Main Advantages
–The broker offers multiple account types: demo, micro, standard, zero, ultra-low, share, and Islamic accounts.
–Platforms: MT4, MT5, and XM App.
–Provides negative balance protection for all clients.
–Leverage up to 1:1000 (depending on jurisdiction — Belize, Seychelles, etc.).
–Includes research and educational resources on trading concepts.
–Dedicated trading center.
–Highly rated mobile app.
–24/5 live chat customer support with excellent responsiveness.
–A multi-regulated and reputable broker.
Main Disadvantages
– Leverage for EU retail traders is capped at 1:30, in compliance with regulatory standards.
– Standard account spreads are relatively high.
– The number of tradable instruments is limited.
– No STP or ECN account types available.
XM Broker is an international forex and CFD broker belonging to the Trading Point Group (Trading Point of Financial Instruments Limited). Since its establishment in 2009, XM has attracted over 15 million clients in more than 190 countries and regions worldwide, executing over 10.3 billion trades with no requotes or order rejections.
The group's main entities include XM Global Limited and Trading Point of Financial Instruments Limited. XM Global Limited is headquartered in Belize and regulated by the Belize Financial Services Commission (FSC) (license number: 000261/397); while Trading Point of Financial Instruments Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC) (license number: 120/10). Both companies strictly adhere to local financial regulations, ensuring the compliant and secure operation of the XM trading platform globally.
XM offers investors a diversified range of financial trading products, including forex, stock and index CFDs, cryptocurrencies, commodities, precious metals, and energy, and supports major trading platforms such as MT4/MT5. With its highly efficient execution, low-latency trading environment, and robust risk control system, XM is committed to providing global users with a stable, fair, and transparent trading experience.
For many years, XM has adhered to a customer-centric service philosophy, continuously investing in product innovation, trading education, and customer support. Its multilingual customer service team covers major global markets and helps investors improve their trading skills through training courses and market analysis. With its sound regulatory background, excellent trading conditions, and transparent execution mechanisms, XM has established a trustworthy brand image in the global forex and CFD market.
At FXKnow, we believe that fund security is one of the most crucial considerations when choosing a forex broker.
With over 15 years of stable operation, XM Forex (XM Broker) demonstrates outstanding performance in fund security and regulatory compliance, as reflected in the following aspects:
| Item | Description | Advantages and Evaluation |
| Regulatory Authorities | XM is regulated by the Cyprus Securities and Exchange Commission (CySEC, License No. 120/10) and complies with the requirements of the Belize Financial Services Commission (FSC, License No. 000261/397). Some entities are also regulated by the Australian Securities and Investments Commission (ASIC). | Multiple regulations ensure compliant operations and guarantee independent and transparent management of client funds. |
| Trading History | Founded in 2009, XM has over 15 years of industry experience, serving clients in more than 190 countries and regions, with over 10.3 billion trades executed in total. | Long-term stable growth and performance reflect reliability and strong market trust. |
| Fund Segregation Policy | Client funds are strictly separated from company operational funds and are kept in independent, regulated bank accounts. | Prevents fund misuse and ensures the safety of client assets. |
| Investor Compensation Fund (ICF) | For European clients under CySEC regulation, in the event of insolvency, compensation up to EUR 20,000 may be provided. If regulated under the UK FCA in the future, coverage could increase to GBP 85,000 (FSCS). | Provides additional protection and reduces potential losses in extreme situations. |
| Negative Balance Protection | XM provides a negative balance protection mechanism for all clients, not limited to the EU region. | Ensures traders cannot lose more than their account balance, especially beneficial for beginners. |
| Risk Management | Strictly adheres to the risk disclosure and fund management standards required by CySEC and ASIC regulations. | Ensures trading transparency, fairness, and compliance with international regulatory standards. |
In conclusion, XM Forex demonstrates industry-leading advantages in fund security. For investors focused on capital protection and risk control, XM represents a stable and compliant platform of choice.
XM Forex (XM Broker) is open for registration in most regions worldwide, except for users from the United States, Canada, China, and Japan.
