XM is a global forex and CFD brokerage firm founded in 2009. With its headquarters in Belize, the company serves 5M+ clients from 190+ countries worldwide. The broker claims to have a wide range of trading instruments and accommodating terms to facilitate retail and professional clients. However, the company lacks competitive variety amid trading platforms. Due to the absence of XM’s proprietary trading platform, clients must go for the industry standard trading platforms like MT4 and MT5. Investors can also use the XM mobile app to trade while commuting.
XM Main Features
| Minimum Deposit
|FSC & CYSEC
| Tradable Symbols
| Number of Pairs
There are 1,500+ XM trading instruments and the broker seems committed to providing first-rate services in the foreign exchange market. While clients have 1,250+ stock CFDs, 50+ forex pairs, 13+ equity indices, 30+ crypto CFDs, and 15+ commodities to trade on XM. The broker also offers 100+ UK, USA, & Germany real shares. Since the company doesn’t deal in real cryptocurrencies, clients registered with the broker can only trade them as derivatives.
Signing up with the broker is relatively quick but requires account verification. After filling up the registration form, clients need to upload the supporting documents to complete the KYC process so they may add funds to their accounts and start placing trades. The firm’s flexible account types cater well to the trading needs of new and seasoned professionals. Moreover, a virtually funded demo account can be used as a trading simulator to experience live market conditions without risking real money. Islamic accounts are also available to enable shariah practising clients to trade preferred financial instruments without compromising their religious beliefs.
There are 25+ payment methods available to help you finance your account or request withdrawals, and the minimum deposit to open an account with the broker is $5. There is no fee on deposits and withdrawals. Besides keeping clients’ funds in segregated bank accounts, XM hosts advanced security protocols, including SSL encryption and two-step authentication preventing unauthorised access. In addition to negative balance protection, funds compensation service is available to claim your losses in case the company faces liquidation.
The broker’s pricing structure is in line with average industry standards. While the company employs a variable spread charging policy, spreads on different tradable assets vary depending on your selected account types. Although the company makes most of its earnings via spreads, it also applies commission on trades executed with zero accounts. Your leverage options at XM are up to 1:1000, depending on your selected account type and jurisdiction. For example, clients based in Europe may only access leverage of up to 1:30 due to a strict regulatory regime. While the broker doesn’t restrict clients from employing various trading strategies, clients can use hedging and scalping techniques seamlessly. The company’s instant trade execution and presence of guaranteed stop loss help clients deal with slippage issues effectively. Notably, the broker has a rich research and educational section to help clients enhance their learning exposure. Free VPS and multilingual round-the-clock customer support are also part of the XM services.
This XM review will take a deep look at various factors you must consider while signing up with the company. We’ll discuss XM fees, so you know whether the broker employs market competitive pricing structure. We’ll also explore XM trading platforms to find their useability and look into available account types to help you select the one that suits your trading needs. A simple step-by-step guide will also follow, explaining how to open an account with XM. Pros and Cons of signing up with the broker and customers’ feedback on different platforms like Reddit, Quora, Forexpeacearmy, and Trustpilot will also be looked into.
- Multiple Regulations
- Flexible Account Types
- User-Friendly Trading Platforms
- Rich Educational Resources
- Low Deposit Requirements
- Negative Balance Protection
- Islamic Accounts
- No US Clients
- Inactivity Fee
- No Proprietary Trading Platform
XM holds multiple regulations worldwide. The broker is part of XM Group which comprises two entities, XM Global and Trading Point Holdings Ltd.
Trading Point Holdings Ltd: The entity is fully authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The official address is at 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus.
- Registration Number: HE251334
- Licence Number:120/10
XM Global Ltd: This entity holds regulations from the Financial Services Commission (FSC) with a registered address at Suite 404, The Matalon, Coney Drive, Belize City, Belize.
- Licence number: 000261/309
XM services are available all across the globe except for a few jurisdictions, such as Iran, Somalia, Afghanistan, North Korea, Canada and the United States.
Available Assets at XM
XM’s product portfolio isn’t as competitive as other top-of-the-line brokers. However, it still provides 1,500+ financial instruments with sufficient tradable assets under each asset class.
Clients can trade cryptocurrencies on XM. The broker offers 30+ crypto assets to trade as CFDs. However, crypto CFDs aren’t available to UK clients amid FCA restrictions.
