XM AU – located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
XM CY – located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
XM BZ – located in Belize, regulated by the International Financial Services Commission of Belize (IFSC).
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, BZ company accepts European traders, so one can open a trading account there.
XM Group accepts clients from all over the world, excluding USA, Canada, Israel and Iran.
Forex broker offers the following underlying assets for trading.
Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.
Based on baskets of different blue-chip stocks.
Based on baskets of different blue-chip stocks and US Dollar Index.
Based on Crude Oil (WTI, Brent), Gas Oil and Natural Gas.
Based on Cocoa, Coffee, Corn, Cotton, Soybeans, Sugar, Wheat.
Based on shares of AU, US, UK, EU and RU companies.
XM Group is an online brokerage for forex and CFD traders, originally established in 2009 under the registered business name Trading Point of Financial Instruments Ltd. The company is headquartered in Cyprus, and regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 120/10. CySEC is a well-regarded regulatory agency under EU jurisdiction with long experience in dealing with retail-focused online brokerages and other financial institutions. In addition to Cyprus, XM also operates in Australia and Belize and is accordingly overseen there by local authorities.
The broker claims to have more than 1.5 million clients from 196 countries around the world, making them a big player in the forex trading space. The website is also offered in 23 languages, making it a convenient and easy broker to use for traders from all parts of the world. Further, the company has demonstrated that they are willing to go above and beyond to keep their clients satisfied by visiting over 120 cities to meet with traders and partners since it first launched almost a decade ago.
One thing that stands out with XM Group is that the broker has also made an effort to become one of the more transparent and trusted brokers in the forex and CFD trading world, automatically protecting all users against the possibility of getting a negative account balances, while also insuring client funds of up to EUR 20,000 under the CySEC-mandated Investor Compensation Fund.
In terms of available markets to trade, XM has you covered for nearly every need, offering everything from forex to CFDs based on equity indices, commodities, and even cryptocurrencies, including popular choices such as Bitcoin, Litecoin, and Ripple XRP. Margin requirements for all cryptocurrency CFDs on XM start at 20%, and goes higher with larger position sizes.
XM Group offers its traders three different account types to choose from when they first sign up; a Micro Account, a Standard Account, and an XM Zero Account. All account types offer similar leverage, but the XM Zero Account comes with commission-based trading and spreads as low as 0 pips, whereas Micro and Standard accounts offer commission-free trading, but with slightly wider spreads.
Which account type that offers the better deal therefore boils down to your trading style, how often you trade, and whether you trade large or small volumes.
When it comes to trading platforms, XM sticks with what works and what traders usually request, offering the classic MetaTrader 4 (MT4) and the upgraded MetaTrader 5 (MT5) in versions for PC, Mac, iPhone, Android, and tablet devices. MT4 is in many ways the benchmark for trading platforms in the world of forex, and comes with the extra benefit that it is extremely easy to switch between different brokers while staying on the same platform.
XM Groups customer service is open 24 hours on all trading days, with customer service agents available via live chat, phone, and email. As a global brand with operations all over the world, XM has representatives that speak an impressive 29 different languages, with local phone numbers in Cyprus, the United Kingdom, Australia, and Greece. Partly because of this, we believe XM Group is a good choice for international traders who are looking for a reliable, serious, and fairly priced broker to trade forex and CFDs with.
Forex trading imposes a high level of risks and is not suited for all traders and investors. As much as trading on foreign exchange markets may be potentialy profitable, it can also lead to significant losses. Ensure that you have enough trading experience, knowledge and full comprehension of potential risks involved. Most derivative contracts have high leverage and low margin requirements. Hence, rapid price movements may inflict serious financial damage or even devastate your entire trading account.