XM (xm.com) Overall rating
| Rating | Weight | |
| User Rating |
4.4 (188 reviews)
 |
3 |
| Popularity |
4.8
|
3 |
| Regulation |
5.0
|
2 |
| Pricing rating |
4.8
|
1 |
| Features |
Not rated
|
1 |
| Customer Support |
Not rated
|
1 |
Pros
- Highly regulated across multiple jurisdictions
- High user ratings with 4.4 out of 5 stars
- Offers high leverage options up to 1000:1
- Established broker with over a decade of experience
- Comprehensive range of tradable instruments
- Competitive forex spreads
- Strong deposit insurance and client fund protection
Cons
- Not publicly traded
- Does not provide financials publicly
- Higher crypto spreads compared to some competitors
- Mixed swap rates with some higher fees
We tested XM using real-money live accounts. Our reviews are unique in that they do not have any bias for or against any broker and are driven purely on the underlying data we compile from live account testing, regulatory data, and opinions from customers. We list all brokers and do not charge a fee for it. We offer additional visibility for a fee, but our review content cannot be influenced. Read our About Us page to read our editorial guidelines and how we make money.
Trustworthiness & Regulation
XM is a well-established broker, founded in 2009, and regulated by multiple authorities including CySEC in Cyprus, ASIC in Australia, FSC in Belize, and DFSA in UAE. With 183 total user reviews and 172 verified real trading account reviews, XM boasts a high user rating of 4.4 out of 5 and ranks 22 out of 1102 forex brokers based on user ratings.
Our experts also rank XM highly at 4 out of 1102 brokers. XM is a popular choice among traders, with a significant organic monthly web traffic of over 9.6 million visits, ranking 4th in organic traffic among brokers.
While XM has shown strong regulatory compliance and popularity, it's crucial to remember that even highly regulated and successful financial firms can face challenges. Investors should always stay informed and cautious.
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Trading Point of Financial Instruments Pty Ltd |
|
 |
|
|
30 : 1 | |
| Trading Point of Financial Instruments Limited |
|
up to €20,000
|
|
|
30 : 1 | |
| XM Global Limited |
|
|
|
|
1000 : 1 | |
| Trading Point MENA Limited |
|
|
|
|
30 : 1 |
Deposit Insurance
XM offers robust investor protection and also a deposit insurance and compensation scheme under some of its regulatory frameworks. For clients under CySEC regulation, there is a deposit compensation scheme that compensates investors if an authorized financial firm fails.
Additionally, XM ensures segregated client money, meaning that client funds are kept separate from the company's operational funds, providing an extra layer of security. The negative balance protection feature across all regulated entities further safeguards clients from losing more than their initial investment.
Spreads and Costs
XM offers competitive average spreads and costs compared to industry-leading brokers. When comparing averages across asset classes, XM’s forex spreads are in line with the market, while its crypto spreads are relatively higher.
Combined Spread/Commission Costs by Asset Class Compared to Market Leading Brokers
| Broker - Account Type | Crypto Average | Forex Average | Indices Average | Commodities Average |
|---|---|---|---|---|
| XM – Standard | 39.54 | 2.39 | 3.63 | - |
| FBS – Standard | 24.41 | 2.13 | - | 0.19 |
| IC Markets – Standard | 9.29 | 1.51 | 1.23 | 0.10 |
| RoboForex – Pro | - | 1.92 | - | 0.10 |
| FxPro – Standard | - | 2.56 | 3.68 | - |
| ThinkMarkets – Standard | 24.73 | 3.80 | 3.02 | 0.20 |
| IG – Standard | 51.55 | 2.16 | 3.23 | 0.23 |
Crypto averages comprise (BTCUSD, ETHUSD), forex averages comprise (EURUSD, USDJPY, GBPJPY, EURGBP, AUDNZD, CADCHF), indices averages comprise (US30, AUS200), and commodities average comprises (XAUUSD, XAGUSD) and that data is sampled every 10 seconds for 24 hours to calculate the average. Forex is stated in pips, and the others are stated in base currency. All spreads including both spread and commission calculated in.
Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool. A spread is the difference between the bid (sell) and ask (buy) price of an asset and can vary widely between brokers and account types.
Some brokers charge higher spreads but no commission, while others charge both, making it crucial to assess the total cost, which includes both spread and commission. Our values reflect this all-in cost. Note that some brokers may set low costs on popular pairs like EURUSD but higher rates on other instruments.
Many brokers also advertise "as low as" spreads that may not reflect the true average or include commissions. Comparing true all-in cost averages across various instruments and asset classes is vital for accurate assessment.
Combined Spread/Commission Costs Per Instrument Compared to Market Leading Brokers
| Broker - Account Type | BTCUSD | ETHUSD | EURUSD | USDJPY | GBPJPY | EURGBP | AUDNZD | CADCHF | AUS200 | US30 | XAUUSD | XAGUSD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| XM – Standard | 73.71 | 5.37 | 1.29 | 1.57 | 3.45 | 2.20 | 2.41 | 2.84 | 3.44 | 4.45 | - | - |
| FBS – Standard | 46.75 | 2.06 | 1.33 | 1.94 | 2.97 | 1.83 | 2.68 | 2.06 | - | 6.05 | 0.35 | 0.03 |
| IC Markets – Standard | 15.59 | 3.00 | 0.88 | 1.14 | 1.81 | 1.37 | 2.35 | 1.49 | 1.51 | 0.96 | 0.18 | 0.02 |
| RoboForex – Pro | - | - | 1.32 | 1.97 | 2.45 | 1.19 | 2.87 | 1.73 | - | - | 0.19 | 0.02 |
| FxPro – Standard | - | - | 1.32 | 1.64 | 3.51 | 1.58 | 3.90 | 3.40 | 4.73 | 2.63 | - | - |
| ThinkMarkets – Standard | 46.13 | 3.32 | 2.56 | 3.51 | 4.64 | 2.74 | 6.00 | 3.37 | 3.34 | 2.70 | 0.33 | 0.06 |
| IG – Standard | 98.00 | 5.10 | 0.81 | 0.99 | 3.28 | 1.45 | 3.04 | 3.37 | 2.64 | 3.82 | 0.44 | 0.02 |
Swap Rates/Financing Fees
Swap rates are the costs or earnings you incur for holding a position overnight. Positive swap rates mean the broker pays you, while negative swap rates mean you pay the broker.
XM's average swap rates are relatively high compared to the industry-leading brokers, which could lead to higher costs for traders holding positions overnight.
| Broker | Best | Average | NZDUSD Swap Short | NZDUSD Swap Long | USDJPY Swap Short | USDJPY Swap Long | XAUUSD Swap Short | XAUUSD Swap Long |
|---|---|---|---|---|---|---|---|---|
| XM | - | -5.29 | -0.15 | -0.19 | -3.73 | 1.12 | 19.67 | -48.45 |
| FBS | - | -4.38 | -0.14 | -0.06 | -2.87 | 0.63 | 6.05 | -29.90 |
| IC Markets | Best | -2.27 | -0.10 | -0.14 | -2.59 | 1.25 | 20.78 | -32.84 |
| RoboForex | - | -5.81 | -0.23 | -0.30 | -3.56 | 1.22 | -3.00 | -29.00 |
| FxPro | - | -4.03 | -0.14 | -0.15 | -3.33 | 1.02 | 19.15 | -40.75 |
| ThinkMarkets | - | -3.27 | -0.14 | -0.14 | -2.61 | 1.08 | 19.57 | -37.37 |
| IG | - | - | - | - | - | - | - | - |
Does XM Offer Islamic/Swap-free Accounts?
