XM Review

 

Overall, XM can be summarized as a trustworthy and regulated Forex Broker with competitive trading fees. XM offers an easy-to-use social copy trading platform with excellent customer support.  XM has a trust score of 90 out of 99.

 

🔑Order Execution	5/5
💴Commissions and Fees	4/5
📈Range of Markets	4/5
📊Variety of Markets	5/5
⏰Withdrawal Speed	4/5
🤝Customer Support	5/5
📉Trading Platform	5/5
🎓Education	4/5
📝Research	4/5
🚨Regulation	5/5
📱Mobile Trading	5/5
💯Trust Score	90%

 

 

XM Review – Analysis of Brokers’ Main Features

 

1. ☑️ XM Overview
2. ☑️ XM Detailed Summary
3. ☑️ XM Advantages Over Competitors
4. ☑️ Who will Benefit from Trading with XM?
5. ☑️ XM Safety and Security
6. ☑️ XM Bonus Offers and Promotions
7. ☑️ XM Affiliate Program Features
8. ☑️ XM Minimum Deposit
9. ☑️ XM Account Types and Features
10. ☑️ XM Base Account Currencies and Basic Order Types
11. ☑️ How to Open and Close an XM Account
12. ☑️ Social Trading with XM
13. ☑️ XM Trading Platforms
14. ☑️ Which Markets Can You Trade with XM?
15. ☑️ XM Fees, Spreads, and Commissions
16. ☑️ XM Deposits and Withdrawals
17. ☑️ XM Education and Research
18. ☑️ XM Customer Support
19. ☑️ XM VPS Review
20. ☑️ XM Cashback Rebates Features and Conditions
21. ☑️ XM Web Traffic Report
22. ☑️ XM Geographic Reach and Limitations
23. ☑️ Best Countries by Traders
24. ☑️ XM vs Capital.com vs BDSwiss – A Comparison
25. ☑️ XM Alternatives
26. ☑️ XM Awards and Recognition
27. ☑️ Our Experience with XM
28. ☑️ Recommendations according to our in-depth review of XM
29. ☑️ XM Customer Reviews
30. ☑️ Pros and Cons of Trading with XM
31. ☑️ In Conclusion
32. ☑️ Frequently Asked Questions

 

 

XM Overview

 

For Emirati traders, XM is a forex and CFD broker that is well-regulated and secure. The broker provides flexible trading conditions to meet the needs of both novice and experienced traders.

Furthermore, XM is a good choice for traders from the United Arab Emirates because the broker meets the local regulator’s requirements. Traders at XM Dubai can trade with floating spreads as low as 0 pips, leverage as high as 1:1000, and ultra-fast order execution with no requote.

The broker provides Ultra Low Micro and Ultra Low Standard Accounts, suitable for novice and experienced traders. XM welcomes Dubai Forex traders with a 30% first-investment match bonus.

XM has held hundreds of seminars worldwide to educate traders and help them make better trading decisions. In Dubai and Abu Dhabi, the broker offers free forex and CFD trading workshops where traders can learn trading strategies, technical and fundamental analysis, and more.

XM promotes long-term workforce development across a diverse range of cultures and approaches the needs of traders with sensitivity to cultural, national, ethnic, and religious differences.

XM is the broker of choice for traders of all levels and worldwide due to its extensive experience and support for over 30 languages. XM has high client retention because of its innovative approach to customer service and outstanding support.

 

 

XM Detailed Summary

 

🔑Broker	🥇XM
🏡Headquartered	Belize
🌎Global Offices	Belize, South Africa, Australia, Cyprus, Dubai
📍Local Market Regulators in Dubai	Dubai Financial Services Authority (DFSA)
💱Foreign Direct Investment in Dubai	23 billion USD (2022)
➡️Foreign Exchange Reserves in Dubai	158 billion USD (July 2023)
📌Local office in Dubai	✅Yes
👤Governor of SEC in Dubai	Khaled Mohamed Balama is the Governor of the Central Bank of the UAE
👍Accepts Dubai Traders	✅Yes
🎉Year Founded	2009
☎️Dubai Office Contact Number	None
📱Social Media Platforms	Facebook X YouTube Instagram LinkedIn
🚨Regulation	FSCA, IFSC, ASIC, CySEC, DFSA, FCA
🥇Tier-1 Licenses	Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA)
🥈Tier-2 Licenses	Financial Sector Conduct Authority (FSCA) Dubai Financial Services Authority (DFSA) Cyprus Securities and Exchange Commission (CySEC)
🥉Tier-3 Licenses	International Financial Services Commission (IFSC)
🔢License Number	Belize – 000261/158 South Africa – 49976 Australia – ABN 32 164 367 113, AFSL 443670 Cyprus – 120/10 Dubai – F003484 United Kingdom - 705428
🖋️DFSA Regulation	✅Yes
⚠️Regional Restrictions	The United States, Canada, Israel, the Islamic Republic of Iran
☪️Islamic Account	✅Yes
🆓Demo Account	✅Yes
🔎Non-expiring Demo	✅Yes, if it remains in use
⏰Demo Duration	Unlimited, but inactive accounts expire after 90 days
📈Retail Investor Accounts	4
📝PAMM Accounts	None
💧Liquidity Providers	Unknown
👥Affiliate Program	✅Yes
🗂️Order Execution	Market, Instant
✏️OCO Orders	None
▶️One-Click Trading	✅Yes
💹Scalping	✅Yes
🧱Hedging	✅Yes
🎓Expert Advisors	✅Yes
🗞️News Trading	✅Yes
💻Trading API	None
📉Starting spread	From 0.7 pips
💰Minimum Commission per Trade	From $1 per share
💴Decimal Pricing	5th Decimal after the comma
📒Margin Call	50% to 100% (EU)
⛔Stop-Out	20% to 50% (EU)
⬇️Minimum Trade Size	0.01 lots
⬆️Maximum Trade Size	100 lots
🪙Crypto trading offered	✅Yes
🗂️Offers an AED Account	None
👤Dedicated Dubai Account Manager	None
📈Maximum Leverage	1:1000
⚠️Leverage Restrictions for Dubai	None
💵Minimum Deposit (AED)	18 AED ($5)
💶Deposit Currencies	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
💷AED Deposits Allowed	No
💴Account Base Currency	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📈Active Dubai Trader Stats	49,000+
📍Active Dubai-based XM customers	Unknown
🔃Dubai Daily Forex Turnover	13.1 billion USD
💳Deposit and Withdrawal Options	Credit Card Debit Card Bank Wire Transfer Local Bank Transfer Skrill Neteller WebMoney
⏰Minimum Withdrawal Time	1 working day
⏱️Maximum Estimated Withdrawal Time	5 working days
➡️Instant Deposits and Instant Withdrawals	✅Yes, deposits
↘️Segregated Accounts with Emirati Banks	None
📊Trading Platforms	MetaTrader 4 MetaTrader 5 XM Mobile App
🕰️Trading Platform Time	UTC +03:00
👁️Observe DST Change	✅Yes
🌐DST Change Time zone	Eastern European Time (EET)
💎Tradable Assets	Forex Cryptocurrencies Stock CFDs Commodities Equity Indices Precious Metals Energies Individual Shares Turbo Stocks
💵Offers USD/AED currency pair	None
📈USD/AED Average Spread	None
📉Offers Emirati Stocks and CFDs	None
🔊Languages supported on the Website	English, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others
🗺️Customer Support Languages	Multilingual
🤝Copy Trading Support	✅Yes
⏲️Customer Service Hours	24/7
📍Dubai-based customer support	None
💰Bonuses and Promotions for Dubai Traders	✅Yes
🎓Education for Emirati beginners	✅Yes
💻Proprietary trading software	✅Yes
🏆Most Successful Trader in Dubai	Several – Yasser R, Ali A, Maaz A, Warren Takunda
👍Is XM a safe broker for Dubai Traders	✅Yes
🏅Rating for XM Dubai	9/10
💯Trust score for XM Dubai	90%

