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September 20, 2016

XM Broker Service Review - Open Forex account with the largest FX broker

Opening XM's Forex trading account. One of the largest FX broker with international presence.

You should read this before start trading with XM.

XM’s Trading and Service Conditions Summary

XM is one of the largest Forex broker in the world, as over millions of traders have chosen to invest online with XM.

Who is XM and what kinds of service do they provide?

See the main information of XM’s service in the table below.

Foundation year 2009
Regulations and Licenses Seychelles FSA, Cyprus CySEC, Australia ASIC, Belize IFSC
Available markets for trading Forex Trading, Stocks, Commodities, Equity Indices, Precious Metals, Energies, Shares
Number of available markets More than 1000
Number of Trading Platforms More than 16
Main Trading Platforms MT4 (MetaTrader4) and MT5 (MetaTrader5)
Number of Account Types 5 (Micro, Standard, XM Zero, Ultra Low Spread, Shares)
Minimum Trading Spread 0.0 pips
Available Forex Leverage From 1:1 to 1:888
No Deposit Bonus Available
Deposit Bonus Available
Loyalty Program (Cash Back) Available
Fund Security Segregated Bank Accounts and Investors Compensation Funds
Required Minimum Deposit 5 USD

Over millions of traders have chosen XM as their broker.

There are many reasons to invest with XM and their service is suited for both novice and professional traders.

Visit XM Official Website

Comparison of XM’s trading account types

The trading conditions such as cost, available markets and execution models are different depending on the account type you choose with XM.

See the table below for the comparison of XM’s all trading account tyespes.

Account Types Micro Standard XM Zero XM Ultra Low Shares
Trading Platforms MT4 and MT5 MT4 and MT5 MT4 and MT5 MT4 and MT5 MT4 and MT5
Base Currencies USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR USD, EUR, JPY EUR, USD, GBP, AUD, ZAR, SGD USD
Required Minimum Deposit $5 $5 $100 $50 $10,000
XM Brand XM Trading, XM Global, XM XM Trading, XM Global, XM XM Trading, XM XM Global XM Global
1 Lot Size 1000 units 100,000 units 100,000 units 100,000 units 1 Share
Maximum Leverage 1:888 1:888 1:500 1:888 None
NBP (Negative Balance Protection) Supported Supported Supported Supported Supported
Minimum FX Spread 1.0 pip 1.0 pip 0.0 pips 0.6 pips As per the underlying exchange
Trading Commission None None $7 per round turn lot None Certain fees apply
Maximum open/pending orders 200 200 200 200 50
Minimum Trading Volume 0.01 lots 0.01 lots 0.01 lots 0.01 lots 1 lot
Maximum Trading Volume 100 lots 50 lots 50 lots 100 lots Depending on each share
No Deposit Bonus Available Available Available Unavailable Unavailable
Deposit Bonus (Trading Bonus) Available Available Unavailable Available Unavailable
Loyalty Program Available Available Available Available Unavailable
Financial Markets Forex, Stocks, Commodities, Equity Indices, Precious Metals, Energies Forex, Stocks, Commodities, Equity Indices, Precious Metals, Energies Forex, Stocks, Commodities, Equity Indices, Precious Metals, Energies Forex, Stocks, Commodities, Equity Indices, Precious Metals, Energies Shares
Mobile Trading Supported Supported Supported Supported Supported
Hedging (Locked Positions) Available Available Available Available Unavailable
Scalping Available Available Available Available Available
24/5 Multilingual Support Available Available Available Available Available
Islamic Swap Free Available Available Available Available Available

Note that the available account types maybe different for traders in some regions.

To find out which account types are available for your region, go to XM Official Website, and go to “Trading” and “Trading Account Types”.

Due to regulatory reasons, some trading conditions are also slightly different for some regions.

Visit XM Official Website

What is XM Trading?

XM is a Forex broker with human support with sophisticated trading services.

According to several reports provided, XM actually might be a Forex broker with one of the largest trading volume processed in the world. Since 2009, XM is growing really fast to be recognized as a Forex broker with the best investment solution.

