Forex Broker XM Group Review 2022

What is XM Group？ Is it safe to invest？

With an overall Trust Score of 84 out of 99, XM Group is regarded as average-risk. XM Group is not a publicly-traded company, does not have a bank, and is regulated by two tier-1 regulators (high trust), two tier-2 regulators (average trust), and one tier-3 regulator (low trust). The Australian Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA) have approved XM Group (FCA). Find out more about Trust Score.

XM Pros

• XM Broker guarantees 100% order execution, with 99.35% of orders delivered almost instantly. There are no guaranteed requotes;

• There is no “markup” on narrow market spreads (broker's margins over the spread);

• And there are over 1,000 trading instruments. More than 55 currency pairs, including CFDs on cross rates, metals (including palladium and platinum), commodities (cocoa, cotton, grain), and stocks are available for trading;

• There is no commission for replenishment and withdrawal of money. XM Broker bears all payment system commission costs

• Provides round-the-clock support in more than 30 languages five days a week.

XM Cons

• Passive investment services (social trading platforms, PAMM accounts);

• Broadening their trading platform selection. Although the broker provides 16 terminals, all of them are MT4 and MT5 modifications for desktop, browser, and mobile trading.

Disclaimer Regarding Forex Risks

Trading securities entails a significant amount of risk. There is significant exposure to risk in margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, including but not limited to leverage, creditworthiness, limited regulatory protection, and market volatility, which can significantly affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or will result in no losses.

XM Market Instruments

CFDs and forex are available to all clients, but real stocks are only available to IFSC-regulated clients. Popular asset classes, such as real ETFs, bonds, and options, are absent.

XM is a CFD and forex broker that offers a large number of currency pairs for trading. However, when compared to some XM alternatives, the CFD selection is limited.

Disclaimer: CFDs are complex instruments that carry a high risk of rapidly losing money due to leverage. When trading CFDs with this provider, 75.59 percent of retail investor accounts lose money. You should think about whether you understand how CFDs work and whether you can afford to lose your money.

XM Market Instruments Brokerage Comparison

Use Online Brokerage Comparison to know what brokers suites your trading needs.

XM Fees

XM has low CFD trading fees and no withdrawal fees. Forex and stock index fees, on the other hand, are only average, and there is an inactivity fee.

Pros

• Low Trading Fees

• Low Stock and ETF Fees / Free Stock Trading

Cons

• Withdrawal fee for bank (wire) transfers

• Inactivity fee

XM Deposit and Withdrawals

The deposit and withdrawal processes at XM are quick and inexpensive, and you have several options. You can choose from 11 base currencies at XM, and there are no deposit fees.

XM Minimum Deposit and Withdrawal

It costs $5 to open a MICRO, STANDARD, ULTRA LOW, or SWAP FREE account. It is $10,000 for SHARES accounts.

XM Spreads

XM provides variable spreads as low as 0.6 pips We do not re-quote: our clients are given the market price that our system receives directly.

XM Leverage

XM provides leverages between 1:1 – 888:1. The leverage depends on equity,

XM Trading Platforms

• MetaTrader 4 (MT4) - XM was the first to offer an MT4 platform with a focus on trading execution quality. Trade on MT4 with no requotes or rejections and leverage ranging from 1:1 to 888:1.

• MetaTrader 5 (MT5) - The XM MT5 includes all of the innovative features found in the XM MT4, as well as 300 CFDs on stocks (Shares), making it the ideal multi-asset platform. Trade Forex and CFDs on Stocks, Cryptocurrencies, Gold, Oil, and Equity Indices on a single platform with no rejections or requotes and leverage of up to 888:1.

XM Research and Education

XM provides a wide range of technical tools as well as an excellent economic calendar. On the negative side, it does not provide any fundamental asset data.

You can learn at XM in the following ways:

• Platform tutorial videos

• XM Demo accounts

• Videos for general education

• Webinars

The majority of the educational content on XM is video-based. You can delve deeply into topics such as an introduction to financial markets, money management, trading strategies, and technical analysis. Each chapter contains several lessons, all of which are only available to XM subscribers.