 

 

XM Advantages Over Competitors

 

XM has the following advantages over competitors:

 

• ✅Both novice and experienced traders can benefit from extensive educational resources.
• ✅Trading Central’s tools, in-house research offerings, and market research tools provided by XM are all excellent.
• ✅XM offers the entire MetaTrader suite, including a signals market for copy trading and the Analyzer algorithm.
• ✅XM has served over 10 million clients and executed over 2.4 billion trades since its inception in 2009.
• ✅With a Trust Score of 90 out of 99, XM’s authorization by multiple Tier-1 regulators adds to its credibility.
• ✅XM offers 1,429 CFDs, including 55 forex pairs, for a wide range of trading options.
• ✅XM offers a wide range of high-quality educational content, including webinars, articles, and Tradepedia courses.
• ✅The research content provided by XM, which includes daily videos, podcasts, and well-organized articles, sets it apart from competitors.
• ✅XM guarantees fills for market, stop-loss, and limit orders on trades of up to 50 lots (5 million units of currency).

 

 

and more!

 

 

Who will Benefit from Trading with XM?

 

Beginner Traders

XM is ideal for people who are new to trading. The platform provides a comprehensive educational suite with webinars, seminars, video tutorials, and courses. These resources provide beginners with essential knowledge and strategies, laying a solid foundation for their trading journey.

 

CFD Traders

With over 1,429 CFDs available across multiple asset classes, such as commodities, indices, and cryptocurrencies, XM is an excellent platform for traders looking to diversify their portfolios using Contract for Differences (CFDs).

 

High-Volume Traders

For traders who execute a high volume of trades, XM’s cashback rebate program provides direct rebates into their trading accounts. This incentive encourages active trading and can increase profitability.

 

Traders Who Prefer MetaTrader

XM is a MetaTrader-only broker, making it an excellent choice for traders familiar with or who prefer using the MetaTrader suite. The seamless integration with MetaTrader enhances the trading experience by introducing new tools and features.

 

Risk-Averse Traders

The platform’s high leverage and guaranteed fills for specific order types enable traders to manage large positions with a relatively small capital outlay. This feature is handy for risk-averse individuals.

 

Experienced Forex Traders

XM offers competitive spreads, high leverage of up to 1:1000, and a diverse selection of 55 forex pairs. These features make it an appealing platform for seasoned forex traders looking for favorable trading conditions.

 

Traders Seeking Bonuses and Incentives

XM offers a variety of bonuses, including welcome and deposit bonuses, that add value to new and existing clients. These promotions make XM an appealing option for traders seeking additional financial incentives.

 

 

What sets XM apart from its competitors in terms of trading platforms?

XM provides advanced trading platforms such as MetaTrader 4 and MetaTrader 5, which offer robust tools and quick trade execution to accommodate a variety of trading styles.

 

Are there any unique promotions that XM offers?

XM gives new accounts a $30 credit and deposit bonuses of up to $4,000, which is more generous than many competitors.

 

 

 

XM Safety and Security

 

XM Regulation in Dubai

 

XM is regulated by the Dubai Financial Services Authority (DFSA) under Trading Point MENA Limited. Furthermore, XM’s other global regulations are listed in the table below:

 

🔑Registered Entity	🌎Country of Registration	🔢Registration Number	🚨Regulatory Entity	🎖️Tier	🖋️License Number/Ref
1️⃣XM Global Limited	Belize	N/A	IFSC	3	000261/158
2️⃣Key Way Financial (Pty) Ltd	South Africa	2018/527968/07	FSCA	2	49976
3️⃣Trading Point of Financial Instruments Pty Ltd	Australia	ABN 32 164 367	ASIC	1	AFSL 443670
4️⃣Trading Point of Financial Instruments Ltd	Cyprus	N/A	CySEC	2	120/10
5️⃣Trading Point MENA Limited	Dubai	N/A	DFSA	2	F003484
6️⃣Trading Point of Financial Instruments UK Limited	United Kingdom	09436004	FCA	1	705428

 

XM Protection of Client Funds

 

🔑Security Measure	ℹ️ Information
🔒Segregated Accounts	✅Yes
🔏Compensation Fund Member	✅Yes
🔐Compensation Amount	€20,000 or 90% of the covered investors claim, whichever is lower.
🔓SSL Certificate	✅Yes
🗝️2FA (Where Applicable)	✅Yes
🔒Privacy Policy in Place	✅Yes
🔏Risk Warning Provided	✅Yes
🔐Negative Balance Protection	✅Yes
🔓Guaranteed Stop-Loss Orders	✅Yes

 

Security while Trading

 

Trading security is important to XM. CySEC, ASIC, FCA, FSCA, DFSA, and the IFSC regulate the broker. XM must follow strict rules to protect its clients’ funds and personal information.

XM protects client data and transactions with advanced security. Broker servers and clients’ devices communicate using SSL encryption. All data between the client and broker is encrypted and cannot be intercepted.

XM also separates clients’ funds from the broker’s operating funds in segregated accounts. This protects clients’ funds if the broker fails.

Two-factor authentication (2FA) adds security to XM accounts. Clients must enter a unique code generated by an authentication app and their password to log in with 2FA.

 

Pros and Cons of Regulation and Safety of Funds

 

✅Pros	❎Cons
XM is locally regulated in Dubai by the DFSA, a Tier-2 regulatory entity	Investor protection is not offered in all regions
XM is multi-regulated by several other entities worldwide	Traders can still lose their entire investment regardless of negative balance protection

 

 

What security protocols does XM employ?

XM employs advanced security protocols such as SSL encryption to protect user data and financial transactions.

 

Does XM offer negative balance protection?

Yes, XM offers negative balance protection to keep clients from losing more money than they deposit.