Islamic or swap-free accounts are designed for traders who cannot receive or pay interest due to their religious beliefs. XM offers Islamic accounts, which are swap-free and comply with Sharia law.
These accounts are available to all traders upon request and do not incur any swap or rollover interest on overnight positions. However, XM reserves the right to revoke the swap-free status if any form of abuse is detected.
Other Fees
Aside from spreads, commissions, and swap rates, XM charges other fees which include:
| Fee Type | Details |
|---|---|
| Withdrawal Fee | XM does not charge any fees for deposits or withdrawals. However, certain payment providers may have their own fees. |
| Inactivity Fee | XM charges a $5 monthly inactivity fee after 90 days of account dormancy. |
Comparison to other Brokers
When comparing XM to other industry-leading brokers like FBS and FxPro, XM stands out due to its high user ratings and extensive regulatory compliance. XM's average forex spreads are competitive, though its crypto spreads are higher.
XM's swap rates are generally higher, impacting the cost for traders holding positions overnight. However, the broker compensates with a strong reputation, high organic web traffic, and a wide range of tradable instruments.
Overall, XM remains a popular choice among traders seeking a reliable and well-regulated broker.
Trading Platforms - Mobile, Desktop, Automated
| Platform | Type | Automated Trading |
|---|---|---|
| MetaTrader 4 | Desktop, Mobile, Web | Yes, MQL4 (easy to learn) |
| MetaTrader 5 | Desktop, Mobile, Web | Yes, MQL5 (moderate to learn) |
XM offers MetaTrader 4 and MetaTrader 5 across desktop, mobile, and web platforms. Both platforms support automated trading through expert advisors (EAs) with MQL4 and MQL5 programming languages.
MetaTrader 4 is favored for its ease of use and vast library of existing EAs, while MetaTrader 5 provides advanced features and improved scripting capabilities.
Both platforms offer robust charting tools, a wide range of technical indicators, and high customizability for a comprehensive trading experience.
What Can you Trade?
| Asset Class | Number of Instruments |
|---|---|
| Forex CFD | 55 |
| Crypto CFD | 58 |
| Stock CFD | 1,406 |
| Stock Index CFD | 26 |
| Commodities CFD | 16 |
| ETFs | - |
| Bond CFD | - |
| Futures CFD | 5 |
XM offers a diverse range of tradable instruments across multiple asset classes. These include forex, crypto, stocks, stock indices, commodities, and futures CFDs. XM focuses on CFDs (contracts for difference), which allow traders to speculate on the price movements of these instruments without owning the underlying asset.
Trading CFDs can offer leverage, which magnifies both potential profits and losses. For a detailed list of all available instruments, visit XM's Markets web page.
Available Leverage
XM offers varying leverage levels depending on the instrument and regulatory entity. For example, under CySEC and ASIC regulations, the maximum leverage for retail clients is 30:1.
However, under FSC in Belize, leverage can go up to 1000:1. Leverage allows traders to control larger positions with a smaller amount of capital, but it also increases the risk of significant losses.
Prohibited Countries
XM cannot open client accounts in certain countries due to regulatory restrictions. These countries typically include the United States, Canada, Israel, Iran, and other jurisdictions where local laws or regulations prohibit foreign brokers from operating.
For a complete list of restricted countries, it is recommended to check XM's official website.
