XM Global

• Summary
• Trading Accounts
• Registering an Account
• Deposit and Withdrawal
• Trading Platforms
• Products, Spread and Commissions
• Bonuses
• Customer Service
• Conclusion

Summary

XM Group was established in 2009 and currently have active management offices 3 different countries

XM AU (Trading Point of Financial Instruments Pty Limited) is located in Australia. Regulated by the Australian Securities and Investments Commission (ASIC). License Number 443670
XM Global Limited is located in Belize. Supervised by the International Financial Services Commission (IFSC). License Number IFSC/60/354/TS/19
XM Cyprus (Trading Point of Financial Instruments Ltd) is located in Cyprus. Cyprus Securities and Exchange Commission (CySEC) regulates this company with the license number 120/10.

Trading Accounts

XM provides 4 accounts for their customers

1. Micro Account
2. Standard Account
3. Ultra Low Account
4. Shares Account

Registering an Account

New account registrations are made online. Citizens of the USA, Canada, Japan, New Zealand and China are not allowed to open accounts at XM.

Here are the steps to open an account with XM Global:

1. Fill in your personal information such as e-mail address, date of birth, address, etc.
2. Select your account, platform, and account currency for your account type.
3. There are a few questions you need to answer about your financial situation.
4. Send your documents. You will need to verify your identity by uploading a picture of your official identity document or passport, and verify your address by uploading an invoice or proof of residence.
5. Once XM validates your documents, you are ready to go. The documents of our test account were verified on the same day.

Register an Account

Deposit and Withdrawal

XM does not charge any fees for deposits or withdrawals. You can see the deposit or withdrawal options in the specification section at the bottom. As usual, the deposits are completed within few hours but withdrawals take 1 or 2 business days.

Trading Platforms

XM is compatible with Metatader softwares. You can also use MT4 or MT5 and web and mobile versions of the same softwares.

Products, Spread and Commissions

XM offers large amount of products for trading. Spreads can be considered as medium. Not bad, but we’ve seen better ones. For an ultra-low account, you can see available products and spreads in the following image (in points). The image was taken at the end of the London session, so you will usually see these spreads during normal trading hours.

Bonuses

The active promotions offered during the review period are as follows:

1. $30 instant bonus on all new accounts
2. Deposit bonuses up to 50%
3. XM Loyalty program
4. Free VPS server

Customer Service

XM customer service is available 24 hours on week days, support is available via live chat, telephone and email. XM has representatives who speak almost 30 languages, making it suitable for all customers around the world. Our test support email was replied on the same day. The online chat representative answered our call in only one minute.

Conclusion

As a result, XM was affected by new regulations for Euro zone companies. The company offers attractive bonuses and educational content on its website. It can be considered as a relatively new company compared to its competitors, but it has a significant volume of transactions and customers as well. It is suitable for clients who want to use Metatrader software and want to benefit from bonuses. We highly recommend you to open a demo account and trade with virtual money before registering a live account.

Open a Demo Account

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