 

 

 

XM Bonus Offers and Promotions

 

XM offers Emirati traders the following bonuses and promotions:

 

• ✅XM provides a referral program and a loyalty bonus to XM Radio fans, demonstrating the platform’s commitment to cultivating a sense of community and appreciation among traders.
• ✅Deposits and withdrawals of up to $200 are fee-free with major credit cards, electronic payment providers, or bank wire transfers, demonstrating XM’s commitment to facilitating seamless financial transactions for eligible traders.
• ✅Traders who sign up for an XM account receive a $30 credit in their account, regardless of whether they make an initial deposit. This bonus can be used to test the platform and trade in the system.
• ✅XM offers deposit bonuses of up to 50% and 20%, with a $4,000 cap, to help traders increase their trading capital. The 20% deposit bonus is one of the most valuable bonuses on the platform, providing traders with significant trading capital.
• ✅The XM Gala Event is a standout event on the XM calendar, a platform-wide celebration in which traders compete for incredible prizes worth more than $30,000.
• ✅For those already members of the XM community, an exciting “Trade and Win” initiative awaits, offering the opportunity to participate in contests and events that promise excitement and potential rewards.

 

 

Does XM offer any deposit bonuses?

Yes, XM offers a 50% deposit bonus and a 20% deposit bonus, which are capped at $4,000.

 

Are there any XM trading contests?

Yes, XM hosts the Gala Event 2023 and the “Trade and Win” initiative, which offer prizes and rewards.

 

 

 

XM Affiliate Program Features

 

Individuals and businesses can earn commissions by referring new clients to the broker through XM’s affiliate program. Here’s a rundown of XM’s affiliate program:

 

• ✅The affiliate program at XM is governed by an affiliation agreement, which outlines the full terms and conditions for applying for membership in the program. The agreement defines both parties’ responsibilities and ensures that the affiliate program operates fairly and transparently.
• ✅The affiliate program at XM provides a commission structure based on a fixed fee or percentage agreed upon by the parties per lot on clients who enter into trades. The number of clients determines the commission rate referred to and the trading volume generated by those clients.
• ✅XM’s affiliate program pays up to $25 per lot, among the industry’s highest. Affiliates can also use various marketing tools, such as banners, links, and subscription offers, to help promote XM to potential customers.
• ✅To become an XM affiliate, simply sign up for an account on the XM Partners website. There are no other requirements or qualifications to become an affiliate.
• ✅XM provides its affiliates with dedicated support, including a personal account manager, marketing materials, and real-time reporting tools. This assistance assists affiliates in optimizing their marketing efforts and increasing their earnings.

 

How to open an Affiliate Account with XM

 

To register an Affiliate Account, Emirati traders can follow these steps:

 

• ✅Proceed to the “Affiliates” section of the XM website.
• ✅Select “Join Now” and complete the application form online. This includes providing your personal and contact information and selecting your preferred payment method and account currency.
• ✅After receiving your application, XM will evaluate and approve it, which could take several days.
• ✅If your application is accepted, you will gain access to the affiliate dashboard, which contains a wealth of promotional materials, such as banners and links, to help you promote the platform effectively.

 

 

Finally, you will profit from introducing XM to your target audience and earn commissions for each new customer you refer. Payment rates and intervals may vary depending on the nature of the referral and the number of customers referred.

 

 

What information is required for registration on XM?

You will need to provide personal, address, contact, and business information during registration.

 

Is there a minimum requirement to become an affiliate?

No, no minimum requirement for becoming an XM affiliate has been made public.

 

What is the commission structure for XM affiliates?

Commission rates for clients referred by affiliates can reach up to $25 per lot.

 

Are there any promotional resources provided with the XM affiliate program?

Yes, XM offers affiliates a variety of promotional resources as well as real-time data and analytics.

 

 

 

XM Minimum Deposit

 

🔑Live Account	💵Minimum Dep.
🥇Micro	18 AED ($5)
🥈Standard	18 AED ($5)
🥉XM Ultra-Low	18 AED ($5)
🎖️Shares	36,700 AED ($10,000)

 

 

Are there any fees associated with making an XM minimum deposit?

No fees are associated with making the minimum deposit with XM.

 

Is the XM minimum deposit refundable?

There is no fee for the minimum deposit; it is available for trading; it can be withdrawn per XM’s withdrawal policies.

 

 

 

XM Account Types and Features

 

🔑Live Account	💶Minimum Dep.	📉Average Spread	💰Commissions	💴Average Trading Cost
🥇Micro	$5	1.7 pip	None	17 USD
🥈Standard	$5	1.7 pip	None	17 USD
🥉XM Ultra-Low	$5	0.7 pips	None	7 USD
🏅Shares	$10,000	Per exchange	From $1	1 USD

 

XM Micro Account

 

The XM Micro account is ideal for new traders or those who prefer to trade smaller amounts. It accepts a small initial deposit and provides flexible leverage options, making it suitable for traders with limited capital.

 

🔑Account Feature	ℹ️ Value
💷Base Currency Options	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📈Position Size	1,000 base currency units = 1 Lot
📉Maximum Leverage Ratio	Account balance of $5 - $20,000 = 1:1 to 1:888 $20,001 to $100,000 = 1:1 to 1:200 $100,001+ - 1:1 to 1:100
🚩Negative Balance Protection Applied	✅Yes, to all retail accounts
📊The average spread on all major forex pairs	1.7 pip EUR/USD
💰Commission charges	None
📝Maximum open or pending orders per trader	300 lots
💻Minimum trade volume MetaTrader 4	0.1 lot
🖥️Minimum trade volume MetaTrader 5	0.1 lot
🧱Hedging allowed	✅Yes
⚠️Lot Restrictions per trade	100 lots
☪️Is an Islamic Account offered	✅Yes
💵Minimum Deposit Requirement	18 AED ($5)

 

 

XM Standard Account

 

The XM Standard account is designed for more experienced traders and provides access to a broader range of financial instruments. It offers greater flexibility in terms of trading volume and competitive spreads.

 

🔑Account Feature	ℹ️ Value
💴Base Currency Options	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📈Position Size	100,000 base currency units = 1 Lot
📉Maximum Leverage Ratio	Account balance of $5 - $20,000 = 1:1 to 1:888 $20,001 to $100,000 = 1:1 to 1:200 $100,001+ - 1:1 to 1:100
📊Negative Balance Protection Applied	✅Yes, to all retail accounts
🚩The average spread on all major forex pairs	1.7 pip EUR/USD
💰Commission charges	None
📝Maximum open or pending orders per trader	300 lots
⬇️Minimum trade volume	0.1 lot
🧱Hedging allowed	✅Yes
⚠️Lot Restrictions per trade	50 lots
☪️Is an Islamic Account offered	✅Yes
💶Minimum Deposit Requirement	18 AED ($5)

 

 

XM Ultra-Low Account

 

The XM Ultra-Low account is an excellent choice for traders looking for even lower spreads. This account type has ultra-low spreads and is ideal for traders who trade frequently and want to keep trading costs to a minimum.

