A Review of XM’s Selection of CFDs and Currency Pairs

XM.com, one of the world’s finest forex and CFD brokers and the official sponsor of Usain Bolt, also happens to be one of our absolute favorite brokers. With a range of over 700 underlying assets, some of the best trading platforms in the world, and trading accounts designed for any type of trader, there is really no wonder why XM is so popular among CFD traders.

Check out our comprehensive guide to everything related to XM to learn more about this world leading broker.

Is XM a scam?

No, XM is not a scam. In fact, XM is as far from a scam broker as one could get. XM has a fantastic reputation among traders, and they are an overall respected brand around the world. The broker XM is actually owned and operated by a British company called the Trading Point of Financial Instruments UK Limited, which is licensed and regulated by the Financial Conduct Authority (FCA). Any CFD broker with a license from the FCA is 100% legitimate since they have strict requirements to follow and are subject to regular audits.

In addition, we follow strict policies when it comes to our reviews and the brokers that we recommend to our users. We have a specific selection process that all brokers have to go through, and if we see the slightest evidence that a broker is not legitimate or that they are involved in sketchy behavior, we stop the review immediately. Only the best brokers get a full evaluation by us and only the best of the best end up with a review on this site.

XM has gone through the whole process and come out of our reviewing process with a very high grade. The point we want to emphasize is that we would trust XM with our forex trading and so should you. So let’s continue and try to figure out if XM.com is the broker for your or not.

XM’s Underlying Assets

XM provides access to several of the most popular CFD markets and a total of 700+ assets, meaning they literally have something that fits anyone. To separate the different markets from each other, XM has decided to split their available assets into the following categories.

  • Forex – Everything from the largest currency pair such as USD/EUR to smaller less popular and even exotic currencies can be traded on the XM platform.
  • Stocks – Trade hundreds of stocks from several of the world’s leading markets with your XM trading account.
  • Commodities – This category consists of mostly soft commodities and food items such as coffee, wheat, and sugar. However, XM offers more commodities in the categories below.
  • Equity Indices – Speculate on the price movements of 18 of the world’s most influential stock indices.
  • Precious Metals – You can trade gold and silver with XM, and if you want to trade copper you can go to the commodity category.
  • Energies – This category is just what it sounds like: oil, natural gas, brent, and other energy commodities.
  • CryptocurrenciesBitcoin, Ethereum, Dash, Litecoin, and Ripple XRP are available to trade using XM. However, at the time of writing all of these assets had been paused due to high liquidity.

As you can see, XM is covering all of the major markets in the world and the most popular CFD markets out there. This means that you can trade on assets from any industry that you would like and you can even trade in different markets at the same time.

XM started off as a forex broker, but since then they have done a lot to accommodate and adjust after customer demand. Adding a comprehensive CFD product has given the broker leverage to compete with the largest names in the business, and by adding cryptocurrencies to the mix, XM has proved how innovative they are trying to be.

XM’s 16 Trading Platforms

XM is proud to offer 16 different platforms that are designed to be compatible with the world’s most used devices. Although, it can be a bit misleading to say there are 16 platforms since XM is offering the MetaTrader product. What the broker actually means is that they offer several versions of the same platform. Let us explain.

XM provides MT4 and MT5 for PC, Mac, iPhone, IPad, and Android. They also offer access to the MetaTrader Webtrader.

MetaTrader is a company that develops forex and CFD trading platforms, and they are loved in the industry. Most brokers offer one or two of MetaTrader’s platforms either on their own or together with a proprietary platform. However, XM offers all of MetaTrader’s leading platforms meaning they have an impressive range of trading tools available to everyone.

  • First off, XM has support for the MetaTrader 4 which is the best forex trading platform in the world. The MT4 was designed to offer a smooth forex trading experience and is connected to the most efficient analytic tools in the business. The MetaTrader 4 is what you’ll use when trading forex with XM and the platform is compatible with PC, Mac, iOS, and Android.
  • The MetaTrader 5 is a platform that was developed after the MT4. The purpose of the MT5 was to compliment the MT4 with better support for CFD trading since the MT4 is mostly for forex. In our opinion, the MT5 is equally as good as the MT4, and some of the charting tools the platform comes with are truly groundbreaking. In fact, the MT5 is one of the top five best CFD trading platforms in the industry today. Just like the MT4, the MT5 is compatible with PC, Mac, iOS, and Android.
  • The MetaTrader Webtrader is a web-based version of the MetaTrader desktop platforms. This platform runs entirely in your web browser, and there is no need to download any software in order to run it which is beneficial when using someone else’s computer or when trading in a public space, or if you’re using a Windows 10 s or a Chromebook. In exchange for the no-download, you do get limitations on certain features, but you can still use it to fulfill all your trading needs. The MetaTrader is available in all leading browsers for Mac and PC, however, you cannot use XM’s version of the platform on your mobile device.