Start trading with only 5 USD, the trading cost is only 0.5 pips(including extra commissions), maximum Leverage is 1:888, and of course you can benefit from a number of variety trading tools offered by XM.

In terms of security of funds, XM is licensed by worldly known regulatory authorities, and also NBP(Negative Balance Protection) is applied to all live trading accounts, so you will not lose more than you deposit.

Each XM’s trading condition is simply better than many other Forex brokers.

Go to XM Official Website

Why traders choose XM as their main broker?

We understand that there are hundreds of misleading information on the web, and you may be tired of seeing the same advertisement mentioning the same things.

Here are some tips for you to choose the most suited broker for yourself.

  • XM is regulated by more than 10 different Regulatory Authorities including CySEC in Cyprus and FCA in UK.
  • Within 10 years since 2009, XM has achieved to have more than 500,000 real accounts opened, proven to be one of the largest Forex brokers in the world.
  • The maximum leverage is 1:888, which is about two times higher than many Forex brokers.
  • The minimum required deposit amount is only 5 USD.
  • Variety of Bonus Promotions are offered including No Deposit Bonus, Deposit Bonus, Loyalty Program and Forex trading contests.
  • The new account type, “XM Zero” account is offered with 0 pips with only 5 USD of trading commissions.

Visit the page here to find out more about the trading commissions charged on XM’s trading accounts.

Visit XM Official Website

Bonus Promotions of XM

XM runs various bonus promotions.

There are No Deposit Bonus, Deposit Bonus and Loyalty Program.

You can participate in all bonus promotions and trading contests for free.

Note that many of the bonus promotions are available for traders registered under XM Global and XM Trading. To find out if you are eligible to receive the bonus or not, go to XM Official Website.

See XM’s main promotions below and see which one you like to receive.

1. $30 No Deposit Bonus

XM’s $30 No Deposit Bonus is available for all new traders.

The $30 No Deposit Bonus is suited especially for traders who want to try out the trading platforms without making a deposit.

Once you open a live trading account and complete the account verification, you can request to get XM’s $30 No Deposit Bonus in the members area.

You can login to members area from XM Official Website.

By receiving XM’s $30 No Deposit Bonus, you can start investing in the real financial markets without risking your own funds.

$30 is a small amount to get started, but enough to place traders to see XM’s trading conditions and understand the mechanism of the trading platforms.

XM $30 No Deposit Bonus details

2. 50% and 20% Deposit Bonus (Trading Bonus)

When you make a deposit, XM lets you increase the account balance with the Deposit Bonus (Trading Bonus).

The bonus is provided as follows:

  1. 50% Deposit Bonus up to $500
  2. 20% Deposit Bonus up to $4500

The total bonus amount you can get from this promotion is $5,000.

The bonus will be credited to your live trading accounts, and can be used to increase the trading volume directly and support your trading activities.

There is no cost or other requirements to get XM’s Deposit Bonuses, but it will simply increase the trading volume.

For the list of all fund deposit and withdrawal methods available for XM’s trading accounts, visit the page here.

For more details and for the instruction to get XM’s deposit bonuses, go to the page below.

XM Deposit Bonus details

3. Loyalty Program

XM’s Loyalty Program is similar to cash back rebate promotion.

By participating in XM’s Loyalty Program, you will start earning XMP (XM Points) for every trade you make on live trading accounts.

The accumulated XMP can be exchanged for extra trading bonus in XM’s members area.

There are 4 levels within XM’s Loyalty Program, and you will earn more XMP per trade if you are at the higher level within the program.

With XM’s Loyalty Program, you will earn more by trading more volume and longer period.

The promotion is suited for traders who are looking to invest online with XM for long-term period.

For more information about XM’s Loyalty Program, go to the page below.

XM Loyalty Program details

Invest in over 1000 financial markets

With XM, you can invest in over 1000 financial markets at anytime and anywhere.

Any financial markets can be accessed from all account types.

By opening one live trading account with XM, the number of trading opportunities are literally unlimited.

Which financial markets and symbol you want to trade?

