100 individual shares, enabling traders to participate in specific companies. This option suits those with specific industry knowledge or preferences, providing a more focused investing strategy than wide index trading.

 

 

Finally, XM offers 7 turbo stocks, a one-of-a-kind instrument allowing fast, short-term trading. Turbo stocks are intended for traders seeking rapid market moves and quick profits, adding a high-risk but possibly high-reward component to their trading portfolios.

 

 

What types of forex pairs can I trade with XM?

XM allows you to trade over 55 forex currency pairs, including major, minor, and exotic, catering to various trading methods.

 

Can I trade cryptocurrencies with XM?

Yes, XM trades around 30 cryptocurrencies as CFDs, allowing you to speculate on the price swings of prominent digital currencies.

 

 

Which Markets Can You Trade with XM

 

XM Leverage and Margin

 

XM provides a wide range of leverage choices, from conservative 1:1 to aggressive 1000:1, for beginner and expert traders. With this versatility, you may adjust your trading strategy to your risk tolerance and capital.

However, handling XM’s leverage and margin system necessitates thoroughly comprehending the subtleties.

 

Understanding Leverage

 

Leverage effectively increases your trading power, allowing you to handle positions much greater than your deposited cash. Consider having $1,000 and utilizing 100:1 leverage to trade a currency pair such as EUR/USD.

This leverage effectively converts $1,000 into $100,000 of trading power. This increased gain potential increases potential losses.

 

Margin Explained

 

Margin is the amount of money required to maintain a leveraged position. In the preceding example, with 100:1 leverage and a EUR 100,000/USD trade, your margin would be $1,000 (1% of $100,000). This effectively serves as a security deposit for your broker, covering any potential losses.

 

XM’s Dynamic Leverage

 

Leverage on certain assets at XM, such as cryptocurrency, is dynamic and adjusts in response to trading activity. As volume increases, so does the required margin percentage, resulting in less effective leverage. This helps to manage risk in volatile markets.

 

Leverage and Account Equity

 

Your account equity is the total worth of your trading account, which includes both open positions and available funds.

As your positions change, so does your equity. Maintaining adequate free margin (the gap between used margin and total equity) is critical for avoiding margin calls and potential stop-outs.

 

Margin Calls and Stop-Outs

 

Margin calls notify you when your account equity falls below a specific threshold (50% of the required margin), suggesting the possibility of surpassing your available funds.

If you do not reply to the call by adding funds or selling positions, your broker may automatically close positions (stop-out) to safeguard your account from future losses.

 

Leverage Risks

 

While leverage might boost earnings, it can also dramatically increase losses. Using excessive leverage without effective risk management might rapidly empty your account. XM suggests avoiding high leverage, especially for novices.

 

Choosing the Right Leverage

 

Risk tolerance, trading expertise, and instrument choice determine the optimum leverage. Start with lower leverage if you are new to trading or want a more conservative approach. Remember, leverage is a tool, so use it carefully.

 

Managing Leverage Responsibly

 

XM provides tools such as stop-loss orders and risk management resources to assist you in efficiently managing leverage. Use these tools with a well-defined trading strategy to reduce risk and optimize your trading opportunities.

 

 

Is leverage available for all XM trading instruments?

Yes, most XM trading instruments allow for leverage, but the maximum leverage amount varies depending on the account type and the item being traded.

 

What happens if my account falls below the required margin with XM?

If your account falls below the needed margin, XM will send a margin call; if levels continue to decrease, your positions may be immediately canceled to avoid further losses.

 

 

XM Leverage and Margin

 

XM Deposit and Withdrawal

 

XM offers traders multiple trusted Deposit Options and Withdrawal methods, including Credit/Debit Cards, Bank Wire Transfers, and WebMoney

 

🔎 Payment Method🌎 Country💰 Currencies Accepted⏰ Processing Time
💳 Credit CardAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 5 days
↪️ Debit CardAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 5 days
📈 Bank Wire TransferAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR1 – 5 days
📉 Local Bank TransferAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR1 – 5 days
📊 SkrillAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 1 day
📌 NetellerAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 1 day
📍 WebMoneyAllUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant – 1 day

 

XM Deposits

 

How to Deposit using Bank Wire

 

Navigate to the “Funding” area of your XM Member Area.

 

  • ✅ Select “Bank Wire Transfer” as the deposit method.
  • ✅ Select your selected currency and enter the deposit amount.
  • ✅ Download and complete the wire transfer instructions specific to your bank.
  • ✅ Make the transfer from your bank account using the information supplied.

