forex and CFD traders who prefer MetaTrader platforms and seek low trading fees

Trading Point Holding, XMs parent company, was founded in 2009 and it is aglobal CFD and FX broker. Trading Point Holding has two brands: XM and .

XM is available globally and regulated by three financial authorities: Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), International Financial Services Commission of Belize (IFSC).

Disclaimer:CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.69.10% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Risk warnings are shown on the website but they are unclear on percentages

XM has low CFD and withdrawal fees. The account opening is user-friendly and fast. You can use a lot of educational tools, like webinars or a demo account.

XM has a limited product portfolio as it offers CFDs, forex, cryptos for Europeans. The forex fees are average. XM charges a monthly $5 fee after 90 days of inactivity.

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback.Read more about our methodology

XM has low trading fees for CFDs and no withdrawal fee. On the other hand, the forex fees are average and there is a fee for inactivity.

All costs are built into the spread: 0.6 is the average spread cost.

All costs are built into the spread: 2.6 is the average spread cost.

With standard and micro accounts the fees are built into spread, 1.7 pips is the spread cost. With XM Zero accounts, there is $3.5 commission per $100 000 traded and average spread is 0.1 pips.

Inactivity fee of $5 / month after 90 days. if balance reaches $0 account is archived.

We ranked XMs fee levels as low, average or high based on how they compare to those ofall reviewed brokers.

To get things rolling, lets go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.

Trading feesoccur when you trade. These can becommissionsspreadsfinancing ratesandconversion fees.

Non-trading feesinclude charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant feesof XM for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

We also compared XMs fees with those of two similar brokers we selected,XTBandeToro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown ofXM alternatives.

To have a clear overview of XM, lets start with the trading fees.

XM hasthreeaccount typesthat differ in pricing. The Standard and Micro accounts charge higher spreads andthere is no commission. The XM Zero account charges lower spreads, but there is a commission.The following calculations are based on the Standard account.

We know its hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments within each asset class:

A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Lets see the verdict for XM fees.

XM has generally low CFD trading fees.Compared to its competitors, they are about the same or lower.

XMs forex fees are averagecompared to its competitors.

If you are a non-Europeanclient, you can also trade with real stockswith the Share account.The commission fee depends on the stock market.

XM has average non-trading fees.There isno account fee. It charges no withdrawal fee but the only exception is for bank withdrawals below $200, then itis $15.

There is aninactivity fee of $5 permonthafter 90 days of inactivity. This keeps charged monthly until yourbalance reaches $0, in which case youraccount is archived.

XMaccepts customers from alloverthe world.There are only a few exceptions. For example, you cant open an account from the USA, Canada, China, Japan, New Zealand, Israel, etc.

The required XMminimum depositis$5.for standard and micro-accounts, which is very low.

Although, if you open an XM Zero account, the minimum deposit is$100.

XM offers three account typeswhich differ in pricing, base currencies, minimum deposit, and contract size.

AUD, HUF, PLN, RUB, SGD, ZARUSD, EUR, GBP, JPY, CHF,

AUD, HUF, PLN, RUB, SGD, ZAREUR, USD, JPYEUR, USD, GBP, AUD, ZAR, SGD

XM doesnt offer corporate accounts. If you apply to a non-European entity means that you will not be subject to European client protections.

XMaccount opening is fully digital, fast, and straightforward.You can fill out the online application within 20 minutes. Our account was verified on the same day.

You can select many languages beyond the English: Arabic, Bengali, Chinese, Czech, Dutch, Filipino, French, German, Greek, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian Spanish,Swedish,Thai, Vietnamese.

To open an account at XM, you have to go through these steps:

Give yourname, country of residence, email address, and telephone number.

Select the trading platform (MT4 or MT5) and account type

Add your personal information, like date of birth and address

Select the base currency and the level of leverage

Give your financial information and answer questions about your financial knowledge

Verify your ID and residency. You can upload national ID,passport, or drivers license for verifying your ID. Utility bill and bank statements are accepted for residency verification.

XMs deposit and withdrawal are fast, can be done in several forms, and are cost-friendly.