A stock market allows investors to buy and sell securities while enjoying low-risk exposure. There are 1,250+ stock CFDs that you can trade on XM.
For investors looking to broaden their portfolios beyond the typical stock and bond options, investment in commodities is also one of the available options. Some investors even base their decisions on commodity prices rather than stock prices during market instability. XM’s commodities listing comprises 15+ tradable assets, including energies and precious metals like Silver and Gold.
When you trade indices, you can get exposure to a whole economy or sector with just one position instead of opening several trades with different companies. The broker allows you to trade 13+ indices, such as AUS200, EU50, US500, etc.
Trading forex is a simple way to enter global markets. While investors mostly prefer trading major currency pairs, minor and exotic forex pairs become equally favourite during volatile market conditions. XM offers 50+ forex pairs to trade.
A spread is a difference between a financial instrument’s ‘bid’ and ‘ask’ prices. It is a fee that XM charges for the services it offers. The broker’s spreads on all types of assets seem to be competitive. The minimum spreads for forex and other tradable instruments are listed in the table below.
XM’s maximum leverage differs based on your jurisdiction and your selected asset class. For example, clients based in Belize and other Non-European countries have access to leverage of up to 1:1000 for trading currencies and commodities, while they can trade indices for maximum leverage of up to 1:100. Similarly, stock and crypto CFDs are available to them for maximum leverage of up to 1:10 and 1:250, respectively.
On the other hand, Europe and UK-based clients can only use maximum leverage of up to 1:30 due to the strict regulatory framework imposed by their respective regulators.
|Leverage (Up to)
Major Forex Pairs
|Minor Forex Pairs
Exotic Forex Pairs
XM Fees & Commissions
When you use XM to trade, you will be subject to fees related to both trading and non-trading activities. It seems as though the broker adheres to the industry standards concerning its pricing structure. However, the company’s spreads are subject to change depending on your chosen financial instruments.
Clients are likely to incur some trading fees and commissions at XM. Below, we discuss them separately.
The broker’s spreads are low across the board. Clients can trade major forex pairs such as the EUR/USD with a spread from 1.6 pips. On the other hand, the minimum spread to trade precious metals like Gold is 25 pips.
Except for a zero-spread account, the broker doesn’t charge a commission from clients. When traders with an XM Zero account to enter or exit a position, XM deducts a commission fee from their account. The company uses transactional volume to determine the commission rate. Clients pay a $7 commission fee for every $100,000 traded. Share trading comes for a minimum of 0.10% charge in the UK, and Germany whereas the broker charges 0.04$ commission per share besides the $1 commission on each transaction.
Rollover Fee/Swap Rate
At XM, clients must pay rollover interest (swap costs) for all overnight positions. The broker doesn’t apply a swap fee on positions opened after 22:00 GMT until they remain open the next day.
Non-trading fees include deposit and withdrawal charges, inactivity or currency conversion fees. Let’s take a look at each of them.
Deposit and Withdrawal Fee
XM doesn’t charge any fee on deposits and withdrawals.
XM charges a $5 inactivity fee each month from clients with dormant accounts having no activity in the previous 90 days.
XM Trading Platforms
Since the broker doesn’t have a custom-built desktop trading platform, clients may use the industry’s renowned trading platforms, MT4 and MT5, to explore financial markets. Both platforms are accessible via desktop and mobile phones. Clients can also use the broker’s own mobile trading app without compromising the need of mobility. Let us quickly share some features of the trading platforms offered via each channel.
Desktop Trading Platform at XM
XM is one of the MT4 brokers. The broker also facilitates trading via MT5 desktop trading platform. Both platforms are powered by MetaQuotes and come equipped with powerful tools and features required for a meaningful trading endeavour. While the look and feel of both trading platforms is almost similar, we’ll review their main highlights.
Both desktop trading platforms are really easy to use thanks to their well-designed interface. The features are intuitive, and different parts of the apps are grouped together on a single dashboard.
The real-time status of the market is displayed in the top left panel, allowing traders to monitor market activity while using the navigation window.
A variety of charts displayed in a window on the right side of the screen provide insight into market data. Clients can view underlying instruments in 9-time frames on MT4 and 21-time frames on MT5 to better understand their price direction and make informed trading decisions.
Tools and Indicators
The MT4 comes with 30+ trading indicators and 24+ analytical tools to help clients perform in-depth technical analyses. On the other hand, MT5 desktop terminal has 38 trading indicators and 44 analytical tools making it a little superior to the MT4 trading platform.
