XM trading platform is one of the famous Forex and CFD platforms, attracting the attention of many investors globally. However, the question is: “Is XM really reputable?”. To answer this problem, investors need to consider many factors such as operating license, service quality, trading products, user experience,… This article from TraderForex will provide Detailed reviews to help you better understand XM’s reputation.
What is XM?
XM is the world’s leading foreign exchange broker established in 2009. With a team of experienced financial experts, XM has affirmed its leading position in the market, providing a professional and safe trading experience. for global investors.
Diverse investment opportunities with more than 1,000 trading instruments including currency pairs, indices, commodities and cryptocurrencies, giving users easy access to international financial markets. After more than 14 years of operation, XM has served more than 10 million customers from 190 countries, proving the reliability and reputation of the XM.
Basic information:
| License | CySEC, ASIC and IFSC |
| Head office | Suite 404, Belize |
| Year of establishment | 2009 |
| Trading products | 60+ currency pairs, 1000+ CFDs, stocks, commodities, cryptocurrencies |
| Fee | From 0.6pip |
| Leverage | 1:888 |
| Minimum deposit | 5$ |
| Promotion | Bonus $30, free VPS, 0% deposit and withdrawal fees,… |
| Trading platform | MT4/MT5, Website, Android & IOS phone app |
| Mobile application | XM Mobile App |
| Deposit money | Internet Banking, Neteller, Ngân Lượng, Skrill and Visa |
Operating license
To ensure transparent business operations and maximum protection of customer interests, XM has been operating under the strict supervision of the world’s leading financial management agencies. With 4 prestigious licenses from CySEC (Cyprus), FSC (Belize), ASIC (Australia) and DFSA (Dubai), XM affirms its position as one of the safe and reliable forex trading platforms in the market. .
The presence of these licenses means that XM must strictly comply with regulations on charter capital, financial reporting, information security and many other standards. This is to provide investors with a fair and transparent trading environment.
Outstanding achievements
Throughout the years, XM has received awards, confirming its position as a leading provider of CFDs, cryptocurrencies and FX services. Typical awards such as “Best CFD Provider”, “Best Cryptocurrency CFDs”, “Best Customer Support” and “Best Trading Experience”,… This achievement has demonstrates XM’s outstanding service quality and commitment to continuous improvement to bring customers the best trading experience.
Reputation and security
XM is committed to providing customers with a safe and transparent trading environment. The “Negative balance protection” and “account segregation” policies are clear demonstrations of this commitment. User funds will be kept in a separate account, completely independent of the company’s capital. This ensures assets are always protected, even when unexpected situations arise.
In the worst case scenario, CySEC’s compensation fund will support investors with compensation of up to 20,000 Euro. XM always maintains large reserve capital to ensure solvency and meet all customer requirements.
In addition, XM’s financial reports are periodically audited by many independent auditing companies, ensuring transparency and reliability. Thanks to that, you can focus on making the right investment decisions without having to worry about the risk of losing capital.
XM trading products
XM offers investors a diverse treasury of products, from familiar currency pairs to emerging asset classes. With just one account, you can freely trade on many different markets:
- Foreign Exchange (Forex): Immerse yourself in the world of currencies with more than 50 currency pairs, from major pairs like EUR/USD, USD/JPY to minor and rare pairs.
- Cryptocurrency: Invest in the future with digital currencies that are “storming” the market such as Bitcoin, Ethereum, Solana,…
- Stock CFDs: Dominate the world’s large and small stock markets with more than 1,180 stock codes.
- Commodities: Diversify investment portfolio with agricultural products and energy such as coffee, gold, crude oil,…
- Stock indices: Track and trade the world’s leading stock indices such as S&P 500, Dow Jones,…
- Precious Metals: Trade with two traditional precious metals, gold and silver.
- Oil and gas: Enter the volatile energy market.
- Stocks: Directly own stocks of many companies listed on major exchanges.