Free wire withdrawal for more than $200 withdrawals

At XM, you can choose from11account base currencies. The available base currencies are:EUR, USD, GBP, CHF, JPY, AUD, RUB, PLN, HUF, ZAR, SGD

This account base currency selection is more competitive than at similar brokers.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you dont have to pay aconversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.RevolutorTransferwiseboth offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

XM charges no deposit fees.Besides the bank transfer and credit/debit cards, you can use a lot of electronic wallets:

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts which are in your name.

XM charges no withdrawal fees.The only exception is the bank wire transfer below $200. If your bank withdrawal isless than $200, $15 is charged.

For credit/debit cards and electronic wallets, the withdrawal amount cant exceed the amount you have deposited there. Therefore, all profits can be withdrawn only by bank transfer.

How long does it take to withdraw money from XM?We tested the credit card withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

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The web trading platform of XM is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts, and the design is outdated.

XM does not have an in-house developed trading platform,it uses third-partyplatforms: MetaTrader 4, andMetaTrader 5.These platforms are very similar to each other in functionalities and design. One major difference is that you cant trade stock CFDs on MetaTrader 4, they are available only on MetaTrader 5.

We tested the MetaTrader 4platform as more people use that.

MetaTrader 4 isavailable in an exceptionally largenumber of languages.

The XM web trading platform hasgreatcustomizability.You can easily changethe size and the position of the tabs.

However, the platformfeels outdatedand some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.

XM providesa two-step loginfor the account loginon the website where you candepositand withdraw. The trading platformdoesnt have a two-step authentication.

The search functions are OK.You can find the assets in categories. However, we missed the usual search function when you can type in the assets name manually.

You can use the basic order types.You will not find very sophisticated orders like the one cancels the otherorder. The following order types are available:

If you are not familiar with order types, readthis overview.

You cant set alerts and notificationson the XM web trading platform. This feature is available onlyonthedesktop trading platform.

XM hasclear portfolio and fee reports.You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the History tab. We didnt find a way to download them.

XM has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly with a good search function. There is no Touch/Face ID.

XM offers MetaTrader 4 and MetaTrader 5 mobile trading platforms.Similarly to the web trading platform,we tested the MetaTrader 4 mobile trading platform.

After you downloaded the MT4 mobile trading platform, access the relevant XM server, e.g. XMUK-Real UK.

Just like at the web trading platform, you can choose from alot of languageson the mobile trading platform too. Changing the language is a bit tricky on Android devices. You can do it only if you change the default language of your mobile.

XM has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find all the features.

XM provides only a one-step login for the platform, but two-step for account login where you can deposit and withdraw. A two-step login would be safer.

You cant use fingerprint or Face ID authentication. Providing this feature would be more convenient.

The search functions are good.You can searchby typing the name of the product or by navigating the categoryfolders.

You can use the same order types and order time limits as the ones on theweb trading platform.

Youcan set alerts and notifications,although you can do it only on the desktop trading platform. It would be much easier if you could set these notifications on the mobile trading platform.

In design and functionality, XMs MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.

For desktop too,you can use MetaTrader 4 and 5 and we tested the MetaTrader 4.

It has the same design, is available in the same languages, offers the same order types, has the same search functions, and offers the same portfolio and fee reports as the web trading platform. The desktop trading platformdoesnt have a two-step authentication,but XM providesa two-step loginfor the account loginon the website where you candepositand withdraw.

inthe form of mobile push and emailnotifications on the desktop tradingplatform.To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (youcan find it in the MT4 apps settings). You can add them if you go to Tools and then Options.

Markets and products3.0At XM, you can trade with CFDs, forex, and cryptos. Non-European clients can also trade with some real stocks. There are no ETFs, mutual funds, bonds, options, and futures.

XM is a CFD and forex broker with a high amount of currency pairs offered. On the flip side, the amount of CFDs they offer is lower compared to someXM alternatives.

Disclaimer:CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.69.10% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Risk warnings are shown on the website but they are unclear on percentages

You can change leverage levels, which is great.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. For example, instead of trading with 5:1 leverage, only trade with 2:1 leverage in case of stock CFDs.Be careful with forex and CFD trading, as the preset leverage levels are high.