A terminal window can be seen beneath the charting window, displaying information such as current market positions, trading balances, broker emails, and the latest news.
Those who look for enhanced market exposure to a public database of trading methodologies and automated trading bots can use MT5 – the upgraded version of the MT4 trading platform.
Clients can also view their trading history using the desktop trading platforms to assess their past performance and review their trading strategies to make necessary amendments.
How to Open an Account and Trade on the XM Desktop Platform
Signing up with XM is fairly quick. However, you need to verify your account before the broker allows you to add funds to your account or start placing trades. Here is the step-by-step process of opening an account with XM and initiating trades.
- Visit the broker’s official website ”www.xm.com”; and click on the green highlighted button with the caption ”Open an account” on the top right edge of the homepage.
- Enter your personal details on the signup page, such as name, email ID, mobile phone number, country of residence and preferred language.
- Select your preferred trading platform and account type from the drop-down menu and mark the confirmation box as checked.
- Enter your date of birth and provide your address details. You also need to confirm whether or not you are a US Citizen for tax purposes.
- Choose the base currency for your account and preferred leverage level.
- Provide your employment status and indicate the amount you plan to invest. You also need to confirm the purpose of your trading.
- Confirm your trading exposure, your estimated net worth, and average annual income.
- Choose your account password, mark your acceptance of the applicable terms and conditions, and click on the open a real account button.
- Check your email and click the link received from XM to verify your email address to complete the signup process.
- Access the dashboard using your account ID and password.
- Navigate to the payment section and select the action type. For example, select deposit since you wish to add funds to your account.
- Select your preferred payment method, such as Debit card, Credit card, Skrill, Neteller, Perfect Money, Wire transfers, etc.
- Enter the amount you wish to deposit. You need to fund your account with $5 at least.
- Confirm your payment details and authorise them to complete funds transfers.
- Click on the trading platforms and access the desktop trading terminal.
- Navigate to the market watchlist and select your preferred trading instrument, eg., EUR/USD.
- Right-click and select the open a new order option.
- Configure your trading details, such as amount, order execution type, trading volume, stop loss and take profits, etc.
- Click the buy or sell button to initiate a position.
XM Mobile Trading App
Those who don’t want to compromise the need for mobility may access the market by using XM’s proprietary mobile trading app, or the third-party mobile platforms on their Android and iOS-based mobile phones and tablets. All mobile trading apps are readily available to be downloaded from the Google Play Store and App Store. We put the Android version of the XM’s mobile trading app through its paces to check out its features and useability. Let us share our findings below;
Mobile App User Interface
XM’s mobile trading app has a convenient interface and a powerful search engine. Unfortunately, it doesn’t support biometric logins and Face ID. Both the layout and the ease of usage impressed us greatly. All of its functions are straightforward to access.
The mobile trading platform has numerous language options, just like the desktop version. Changing the language on your mobile device is pretty simple. You can use the menu option to do so. The app supports 14 languages, enabling you to select your preferred one. Depending on your tastes, you can also change the app’s theme colour to light or dark mode.
This tab displays your favourite financial instruments. You can add as many tradable assets as you like using the “plus” button available on the top-right corner of the page.
The instruments page shows different asset classes, such as forex, CFD and Stocks. You need to click any options to view available instruments under each asset class.
Clients can access market insights using the discover tab. You can either enter the name of your preferred trading symbol or select it from the drop-down list.
Order Types at XM
The mobile trading app supports the same order types as accessible via the desktop terminal, such as market orders, limit orders, etc.
Alerts and Notifications
Fortunately, you can set up notifications using the mobile trading app. The app will generate messages for all closed trades and pending orders. This feature looks the same as offered via XM’s desktop trading platform.
How to Open an Account and Trade CFDs on XM Mobile App
- Visit Google Play Store or App Store to download the supported version of the XM mobile app on your mobile device.
- Click on the register an account button and select the relevant option, i-e real or demo account.
- Select the country of your residence and click next.
- Select your preferred account type, trading platform and base currency for your trading account.
- Enter your personal details, such as name, phone number, and email address.
- Provide your address details, and confirm your postal code, then click next.
- Enter your date of birth, select your preferred language and confirm your taxation status.
- Choose your preferred leverage level. The broker offers maximum leverage of up to 1:1000. However, if you are based in the UK or Europe, 1:30 will be the maximum leverage available for you.