Here are your options.

Forex currency pairs
Over 55 Foreign Exchange currency pairs with 1:888 high leverage. The Forex market is the most popular and high volatile market. Majority of traders choose to invest in the Forex market.
Commodities
Soft commodities such as beans, cocoa, wheat and coffee get instant and direct exposure of global economies and environment. Soft commodities are offered in a form of CFDs, and you can speculate on both rising and falling market prices, while avoid unnecessarily exchange fees.
Stock Indices
With XM, you can access to global equity markets in a cost effective way. There are about 20 major stock indices available for trading on XM MT4 and MT, with up to 1:200 high leverage and low trading commission.
Precious Metals
Gold and Silver are safe haven markets, and have direct correlation to USD market. With XM, you can invest in bullion with 1:888 high leverage.
Energies
WTI, Crude Oil and Natural Gas are most actively invested commodities. These markets have unique market trends and monitored by many major market players.
Stock CFDs
With XM, you can invest in hundreds of major stocks from USA, UK, France, Germany, Australia, Greece, Italy and more countries. The advantages are the low trading cost, high leverage and speculating on both directions.
Shares
Only on XM’s Shares account type, you can invest in real stocks. This investment account involves different trading conditions than others.

There are over 1000 financial markets to trade with XM.

Signup today and start monitoring each market’s trend.

Note that the trading of Stock CFDs and Shares are available only for traders registered under Trading Point of Financial Instruments Limited, regulated and licensed by CySEC.

Visit XM Official Website

Choose from XM MT4 and MT5

XM provides 2 of the most popular trading platforms in the world, MT4 (MetaTrader4) and MT5 (MetaTrader5).

MT4 and MT5 trading platforms do look almost the same, but there are certain differences that you should know.

Here are the main differences of the features of MT4 and MT5 trading platforms.

Comparing to MT4, MT5 has more options in many aspects.

For example, MT5 has more chart types, time frames, order types, server options and product types.

MT4 still features many of the basic and advanced options and tools, many traders have been using them for years.

Due to MT4 has been and remains to be the most popular trading platform in the world, there are many more EAs (Expert Advisers) and custom indicators available in the market in general.

MT5 on the other hand, has less number of programs developed as the trading platform itself came later than MT4, the MQL5 language provides grater opportunity for developers of such programs, thus we may expect for more optimized EAs and custom indicators for MT5.

Visit the page here to see the full differences of MT4 and MT5 trading platforms.

Go to XM Official Website

Questions and Answers about XM’s service

If you have any questions about XM’s service, you are recommended to visit XM Official Website and contact their support team directly.

We have also picked up some of the most frequently asked questions about XM’s service.

1. How much is it to open XM’s trading accounts?

There is no cost to open XM’s trading accounts.

You can open both live and demo trading accounts with no charge.

XM also does not charge any for fund deposit and withdrawal, so you can transfer your investment fund to XM without any charges.

Note that some third parties (payment service providers) can charge you on your transfers directly.

The cost will be charged once you start trading in live trading accounts with XM.

When trading, there are certain costs that you need to cover such as spread cost, trading commission and swap (overnight interest).

The cost of trading is different depending on the account type and the market you trade.

To open an account or to find more information about the trading cost, please go to XM Official Website.

Visit XM Official Website

2. How much do I need to open account and start trading with XM?

The required minimum deposit amount for Standard, Micro and XM Ultra Low account types is 5 USD or equivalent amount in other currencies.

For XM Zero account, you need to deposit at least 100 USD to start trading.

For Shares account, you need to deposit at least 10,000 USD to start trading.

For more information about the minimum deposit requirement and funding conditions, visit the page here.

In case you opened a demo trading account with virtual funds, you do no need to start trading in the account.

You can also get XM’s $30 No Deposit Bonus to start trading without making a deposit at all.

The $30 No Deposit Bonus is mainly provided for all new traders, for tryout purpose.

For the comparison of XM’s all account types, visit the page here.

Go to XM Official Website

3. Does XM offer Cent or Micro account?

For traders who wish to start trading with small amounts, XM offers “Micro” account type.

