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XM Group review and ratings

Established 2009
Location Australia Cyprus Belize
Regulation ASIC, CySEC, IFSC
Offices Sydney, Limassol, Belize City
Broker type MM
Leverage up to 1:880
Deposit from 5 USD
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5
Instruments Currencies Crypto Indices Metals Energies Softs Stocks
Funding methods Wire Transfer Credit Cards Skrill Neteller WebMoney Yandex Money Qiwi

Company information

XM Group includes 3 related companies.

XM AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
XM CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
XM BZ - located in Belize, regulated by the International Financial Services Commission of Belize (IFSC).

Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, BZ company accepts European traders, so one can open a trading account there.

Availability

XM Group accepts clients from all over the world, excluding USA, Canada, Israel and Iran.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

55+ Currency Pairs Based on major and minor world currencies.
5 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
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, US, UK, EU and RU companies.

Comprehensive review

XM Group is a global forex & CFD brokerage company that has been operating in the industry since 2009, and currently has offices in Australia and Cyprus, as well as an offshore branch registered in Belize. Each of the three entities are regulated in their respective jurisdictions, although the Belize-based entity differs in the way that it is subject to much more relaxed regulations than the other offices. As a result, this is also where the highest trading leverage of 1:888 is available.

Although the normal procedure for forex brokers is to sign new traders up with the entity that covers the region they live in, it is known that EU-based traders can circumvent strict EU regulations by signing up directly with the Belize-based entity of XM Group. By doing this, even European traders can get access to the much higher trading leverage available offshore, although it could be argued that this practice is in a regulatory grey area.

The instruments that can be traded on XM Group includes everything from forex to cryptocurrencies, commodities, stock indices and single stocks, with large selections of instruments within each asset class. In this way, the selection of trading instruments available from XM Group far exceeds what most other brokers offer, particularly when it comes to stocks, which XM offers more than 700 of.

All of the instruments available from the broker can be traded on either the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. As usual, both platforms are offered in versions for Windows, Mac, iPhone and Android, as well as in a web-based version.

When it comes to the types of trading accounts new clients can choose from with XM Group, the choice is between the four following accounts:
– Micro Account, with commission-free trading and a minimum deposit of USD 5
– Standard Account, with commission-free trading, spreads from 1 pip, and a minimum deposit of USD 5
– XM Ultra Low Account, with commission-free trading, spreads from 0.6 pips, and a minimum deposit of USD 50
– Shares Account for trading in stocks, with a minimum deposit of USD 10,000 and commissions from USD 1 to 9 per transaction

Once a trading account has been opened, it is time to fund it. For this, XM Group supports a variety of funding methods, including major payment cards, bank transfers, and popular e-wallet services like WebMoney, Qiwi, Yandex Money, Skrill and Neteller. Fortunately, XM does not charge any fees for processing payments, whether it is for a deposit or withdrawal.

Lastly, XM’s customer service can be reached via phone, live chat, or email, open 24 hours a day from Monday to Friday. Despite being highly important in our view, 24 hour customer service is actually not that common among offshore-based forex brokers. We therefore appreciate that XM has taken the extra effort to offer this to its clients.

In conclusion, we have the impression that XM - after well over a decade in the industry - is a player that has established a pretty good reputation among forex traders. It is also a good sign of credibility that the broker is regulated in strong jurisdictions like Australia and Cyprus (EU), given that clients then will have a credible government agency to turn to in the event of a dispute with this broker.

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