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XM Group Broker Review

XM Group is a regulated online forex broker, owned and operated by a company called Trading Point of Financial Instruments Ltd. The company was established in 2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670) and Trading Point of Financial Instruments UK Ltd was established in 2016 and it is regulated by the UK’s Financial Conduct Authority (FCA 705428). This broker has more than 250 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 Group do not accept US traders, however traders of all levels from other countries are welcomed.

Uniquely, XM Group is a specialist in providing “Islamic Accounts”. These are accounts aimed specifically at traders following the Islamic faith, where trading is considered “Halal” (translated as “allowed” or “permissible”). These accounts are actually technically called “swap-free” accounts. They allow no swap or rollover interest on overnight positions, as this is against the Islamic faith. If you’d like a swap-free account, simply open a trading account and speak with the XM Group support team for more details on the application process.

XM Group state that they value trading efficiency and want to provide their customer with a fantastic user experience. This is noticeable as they offer an extensive range of trading tools, cutting edge trading platforms and a personalised customer services. They also allow 24hr trading, five days a week and the ability to trade on margin. XM Group supplement their main Forex operations by offering CFD trading, which offer their traders with the opportunity to trade with financial products such as indices, precious metals and energies.

XM Group are an excellent broker with multitude of options, account types and tools to suit traders of all levels. We haven’t even mentioned their minimum deposit amount of $5(!), the lowest we’ve seen in online Forex. There’s a lot to shout about when it comes to XM Group.

Licensing Jurisdictions

XM Group is a group of regulated online brokers. Trading Point of Financial Instruments Ltd was established in 2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670) and Trading Point of Financial Instruments UK Ltd was established in 2016 and it is regulated by the Financial Conduct Authority (FCA 705428).

This wide range of licensing allows XM Group to accept traders from across the globe, however, they do not currently accept US traders. At XM client funds are their top priority. This allows XM Group to further reassure all clients of the safety of their funds, which are segregated from company funds. It’s worth mentioning that XM Group also use an automated system for monitoring funds and transactions to ensure no negative balances on trading accounts, protecting its clients from losses that exceed their investments.

Trading Platform and Features

Most Forex brokers provide an industry-leading platform such as MetaTrader 4 and combine this with a good mobile app. XM Group offers MT4 and MT5 trading platforms which are accessible via various methods (i.e. PCs/Mac, Smartphones and Tablets). They truly do not waste any opportunity to live up to the claim of “Valuing Trading Efficiency” and cater for traders of all levels and requirements.

These platforms are each described in brief detail below.

  • XM MT4 Terminal – This is XM Group’s version of the industry-leading MetaTrader 4 platform. It is highly configurable and perfectly suited to both expert and novice traders alike. It offers a live news feed and an extensive technical analysis capabilities. The MT4 platform also incorporates One Click Trading alongside their manual trading feature, and even allows you to setup EAs to automatically place trades for you. In fact, there are a number of add-ons and applications that will help you trade and improve your strategies. Trade Forex, Futures and CFDs with no re-quotes and no rejections on this platform.
  • XM MT5 Terminal – XM Group has worked hard to fulfil the desire’s of their clientele, which now includes the option of a second MetaQuotes platform with all the trimmings – MetaTrader 5. This platform has the ability to display 100 charts simultaneously, features over 1000 assets, is suited to mobile trading for iOS and Android, as well as Windows, Max, and Linux operating systems. MT5 supports all order types, over 80 technical indicators and 40+ analytical objects. To access the XM MT5 Terminal, traders will need to run a compatible MT5 trading account, and cannot switch between the two MT variants. On MT5, traders will have the option to trade all the instruments available on to them through XM Group, including stock CFDs.
  • XM Mac MT4 & MT5 – This is a mac compatible version of the highly popular MT4 and MT5 platforms. This version of the platform includes all of the features and functionality described above, but allows traders to use the platform on Apple Computers WITHOUT the need to run a parallel Windows desktop or Windows emulator.
  • XM MT4 MultiTerminal – The MultiTerminal platform is primarily designed for money managers or traders who use multiple accounts and execute multiple order types simultaneously. Many of the features of MT4 are available, but EAs are not allowed as the terminal is intended for managing multiple accounts only. MultiTerminal doesn’t provide tech analysis either, but it does offer financial news and system alerts in real-time, along with several execution models designed to meet the requirements of those who need to manage multiple accounts.
  • XM WebTrader – This is XM Group’s online trading platform. It is compatible with PC, Mac and any other machine capable of running a browser. No Download is required. Simply open the platform from XM.com in your browser and gain full access to your trading accounts immediately. Traders can take advantage of a number of tools to enhance their trading skills and trade with no re-quotes and no rejections. Like the MT4 and MT5 platforms, the WebTrader platforms provides one-click trading, streaming news, an economic calendar and market analysis. It’s powerful, flexible, and capable. It comes highly recommended.
  • XM iPad Trader – XM Group brings MetaTrader 4 & 5 to all iPad users with their iPad Trader platform. It provides access to your MT4 or MT5 account and presents real-time interactive charts with zoom and scroll functionality. It also provides real-time quotes of financial instruments, a full set of trading tools and a complete trading history, ensuring that traders can analyse their progress accurately. Unlike some apps, this is far from an afterthought and truly does provide a fantastic remote trading experience.
  • XM iPhone Trader (IOS), XM Droid Trader (Android), XM Mobile Trader (Windows Mobile) – Mobile users are not left wanting as XM Group provide a mobile solution for all major smartphones. Their mobile platforms offer outstanding trading flexibility by bringing you a scaled down version of MetaTrader 4 or MetaTrader 5 to your fingertips. They each offer direct access to your account and provide real-time quotes of financial instruments. The platforms also provide a full set of trade orders including pending orders, trade history, 30 technical indicators, and the ability to trade directly from charts.