 

🔑Account Feature	ℹ️ Value
💴Base Currency Options	EUR, USD, GBP, AUD, ZAR, SGD
📈Position Size	Standard Ultra – 100,000 = 1 lot Micro Ultra – 1,000 = 1 lot
📉Maximum Leverage Ratio	Account balance of $5 - $20,000 = 1:1 to 1:888 $20,001 to $100,000 = 1:1 to 1:200 $100,001+ - 1:1 to 1:100
📊Negative Balance Protection Applied	✅Yes, to all retail accounts
🚩The average spread on all major forex pairs	0.7 pips EUR/USD
💰Commission charges	None
⬆️Maximum open or pending orders per trader	300 lots
⬇️Minimum trade volume	Standard Ultra – 0.01 lots Micro Ultra – 0.1 lots
🧱Hedging allowed	✅Yes
⚠️Lot Restrictions per trade	Standard Ultra – 50 lots Micro Ultra – 100 lots
☪️Is an Islamic Account offered	✅Yes
💷Minimum Deposit Requirement	18 AED ($5)

 

 

XM Shares Account

 

The XM Shares account is designed for traders who want to trade individual company shares. It gives traders direct access to over 1,200 individual stocks and allows them to diversify their portfolios by investing in different industries.

 

🔑Account Feature	ℹ️ Value
💴Base Currency Options	USD
📝Position Size	1 Share
📈Maximum Leverage Ratio	None
📉Negative Balance Protection Applied	✅Yes, to all retail accounts
📊The average spread on all major forex pairs	According to the exchange
💰Commission charges	From $1 per share
🗂️Maximum open or pending orders per trader	50 lots
⬇️Minimum trade volume	1 lot
🧱Hedging allowed	None
⚠️Lot Restrictions per trade	It will depend on each share
☪️Is an Islamic Account offered	✅Yes
💶Minimum Deposit Requirement	36,700 AED ($10,000)

 

 

XM Demo Account

 

XM provides a demo account that allows traders to practice virtual currency in a live trading environment.

Beginner traders can use a demo account to learn how to invest, familiarize themselves with the platform, open, manage, and close positions, analyze the market situation, make proper trading decisions, improve their strategy, and test their potential before moving to a real money account.

The XM demo account is unlimited, free, and simple to set up. It includes all live account markets and assets, a variety of account types to try, and free educational content. The demo account is available on MT4 and MT5 platforms, and traders are given $100,000 in virtual money to trade with.

The great thing about XM’s demo account is that traders can enjoy a trading experience that is very similar to live trading. The demo account enables traders to test their strategies before implementing the most effective ones on their live accounts.

However, it is important to note that demo trading only exposes traders to virtual risk and thus does not provide them with a true sense of risk management. Dealing with emotions is just as important as dealing with money, and a virtual world does not fully involve real emotions.

 

 

XM Islamic Account

 

For Muslim faith traders, XM offers Islamic accounts, also known as swap-free accounts, on Micro-, Standard-, Ultra Low-, and Shares accounts. These accounts are ideal for traders who adhere to the Islamic faith and wish to trade following their beliefs.

Islamic accounts are swap-free, meaning no interest is charged or paid on overnight positions, which Islamic law prohibits.

Islamic accounts from XM provide the same trading conditions as regular accounts but without the swap fees. Traders have access to the same leverage, spreads, and execution speeds as they would with a traditional account.

Negative balance protection is provided by XM’s Islamic accounts, which means that traders cannot lose more than the balance of funds in their trading accounts.

However, traders must exercise caution when using high leverage levels, as this increases the risk of losses that exceed the trader’s initial deposit.

Despite this, XM provides negative balance protection; however, traders may still incur losses equal to the balance of funds in their trading accounts, for which XM cannot be held liable.

 

 

Pros and Cons of XM Account Types and Features

 

✅Pros	❎Cons
XM offers a Micro Account with small position sizes and lower risk	The spreads and subsequent trading costs on the Micro and Standard Accounts are extremely high
There is a low $5 minimum deposit requirement to start trading with XM on the Micro, Standard, and Shares Accounts	Negative balance protection will not stop traders from losing money invested with XM

 

 

What types of accounts does XM offer?

XM has several account types, including Micro, Standard, Ultra Low, and Shares accounts, each with its requirements.

 

What is the minimum deposit for an XM Standard account?

The minimum deposit for an XM Standard account is usually $5.

 

 

XM Base Account Currencies and Basic Order Types

 

XM Base Account Currencies 

 

The base account currencies available to Emiratis include the following:

 

• ✅USD
• ✅EUR
• ✅GBP
• ✅JPY
• ✅CHF
• ✅AUD
• ✅HUF
• ✅PLN
• ✅RUB
• ✅SGD
• ✅ZAR

 

 

XM Basic Order Types

 

• ✅Market Order – A market order can be either a buy or a sell order that executes at the current market price. This is the current price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
• ✅Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at the market to enter the trade immediately.
• ✅Stop Order – A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
• ✅This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.

 

 

Alternatively, if you believe the price will reverse when it reaches a certain price, you can place a limit order. Limit orders can be either buy or sell limits, depending on the market’s direction before your anticipated reversal. A sell limit is used to sell above the market, while a buy limit is used to purchase below the market.

 

 

How to Open and Close an XM Account

 

How to open an XM Account

 

To open an account with XM, Emiratis can follow these steps:

 

• ✅Navigate to the account registration page for XM.
• ✅Fill in your personal information, such as your name, home country, email address, and phone number.
• ✅Choose a trading platform (MT4 or MT5) and an account type.
• ✅Fill in your personal information, such as your birth date and address.
• ✅Choose the base currency and the amount of leverage.
• ✅Answer questions about your financial knowledge and provide your financial information.
• ✅Upload a copy of your national ID, passport, or driver’s license to verify your identity, while utility bills and bank statements are acceptable as proof of residency.

 

 

Finally, click the “Open a real account” button to finish the registration process.

 

 

Can I open a joint account with XM?

No, XM does not currently allow for the creation of joint accounts.

 

How do I activate my XM account?

You will receive an email with instructions on activating your account once verified.

 

 

How to Close an XM Account

 

To close a live trading account with XM, Emirati traders can follow these steps:

 

• ✅Log in to the XM website’s client portal.
• ✅Navigate to the “Account Closure” section.

 

 

Finally, to close the account, follow the instructions.

 

 

What happens to my account balance when I close my XM account?

Any remaining balance in your account will be returned to you using the available withdrawal methods.

 

Can I close an XM account if it has a negative balance?

No, accounts with negative balances must be settled before closing.

 

 

 

Social Trading with XM

 

XM provides its clients with social and copy trading services, allowing them to follow and copy the trades of more experienced traders. Here’s a rundown of XM’s social and copy trading:

 

• ✅XM’s social trading platform allows traders to connect, learn, and compete with one another. The social area includes advanced trading features such as copy trading, competition, and community. Traders can interact and follow other traders, share trading ideas, and learn from successful traders.
• ✅With XM’s copy trading service, traders can replicate the trades of over 1,000 signal providers. The service is available on the MT4 and MT5 platforms, and traders can select from various trading instruments. MQL5, one of the world’s largest social and copy trading platforms, provides XM’s copy trading service.
• ✅XM’s Mirror Trader platform allows investors to instantly benefit from professional traders’ buy and sell signals by mirroring them to their trading accounts. The platform is built around social trading and is suitable for demos and real accounts. Clients can use various features, including improved strategy performance, risk management, and many trading tools.