- Indicate the amount you wish to invest, your intended purpose of trading and your employment status.
- Confirm your net worth and estimated annual income.
- Confirm your trading knowledge and experience and indicate how many times you have traded CFDs over the past twelve months.
- Choose a password for your trading account and click next.
- Read the terms and conditions, mark your acceptance, and click the submit button.
- Check your email and click the link received from XM to verify your email ID and access the trading dashboard.
- Access the dashboard using your login credentials.
- Click on the menu option in the top left corner of the mobile dashboard.
- Tap on the deposit button to access the supported payment methods and enter your desired deposit amount. Please note that the minimum deposit amount should be equal to or more than $5.
- Enter the payment details and authorise them to complete funds transfers.
- Navigate to the instruments tab and select your favourite financial market.
- Select your desired tradable instrument, e.g., GBP/USD, etc.
- Configure your position and define your preferred execution type.
- Finally, click the buy or sell button to place an order.
XM Account Types
XM offers multiple account types with varying trading requirements to accommodate traders of all skill levels. Clients also have the option of opening multiple accounts with the broker simultaneously. For instance, a user can hold up to 8 trading accounts at a time. Below is a quick review of the supported account types at XM.
The virtually funded demo account makes up part of the broker’s offerings. Clients can use the demo accounts to practise their trading skills without risking their real funds. The company provides a virtual balance of up to $100,000 for one month. However, clients can open the demo account repeatedly using different email IDs.
Well suited for clients with low risk-profile and limited funds, the Micro account comes with a minimum deposit of $5. Clients can trade a minimum trade volume of 0.1 lots on both MT4 & MT5 trading platforms. While the spread for micro account holders starts at 1.0 pips, the company does not charge any commission in this account.
The broker facilitates most of its clients via the standard account. Although the services and features available appear identical to those in the micro account, the difference primarily lies in the size of a contract which is 100,000 for standard account holders as opposed to 1000 in micro-accounts. The minimum trading volume for this account is 0.01 lots.
Those looking for tight spreads may prefer signing up for the Zero account at XM. While the minimum spread in the zero accounts is 0.0 pips, the broker also charges a commission of up to $7 per round trip on trading stocks and currencies. All other features stay the same as offered in the Standard account.
This account is only available in selected regions. While you can trade a minimum of 1 share, the spread charge on trading shares depends on the concerned exchange. While all other features look identical to other account types, the company doesn’t allow hedging techniques in the share account. Like all other accounts, the share account is also convertible to swap-free Islamic accounts upon request. Clients need to deposit a minimum of $10,000 to sign up for the Share account on XM.
Clients who don’t feel confident trading sizable lots can now sign up for Ultra-low accounts. The accounts come with a minimum lot size of 0.01 lots. While other trading conditions look similar to the other accounts offered, the broker doesn’t allow swaps in the ultra-low account.
Islamic (Swap Free) Accounts
XM also offers swap-free Islamic accounts to shariah practising traders. Since the company doesn’t charge interest on overnight positions, clients can trade their preferred financial instruments without going against their religious beliefs. Although Islamic accounts are not offered as a stand-alone product, clients can request the company to switch their conventional account types to Islamic ones.
XM Payment Methods
XM supports several payment methods for deposits and withdrawals. Below we’ll have a quick review of both deposit and payment methods.
Clients can make deposits using a variety of payment methods, including debit cards, credit cards, electronic wallets (Skrill, Neteller), bank transfers, and other local payment methods.
The minimum deposit to open an account with the broker is $5, and the broker doesn’t charge any fee on deposits. Since third-party payments are not accepted, you must fund your account using the payment source that matches your name.
The broker processes all payments within 24 hours, excluding bank transfers. Depending on your bank’s jurisdiction, it can take between 3 to 5 business days for wire transfers to reach your account.
|Deposit Processing Time
|One Business Day
|One Business Day
|One Business Day
|One Business Day
|One Business Day
|One Business Day
|One Business Day
|One Business Day
|Up to 3-5 Business Days
XM process withdrawal request via the same methods that clients use at the time of deposits. The broker hasn’t stipulated a minimum withdrawal amount, so you can withdraw funds as much as you like. XM doesn’t charge for withdrawals either. The average time the company takes to release your funds via card payments and e-wallets is one business day. However, bank transfers can take up to 5 business days to reflect in your account.
How to Withdraw Funds from XM?
To initiate a withdrawal request, you may follow the steps listed below.
