xm forex

Regulators: ASIC, CYSEC, IFSC

Cryptocurrencies: No

Minimum Deposit: $5

Maximum Leverage: 1:888

Spreads: Low

My Score: 8.7

XM Forex Broker is one of the most well known forex brokers due to its aggressive marketing campaigns, serving thousands of traders from every corner of the world. The official website, xm.com, has about 5 million visitors per month which should tell something about the popularity of XM between forex traders.

XM Group is a group of regulated online brokers. Trading Point of Financial Instruments Ltd was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670) and XM Global Limited was established in 2017 and is regulated by the International Financial Services Commission (IFSC/60/354/TS/19).

xm forex review

XM Group does not provide services for citizens of certain regions, such as the United States of America, Canada, Israel and the Islamic Republic of Iran.

XM offers excellent trading conditions for trading in a wide range of instruments, including currency trading, CFDs on commodities, indices, energies and stocks and precious metals on two trading platforms MT4 and MT5.

Are you wondering Is XM scam or reliable broker?  Is Xm broker regulated? How can you deposit and withdraw your account? You are in the right place to find the answers of these questions.

In this XM forex broker review, Let’s look at account types review, XM bonus campaigns, deposit methods, VPS service and customer service.

Regulation and Investor Protection

When trading with a forex broker, trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry. Let’s see if Xm forex is a scam broker or reliable.

I checked the XM’s licenses because the official website, xm.com, had so many visitors and investors from different countries. Because only with a strong regulation can serve to such a wide variety of investors. XM is the brand name of Trading Point of Financial Instruments. This company is regulated in different countries.

XM Group is licensed also by ASIC in Australia (Trading Point of Financial Instruments Pty Limited), the IFSC in Belize (XM Global Limited) and by CySEC in Cyprus (Trading Point of Financial Instruments Ltd), adhering to enhanced regulatory standards.

Trading Point of Financial Instruments Ltd.CyprusCySEC
XM Global LTDBelizeIFSC
Trading Point of Financial Instruments PTY Ltd.AustraliaASIC


In addition to licenses, XM also offers further guarantee to clients’ funds in IFSC and CYSEC. The CYSEC regulated broker’s customer deposits are guaranteed up to 20,000 euro by Investor Compensation Fund. For now, however, Australian forex brokers are not covered by any compensation scheme.

XM Spreads and Account Types

XM Group offers its clients 4 types of account: MICRO, STANDARD, ZERO and ULTRA LOW with low spreads.

The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5.

The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5.

The XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $100. XM ZERO account has a $3.5 commission per $100,000 traded.

Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has minimum initial deposit of $50.
XM Ultra Low account is not applicable to all entities of the Group. Account availability depends on the client’s country of residency.

xm ultra low account

You may consider this article as a XM trader’s review. Now, in this part of the XM Trade review, let’s look at the features of these account types.

Account TypeMinimum DepositMaximum LeverageSpreads & CommissionsSwap-Free Opt
Micro$51:8881.7 pip on EUR/USDYes
Standard$51:8881.7 pip on EUR/USDYes
Zero$1001:300.1 pips on EUR/USD + $7 / lot (round trip)Yes
Ultra Low$501:8880.1 pip on EURUSDYes

*Accounts availability depends on the entity of the Group.

Base currencies of  both the standard account and the micro account are available in USD, EUR, GBP, JPY, CHF,‎AUD, HUF, PLN, RUB, SGD, ZAR. In contrast, the Zero Account’s base currencies is USD and EUR. All account types have negative balance protection service and Islamic account option. XM Ultra Low Account available currencies are EUR, USD, GBP, AUD, ZAR, SGD.

XM’s minimum deposit is 5 dollars in Micro and Standard account. However, the Zero account’s minimum deposit of $ 100. XM spreads (average) is 1.7 pips on EURUSD in Micro and Standard accounts. In the Zero account, spreads are 0.1 pips, but there is a $ 7 commission as round turn.

Leverage is the amplification of your balance. This allows you to open bigger trading positions according to the leverage you have chosen. XM offers 1:888 leverage for micro account, standart account and XM Ultra Low account. The leverage is 1:30 for zero account type. Even though with leverage you can make a higher profit, there is also a risk of having a higher loss because the positions you open will be of higher volume.