 

 

Can I share my trading strategies on XM?

No, XM has no platform feature for sharing trading strategies with other users.

 

Is social trading considered riskier than individual trading?

No, the risk level in social trading varies depending on the strategies of the traders you choose to follow.

 

 

 

XM Trading Platforms

 

XM offers Emirati traders a choice between these trading platforms:

 

• ✅MetaTrader 4
• ✅MetaTrader 5
• ✅XM Mobile App

 

XM MetaTrader 4

 

One of the less-discussed features of XM’s MetaTrader 4 is the “Multiterminal” option. This is especially useful for traders or portfolio managers who manage multiple trading accounts simultaneously.

It streamlines the trading process by allowing for the efficient management of multiple accounts without the need to log in and out.

Another feature is “VPS Hosting,” which ensures that automated trading strategies can run 24 hours a day, seven days a week, without requiring the trader’s computer to be turned on. This is great news for traders who rely heavily on automated trading systems and want to keep downtime to a minimum.

 

 

XM MetaTrader 5

 

The “Hedging Option” is a standout feature on XM’s MetaTrader 5 platform. Unlike standard MT5 platforms, XM’s version allows traders to open opposing positions on the same asset, allowing for risk-management strategies that are not commonly available on other MT5 platforms.

Furthermore, MT5 on XM supports “Partial Order Filling,” allowing traders to execute large orders in parts if the full volume is unavailable at the best market price. This is especially useful for high-volume traders who want to minimize slippage.

 

 

XM Mobile App

 

Unlike the desktop platforms, The XM Mobile App is a powerful trading tool with unique features. It boasts advanced charting tools and risk management options typically reserved for larger devices.

As a bonus, traders can receive important account notifications through push alerts so they are not bound to their desks when seeking information.

 

 

Pros and Cons of XM Trading Platforms

 

✅Pros	❎Cons
XM offers a feature-rich Android and iOS mobile app with several tools	XM does not support other popular third-party apps like TradingView, cTrader, etc.

 

 

Is there a web-based version of XM’s trading platforms?

Although XM does not provide a proprietary web-based platform, MetaTrader 4 and 5 can be accessed through web browsers.

 

Can I use the same account across different XM platforms?

Yes, you can trade on both the MetaTrader 4 and MetaTrader 5 platforms with the same XM account.

 

 

 

Which Markets Can You Trade with XM?

 

Emirati traders can expect the following range of markets from XM:

 

• ✅Forex
• ✅Cryptocurrencies
• ✅Stock CFDs
• ✅Commodities
• ✅Equity Indices
• ✅Precious Metals
• ✅Energies
• ✅Individual Shares
• ✅Turbo Stocks

 

Financial Instruments and Leverage offered by XM

 

🔑Instrument	🅰️Number of Assets Offered	🅱️Max Leverage Offered
📈Forex	55	1:1000
💎Precious Metals	5	1:400
📉Stock CFDs	1,337	1:10
💹Indices	20	1:200
🗂️Individual Shares	100	1:10
🪙Cryptocurrency	31	1:250
💡Energies	8	1:67
🍎Commodities	8	1:50
🚀Turbo Stocks	7	1:200

 

Broker Comparison for a Range of Markets

 

🔑Broker	🥇XM	🥈Capital.com	🥉BDSwiss
📈Forex	✅Yes	✅Yes	✅Yes
💎Precious Metals	✅Yes	✅Yes	✅Yes
📉ETFs	None	None	None
💹CFDs	✅Yes	✅Yes	✅Yes
📊Indices	✅Yes	✅Yes	✅Yes
🗂️Stocks	✅Yes	✅Yes	✅Yes
🪙Cryptocurrency	✅Yes	✅Yes	✅Yes
🔃Options	None	None	None
💡Energies	✅Yes	✅Yes	✅Yes
📝Bonds	None	None	None

 

Pros and Cons of XM Range of Markets

 

✅Pros	❎Cons
XM offers thousands of instruments that can be traded using tailormade account types	Even though there is negative balance protection offered, traders can still lose their entire investment because of leverage and other risks

 

 

Does XM offer options trading?

No, XM does not offer options trading.

 

Do you know if I can trade cryptocurrencies with XM?

Yes, XM offers cryptocurrency trading, including popular options such as Bitcoin and Ethereum.

 

 

 

XM Fees, Spreads, and Commissions

 

XM Spreads

 

Depending on the account type, XM charges both fixed and variable spreads. These spreads are competitive, particularly for major currency pairs, making it affordable for frequent traders. Here are some of the typical spreads that XM charges:

 

🔑Instrument	🥇Standard	🥈Micro	🥉Ultra-Low
💶EUR/USD	1.6 pips	1.6 pips	0.7 pips
🍃Cotton	0.0030 pips	0.0030 pips	0.0030 pips
💵US100 Cash	N/A	1.10 pips	N/A
💷XAU/EUR	3.5 pips	3.5 pips	1.5 pips
💴NGAS Cash	N/A	0.005 pips	N/A
🪙BTC/USD	35.5 pips	35.5 pips	26.5 pips
🚀Apple Turbo Stock	N/A	0.1 pips	N/A
🍎Apple Stock CFD	N/A	0.4 pips	N/A

 

XM Commissions

 

In terms of commissions, XM does not generally charge commissions on forex and CFD trading for Micro and Standard accounts. The XM Ultra-Low and Shares accounts, on the other hand, have a commission fee that is clearly stated in the account terms.

 

XM Overnight Fees

 

When a position is held overnight, XM Overnight Fees, also known as swap fees, are charged. These fees vary according to the instrument and the position (long or short), and they are clearly stated on the XM website.

Some of the typical overnight fees that Emirati traders can expect with XM are as follows:

 

🔑Instrument	↪️Long Swap (Buy)	➡️Short Swap (Sell)
💴EUR/USD	-8.48 pips	1.52 pips
💵US100 Cash	-3.29 pips	0.63 pips
💶XAU/EUR	-21.46 pips	15.81 pips
💷NGAS Cash	-0.6 pips	-2.37 pips

 

XM Deposit and Withdrawal Fees

 

XM stands out by providing free deposits and withdrawals for most payment methods. However, some third-party fees may apply depending on the financial institution facilitating the transaction.

 

XM Inactivity Fees

 

Inactivity on XM Accounts that have been dormant for a specified period, usually more than 12 months, is subject to fees. This fee is fixed and is deducted from the inactive account’s remaining balance.

If a live trading account becomes inactive after 12 months, a $15 maintenance fee is assessed, followed by a $5 monthly inactivity fee.

