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XM Group Review

Steven Hatzakis

Steven Hatzakis | September 17th, 2019

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

While XM Group provides the entire suite of MetaTrader platforms and over 1000 tradeable instruments, the broker provides a mediocre experience across the board and struggles to stack up against industry leaders.

  • Founded in 2009, XM Group is a vanilla MetaTrader broker that offers the complete MetaTrader suite, albeit with no notable upgrades to enhance the experience.
  • While XM Group is regulated, it has only 10 years of business operation and trails Trust leaders like IG, Saxo Bank, and CMC Markets.
  • Pricing at XM Group varies by account type. Overall, the broker is not a stand out for low-cost trading.
  • While XM Group’s research offering is slightly above the industry standard, it is far from challenging industry leaders such as Saxo Bank and IG.
  • No matter how you slice the data, compared to other top-rated MetaTrader brokers, our testing found XM Group fails to stand out. There are better choices, across the board, in the areas important to trades.
FeatureXM Group
Overall 3.5 Stars
Trust Score78
Offering of Investments 3.5 Stars
Commissions & Fees 4 Stars
Platform & Tools 3 Stars
Research 3.5 Stars
Mobile Trading 3.5 Stars
Customer Service 4 Stars
Education 2.5 Stars

Is XM Group Safe?

help 78
Trust Score

XM Group is considered averge-risk, with an overall Trust Score of 78 out of 99. XM Group is not publicly traded and does not operate a bank. XM Group is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). XM Group is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

FeatureXM Group
Year Founded2009
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses2
Tier-2 Licenses1
Tier-3 Licenses0
Trust Score78

Offering of Investments

The following table summarizes the different investment products available to XM Group clients.

FeatureXM Group
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs)57
CFDs - Total Offered1000
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

The commissions and fees at XM Group depend on the type of account. There are mainly three to choose from, including the commission-free Micro and Standard accounts, and the commission-based XM Zero Account. It's worth noting that there is also a fourth account type, the XM Ultra Low account, but it is not available at all the entities of the Group.

For example, in the XM Zero account, average spreads on the EUR/USD were listed as 0.1 pips (not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.

Even after including the USD $3.5 per side commission ($7 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 0.8 pips (0.1 spread + 0.7 RT commission), making the XM Zero account the firm’s most competitively priced offering.

It is worth noting that XM Group acts as the sole dealer (principal) in all trades it executes, and offers no re-quoting across all its account types in terms of the execution method as a market-maker/dealer. This allows it to offer lower spreads during certain market conditions. Accordingly, both account options are useful, depending on clients’ needs.

FeatureXM Group
Minimum Initial Deposit$5-100
Average Spread EUR/USD - Standard1.60
All-in Cost EUR/USD - Active0.80
Active Trader or VIP Discounts No

Platforms & Tools

XM Group is a MetaTrader-only broker offering the standard, out-of-the-box experience, including both MT4 and MT5. Unfortunately, there are no notable add-ons to help XM Group stand out among the best MetaTrader brokers.

Gallery

FeatureXM Group
Virtual Trading (Demo) Yes
Proprietary Platform No
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
cTrader No
Charting - Indicators / Studies (Total)51
Charting - Drawing Tools (Total)31
Charting - Trade From Chart Yes
Watchlists - Total Fields7
Order Type - Trailing Stop Yes

Research

XM Group’s research offering consists mostly of content generated by an in-house team of analysts, including daily market recaps and technical and fundamental analysis articles and videos. There is also an economic calendar powered by Investing.com.

In terms of manual trading signals, XM Group offers its trading signals hub to live account holders where users can access signals across ten instruments generated twice daily. Meanwhile, trading signals that can be automated are currently limited to the Signals Market available within the MetaTrader platform. For social copy trading, we found eToro and Pepperstone to have superior offerings.

Gallery

FeatureXM Group
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Social Trading / Copy-Trading Yes
Social Sentiment - Currency Pairs No
Economic Calendar Yes

Mobile Trading

Since XM Group is a MetaTrader-only broker, the iOS and Android versions of the MT4 and MT5 mobile apps come standard and are both available for download from the Apple iTunes store and Android Play store, respectively.

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FeatureXM Group
Android App Yes
Apple iOS App Yes
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting - Indicators / Studies30
Charting - Draw Trend Lines Yes
Charting - Trend Lines Moveable No
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave No
Forex Calendar No

Customer Service

For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.

Results

  • Average Connection Time: <1 minute
  • Average Net Promoter Score: 6.66 / 10
  • Average Professionalism Score: 5.2 / 10
  • Overall Score: 6.7 / 10
  • Ranking: 24th (43 brokers)

Final Thoughts

Traders looking for a regulated MetaTrader broker offering both MT4 and MT5 choose XM Group for its range of markets and competitive pricing on its Zero account.

Although XM Group offers over 1000 instruments, including 57 currency pairs and CFDs on five cryptocurrencies, the broker still trails behind brokers who offer several thousand instruments.

Compared to other MetaTrader brokers, XM Group didn’t receive a Best in Class award. All variables considered, XM Group ranks in line with the industry average.

About XM Group

Founded in 2009, XM group provides traders with the full MetaTrader platform suite by MetaQuotes Software Corporation. XM Group has evolved into an online multi-asset broker offering 57 currency pairs and 1000 CFDs. Five CFDs on cryptocurrencies are also offered covering Bitcoin, Dash, Ethereum, Litecoin and Ripple.

The XM brand (XM Group) is a group of online regulated brokers. The group’s first entity was founded in 2009 in Cyprus (regulated by CySEC under license 120/10) under the name Trading Point of Financial Instruments Ltd. In 2015, the group established an entity (ASIC-regulated, license number 443670) in Sydney, Australia, and the same year obtained regulatory status in London (FCA-regulated, license number 705428), under Trading Point of Financial Instruments UK Ltd. More recently, XM Global Limited was established in 2017 in Belize (regulated by the IFSC, with license number IFSC/60/354/TS/18).

2019 Review Methodology

For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers over a six month time period. Each broker was graded on 81 different variables and, in total, over 60,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.


Steven Hatzakis

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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