XM Review Of 2025

Trading Fees

XM’s offers four account types differentiated by lot sizes and pricing: the Micro Account is for trading in micro-lots with no commission, while the Standard Account caters to standard lots with spread-only costs.

1. Raw Account Spreads

If you are in Europe or the UK you will have the option of a Zero Account where you can access spreads as low as 0.1 pips + commission.

In our analysis, XM’s Zero Account showed competitive spreads for key pairs. The average spread for EUR/GBP was 0.30 pips, and for USD/JPY, it was 0.10 pips.

These ECN spreads are among the industry’s best, matching or surpassing top brokers like FP Markets and Pepperstone.

Commission Account Spreads	EUR/USDAUD/USDEUR/GBPUSD/JPYUSD/CADAUD/JPYEUR/JPYGBP/USDUSD/SGD	EUR/USDAUD/USDEUR/GBPUSD/JPYUSD/CADAUD/JPYEUR/JPYGBP/USDUSD/SGD	EUR/USDAUD/USDEUR/GBPUSD/JPYUSD/CADAUD/JPYEUR/JPYGBP/USDUSD/SGD	EUR/USDAUD/USDEUR/GBPUSD/JPYUSD/CADAUD/JPYEUR/JPYGBP/USDUSD/SGD	EUR/USDAUD/USDEUR/GBPUSD/JPYUSD/CADAUD/JPYEUR/JPYGBP/USDUSD/SGD
	0.10	0.90	0.70	0.10	1.30
	0.10	0.20	0.20	0.30	0.40
	0.10	0.20	0.30	0.20	0.30
	0.20	0.20	0.40	0.20	0.30
	0.44	0.42	0.40	0.20	0.83
	0.17	0.30	0.54	0.24	N/A
	0.10	0.50	0.60	0.30	1.10
	n/a	0.50	0.60	n/a	0.30
	0.50	0.70	0.60	0.50	0.80

Avg. spreads are taken from each broker's website and updated monthly. Last update on 04/01/2025

We compared the 38 brokers across the 9 most traded currency pairs and found XM has more expensive average spreads for 5 of them. The overall average was also the highest of all the brokers we compared primarily due to USD/SGD rate which I verified twice as it was so high.

Overall, while for some currency pairs XM has low RAW account spreads they are overall expensive compared to brokers like Pepperstone, Eightcap and IC Markets. That said, the commission rate of this account type also has a significant impact on trading costs hence we explore this next.

2. Raw Account Commission Rate

XM Zero Account holders pay a commission fee of $3.50 per standard lot, per $100,000 traded ($7 round-turn). While this commission fee is competitive for USD base accounts, there aren’t options for AUD, EUR or GBP accounts. This can lead to conversion costs and generally, local currency accounts (eg AUD) have lower commission rates.

3. Standard Account Fees

The XM Micro and Standard Accounts are commission-free account types with spreads starting from 1 pip.

Our analysis of over 40 leading brokers’ average monthly spreads revealed that while XM’s no commission spreads are competitive, there are other brokers offering tighter spreads.

Specifically, for the EUR/USD and AUD/USD pairs, XM’s average spread is 1.60 pips.

4. Swap-Free Account Fees

XM Islamic accounts stand out remarkably from most other forex brokers’ standard offerings. The key difference is that, unlike most forex companies that charge additional fees by widening the spread on Islamic accounts, XM does not impose any extra charges.

5. Other Fees

There are no additional charges when you make a deposit or withdrawal. However, there is an inactivity fee of $10 after 90 days.

Verdict on XM Spreads

XM average spreads were at the higher end and the brokers commission rate was mid-tier compared to other brokers. This will result in higher trading costs compared to most other brokers we compared.

Trading Platforms

XM offers traders the choice between MetaTrader 4 (MT4) and MetaTrader 5 (MT5), each catering to different trading needs.

The CompareForexBrokers team created a trading platform selector so you can work out what trading software best matches your trading needs. I recommend you complete the short 5 step questionnaire which will help you determine your most suitable forex platform.

• MT4 is predominantly a forex trading platform, ideal for those focusing solely on currency markets.
• MT5 is a more versatile multi-asset platform, supporting not only forex but also stocks, stock indices, and precious metals trading.

Alongside a broader range of CFD products, MT5 also brings enhancements in trading and analysis tools compared to its predecessor, MT4.

MetaTrader 4

MetaTrader 4 on XM is tailored for forex traders looking to develop and execute automated trading strategies.

Traders can use Expert Advisors (EAs) for market scanning and automated trade execution, with the ability to create EAs using MQL4 or download them from the MetaTrader Marketplace.

MT4 also supports backtesting of strategies, though it’s limited to single currency analysis.

MT4 Features:

• Four order types for risk management: sell limit, sell stop, buy stop, buy limit.
• 30 built-in technical indicators for market analysis.
• 41 graphical objects and 9 timeframes to identify market trends.