 

XM Currency Conversion Fees

 

Currency conversion fees apply when trading in a currency other than your account’s base currency. XM charges a small fee for this service, which is calculated and applied automatically to the trade.

 

Pros and Cons of XM Trading and Non-Trading Fees

 

✅Pros	❎Cons
XM charges zero-pip spreads on certain account types	The mark-up on spreads for the Micro and Standard accounts are very high compared to brokers with similar account types
Most financial instruments and account types are commission-free	XM charges inactivity fees
XM does not have hidden fees, and all are indicated in the client/customer agreement	AED deposits and withdrawals could be subject to currency conversion fees

 

 

Are there any inactivity fees for XM?

Yes, after one year of inactivity, there is a $15 one-time maintenance fee.

 

What is the minimum spread charged by XM?

Depending on the account type, XM charges spreads as low as 0 pip.

 

 

 

XM Deposits and Withdrawals

 

XM offers Emirati traders the following deposit and withdrawal methods:

 

• ✅Credit Card
• ✅Debit Card
• ✅Bank Wire Transfer
• ✅Local Bank Transfer
• ✅Skrill
• ✅Neteller
• ✅WebMoney

 

How to make a Deposit with XM

 

To deposit funds to an account with XM, Emirati traders can follow these steps:

 

• ✅Go to the XM Members Area on the website or app to access your account.
• ✅Look for the deposit section in the account dashboard or financial management section.
• ✅Choose your preferred deposit method from a menu that includes credit/debit cards, electronic wallets, and bank transfers.
• ✅Enter the deposit amount and, if applicable, the currency.
• ✅Fill in the required payment information, such as credit card or e-wallet credentials.
• ✅Examine the details and make the deposit. A confirmation email or notification may be sent.

 

 

Lastly, check the account balance to make sure the deposit is properly credited.

 

 

How long do XM Deposits take?

Credit/Debit Card deposits are typically instant but can take a few hours, whereas Electronic Wallet deposits are instant but can take a few days, and Bank Transfers take a few days.

 

What are the available deposit methods for XM?

XM accepts major credit cards, electronic payment providers, and bank wire transfers for deposits.

 

Are there any fees for depositing with XM?

No, there are no fees associated with depositing with XM.

 

 

 

How to Withdraw from XM

 

To withdraw funds from an account with XM, Emirati traders can follow these steps:

 

• ✅Access your account by logging into the XM Members Area.
• ✅Locate the withdrawal section on the account dashboard or within the financial management section.
• ✅Select your preferred withdrawal method, which is frequently the same as the method you used to make your deposit.
• ✅Enter the withdrawal amount.
• ✅Complete any required information or paperwork, such as identity verification.
• ✅Examine the particulars and validate the withdrawal. There may be a confirmation email or notification sent.

 

 

Finally, verify the withdrawal status and account balance to ensure the transaction was successful.

 

 

How long do XM Withdrawals take?

Withdrawals using credit/debit cards and bank wire transfers can take up to five days, whereas withdrawals using electronic wallets are typically completed within twenty-four hours.

 

Is there a minimum withdrawal amount?

No, there is no publicly disclosed minimum withdrawal amount for XM accounts.

 

Can I cancel a withdrawal request with XM?

Yes, as long as the withdrawal request has not been processed, you can cancel it.

 

 

 

XM Deposit Currencies, Deposit and Withdrawal Processing Times

 

🔑Payment Method	💵Deposit Currencies	📝Deposit Processing	🗂️Withdrawal Processing
💴Credit Card	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR	Instant	2 to 5 working days
💳Debit Card	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR	Instant	2 to 5 working days
🏦Bank Wire Transfer	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR	1 working day	3 to 5 working days
📍Local Bank Transfer	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR	1 working day	3 to 5 working days
⏩Skrill	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR	Instant	1 working day
💷Neteller	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR	Instant	1 working day
🖥️WebMoney	USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR	Instant	1 working day

 

Broker Comparison: Deposit and Withdrawals

 

🔑Broker	🥇XM	🥈Capital.com	🥉BDSwiss
⏰Minimum Withdrawal Time	1 working day	Instant	10 Minutes
⏱️Maximum Estimated Withdrawal Time	5 working days	Up to 3 Days	Between 7 to 10 days
💳Instant Deposits and Instant Withdrawals	✅Yes, deposits	✅Yes	None

 

Pros and Cons XM Deposits and Withdrawals

 

✅Pros	❎Cons
XM does not charge any fees on deposits or withdrawals	XM does not have any instant withdrawals
There are multi-currency payment methods offered	AED deposits and withdrawals are not supported

 

 

Are there any deposit bonuses with XM?

Yes, XM provides a $30 credit and a 50% deposit bonus for new accounts.

 

What is the minimum deposit amount for XM?

The minimum deposit amount varies by account type, with a Standard account starting at $5.

 

 

 

XM Education and Research

 

Education

 

XM offers the following Educational Materials to Emirati traders:

 

• ✅XM Live
• ✅Live Education
• ✅Live Education Schedule
• ✅Educational Videos
• ✅Forex Webinars
• ✅Platform Tutorials
• ✅Forex Seminars

 

 

and more!

 

XM also offers Emirati traders the following additional Research and Trading Tools:

 

• ✅Trading Tools
• ✅MQL5
• ✅Forex Calculators
• ✅ Market Overview
• ✅News Feed
• ✅XM Research
• ✅Trade-Ideas
• ✅Technical Summaries

 

 

and much more!

 

Research and Trading Tool Comparison

 

🔑Broker	🥇XM	🥈Capital.com	🥉BDSwiss
🗂️Economic Calendar	✅Yes	✅Yes	✅Yes
🔒VPS	✅Yes	None	✅Yes
💹AutoChartist	None	None	✅Yes
👁️Trading View	None	✅Yes	None
📍Trading Central	✅Yes	None	✅Yes
📈Market Analysis	✅Yes	✅Yes	✅Yes
🗞️News Feed	✅Yes	✅Yes	✅Yes
💻Blog	✅Yes	✅Yes	✅Yes

 

Pros and Cons of XM Education and Research

 

✅Pros	❎Cons
XM is an ideal broker for beginners, considering its range of educational materials and tools	XM does not currently support third-party tools or platforms like AutoChartist

 

 

Does XM offer webinars?

Yes, XM offers live interactive training sessions, including webinars led by Forex tutors.

 

Can I access educational materials on mobile?

Yes, you could. While it is not explicitly stated, most of XM’s educational content is likely accessible via mobile devices.

 

 

 

XM Customer Support

 

🔑Customer Support	🥇XM Customer Support
⏰Operating Hours	24/7
🌎Support Languages	English, Chinese, Russian, French, Italian, Spanish, Portuguese, Polish, Arabic, and more
🔊Live Chat	✅Yes
💻Email Address	✅Yes
☎️Telephonic Support	✅Yes
💯The overall quality of XM Support	5/5

 

Pros and Cons of XM Customer Support

 

✅Pros	❎Cons
XM offers customer support 24 hours a day, every day of the week	Regional and language restrictions could apply to some countries

 

 

What are the primary channels for contacting XM customer support?

