XM Group Broker Review


Bonus
$30 non-deposit Bonus up to $5,000 (t&c apply)
Minimum Deposit
$5
Regulators
ASIC, CySEC, FCA
EURUSD Spread
1.9 pips
US Traders
No
Founded
2009, 2015, 2016

  • XM Group is a group of regulated online brokers. Trading point of financial instruments Ltd was established in 2009 and it is regulated by the Cyprus securities and exchange commission (CYSEC120/10), Trading point of financial instruments Pty Ltd was established in 2015 and it is regulated by the Australian securities and investments commission (ASIC 443670) and Trading point of financial instruments UK Ltd was established in 2016 and it is regulated by the financial conduct authority (FCA 705428).

The broker has more than 250 financial instruments which can be traded on the MT4/MT5 platform and this includes Forex trading, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs, Energies CFDs and Cryptocurrencies CFDs.

XM Grup only accepts non-U.S. customers.

Features

The benefits of choosing this broker are clearly stated on the Home page of their website:

•    Licensed in the EU and Australia
•    Tight Spreads from 0 Pip
•    Flexible Leverage up to 1:30
•    Commission on Zero account type.
•    30% non-deposit bonus and up to $5,000
•    24 Hour Support
•    No Requotes
•    Fast and Easy Withdrawals
•    Personal Account Managers
•    Automated Trading
•    Phone Trading

Accounts

There is no minimum deposit requirement, and account setups fall into three categories:

•    Micro account: 1 micro lot is 1,000 units of the base currency
•    Standard account: 1 standard lot is 100,000 units of the base currency
•    Xm Zero account: 1 standard lot is 100,000 units of the base currency

XM Group also offers customized forex Islamic accounts, designed to support Muslim traders with swap free options with no interest charged for overnight positions in full compliance with Shariah Law.  Their bonus and loyalty program is another unique drawing card, allowing for a 30% initial deposit bonus (up to a limit of $2,000) and a 10% loyalty bonus on all subsequent deposits.

Transactions

Formed by a team of ex-interbank dealers, the firm does its utmost to provide you with the best execution possible.  Just click and trade up to $2 million per time.  There are guaranteed fills on take profit and stop loss orders, and phone orders can be given to a 24-hour dealing room via customer support. XM Group accepts the most commonly used Local payments methods today including Credit/Debit card, Neteller, Skrill, Bank wire transfer, etc.

Platform

With XM Groupyou will have the ability to practice and trade forex online via the multi award winning platform, Metatrader 4 (MT4) and MT5 with limitless forex demo and real accounts with the ability to use and back test any expert advisors (Forex EA) you may have.

XM Group has now launched 6 more platforms which include Webtrader, Android, Blackberry, Ipad, Iphone

Support

Open and uninterrupted Forex trading hours are from 22:05 GMT Sunday to 22:00 GMT Friday.  During these times the platform is fully tradable and the dealing desk is open. Furthermore there is a 24-hour customer support desk on hand to help you with any platform related issues.

Information

Education and support materials are in abundance, and customer service reps via live chat sessions will guide you through any processes that require further assistance.  Currency trading, as well as dealing in precious metals or oil, are covered, and Forex news alerts are constantly updated.

Safety

XM Group is a registered and licensed forex broker in the Republic of Cyprus, a Eurozone member, and regulated by the Cyprus Securities & Exchange Commission (CySEC).  As a member of the Eurozone, the company also complies with EU regulations and is registered with the FSA UK and ASIC in Australia. To provide security, all information exchanged is encrypted by 128-bit keys.  Such a solution guarantees safekeeping of information transferred and minimizes the possibility of third party access.

Overall

XM Group is a relative newcomer to the forex broker community, but the staff at the firm is committed to satisfying your every need with integrity, transparency, and the determination to serve you well.  Testimonials attest that service quality remains consistent both before and after you sign on with this company.