XM.com is a popular choice among small-scale traders, since you can open an account with just 5 USD and trade in excedingly small lots. At the same time, this boker definitely has what it takes to satisfy those who want to trade larger amounts of money as well.
Focus is on forex, cryptocurrencies and CFD, but you can also get exposure to stocks and futures.
Examples of cryptocurrencies that you can trade in here are BTC, ETH, BCH, LTC, and XRP.
XM. com is a part of the XM Group (founded in 2009), which in turn is owned by the Trading Point of Financial Instruments UK Limited, a company based in London, UK.
XM.com is regulated by the FCA, CySEC and ASIC. Which regulatory body your trading falls under depends on your location.
- The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom
- The Cyprus Securities and Exchange Commission (CySEC) is the financial regulatory agency of Cyprus
- Australian Securities and Investments Commission (ASIC) is Australia’s corporate regulator
Short facts about XM.com
- Instruments: Forex, Cryptocurrencies, CFD, Stocks, Futures
- Minimum deposit: 5 USD/EUR/GBP
- Minimum trade size: 0.1
- Demo account available: Yes
- MT4 integration: Yes
- Mobile apps: Yes, for Android, iOS and Windows Mobile
- Auto trading: No
- Trade signals: Yes
- Islamic account: Yes
When you have signed up with XM.com, two different trading platforms will be available to you:
- Meta Trader 4 (MT4)
- Meta Trader 5 (MT5)
Can I get a demo account?
Yes, you can create a demo account and trade with play-money.
Mobile trading apps are available for iOS, Android and Windows Mobile.
The available leverage with the European Union ranges from 2:1 to 30:1 depending on the instrument. Margin requirements remain the same around the clock, seven days a week.
For some instruments, traders outside the European Union can access much higher leverage, since their leverage isn’t capped by EU legislation. For certain markets, this means up to 500:1 leverage.
There are three different real-money accouts available. All of them allow you to have up to 200 open/pending posts.
- Micro accountPerfect for the very small-scale trader. A deposit of 5 USD or eqvivalent is enough to get started. 1 micro lot = 1,000 units of the chosen base currency. Available base currencies: USD, EUR, GBP, CHF, AUD, HUF and PLN.
- Standard accountA deposit of 5 USD or eqvivalent is enough to open a standard account. 1 micro lot = 100,000 units of the chosen base currency. Available base currencies: USD, EUR, GBP, CHF, AUD, HUF and PLN.
- Zero accountA deposit of 100 USD or eqvivalent is required to open a standard account. 1 micro lot = 100,000 units of the chosen base currency. Only USD or EUR can be chosen as the base currency for a zero account.
Can I make a demo account?
Yes, you can create a demo account with XM.com, and it will be filled with 100,000 USD in play-money for you to play around with.
XM.com accepts major credit cards, bank transfers, and quite a few e-wallets. Regretably, it is not possible to use PayPal with XM.com.
You can deposit in most currencies, but the money will be automatically converted into the currency that you have selected as base currency for your trading account.
Withdrawal requests are typically processed within 24 hours.
Telephone support: +44 2031501500
Email support: firstname.lastname@example.org
Live chat support: Yes, it’s found on the contact page of the XM.com website
- XM offers a free Virtual Private Server (VPS).
- Phone trading is possible from Sunday 22:05 GMT through Friday at 21:50 GMT.
- Traders in the United States and Canada can not use XM.com.