XM offers real stocks for non-Europeanclients.You can trade with stocks with the Share account only.The real stock selection lags behind that of XTB.

XM offers asocial trading service.Mirror Trader platform allows investors to mirror professional traders to their own trading accounts, and execute trades manually, semi-automatically or automatically.

The Research and education section is more limited if you choose a language other than English. For example, there are no technical analyzes and market overviews on non-English websites.

, which are based on technical indicators. You can find them if you go to Research and education, then click on Trade Ideas.

XM has OK charting tools. You can use31technical indicators. These charting tools can be found on the MetaTrader trading platforms.

On the negative side, thedesign is outdatedand some features are hard to use. For example, we hardly found how we could remove an indicator from the chart.

News feed is availableon theMarkets andNews pages under the Research and Education tab. We liked that the news is categorized based on product types. Moreover, you can find Video news.

There is agreat economic calendar. We liked that the calendar has a filter function where you can filter for countries, data type, and importance.

XMs customer service is fast and available in a lot of languages. There are email, phone, and live chat too. Answers relevancy is ok. The phone support is not available at the weekends.

Answers are fast and the relevancy of the answers areOK.

The live chat is fast in replying for the first message then gets a bit slower if more questions asked. Weve found that sometimes the same question needed to be asked multiple times to get straight answers.

XM phone support was fast.However, we didnt get always relevant answers. For example, we didnt get a clear answer to how the swaps are calculated.

Email support works great. We received answers within a day and they were relevant.

We testedthe live chat and itis available 24/7 but the website gives different information about it. The phone support is not available at the weekends.

XM does a great job in education. It offers many educational videos and webinars in great quality. You can use a demo account, watch trading platform tutorials, and learn from educational videos.

Most of the education section on XM is based on video content.Youcan dive deep in topics ranging from an introduction to the financial markets through money management and trading strategies to technical analysis. Each chapter has several lessons, all available for XM users only.

Beyond these prerecorded materials, they offer live training both online and offline for various experience levels.

XM is regulated by three financial authorities globally, including the top-tier ASIC. It is a well-established brand but it is not listed on any exchange and does not disclose financial information.

Financial information is not publicly available

Yes, it is regulated by the Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), and International Financial Services Commission of Belize (IFSC).

To be certain, we highly advise that you check two facts:

XM operates more subsidiaries and depending on your residence, one of these subsidiaries will serve you.This is important for you because theinvestor protectionamount and the regulator differ from entity to entity.

Cyprus Securities and Exchange Commission (CySEC)

Australian Securities and Investments Commission (ASIC)

Trading Point of Financial Instruments Pty Ltd.

International Financial Services Commission of Belize (IFSC)

*Clients from these countries, except Belgium, Cyprus, Greeceand Switzerland can also open an account at , which is regulated by theFinancial Conduct Authority (FCA). The investor protection amount provided at this entity is85,000.

XM providesnegative balance protectionforforex spot and CFD trading, but only for retail clients from the European Union.Professional and non-EU clients are not covered with any negative balance protection.

The private company behind the XM brand isTrading Point Holdings.It wasestablished in 2009. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises.

On the other hand, the company doesnt disclose financial information and isnt listed on any exchanges. These would increase transparency.

XM is regulated by more authorities globally, including the top-tier ASIC.

On the plus side, we liked thelow CFD and withdrawal fees.The account opening is seamless and hassle-free.There is a wide range of educational tools in great quality.

XM has some drawbacks though.Itsproduct range is limited to FX, CFDs,cryptos. Stocks only for non-Europeans.Its forex fees are average. Lastly, amonthly $5 feeis charged after three months of inactivity.

We recommend XM for clients who prefer CFD and forex trading and are looking for MetaTrader trading platforms.Feel free to test itvia the demo account.

By trading with securities you are taking a high degree of risk. You can lose all of your invested money. You should start trading only if you are aware of this risk. m is not providing any investment advice, we only help you find the best broker suitable for your needs.

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