XM Review 2025
Our Take on XM
Established in 2009 and headquartered in Cyprus, XM is a globally recognized forex and CFD broker operating under strict regulatory oversight. With licenses from multiple respected authorities, XM offers traders a secure and transparent trading environment.
The platform provides access to over 1,300 tradable instruments across forex, commodities, indices, and stocks — catering to a wide range of trader profiles. Powered by the industry-leading MetaTrader 4 and MetaTrader 5 platforms, XM also offers free VPS hosting, which is particularly beneficial for professional and algorithmic traders who rely on speed and stability.
XM excels in trader education and research. Its educational suite is rich with webinars, tutorials, market analysis, and trading tools, making it an excellent choice for beginners and experienced traders alike. The broker also stands out for its variety of account types and its unique thematic indices, giving traders more ways to diversify their strategies.
However, it’s worth noting that trading fees at XM are slightly higher than the industry average, and the platform currently does not support cryptocurrency trading. Additionally, traders looking for alternatives to MetaTrader may find the platform’s offering somewhat limited.
XM: Pros and Cons
Pros
- Well-regulated across multiple jurisdictions
- Wide range of over 1,300 instruments
- Free VPS hosting for high-speed trading
- Innovative thematic indices
- Rich educational and market research content
Cons
- Above-average trading fees
- No support for cryptocurrencies
- No alternative platform beyond MetaTrader
Is XM the Right Broker for You?
When evaluating a broker, it’s essential to understand how well it supports various trading strategies. We’ve analyzed XM’s platform, features, and tools
to help determine whether it suits your specific trading needs in 2025.
Strategy-Based Suitability
| Strategy | XM’s Performance | Remarks |
|---|---|---|
| Casual Trading | Acceptable Choice | Good educational tools and an easy-to-use platform. Slightly lower rating due to above-average fees. |
| Social & Copy Trading | Perfect Choice | Supports copy trading via MT4/MT5 and MT4 Multiterminal, ideal for account managers. |
| Swing Trading | Acceptable Choice | Competitive swap rates and strong research content make XM viable for medium-term strategies. |
| Day Trading | Acceptable Choice | Offers over 1,300 instruments, but high spreads on some accounts may affect short-term trades. |
| Scalping | Perfect Match | MT5 supports 21 timeframes and one-click execution. VPS with sub-3ms latency is ideal for scalping. |
| News Trading | Acceptable Choice | Provides news screeners and daily analysis, but execution speed (~100ms) can be limiting without VPS. |
| Automated Trading | Perfect Choice | Built-in strategy testers on MT4/MT5 and VPS hosting support seamless algorithmic trading. |
| Long-term Investing | Not Recommended | XM does not offer real stocks or ETF products suitable for long-term investment strategies. |
XM Highlights for 2025
- Regulatory Protection: XM is licensed by two Tier-1 regulators and adheres to best-execution standards.
- Fee Structure: Standard and Micro accounts have wider spreads, while XM Zero offers more competitive fees.
- Vast Instrument Range: Over 1,300 tradable instruments, including unique options like thematic indices.
- Flexible Account Types: Choose from three retail account types tailored to various trader profiles.
- Exceptional Support & Education: Robust research tools and free educational content for all skill levels.
XM Main Features (2025)
 Regulations | IFSC (Belize), DFSA (UAE), ASIC (Australia), CySEC (Cyprus) |
|---|---|
 Supported Languages | Romanian, Turkish, Korean, English, Urdu, Russian, Hindi, French, Indonesian, Portuguese, Thai, Polish, Czech, Arabic, Hungarian, +11 others |
 Products | Currencies, Stocks, Indices, Commodities |
 Min Deposit | $5 |
 Max Leverage | 1:500 (IFSC), 1:30 (DFSA), 1:30 (ASIC), 1:30 (CySEC) |
 Trading Desk Type | No dealing desk |
 Trading Platforms | MetaTrader 5 (MT5), MetaTrader 4 (MT4) |
 Deposit Options | China UnionPay, Sofort, Wire Transfer, MoneyGram, Neteller, Moneybookers, iDeal, WebMoney, Skrill, Credit Card, Western Union |
 Withdrawal Options | China UnionPay, Sofort, Wire Transfer, MoneyGram, Neteller, Moneybookers, iDeal, WebMoney, Skrill, Credit Card, Western Union |
 Demo Account | Yes |
 Foundation Year | 2009 |
 Headquarters Country | Cyprus |
How Did We Test the Broker’s Trustworthiness?
