What We Tested
- Account type: Standard Account ($500 starting balance for test)
- Platform: MT5 Desktop
- Trading period: 5 months, 110 trades executed
- Pairs tested: EURUSD, GBPJPY, XAUUSD
- Withdrawal tests: 3 successful (Skrill, Credit Card, Bank Wire)
- Support tests: 4 inquiries via live chat, email, phone
Testing confirmed XM’s strong point: highly stable execution with virtually no requotes on major pairs, even during high volatility. The focus was on verifying their no-requotes policy and spread stability.
Regulation & Safety
XM Group is one of the world's most heavily regulated brokers, operating under multiple Tier-1 and Tier-2 licenses:
- ASIC (Australia) – License No. 443670: Tier-1, strong investor protection, max leverage 1:30
- CySEC (Cyprus) – License No. 120/10: Tier-1 (EU), investor compensation fund, max leverage 1:30
- IFSC (Belize) – License No. 60/354/TS: International entity for non-EU/AU clients, offering higher leverage (up to 1:1000)
Spreads & Execution
| Pair | Standard Avg Spread | Ultra Low Avg Spread | Commission |
|---|---|---|---|
| EUR/USD | 1.0 pips | 0.8 pips | $0 |
| GBP/USD | 1.7 pips | 1.3 pips | $0 |
| AUD/USD | 1.1 pips | 0.9 pips | $0 |
| XAU/USD | 35 pips | 30 pips | $0 |
Spreads on Standard and Ultra Low accounts are markup-inclusive (commission-free). The 'Ultra Low' account provides the tightest available spreads.
Execution Model and Quality
- Execution Model: Market Maker (Hybrid Model)
- No Requotes Policy: Strictly enforced. Orders are executed instantly at the requested price or better.
- Slippage (majors): Minimal, mostly neutral or positive (favorable fills).
- Fill Time: Instantaneous (under 1 second) on 99.35% of orders.
XM operates as a Market Maker, but their execution quality is excellent. The 'No Requotes' policy is highly reliable, making it suitable even for EAs that require consistent fill prices.
Education and Research (Market Leader)
XM places significant emphasis on trader education, a major advantage for novice and intermediate traders:
- Free Webinars: Daily webinars covering market analysis, trading psychology, and platform tutorials (available in multiple languages).
- Live Education: Regular live sessions by professional market analysts.
- Trading Signals: Provides free access to Trading Central signals and market analysis for active clients.
- Free VPS: Available for clients maintaining minimum balance and trading volume (ideal for EAs).
Unlike many competitors, XM focuses heavily on high-quality, continuous education, a service that adds real value, especially for those new to the markets.
Account Types & Fees
Standard Account
- Min deposit: $5
- Spreads: From 1.0 pips (commission-free)
- Commission: $0
- Contract Size: Standard (100,000 units)
- Best for: General traders and beginners
Micro Account
- Min deposit: $5
- Spreads: From 1.0 pips (commission-free)
- Commission: $0
- Contract Size: Micro (1,000 units)
- Best for: Beginners learning with micro-lots
XM Ultra Low Account
- Min deposit: $50
- Spreads: From 0.6 pips (commission-free)
- Commission: $0
- Contract Size: Standard/Micro options
- Best for: Traders prioritizing lower spreads (where available)
Other Fees
- Deposit fees: $0 (all methods, including credit card and wire transfer)
- Withdrawal fees: $0 (broker covers fees on all methods, min $200 for wire transfer exception)
- Inactivity fee: Yes, $15 after 90 days of inactivity, then $5/month.
- Swap rates: Competitive; Islamic accounts available (swap-free)
Deposits & Withdrawals (Tested)
XM is highly rated for its funding policies, processing over 98% of withdrawals automatically:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card | $300 | Instant (deposit) / 1-2 business days (withdrawal) | $0 | Matched back to source card |
| Skrill/Neteller | $150 | Instant (deposit) / Instant (withdrawal) | $0 | Extremely fast processing |
| Bank Wire | $1,000 | 2-5 business days | $0 (for amounts >$200) | No fees charged by XM |
Platforms & Tools
- MetaTrader 4 (MT4): Full suite (desktop, web, mobile). Ideal for algorithmic trading and legacy EAs.
- MetaTrader 5 (MT5): Full suite. Superior for stock CFDs, more timeframes, and advanced analysis.
- Proprietary Apps: XM offers a robust mobile app for account management and basic trading.
- Tools: Free access to Trading Central and proprietary technical analysis tools.
Our Take: XM provides the complete, stable MT4/MT5 experience, which is their strength. They focus on delivering reliable platforms rather than developing an in-house trading solution.
Customer Support (Tested)
XM offers multilingual support 24/5:
- Live Chat: 24/5, available in 30+ languages, average response time ~1 minute
- Phone Support: Available for immediate, complex issues (tested once, fast connection)
- Quality: Support staff are well-trained on their fee structure, regulatory separation, and platform functions. High-quality support is a hallmark of XM.
The breadth of language support and the speed of the live chat place XM's customer service among the best in the industry, especially for international traders.
PROS
- Strong multi-regulation (ASIC, CySEC) for high trust
- Extremely low minimum deposit ($5) for beginners
- Reliable No Requotes policy and stable execution
- Free deposits and withdrawals with no fees
- Excellent educational resources and multilingual support
- Variety of commission-free accounts (Standard, Micro, Ultra Low)
- Segregated client funds
CONS
- Spreads on commission-free accounts are wider than true ECN brokers
- Operates as a Market Maker (Hybrid B-Book/A-Book)
- Inactivity fee ($15 after 90 days) is a minor drawback
- Limited advanced proprietary trading tools (relies on MT4/MT5)
Who Should Use XM Group?
- Great fit: Beginner and intermediate traders looking for a highly trusted, multi-regulated broker with a simple fee structure ($0 commission) and a low barrier to entry ($5 min deposit).
- Good fit: Traders operating in non-EU/AU regions who need higher leverage (up to 1:1000) from a regulated name.
- Not ideal: Advanced scalpers or high-volume EAs for whom the absolute lowest commission (like Fusion Markets or IC Markets) is the priority.
Final Verdict
XM Group is a stalwart of the retail FX industry, primarily known for its stability, safety, and excellent execution. It consistently delivers a high-quality trading environment that prioritizes the client experience, making it a favorite globally.
While its Standard Account spreads (1.0 pips EUR/USD) are wider than the ECN giants, the benefits of $0 commission, $0 fees on all deposits/withdrawals, and robust regulatory oversight (ASIC/CySEC) far outweigh this for the majority of retail traders.
The broker’s commitment to education and support makes it the top choice for beginners starting with a small deposit. For an all-around reliable and globally trusted broker, XM is an easy recommendation.