XM COM review

About the broker

XM COM is a reputable online trading platform that operates under regulations in multiple countries, including Cyprus, Australia, UAE, UK, and Belize. This global presence ensures that traders can access the platform with confidence, knowing that it adheres to strict regulatory standards.

Fee Structure

One of the standout features of XM COM is its fee structure. Traders will be pleased to discover that there are no fees on deposits or withdrawals, making it a cost-effective choice for those looking to manage their trading capital efficiently. However, it's important to note that there is an inactivity fee of $15, which kicks in after 90 days of account inactivity, and thereafter, a monthly fee of $5.

Low Barrier to Entry

For those just starting, XM COM offers a low barrier to entry with a minimum deposit requirement of only $5. However, it's worth mentioning that the minimum initial deposit for the Shares Account is set at 10,000 USD. Additionally, once an account is archived, it cannot be reactivated, so traders should be mindful of their account activity.

Diverse Range of Assets

Traders on XM COM have access to a diverse range of assets, with over 1200 options to choose from. The platform offers leverage up to 1:30, except for the Shares Account, which does not offer leverage. The available trading markets encompass CFDs on Stocks, Commodities, Cryptocurrencies, Forex, Indices, and Stocks, providing ample opportunities for diversification.

Multiple Account Currencies

XM COM supports multiple account currencies, including USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR, allowing traders to work in their preferred currency.

Demo and Live Accounts

For those who want to practice and test their strategies before committing real capital, XM COM offers a demo account. The platform also offers a variety of live account types, including Micro, Standard, XM Ultra Low, and Shares Account. Additionally, Islamic accounts are available for those who adhere to Islamic finance principles.

Security Measures

Security is a top priority for XM COM, with features like negative balance protection and participation in a compensation fund to safeguard traders' interests. The platform also keeps funds on segregated bank accounts, ensuring that traders' capital remains separate from the company's operational funds.

Asset Diversity

When it comes to asset diversity, XM COM excels. With 57 Forex pairs, 100 Shares, 31 Cryptocurrencies, 14 Indices, and 8 Commodities, traders have a plethora of options to choose from.

Competitive Fees and Spreads

Fees and spreads are competitive on XM COM. Forex spreads start from 0.6 pips, while for Micro and Standard accounts, spreads begin at 1 pip. Share trading fees are determined by the underlying exchange, and Indices and commodities also offer competitive spreads, starting from 0.00010 and 0.3, respectively.

Trading Platforms

Traders can access XM COM through the popular MetaTrader 4 and MetaTrader 5 platforms, providing a familiar and user-friendly trading experience. The platform supports mobile trading and is compatible with Mac devices, ensuring flexibility for traders on the go.

Payment Methods

When it comes to managing finances, XM COM offers a range of payment methods, including Bank Transfer, Credit/Debit Card, Neteller, Skrill, UnionPay, WebMoney, XM Card, and M-Pesa. Deposits and withdrawals can be processed through these methods, and the withdrawal processing time is instant, ensuring quick access to funds.

Summary

In summary, XM COM is a well-regulated and cost-effective trading platform with a diverse range of assets, competitive fees and spreads, robust security measures, and user-friendly software. Whether you are a novice trader or an experienced one, XM COM provides a comprehensive trading environment to meet your needs.

User ratings and reviews of broker XM

XM has a rating of 4.2 out of 5 stars on TrustPilot, where users praise the excellent customer support and fast withdrawal process, but some highlight issues with the bonus program and account management. On Google Play, the XM app has a rating of 4.3 out of 5 stars, users appreciate the user-friendly interface and efficient trading tools, although some mentioned occasional technical problems. On the Apple App Store, the XM app also has a rating of 4.3 out of 5 stars, where users praise the robust features and ease of use, but point out the need for improved educational content.

Is XM a scam or a safe broker?

XM is considered a safe and reliable broker, regulated by several major financial authorities. These include the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC). Due to its reputation, regulation, and quality of services, XM is generally considered a trustworthy broker.