Founded in 2009, XM Group is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
XM Group is a vanilla MetaTrader broker that offers the complete MetaTrader suite, albeit with no notable upgrades to enhance the experience. Also, while XM Group’s research offering is slightly above the industry standard, it is far from challenging industry leaders such as IG and Saxo Bank.
Pricing at XM Group varies by account type. Overall, the broker is not a stand out for low-cost trading when compared to pricing leaders such as CMC Markets and IG.
Is XM Group Safe?
XM Group is considered averge-risk, with an overall Trust Score of 81 out of 99. XM Group is not publicly-traded and does not operate a bank. XM Group is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). XM Group is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), and the Financial Conduct Authority (FCA).
Offering of Investments
Through its various brands, XM offers traders CFDs on 1200 stocks, 30 indices, eight commodities, four metals, five energies, and 57 forex pairs. Five CFDs on cryptocurrencies are no longer available at the firm’s UK, Australia, Cyprus, and Belize branches.
Commissions & Fees
The commissions and fees at XM Group depend on the type of account. There are mainly three to choose from, including the commission-free Micro and Standard accounts, and the commission-based XM Zero Account. It’s worth noting that there is also a fourth account type, the XM Ultra Low account, but it is not available at all the entities of the Group.
Spreads: In the XM Zero account, average spreads on the EUR/USD stand at 0.1 pips (according to XM Group website data, and not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.
Commissions: Even after including the USD $3.5 per side commission ($7 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 0.8 pips (0.1 spread + 0.7 RT commission), making the XM Zero account the firm’s most competitively priced offering.
Execution method: It is worth noting that XM Group acts as the sole dealer (principal) in all trades it executes and offers no re-quoting across all its account types in terms of the execution method as a market-maker/dealer. This execution method allows XM Group to provide lower spreads during certain market conditions. Accordingly, both account options are useful, depending on clients’ needs.
Platforms & Tools
XM Group is a MetaTrader-only broker offering the standard, out-of-the-box experience, including both MT4 and MT5. While there are no notable add-ons to help XM Group stand out, offering the full MetaTrader suite is a crucial distinction among the best MetaTrader brokers.
XM Group’s research offering consists mostly of the content generated by an in-house team of analysts, including daily market recaps and technical and fundamental analysis articles and videos. There is also an economic calendar powered by Investing.com.
Trading signals: In terms of manual trading signals, XM Group offers its trading signals hub to live account holders where users can access signals across ten instruments generated twice daily. Meanwhile, trading signals that can be automated are currently limited to the Signals Market available within the MetaTrader platform. For social copy trading, we found eToro and Pepperstone to have superior offerings.
Technical analysis: XM offers Tradepedia, which provides educational Forex and CFD content including for technical analysis through the use of common indicators, such as Ichimoku and Bollinger Bands. Tradepedia covers beginner and advanced video content.
Video news analysis: XM Group has done an excellent job creating daily forex news videos with market analysis explained in a TV interview-style format.
Since XM Group is a MetaTrader-only broker, the iOS and Android versions of the MT4 and MT5 mobile apps come standard and are both available for download from the Apple iTunes store and Android Play store, respectively.
For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups, and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.