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XM.com Broker Review

Min. Deposit $5

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9.4/10 (Expert Score)
Product is rated as #1 in category Broker

About xm.com

Info: XM.com was founded in 2009 and since then has been one of the international investment companies and market leaders with more than 3,500,000 customers. According to its own statements, about 450 experts with several years of experience work at the broker and traders from 196 countries can use the 16 trading platforms with full functionality. XM.com particularly stands out for its customer service, which is available in more than 30 languages and can be reached for 20 hours, 5 days a week.

Customers, according to our XM.com experience, have more than 25 secure payment methods at their disposal and can trade mainly Forex and CFDs. XM.com provides the most popular trading platforms as well as mobile trading.

We would like to share our XM.com experience below. In doing so, we will show where the advantages and disadvantages of trading with this provider are, address the question of whether fraud could be taking place at XM.com and show the results of the individual categories in the test.

 

New customer offers: extensive, exciting and worthwhile

Our XM.com experiences have shown that just like our ATFX Trade experiences, the provider offers a versatile bonus program for new and existing customers. New customers receive a $25 bonus, which is independent of the deposit amount. Investors can choose in which currency they would like to have the new customer bonus credited. XM.com is one of the few providers where traders can get the profits made with this bonus paid out immediately.

In addition, XM.com grants a bonus for new customers, which is dependent on the deposit. Existing customers can also use this bonus once. The bonus, which is dependent on the deposit, is as follows according to our XM.com experience:

  • Maximum bonus in the amount of $5000.
  • At the first deposit capital bonus in the amount of 50
  • For the second deposit capital bonus in the amount of 20

This fair bonus offer makes an XM.com scam unlikely and speaks for the fact that XM.com is reputable. Existing customers can also grab a loyalty bonus, which is based on the length of use or the respective trading activities. When starting to trade, traders receive ten loyalty points or lot credits. The choice is open as to whether the credit should be used for trading or paid out.

Depending on the trading activity, the bonus points increase according to our XM.com test, so that after one hundred days 20 lots can be reached. A higher status is available with an equity or trading balance of 5000 US dollars. Here customers can connect to the virtual private server and perform faster trading. Independently, the broker regularly offers contests, where a profit of up to $20.000 is possible.

 

Website and usability: serious, clear and available in several languages

At first glance, the website looks very clear in our XM.com test. Customers can initially choose from numerous languages, which significantly simplifies the usability of the website. There is a clear menu through which customers are guided to the trading products, trading accounts and a lot of information about the broker. In our XM.com test, this transparency suggests that XM.com is reputable.

The research and education section is particularly positive and contains some interesting information and training. XM.com has clearly listed all platforms through which trading is possible and offers an extensive menu on the topics of trading products and trading conditions. Since some of these are very complex trading products, it is somewhat complicated for beginners to find out how they work. However, the telephone customer service is available here, which can be reached easily via the website.

 

Trading accounts at XM.com: versatile, interestingly structured and easy to open

Our XM.com experiences have shown that the provider provides several trading accounts, just as we found in our Markets.com experiences. Customers can choose between the micro account, the standard account and the XM.com zero account. Additionally, the broker assures that the specifications of the three content types are only references and clients can also expect a customized solution.

In addition to the content types, XM.com offers a demo account, through which especially beginners can first deal with trading and test the trading potential with virtual money and without risks. In the XM.com test, a demo account is always a sign that XM.com is reputable and that an XM.com scam is unlikely.

  • Micro account: Contract size 1 lot = 1,000, spreads for major currencies as low as 1 pip, no commission, max. 200 open positions, max. 100 lots per ticket, minimum deposit $5.
  • Standard account: Contract size 1 lot = 100,000, spreads for major currencies as low as 1 pip, no commission, minimum trading volume: 0.01 lots, max. 200 open positions, max. 50 lots per ticket, minimum deposit $5
  • XM.com Zero Account: Contract size 1 lot = 100,000, spreads for major currencies as low as 0 pip, no commission, minimum trading volume: 0.01 lots, max. 200 open positions, max. 50 lots per ticket, minimum deposit $100

 

 

The trading platform: own trading software and MetaTrader 4 in offer

In our XM.com test, we found out that the online broker does not offer its own trading software. However, trading is possible via MetaTrader 4 and MetaTrader 5. Customers have the option of automated trading and can adjust the trading strategies through individual settings. With a good overview of the tradable markets and the numerous tools, the platforms also offer professional traders numerous possibilities.

With their own app, traders can also trade on the go on iOS, Android and Blackberry. Here, orders can be placed and news and charts can be monitored in real time. Our XM.com test showed that trading on the home computer offers a better overview and makes trading easier than with the mobile version. The variety of the most popular trading platforms gives the impression that XM.com seriously tries to create the best possible trading conditions for its customers and attaches importance to excluding XM.com fraud.

