XM

XM was founded in 2009 and has grown into a global broker regulated by Tier‑1 authorities, including CySEC (Cyprus), ASIC (Australia), and the FCA (UK), with additional oversight from the DFSA (Dubai) and FSC appointments for international clients.

They serve over 15 million traders across nearly 190 countries and offer more than 1,400 instruments—covering forex, indices, commodities, stocks, and cryptocurrencies. XM provides a consistent trading experience using MetaTrader 4, MetaTrader 5, and a browser-based WebTrader, each with full technical toolkits and near-instant execution.

Our hands-on testing showed XM excels in education, research, and support. The broker delivers top-tier learning materials—live webinars, video tutorials, daily market updates, economic calendars, and sentiment insights powered by Trading Central—right inside the trading environment. Customer service is available 24/5 in over 30 languages, and we experienced fast, informed live chat and email responses.

Account types are flexible and beginner-friendly. Micro, Standard, and Ultra Low accounts come with low or no commissions and modest entry thresholds (some as little as $5), while the Zero Account offers tighter spreads with a small per‑lot commission. During testing, order execution was solid—99.35% of trades were filled instantly according to XM—and requotes or rejections were rare.

While XM performs well overall, there are areas where traders should take note. Index spreads are not consistently tight—only the S&P 500 spread remains competitive, while many others can feel average or wide by modern standards. Despite offering low-entry accounts, they don’t offer guaranteed stop-loss orders and swap fees on longer-term trades can accumulate.

Being a market maker, XM may widen spreads during periods of low liquidity—something we noticed as a few clients reported on community forums. Anecdotal complaints also mention concerns with stop-loss execution and withdrawal delays in certain regions, though these are not widespread.

XM relies solely on MetaTrader platforms (including WebTrader), without offering a true home-grown desktop solution. For traders seeking a feature-rich proprietary platform or social/copy-trading ecosystem, this limitation is expected—XM focuses instead on enhancing MT4/5. Also, bonus offers like deposit promotions or loyalty points can be attractive, but they often come with volume conditions or expiration terms, so read the fine print carefully

XM remains a strong candidate for traders who value robust regulation, excellent educational tools, and versatile account types. Its platform execution and global reach make it reliable, especially for forex and commodity traders who prize trust and structure.

However, traders with a strong focus on cost efficiency—particularly in indices other than SP500—might find spreads underwhelming. If you're reliant on proprietary platform features, social trading, or guaranteed order types, XM may feel basic.

Overall, XM suits both beginners looking for structure and educational depth, and experienced traders valuing compliance and accessibility. If your strategy emphasizes tight pricing across all instruments, it’s worth comparing XM’s spread offering directly with competitors on TraderGuide to make an informed choice.