Support and Services

The XM Group support team will live up to our high expectations. The team provides support in over 20 languages and proudly state that they serve clients from 196 countries. All our interactions with the team were met with smart, prompt replies that were to the point and addressed and resolved our issues quickly and efficiently.

The telephone and Live Chat support teams are available 24hrs a day, 5 days a week. Email support is available at all times and clients can expect a response within 48hrs. We recommend researching their extensive FAQ area before contacting support as most issues and solutions are represented here. Please don’t hesitate to contact their highly capable support teams if you have any issues whatsoever.

Banking Options

XM Group offer the LOWEST minimum deposit amount that we know of at a meagre $5 per deposit and one of the highest leverages at 1:500. They even allow withdrawals from just $5 upwards. This is very attractive to traders who do not wish to invest too much too soon when exploring a new broker. It’s worth noting that XM Group are very generous with their bonuses. Every new real-money trading account opened will qualify for a $30 no deposit bonus. In addition to this, you can also claim their highly attractive 50% welcome bonus until you reach a maximum bonus amount of $500USD. The percentage then changes to 20% until you reach a maximum bonus amount of $5,000. Clients registered under Trading Point of Financial Instruments Ltd are not eligible for any bonus. 

There are numerous ways to fund your trading account AT XM Group. In fact, we believe that they offer one of the most extensive lists of deposit options out there. They accept all major Credit and Debit Cards (including Diners Club and Union Pay), and offer multiple bank transfer options. The range of online payment solutions offered includes Neteller, WebMoney, and Skrill. If you have a limited number of deposit options available to you, based on your country of residence, you are also able to fund your account using the services of Western Union or MoneyGram. Please have a look at the XM Group website for an extensive list of deposit options, or check with their support team for more information when registering.

As with all Forex brokers, withdrawal of funds is only available to clients that have verified their accounts. We recommend that you provide the necessary documentation and verify your account on registration to avoid delays with withdrawals. All withdrawals requests will be processing within 24hrs, but all withdrawal requests submitted will be instantly reflected in your trading account.

Why Trade at XM Group?

There are several reasons why we think you should trade with XM Group. They only require a minimum deposit of $5, they provide numerous speedy deposit and withdrawal methods. Traders concerned with safety and regulation need not look elsewhere either, as XM Group have been licensed and are regulated by numerous top-tier jurisdictions. They cater for novice and expert traders as well as more experienced traders, and even portfolio managers via their highly capable and technologically advanced platforms.

We are convinced that XM Group will live up to your expectations from a Forex broker. Simply open a free demo account and test-drive them and see for yourself. Once you are confident that this is a broker that you want to work with, take advantage of their hugely attractive welcome bonus (if your region allows for this), and begin your trading career.