XM Review 2024 | Is XM a Scam or Legit Forex Broker?

XM Review and Analysis

Overview

XM is a CySEC, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.

Investor Protection & Regulations

XM is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the International Financial Services Commission of Belize (IFSC), offering segregated client funds and negative balance protection.

Tradeable Products

XM offers clients more than 1,000+ tradable assets to trade on, across Forex, Stocks, Indices, Commodities, Metals and Energies via Spot, Futures and CFD products.

Fees and Commissions

Trading costs with XM vary depending on the account type and market being traded. The XM Standard Account and XM Micro Account offer commission-free trading with costs deriving from spreads and overnight swaps. The XM Zero Account offers commission-based trading with lower spreads.

Trading Platform

XM traders have access to the globally-recognised MetaTrader 4 and MetaTrader 5 trading platforms, accessible on PC, Mac and Web.XM offers traders the ability to trade on the MetaTrader 4 and MetaTrader 5 mobile trading apps for iOS and Android operating systems, as well as tablets. The broker also offers the XM Trading App which allows users to manage their MT4 and MT4 accounts.

Account Types

XM offers 4 different types of trading accounts globally across different regulatory jurisdictions, with each account offering unique features and benefits for beginner and advanced traders.

Deposit and withdrawal

Uniquely, XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Moneybookers and all major credit cards including Visa, Electron, MasterCard, Maestro and China UnionPay, with instant account funding.

Usability

XM offers a wide variety of trading accounts giving a unique and flexible offering to trade on more than 1,000+ tradable assets across both MetaTrader 4 and MetaTrader 4 for PC, Mac, Web, iOS and Android. The broker also offers an impressive range of research and educational tools suitable for both beginner and advanced traders.

Customer Support

XM offers 24 hours a day, Monday to Friday, customer support via Live Chat, Email, Online Contact Form and Phone on more than 25 different languages.

Education and Research

XM offers an impressive suite of unique educational products include Forex seminars, educational videos, webinars, platform tutorials and live daily interactive education rooms.

Overall Conclusion – Final Thoughts

XM offers 4 different trading account types with the choice of commission-free, or commission-based trading on more than 1,000+ tradable asset classes across Forex CFDs, Stocks CFDs, Indices CFDs, Commodities CFDs,Precious Metals CFDs and Energies CFDs. Traders can use the globally recognised MetaTrader platforms and enjoy access to an impressive research and education section.