XM’s Micro account offers 1 micro lot trading which volume equals to only 10 USD cents.

XM’s Micro account type also provides 1:888 high leverage which helps you to increase the trading volume directly.

While you can start trading from small amounts, please note that your account will be more vulnerable to volatility and the risk of stop out (liquidation) is higher for accounts with lower balance.

When trading in the live trading accounts, make sure that you have enough funds to support your tradings at all times.

Go to XM Official Website, and there is an online calculator which you can use to calculate how much margin you need for trading in each account type.

Visit XM Official Website

4. How can I open a corporate (company) account with XM?

XM does not offer corporate (company) account type.

When signing up and opening a live or demo trading account with XM, you need to register as an individual.

5. How much is the maximum loss? Could I have debt by trading with XM?

With XM, you do not lose more than you deposit with.

In case the loss in your live trading account becomes below zero, the amount will be automatically reset to zero when you make the next deposit.

It is called NBP (Negative Balance Protection) and protects traders from exceeded losses in any cases.

The NBP works like an insurance funds for traders, and you do not lose more than you deposit with XM.

Due to the above system, you will not own or be in debt with XM when trading online.

Visit the page here to find out how NBP system works in the Forex market.

Go to XM Official Website

6. Is there any prohibited trading strategies on XM MT4 and MT5?

XM allows any types of trading strategies on both MT4 and MT5 trading platforms.

You can perform scalping, hedging and also swing trading.

You are also free to run EAs (Expert Advisers) and add custom indicators as you prefer.

In case your trading strategy can be considered extreme and you wonder if your trading strategy can be accepted or not, you may contact XM’s support team from Official Website.

Visit XM Official Website

7. How can I upgrade my MT4 platform to MT5?

MT4 and MT5 are 2 different trading platforms.

You cannot upgrade the account types or platforms, but you need to open accounts separately.

With XM, you can open up to 10 live trading accounts and manage them under your profile.

To use both XM MT4 and MT5 trading platforms, you need to open MT4 account and MT5 account.

You cannot login to XM MT5 with the login credentials made for XM MT4 accounts, and vice versa.

MT4 and MT5 trading platforms are upgraded to the next versions automatically when there is version updates by MetaQuotes.

For more information about the difference of MT4 and MT5 trading platforms, visit the page here.

Go to XM Official Website

8. Does XM offer Binary Options?

No, XM does not offer Binary Options trading.

With XM, you can invest in over 1000 financial markets from various assets.

The available financial markets for trading are Forex, Commodities, Equity Indices, Precious Metals, Energies, Stock CFDs and Shares.

All of the above financial markets are available for trading in one trading account of XM, thus you can easily diversify your trading portfolio and while monitoring all markets.

The trading of Shares is available only for XM’s Shares account type.

For the list of available financial instruments for trading on XM MT4 and MT5 trading platforms, visit XM Official Website.

Visit XM Official Website

9. How much profit can I make by trading with XM?

The amount of profit you can make by trading with XM is unlimited.

There is no maximum limitation to the amount of profit you make.

On the other hand, the loss is limited to the total deposit amount, due to XM’s NBP (Negative Balance Protection) system.

XM’s NBP protects you from exceeded losses thus the maximum loss is always limited to the total account balance.

The profit you made in XM’s live trading accounts can be withdrawn via various methods by following the standard procedure of fund management.

For the list of all available fund deposit and withdrawal methods for XM’s live trading accounts, visit the page here.

Go to XM Official Website

10. How can I open trading accounts with XM?

To open a live or demo trading account with XM, follow the steps below.

  1. Go to XM Official Website
  2. Click on “OPEN AN ACCOUNT”
  3. Fill in the forms to complete the registration
  4. Verify your email address by clicking the link sent to your email address
  5. Receive login credentials for XM’s live or demo trading accounts
  6. Login to XM’s members area from XM Official Website
  7. Make deposit, download platforms, participate in promotions etc…
  8. Start trading

If you have any questions during the online registration, contact XM support team through the live chat window directly on XM Official Website.

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