XM Review 2024 - Is Legit or Scam | Forexing.com (2024)

XM Broker General Information

Our XM Broker Review

XM Group is a globally known online trading broker with 2.5 million clients from 196 countries. It provides low spreads quotes, no-requotes, negative balance protection, and fast executions to its clients. Our online broker research team has covered some of its most essential parts for users when you choose the best broker for online trading for a detailed XM group review.

Explanation

In 2008, XM group was founded and globally established trading broker with 2,500,000 customers from almost 196 countries. XM Group is based in Australia, Belize, and Cyprus, with 450 employees who have experienced many years in the financial industry. This experience is combined with customer service and rigid regulation in over 30 languages that make them the best broker for trading, from all levels and different expertise backgrounds.

XM Group offers 16 trading platforms, 24/5 customer service, and 25+ secure payment methods. They are very proud of being a fair and reputable broker with all users, receiving the same trading conditions for their investment and trading conditions.

Feature of XM broker

No-requote

XM Group offers no rejection and no requote policy for the 99.35% percent of trades and execute less than one second. They believe in trading; execution is everything for them.

Negative balance protection

XM Group offers clients negative balance protection, which means traders did not lose more than their account balance in case of a loss situation. They provide flexible condition and various platforms which suits to individual client’s needs.

Regulation XM group

XM Group is regulated by ASIC (Australian securities and commission) and Cyprus (Cyprus securities and exchange commissions). It ensures the client fund’s safety, and they abide by rigid regulatory standards. IFSC also regulates the XM broker group.

XM groups coordinated with regulatory entities for deposits and withdrawals for extra user protection. Client funds are held separately from company funds in one bank. It ensures that the XM group does not use these funds. The client also has negative balance protection.

XM Group is a member of the investor compensation fund and follows the principles given by MIFID (Market in financial instruments directive). XM group has an excellent policy for execution to provide the most suitable conditions to traders. They are collaborating with liquidity providers to offer low spread with a lot of liquidity all the time.

These factors, combined with no requotes and no extra commission policy to ensure that the XM group is the best broker among the other broker.

Policy for countries

XM accepts clients worldwide, except some of them, such as Canada, the USA, Israel, and Iran. Due to legal restrictions, some of the XM group’s features and products might not be available to traders from particular countries.

XM Trading Platforms

XM Group allows users to select 16 various famous Meta trader 4/5 trading platforms for PC and MAC. You can use web trading platforms directly in your browser without downloading and installing additional software and Meta Traders for mobile devices running on android and iOS. Mobile apps are beneficial for trading to access your account and go anywhere in the world. You only need an internet connection.

MetaTrader 4

MT4 has been used for all types of trading across the globe. It is very user-friendly and has a lot of tools for detailed chart analysis and trading efficiently. XM groups offer an MT4 trading platform with the fastest and quality execution. XM group users can trade on MT4 without rejection of orders, Flexible leverage, and no requotes.

MT4 follows a go platform for online trading, whatever your experience level or Style. XM have the best selection for the trading platform, video tutorial on their site helps to learn the use of MT4.

Features

MT4 has over 1000 instruments, including futures, CFDs, and forex. It has low spreads as 0 pips and one single login to access the eight platforms. It has one-click trading and a fully functional expert advisor. It has three chart types and technical analysis tools, with almost 50 indicators and charting tools. It also allows for hedging and VPS functionality. You have alert notifications through SMS, pop-ups, and emails.

MetaTrader 5

XM MT5 provides some unique features that Meta trader 4 offers, with more advanced trading tools and capabilities. It has an additional thousand CFDs on shares (stock), which make the XM5 multi-asset platform. You can trade CFDs, and forex on stocks, oil, gold, and equity indices from one platform with no requotes no rejection and flexible leverage. It also has a micro lot account as an optional.

Features

It has over a thousand instruments, including stock indices, CFDs, Forex, CFDs on energies, and CFDs on the precious metal. It has one single to access the seven platforms and low spreads as 0 pips. Meta trader 5 has EA functionality and one-click trading altogether. MT5 has supported all order types.

Meta trader 5 has more than 80 technical analysis objects and market depth of updated price quotes. MT5 has also allowed hedging. It is readily available on mobile devices, desktops, and the web.

Education for learning

XM group has a wide range of educational material within the research and education center. It also includes daily updates about economic events, markets, webinars, tutorial videos, and seminars. This section is updated continuously by market professionals and provides a diverse library of knowledge to help traders of all levels. This video library contains topics about introduction to the market, fundamental analysis, money management, trading essentials, and trading strategies.

Customer service

XM group has more than 450 employees for customer service available 24/5 in 30 languages. In 14 languages, 24/5 support is available via chat, SMS, phone, and email.

Conclusion

XM group knows that clients want transparent and fair-trading conditions with the fastest execution and possible spread. XM group following the model ensures that they are one of the best industry leaders for suitable trading conditions for users at all levels. Combined with a robust human and regulation approach, it makes the XM group one of the best trading brokers available for trading globally.

Besides this positive entity, 71.6% of retail investors suffer from loss when trading with this CFD provider. You need to understand how CFD works and take a risk and afford to lose your money.

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