XM Group Forex Broker Review
XM Group Forex Broker Review
In this review of XM Group, we take a look at an online forex broker with over a decade of experience and a stellar reputation as one of the most trusted names in the industry.
XM Group provides a huge selection of assets to choose from for traders and is regulated by some of the most respected financial bodies in the sector. This regulation means you can always expect transparency and fair trading, no matter which instruments you choose.
Continue reading our XM Group review 2019 to learn more about every aspect of this top forex broker. Our expert review team have explored the site thoroughly, giving you all the information you need to decide whether XM Group is the right broker for you.
- XM Group offers 57 currency pairs and CFD trading in commodities, indices, metals, energies, and cryptocurrencies.
- Major trading platforms MT4 and MT5 are offered to all traders.
- XM Group is regulated by the world’s most respected regulatory bodies.
- An accomplished and well-rounded package makes XM Group the best broker for new traders.
- Not available to US customers due to regulatory constraints
- Metatrader trading platforms only are available. No proprietary XM trading platform as yet.
A brief history of XM Group
XM Group is owned by Trading Point Financial Instruments Ltd and was established in 2009. The company originally operated solely from Cyprus yet, as they are now an international brand, they also have headquarters in Sydney, London, and Belize.
Our XM Group review team found the company’s registration documents with ease. Combined with its global reach, this transparency shows that XM Group is a broker you can trust.
Trusted regulation around the world
XM Group is highly compliant with regulations in many jurisdictions around the world. During our review of XM Group , our team found that the broker is regulated by CySEC, ASIC, FCA, and IFSC. These bodies represent the pinnacle of regulation in the industry.
XM Group is answerable to these regulatory bodies at all times and will be subjected to regular audits by each. This means they must always remain in full compliance with the regulations in each area of their company and in each of the countries they cater for.
This type of regulation also means that if the broker was to become insolvent or encounter other issues, your funds would be secure. All funds at XM Group are deposited within segregated accounts at top-tier financial institutions and are inaccessible to the company for anything other than your requested trades.
Try one of the many account types available
XM Group offers three specific account types for you to choose from. Our XM Group broker review team found that each account type has something to offer all traders, depending on your budget and trading aspirations.
For traders within the EU, the XM Group Micro Account and the XM Group Standard Account both feature an unbeatable minimum deposit of $5. Spreads on these account types start as from as low as 1 Pip.
The XM Group Zero Account is also offered to traders within the EU. This account has a minimum deposit requirement of $100 and spreads start from 0 Pips. This account does apply a commission of $3.50 per lot traded, but the result is still a highly competitive cost.
As an Australia-based XM Group trader, you can benefit from the XM Ultra Low Account. With a minimum deposit of $50, this account type offers spreads starting from 0.6 Pips.
If you are an XM Group global trader located outside Australia and the EU, you can take advantage of the XM Group Shares Account. This account is only available in US dollars and focuses on trading share CFDs. Spreads are dependent on the underlying exchange rate and the minimum deposit on this account is $10,000.
XM Group leverage is restricted within the EU to 1.30, due to ESMA regulations. Leverage can reach 1:500 for Australian traders, and 1:888 maximum leverage for traders operating in other global markets.
XM Group also offers forex demo accounts with starting balances of $100,000. These accounts give you the opportunity to practice using each of the account types listed above, so you can work out which one is best for you.
Highly competitive costs and trading fees
Our forex broker review team found that XM Group comes up trumps yet again when it comes to fees and trading costs.
XM Group charges no deposit or withdrawal fees and they offer commission-free trading as much as possible. They also charge a minimal rollover fee, depending on the market you are trading and its position, and a comparatively low inactivity fee of $5 a month. This is only charged after 90-days of no trading activity.
Choose from a variety of secure payment methods
At XM Group , you will always be able to deposit and withdraw from your account safely as the broker accepts payments from a variety of secure and trusted banking services. These include:
All these methods can be used for both deposits and withdrawals, and there is a minimum limit of $5 per transaction. All withdrawals are credited back to you within 24 hours, so long as your account has already been verified.
All payments made at the XM Group online broker site are also protected by SSL technology. This means that there’s no risk of having your banking details fall into the wrong hands.
XM Group provides a great range of reputable and regulated payment options to choose from, meaning you can always feel confident and comfortable when funding your XM Group account.
Grab a top bonus from XM Group
XM Group offers a variety of excellent forex bonuses to new traders. These include both no deposit bonuses, which are credited to your account automatically upon registration, and match deposit bonuses. These bonuses allow you to explore everything XM Group has to offer before deciding to fund your account.
During our XM Group review, our expert team also found that the broker offers a plentiful loyalty program which offers seasonal and exclusive bonuses to regular traders.
Due to the seriousness with which XM Group takes its regulatory obligations, these bonuses are only available to traders outside of the EU.
Trade with the best platforms in the industry
Our broker review team found the XM Group desktop site to be intuitive and easy to navigate. The same can be said for the registration process, which can be completed within a matter of minutes. This user-friendly approach is yet another factor which makes the XM broker platform ideal for first-time traders.
More experienced traders will also be delighted to discover that all the XM Group account types allow for hedging and that the broker operates with the most renowned trading platforms in the sector.
MT4 has been around for over a decade and continues to impress with its huge array of charting and professional indicators. You can be sure never to miss a moment in the market with this fantastic trading platform. XM Group also offers MT5, which is particularly suited for CFD trading.
If you don’t want to download trading platform software, XM Group also offers the lightning-fast and efficient Webtrader platform. Also created by Metatrader, this allows you to trade directly from your browser.
Use XM Group with ease on your mobile
All XM Group account holders can use the MT4 mobile trading platform to enjoy smooth and secure trading on-the-go. In fact, the mobile experience at XM Group rivals many other desktop platforms.
With the MT4 mobile trading platform app, you still have access to an abundance of data and professional charting services. Our XM Group broker review team also found the app to be extremely accessible and easy to use on both iOS and Android devices. Simply download it from the Apple App Store or Google Play Store, log in with your XM broker credentials and you will be ready to start trading.
Keep learning with fantastic education resources
The XM Group learning center provides access to a huge range of amazing forex learning guides to help you further your forex education and assist in your development as a broker. These include video tutorials and webinars with some of the top experts in the industry.
Whether you are a new trader who needs a little help or you’re already well on your way to becoming the best trader you can be, the XM Group online broker Research and Education Center is sure to be a useful tool.
Helpful and dedicated customer support
XM Group boasts a professional support team to help you through any difficulties which may arise. Support services are available via telephone, email, and live chat, and these are available 24 hours a day, from Monday to Friday.
During our review of XM Group forex broker, we found the support staff to be both well-informed and quick to reply. There’s also a comprehensive FAQ guide which provides you with detailed answers on everything from fees to using the trading platform.
XM Group’s thorough support options should give you peace of mind every time you trade. You can rest assured help is always at hand and that this online broker is committed to making sure you’re always confident in what you’re doing.
XM Group is a very popular broker with an excellent reputation, and it’s clear to see why from this review. With low costs, trusted regulation, great educational services, and attentive customer support, XM Group is a solid choice of broker for both new and experienced traders.
Complete the easy sign-up process at XM Group today to start trading with one of the best brokers around.