Using XM on a computer: download the MetaTrader 4 to trade forex or the MetaTrader 5 to trade CFDs. Alternatively, you can use the WebTrader to trade directly in your web browser without downloading anything.

Using XM on a mobile device: XM can be used on both Android smartphones and tablets as well as on iPads and iPhones. In order to start trading on your mobile device, you will have to download the XM trading app from the app stores.

All in all, the selection of platforms is the same as other brokers that work with MetaTrader, and as per usual, we are as happy as always to use them.

XM Trading Accounts

XM currently has three different trading accounts with slightly different features and perks. The Standard Account is the account that most traders use and it lets you do all the necessary analytic work before you trade on your preferred platform. They also have a Micro Account that has lower limits and a somewhat limited selection of features. This account is best suited for traders with small bankrolls. XM also provides multiple XM Zero Accounts which provide different perks depending on how much you deposit and are willing to trade with.

Note that all of the real money trading accounts come with negative balance protection, tight to no spreads, and access to the world famous MetaTrader 4 and 5 platforms.

In addition, XM also has a demo account that you can use to practice trading techniques and evaluate strategies.

XM Demo Account

A demo account is almost like a regular trading account with the difference being that you use virtual money to trade. Since you don’t invest your own money, you never actually risk anything and instead you can practice in a risk-free environment.

XM Funding and Withdrawal

Since XM is regulated by the FCA, their selection of payment options is very similar to other brokers regulated by the same agency. You can, for example, deposit and withdraw money using cards such as Visa, Mastercard, Maestro, and UnionPay. Or you can make an electronic payment using Skrill, Neteller, or Klarna (limited to certain countries). You can also deposit money with a regular bank transfer. Depositing and withdrawing money from xm.com is a simple process where the allow most of the payment methods you would expect.

As mentioned, all regulated brokers offer the same or similar payment methods, and these are all the safest ones. They are also the most common payment methods and have been handpicked to accommodate as many traders as possible. In fact, according to statistics, most people fund their trading accounts using their credit or debit card.

XM License and Regulation

XM has done everything they can to become regulated and licensed in the countries where they operate. In order to do so, they have applied and been approved for three separate trading licenses in Europe and Australia.


Since XM is a company registered in the United Kingdom having a license from England’s own regulatory body is important, although not 100% necessary. The Financial Conduct Authority is a highly respected agency in the business, and a license from the FCA is really all you need to be considered fully regulated. The FCA has strict rules that apply to brokers in regards of safety, data protection, fund protection, transactions, etc. and a part of the license is an agreement that XM can be audited at any given time.


The Cyprus Securities and Exchange Commission is a regulatory body with similar authority to the FCA. Having a license from CySEC makes a broker licensed in all of the European Union, excluding Belgium, and it’s considered the most legitimate license in the industry. For many years, the CySEC has been a regulatory leader on the CFD market and being approved by them is the ultimate proof of how safe and serious they are.

Similar to the FCA, CySEC oversees every part of XM, and they audit them on a regular but random basis.


The Australian Securities and Investment Commission is considered to be one of the strictest regulatory bodies in the financial industry. They help regulate brokerage services in the region surrounding Australia and New Zealand as well as certain parts of Asia. Having a license from ASIC is a great sign, and it helps confirm that a broker is actually safe to use.

Customer Service for XM Customers

Contacting XM is as easy as it gets. You can either start a live chat, which is the easiest option or you can send them an email ([email protected]) directly from the website. Alternatively, you can call them on their support number (44 2031501500). Also, XM’s headquarters are located in England in case you need to send them physical mail.

That XM.com offers phone support is great, a lot of brokers today only offers support via E-mail and chat but XM.com is going all the way by also offering phone support.

We have been in contact with the XM customer support on a few different occasions to get help with some issues we ran into and to get answers to some of our questions regarding their services. Each time we contacted XM, they responded with detailed and helpful answers in a timely manner. We definitely prefer using the live chat because of practical reasons, but that is up to you.

Moreover, XM has also written a comprehensive FAQ where they list and answer some of the most common questions they get asked about their services. So if you only have a quick question, we suggest you start here since you will most likely find your answer, and it will save you the time you would have spent talking to support.

Conclusion: Is XM a Good Broker?

XM is a great broker for most traders that are looking to trade forex and CFDs, for many reasons. For example, XM provides investors access to all of MetaTrader’s leading trading platforms on the most popular devices and the broker also has a decent selection of assets that can satisfy even the pickiest trader. But on top of that, XM has all the licenses needed to be considered a fully regulated broker.

Their website and trading platforms are also well-designed, and it’s evident that the developers have put a lot of thought into navigation and practical usage.

If you’re looking to start trading today, we suggest you give XM a try, and if you’re not sure if the broker is a fit for you we encourage you to open an XM demo account.