XM Group Review

Lets First Go To The Bottom Line:

Aside from the fact that XM Group is a group of regulated online brokers, there are plenty of other compelling reasons why they topped my list of recommended forex brokers today. The wide range of tradable instruments, the multiple online trading platforms, the fast processing of withdrawals and the highly flexible trading conditions are just some of its strong advantages. An unlimited demo account and extremely low deposit is also worth mentioning. XM Group has all the attributes of being a trusted and superior broker for any forex and CFD trader.

Final Score: 86/100
Read Full Review…

 

Fill in The Form Below to Signup For Free!

XM Group Overview

Founded 2009 – Trading Point of Financial Instruments Ltd
2015 – Trading Point of Financial Instruments Pty Ltd
2016 – Trading Point of Financial Instruments UK Ltd
Platform MT4 for PC, MT4 for Mac, MT4 Multiterminal, MT4 WebTrader, MT5 for PC, MT5 for Mac, MT5 WebTrader, MT4 for iPhone, MT4 for Android, MT5 for iPhone, MT5 for Android, MT4 for iPad, MT4 for Android, MT5 for iPad, MT5 for Android
Minimum account size $5
Minimum lot size 0.01
Tradable assets 300+
Maximum margin 1:500
Spread on EUR/USD 1.8 pips
Payment methods Multiple local payment methods
Demo account Unlimited time
Accepts US traders No
Regulated FCA (UK) – Trading Point of Financial Instruments UK Ltd (XMUK)
ASIC (AU) – Trading Point of Financial Instruments Pty Ltd (XMAU)
CySEC (CY) – Trading Point of Financial Instruments (XMCY)
Support Phone, Fax, Email, Live Chat
Website www.xm.com

 

Visit XM Site
Skip Content and Read the Bottom Line!

 

Pros

  • Fully regulated by CySEC, FCA and ASIC
  • Forex Islamic accounts available
  • Over 20 supported banking methods
  • Unlimited demo account
  • $5 minimum deposit

Cons

  • Deposits via PayPal not accepted

 
XM Group is a group of regulated online brokers. Trading Point of Financial Instruments Ltd is established in 2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC), Trading Point of Financial Instruments Pty Ltd is established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC) and Trading Point of Financial Instruments UK Ltd is established in 2016 and it is regulated by the Financial Conduct Authority (FCA). They are highly regarded for offering a range of MT4/MT5 platforms across various workstations but is this the only advantage that they have? Let’s find out in this review.

Platform

XM has an extensive range of MetraTrader 4 and 5 platforms that can be accessed using just one account. For desktops, it can be installed and run on both Windows and Mac operating systems while in the mobile platform, they have dedicated apps for smartphones and tablets that are running Apple or Android operating systems. They also have WebTrader platforms that can be accessed with any web browser. Practically speaking, they have every solution for almost any kind device or computer.

Such diversity earns a perfect Platform score of 10/10.

Design

XM definitely found a way to make their interface very inviting and this can be credited to their organized but simple layout. And regardless if you use the desktop, mobile or the web-based platform, you can easily log-in and trade without any delays or long waiting time.

This deserves a Design score of 5/5.

xm platform

Minimum Deposit

Opening a live account starts with just a minimum deposit of $5 which is extremely lower than the requirements of other forex brokers. Such affordability is an opportune way for those who want to start with a low trading capital and also for starters since there’s no need to deposit a very large amount and it effectively allows proper fund management.

This certainly tops the majority of forex brokers which is why XM gets a Minimum Deposit score of 5/5.

Minimum Lot Size

The minimum accepted lot size is 0.01 which is quite common with most brokers and this is an advantage because the investment amount can be set to an acceptable size.

XM receives a Minimum Trade score of 4/5.

Tradable Assets

This broker has more than 300 instruments which can be traded on the platform and this includes forex, cryptocurrencies, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs. This mixture of available assets opens a lot of chances to find an opportunity to earn and make profits.

Such diversity warrants XM a Tradable assets score of 4/5.

xm assets

Payouts

With XM’s tight spreads the prices don’t need to move as much in order to make a profit. The spread for the EUR/USD currency pair is 1.8 pips which is already considered to be better than what most brokers can provide.

This warrants XM a Payouts score of 8/10.

Withdrawal Time

All withdrawal requests are processed within 24 hours if the funds are transferred to XM Cards or any of the supported e-wallet methods. Credit/debit card and bank wires on the other hand can take 2 to 5 business days. Based on the several withdrawal tests that we made, they were able to fulfill these requests and we were able to get the money back just as they promised.

This level of speed gets a Withdrawal Time score of 10/10.

Deposit and Withdrawal Methods

They accept the most commonly used Local Payment methods today including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc. Their coverage is quite extensive and adds more flexibility on adding funds into the account.

XM earns a Deposit and Withdrawal Methods score of 5/5.

Customer Support

XM Group can be reached via phone, fax, email or live chat. That means you have the option to contact them in almost every channel possible and saving you a lot of time and effort. Based on our actual conversation with their support agent, we find them to be very direct in providing answers to any of our questions and we never experienced any sort of marketing schemes that other agents from other forex brokers usually do. Overall, our discussions with them ended with positive results.

For this XM gets a high score of 11/15 for Support.

xm support

Quoting Accuracy

It is always important to trade with a forex broker that has accurate market prices because this is where your decision will be largely based on. The good news is that the several tests that we’ve done with their platform showed no signs of delays or manipulation with their quotes and the same price is shown for both pre and post deals.

XM deserves a perfect Quote Accuracy Score of 10/10.

Reputation

XM Group is licensed and regulated by the Cyprus Securities and Exchange Commission, the Financial Conduct Authority and the Australian Securities and Investments Commission. This means that they are abiding by the rules and regulations that are set by these trusted financial authorities so you can trade with peace of mind.

Regardless of the fact that they are a regulated online broker, they are very popular in the forex trading community most of the reviews and comments praise them for having multiple online trading platforms and very flexible trading conditions.

This kind of credibility deserves an impeccable Reputation score of 14/20.

xm reputation
xm reputation
xm reputation

Conclusion

Aside from the fact that XM Group is a group of regulated online brokers, there are plenty of other compelling reasons why they topped my list of recommended forex brokers today. The wide range of tradable instruments, the multiple online trading platforms, the fast processing of withdrawals and the highly flexible trading conditions are just some of its strong advantages. An unlimited demo account and extremely low deposit is also worth mentioning. XM Group has all the attributes of being a trusted and superior broker for any forex and CFD trader.

Final Score: 86/100

 

Visit XM Site

 


21 Responses

Leave a Reply

You must be logged in to post a comment.