XM.com Review 2021 - Verified Customer Reviews

Fxverify Rating
User Rating
Fxverify is the first of it's kind and only publishes user reviews by verified customers with a real XM.com trading account. Learn how we verify.

XM.com Review

Updated September 27, 2021
Score breakdown
Pricing: 3.5
Regulation: 5
Popularity: 5
User Rating: 4.4 (127)

XM.com overall score rank: 4 out of 45

XM forex broker review

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.04% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

  • Mini and Nano lots accounts
  • No deposit trading bonus
  • Regulated in the EU, the UK, Australia, Dubai and Belize
  • Accepts Japanese clients

Regulations and Money Protection


Entity Name Licence & Regulation Client Money Protection Deposit Compensation Scheme Negative Balance Protection
XM Global Limited (International) Belize ISFC Licence ✔️segregated client money ✔️
Trading Point of Financial Instruments Pty Ltd (AU) Australia ASIC Licence ✔️
Trading Point MENA Limited (UAE) Dubai DFSA Licence ✔️
Trading Point of Financial Instruments UK Limited (UK) UK FCA Licence ✔️
up to £85,000
Trading Point of Financial Instruments Limited (EU) Cyprus CySEC Licence ✔️
up to €20,000


The parent company of XM is Trading Point Holdings Ltd, with registered address at 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus. Trading Point Holdings Ltd is the holding company of Trading Point of Financial Instruments Limited, XM Global Limited, Trading Point of Financial Instruments UK Limited, Trading Point of Financial Instruments Pty Ltd, Trading Point MENA Limited.

  • International customers: XM Global Limited (trading as XM) will be the counterparty for International customers. This entity, with registered address at No. 5 Cork Street, Belize City, Belize, CA, is authorised and regulated by the Belize International Financial Services Commission (IFSC) with license number 000261/106.

  • Australian customers: Trading Point of Financial Instruments Pty Ltd, (ACN 164 367 113), with registered address at SYDNEY NSW 2000, Australia, is licensed by the Australian Securities & Investments Commission (ASIC). XM is registered to carry out financial services business in Australia, limited to the financial services covered by its AFSL license. The trading name, XM, used by Trading Point of Financial Instruments Pty Ltd, is also used by the other entities.

  • UAE customers: Trading Point MENA Limited, with registered address at Unit S1302, Level 13, South Tower, Emirates Financial Towers, DIFC, PO Box 507013, Dubai, UAE, is licensed by the Dubai Financial Services Authority (DFSA). XM is registered to arranging deals in investments, dealing in investments as principal and carrying on authorised financial services with or for retail clients.

  • UK customers: Trading Point of Financial Instruments UK Limited is a company registered in England and Wales under number 09436004. Principal and registered office at: 1 Ropemaker Street, London EC2Y 9HT, England. Trading Point of Financial Instruments UK Limited is authorised and regulated by the FCA.

  • European customers: Trading Point of Financial Instruments Limited is authorised and regulated by the Cyprus Securities and Exchange Commission and is a member of the Investor Compensation Fund (ICF). Trading Point of Financial Instruments Limited is licenced to provide the investment services of reception and transmission of orders, execution of orders on behalf of clients, of CFDs and other derivatives in Europe, as an intermediary in the financial markets, respecting the MiFID obligations.

Client Money Protection

  • XM complies with the highest safety standards for client's funds. For this reason, XM client's funds are kept in top-tier international banks, such as the Barclays Bank Plc, fully segregated from the company’s funds.

  • XM also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. XM holds client's money separately to the company funds and does not use these funds for any operational expenses or purposes.

Deposit Compensation Scheme

  • Trading Point of Financial Instruments UK Limited is a member of the Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for customers of authorised UK financial services firms. If Trading Point of Financial Instruments UK Limited is unable to pay claims against it in the event the firm has stopped trading or has declared to be in default, clients might be entitled to compensation (up to the value of £85,000) per claim.

  • Trading Point of Financial Instruments Limited is a member of the Investor Compensation Fund (ICF), an investor compensation fund for CIF clients and its functions are regulated by the directive DI87-07 of the CySEC. If Trading Point of Financial Instruments Limited is unable to meet its obligations, clients might be entitled to compensation (up to the value of €20,000) per claim, irrespective of the number of accounts held, currency and place of offering of the investment service (within Europe).