Summary: XM operates under four regulated entities: CySEC (Cyprus), ASIC (Australia), DFSA (Dubai), and FSC (Belize). The broker complies with key safety protocols including
negative balance protection and segregated client funds. It also enforces a best execution policy to ensure client orders are filled at the most favorable market conditions.
| Entity Features | Trading Point of Financial Instruments Ltd | Trading Point of Financial Instruments Pty Ltd | Trading Point MENA Limited | XM Global Limited |
|---|---|---|---|---|
| Country / Region | Cyprus, Limassol | Australia, Sydney | UAE, Dubai | Belize, Belize City |
| Regulation | CySEC | ASIC | DFSA | FSC |
| Tier | 1 | 1 | 2 | 3 |
| Segregated Funds | Yes | Yes | Yes | Yes |
| Negative Balance Protection | Yes | Yes | Yes | Yes |
| Compensation Scheme | Up to EUR 20,000 under ICF | No | No | No |
| Maximum Leverage | 1:30 | 1:30 | 1:30 | 1:1000 |
XM Trading Fees
XM Spreads
We tested XM’s spreads on 5 July 2024 during the London and New York market openings. The live spreads across various asset classes
are shown below and benchmarked against the industry average.
| Instrument | Live Spread AM | Live Spread PM | Industry Average |
|---|---|---|---|
| EUR/USD | 1.2 pips | 1.4 pips | 1.08 pips |
| GBP/JPY | 3.0 pips | 3.3 pips | 2.44 pips |
| Gold (XAU/USD) | 35 pips | 37 pips | 42 pips |
| Crude Oil | 0.03 pips | 0.03 pips | 0.03 pips |
| Apple | NA | 0.39 points | 0.33 points |
| Tesla | NA | 0.41 points | 0.50 points |
| Dow Jones 30 | 4.0 basis points | 4.0 basis points | 3.3 basis points |
| Germany 40 | 2.6 points | 2.6 points | 2.4 points |
| Bitcoin | Not Available | Not Available | $35.5 |
Based on the data, XM offers competitive spreads on share CFDs, average spreads on commodities and indices, and
slightly above-average spreads on major forex pairs.
XM Swap Fees
Swap fees are overnight interest charges applied to open positions. “Swap long” refers to holding a buy position overnight, and “swap short” applies to sell positions.
The following data reflects swaps for one standard lot (100,000 units):
| Instrument | Swap Long | Swap Short |
|---|---|---|
| EUR/USD | Charge of $8.13 | Credit of $1.77 |
| GBP/JPY | Credit of $12.80 | Charge of $46.10 |
Based on our findings, XM’s swap fees are low to average compared to the industry benchmark, making them a good fit for swing traders and long-term strategies.
XM Non-Trading Fees
- No deposit or withdrawal fees are charged by XM. However, third-party banking fees may still apply.
- An inactivity fee of $10 is applied to dormant accounts.
Account Type Comparison
The table below compares the trading costs for XM’s three main retail account types with the industry average. The net cost is calculated
based on a 1-lot EUR/USD trade (100,000 units), using the formula: Spread x $10 pip value + commission.
| Account Type* | Minimum Deposit | Spread | Commission** | Net Cost |
|---|---|---|---|---|
| Ultra Low Micro | $5 | 1.3 pips | $0 | $13 |
| Ultra Low Standard | $5 | 1.3 pips | $0 | $13 |
| XM Zero | $5 | 0.1 pips | $7 | $8 |
| Typical STP | NA | 1.2 pips | $0 | $12 |
| Typical ECN | NA | 0.2 pips | $6 | $8 |
*These numbers are illustrative and may vary.
**Round-turn commission
The XM Zero Account delivers the most competitive pricing, aligning closely with industry-standard ECN accounts. It’s suitable for day trading and swing trading,
and has a very low entry point with just a $5 minimum deposit.
XM Trading Platforms & Tools
XM offers a solid suite of trading platforms and tools that cater to both beginner and professional traders. Whether you’re interested in manual trading, algorithmic strategies, or copy trading, XM ensures a smooth and reliable experience. The broker supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the industry’s most trusted platforms, available across desktop, web, and mobile devices.
MetaTrader 4 (MT4)
MT4 is ideal for forex traders who prefer a clean and intuitive interface. It includes powerful charting capabilities, multiple order types, and automated trading through Expert Advisors (EAs).
Key features include:
- 9 timeframes and 30 built-in technical indicators
- 1-click trading and real-time quote streaming
- Customizable charts and trading templates
- Available on desktop (Windows, macOS), web browser, Android & iOS
MetaTrader 5 (MT5)
MT5 is an enhanced version of MT4, offering more technical tools, faster execution, and access to more asset classes. It’s suitable for traders who want advanced features and more comprehensive market analysis.
- 21 timeframes and 80+ technical indicators
- Economic calendar integrated directly into the platform
- Support for trading stocks, indices, commodities, and cryptocurrencies
- Depth of market (DOM) and more sophisticated order types
XM WebTrader
XM’s WebTrader allows you to trade directly from any browser without downloading software. Powered by MetaTrader, it ensures full functionality, security, and a seamless user experience across all devices.
