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XM.com provides the entire suite of MetaTrader platforms and competitive pricing on its XM Zero account offering through its entities regulated in major financial hubs, including the UK and Australia.

By Steven Hatzakis / April 4th, 2017 / Updated: January 8th, 2018

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Trust Score
Dislikes
  • Range of research tools limited
  • Single-stock CFDs available only on MT5
  • Higher spreads on Micro and Standard accounts

Review Sections:

Data:

Founded in 2009, XM.com has evolved into an online multi-asset broker offering nearly 300 trading instruments across six asset classes, including forex across its regulated entities in the EU and Australia.

The XM.com brand (XM Group) is the trading name of Trading Point Holdings Ltd (Trading Point Group) – owner of the firm’s FCA-regulated entity in the UK, with EU passports under the MiFID, CySEC-regulated entity in Cyprus, and its ASIC-regulated entity in Australia.

XM.com provides traders with the MetaQuotes Software Corporation software suite, and provides 139 instruments, including 57 currency pairs on MetaTrader4 (MT4) and 266 (including 163 CFDs on stocks) on the MetaTrader5 (MT5) trading platforms.

Commissions & Fees

The commissions and fees at XM depend on the type of account. There are three to choose from, including the commission-free Micro and Standard accounts, and the commission-based XM Zero Account.

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 $10 per Round Turn (RT) commission, and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 1.1 pips (0.1 spread + 1.0 RT commission), making the XM Zero account the firm’s most competitively priced offering.

View All FeesXMAxiTraderMarkets.comADS Securities
All-in Cost EUR/USD - Active1.1001.1402.000N/A
All-in Cost GBP/USD - Active1.4001.5502.000N/A
Average Spread EUR/USD - Standard1.7001.2402.000N/A
Average Spread GBP/USD - Standard2.3001.7302.000N/A
Currency Pairs (Total Forex pairs)57535557
CFDs - Total Offered209412002810
Commissions & Fees 4 Stars 4 Stars 2.5 Stars 3.5 Stars
Overall 3.5 Stars 3.5 Stars 3.5 Stars 4 Stars

It is worth noting that XM 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.

Research

XM’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.

XM research sentiment

The firm also provides six calculators, ranging from its all-in-one calculator to its pip value calculator, which can be useful when traders are planning or researching trading ideas. There is also an economic calendar powered by Investing.com.

In terms of manual trading signals, XM 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, after XM discontinued its prior social copy-trading offering of Tradency’s MirrorTrader platform, and ZuluTrade.

Overall, XM’s offering in the research department is light compared to other multi-asset brokers; the firm could enhance its offering by building further on what is otherwise a good foundation.

In terms of manual trading signals, XM offers its trading signals hub to live account holders where users can access signals across ten instruments generated twice daily.

Platforms & Tools

XM is a MetaTrader-only broker offering the standard, out-of-the-box experience. This means it offers the suite of platforms from MetaQuotes Software Corporation, developer of the popular MT4 and MT5 platforms for desktop, mobile, and web. Read our full MetaTrader guide.

While MetaTrader 4 and MetaTrader 5 come standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas.

XM MT4 desktop platform

Besides spreads, a wide range of instruments, and different account types, XM’s MT4 and MT5 platform setup and the default MetaTrader experience offer an MT4/MT5 installation file wrapped in Windows Emulator for MAC OS Installation.

Mobile Trading

Since XM 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.

Metatrader4 mobile charts

Other Notes

XM allows each client to hold up to 200 positions at a time, including pending orders. The firm also can fill up to 50 standard lots (five million units) at a time, for market, stop-loss, and limit orders, and offers phone broking to traders wanting to place trades. 

XM holds regular international seminars and workshops, which offer clients the opportunity to meet the firm’s representatives and find out more about the company’s offerings and signup opportunities.

Final Thoughts

Traders looking for a MetaTrader broker that is regulated in Australia, the UK, and Cyprus (and within the EU) choose XM for its competitive pricing across its account types and range of markets, with nearly 300 instruments, including 57 currency pairs.

Research is not XM’s strong point, and the company could benefit by enhancing its research facilities and social-trading platforms. However, it does offer traders access to MT4 and MT5 – allowing them to run automated trading systems with a multi-asset broker.

Because XM’s platform suite is limited to MetaTrader, it could also benefit by adding additional trading platforms (including a wider range of forex pairs and CFDs) or developing its own platform to broaden the firm’s reach as a multi-asset broker.

Methodology

For our 2017 Forex Broker Review we assessed, rated, and ranked 20 international forex brokers. Each FX broker was graded on 255 variables. Learn more.

Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to foreign exchange trading, 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 currency pair. 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.

View all XM Fees & Features
Steven Hatzakis

Reviewed by 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. Over the past 18 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

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Trading CFDs and FX involves a high degree of risk. All data was obtained from a published web site as of 4/05/2017 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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