Types of accounts on XM
XM offers a variety of trading accounts to meet the diverse needs of investors, from beginners to experts. Each account type has unique characteristics, helping users choose the account type that best suits their trading style.
Compare account types:
| Account type | Micro | Standard | Ultra Low | Shares |
| Base currency | USD, GBP, JPY, AUD, HUF, SGD, ZAR | USD, EUR, JPY, CHF, HUF, PLN, SGD, ZAR | EUR, USD, GBP, AUD, ZAR, SGD | USD |
| Contract volume | 1 Lot = 1.000 | 1 Lot = 100.00 | Standard Ultra: 1 Lot = 100.000 Micro Ultra: 1 Lot = 1.000 | 1 share |
| Maximum leverage | 1:1000 | 1:1000 | 1:1000 | No leverage |
| Protect your account balance | Yes | Yes | Yes | Yes |
| Spread | From just 1pip | From just 1pip | From just 0.6 pips | Depending on the base exchange rate |
| Commission | 0 | 0 | 0 | Yes |
| Maximum number of open orders | 300 orders | 300 orders | 300 orders | 50 orders |
| Minimum lot | 0.1 lot | 0.01 lot | 0.01 – 0,1 lot | 1 lot |
| Swap | Yes | Yes | Yes | Yes |
| Commission fee | No | No | No | Yes |
| Minimum deposit | 5$ | 5$ | 5$ | 10.000$ |
Micro account
Micro accounts are the ideal choice for beginner investors. Similar to FBS and Cent accounts, Micro allows users to start trading with a small amount of capital, minimizing risks. Outstanding features of Micro account:
- Super small transaction size: With 1 lot only equivalent to 1000 currency units (compared to 100,000 units of a standard lot), you have complete control over the investment amount for each transaction.
- Low starting investment capital: With just 5 USD, you can open an account and start experiencing real trading.
- Reasonable trading costs: Spreads are fixed at 1 pip and there are no commission fees, helping to save on trading costs.
- Flexible order volume: You can place orders with a minimum volume of 0.01 lot (MT4) or 0.1 lot (MT5), suitable for all trading strategies.
- Large number of open orders: Maximum 200 open or pending orders to help diversify your investment portfolio.
- Trading bonus: Receive an attractive bonus percentage when trading, increasing profits.
Standard account
The Standard account is a balanced choice between risk and profit, suitable for investors who want to experience Forex trading with a small amount of capital. With many outstanding advantages, this account will help investors confidently conquer the financial market:
- Flexible trade size: Standard accounts use standard lot units, making it easy to calculate and manage the investment amount for each trade.
- High leverage: With a maximum leverage of up to 1:888, you can open positions larger than your capital, increasing your chances of profit. However, remember leverage also comes with higher risks.
- Low starting investment capital: With just 5 USD, you can open an account and start trading.
- Reasonable trading costs: Spreads are fixed at 1 pip and there are no commission fees, helping to save on trading costs.
- Flexible order volume: You can place orders with a minimum volume of 0.01 lot (MT4), suitable for all trading strategies.
- Large number of open orders: Maximum 200 open or pending orders to help diversify your investment portfolio.
- Trading bonus: Receive an attractive bonus percentage when trading, increasing profits.
Shares account
The Share account is specially designed for experienced investors who like to trade stocks and are willing to invest large amounts of capital. This account offers a completely different experience thanks to these outstanding advantages:
- Direct stock trading: Directly own the stocks you trade, just like when buying stocks on the traditional stock market.
- Do not use leverage: Not using leverage helps control risk better and minimize the possibility of capital loss.
- Large number of open orders: Maximum 200 open or pending orders to help diversify your investment portfolio.
- Large trading volume: Each trading lot is equivalent to 100,000 USD, suitable for investors with large amounts of capital.
