4.35
Accepts Tanzanian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.
Pros
- Well regulated
- Excellent education
- Free deposits and withdrawals
Cons
- Dealing desk
- Wide spreads on its entry-level accounts
Pros and Cons
Pros
- A leader in beginner and advanced trader education and market research material.
- Low minimum deposit account for beginners.
- XM Zero account has below average trading costs for more serious traders.
- MT4 and MT5 support.
Cons
- Customer service 24/5 limits weekend availability.
Is XM Group Safe?
XM Group is the trading name of Trading Point Of Financial Instruments. XM Group has been regulated by ASIC (license 443670) since 2013, the “IFSC (000261/106) since 2017”, and CySEC (license 120/10) since 2010.
XM has won the award for the Best FX Broker Europe for 2017 & 2018 (World Finance Forex Awards 2017/8), an acknowledgement of this broker has achieved over the years. XM Group has also won awards for their educational material and customer support, winning Best Market Research & Education 2018 (Capital Finance International Magazine), Best Local Customer Service 2016 (FX168) and the Best Forex Customer Service (Shares Magazine UK Forex Awards 2018).
As per regulation, XM Group keeps client funds segregated from the day-to-day operational account of the broker. Every evening, an audit is run on all client accounts to ensure there is sufficient liquidity in the trading organisation.
These internal processes, industry recognition, and oversight from three major regulators shows that XM Group is a safe trading partner.
Trading Conditions
XM offers accounts with transparent commission structures on account types that apply, tight spreads as low as 0 pips on major currency pairs, and fractional pip pricing. All leverage number mentioned in this review are for non-EU residents. This website is targeted towards our South African audience, and thus we don’t include trading conditions for EU resident accounts.
Account Types
XM offers a Micro account, a Standard account, and Zero account in addition to a free demo account. XM Group offers an Islamic swap-free option on all account types.
Zero Account – The Zero Account from XM offers spreads as low as 0 pips and leverage up to 500:1. These account conditions are revolutionary in this industry, especially for a market maker. This account requires a 100 USD minimum deposit for new customers.
Micro Account – The Micro Account has a 5 USD minimum deposit requirement. The max leverage with this type of account is 1:500, but this beverage does not apply to all the entities of XM Group, and only if you are a resident of South Africa.
Standard Account – The Standard Account offers different bonuses, faster support and more access to the broker’s other features. The minimum deposit for this account is 5 USD. The main difference between the standard and micro-accounts is the contract size. The standard account uses standard lots, while the micro account uses micro-lots.
XM Minimum Deposit
The minimum deposit for the Micro and Standard Accounts is 5 USD.
Spreads and Commissions
Spreads on the Micro and Standard Accounts are as low as 1 pip, while the Zero Account has spreads as tight as 0 pips. The Micro and Standard Accounts do not charge any additional commissions on the trade, but a commission of USD 3.5 will be charged on trades of 1 standard lot with the Zero Account.
Deposit & Withdrawal Fees
XM Group does not charge any fees for deposits and withdrawals from credit/debit cards and e-wallets. XM covers all transaction fees both ways for clients.
For deposits and withdrawals via international bank transfers, XM covers all fees imposed by their bank on all amounts above 200 USD.
Bonus Structure
XM offers signup bonuses, no-deposit bonuses and loyalty bonuses for customers who are actively trading. At the time of writing, there was 30 USD of no-deposit Bonus, 50% up to 500 USD and 20% up to 5000 USD. Not that traders registered under Trading Point of Financial Instruments Ltd are not eligible for the bonus.
XM Group for Beginners
XM Group is a good broker for beginners with vast quantities of educational material, market analysis, webinars and seminars held around the world. The international customer service team is available for all client account and technical-related questions.
Educational Material
XM Group’s educational content focuses on instruction in a video format. Their core educational offerings are three Education Rooms, aimed at traders of differing skill levels (Primary, Intermediate and Advanced). The Primary Education Room is open to the general public but you will need to register for an XM Account for access to the others.
XM also has an extensive library of other educational videos and it hosts numerous seminars and webinars in over 18 languages.
Analysis Material
The research and analysis section of XM presents traders with a daily market preview, Forex previews, cryptocurrency analysis and special reports. Other sections that cover technical analysis, as well as analysis videos, focused on market fundamentals, assist clients in identify trading opportunities.
Customer Support
The award-winning customer service team at XM Group is available 24/5 via telephone, live chat and email.
Trading Platforms
XM presents traders the choice between the industry-standard MT4 platform, and the next generation trading product, MT5. It offers fast market execution and a no re-quotes policy on both platforms, though the MT5 platform offers 300 further stock CFDs.
The webtrader platform offers a seamless trading experience for traders who wish to trade from a web browser interface away from their regular workstations.
Mobile Trading Apps
The MT4 and MT5 mobile applications offer full XM account functionality to offer a seamless transition from the desktop application. The MT4 and MT5 applications vary in the number of technical indicators and instruments available to trade and have different chart types and market analysis tools.
Evaluation Method
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the XM Group offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
XM Group Risk Statement
Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. XM Group would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.61% 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. Please consider our Risk Disclosure.
Overview
XM Group is a serious market maker broker and provides a level of professional service beyond their peers. XM has been widely recognised and rewarded by the industry and, with regulation from CySEC, the IFSC, and ASIC along with support for the leading trading platforms, has strength in accountability and technology.
XM Group has extensive instructional documentation and support to get new traders started, as well as regular market forecasts and webinars to appeal to all traders.
FAQ
Is XM Safe?
Yes, is a trusted international broker. XM is regulated by ASIC in Australia and by CySEC in Europe. They have won multiple international awards.
What assets can I trade at XM?
Forex, stocks, commodities, indices, metals and energies.
What is the minimum deposit at XM?
Trading accounts can be opened for 5 USD. The minimum deposit for the for the professional XM Zero account is 100 USD.
Is XM good for beginners?
XM has some of the best beginner and advanced learning material in the industry, with additional daily market analysis for free to all clients.
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