XM Mobile Trading App
For traders on the go, XM provides full mobile support via the MT4 and MT5 mobile apps, available for Android and iOS. The apps include real-time pricing, advanced charting, and full account management tools.
Trading Tools Offered by XM
Beyond the platforms, XM enhances the trading experience with a rich set of analytical and trading tools:
- Economic Calendar: Stay informed about major market-moving events and announcements.
- Market Overview: Get daily insights and technical analysis on forex pairs, commodities, and indices.
- Trading Signals: Access free technical trading signals powered by Autochartist.
- VPS Hosting: Free VPS service for eligible clients to ensure ultra-fast and stable trade execution, ideal for scalping and automated strategies.
- Research Tools: XM provides in-depth market research, webinars, and trading ideas for informed decision-making.
Copy Trading Support
XM supports copy trading via the MetaTrader platforms, including MT4 Multiterminal for money managers and account managers handling multiple accounts. This makes XM a good fit for those looking to copy or offer trading strategies.
Conclusion
Overall, XM delivers a top-tier trading environment with reliable platforms and an impressive array of trading tools.
Whether you’re a beginner just starting out or an experienced trader using EAs or scalping techniques, XM’s platform ecosystem is
flexible, powerful, and user-friendly. Combined with strong execution speeds and mobile access,
XM stands out as one of the most complete broker platforms in 2025.
Tradable Instruments
How Did We Test the Broker’s Tradable Instruments?
To evaluate XM’s market offering, we examined the variety, depth, and accessibility of tradable instruments available on the platform.
Our proprietary database also allowed us to benchmark XM’s offerings against industry standards to determine whether it meets the needs of different types of traders.
XM provides access to over 1,300 instruments across major asset classes — including forex, commodities, share CFDs, and indices.
Instruments are available as spot trades, CFDs, or futures contracts. However, XM currently does not offer lower-risk investment products
like ETFs or cryptocurrencies.
| Markets | Industry Average | Types | Contract Types |
|---|---|---|---|
| 55 Currency Pairs | 30 – 75 | Majors, Minors, Exotic | Spot |
| 14 Commodities | 5 – 10 | Metals, Energies, Agriculture | CFDs, Futures |
| 1300 Share CFDs | 100 – 500 | US, Europe, Asia | CFDs |
| 26 Indices | 5 – 10 | US, Europe, Asia | CFDs, Spot |
What are CFDs?
A Contract for Difference (CFD) is a financial derivative that allows traders to speculate on the price movement of an asset without owning the underlying instrument.
For example, taking a long CFD position on gold would result in profit if the gold price rises — all without needing to buy physical gold.
CFDs are popular due to their flexibility and ease of entry/exit, allowing traders to capitalize on even small price movements with minimal barriers.
What Can You Trade with XM?
EUR/USD, GBP/JPY, USD/CAD, EUR/CHF, USD/JPY, NZD/CAD
Apple, Tesla, Microsoft, META, Citigroup, Barclays, Siemens
Dow Jones 30, Germany 40, France 40, Hong Kong 50, China 50
Gold, Crude Oil, Silver, Brent Oil, Wheat, Sugar, Coffee
Key Takeaways
- Excellent variety of share CFDs from global markets
- Supports thematic indices to diversify exposure
- No crypto or ETF trading available
Deposit and Withdrawal
How Did We Test the Broker’s Deposit and Withdrawal Process?
We examined XM’s deposit and withdrawal infrastructure for transparency, speed, and flexibility. Using our proprietary comparison database,
we evaluated available methods, processing times, and associated fees to see how XM stacks up against industry standards.
XM supports bank wire transfers, credit/debit cards, and e-wallets like Neteller and Skrill.
The broker does not charge any internal handling fees. However, third-party fees may still apply depending on your payment provider.
Most transactions are processed within one business day.
XM Deposit Methods
| Payment Method | Currency | Processing Time | Fee |
|---|---|---|---|
| Credit/Debit Card | EUR, USD, GBP | Instant | $0 |
| Wire Transfer | EUR, USD, GBP | 2–5 Business Days | $0 |
| Neteller | EUR, USD, GBP | Instant | $0 |
| Skrill | EUR, USD, GBP | Instant | $0 |
XM Withdrawal Methods
| Payment Method | Currency | Processing Time | Fee |
|---|---|---|---|
| Credit/Debit Card | EUR, USD, GBP | Up to 24 Hours | $0 |
| Wire Transfer | EUR, USD, GBP | 2–5 Business Days | $0 |
| Neteller | EUR, USD, GBP | Up to 24 Hours | $0 |
| Skrill | EUR, USD, GBP | Up to 24 Hours | $0 |