In addition to these pre-recorded materials, they provide live training both online and offline for people with varying levels of experience.

XM Customer Service

XM's customer service is responsive and available in a variety of languages via email, phone, and live chat. The relevance of the answers is fine. However, phone support is not available on weekends.

Pros

• Phone Support

• Live Chat

• Fast Response Time

Cons

• No 24/7 Support

XM can be Reached at:

• Phone

• Email

• Live Chat

The responses are quick, and the relevance is mostly satisfactory.

Live chat responds quickly to the first message but becomes a little slower with subsequent questions. We discovered that we needed to ask the same question several times to get a clear answer.

Although XM phone support was quick, we didn't always get relevant answers. For example, we didn't get a definitive answer to our question about how swaps are calculated. On other days, the answers were spot on - it's a hit-or-miss situation.

Email support is excellent.

Is XM Safe？

Through its parent company, XM is regulated by three financial authorities worldwide, including the top-tier ASIC. It is a well-known brand, but it is not traded on any exchange and does not provide financial information.

Pros

• Negative balance defense

• ASIC is the top-tier regulatory body

Cons

• Does not have a banking license.

• There is no stock exchange listing for this company.

• Financial data is not available to the general public.

XM's Competitors and Alternatives？

• FXPro vs XM

• FXTM vs XM

• FPMarkets vs XM

• Markets.com vs XM

Making Use of Expert Advisors in Forex Trading

An expert advisor (EA) is software that tells you when to make trades in the world of foreign exchange (forex) trading. You can even instruct the software to initiate and execute trades based on your trading criteria.

Expert advisors are most commonly used in the MetaTrader 4 and MetaTrader 5 forex trading platforms. You can use an existing EA or develop your own based on the trading parameters you prefer. These EAs are written in MetaQuotes Language, a programming language (MQL).

Learn more about expert advisors and how they can assist you in your trading at.

FAQS

Is my money secure？

XM is run by XM Global Limited, which ensures the security of client funds and consumer protection by applicable laws and regulations. As a result, among the measures taken by XM are the following:

• Client funds are kept separate - Client funds are transferred to a segregated client bank account maintained by the Company. These funds are off-balance-sheet and cannot be used to pay creditors in the unlikely event that the Company goes bankrupt.

• Accounts at financial institutions - We maintain client and operational bank accounts with reputable financial institutions.

• The regulator's supervision - We are required to meet stringent financial requirements as a regulated Securities Service Provider Licensee. As a result, we are required by law to keep enough liquid capital on hand to cover client deposits, potential fluctuations in the Company's currency positions, and any outstanding costs. In addition, an external auditor audits the Company's financial statements on an annual basis.

Does XM provide cent accounts？ Is the deposit denoted in cents？

We provide MICRO trading accounts, in which 1 micro lot (pip) equals 10 USD cents. However, your deposit is always visible in the exact amount; for example, if you deposit $100, your trading account balance will also be $100.

How do I set up a trading account in XM？

It's easy and quick. Click Open a Real Account, fill out the form, and you will receive an email with your login information, which you can use to access our secure Members Area. By selecting the Deposits tab from the main menu, you will be able to fund your trading account.

What is the time it takes to open a trading account in XM？

It takes less than 5 minutes if all details are correctly filled out.

How do I get started trading with XM？

If you have already opened a trading account, received your login information via email, submitted your identification documents for account validation, and made a deposit, the next step is to download your preferred trading platform.

What types of trading accounts do you provide in XM？

• 1 micro lot equals 1,000 units of the base currency.

• STANDARD: One standard lot is equal to 100,000 units of the base currency.

• 1 micro lot equals 1,000 units of the base currency.

• Ultra-Low Standard: One standard lot is equal to 100,000 units of the base currency.

• Swap-Free Micro: One micro lot equals 1,000 units of the base currency.

• Standard Swap-Free Lot: A standard lot is 100,000 units of the base currency.