The account opening process is standardized and typically takes 10–15 minutes to complete, with verification requiring around 24 hours. The minimum deposit is just 5 USD to start trading.
Step 1: Fill in basic information — provide name, nationality, email, and phone number.
Step 2: Choose trading platform and account type — supports MT4 / MT5 platforms with options for Standard, Micro, Ultra Low, and Zero accounts.
Step 3: Personal and financial information — enter date of birth, address, income, and trading experience.
Step 4: Upload verification documents — provide proof of identity (passport/ID/driver’s license) and proof of residence (utility bill or bank statement).
Step 5: Review and fund your account — XM completes the verification within one business day; trading can begin after a minimum deposit of 5 USD.
XM’s account opening process is industry-standard — clear, fast, and beginner-friendly. Although identity verification is required, response time is quick and the overall experience is smooth.
| Account Type | Suitable For | Main Features | FXKnow Analysis |
Demo Account (Demo) | Beginners and strategy testers | Provides $100,000 virtual balance and full MT4/MT5 trading functions; inactive for 60 days will be closed automatically. | Stable simulation environment, ideal for training or strategy testing, up to 5 demo accounts allowed. |
| Standard Account | Regular retail traders | No commission, 1 lot = 100,000 units, minimum deposit $5, 11 base currencies. | Spreads slightly higher but transparent; leverage up to 1:30 (CySEC) and up to 1:1000 for offshore accounts. |
Micro Account (Micro) | Beginners and low-risk traders | 1 lot = 1,000 units (1/100 of Standard Account), $5 minimum deposit, no commission. | Helps practice risk management; suitable for small funds and entry-level traders. |
Ultra Low Account (Ultra Low) | High-frequency or large-volume traders | Spreads from 0.8 pips, no commission, leverage up to 1:1000 (offshore entities). | Excellent cost efficiency, one of XM’s most promoted accounts. |
Zero Account (Zero) | Professional and scalping traders | Spreads from 0.0 pips, $7 round-turn commission per lot, 3 base currencies (USD/EUR/JPY). | Ultra-low spreads but with commission; ideal for precision and low-cost strategies. |
| Shares Account | Investors wanting real stock ownership | Available under XM Global, minimum deposit $10,000, access to US/UK/DE equities. | Direct stock ownership (not CFD), suitable for medium-to-long-term investors. |
| Islamic Account | Muslim traders | No overnight interest (swap-free), Sharia-compliant, no spread mark-up. | Transparent terms without hidden swap replacements. |
STP / ECN Accounts: XM operates under a dealing-desk model (not direct market access).
Professional Account (Pro): No separate professional-grade account type available.
Guaranteed Stop-Loss Orders (GSLO): No protection against market gaps.
XM’s account structure covers a wide range but is primarily retail-focused; traders seeking ECN/STP execution or professional accounts may consider alternative brokers.
XM’s account system is comprehensive, registration is user-friendly, and the trading threshold is low. Both beginners and cost-conscious experienced traders can find suitable options at XM. With future additions of ECN/STP models and more advanced features, XM’s account offering would become even more complete.
When choosing a forex broker, transaction costs are a significant factor affecting profitability and trading experience. XM's overall fee structure is transparent, and its costs are competitive. A detailed analysis follows:
XM Fee Classification Overview
| Fee Type | Description | XM Performance |
| Trading Fees | Include spreads, commissions, and overnight financing fees. | Competitive, especially in "Ultra Low Account" and "Zero Spread Account". |
| Non-Trading Fees | Include account fees, inactivity fees, currency conversion fees, deposit and withdrawal fees, etc. | Generally low, free deposits, free withdrawals within limits. |
Spreads & Commissions
| Item | XM Description | FXKnow Review |
| Standard Account | No commission, spreads are included in the trading price. The average spread for EUR/USD is about 0.8 pips. | Simple cost structure, suitable for ordinary traders. |
| Ultra Low Account | Floating spreads, with the lowest spread for EUR/USD at 0.8 pips. | Good stability and transparent pricing. |
| Zero Spread Account | Spreads as low as 0.0 pips, with a round-turn commission of $7 per lot ( $3.5 per side ). | Extremely cost-effective for high-frequency and professional traders. |
| Comparison | Compared with IG, AvaTrade, and OANDA, XM is slightly inferior in major currency pairs but the gap is not | It is at an "above-average" level, and the zero spread account can significantly reduce costs. |
XM's spreads are competitive among major currency pairs, especially the Zero Point account, which performs exceptionally well in terms of total cost.