XM (xm.com) Account types
| Micro | Standard | XM Zero | Ultra Low | |
| Commission | - | $3.5 Per Lot Per 100K USD Traded | - | |
| Maximum leverage | 1000:1 | 30:1 | 1000:1 | |
| Mobile Platform | MT4 Mobile, MT5 Mobile | |||
| Trading platform | MT4, MT5, WebTrader | |||
| Spread Type | Variable Spread | |||
| Minimum Deposit | 5 | |||
| Minimum Trade Size | 0.01 | |||
| Trailing Stops | | |||
| Scalping Allowed | | |||
| Hedging Allowed | | |||
| Islamic Accounts | | |||
| Micro | |
| Maximum leverage | 1000:1 |
| Typical Spread | 1.8-2.1 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 5 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Standard | |
| Maximum leverage | 1000:1 |
| Typical Spread | 1.8-2.1 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 5 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| XM Zero | |
| Commission | $3.5 Per Lot Per 100K USD Traded |
| Maximum leverage | 30:1 |
| Typical Spread | 0-0.1 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 5 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
| Ultra Low | |
| Maximum leverage | 1000:1 |
| Typical Spread | 0.06 |
| Trading platform | MT4MT5WebTrader |
| Mobile platform | MT4 MobileMT5 Mobile |
| Spread type | Variable Spread |
| Minimum deposit | 5 |
| Minimum Trade Size | 0.01 |
| Trailing Stops | |
| Scalping Allowed | |
| Hedging Allowed | |
| Islamic Accounts |
|
XM (xm.com) Web traffic
Our web traffic data is sourced from SimilarWeb and sums the traffic data of all websites associated with a broker. Organic visits are visits the broker didn't pay for, based on the available data. This data updates once monthly and can be based on data purchased from internet service providers, traffic metrics sourced by a third party such as Google Analytics that the company chooses to share with SimilarWeb, etc.
| Websites |
xm.com
xmglobal.com
xm.com/au
|
| Organic monthly visits | 19,327,405 (95%) |
| Organic traffic rank | 3 out of 827 (Forex Brokers) |
| Paid monthly visits | 1,091,706 (5%) |
| Total monthly visits | 20,419,111 |
| Bounce rate | 46% |
| Pages per visit | 2.77 |
| Average visit duration | 00:02:32.4770000 |
XM (xm.com) Profile
| Company Name | XM Group operating under: Trading Point of Financial Instruments Ltd (CySEC license 120/10) Trading Point of Financial Instruments Pty Ltd (ASIC license 443670) Trading Point MENA Limited (DFSA license F003484) XM Global Limited (FSC license 000261/4) |
| Categories | Forex Brokers, Cryptocurrency Brokers, Forex Rebates, Cryptocurrency Rebates |
| Primary Category | Forex Brokers |
| Year Founded | 2009 |
| Headquarters | Australia, Belize, Cyprus |
| Account Currency | AUD, CHF, EUR, GBP, HUF, JPY, PLN, SGD, USD, ZAR |
| Client funds bank | Investment Grade Banks |
| Support Languages | Arabic, Chinese, English, Dutch, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Thai, Turkish, Vietnamese, Bengali, Urdu, Czech, Swedish, Filipino |
| Funding Methods | Bank Wire, China Union Pay, Credit/Debit Card, Neteller, Skrill |
| Financial Instruments | Futures, Forex, Indices, Oil/Energies, Metals, Soft Commodities (coffee, sugar...) |
| Prohibited Countries | Cuba, Iran, North Korea, Myanmar, Russia, Sudan, Syria, United States |
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread
XM (xm.com) User reviews
)
Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.
We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.
