This is a very honest XM broker review.
Are you considering using the XM broker for trading?
I have been using XM broker for some years now. Therefore this review is from a first-hand experience using this broker.
As opposed to other Xm broker reviews that you will find online; I try to keep this simple to only necessary information that can help you make a better trading decision.
I am going to answer the following questions
- Is XM broker safe, regulated and legitimate?
- What is XM broker spread and Leverage?
- Is this broker good for beginners?
- What is XM broker minimum deposit?
- Which XM Broker Account type should you open?
- What are Xm broker Withdrawal and Deposit Methods
In the table below; I have a summary of the XM broker review
| Year Founded | 2009 |
| Minimum Deposit | $5 |
| Free Bonus | 50% Deposit Bonus |
| XM Spread | as low as 1 pip/ 0.6pip |
| Cent Account? | Micro Account Available |
| Leverage | Btw 1:1 to 1:888 |
| ECN? | No |
| Deposit Methods | Credit Cards, Popular E-Wallets and Bank Transfer |
| Withdrawal Methods | Credit Cards, Popular E-Wallets and Bank Transfer |
| MT4 | Yes |
| MT5 | Yes |
| Mobile App | Yes |
| Copy Trade | No |
| Trust Score |
Get 20 – 100% Bonus on Your Deposit When You Register With XM Broker.
Hurry!!
Is XM Broker Safe And Regulated?
Yes XM broker is safe and regulated.
Forex brokers like Xm broker are answerable to regulatory bodies which helps protect traders’ capital and also put the brokers in check.
As for XM Broker, it is regulated by the international financial service commission(Belize).
While I have never had a problem with XM broker, I am not 100% satisfied that this broker is only regulated by a single regulatory body.
Below are some of the recent awards won by the XM broker.
XM Broker Recent Awards
- Best Trading Experience awarded by – Ultimate Fintech
- XM Broker is the Best FX Service Provider – Awarded by City of London Wealth Management Awards 2021
- Best Broker in Customer Service -Awarded by FX168 in December 2020
XM Broker Review – FAQS
It is $5. Although the minimum deposit, would depend on the account type that you open with XM broker, the minimum deposit for their basic account type is $5.
But Yet, they have a shares account that has a minimum deposit of $10,000.
The XM broker spread also depends on the account type that you open with them, but the basic account types have a spread as low as 1 pip.
While the XM Ultra-Low Account has a spread as low as 0.6 pip.
the XM broker’s highest leverage is 1:888. This spread is quite low compared to other forex brokers.
No, you cannot withdraw the XM broker deposit bonus except you make profits. Therefore, if you trade with the bonus and then make some profits; then you would be able to withdraw it.
XM broker is one of those brokers that do not charge commissions on traders.
All XM Broker Account Types
The XM broker provides 4 different account types that you can pick from.
These account types also have Islamic account alternatives for customers and traders with the Islamic faith.
Let me show the four account types and then the details that could help you pick the best account type for your trading purposes.
Micro Account Type – Spread, Leverage, Minimum Deposit
Base Currency: USD, EUR, GBP, JPY, CHF,AUD, HUF, PLN, RUB, SGD, ZAR
Spread on all majors: As low as 1 Pip
Minimum Deposit: $5
Leverage: 1:1 to 1:888 ($5 – $20,000), 1:1 to 1:200 ($20,001 – $100,000), 1:1 to 1:100 ($100,001 +)
Lot restriction per ticket: 100 Lots
Standard Account Type – Spread, Leverage, Minimum Deposit
Base Currency: USD, EUR, GBP, JPY, CHF,AUD, HUF, PLN, RUB, SGD, ZAR
Spread on all majors: As low as 1 Pip
Minimum Deposit: $5
Leverage: 1:1 to 1:888 ($5 – $20,000), 1:1 to 1:200 ($20,001 – $100,000), 1:1 to 1:100 ($100,001 +)
Lot restriction per ticket: 50 Lots
XM Ultra Account – Spread, Leverage, Minimum Deposit
Base Currency Options: EUR, USD, GBP, AUD, ZAR, SGD
Spread on all majors: As low as 0.6 Pip
Leverage: 1:1 to 1:888 ($5 – $20,000), 1:1 to 1:200 ($20,001 – $100,000), 1:1 to 1:100 ($100,001 +)
Minimum Trade Volume: Standard Ultra: 0.01 Lots, Micro Ultra: 0.1 Lots
XM Broker Review – Trading Platforms
The following is the list of trading platforms offered by the XM Broker.
- MT4 For PC and MAC
- MT4 For Android and MAC
- MT5 For PC and MAC
- MT5 For Android and MAC
- XM mobile app for Android and IOS
XM Broker Trading Instruments
- Forex
- Stocks
- Commodities
- Equity Indices
- Precious Metals
- Energies
XM Broker Traders Education
XM broker has a lot of educational materials for beginner traders.
These training materials are grouped on the XM broker website;
- Educational Videos
- Forex Webinars
- Forex Seminars
XM Broker Review Summary
With a trust score of 80%, opening a trading account with XM broker isn’t a bad idea at all.
Have you used the XM broker in the past? kindly share your experience in the comment box below.
Leave a Reply