XM Broker Review 2024
Our comprehensive, independent review of XM broker covering trading conditions, platforms, spreads, fees, and overall user experience.
Our Rating
Based on our analysis and user feedback
Key Strengths
- Low $5 minimum deposit
- Tight spreads from 0.0 pips
- No requotes or rejections
- Excellent customer support
Considerations
- Limited cryptocurrencies
- No proprietary trading platform
- Limited education for advanced traders
XM Broker Summary
XM is a globally recognized forex and CFD broker offering trading on MT4/MT5 platforms with competitive spreads, low minimum deposit of $5, and excellent customer support in 30+ languages.
XM Trading Conditions Review
Account Types
XM offers several account types catering to different trading styles and experience levels:
| Account Type | Minimum Deposit | Spreads From | Leverage |
|---|---|---|---|
| Micro Account | $5 | 1 pip | Up to 1:1000 |
| Standard Account | $5 | 1 pip | Up to 1:1000 |
| XM Ultra Low | $50 | 0.6 pips | Up to 1:1000 |
| XM Zero | $100 | 0 pips + $3.5 commission | Up to 1:1000 |
Our XM review finds their account offering very competitive, with the $5 minimum deposit being one of the lowest in the industry, making trading accessible to beginners.
Spreads and Commissions
XM offers competitive spreads across all account types:
- Micro and Standard accounts: Spreads starting from 1 pip
- Ultra Low: Spreads from 0.6 pips
- Zero account: Raw spreads from 0 pips with a $3.5 per lot commission
When comparing to other brokers in our XM review, we find these spreads highly competitive, especially on the Zero account which is ideal for high-volume traders and scalpers.
Trading Platforms
XM supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms across multiple devices:
MT4 Platform
- Industry-standard forex platform
- User-friendly interface
- Expert Advisors (EAs) for automated trading
- Advanced charting capabilities
- Available on desktop and mobile
MT5 Platform
- Next-generation trading platform
- More timeframes and analytical tools
- Enhanced backtesting capabilities
- Access to more markets
- Available on desktop and mobile
Our XM review found the MT4/MT5 implementation to be excellent, with fast execution times and no issues with slippage or requotes, which is crucial for day traders and scalpers.
Customer Support
XM's customer support is available 24/5 through multiple channels:
- Live chat support with quick response times
- Email support
- Phone support in 30+ languages
- Comprehensive help center with guides and FAQs
In our XM review testing, support agents were knowledgeable, friendly, and quick to resolve issues, putting XM among the top brokers for customer service quality.
Education and Research
XM provides extensive educational resources for traders of all levels:
- Daily market analysis and news updates
- Video tutorials and webinars
- Economic calendar
- Trading guides and e-books
While the educational content is excellent for beginners and intermediate traders, our XM review found that advanced traders might need to supplement with additional resources.
Regulation and Security
XM maintains strong regulatory oversight:
- Regulated by multiple authorities including CySEC
- Segregated client funds for added security
- Negative balance protection
- Secure SSL encryption for all transactions
Our XM review confirms that the broker maintains high standards of security and regulatory compliance, giving traders peace of mind about their funds and personal information.
Final Verdict: Is XM a Good Broker?
Based on our comprehensive XM review, we can confidently recommend XM as a reliable and competitive broker suitable for traders of all experience levels. With its low minimum deposit, competitive spreads, multiple account types, and excellent customer support, XM stands out as a top choice in the forex and CFD trading industry.
The broker particularly excels in providing a user-friendly trading environment with the familiar MT4/MT5 platforms, fast execution, and no requotes policy. While there are some minor limitations in cryptocurrency offerings and advanced educational content, these are far outweighed by the overall package and value provided.
XM Review Summary
- Trading Platforms:
- Trading Conditions:
- Customer Support:
- Educational Resources:
- Mobile Trading:
Ready to start trading with XM?