Ultra Low Account
If you love the scalping style and are looking for a trading platform that can compete with big names like ECN, ICMarkets or Exness, you can choose XM’s Ultra Low account. Outstanding features of Ultra Low account:
- Ultra low spread: With spread costs from only 0.6 pips for major currency pairs, the Ultra Low account helps optimize profits on each trade, especially suitable for scalping trading style.
- Moderate starting investment capital: With just 50 USD, you can experience trading with the preferential conditions of the Ultra Low account.
- Large number of open orders: Maximum 200 open or pending orders for flexibility in performing many transactions at the same time.
- No commission: Investors will not have to pay any additional fees besides the spread, helping to minimize transaction costs.
Note about account types:
XM allows clients to open up to 8 different trading accounts. However, to ensure transparency and efficiency in system management, XM also has a policy on inactive accounts. An inactive account is an account that has not had any transactions (buying, selling, closing orders), transferring money, depositing or withdrawing money within a certain period of time. Result:
- Loss of all bonuses and credit benefits: If the account becomes inactive, all bonuses and credit benefits you have received will be forfeited.
- Charged monthly: Inactive accounts will be charged $5/month until reactivated or closed.
- Limited storage time: Inactive accounts will be stored for a maximum of 90 days. After this time, the account may be closed and all transaction data will be deleted.
XM trading platform
XM equips investors with many powerful trading platforms, helping you always capture the best opportunities in the market:
Metatrader 4
Outstanding features of MT4:
- Product diversity: Flexible trading with Forex, CFDs and many other asset types.
- Smart integration: Easy synchronization with popular trading software.
- Competitive trading costs: Low spreads from only 0.6 pips, optimizing profits.
- In-depth technical analysis: A variety of indicators and charts, supporting accurate decision-making.
- Intuitive interface: Flexible chart types (line, bar, candlestick), easy to customize.
- Diverse trading orders: Execute symmetrical, counter-directional orders and many other orders.
- High security: Transaction data is absolutely protected.
Metatrader 5
MetaTrader 5 (MT5) is a huge step forward compared to its predecessor MT4. With an intuitive interface and high customization capabilities, MT5 offers investors a professional and efficient trading experience. Highlights of MT5:
- Product diversity: Flexible trading on many markets such as Forex, stocks, indices, energy, metals,…
- In-depth technical analysis: A treasure trove of more than 80 indicators and 40 analysis objects, helping investors make accurate trading decisions.
- Automate trading: Program trading robots, install custom indicators, save time and increase efficiency.
- Diverse order types: More than 4 types of pending orders, helping investors proactively manage risks.
- Multi-timeframe charts: Analyze the market from many different angles, from minutes to years.
- Vibrant community: Share experiences, learn from many other investors.
Hedging at XM
Hedging is a popular risk management strategy, especially popular on XM thanks to the unique Close by feature. When performing hedging, investors open two Buy and Sell orders simultaneously on the same currency pair, helping to partially neutralize market risk. However, hedging also carries certain risks, especially for new investors. Managing multiple orders at the same time requires experience and profound market analysis skills.
MT4 Multiterminal
With Multiterminal, investors can easily manage multiple different MT4 accounts simultaneously on just one interface. This trading software offers many outstanding advantages:
- Replace multiple platforms: Centrally manage 128 MT4 accounts, saving time and effort.
- Flexible allocation: Allocate investment capital in many different methods, optimizing profits.
- Automate trading: Execute scheduled trading orders, ensuring you don’t miss any opportunities in the market.
- Track performance: Closely monitor the performance of each account, helping to make informed investment decisions.
XM transaction fees
Transaction costs are the most important factor that investors care about when choosing a trading platform. XM charges extremely competitive costs, helping to maximize profits for customers.
- Spread Costs: XM offers extremely low spreads, from only 0.6 pip for major currency pairs, 1 pip for Standard and Micro accounts. This means you will buy and sell at prices closest to the market, minimizing transaction costs. XM is committed to providing quotes directly from the market, without re-quotes, ensuring transparency and fairness.
