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XM Group Review

Steven Hatzakis

Steven Hatzakis | August 17th, 2021

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.29% 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 struggles to stack up against industry leaders, in terms of its platform offering, range of markets, and pricing, XM Group provides an outstanding offering of quality educational content and market research.

Top Takeaways for 2021

Here are our top findings on XM Group:

  • Founded in 2009, XM Group is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (average-risk) for trading forex and CFDs.
  • XM Group is a Best in Class MetaTrader broker in 2021, that offers the complete MetaTrader suite, along with a few notable upgrades to enhance the experience, in addition to custom indicators. Besides Social Copy Trading, where XM Group finished Best in Class (7th Place), XM Group’s research offering is rich with depth and variety, challenging industry leaders such as IG and Saxo Bank.
  • Pricing at XM Group varies by account type. Overall, the broker is not a stand out for low-cost trading when compared to pricing leaders such as CMC Markets and IG.

Overall Summary

FeatureXM Group
Overall 4 Stars
Trust Score84
Offering of Investments 4 Stars
Commissions & Fees 4 Stars
Platforms & Tools 4 Stars
Research 4.5 Stars
Mobile Trading 4 Stars
Education 4.5 Stars

Is XM Group Safe?

help 84
Trust Score

XM Group is considered averge-risk, with an overall Trust Score of 84 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 one tier-3 regulator (low trust). XM Group is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and, via its parent company's other brand, with 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 Licenses2
Tier-3 Licenses1
Trust Score84

Tier-1 Licenses

FeatureXM Group
ASIC Authorised (Australia) Yes
IIROC Authorised (Canada) No
SFC Authorised (Hong Kong) No
FSA Authorised (Japan) No
MAS Authorised (Singapore) No
FINMA Authorised (Switzerland) No
FCA Authorised (UK) Yes
CFTC Registered (USA) No

Offering of Investments

Rank: 14th

Through its various brands, XM offers traders a total of 1,230 CFDs across multiple asset classes, including forex, along with 100 exchange-traded securities (non-CFDs). The following table summarizes the different investment products available to XM Group clients.

XM Group offering of investments:

FeatureXM Group
Forex Trading Yes
CFD Trading Yes
Tradeable Symbols (Total) 1372
Forex Pairs (Total)57
US Stock Trading (Non CFD) Yes
Int'l Stock Trading (Non CFD) Yes
Cryptocurrency (Physical) No
Cryptocurrency (CFD) No
Social Trading / Copy-Trading Yes

Commissions and Fees

Rank: 10th

Traders who need instant execution will appreciate no requotes or rejections with XM’s Zero account, compared to market execution offered by other agency-only brokers. That said, XM Group still trails the best forex brokers when it comes to its pricing for budget and active traders.

Account options: The commissions and fees at XM Group depend on the type of account and which global entity you choose. There are four primary accounts. While the commission-free Micro and Standard accounts are expensive, the commission-based XM Zero account is more competitive, followed by the XM Ultra Low account. Note: both the XM Zero and XM Ultra Low accounts are not available across all XM entities.

Spreads and commissions: In the commission-based XM Zero account, average spreads on the EUR/USD stands at 0.1 pips (according to XM Group website data), making the effective spread 0.8 pips after including the $7 per round-trip commission. The Standard and Micro accounts have average spreads of 1.6 to 1.7 pips for the same pair and are comparably less attractive options at XM Group.

Execution method: XM Group acts as the sole dealer (principal market-maker) in all trades it executes. This execution method allows XM Group to provide execution for up to $50 million worth of currency at a time and permits up to 200 simultaneous open positions which is reasonable compared to peers.

Shares trading: Forex and CFDs aside, XM Group provides a Shares account that requires a $10,000 deposit and is for investors who want to trade shares directly (non-CFD) with no leverage. This account is not available at all the entities of the Group.


XM Group pricing summary:

FeatureXM Group
Minimum Deposit$5-100
Average Spread EUR/USD - Standard1.6 (Aug 2020)
All-in Cost EUR/USD - Active0.8 (Aug 2021)
Active Trader or VIP Discounts No
Execution: Agency Broker No
Execution: Market Maker Yes

Platforms and Tools

Rank: 20th

Offering the full MetaTrader suite (MT4, MT5) with additional platform add-ons is a crucial distinction among the best MetaTrader brokers. XM Group checks these boxes, offering the full MT suite alongside multiple proprietary indicators, such as the Rivers indicator developed by its in-house staff.