 

 

Inform XM about the transfer via their web form or email (optional).

 

How to Deposit using Credit or Debit Card

 

Select “Credit/Debit Card” as your deposit method in the “Funding” section.

 

  • ✅ Enter your card information (number, expiration date, CVV), currency, and amount.
  • ✅ Verify your identity using the requested SMS or OTP code.
  • ✅ Click “Deposit” to authorize the transaction using your bank’s security system.

 

 

Funds should be immediately credited to your XM account.

 

How to Deposit using Cryptocurrency Wallets

 

Select “Cryptocurrency Wallets” from the “Funding” menu.

 

  • ✅ Select your desired cryptocurrency (Bitcoin, Ethereum, Litecoin, etc.).
  • ✅ Enter the amount you want to deposit and copy the created cryptocurrency address.
  • ✅ Open your cryptocurrency wallet and make a transfer to the given address.

 

 

The funds should be reflected in your XM account within minutes, subject to network confirmation times.

 

How to Deposit using e-wallets or Payment Gateways

 

Select your preferred e-wallet or payment gateway in the “Funding” section.

 

  • ✅ Log in to your preferred provider or establish an account if necessary.
  • ✅ Enter your deposit amount and follow the on-screen instructions to confirm.

 

 

Following a successful transaction, funds should be instantly credited to your XM account.

 

 

XM Deposits

 

XM Withdrawals

 

How to Withdraw using Bank Wire

 

Obtain access to your XM account.

 

  • ✅ Go to the “Withdrawal” area and choose the “Bank Wire” withdrawal option.
  • ✅ You must enter your bank’s name, account number, SWIFT or BIC code, and any other necessary information along with the withdrawal amount.

 

 

Review and verify the transaction. Processing bank wire withdrawals could take two to five business days.

 

How to Withdraw using Credit or Debit Card

 

Navigate to the ‘Withdrawal‘ area after logging into your XM account.

 

  • ✅ Select “Debit or Credit Card” as the mode of withdrawal.
  • ✅ Choose the card you want to use and enter the amount you want to withdraw (the card must have been used for a deposit earlier).

 

 

Verify the information and submit your request.

 

How to Withdraw using Cryptocurrency Wallets

 

Log into your trading account at XM.

 

  • ✅ In the ‘Withdrawal‘ column, choose ‘Cryptocurrency Wallet.’
  • ✅ Input the withdrawal amount and the wallet details for your cryptocurrency.

 

 

Verify the information and send in your withdrawal request. Depending on the blockchain network, the withdrawal may take longer to reach your cryptocurrency wallet.

 

How to Withdraw using e-wallets or Payment Gateways

 

Go onto the XM platform and log into your account.

 

  • ✅ Select your preferred e-wallet or payment gateway under the’ Withdrawal’ section (Skrill, Neteller, etc.).
  • ✅ Indicate the withdrawal amount and complete any e-wallet information that may be required.

 

 

Review and verify the withdrawal. E-wallet withdrawal requests are often handled in a day or two.

 

 

How can I deposit into my XM trading account using a bank wire?

To deposit funds into your XM account via bank wire, go to your XM Member Area, select ‘Bank Wire Transfer’ as the deposit method, and then follow the on-screen instructions to complete the transfer.

 

Are there any fees for withdrawing from my XM account to my credit card?

No, XM does not charge fees for withdrawing funds to a credit card. However, your bank may charge transaction costs.

 

 

XM Withdrawals

 

XM Educational Resources

 

XM offers the following Educational Resources to traders:

 

  • ✅ XM Live is a dynamic platform facilitating daily interactions between traders and esteemed financial market professionals. This comprehensive offering includes live webinars, Q&A sessions, and real-time trading displays in specialized segments like “Pip my Trades.” The platform also fosters engaging dialogues about equities and innovative market concepts.
  • ✅ XM offers an elaborate schedule for its live education programs. These comprehensive sessions cover many topics, including market overview, art acquisition and divestment techniques, scalping strategy nuances, indicator masterclass instructional, and cryptocurrency analysis. Our curriculum design is customized to cater to traders’ diverse skill levels, addressing their learning requirements in-depth.
  • ✅ XM provides free live currency webinars in several languages, seven days a week. The webinars are led by experienced forex professionals covering various forex and CFD trading elements.
  • ✅ XM regularly arranges forex seminars in multiple global cities. Knowledgeable educators conduct these seminars and encompass various subjects such as technical analysis, trading strategies, and methods. The workshops focus on practical implementations like intraday trading tactics.