Negative Balance Protection

For accounts opened via XM Global Limited (or any of the other entities) there is a default Negative Balance Protection mechanism in place, for the sake of no negative balance. Should the slippage of a certain currency pair cause a negative balance, it will be reset automatically with the next deposit. With NBP, XM customers are protected from any losses bigger than their original investments, in cases of extreme volatility.

Accounts, Instruments and Platforms

Accounts Instruments Platforms Social trading Maximum Leverage
XM Global Limited
✔️XM Ultra Low

✔️XM Zero

✔️XM Ultra Low
✔️XM Zero

✔️Islamic Accounts
✔️MT 4
✔️MT 5
30:1 Europe

30:1 Australia

888:1 Rest of World

Account Types and Currencies

  • XM offers several types of trading accounts, depending on the entity chosen when opening a trading account. If the entity is XM Global Limited (for international customers), then the available accounts are Micro, Standard, XM Ultra Low and Shares. For European traders the contracting entity is Trading Point of Financial Instruments Limited offering 3 types of accounts; Micro, Standard and XM Zero. For Australian traders the contracting entity is Trading Point of Financial Instruments Pty Ltd offering 4 types of trading accounts; Micro, Standard, XM Ultra Low and XM Zero. XM also offers swap-free accounts for traders of Islamic belief.

  • XM does not allows for social trading, including copy trading.

  • XM does not have any PAMM accounts alternatives for money managers.

  • XM maximum leverage is 30:1 for accounts opened within Europe and Australia, and up to 888:1 for accounts opened in other countries around the world.

  • Currently, XM trading accounts are only available in USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD and ZAR.

Financial instruments

Trading with XM can be done only via the Metatrader 4 and Metatrader 5, available as web terminal, desktop terminal (PC and MAC) and mobile trading versions (Android and iOS). The broker offers an excellent selection of more than 1,300 assets to trade, including Forex, indices, stocks, futures and commodities.

  • FX market - 55 currency pairs (including Minor and Exotic crosses).

  • Indices - 18 world indices including UK 100, US 500 and NIKKEI 225. Also within the indices range, 10 futures contracts of the same worldwide indices.

  • Stocks - 1,246 shares from worldwide top companies and banks, such as Barclays Plc, EasyJet, Tesla, Bank of America, Deutche Bank and BMW.

  • Commodities - 15 commodities CFDs available for trading; 3 metals (Gold, Silver and Copper), 5 energies including UK Oil, US Oil and Nat Gas and 7 soft including Coffee, Cotton and Sugar.



Micro Standard XM Ultra Low XM Zero Shares
Spread EUR/USD from 1.6 pip from 1.6 pip from 0.6 pip from 0.1 pip N/A
Commissions (1 lot) from 7 USD ✔️ - variable
Minimum Deposit from 5 USD from 5 USD from 50 USD from 100 USD from 10,000 USD


Before starting our XM pricing review, we would like to share with you something that is very explicit and available on XM website: “When you trade at our company, Trading Point is your counter-party. Your trades are matched and any next exposure above the predefined thresholds is hedged with our liquidity providers...". This means that XM is a market maker, therefore, traders will be trading in XM's own pool of liquidity.

XM trading spreads are not the most competitive in the market for the entry-level accounts (Micro and Standard). For the most traded pair, the EUR/USD, the spread on both accounts starts at a whoping 1.6 pip! Even being commission free, we consider this cost to be quite high compared with other top brokers.

Plus, XM applies a policy that can impact on some trading strategies, for example scalping and thight spreads EAs. There’s a minimum level for placing pending orders (TPs and SLs) after opening a position, in the case of the EUR/USD, is 4.0 pips (other pairs vary, like the GBP/USD & USD/CAD is 5.2 pips, for example).

On the positive side, with a XM Zero account, the EUR/USD minimum spread is 0.1 pip (typically 0.2 pip). To benefit from the ultra-low spreads with the Zero account there’s a cost, of course, meaning commissions. For example, for the EUR/USD, the standard lot commission for 1 lot (100,000 units) with the Zero account is 7 USD (3.5 USD per side). This commission is quite in line with other top brokers.

Rollover Rates

XM swap rates, as of 17-09-2020, for 1 lot EUR/USD (100,000 units) stands at an average rate of -5.58 for holding overnight a long 1 lot contract and at -0.78 for holding overnight a short 1 lot contract. We consider these swap rates to be higher when compared with the rollover rates offered by other top Forex brokers.

Deposits/Withdrawals and Other Fees

  • Deposit fees - Trading accounts can be opened in 11 different currencies and maintained via different funding methods, including cards, bank wires and e-payments such as Neteller or Skrill. Deposited funds are available almost instantly. XM does not charge any fees for deposits.