The following trading platforms are available:

  • 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

XM.com payment methods: extensive, fast and free of charge

The deposit and withdrawal options offered are, as our GKFX experience also showed, an important indication of whether XM.com is a scam or whether XM.com is reputable. Our XM.com test showed that customers have a wide range of deposit and withdrawal options to choose from. Here, the option is available to complete deposits and withdrawals via the most popular credit card providers.

In addition, traders can make use of numerous electronic deposit systems, including Sofort-Überweisung and giropay. Not all deposit options are available in every country. All deposit options are also available for withdrawals. The broker emphasizes that it only provides payment options through globally recognized providers. Customers can also complete withdrawals via bank transfer.

Info: The broker takes over the fees for deposits and withdrawals for its customers. The low minimum deposit amount of five euros also stands out positively. The duration of the deposit depends on the respective provider, which is why there may be longer periods. Especially with bank transfers, it can take a few days until the money is ready for trading. When depositing via credit card, traders usually have the funds available immediately.

 

Customer service: friendly, competent and good accessibility

Based on the extensive customer service alone, customers can assume that XM.com is reputable and that there is no XM.com scam. The online broker makes a point of being available to its traders in numerous languages. For this reason, numerous trained employees are available worldwide to competently handle customer inquiries. Since XM.com offers a number of highly complex trading options, it is important that you have the opportunity to get sufficient information from the customer service.

Since XM.com serves customers from more than 196 countries, customer service in more than 25 languages shows up as a positive point in our XM.com experience. The customer service is available five days a week from Monday to Friday 24 hours a day. In addition, traders can use the extensive FAQ page as well as live chat or contact via email. XM.com has several locations worldwide and lists the respective phone numbers on the website. For example, there are also locations in Cyprus, Australia, Greece.

The customer service in Germany is divided into the following departments:

  • General customer service
  • Sales department
  • Human resources department
  • Back office
  • Customer service
  • Press inquiries

License and security at FX Iron: high security standards and proper regulation

Whether XM.com is reputable or whether you have to fear an XM.com scam is shown by the high security standards that the broker provides. When it comes to deposit protection, XM.com shows itself to be reputable, in that the provider guarantees up to €20,000 in deposit protection. Depending on the amount of individual customer deposits, the deposit protection can also apply beyond this amount. XM.com fraud is also very unlikely due to the account segregation, which is common in the broker industry.

Due to account segregation, clients’ funds are protected even in the event of the provider’s insolvency. XM.com is a subsidiary of Trading Point of Financial Instruments, which is based in Cyprus. As a result, XM.com is subject to the requirements of regulation in the EU. Thus, the broker is bound to guarantee the high security standards and the XM.com scam would basically prove to be very difficult. XM.com is regulated by the Cypriot regulator CySEC, which also ensures sufficient security.

 

Demo account, educational program and trading tools: extensive, informative and worthwhile.

As already mentioned, XM.com offers a demo account in addition to the three trading accounts. This test account is equipped with a $100,000 credit and is not subject to any time-limited use. In our XM.com test, we rate the demo account as a plus point, since especially beginners can implement their trading strategies without financial risk. In addition, extensive information material is available, which proves to be very practical, especially for newcomers, as our Activetrades experiences have shown.

Via the menu, customers can easily and smoothly access the learning area that the broker offers. In addition, you have the option to participate in live training or take advantage of the Forex webinars offered. The provider is shown to be very well positioned in our XM.com reviews in the area of seminars and platform learning videos.

Another offer that makes XM.com reputable and rules out an XM.com scam is the training offered regarding the tools traders can use to conduct their trades. Thus, clients can learn about automated trading or forex signals in advance. There is also information about the economic calendar or the Forex calculator. All in all, the broker’s training offer is quite impressive.

 

xm.com Forex

XM.com Forex trading: extensive trading offer, manageable costs and good trading conditions

Forex trading offer

In our XM.com test, we were able to determine that the broker currently offers 55 currency pairs in the Forex area. Customers can trade the common major currencies and minor currency pairs here. In addition, XM.com also offers exotic currency pairs. In the main currency pairs section, traders have access to the following currencies:

  • Euro/US Dollar (EUR/USD)
  • US dollar/Japanese yen (USD/JPY)
  • British Pound/US Dollar (GBP/USD)

Our XM.com test showed that the broker also focuses on the most popular combinations in the minor currency pairs. These include the euro and the Swiss francs (EUR/CHF) and the British pound with the Japanese yen (GBP/ PY). In addition, clients have the option to trade exotic currency pairs such as the US dollar and Singapore dollar (USD/SGD). So, the forex offer at our XM.com reviews is quite respectable.