XM offers customer service via live chat, email, and phone.

 

How quickly can I expect a response from customer support?

XM is known for its quick customer service, though no specific response times are given.

 

 

 

XM VPS Review

 

The XM VPS enhances Emirati traders’ trading capabilities and streamlines execution.

Traders with a minimum account balance of $500 or equivalent in other currencies can now request a free VPS from the Members Area if they trade at least two standard round turn lots or 200 micro round turn lots per month.

It is important to note that additional trading accounts associated with the same email address are considered when determining eligibility for a free VPS.

Those who do not meet these requirements can still access the XM VPS through the Members Area by paying a monthly fee of $28, which will be automatically deducted from their MT4/MT5 accounts on the first day of each calendar month.

 

 

What are the benefits of using XM VPS?

Using XM VPS can give traders a more dependable and faster trading experience.

 

Is customer support available for VPS-related issues?

Yes, Emirati traders can expect customer support for any VPS-related issues.

 

 

 

XM Cashback Rebates Features and Conditions

 

By extending its Forex cashback rebate initiative to introduce brokers, XM’s Cashback Rebates program presents a lucrative opportunity, particularly for Emirati traders.

The program offers up to $25 per lot on Forex trades for clients who open specific types of accounts, such as Micro, Standard, Share, or XM Ultra-Low Accounts.

The XM Partners program, which introduces several features designed to provide a seamless trading experience, complements the initiative.

One of the most notable features is the availability of personal account managers fluent in more than 30 languages, ensuring tailored and efficient support for a global clientele.

Furthermore, XM’s commitment to unlimited earning potential is clear, making the program accessible to traders worldwide. In addition, the program includes a 10% commission on second-tier referrals, providing partners with an additional revenue stream.

Overall, XM’s Cashback Rebates program is intended to increase profit potential while also demonstrating the company’s commitment to assisting the financial success of both Emirati traders and global clients.

 

 

Are the cashback rebates available for all account types?

Yes, cashback rebates are available for accounts with the Micro, Standard, Share, or XM Ultra-Low Tiers.

 

How do I sign up for XM cashback rebates?

To sign up for XM cashback rebates, you must have an XM trading account and opt-in to the program via the XM website’s Members Area.

 

 

 

XM Web Traffic Report

 

🌎Global Rank	5,032
🌐Country Rank	302
📊Category Rank	7
📌Total Visits	14.5 million
📈Bounce Rate	60.06%
📖Pages per Visit	2.54
⌚Average Duration of Visit	00:02:31
📍Total Visits in the last three months	June – 11.3 million July – 12.1 million August – 14.5 million

 

 

XM Geographic Reach and Limitations

 

XM’s Current Expansion Focus

 

XM has one of the world’s largest customer bases, focusing on Africa, Asia, Europe, and Australia.

 

Countries not accepted by XM

 

XM does not offer services to the following countries:

 

• ✅The Islamic Republic of Iran
• ✅The United States
• ✅Canada
• ✅Israel

 

Popularity among Emirati traders who choose XM

 

XM is a large and reputable forex and CFD broker that ranks in the Top 15 in Dubai.

 

 

Are there any countries where XM is restricted?

Yes, due to regulatory restrictions, XM does not provide its services in countries such as the United States.

 

Is XM regulated in multiple jurisdictions?

Yes, XM is regulated by several top-tier financial authorities, which increases its global reach and credibility.

 

 

 

Best Countries by Traders

 

🌎Country	📈Market Share
🥇Thailand	23.9%
🥈Philippines	13.87%
🥉Singapore	8.4%
🏅Colombia	5.21%
🎖️Republic of Korea	3.66%

 

 

XM vs Capital.com vs BDSwiss – A Comparison

 

🔑Broker	🥇XM	🥈Capital.com	🥉BDSwiss
🚨Regulation	FSCA, IFSC, ASIC, CySEC, DFSA, FCA	FCA, ASIC, CySEC, NBRB, FSA	CySEC, FSC, BaFIN, FSA
📈Trading Platform	MetaTrader 4 MetaTrader 5 XM Mobile App	Capital.com MetaTrader 4 TradingView	MetaTrader 4 MetaTrader 5 BDSwiss Mobile BDSwiss Web
💴Withdrawal Fee	None	None	✅Yes, <100 EUR withdrawals
🆓Demo Account	✅Yes	✅Yes	✅Yes
💳Min Deposit	18 AED	74 AED	367 AED
💹Leverage	1:1000	NBRB – 1:100 FCA – 1:30 ASIC/CySEC – 1:30	Up to 1:1000
📊Spread	0.7 pips	Variable, from 0.6 pips	From 0.3 pips
💰Commissions	$1 to $9	None	$2 to $5
⛔Margin Call/Stop-Out	50%/20%, 100%/50% (EU)	100%/50%	50%/20%
🖋️Order Execution	Market, Instant	Market	Instant/Market
💵No-Deposit Bonus	None	None	None
🪙Cent Accounts	None	None	In Progress
📉Account Types	Micro Account Standard Account XM Ultra-Low Account Shares Account	Live Account (Retail or Professional)	Classic Account Premium Account VIP Account RAW Account
🚩DFSA Regulation	None	None	None
💶AED Deposits	None	✅Yes	None
📌AED Account	None	None	None
⏰Customer Service Hours	24/7	24/7	24/5
🗂️Retail Investor Accounts	4	1	4
☪️Islamic Account	✅Yes	None	✅Yes
⬇️Minimum Trade Size	0.01 lots	0.01 lots	0.01 lots
⬆️Maximum Trade Size	100 lots	Depends on the account balance	50 lots
⏱️Minimum Withdrawal Time	1 working day	Instant	10 Minutes
⌚Maximum Estimated Withdrawal Time	5 working days	Up to 3 Days	Between 7 to 10 days
💳Instant Deposits and Instant Withdrawals	✅Yes, deposits	✅Yes	None

 

 

XM Alternatives

 

• 🥇XTB is renowned for its user-friendly interface and a wide range of asset classes, including forex, commodities, and indices. The platform also provides a unique “Trader’s Talk” feature, which serves as a live news feed directly within the trading interface. XTB offers competitive spreads and is regulated by several financial authorities, adding an extra layer of security for traders.

 

 

• 🥈Exness is particularly noted for its flexible leverage options and instant order execution, making it a strong choice for traders who prioritize quick and efficient trading. Exness is also known for its transparency, providing detailed reports and real-time performance metrics.

 

 

• 🥉IC Markets stands out for its deep liquidity and low spreads, making it an attractive option for high-volume traders. One of its most noteworthy features is the cTrader platform, which offers Level II pricing and advanced order protection for more experienced traders. Furthermore, IC Markets offers a variety of educational resources and customer support services, enhancing the overall trading experience.