  • Withdrawals fees - Same policy applies for withdrawals (processing times vary from instant to 1 working day). XM does not charge any additional fees for withdrawals. XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Moneybookers and all major credit cards (including VISA, VISA Electron, MasterCard, Maestro and China UnionPay). Additionally, all deposits and withdrawals above 200 USD processed by wire transfer are also included in XM's zero fees policy.

  • Inactivity fee - XM reserves the right to charge a dormant account fee to trading accounts deemed dormant. Accounts, during which there was no trading/withdrawal/deposit/internal transfer/additional trading activity on them from the last day of 90 (ninety) calendar days, are dormant. All remaining bonuses, promotional credits and XMPs will be automatically removed from dormant accounts.where there is a lack of trading activity on the account. XM will charge dormant accounts with a monthly inactivity fee of 5USD, or the full amount of free balance, if the free balance is less than 5USD. No inactivity charge is imposed in the trading account if the free balance is zero.



Forex Education Deposit Options Deposit/Withdrawals Fees Non expiring demo account Customer
Webinars & Seminars
Educational Videos
Fundamental & Technical Analysis
Market Insights
Bank Wire
✔️ Multi language
24/5 Support
Live Chat

With over 3,500,000 accounts opened from customers in 196 countries (according to their corporate website) the XM Group seems to have captured the attention of a lot of traders, also, thanks to the broker's great advertising budget. To note that the range of available trading platforms is not the best. Trading can be done only via MT4 and MT5, altought the broker states 16 trading platforms available on their website.

  • Trading accounts - The XM Zero trading account is a popular choice with traders looking to save on trading costs, with a lower spread and a competitive commission of $7.00 per lot traded. Extra points for XM's policy of no fees on deposits or withdrawals.

  • Forex education - XM also gets extra popularity points for their extensive range of Forex education materials, available through the Research & Education tab. XM clients can enroll on webinars and seminars to enhance their trading skills and overall market knowledge, watch and learn with video tutorials, read and make informed decisions with XM fundamental & technical analysis reports.

Funding Methods Bank Wire, China Union Pay, Credit Card, FasaPay, Neteller, QIWI Wallet, Skrill (Moneybookers), Webmoney, SticPay, Sofort, Dotpay, Paysafecard, Rapid Transfer
Support Languages Arabic, Chinese, English, German, Indonesian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, Vietnamese

  • Minimum deposit - Opening a trading account with XM is fast and can be done online, taking around 10 minutes to complete the required forms. The minimum deposit requirement (for the Classic and ECN Pro accounts) is 100 units of your account currency. If you hold a VIP account (with extremely competitive trading conditions), the minimum deposit is 50.000 units of your account currency.

  • Customer support - XM multi language customer support service is available 24 hours, 5 days a week, in 14 languages. XM support is available via phone call,  contact form, email and live chat directly from the broker's website.

Broker Profile

The XM Group is more than one Forex broker. In reality is a group of regulated online brokers. The first company, Trading Point of Financial Instruments Ltd was established in 2009 and soon after got regulated by the Cyprus Securities and Exchange Commission (CySEC). A few years later, in 2015, Trading Point of Financial Instruments Pty Ltd was established and is currently regulated by the Australian Securities and Investments Commission (ASIC).

In 2017 XM Global Limited was established and is regulated by the International Financial Services Commission (IFSC). XM client’s benefit from access to over 1,000 financial instruments including Forex, and a complete range of CFDs; stocks, precious metals, energies, commodities and indices, with flexible leverage.

XM aims at providing retail client’s with a trading environment that offers all the necessary tools enhancing trading performance, including product innovation, cutting-edge trading platforms and personalized customer service.

Overall, on our XM review, the broker scores an great 4.5 out of 5 as it is a good choice for traders looking for a reputable broker with fund’s safety and strong regulations in place. On the downside a couple of points to improve; the offering of trading platforms and the overall cost of trading, not the cheapest for the Micro and Standard accounts, compared with other top brokers.

Data supplied in partnership with CashBackForex - Forex Rebates places XM on the top 5 brokers for popularity with traders opening an account in 2020.

Was this review helpful? Share it with a friend!

XM.com User reviews

Account types:
(127 reviews)

XM.com user rating score rank: 6 out of 45

XM.com Account types user rating

XM.com Products

Commodities (coffee, sugar...)