XM (xm.com) Cashback rebates
| Micro | Standard | XM Zero | Ultra Low | |
| Forex | $5.5 Per Lot | $2.2 Per Lot | Up to $7.50 Per Lot | |
| Oil / Energies | Up to $37.50 Per Lot | Up to $34.08 Per Lot | Up to $37.50 Per Lot | |
| Metals | Gold Silver $5.50 Per Lot | Gold Silver $2.2 Per Lot | Gold $3.00 Per Lot Silver $7.50 Per Lot | |
| Shares / Equities | Up to $37.50 Per Lot | Up to $34.08 Per Lot | Up to $37.50 Per Lot | |
| Indices | Up to $37.50 Per Lot | Up to $34.08 Per Lot | Up to $37.50 Per Lot | |
| Soft commodities (coffee,sugar...) | Up to $37.50 Per Lot | Up to $34.08 Per Lot | Up to $37.50 Per Lot | |
| Cryptocurrencies | Up to $37.50 Per Lot | Up to $34.08 Per Lot | Up to $37.50 Per Lot | |
| Payment Options |
Direct to your XM MyWallet (2x weekly)
Monthly Cash Back - Real Time Reports
| |||
| Micro | |
| Forex | $5.5 Per Lot |
| Oil / Energies | Up to $37.50 Per Lot |
| Metals | Gold Silver $5.50 Per Lot |
| Shares / Equities | Up to $37.50 Per Lot |
| Indices | Up to $37.50 Per Lot |
| Soft commodities (coffee,sugar...) | Up to $37.50 Per Lot |
| Cryptocurrencies | Up to $37.50 Per Lot |
| Payment Options |
Direct to your XM MyWallet (2x weekly)
Monthly Cash Back - Real Time Reports
|
| Standard | |
| Forex | $5.5 Per Lot |
| Oil / Energies | Up to $37.50 Per Lot |
| Metals | Gold Silver $5.50 Per Lot |
| Shares / Equities | Up to $37.50 Per Lot |
| Indices | Up to $37.50 Per Lot |
| Soft commodities (coffee,sugar...) | Up to $37.50 Per Lot |
| Cryptocurrencies | Up to $37.50 Per Lot |
| Payment Options |
Direct to your XM MyWallet (2x weekly)
Monthly Cash Back - Real Time Reports
|
| XM Zero | |
| Forex | $2.2 Per Lot |
| Oil / Energies | Up to $34.08 Per Lot |
| Metals | Gold Silver $2.2 Per Lot |
| Shares / Equities | Up to $34.08 Per Lot |
| Indices | Up to $34.08 Per Lot |
| Soft commodities (coffee,sugar...) | Up to $34.08 Per Lot |
| Cryptocurrencies | Up to $34.08 Per Lot |
| Payment Options |
Direct to your XM MyWallet (2x weekly)
Monthly Cash Back - Real Time Reports
|
| Ultra Low | |
| Forex | Up to $7.50 Per Lot |
| Oil / Energies | Up to $37.50 Per Lot |
| Metals |
Gold $3.00 Per Lot Silver $7.50 Per Lot |
| Shares / Equities | Up to $37.50 Per Lot |
| Indices | Up to $37.50 Per Lot |
| Soft commodities (coffee,sugar...) | Up to $37.50 Per Lot |
| Cryptocurrencies | Up to $37.50 Per Lot |
| Payment Options |
Direct to your XM MyWallet (2x weekly)
Monthly Cash Back - Real Time Reports
|
Notes
Rebate clients are not eligible to receive bonuses.
Crypto-CFD trading is subject to regulatory oversight in Thailand. Residents should stay informed about any updates or changes in regulations that may affect their trading activities.
Rebates are not paid for:
- Accounts registered with: ASIC, CySEC, Dubai DFSA entities
- Residents of Australia, Argentina, Belgium, Latvia, Portugal or Spain
- Existing EEA/UK XM clients not currently under Clear Markets.
Non-USD rebates are converted to USD.
Non-forex instruments: https://www.xm.com/equity-indices?gid=320
What are XM (xm.com) rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do XM (xm.com) rebates work?
When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much XM (xm.com) rebates can I earn?
XM (xm.com) Regulation / Money Protection
| Company | Licenses & Regulations | Segregated Client Money | Deposit Compensation Scheme | Negative Balance Protection | Rebates | Max. Leverage Retail Clients |
|---|---|---|---|---|---|---|
| Trading Point of Financial Instruments Pty Ltd |
|
|
|
|
30 : 1 | |
| Trading Point of Financial Instruments Limited |
|
up to €20,000
|
|
|
30 : 1 | |
| XM Global Limited |
|
|
|
|
1000 : 1 | |
| Trading Point MENA Limited |
|
|
|
|
30 : 1 |
XM (xm.com) Symbols
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