- Login to your trading account.
- Navigate to the members’ area and click on withdrawals.
- Select the payment method you used for deposits
- Enter the amount you wish to withdraw
- Click confirm to initiate the withdrawal request.
Education at XM
XM offers great research and educational facilities for clients to learn and grow. Market overview, XM Research, Newsfeed, Trade Ideas, Economic Calendar, Technical Summaries, XM TV, and Podcast are just some of the subheadings you’ll find under the Research area. On the other hand, educational videos, online webinars and tutorial guides make the educational section look quite promising. Let’s quickly review what’s in all these heads.
You can see the most recent political and social headlines that could affect the foreign exchange market under the “market overview” page. Clicking on the “News” page allows you to access articles covering the fundamental outlook on individual assets. Moreover, technical analysis posts on a variety of currency pairings, expert commentary, and in-depth studies on the most actively traded forex pairs are all part of XM’s extensive research offerings.
While buy and sell signals on various assets are included in the trade ideas and technical reviews, traders can use the economic calendar to track upcoming major economic events. A trader’s confidence can be boosted by listening to XM’s trading podcast, which features informative and insightful interviews with successful traders. There is no better market commentary available than what you’ll see on XM TV regarding various financial issues.
The instructional videos, which number close to fifty, cover material spread throughout seven distinct courses. The broker begins by teaching traders the fundamentals of forex and CFD trading, and gradually advances them to more complex topics. Furthermore, numerous articles provide in-depth information on various trading issues and general industry standards. Additionally, the broker regularly hosts live webinars. Customers who learn best in a live setting have access to complimentary webinar training. Notably, Market Pulse and Strategy Builders are the recent addition to the broker’s educational facility.
In short, the broker seems to be fully committed to providing clients with the next level of educational services by continuously adding more features and content.
XM Customer Support
XM pays special attention to customer service. The multilingual customer support stays available round the clock to offer you in-time assistance. A detailed FAQ section is also available to help you find resolutions to your queries and concerns on your own. However, you can always connect with the live support agent via telephone and live chat. Email correspondence is also an option for clients looking to escalate their issues with the broker in detail. Clients can also reach the company over Facebook, LinkedIn, Twitter, Instagram and Youtube. Should you wish to contact the company’s customer support, the following information might help:
Cyprus: +357 25029933
Australia: +612 8607 8385
Greece: +30 211 7700022
XM Online Reviews
What Reddit Users Say About XM
XM is one of the few brokers who have a good reputation among clients on Reddit. While reading through various posts, we observed that people like trading with the broker due to its user-friendly trading conditions and consider it one of the reliable forex trading platforms concerning withdrawals.
However, we also encountered a few posts where clients accused the company of price manipulation. According to the posts, the broker follows a dealing desk approach while processing clients’ orders. Nonetheless, most clients looked satisfied with the broker’s overall affairs. Essentially there are far more positive reviews about the broker on Reddit than those denouncing the company for specific reasons.
What Quora Users Say About XM
People hold different opinions about XM on Quora. While some clients believe the company is legitimate, others denounce it for withholding clients’ funds and unjustified account closures.
While sharing personal experience with XM, a Quora member said that he had been using the broker for more than three years and never faced any issues. However, he disliked the broker’s pricing structure. According to him, the company charges higher commissions than most other brokerage firms like Coinexx etc.
Some Quora members also claimed that no broker could be legitimate or scam in absolute terms. Instead, it is your experience with them which includes or excludes them from your good books.
Trustpilot Users Reviews About XM
Unfortunately, XM doesn’t hold a good reputation among clients on Trustpilot. With a total of 254 reviews posted on the platform so far, more than 50% of clients expressed their dissatisfaction with the company. The broker holds a rating of 2.4 out of 5 stars. According to customers, the company has a poor trade execution policy which typically results in slippage and makes you lose your funds despite incorporating a stop loss.
Clients also criticised the broker for its high spreads & commissions and poor customer support. Overall, the company seems to have failed to make a good impression on Trustpilot users.
ForexPeaceArmy Users Reviews
Like Trustpilot, the FPA community also seems divided concerning signing up with XM. Some clients appraised the broker for having ultra-low spreads and a fast withdrawal process, while others denounced the company for poor trade executions.
A client from Kenya even reviewed its rating from 1 to 5 stars on FPA after getting his dispute resolved with the broker. Anyhow, the company holds a rating of 3.092 out of 5 stars after 669 reviews.
