XM Group includes 5 related companies.
XM AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
XM UK - located in the United Kindom, regulated by the Financial Conduct Authority (FCA).
XM CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
XM UAE - located in the United Arab Emirates, regulated by the Dubai Financial Services Authority (DFSA).
XM BZ - located in Belize, regulated by the International Financial Services Commission of Belize (IFSC).
Be aware, UK and CY companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
Unfortunately, AU company also has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, BZ company accepts European and Australian traders, so one can open a trading account there.
XM Group accepts clients from all over the world, excluding USA, Canada, Israel and Iran.
Forex broker offers the following underlying assets for trading.
|55+ Currency Pairs||Based on major and minor world currencies.|
|18 Indice Cash CFDs||Based on baskets of different blue-chip stocks.|
|12 Indice Futures||Based on baskets of different blue-chip stocks and US Dollar Index.|
|2 Metal Spot CFDs||Based on Gold and Silver.|
|3 Metal Futures||Based on Platinum, Palladium and Copper.|
|5 Energy Futures||Based on Crude Oil (WTI, Brent), Gas Oil and Natural Gas.|
|7 Soft Futures||Based on Cocoa, Coffee, Corn, Cotton, Soybeans, Sugar, Wheat.|
|700+ Stock CFDs||Based on shares of AU, CA, US, UK, EU, RU and BR companies.|
XM Group is an online brokerage for forex and CFD traders, originally established in 2009 under the registered business name Trading Point of Financial Instruments Ltd. The company is headquartered in Cyprus, and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 120/10. CySEC is a well-regarded regulatory agency under EU jurisdiction with long experience in dealing with retail-focused online brokerages and other financial institutions.
In addition to the Cyprus-registered entity that mainly serves EU-based clients, XM Group also has local branches that are registered and regulated in the UK, Belize, Australia, and Dubai.
The broker claims to have more than 1.5 million clients from 196 countries around the world, making them a big player in the forex trading space. The website is also offered in 23 languages, making it a convenient and easy broker to use for traders from all parts of the world. Further, the company has demonstrated that they are willing to go above and beyond to keep their clients satisfied by visiting over 120 cities to meet with traders and partners since it first launched almost a decade ago.
One thing that stands out with XM Group is that the broker has also made an effort to become one of the more transparent and trusted players in the forex and CFD trading world, automatically protecting all users against the possibility of getting a negative account balances, while also ensuring client funds of up to EUR 20,000 under the CySEC-mandated Investor Compensation Fund.
In terms of available markets to trade, XM Group also covers most traders’ needs, offering everything from forex to CFDs based on equity indices, individual shares, and commodities. The broker also used to offer certain cryptocurrency CFDs for trading, but these have recently been removed.
XM Group offers its traders three different account types to choose from when they first sign up; a Micro Account, a Standard Account, and an XM Zero Account. All account types offer similar leverage, but the XM Zero Account comes with commission-based trading and spreads as low as 0 pips. Meanwhile, the Micro and Standard accounts offer commission-free trading, but with slightly wider spreads starting from 1 pip. Which account type that offers the better deal therefore boils down to your trading style, how often you trade, and whether you trade large or small volumes.
When it comes to trading platforms, XM sticks with what works and what traders usually request, offering the classic MetaTrader 4 (MT4) and the upgraded MetaTrader 5 (MT5) in versions for PC, Mac, web, iPhone, Android, and tablet devices. MT4 is in many ways the benchmark for trading platforms in the world of forex, and comes with the extra benefit that it is extremely easy to switch between different brokers while staying on the same platform.
Lastly, XM Group’s customer service is open 24 hours a day on all trading days, with customer service agents available via live chat, phone, and email. As a global brand with operations all over the world, XM has representatives that speak an impressive 25 different languages, with local phone numbers in Cyprus, Australia, and Greece. As a result, we believe XM Group may be a broker that international traders will want to take a closer look at.