XM Group trading platform:

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
DupliTrade No
ZuluTrade No
Charting - Indicators / Studies (Total)51
Charting - Drawing Tools (Total)31
Charting - Trade From Chart Yes
Watchlists - Total Fields7
Order Type - Trailing Stop Yes


Rank: 9th

XM Group’s XM TV is a winner, delivering excellent daily in-house market commentary that competes with industry leaders in video including IG, Saxo Bank, and CMC Markets. And, while market research is found primarily outside of MT4, XM Group offers a comprehensive and quality package that will satisfy most traders.

XM TV: XM Group has done a great job creating daily forex news videos with market analysis explained in a TV interview-style format. The audio from these videos is also uploaded as a podcast to syndicate the content across media formats.

Articles: Video aside, the News section on the XM Group’s website allows filtering content by asset classes, making it easier to find articles about forex, indices, stocks, and cryptocurrencies. It is easy to appreciate the scope of research content with XM Group, thanks to quality daily market recaps alongside technical and fundamental analysis articles.

Trading signals: XM Group offers its Trade Ideas and Technical Summaries hub to live account holders, with signals streaming from Autochartist and Analyzzer. The broker also provides trading ideas (shares only) from Trading Central. In addition to the MetaTrader signals market, which allows automated trade copying, XM Group supports social copy trading from compatible expert advisors developed by Analyzzer.

Accessibility: Given that the trading platforms are segmented away from the research, XM is at a slight disadvantage when compared to the best forex brokers for research. For comparison, Saxo Bank, IG, and CMC Markets integrate research features into their platforms.


XM Group research:

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


Rank: 4th

XM Group offers a high quality, diverse selection of educational content. For example, the in-house video collection, Tradepedia, is a great collection for beginners to reference. No question, XM Group holds its own against education leaders such as FXCM, IG, and Saxo Bank.

Tradepedia: XM Group offers Tradepedia, an in-house video course that provides educational Forex and CFD content. I found the series useful with 39 videos across seven chapters with good quality coverage for beginner and advanced video content.

For example, the course instructor demonstrates how to use some of the firm’s proprietary indicators, such as the Avramis River indicator. The video had multiple examples to help users interpret this particular study in different market conditions.

Webinars: With 49 webinar instructors covering 19 languages throughout the week, XM Group has extensive coverage of time-zones and a detailed schedule organized by experience level for traders to subscribe.

Articles: There are a series of 53 written articles that are organized in a progressive format across six chapters covering 13 lessons regarding forex, starting with basics, and ending with advanced subjects. Pros aside, XM Group should consider adding CFD education for other asset classes to further enhance its educational coverage.


XM Group education:

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

Mobile Trading

Rank: 20th

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. With no proprietary mobile app available, XM Group trails the industry leaders in this category, such as IG, and Saxo Bank.


XM Group mobile trading:

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

Final Thoughts

As a vanilla MetaTrader broker, XM Group offers over 1300 instruments, including 57 currency pairs, yet trails behind the best forex brokers who offer many thousands of tradeable symbols. Meanwhile, while XM Group’s pricing on commission-based accounts is close to the industry average, its Standard account spreads are expensive.

Drawbacks aside, XM Group provides traders excellent research and education, making it a strong choice for beginners and traders who appreciate quality market research.

About XM Group

XM Group consists of multiple entities that use the XM brand and hold regulatory status in various jurisdictions. The Group’s first entity was founded in 2009 in Cyprus and is regulated by CySEC (license 120/10) under the name Trading Point of Financial Instruments Ltd.

In 2015, the Group established an entity in Sydney, Australia, regulated by ASIC (license number 443670). In the United Kingdom (UK), XM's parent company Trading Point of Financial Instruments UK Ltd holds regulatory status for its brand in London (license number 705428). Finally, in 2017 XM Global Limited obtained regulatory status in Belize, where it is regulated by the IFSC (license number 000261/158).

2021 Review Methodology

For our 2021 Forex Broker Review we assessed, rated, and ranked 27 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 108 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure (read about Trust Score here).

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with 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 is the Global Director of Research for 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 involve 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 website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The 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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