- Financial leverage: XM offers many different leverage levels, from 1:1 to 1:888, suitable for many different trading styles and capital levels. Leverage will be automatically adjusted depending on the balance in the account, ensuring the safety of investment capital.
- Commission fee: Most account types at XM are commission-free, helping investors save significant costs. Share accounts specializing in stock trading will have commission fees because this is a general regulation of the stock market.
Cost comparison table between account types:
| Account type | Spread | Maximum leverage | Commission fee |
| Standard, Micro | 1 pip | 1:888 (depending on balance) | No |
| Ultra Low | From 0.6 pip | 1:888 (depending on balance) | No |
| Share | Depending on the stock | No | Yes |
Deposit and withdrawal methods on XM
Besides attractive trading features, flexible deposit/withdrawal policy is also a big plus point of XM floor. XM offers many different deposit/withdrawal methods, meeting the needs of diverse investors:
- Credit/debit card
- Bank transfer
- Electronic wallet
Fast processing time:
- E-wallet: Transactions are processed quickly, within just 1 working day.
- Bank transfer: Processing time may be longer, from 2-5 working days depending on the bank.
Attractive fee policy:
- Free deposits/withdrawals: XM waives deposit/withdrawal fees for almost all methods.
- Refund: For deposit/withdrawal transactions that incur fees, XM will refund investors.
How to register for XM
The process of opening an XM account is extremely simple, investors only need to follow the simple steps below:
- Step 1: Visit the official website xm.com. If the page does not display Vietnamese, select the language in the top left corner. Click “Open a real account,” fill in your personal information and trading account details, then select “Confirm agreement” to continue.
- Step 2: Fill in personal information accurately that matches your identification documents. On the next page, select the trading currency, desired leverage level and decide to participate in the bonus program.
- Step 3: Provide financial information including investment capital, employment status, education level, estimated income, net assets and transaction purpose.
- Step 4: Complete information about knowledge and experience such as work experience, number of times using a demo account, trading frequency in the last 3 years.
- Step 5: Set up a personal password and complete account opening, then confirm information via email.
- Step 6: Upload the necessary documents (identity card, address verification documents) to the system to verify the account.
- Step 7: When your account status changes to “Verified,” you have completed the entire process and can start trading on XM.
Resources provided by XM
XM is not only a reputable Forex but also a vibrant community with a full range of tools and resources to support investors:
Professional signals
XM offers a wide range of trading signals from leading experts such as Avramis Despotis, along with a wealth of insightful market analysis. The signals focus on popular currency pairs such as USD/EUR, gold, oil, GBP/USD,… provided with all necessary information such as entry points, take profit points, and stop loss points.
Users only need to register and authenticate their account to receive these trading signals immediately. Additionally, you can also access these signals through the “Technical Analysis” section of the XM platform.
Exclusive technical indicator
XM has developed and upgraded the Ribbon Indicator, a useful tool that helps investors identify market trends and accurately forecast reversal points. XM always has a team of experienced market analysts, constantly researching and developing new trading support tools.
Rich educational resources
XM provides a comprehensive video tutorial on how to use the MT4 and MT5 platforms, helping users quickly get acquainted with the platform’s interface and functions. The also regularly organizes online seminars with the participation of leading experts, updating the latest knowledge about the market and improving trading skills. All XM educational resources are provided free of charge to customers, helping to save on education costs.
Outstanding promotions on XM
XM regularly deploys attractive promotions to attract and retain investors. Some outstanding promotions of XM stand out:
- Bonus up to 30 USD
For customers joining XM for the first time, the attractive offer is a bonus of 30 USD given immediately after the account is verified, without requiring any initial deposit. To receive this bonus, you need to follow steps such as creating an XM account, proving your identity and confirming your address to authenticate your account, click request to receive bonus, and complete confirmation according to the instructions.