MetaTrader 5

MetaTrader 5 (MT5) expands on the capabilities of its predecessor, MT4, offering a comprehensive multi-asset trading platform. It’s suitable for traders looking to engage in forex as well as other markets like stocks, stock indices, and precious metals.

Key Enhancements in MT5:

• Uses MQL5, which is more efficient and easier to learn than MQL4.
• Enhanced back testing capabilities with multi-currency, multi-thread options.
• A wider array of technical analysis tools with 38 indicators, 44 objects, and 21 timeframes.
• Expanded risk management tools with additional order types.
• Fundamental analysis tools with  an inbuilt economic calendar for comprehensive market analysis.

Mobile Trading Apps

XM’s mobile trading apps, available for both MetaTrader 4 and MetaTrader 5, offer full functionality, mirroring the capabilities of the desktop and WebTrader platforms.

These apps, compatible with a variety of devices including iPhones, iPads, and Android phones and tablets, ensure that mobile users have unrestricted access to all market types and order options.

This design provides a seamless and consistent trading experience across different devices, allowing traders to manage their activities efficiently while on the move.

Trade Experience

XM’s trading experience is defined by its commitment to reliability and efficiency. Key aspects include:

• No Requotes: XM guarantees no requotes for orders under 50 standard lots, ensuring prices are consistent from the quote to the execution time. This is a significant advantage, especially during volatile market conditions.
• Fast Execution: XM boasts a high execution rate, with 99.35% of orders executed in under one second, facilitating swift and effective trading.
• Guaranteed Fills: Orders up to 50 standard lots are guaranteed to be filled, reducing the risk of partial fills or rejections. For orders exceeding this limit, XM may use partial fills.
• Order Flexibility: Traders can place orders online or, in case of emergencies, via phone, offering added flexibility.
• Market Maker Advantages: As a market maker, XM provides its own liquidity, which allows for more accurate pricing and reduced slippage. This setup ensures that XM can offer the best available price and execute orders rapidly.

Is XM Safe?

Regarding safety, XM holds a trust score of 67, which reflects its top-tier regulation, established reputation, and customer reviews.

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Regulation

XM accepts clients from all over the world and is overseen by multiple top-tier regulators including the Australian Securities Investments Commission (ASIC), the UK’s Financial Conduct Authority (FCA), and the Cyprus Securities and Exchange Commission (CySEC).

Reputation

XM was established in 2009 in Belize City, Central America. The online broker has no regulatory issues on record during its 15 years of business.

Reviews

On TrustPilot, XM has an average score of 3.3 out of 5 from 531 reviews. This score suggests that there may be some issues with client satisfaction, offering a varied perspective on the broker’s service quality and customer experience.

How Popular Is XM?

There are 723,000 monthly searches for XM each month on Google, making it the 4th most popular Forex Broker. Similarweb in February 2024 shows a similar story with the broker the 4th most visited, receiving 15,630,000 global visits.

Country	2024 Monthly Searches
United States	74,000
Thailand	74,000
Japan	74,000
India	60,500
South Africa	33,100
Indonesia	27,100
Malaysia	27,100
Egypt	22,200
Brazil	18,100
Vietnam	18,100
Colombia	18,100
Morocco	18,100
France	14,800
Germany	14,800
Mexico	14,800
Philippines	12,100
Pakistan	12,100
Uzbekistan	12,100
Italy	9,900
Turkey	9,900
United Kingdom	8,100
Algeria	8,100
Cambodia	6,600
Spain	5,400
Peru	5,400
Canada	5,400
Taiwan	5,400
Bangladesh	5,400
Kenya	5,400
Netherlands	4,400
Saudi Arabia	4,400
Ecuador	4,400
Nigeria	4,400
Singapore	4,400
Sri Lanka	4,400
Poland	3,600
United Arab Emirates	3,600
Chile	2,900
Jordan	2,900
Australia	2,900
Venezuela	2,900
Greece	2,900
Argentina	2,400
Switzerland	2,400
Dominican Republic	2,400
Portugal	1,900
Austria	1,900
Cyprus	1,900
Ghana	1,900
Botswana	1,900
Bolivia	1,600
Mongolia	1,600
Sweden	1,300
Hong Kong	1,300
Ethiopia	1,300
Uganda	1,000
Costa Rica	880
Tanzania	880
Ireland	590
Panama	590
New Zealand	480
Mauritius	260

2024 Average Monthly Branded Searches By Country

United States	74,000 1st
Thailand	74,000 2nd
Japan	74,000 3rd
India	60,500 4th
South Africa	33,100 5th
Indonesia	27,100 6th
Malaysia	27,100 7th
Egypt	22,200 8th
Brazil	18,100 9th
Vietnam	18,100 10th

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Deposit and Withdrawal

To start trading with XM, an initial minimum deposit of $5 is required for Micro and Standard accounts, $50 for Ultra-Low accounts, and $50 for Zero Accounts.

