XM Review 2024: Is XM a Trusted Broker?

What Is XM?

XM is a multi-regulated forex and CFD broker offering access to over 1,400 financial instruments. The company operates under several entities globally, providing a wide range of services to both novice and experienced traders. We found that XM's key focus is on a user-friendly experience, offering a variety of trading tools and educational resources.

The broker provides a range of assets, including:

• Forex: Over 55 currency pairs.
• Stocks: More than 1,200 CFDs on stocks.
• Indices: CFDs on major global indices.
• Commodities: A selection of soft commodities like coffee and other raw materials.
• Precious Metals: Gold and other metals.

When it comes to platforms, XM provides the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5), along with its proprietary XM App. This gives traders the flexibility to access the markets from various devices, including desktop, web, and mobile. The broker emphasizes fast and fair trade execution, claiming no requotes or rejections on trades.

For a clearer understanding of the costs, XM offers a variety of account types with different fee structures. Spreads on the Zero account can start from as low as 0.0 pips on major forex pairs, although this account includes a commission. For other accounts, like the Ultra Low Standard, we found spreads as low as 0.8 pips with zero commission. This tiered cost structure allows traders to choose an account that aligns with their trading style and capital.

XM Pros & Cons

Based on our analysis, we have compiled a balanced view of XM's strengths and weaknesses.

FAQs about XM Login

• How do I log in to my XM account?
• To log in to your XM trading account, you need the login ID (which is your MT4/MT5 account number) and the password you created during registration. You can access your account through the MT4/MT5 platforms or the XM Members Area on the website or app. We confirmed that the same credentials work for both the trading platforms and the Members Area, which simplifies the process.
• What should I do if I forget my XM password?
• If you forget your password, you can reset it through the XM Members Area. We found that the process is straightforward: simply click the “Forgot password” link and follow the on-screen instructions to create a new one. Your login ID remains the same.
• Can I trade with my demo account credentials?
• No. Your demo account has a separate login ID and password. When you open a real account, you receive a new login ID. You must use the correct credentials for each account type to log in successfully.

What Traders Are Saying

• “The trading platform is fast and reliable. I've been using the XM App and it's very easy to navigate, even for someone who's not a tech expert. The customer support team is also very responsive.”
• “I appreciate the low minimum deposit. It allowed me to start trading with a small amount of money and get a feel for the market without a huge financial commitment. I've had a few issues with spreads during volatile times, but it's generally manageable.”
• “I've found the bonuses to be a bit misleading. While they give you extra trading capital, the terms around withdrawals can be complex. I had to read the fine print carefully, and it's not as simple as it seems.”

Risk Warning: The provided regulatory information for this broker indicates supervision by multiple authorities, including ASIC, CySEC, FSC, and the DFSA. It is critical for every trader to verify the specific entity they are dealing with and understand the level of investor protection offered by the relevant regulator. Trading leveraged products carries a significant risk of capital loss and may not be suitable for all investors. You should not invest more than you can afford to lose.