This Leverage does not apply to all the entities of the Group. Leverage depends on the financial instrument traded and on client’s country of residence.

You can open up to a maximum of 8 active trading accounts in broker xm. It is optional to use the same personal details as for your other xm forex account. There is no maximum amount you can trade online, but there is a maximum number of 50 standart lots you can tradeonline at streaming prices for standart accounts and 100 micro lots for micro accounts.

The maximum number of positions open at the same time, and for all account types, is 200. If you want to deal in an amount higher than your account type’s maximum lots, you may break your trade into smaller sizes.

xm forex account types review - zero account review - standard account review
XM Account Types Review

Standard Account Review

The standard account is similar to the normal account on other forex brokers. Minimum deposit limit in this account type is $5 which is really low. I think XM is one of the best forex brokers with low deposit. Spreads offered as 1.7 pips which is average on the forex industry. Maximum leverage is 1:888. This feature is one of the highest leverage. This is advantageus for professional traders who want to use forex robots like Expert Advisor in Meta Trader.

Micro Account Review

Micro account is essentially a nano account type. 1 lot = 1000 units in this account type. Normally 1 lot is equal to 100,000 units. So if you open 1 standard lot EURUSD buy order, you will get 100.000 euros in. However, in the micro account you will get 1000 euros.

It’s called nano account. Nano accounts are mostly used for testing or educational purposes. For example, if you have a forex robot that you want to try, you can try it on the nano account. So you do not have to take risks. Sometimes investors who want to try a new trading strategy can use the nano account. That’s exactly what XM’s micro account type does.

I would recommend FXTM’s cent account if you want to use a nano account type on another broker that offers similar features.

Zero Account Review

This account type is actually a type of ECN account. Spreads in this type of account are as low as 0.1 pips. But there are commissions as additional cost. XM’s zero account commissions are $ 3.5 per lot. However, commissions are charged both when opening and closing order. Hence, $7 commission is charged as round turn for 1-lot trading.

Compared to standard account types, the advantage of this account type is that you don’t often encounter the problem of spreading. Because a significant part of the spread cost is reflected as commission.

Islamic Account Review

Muslim investors who do not want to earn or pay interest can opt for an XM’s Islamic account. You have to apply to XM for this. Later, the broker may ask you to document your religious faith. XM also has the right to reject your application.

Trading Platforms

XM offer a variety of trading platforms, including MT4, MT5 and Web Trader. The Web Trader platform is excellent because a client can access real-time market information directly from the website without the need to download any software.

Meta Trader 4 is one of the most popular system currently in trading sector. All prices and movements are clear and the platform has user-friendly nature. This will vastly increase the performance of any trader. And also, manual and auto trading options are available through MT4.

XM supports MT5 also. Both MT4 and MT5 platforms are available among hundreds of online forex brokers, with the native version of the desktop platforms available for Windows operating system (OS) and a Mobile app for Android and Apple iOS devices available.

XM provides MT4 MultiTerminal, which offers a practical and suitable way to manage multiple accounts at the same time from a single interface.

Trading Instruments

This broker has more than 1000 financial instruments which can be traded on the MT4/MT5 platforms and this includes Forex Trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs.

XM Bonus and Promotions

It is one of the most generous of the bonus companies. I can give an example of FBS for another. However, the fact that XM has more reliable licenses allows it to be in the one of the first places on my favorite brokers list. In this part of the XM broker review, Lets see XM bonus and promotions .

Clients registered under Trading Point of Financial Instruments Ltd are not eligible for the bonus.

$30 XM Forex No Deposit Bonus

You do not need to funding to benefit from no deposit bonuses. Generally, brokers provide no deposit bonus campaigns to help customers recognize themselves and to overcome trust problems. For more information on bonus types, read the article of Best Forex Bonuses and Promotions.

Now let’s look at the conditions of $30 XM no deposit bonus. This is the campaign that XM has most advertised. Perhaps you’ve heard of this campaign before? What are the conditions for this no deposit bonus campaign? I will show you the xm no deposit bonus review below.