 

 

XM Awards and Recognition

 

XM received the following recent awards and recognition:

 

• ✅Best FX Customer Service in 2023, awarded by the World Finance Forex Awards.
• ✅Best FX Broker in Europe, awarded by the World Finance Forex Awards in 2023.
• ✅Best FX Broker in Australasia in 2023, awarded by the World Finance Forex Awards.
• ✅Best FX Broker in Latin America in 2023, awarded by the World Finance Forex Awards.
• ✅Best FX Broker in the Middle East in 2023, awarded by the World Finance Forex Awards.
• ✅Best Customer Support Globally for 2023, awarded by CFI.co (Capital Finance International Magazine).
• ✅Best CFD Provider in 2023, awarded by the City of London Wealth Management Awards.

 

 

and many more!

 

 

Our Experience with XM

 

XM has provided us with an excellent service. They provide favorable trading conditions and accommodating schedules because they are a regulated broker.

Traders of all skill levels can make use of the streamlined transaction execution provided by the state-of-the-art MetaTrader 4 and MetaTrader 5 platforms, which are bolstered by a wealth of available educational materials.

Our excellent cooperation with them is complemented by their excellent customer support service, which can be reached through several different channels.

In conclusion, working with XM brokers is very rewarding because of the reliable quality of their services.

 

XM Trading Platform

 

MetaTrader 4 (MT4), MetaTrader 5 (MT5), and the XM app are just a few of the cutting-edge trading platforms available to traders through XM. Fast execution is made possible by these cutting-edge trading tools’ flexible, user-friendly interfaces.

While these advantages show the terminal’s worth in meeting traders’ requirements, additional progress could be made by developing web-based and desktop-based versions.

Also impressive is the availability of risk-free demo accounts, which allow users to practice with virtual money before committing any real cash. Overall, XM is superior to competing investment platforms in efficiency, functionality, and adaptability and is worth investigating.

 

Quality of Customer Service

 

XM’s support staff is second to none. Thanks to the website’s live chat feature, help is readily available in a timely fashion. Our research revealed that customer questions are addressed quickly, demonstrating a commitment to meeting their requirements.

The agents are not only friendly but also have a wealth of knowledge that allows them to guide customers in the right direction and provide accurate data.

Furthermore, XM’s reputation as one that places a premium on its clients’ happiness is bolstered when its customer service department performs at such a high level.

 

XM Response Time

 

🔑Support Channel	⏰Average Response Time	⏱️User-based Response Time
☎️Phone	N/A	N/A
💻Email	1 working day	Same-day
🔊Live Chat	5 minutes	2 minutes
📱Social Media	1 working day	10 minutes
👥Affiliate	1 working day	Same-day

 

 

Recommendations according to our in-depth review of XM

 

• ✅Some traders have reported difficulties logging into MT4 and server connection issues. Improving the technical robustness of trading platforms would result in a more seamless trading experience.
• ✅While XM is known for its excellent customer service, there have been instances where customers have had difficulty resolving issues. Improving customer service efficiency and responsiveness can help to boost trust.
• ✅Some customers have complained about delays in receiving funds into their accounts. Making the deposit and withdrawal processes more seamless and transparent could improve customer satisfaction.
• ✅Some customers have expressed dissatisfaction with specific terms and conditions, particularly those about bonuses and promotions. By communicating these terms more clearly, misinterpretations can be avoided.
• ✅The withdrawal verification process is one area that could be improved. Due to additional information requests, some users found the process time-consuming. The overall customer experience could be improved by streamlining the process while maintaining security standards.

 

 

Lastly, although XM is a regulated broker with a global presence, the company’s reputation has suffered due to some negative reviews. Broker confidence can be boosted by ongoing efforts to address customer concerns and improve transparency.

 

 

XM Customer Reviews

 

 

🥇 Inspiring!

XM is an inspiring company that meets customer needs and expectations on time. They provide a one-of-a-kind educational experience across a variety of platforms. – Yasmin Jassim 

 

 

🥈 Exceptional experience.

Words cannot adequately express my exceptional experience with XM, particularly in their diverse financial instruments. As an investor, my primary focus is on cryptocurrencies, and XM consistently provides unparalleled 24/7 support in this domain. – Sultan Dahmani

 

 

🥉 High-quality service.

I’ve been with XM for over five years and have consistently found their service high quality. Daily, they offer a variety of seminars and occasionally host gala dinners. I’ve never had any problems with fund withdrawals. – Laila Rais 

 

 

 

Pros and Cons of Trading with XM

 

✅Pros	❎Cons
XM has leverage of up to 1:1000 on major forex pairs	High leverage can still result in a significant loss of capital

 

 

In Conclusion

 

Our findings show that XM stands out as a top broker, providing a well-rounded and satisfying trading experience.

Its trading platforms, which include MetaTrader 4, MetaTrader 5, and the proprietary XM app, are well-equipped with powerful tools and provide quick trade execution to accommodate a variety of trading strategies.

In addition, XM’s trading conditions are competitive, and fee schedule clarity and excellent customer service improve the user experience.

Furthermore, according to our experience and research, what distinguishes XM from many of its competitors is its unwavering commitment to educational advancement and continuous improvement.

The abundance of educational materials and transparent leverage and spread options make it an appealing platform for novice and experienced traders.

The broker’s strict security protocols and adherence to regulatory standards add to its credibility, providing a safe trading environment.

Although there is room for expansion, such as the potential introduction of a dedicated desktop or web-based platform, these areas are minor compared to the overall excellence and efficiency of the services provided by XM.

 

 

Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.  Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements. Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.

 

 

Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all Emirati investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.

 

 

Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.

 

 

Frequently Asked Questions

 

Does XM offer a demo account?

Yes, XM provides a demo account that allows traders to practice virtual currency in a real trading environment.

 

Does XM offer Islamic accounts?

Yes, XM provides Islamic accounts to Muslim traders.

 

How long does it take to withdraw from XM?

Withdrawals usually require a minimum of 1 business day and can take up to 5 working days.

 

What trading platforms does XM offer?

XM provides both the MT4 and MT5 trading platforms.

 

Does XM have Nasdaq 100?

Yes, it is. However, it is offered as a cash index under US100 with spreads starting from 1.10 pips by XM.

 

What is XM’s social and copy trading service?

XM’s social and copy trading service allows traders to follow and copy more experienced traders’ trades.

 

Does XM have VIX 75?

No, VIX 75 is not available, but alternative indices offered by XM can be traded.

 

What bonuses and promotions does XM offer?

Deposit bonuses, a $30 bonus, the XM Gala Event, the Trade and Win initiative, and the Referral Program and Loyalty Bonus are all available through XM.

 

What is XM’s affiliate program?

It is a program where individuals and businesses can earn commissions by referring new clients to XM’s affiliate program.

 

Is XM Safe or a Scam?

Emiratis can rely on the credibility and security of XM as their broker, which holds an impressive trust score of 90%.

 

Is XM regulated?

Yes, ASIC, IFSC, CySEC, FSC, DFSA, and FSCA regulate the operations of XM.