Swap / Overnight Interest
XM adds an extra charge on top of the overnight rate:
• Long positions: +0.5%
• Short positions: -1.5% XM does indeed add a percentage to the standard rate, but it's not the only one in the industry. The impact on traders with shorter holding periods is limited; long-term holders should be aware of the cumulative costs.
Deposit & Withdrawal Fees
| Item | XM Policy | FXKnow Analysis |
| Deposit | 0 Commission (All Methods are Free) | Excellent, industry-standard configuration. |
| Withdrawal | Free for amounts over $200; $15 charge for wire transfers under $200 | Generally trader-friendly, reasonable fees. |
| Processing Time | Usually Completed Within 1 Business Day | Fast speed, standardized process. |
XM performs well in terms of deposit and withdrawal fees, outperforming most similar CFD brokers.
Inactivity Fee
A $15 fee is charged after 90 days of inactivity; thereafter, $10 per month. Inactive accounts will lose reward points and promotional benefits.
| Broker | Charging Time | Monthly Fee | Notes |
| XM | After 90 Days | $15 | Early charging but low amount |
| OANDA | After 12 Months | $10 | Stable and moderate |
| AvaTrade | After 3 Months | $50 | High cost |
| FOREX.com | After 12 Months | $12 | Industry average |
XM's fee structure starts relatively early (90 days), which is slightly demanding, but the amount is reasonable. If you don't trade for an extended period, you should manually reactivate your account within 3 months to avoid being charged.
XM performs well in terms of fee transparency and overall cost. Its "Ultra-Low Account" and "Zero-Point Account" structures are clear, its spreads are competitive, and the free deposits and withdrawals are a plus. The only things to note are overnight premiums and a relatively short idle period. It is suitable for investors who prioritize low costs and high trading frequency.
XM Broker offers approximately 1,400 tradable instruments, covering multiple major asset classes including forex, equity CFDs, indices, commodities, precious metals, energy, and thematic indices.
Cryptocurrencies and turbo stocks are also available for trading in select regions, making it suitable for investors seeking diversified asset allocation.
| Asset Class | Number of Tradable Instruments | FXKnow Review and Analysis |
| Forex | 50+ | XM's forex products cover major, minor, and exotic currency pairs, with a quantity above the industry average. The quotes are stable and spreads are reasonable, suitable for intraday trading and automated strategy users. |
| Indices | 14 | It covers major global indices such as Dow Jones, Nasdaq, S&P 500, etc., and also provides thematic indices like AI, electric vehicles, and blockchain, with obvious product differentiation. |
| Commodities | 15 | It includes mainstream commodities such as gold, silver, crude oil, natural gas, and agricultural products, which can meet the needs of diversified portfolio, but the quantity is slightly less than some large brokers. |
| Stock CFDs | 1,300+ | One of the biggest advantages is that it covers listed companies in 18 countries around the world, including the United States, the United Kingdom, Europe, Brazil, Russia, etc., which is at the leading level among peer brokers. |
| Crypto CFDs | 20+ | It offers CFDs on mainstream cryptocurrencies (such as BTC, ETH, etc.), suitable for investors who want to experience multi-markets on one platform. Some regions are subject to regulatory restrictions. |
| Real Stocks, XM Global | 100 | XM Global clients can trade major stocks in the US, UK, and Germany directly, truly holding the underlying assets instead of just speculating on prices. |
| ETF / Bonds / Options | Not Available Temporarily | XM has not yet launched ETF, bond, and option products, which is slightly insufficient for multi-asset investors. |
Overall, XM offers a wide and practical range of trading instruments. Forex and equity CFDs constitute its core strength, with both quantity and market depth exceeding the industry average. The addition of thematic indices and physical stocks gives XM a differentiated competitive advantage among CFD brokers. However, for investors seeking ETFs, bonds, or options, XM's current product portfolio still has gaps.