XM is one of the major addresses of investors who want to have a no deposit bonus. First of all, the currency may change. If you wish, you can choose from $ 30 instead of 25 EUR, 20 GBP, 25 CHF, 3000 JPY, 30 AUD, 1000 RUB, 100 PLN, 7000 HUF, 40 SGD, 347 ZAR. Only new clients can benefit from the XM no deposit bonus campaign. $30 in the campaign can not be withdrawable, but profits can be withdrawable. You must claim the bonus within 30 days of opening the account.

XM Deposit Bonus – %50 up to $500 + $20 up to $4500

Deposit bonuses are the type of bonus you can claim for when you fund a certain amount. For example, in a broker with 80% bonus campaign, when you deposit $ 100, you will get a $ 80 bonus. XM deposit bonus is one of these promotions.

When you deposit to XM, you get a 50% bonus until the amount of the bonus is $ 500. For example; You funded $ 1000. 50% of this is $ 500. So the balance of your fx account is $ 1500.

If you fund $ 1200 you will get a $700 bonus via this way:

50% on $ 1,000 + 20% on $ 1,000 = $ 500 + $ 200

The maximum XM deposit bonus you can get in this campaign is $ 5000. You can not withdraw bonuses, but you can withdraw profits at any point in time. If you use XM Zero Account, you can not use this campaign. I tried to tell all informaiton in this xm bonus review. This xm.com review contains information about the xm.com bonus that you won’t find in other xm reviews.

Free VPS

XM VPS service is one of the most popular services for professional investors using a forex robot. This promotion is usually preferred by investors who use forex robots. XM gives you free access to the VPS so that your trade will not be interrupted in the event of internet connention failures, computer errors, power cuts, etc…

Customer Services

XM supports a wide range of languages including Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish. And the brokers’ website, www.xm.com, supports +20 languages.

XM’s Withdrawal and Deposit Methods

There are a variety of ways to deposit and withdraw money in brokers that serve different countries of the world. XM also offers a variety of withdrawal methods because it has investors from many countries. The withdrawal and deposit methods are as follows:

MethodsCurrenciesFeesProcesssing Tİme
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGDCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZARCovered by XM24 hours
EUR, USD, RUBCovered by XM24 hours
USDCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGDCovered by XM24 hours
USD, RUBCovered by XM24 hours
MethodsCurrenciesFeesProcesssing Tİme
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZARCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGDCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, PLN, HUF, SGD, ZARCovered by XM24 hours
EUR, USD, RUBCovered by XM24 hours
USDCovered by XM24 hours
USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGDCovered by XM24 hours
USD, RUBCovered by XM24 hours

By choosing one of these methods you can deposit and withdraw money.

As you’ll see in the Deposit Methods table, the deposit methods are pretty varied. A significant proportion of popular e-wallet systems can be available. Of course, I would recommend the credit card as the fastest deposit method. Unfortunately, it is not possible to deposit or withdraw by using Paypal for now.

Final Thoughts

I have also tried XM as an trader who has been trading for a long time. XM really serves high execution speed and client satisfaction. The company has won several awards in both these fields. It also has a strong regulation. After all of this, there is no point to complain about. I would advise you to open an account on the XM Forex broker.

Is XM Forex Reliable?

XM Forex is one of the most reputable forex brokers. It is regulated by different regulators. These are ASIC, CySEC and IFSC.

What is the minimum deposit for XM Forex?

XM Forex minimum deposit is just $5. Also, its spreads are very competitive. This XM Forex reviewhelps you to for more information.

What are the payment methods offered by XM Forex?

XM Forex broker offers various deposit and withdrawal options. Credit Card, bank wire transfer, Skrill, Neteller, fasapay and more are available.

What are the account types of XM Forex?

XM Forex offers three different account types to its clients. Micro, Standard and Zero accounts are the offers. The Micro and Standard accounts are similar. But the Zero account has differences. For mor information read my XM Forex review.

Is there any bonus in XM Forex?

XM Forex no deposit bonus is one of the bonuses offered by the broker. You don’t need to deposit to take this XM Forex $30 no deposit bonus. This bonus cannot withdraw but profits can withdraw.

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Commissions and fees


Customer Service


Platform & Tools


Product Portfolio



  • Strong regulations (FCA, ASIC, CYSEC)
  • Tight spreads
  • 400+ trading instruments
  • Bonuses and promotions
  • Fast execution speed


  • Single-stock CFDs only available on MT5