Is XM Safe?
Yes! Given its multi-regulated framework, the availability of negative balance protection, guaranteed stop loss, and funds compensation scheme, the broker appears to be safe. The company keeps clients’ investments in segregated bank accounts and employs advanced security protocols to prevent unauthorised intrusions.
Other Products and Services at XM
Virtual Private Server (VPS)
In order to help their clients make the most of XM’s trade execution, the broker provides free VPS services. While trading at XM, clients don’t have to worry about computer malfunction, power outages, or slow internet connectivity. Clients with an account balance of at least $5,000 (or its foreign currency equivalent) are entitled to request for free Virtual Private Server (VPS).
XM advertises a bonus offer of up to 20% of the deposit amount under its promotional campaign. The broker names it a loyalty bonus offered to clients to encourage them to sign up and keep trading with XM.
Refer A Friend
Clients can also earn a commission of up to $35 for spreading word of mouth. However, the referral commission is transferred to your account only when your referee opens an account with the broker, deposits some funds and trades a specific amount.
XM is a competitive choice for novices as well as more experienced investors. Having regional offices in Greece, Cyprus and Australia, the company serves clients worldwide. While its product portfolio is not as extensive as other brokerages, clients can still find sufficient tradable assets to trade across multiple financial markets. The broker keeps clients’ investments in segregation with its own capital, ensuring clients have real-time access to their funds. Although the broker doesn’t have a proprietary trading platform, the company satisfied clientele trading needs with third-party trading platforms like MT4 and MT5. With small deposit requirements, XM makes it easy for everyone to come on board. Its instant trade execution policy accompanying guaranteed stops loss (GSLs) helps clients to avoid slippage issues. Flexible account types, rich educational resources, and round-the-clock customer service make it a value-for-money broker. However, the unavailability of the proprietary trading platform could become a point of concern for some traders.
In this review, we tried to cover XM in detail. Besides explaining the pros and cons of signing up with it, we also mentioned supported countries and listed tradable markets you can explore at XM. We also covered available trading platforms, trading and non-trading fees, educational resources and customer support, followed by a step-by-step process explaining how to open an account with the broker on desktop and mobile. Moreover, we shared clients’ reviews about the broker on different platforms such as Reddit, Quora, Trustpilot and Forexpeacearmy.
In conclusion, we addressed the most frequently asked questions (FAQs) to help clients know more about the broker. After reading this review, we believe you can certainly make an informed decision as to whether or not you should sign up with XM. However, the decision should be based on your discretion only. We strongly suggest you complete your homework before proceeding with it.
Q & A
Yes! XM is a multi-regulated broker. The company holds registration from the Cyprus Securities and Exchange Commission (CySEC) and Financial Services Commission (FSC).
XM broker minimum deposit is $5.
No! XM does not offer social trading services. Although the broker used to support social trading, it now seems to have quit offering it.
No! XM fees are in line with the average industry standards. While the broker keeps its trading cost competitive, it neither charges any fee on deposits and withdrawals nor applies any inactivity or account administration fee.
The maximum leverage to trade with on XM is up to 1:1000. However, clients based in countries with stringent regulatory outlooks may only access the maximum leverage of up to 1:30, like Europe and the UK.
Yes! You can invest in real shares on XM. Only shares from the USA, UK and Germany are real shares on XM.
No! You can’t buy Bitcoin on XM since the broker doesn’t deal in real cryptocurrencies. However, you can speculate on its prices and trade it using CFD contracts.
XM offers crypto trading to all its clients except for those based in the United Kingdom. That’s because FCA doesn’t allow brokers to offer crypto derivatives to UK citizens.
XM takes 1 business day to process all withdrawals except for wire transfers. The average time for bank wires on XM is 5 working days.
Yes! You can open a swap-free account on XM. However, you need to request the broker to convert your conventional trading account to a swap-free account after signing up since swap-free accounts are not available as a standalone product.
XM’s proprietary trading platform refers to the company’s mobile trading app that is available to download from Google Play Store and App store.
Signing up with XM broker involves filling up the registration form and completing the KYC process. You can find the step by step process of how to open an account with XM in this review.
You can read a detailed XM broker review in the broker review section on our website.
Yes! XM is a trustworthy broker that has been providing forex and CFD trading services for over a decade. The company holds multiple regulations, employs advanced security protocols, and offers fair trading conditions.