Forex trading costs

XM.com experiences show that trading costs can be divided into three categories. These include the costs per trade due to spreads or commissions, the deposit and withdrawal fees as well as other costs incurred. These values can be used to assess whether XM.com is reputable or whether an XM.com scam is possible. When trading currencies, most costs are usually incurred through the cost per trade, as our Blackwell Global experience also shows. The following spreads are available:

  • Variable Spreads
  • Fixed spreads
  • Variable spreads with commission

XM.com offers favorable variable spreads. For the most traded currency pair Euro/US Dollar the cost is 1.6 pips, which is quite competitive compared to other brokers and shows that XM.com is reputable and an XM.com scam is rather absent. This spread is available on the Standard account and the Micro account. Traders can also benefit from lower spreads. With the XM.com zero account, variable spreads starting at 0 pips are available, but a commission must be paid to the broker. Depending on the trading strategy, this fee model can prove to be an advantage or disadvantage.

Forex trading conditions

At XM.com we were able to find out that the maximum leverage for currency trading is 1:30. Customers can also trade with a micro lot. If you hold positions overnight, rollover interest may apply. In Forex financial instruments, the amount that is deducted or credited depends on the type of position. In addition, the exchange rate differences of the two currencies being traded play a significant role. XM.com trading platform supports the following orders:

  • Market orders
  • Limit orders
  • Stop orders
  • Trailing stop orders
  • Placement of orders at any time during trading hours

In addition, clients have the option to trade over the phone while talking to a dealer, which makes XM.com fraud almost impossible. Meanwhile, the position remains open until it comes to the closing of the trade. You can keep an eye on the account balance in real time and according to current market prices. Low pip rates allow traders to trade with tight spreads and also turn precise price quotes into an advantage. Only 200 positions may be open at any one time.

Forex trading at XM.com summarized

Online broker XM.com offers 55 currency pairs in the Forex section, among which there are major currency pairs and minor currency pairs, as well as some exotic currency pairs. Clients can choose from variable spreads, fixed spreads and variable spreads with commission. A maximum leverage of 1:30 is available and all in all, the trading conditions and trading costs are competitive compared to other brokers.

 

xm.com CFD

XM.com CFDS: broad trading opportunities on international exchanges

CFD trading offers

According to our XM.com experience, investors have the opportunity to invest their trading capital in different asset classes. These include:

  • Currencies
  • Shares
  • Stock indices
  • Precious metals
  • Commodities

In the individual categories, traders have a well-positioned selection of the most popular underlyings. At XM.com, investors can make speculations on the performance of global stock markets through direct access. Crypto CFDs are also a popular investment alternative and customers can trade Bitcoins such as Bitcoin Cash, Ethereum, Litecoin as well as Ripple. A good trading offer is also an indication of whether XM.com is reputable.

When it comes to commodities, traders have a wide range to choose from, including wheat, sugar or corn. XM.com covers the most important global stock indices and allows trading in precious metals such as silver, gold, platinum, crude oil or natural gas. In the energy sector, investors can speculate on energy prices of heating oil, crude oil or natural gas.

CFD Trading Costs

The trading costs of the CFDs offered by XM.com can be traded in detail on the broker’s website. The fees are incurred in the form of spreads, with the amount depending on the traded product. In general, the fee model of XM.com is quite respectable, which is also taken into account in our XM.com review and makes an XM.com scam unlikely.

When trading CFDs, the so-called margin is incurred. This is the payment that users must make when entering a CFD position. The amount of margin is given as a percentage, which is based on the position size. For example, if the margin is 10% and the position size is $10,000, you will have to make a deposit in the amount of $1,000.

In order to place new trading orders, the margin level of the trading account must be at least 100%. If this is not the case, a margin deposit for new orders covers the entire trading account.

CFD trading conditions

If positions are to be held overnight, XM.com charges rollover interest, but this is relevant only for cash financial instruments. For futures where there is an expiration date, there is no charge for overnight positions. Market, limit, stop and trailing stop orders are available through the XM.com trading platform, as well as trading over the phone directly with a dealer. Very tight spreads are possible due to the low pip rates. Open positions are limited to 200.

CFD trading at XM.com summarized

In the area of CFDs, the broker shows itself to be very well positioned in our XM.com reviews. Customers can trade CFDs on stocks, stock indices, commodities and energies, as well as precious metals and currencies. XM.com clearly lists the fees on its website. In summary, XM.com does well to focus on Forex and CFD trading.

XM.com Broker Review
XM.com Broker Review

Min. Deposit $5

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