XM Broker Review in 2023

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Choosing the right broker, is one of the most important things to consider when trading. There are several factors to be taken into account when choosing your broker. Some of these are, regulations, commissions on trades, methods of payment, platforms provided, speed of trade execution, etc. This article, will discuss in detail about each of the important factors of the XM broker.

Assets Available

6 Asset Clases - Forex, Stocks, Commodites, Equity Indices, Precious Metals and Energies.

Regulated by


No. of Trading Plaforms

16 Platforms


Up to 500:1


As low as 0.6 pips on major currency pairs. Spreads are variable

Demo Account

Virtual balance up to $100,000

Education Provided 

Free step by step guide for beginners

Methods of Payment

Credit Card, Debit Card, Skrill, Neteller, Bank Wire and Union Pay

Open Live Account and get up to $5000 in bonuses. 

XM Group was founded in 2009 and currently has over 3.5 million clients worldwide. XM is an award winning trading platform. It is also highly regulated by multiple authorities such as Australian Securities and Investment Commission, Cyprus securities and exchange commission

Trading Platform

XM is an award winning trading platform. XM provides 16 types of trading platforms, which includes platforms for desktop, mobile and tablet devices. The main platforms are Metatrader 4/5 based. With the MT4 platform provided, they focuses on the quality of execution of trades. The MT5 platform provided by XM includes 300 shares in addition to the MT4 features. 

Instruments Available For Trading

XM provides 6 different asset classes/instruments for trading. Available instruments in XM are Forex, stocks, commodities, equity indices, precious metals and energies. 


They offer more than 55 currency pairs for you to trade which includes majors, crosses and exotics. They also provides you with up 500:1 leverage. They don't have hidden charges and provides very low/tight spreads. 


You get several benefits of trading stocks with XM, these include speculation on market up trends or down trends. There are also no extra fees. They also allow you to access to over 1000 different stocks. That said, this platform is not the best for stock trader. The main focus of XM is Forex. 


You get the same benefits as trading stocks when trading commodities. At the time of writing this article they have less than 10 different commodities to trade with. 

Equity Indices

XM broker provides several types of equity indices to trade with. These include indices like, S&P 500, ASX200, Nikkei 225 and many more. This broker is good for both long term and short term trading strategy. 

Precious Metals

They allow you to trade precious metals such as gold and silver with 500:1 leverage. They don't charge you extra fees when trading these metals. Other metals they provide include platinum and palladium. 


Energies provided by XM mainly includes oil and gas. XM allows you to trade on a margin as low as 5 USD with no extra fees. 

Commisions And Spreads

XM has very tight spreads which can be low as 0.6 pips on all major currency pairs. Spreads are higher for other currency pairs. The thing to keep in mind is that XM doesn't operate with fixed spreads, but operates with variable spreads. There is a major advantage for using a broker with variable spreads. That is, they do not apply trade restrictions around the time of news releases. Another feature XM provides is something called fractional pip pricing. This allows you to trade with much tighter spreads.  


XM provides flexible leverage between 1:1 and up to 500:1. Even though this is the case, we do not recommend you to use too much leverage when trading. The more leverage you use, the more riskier it gets. 

Education Provided 

Another great feature about XM is the education they provide. They have a great guide for beginners. Even though they don't teach up to date trading strategies to be profitable, it is still a great way to get started with Forex trading. Also, their education is completely free. 

Methods Of Payment (Deposit and Withdrawal)

Before we talk about the methods of payments, we need to talk about whether XM is trust worthy or not. Since XM is regulated by major regulators, XM can be trusted. The methods of payment includes Credit Card, Debit Card, Skrill, Neteller, Bank Wire and Union Pay. These methods are valid when you deposit or withdraw from your XM trader account. 

Demo Account 

XM does provides a demo account like most other brokers do. They provide you with a virtual balance of $100,000 to trade with. It's a good way to practice your trading but you still need to remember that trading with virtual balance is only taking virtual risk. Therefore, eventually you got to trade with real money. We personally do not recommend you to demo trade for more than couple months, because it does not help with your emotional strength when it comes to trading. 

Do We Recommend XM?

XM is a great and a trust worthy broker. We do recommend XM. They provide you with great features and great customer support. If you want to use XM as your broker and get up to $5000 bonuses click the button below. 

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