When funding an established trading account, no minimum deposit is required, although certain e-wallet payment methods require a minimum of $5.

Account Base Currencies

XM offers USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, and RUB as base currencies for Micro and Standard Accounts.

For Ultra Low and Zero Accounts, a more limited selection of base currencies are available as shown below.

Deposit Options and Fees

To deposit funds in an XM trading account, clients can use credit cards (Visa and Mastercard), debit cards, bank transfers, Western Union or e-wallets.

Withdrawal Options and Fees

A downside to XM is its withdrawal fees for small sums. If a customer withdraws less than $200 from their trading account via bank wire transfer, they will incur a $15 administration fee.

Other Fees

While many brokers start charging clients account inactivity fees after 6-12 months, XM traders who have not traded for 90 days will be charged a monthly inactivity fee of $5.

Product Range

XM offers a diverse range of over 1,250 CFD trading products, including forex, shares, indices, and commodities.

While many of the best brokers charge traders a commission fee for stock CFD trading, XM provides commission-free commodity and share trading.

• Forex: XM offers 57 currency pairs, encompassing major, minor, and exotic pairs.
• Stocks: A vast selection of 1,144 stocks, including prominent listings from NYSE, NASDAQ, LSE, ASX, FWB, and EuroNext, ideal for global market investors.
• Equity Indices: Includes 18 cash indices and 12 futures indices, suitable for traders speculating on broader market trends.
• Soft Commodities: Features 8 diverse commodities, providing opportunities for portfolio diversification beyond forex and stocks.
• Precious Metals: Offers 2 types of precious metals, appealing to those interested in safe-haven assets or inflation hedging.
• Energies: Provides 5 energy instruments, targeting traders focused on the dynamic energy sector, including oil and natural gas.

Customer Service

XM traders can get in touch with the broker’s customer service team via phone, live chat, and email 24/5.

Although a good range of contact methods are offered by XM, there is no customer support available on weekends.

XM’s customer support team are multilingual, with representations fluent in English, Japanese, Chinese, Hindi, Arabic, Spanish, Italian, French, Russian, Hungarian, Portuguese, Czech, Slovakian, Bulgarian, Romanian, Dutch, Korean, Bahasa Indonesia and Bahasa Malay.

Personal Account Manager

All XM clients are allocated a personal account manager who is available to assist you with any account or trading question you may have. XM personal account managers have a reputation for ensuring their clients get the best from their trading activities.

Research and Education

XM provides a comprehensive suite of research and educational resources, including trading guides, webinars, and fundamental analysis tools.

Educational Materials

XM offers a wide array of educational materials, designed to cater to traders of all levels, enhancing their trading knowledge and skills.

• XM Live: A free webinar service providing live discussions with XM experts on trading fundamentals, educational webinars, and debates between traders and brokers.
• XM Tradepedia: A comprehensive video series offering Forex education, covering topics from market introduction to trading strategies.
• Scheduled Webinar Instructors: Daily webinars available seven days a week, conducted by 49 instructors in 19 languages, as part of XM’s Tradepedia Forex education.
• Live Forex Seminars: Interactive seminars led by Portfolio Manager Avramis Despotis, focusing on market volatility, intraday trading techniques, and effective trading strategies.

These resources are integral to XM’s commitment to providing a thorough educational experience, helping traders to understand market dynamics and develop strong trading strategies.

Market Research And Analysis

XM also provides a diverse suite of market research and analysis tools to keep traders informed and ahead in the financial markets.

• XM Research: XM’s research team offers in-depth analysis and insights into market dynamics, assisting traders in making informed decisions.
• Trade Ideas: Regularly updated trade ideas are provided, giving traders actionable insights for potential trading opportunities.
• Technical Summaries: XM offers detailed technical summaries, which are essential for traders who rely on technical analysis for their trading strategies.
• Economic Calendar: An essential tool for all traders, the economic calendar lists all important upcoming economic events and indicators that can impact the markets.
• XM TV: A unique offering where traders can access video content on market analysis and updates.
• Podcast: XM provides podcasts featuring discussions on various market-related topics, offering an alternative way to stay informed.
• Market Pulse: Available on XM’s dedicated research page, Market Pulse offers real-time updates and analyses on market movements and trends.

Final Verdict on XM

XM, established 15 years ago, has carved a niche in the online brokerage industry with its diverse offerings and client-centric approach.

The broker’s extensive range of over 1,250 CFD products, including forex, stocks, commodities, and indices, caters to a broad spectrum of traders. XM’s competitive ECN spreads, particularly for UK and European traders, and the availability of both MetaTrader 4 and MetaTrader 5 platforms, make it a versatile choice for various trading strategies.

The addition of personal account managers for each client further enhances the personalised trading experience. While XM’s no commission spreads may not be the lowest, its commitment to providing a dynamic trading environment, coupled with strong customer support, positions XM as a significant player in the global forex market.

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