XM excels in "trading instrument diversity," particularly leading its peers in equity CFDs and forex trading. For most investors, XM provides a sufficiently rich market selection to meet diverse forex and CFD investment needs. If ETF and options products are added in the future, XM's product system will be more complete, further enhancing its overall competitiveness.
XM Forex (XM Broker) supports the industry's most popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, available on desktop, web, and mobile (iOS/Android).In addition, XM offers its own mobile app, XM App, available for free download on the App Store and Google Play, providing a one-stop solution for trading and account management.
Available Platforms Overview
| Platform Type | Available Platforms | Key Features | FXKnow Review |
| Desktop Platform | MT4, MT5 | Supports Windows and Mac, with complete charting, EA automated trading, indicator library, order management, etc. | Stable performance, strong compatibility, and it’s the industry standard configuration. |
| Web-based Platform (WebTrader) | MT4, MT5 | No installation required, trade directly via browser login, features similar to the desktop version. | High convenience, suitable for light users. |
| Mobile Platform | XM App, MT4, MT5 (iOS/Android) | Provides instant order placement, market charts, account management and fund operation functions, supports multi-language and biometric login. | Smooth operation, concise design, suitable for trading anytime and anywhere. |
Platform Function Comparison
| Function | MT4 | MT5 | XM App |
| Supported Trading Instruments | Forex, CFDs | Forex, Stocks, Cryptocurrencies, CFDs | Forex, Stocks, Indices, Energies, etc. |
| Chart Timeframes | 9 Types | 21 Types | Multi-timeframe Adjustable |
| Technical Indicators | 30 Types | 38 Types | 90+ Moving Indicators |
| Graphic Tools | 24 Types | 37 Types | Complete Drawing Tools |
| Automated Trading (EA) | ✔ Supported | ✔ Supported (Stronger) | ✖ EA Not Supported |
| Real-time News & Analysis | ✔ | ✔ | ✔ (Integrated with XM Research Center) |
| Multi-language Support | 40+ Languages | 40+ Languages | 30+ Languages (Including Simplified/Traditional Chinese, Korean, Japanese) |
MT4 remains the industry standard for global retail traders, while MT5's multi-asset support and enhanced analytics make it more suitable for advanced traders.XM offers a seamless experience across three platforms, covering all core use cases for most investors.
XM Mobile Application (XM App)
| Item | Android | iOS |
| Minimum System Requirements | Android 7.0+ | iOS 15.0+ |
| User Rating | ★★★★☆ (4.3/5, 82K+ Reviews) | ★★★★★ (5/5) |
| Feature Highlights | Real-time Quotes, Fast Order Placement, Account Fund Management, News Analysis, 90+ Indicators, Instant Notifications | Supports Biometric Recognition and Two-factor Authentication, High Security |
| Tradable Assets | Forex, Stocks, Indices, Energies, Precious Metals, Cryptocurrency CFDs | Same as Above |
The XM App boasts a clear design, a smooth user experience, and supports account customization and security verification. While it lacks Expert Advisors (EAs) for automated trading, it is comprehensive enough for mobile investors.
