XM Group Review 2024: Pros & Cons
PayPal has become a popular funding option for many forex traders – find out which brokers support it as a payment method by reading our PayPal guide for forex traders. XM Group delivers an average spread of 1.6 when trading the EUR/USD within a standard account. The all-in cost of trading the EUR/USD with an active account is 0.8. We were able to obtain average spread data for over 30 brokers, and found the industry averages for these data points to be 1.04 (standard) and 0.87 (all-in). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs.
- If you want something more advanced, cTrader is another platform to consider but is not offered by as many brokers.
- There are a handful of tools and indicators which do not transfer over to the smaller screen but those that do ensure the mobile package is still of the highest quality.
- The right side of the screen shows some of the most common assets and their current spreads and prices.
- The new platform allows trading Forex symbols, stock instruments and futures.
- The client has the freedom to decide at which price they decide to buy or sell, and vice versa, and can execute a transaction at any time they wish.
You can view all trading conditions for each specific asset by visiting the asset class’s page. There, you will find minimum price fluctuations, starting point for spreads, swap values, average xm group spreads, and value of a lot. Trading on MT4 must meet the trade volume minimum of 0.01 lots, which is 0.1 lots on MT5. These clients can only have up to 200 positions open or pending at a time.
Yes, XM Group is regulated by reputable financial authorities in multiple jurisdictions, CySEC, ASIC, FSC and DFSA. Performance metrics are available to help you select providers that align with your investment goals. Some percentage of your copy trading profits goes to the strategy manager.
Underlying Assets
Traders can have confidence knowing that their investments are protected and that they are trading with a broker that operates under the supervision of respected regulatory bodies. The XM Market Overview section is dedicated to the latest market news, research and analysis. You can follow the latest market happenings and discover potential trading opportunities based on technical and fundamental analysis across multiple asset classes. I think it is great for finding trading signals and can save you hours by automatically scanning the markets on your behalf. It is also a great solution if you don’t have the knowledge or experience to decide which way the market is moving. There aren’t many brokers who offer Autochartist to you, although GO Markets do.
The Trustpilot Experience
Clients can have a maximum of 50 positions open and pending, and the lot restriction per ticket depends on the share. The XM Foundation page on the XM broker’s website includes recent news and initiatives from the foundation. These include specific donations made and the goals of those donations. The XM Foundation assists with development and access to vocational skills and education via initiating projects. It also provides international aid by working with international and local human aid foundations that are active. XM Group has a Trust Score of 88, compared to the industry average of 83, and BrokerNotes.co considers XM Group to be Trusted.
The information provided varies by asset class and can also include min and max trade size and margin percentage. All of this information is divided by account type, so you know where you stand for each specific asset. For XM Ultra Low Accounts, the leverage is identical, but spreads can be as low as 0.6 pips. There is no leverage on Shares Accounts and the spread is per the underlying exchange.
An Easy Process
Yes, based on your detected country of UA, you can open an account with this broker. In addition, a range of MT4 and MT5 Mobile applications for both Apple and Android Operating Systems seamlessly allow access to an account with full account functionality from a smartphone or tablet. XM Group is considered average-risk, with an overall Trust Score of 90 out of 99. Monday through Friday are the only days when these services are accessible. The spreads are variable and are displayed for information purposes.
Opening an account
From weekly webinars to comprehensive video suites and live analysis sections, traders of all expertise levels can benefit and enhance their trading acumen. Notably, their services extend to weekends too (excluding the EU-regulated entity). Our XM Group forex broker review team recommend you turn on push notifications (available on MT4 and MT5) to keep up to date with the latest market movements. While conducting this XM Group review our expert team found that you can gain free access to a VPS. All you need to do is maintain a minimum amount of 5,000 USD to use the XM Group VPS without charge. This lets you execute rapid trades without an internet connection to ensure you never miss out on the latest opportunities.
Sign up to our newsletter in order to receive our exclusive bonus offers and regular updates via email. XM does not have a crypto funding method, which is a bit of a let down considering that many traders have crypto wallets these days. If you are one of those traders, Axi can be a good alternative if you are looking for a broker with crypto funding. Don’t worry if you are not trading enough volume, you can still request the XM VPS in the Members Area for a $28 monthly fee. This is a very reasonable fee for a VPS, I pay around $30 for mine and it is fantastic for running automated systems around the clock. The VPS fee will be automatically deducted from your MT4 or MT5 accounts on the first day of each calendar month.
For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs. Personally, I have used MT4 for many years and never felt the need to switch over to MT5 just yet. I like that most brokers offer MT4 whereas MT5 is less commonplace. This means that I can test most brokers with a platform that I am already familiar with.
MT4’s razor sharp graphics are supported by a default offering of more than 50 indicators and charting tools. The MT5 platform has a slightly greater number of indicators set up as default than MT4. The 80+ indicators can be applied to a charts which can be set to a wide range of time frames and the ‘last market price’ monitor allows clients to see into the heart of the market they are trading. With over 1,200 markets on offer, XM provides a comprehensive service. It’s possible to get exposure to the far corners of the global financial markets.
I would always prefer to trade with a regulated broker as it gives me the peace of mind that my funds are safe. However, keep in mind that different regulators have different levels of protection. I consider regulators such as the FCA and ASIC to be top-tier when compared to other regulators such as those located offshore. What they advertise is what they give their clients, regardless of the size of their investment.
Traders interested in trading individual major market stocks should give XM serious consideration as a broker of choice. MetaTrader 4 is one of the most widely used trading platforms today. Not only are all pricing and movements transparent, but its user-friendly nature can potentially help to improve a trader’s performance. It should be mentioned that MetaTrader 4 offers both manual and automatic trading execution.