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Overall

XM Group provides the entire suite of MetaTrader platforms and competitive pricing for forex and over 1000 CFD instruments, including on cryptocurrencies, through its regulated entities in the EU and Australia.

Steven Hatzakis | July 12th, 2019

help 78
Trust Score
Dislikes
  • Single-stock CFDs only available on MT5
  • Higher spreads on Micro and Standard accounts

Review Sections:

Please Note: XM Group was not included in the 2019 annual review. As a result, this broker's ratings may be outdated. Read our Best Forex Brokers 2019 guide for a look at the top rated forex and CFDs brokers.

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).

Is XM Group Safe?

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 GroupIGSaxo BankCMC Markets
Year Founded2009197419921989
Publicly Traded (Listed) No Yes No Yes
Bank No Yes Yes No
Tier-1 Licenses2664
Tier-2 Licenses1412
Tier-3 Licenses0000
Trust Score78999898

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

FeatureXM GroupIGSaxo BankCMC Markets
Forex: Spot Trading Yes Yes Yes Yes
Currency Pairs (Total Forex pairs)5791182183
CFDs - Total Offered100015000329999959
Cryptocurrency traded as actual No No No No
Cryptocurrency traded as CFD Yes Yes No Yes
Offering of Investments 3.5 Stars 4.5 Stars 4.5 Stars 4 Stars

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 GroupIGSaxo BankCMC Markets
Minimum Initial Deposit$5-100£250.00$2,000.00$0.00
Average Spread EUR/USD - Standard1.600.7500.9000.744
All-in Cost EUR/USD - Active0.800.3630.6000.744
Active Trader or VIP Discounts No Yes Yes Yes
Commissions & Fees 4 Stars 4.5 Stars 4.5 Stars 5 Stars

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)

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.

XM research

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

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.

Compared to our review last year, XM Group has expanded its research offering with the addition of more in-house analysts covering markets with technical and fundamental analysis.

Overall, XM Group’s research offering is above the industry standard and the broker finished 18th out of 43 brokers in our 2018 Review.

FeatureXM GroupIGSaxo BankCMC Markets
Daily Market Commentary Yes Yes Yes Yes
Forex News (Top-Tier Sources) Yes Yes Yes Yes
Weekly Webinars Yes Yes Yes Yes
AutoChartist No Yes Yes No
Trading Central (Recognia) No No No Yes
Delkos Research No No No No
Social Trading / Copy-Trading Yes Yes Yes Yes
Social Sentiment - Currency Pairs No Yes Yes Yes
Economic Calendar Yes Yes Yes Yes
Research 3.5 Stars 4.5 Stars 4.5 Stars 4.5 Stars

Platforms & Tools

XM Group 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 Group’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.

FeatureXM GroupIGSaxo BankCMC Markets
Virtual Trading (Demo) Yes Yes Yes Yes
Proprietary Platform No Yes Yes Yes
Desktop Platform (Windows) Yes Yes Yes Yes
Web Platform Yes Yes Yes Yes
Social Trading / Copy-Trading Yes Yes Yes Yes
MetaTrader 4 (MT4) Yes Yes No Yes
MetaTrader 5 (MT5) Yes No No No
cTrader No No No No
Charting - Indicators / Studies (Total)51224781
Charting - Drawing Tools (Total)31171724
Charting - Trade From Chart Yes Yes Yes Yes
Watchlists - Total Fields712128
Order Type - Trailing Stop Yes Yes Yes Yes
Platform & Tools 3 Stars 4.5 Stars 4.5 Stars 4.5 Stars

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.

Metatrader4 mobile charts

FeatureXM GroupIGSaxo BankCMC Markets
Android App Yes Yes Yes Yes
Apple iOS App Yes Yes Yes Yes
Trading - Forex Yes Yes Yes Yes
Trading - CFDs Yes Yes Yes Yes
Alerts - Basic Fields Yes Yes Yes Yes
Watch List Yes Yes Yes Yes
Watch List Syncing Yes Yes Yes Yes
Charting - Indicators / Studies30264123
Charting - Draw Trend Lines Yes Yes Yes Yes
Charting - Trend Lines Moveable No Yes Yes Yes
Charting - Multiple Time Frames Yes Yes Yes Yes
Charting - Drawings Autosave No Yes Yes Yes
Forex Calendar No Yes Yes Yes
Mobile Trading 3.5 Stars 4 Stars 4.5 Stars 4 Stars

Other Notes

XM Group 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 Group 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.

In 2017, XM Group launched CFDs on major cryptocurrencies including Bitcoin (BTCUSD), Bitcoin Cash (BCHUSD), Ethereum (ETHUSD), Litecoin (LTCUSD) and Ripple (XRPUSD), offering investors and traders the ability to gain exposure to digital assets without owning the underlying.

XM Group’s crypto offering includes no leverage (100% margin) with a max trade size capped at 1 Bitcoin and a minimum trade size of 0.1 Bitcoin.

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 and finished 24th out of 43 brokers in our 2018 Review.

Methodology

For our 2018 Forex Broker Review we assessed, rated, and ranked 43 international forex brokers. Each FX broker was graded on 140 variables. Learn more.

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.

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Ratings Overall

Summary

Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Education

Commissions & Fees

*XM Group did not participate in the 2017 Online Broker Review, as a result the following data may not be up to date.

Commission Notes

XM Group mainly offers three account types – the commission-free Micro and Standard accounts, and the commission-based XM Zero account, all of which can be used with either the MT4 or MT5 platforms.

While the Micro and Standard accounts are commission free, the XM Zero account has a per-trade commission as outlined below:

Micro and Standard account:

  • The Micro and Standard accounts are nearly identical except for the default lot size in the Micro account, where one lot equals 1,000 units (1 micro contract); the Standard account has a default lot size of 100,000 units or 1 standard lot. These accounts can be denominated in 11 currencies and opened with $5.
  • XM Zero Account:

  • The XM Zero account charges $3.5 per side ($7 round-turn) per 100k units (1 standard lot), and this account can be denominated in either EUR, USD, or JPY and opened with as little as $100. It is worth noting that this account has one less currency pair available, as USD/CNH is disabled and only available in the other two account types.

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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