Technical Strengths & Limitations
| Strengths | Limitations |
| ✅ Supports MT4 / MT5 platforms, industry-standard, stable and reliable | ❌ No self-developed desktop terminal (only third-party platforms) |
| ✅ Cross-device compatibility: seamless synchronization across desktop, web, and mobile | ❌ Does not support social / copy trading functions |
| ✅ Fully supports EA automated trading and script strategy execution | ❌ XM App does not support EA or plugin extensions |
| ✅ Supports over 30 languages, covering global users | ❌ Lacks advanced chart plugins and AI strategy tools |
| ✅ Two-factor authentication and biometric login, high security | ❌ No built-in market sentiment indicators or community features |
| ✅ XM App has a modern interface, smooth performance, and high user ratings | ❌ Slightly lower interactivity compared to some competitors (e.g., eToro, IG) |
| ✅ Supports real-time news push and market analysis | ❌ Lacks third-party plugin market expansion (e.g., TradingView integration) |
XM demonstrates strong performance in terms of technology and platform support. Its MT4/MT5 platform offers broad coverage and stable performance, while the XM-developed app provides users with a high-quality cross-device trading experience.
For most investors, XM's technological ecosystem already meets their complete trading needs, from analysis to execution. The addition of social trading and more intelligent tools in the future will further enhance its market competitiveness.
XM Forex (XM Broker) demonstrates strong commitment and professionalism in research and education, offering comprehensive and diverse content.
Research resources include daily market commentary, technical analysis, special reports, economic calendars, Reuters news summaries, and third-party signal tools (such as Autochartist). Furthermore, XM provides live video and audio analysis through XM TV and XM Podcasts, allowing traders to grasp market trends more intuitively.
In education, XM's Learning Center boasts a wealth of instructional videos and platform tutorials, covering trading fundamentals, risk management, and strategy application.
Its webinars support 19 languages, offer daily sessions, and are presented by senior analysts. Additionally, XM Live provides real-time interactive teaching, divided into "Beginner Rooms" and "Advanced Rooms," a relatively rare feature in the industry.
| Comparison Item | XM | Peer Brokers (e.g., AvaTrade / IG Markets) |
| Research Content Update Frequency | Daily Update + XM TV Live Video | Weekly or Periodic Update |
| Educational Formats | Videos, Live Broadcasts, Podcasts, Webinars | Primarily Pre-recorded Courses |
| Language Support | 19 Languages, Wide Coverage | Usually 5-10 Languages |
| Interactivity | XM Live Real-time Teaching, Q&A Interaction | Only Email or FAQ Formats |
| Research Tools | Integrated with Autochartist and Reuters News | Most Lack Real-time Signal Tools |
Overall, XM leads most competitors in the coverage and diversity of its research and education sections. From beginner to advanced, traders can access ample analytical support and learning resources. The only minor drawback is that some in-depth reports require login to access, but the overall content quality and update frequency are at a high level in the industry.
XM Forex (XM Broker) excels in customer support, offering services in over 30 languages and covering major global markets.Clients can obtain assistance through various means, including online chat, phone, email, and instant messaging (WhatsApp, Telegram).The overall response time is fast and the service quality is high, making it especially suitable for novice traders who require human assistance.
| Support Channel | Service Hours | Description |
| Personal Account Manager | Local Time 6:00–20:00 | Provides trading guidance and platform usage support, only for registered clients. |
| Frequently Asked Questions (FAQ) | 24/7 | The website content is comprehensive, covering account opening, deposits, withdrawals, and platform operations. |
| Live Chat | 24/5 | Provides real-time human customer service, with response within minutes. |
| Phone Support | 24/5 | European clients dial +357 25029933; Offshore clients dial +501 2236696 / +501 2279421. |
| 24/5 | Submitted via the website form, usually replied within hours. | |
| Instant Messaging (WhatsApp / Telegram) | 24/5 | Scan the QR code on the official website to contact customer service representatives directly. |
XM boasts a comprehensive and responsive customer service system, making it one of the few brokers in the industry capable of providing multilingual human support globally.Its personal account manager system and 24/7 online support ensure traders receive immediate assistance when encountering problems, placing it at the forefront of service experience in the forex industry.
You can learn more about us faster and better through our FAQs, and find the answers you need below.
FXKNOWS offers two trading platforms - MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both of these platforms have excellent reputations for usability with intuitive interfaces. However, you shouldn't confuse user-friendliness with low performance. They both offer advanced charting capabilities and high-level analytical tools and are a great fit for all trading levels.
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