Is XM a good broker?

Broker Discussion
1

I am new to trading forex, and I want start with with a good broker.
please tell me that XM is a good broker or I should choose another one?

2

I used them a while ago.

Overall, not great, not terrible. I didn’t leave them through any terrible problems with them.

There are definitely lots of worse brokers.

In practice they vary, like so many, according to which regulator it is under whom your account is held. Just make very sure that your account with them is regulated in Australia (first choice) or Cyprus (distant second choice) but definitely not in Belize or UAE (I think all the people with “XM problems” have accounts regulated in Belize or UAE, for all the usual reasons).

Ignore this at your peril!. You need your account to be regulated by ASIC or CySEC and not by DFSA or IFSC because how XM treats you as a customer is always determined by that.

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3

It is a good one, if you’re looking for options best check this thread: List of best regulated brokers

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4

Hi @Abdjawid,

I’m using XM for Automated trading. For me they are quite reliable, the only problem is the spread. But you can try ultralow account for a better one. If you are trading normally, it will be fine. I’m enjoying trading with them

5

@Abdjawid It is a good one, although I’d say there are better alternatives such as Fxview and IC Markets - both offer great trading conditions and are worth considering.

6

@spinning Heya! Can you break down the trading conditions for XM, Fxview, and IC Markets? I just wanna get a better idea so I can test things out.

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7
  • IC Markets: Spreads from 0.0 pips, 6 USD commission per standard lot, leverage up to 500x (5x for crypto), minimum deposit 200 USD.
  • Fxview: Spreads from 0.0 pips, commission starts at $0, leverage up to 1000x (10x for crypto), minimum deposit 50 USD.
  • XM: Spreads from 0.6 pips, no commission, leverage up to 888x (250x for crypto), minimum deposit 5 USD.

I hope this gives you a clearer picture of each broker’s offerings.