- High regulation from CySEC, FCA and ASIC.
- 1,000+ tradable assets across Forex, Stocks, Indices, Commodities, Metals and Energies.
- Low CFD
- Zero Fees on Deposits and Withdrawals
- Great educational and research service with daily interactive live trading rooms.
- More than 30 languages supported
- Traders from 196 countries
- Free VPS Services
- Platforms: MetaTrader 4, MetaTrader 5
Is XM safe or a scam?
|Assets||Fee level||Fee terms|
|SP 500 CFD||Low||The fees are built into spread, 0.7 is the average spread cost.|
|Europe 50 CFD||Low||The fees are built into spread, 2.6 is the average spread cost.|
|EURUSD||Average||With standard and micro accounts the fees are built into spread, 1.7 pips is the spread cost. With XM Zero accounts, there is $3.5 commission per $100 000 traded and average spread is 0.1 pips.|
|Inactivity fee||Low||Inactivity fee of $5 / month after 90 days. if balance reaches $0 account is archived.|
In the sections below, you will find the most relevant fees of XM for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.
We also compared XMs fees with those of two similar brokers we selected, XTB and eToro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of XM alternatives.
To have a clear overview of XM, lets start with the trading fees.
XM trading fees
XM trading fees are low.
The Standard and Micro accounts charge higher spreads but there is no commission. The XM Zero account charges lower spreads, but there is a commission. The following calculations were made using the Standard account.
We know its hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compared brokers by calculating all the fees of a typical trade for selected products.
We chose popular instruments within each asset class:
- Stock index CFDs: SPX and EUSTX50
- Stock CFDs: Apple and Vodafone
- Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
A typical trade means buying a leveraged position, holding it for one week and then selling. For volume, we chose a $2,000 position for stock index and stock CFDs, and $20,000 for forex transactions. The leverage we used was:
- 20:1 for stock index CFDs
- 5:1 for stock CFDs
- 30:1 for forex
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Lets see the verdict for XM fees.
XM has generally low CFD trading fees. Compared to its competitors, they are about the same or lower.
|SP 500 index CFD fee||$2.4||$2.0||$2.4|
|Europe 50 index CFD fee||$2.4||$2.2||$2.7|
|Apple CFD fee||$3.4||$17.9||$6.3|
|Vodafone CFD fee||$5.6||$20.9||-|
XMs forex fees are average compared to its competitors.
|EURUSD benchmark fee||$17.1||$15.0||$19.6|
|GBPUSD benchmark fee||$13.8||$11.1||$16.2|
|AUDUSD benchmark fee||$13.9||$10.0||$12.4|
|EURCHF benchmark fee||$9.1||$6.6||$11.8|
|EURGBP benchmark fee||$12.2||$9.9||$19.9|
Real stock fees
Non-European clients can also trade real stocks using the Share account. Commission fees depend on which stock market you trade on.
XM has a great mobile trading platform, offered by MetaTrader 4. It is a well-designed and user-friendly platform with a good search function. However, Touch/Face ID login is not supported.
As a result of being a MetaTrader only platform, you will able to utilise the platforms on iOS and Android devices, whether it is through the MT4 or Mt5 apps which can be downloaded straight away from either the App Store or the Android Play store.
MT4 and MT5 apps offering great charting with 3 Chart Types, over 30 technical indicators in its package and full trading history journal
We really liked its design and user-friendliness. You will easily find all the features.
XM’s minimum deposit amount is only 5$ allowing to open either a Micro Account or a Standard account or a XM Zero or a XM Ultra Low account.
*XM Zero and XM Ultra Low accounts are not available to all the entities of XM Group.
A bank transfer can take several business days, while payment with a credit/debit card is instant.
You can only deposit money from accounts that are in your name.
XM withdrawal fees and options
XM charges no withdrawal fees. In the only exception, bank (wire) transfers below $200 incur a $15 fee.For credit/debit cards and electronic wallets, the withdrawal amount cant exceed the amount you deposited using the same instrument. Therefore, your trading profits can be withdrawn only via bank transfer.