XM Group Review


Custom-Tailored Trading Accounts
Editor’s Rating: 90
Very Good
Average User Rating:

Very Good

Introduction

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).

Among the strongest advantages of this broker is that they offer a diversity of trading account types along with Islamic and demo accounts. They also require a $5 minimum initial deposit which is amazingly low in comparison to the requirements of their competitors. They only disadvantage that I found about this broker is that don’t support PayPal but this is countered by the over 20 available payment options. You may continue reading for my full review.

Account Features

Demo Account: No time limit!

Their demo account can be used without any restrictions or time limit. It comes preloaded with $100,000 virtual money that can be used for doing test trades. This is a great advantage to practice online trading that have real market conditions without the need to risk real money.

Bonuses: Generous incentives

XM Group offers a number of bonuses starting with a $30 no deposit bonus for opening a live account. In addition, they offer a 50% deposit bonus of up to $500 plus a 20% deposit bonus of up to $5000. They also allow exchanging points for an additional bonus and entries for seasonal and invitation only bonuses.

*Clients registered under Trading Point of Financial Instruments Ltd and Trading Point of Financial Instruments UK Ltd are not eligible for any bonus.

Trading Details

Platform: Trading made easy and convenient

XM Group provides a selection of well-optimized platforms which can be operated with the same account. This includes the following: MT4 for PC, MT4 for Mac, MT4 Multiterminal, MT4 WebTrader, MT5 for PC, MT5 for Mac, MT5 WebTrader, MT4 for iPhone, MT4 for Android, MT5 for iPhone, MT5 for Android, MT4 for iPad, MT4 for Android, MT5 for iPad and MT5 for Android. These options allow me to trade not just from a Windows PC but also on other devices that are running on different operating systems.

xm platform

Mobile Trading: Compatible with iOS and Android devices

In terms of mobile support, XM Group also has developed dedicated apps for devices that are running the iOS and Android platforms. That means I can access and keep track of my trades directly from my mobile device and straight from the app that has been designed particularly for iPhone, iPad and a plethora of Android gadgets.

Minimum Lot Size: Less risk exposure

I prefer to trade with a smaller lot scale to lessen the risks and it’s good to know that this broker offers a minimum of 0.01. This surely can help me in employing a more effective risk management strategy.

xm lot size

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Maximum Leverage: Potential gains amplified

The maximum leverage that is allowed by this broker is at 1:30 which is an added advantage because I can amplify not just my trading amount but also my potential gains as well.

Note: Leverage depends on the financial instruments.

Spreads: Same for all account types

The good news is that they offer the same tight spreads that can go for as low as 1 pip for Micro and Standard account and as low as 0 pip for XM Zero account. They also charge commission for the XM Zero account only. As for the EUR/USD pair, they offer 1.8 pips which is advantageously low and low spreads mean better profits.

Tradable Instruments: More choices

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.

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Deposit and Withdrawal

Minimum Deposit: Competitively low

Technically XM Group doesn’t require a minimum deposit amount but due to the system restrictions limit, they have set it to just $5. This is a definite advantage since I will be able to fully control the funds that I can transfer on my account

Deposit Methods: Over 20 options

XM Group accepts the most commonly used Local Payment Methods today including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc.

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Withdrawal Processing Time: Fast enough

A withdrawal request with this broker only takes 24 hours to get processed. That’s a lot faster than the standard processing time of most brokers which take around 2 weeks.

Support

Channels: Different ways to contact

It’s easy to get in touch with their customer service department because they can be contacted by phone, fax, email and live chat. It’s very convenient and very easy.

Availability: 5 days a week

They can be reached any time of the day but are only available on weekdays.

Supported Languages: More than 20 languages

Aside from English, they also cater to more than 20 different languages including Japanese, Greek, Bahasa Indonesian, Malaysian, Svenska, Arabic, Portuguese, Thai, Czech, Magyar, French, German, Spanish, Turkish, Filipino, Chinese, Russian, Italian, Polish, Korean, Vietnamese and Dutch.

xm support

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User Reviews

Average User Rating: 9.2

This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.

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Editor’s Opinion

Platform Design: Fully equipped with useful trading features

The interface was very easy to get used to because it is very clean and sophisticated. It comes fully equipped with all the useful tools and commands that are needed for trading. I also liked the colors that they used especially for the webtrader platform.

Support: Provides quality service

I have been communicating with their support department numerous times already and overall my experience with them was always great. For every question or concern that I have they always manage to find answers and solutions in a very fast and accurate manner.

Reputation: In compliance with the authorities

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). With such compliance with these regulating bodies, it goes to show that they are strictly employing business transparency and professional communication with their clients. They are also highly popular for hosting free forex seminars across different regions.

Conclusion

Editor’s Rating: 90

XM Group provides a variety of advanced trading platforms and access to a diverse range of financial instruments with advantageous trading conditions plus an education center that covers a full range of up-to-date tools that are essential for making profitable trades. This kind of superior service certainly proves that they deliver a flexible and custom-tailored solution for any type of trader.

 

 

Is This The Right Broker For You?

Yes
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No
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