Once completed, you will immediately receive 30 USD in your account. However, to withdraw this amount, you need to meet certain conditions including trading at least 0.1 lots of standard volume and making a minimum of 5 trading orders.
- Welcome bonus 15%
When you deposit money into your trading account, XM will immediately give you an attractive bonus of up to 15% of the amount you deposit, up to 500 USD. This bonus will be automatically added to your account within 24 hours. This bonus amount will help increase your trading capital, thereby helping to better manage risks and increase your chances of success. However, you cannot withdraw this bonus amount directly from your account, it can only be used for trading and withdrawing profits.
- Free VPS
To use the completely free VPS service, you only need to meet 2 simple conditions such as making at least 2 standard transactions per month and keeping your account balance at 500 USD or more. When you meet the above two conditions, you will enjoy fast and stable trading speed thanks to a dedicated VPS, using Expert Advisors (EAs) smoothly and continuously.
XM customer support service
XM always puts customer satisfaction first, building a team of professional consultants, working 24/7 ready to support you anytime, anywhere. Investors can contact XM through the following methods for support:
- Online chat: Interact directly with XM consultants right on Fanpage or Website to get quick answers.
- Email: Email XM and expect a response within 24 business hours.
- Phone: Contact the customer care team directly via phone number for quick support.
XM understands the importance of communicating in your native language, so XM provides customer support services in Vietnamese throughout the transaction process. You can rest assured that all questions will be answered clearly and quickly.
Frequently asked questions about XM
What are XM trading hours like?
XM offers investors the opportunity to trade on global financial markets with official opening hours from 22:05 Sunday to 21:50 Friday (GMT). In addition, XM also offers a variety of trading products, including contracts for difference (CFDs), with trading hours that may vary. This flexibility helps investors easily arrange trading times to suit their schedules.
How long does an XM Demo account last?
The XM Demo Account is a great tool for investors to get acquainted with the trading platform and practice their skills without having to invest real capital. You can use the Demo account for as long as you want. However, to ensure the account always operates stably, XM will automatically close the Demo account if not logged in within 90 days. Each customer is allowed to open up to 5 Demo accounts at the same time.
What do investors need to participate in trading on XM?
To open a trading account at XM, you need to prepare the following documents:
- Copy of valid passport or citizen identification card. This document must be clear and include complete personal information.
- Most recent electricity, water, internet bill or bank statement is used to verify current residential address.
What do I need to prepare to verify XM?
To ensure compliance with international regulations and protect customer rights, XM implements a strict know-your-customer (KYC) verification process. This process includes collecting and verifying identification documents such as ID cards and passports, along with proof of residential address and deposit origin. Fully implementing the KYC process helps prevent money laundering and terrorist financing activities and protect customer assets.
Does it take long to create an XM account?
In just 5 minutes, investors can quickly create an XM account and be ready to conquer the financial market.
What should users do if they lose their bonus at XM?
Theoretically, the bonus is also the capital that the investor is added to the account. Therefore, when trading, investors can fully use both the principal amount and the bonus amount. However, in case of loss, the lost amount will be included in both principal and bonus. This means that investors cannot ask the exchange to refund the lost bonus.
If you want to receive additional bonuses, investors need to meet the conditions set by the such as depositing more money into their account, referring friends, achieving certain trading targets,…
What type of Forex broker is XM?
XM is a leading financial brokerage, playing an important role in market creation. The exchange provides trading services for financial products by providing “bid” and “ask” quotes through a modern online platform.
Are there any countries where XM trading is banned?
Although XM is a reputable exchange, the service is not provided in some countries such as the United States, Canada, Israel and Iran.
Conclusion
Through the above review, TraderForex hopes to bring you a comprehensive view of the XM trading platform. With outstanding advantages such as diverse products, high reputation and many attractive promotions, XM deserves to be a trusted partner of all investors. If you are looking for a reputable, stable and professional trading platform to start your investment journey, XM is a choice worth considering.