 

 

and much, MUCH more!

 

 

Are XM’s educational resources available in multiple languages?

Yes, XM’s instructional tools, like webinars and tutorials, are available in multiple languages, serving a global audience.

 

What types of educational resources does XM offer for beginner traders?

XM provides a variety of educational materials for beginners, such as educational videos, platform tutorials, and live education sessions in the Beginner Room.

 

 

XM Educational Resources

 

XM Pros and Cons

 

✅ Pros❎ Cons
XM provides both MetaTrader 4 and MetaTrader 5, which are known for their cutting-edge technology and user-friendly interfacesThe forex fees are average compared to other brokers, which may be a disadvantage for forex traders
XM offers trading in over 1,000 financial instruments across many asset classesXM's product portfolio is less competitive than other major brokers
XM employs variable spreads to provide traders with tighter and more accurate quotesXM charges an inactivity fee
XM offers 24/7 customer care in 30 languages, allowing for secure connection with a dedicated teamXM services are unavailable in Iran, Somalia, Afghanistan, North Korea, Canada, and the United States
XM provides a few account types, including Ultra-Low, Micro, Standard, and Zero accounts, to fulfill the needs of different tradersFCA regulations prevent UK clients from trading cryptocurrency CFDs
XM provides instant deposit and withdrawal options, including bank transfers, credit cards, and e-payments like Skrill and Neteller, with no feesXM's maximum leverage varies per client jurisdiction, potentially limiting trading methods for certain traders

 

 

Our Review Methodology:  For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.  Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.  Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.

 

 

Addendum/Disclosure:  No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

 

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all South African investors.  Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

 

 

In Conclusion

 

According to our research, XM stands out as a forex and CFD broker with a strong reputation thanks to its adherence to regulatory standards and commitment to offering a safe trading environment.

Its wide choice of trading instruments, which includes a large selection of currency pairs, CFDs, and cryptocurrencies, appeals to a diversified clientele.

The platform’s integration of the user-friendly yet powerful MetaTrader 4 and MetaTrader 5 platforms improves the trading experience with additional tools and features.

Furthermore, XM’s training resources and customer support, available in many languages, reflect a dedication to empowering traders of all experience levels.

The broker’s fee structure, which includes cheap spreads, no withdrawal fees, and a variety of account options, provides flexibility and cost-efficiency.

Overall, we can conclude that while there are certain drawbacks, such as average currency fees and limited services in certain countries, XM’s entire package makes it an appealing option for traders looking for a dependable and complete forex and CFD trading platform.

 

 

Frequently Asked Questions

 

Can I use leverage to trade on XM?

Yes, XM has various leverage options, ranging from conservative to aggressive, allowing you to customize your risk exposure. Remember to utilize leverage responsibly.

 

Are there any bonuses or promotions available at XM?

Yes, XM occasionally gives bonuses and promotions to new and existing customers. However, always read the terms and conditions before accepting any offer.

 

Is XM a safe broker?

Yes, XM is a safe broker, as multiple reputable financial regulators, including CySEC, ASIC, and IFSC, regulate it. These rules ensure that XM follows strict financial standards and practices, resulting in a secure trading environment.

 

What are XM’s fees and commissions?

XM’s fees and commissions differ depending on the account type and the instruments traded. They often provide competitive spreads with low fees.

 

Does XM offer customer support?

Yes, XM provides multilingual customer service around the clock via various channels such as live chat, phone, and email.

 

How long do XM withdrawals take?

XM withdrawals normally take 24 hours to process, though this can vary based on the withdrawal type and the client’s bank processing times. Clients should check with their banks for additional processing time outside XM’s control.

 

Does XM offer different account types?

Yes, XM provides a range of account types to accommodate different trading styles and needs, such as Micro, Standard, Ultra-Low, and Share accounts.

 

Where is XM based?

XM is situated in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission. Furthermore, many businesses are registered in various jurisdictions to meet international regulatory norms.

 

Does XM offer educational resources?

Yes, XM offers numerous educational tools, such as webinars, articles, and video lessons, allowing traders to build knowledge and confidence.

 

What can I trade with XM?

XM allows clients to trade various financial assets, including over 55 FX currency pairs, numerous CFDs on stock indices, commodities, precious metals, energy, and over 30 cryptocurrencies. This broad portfolio caters to a variety of trading styles and methods.

 

What is the minimum deposit at XM?

The minimum deposit at XM is $5, providing flexibility for experienced and inexperienced traders.

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