XM Review
By Itai Varochik | Last updated February 1, 2026
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Our Verdict
XM is the best forex broker for beginners thanks to its educational resources and micro accounts. Experienced traders may want tighter spreads elsewhere.
GetASearch Score: 8.1/10
Rating: 4.2/5 (780 reviews)
Pros
- Excellent education
- Micro accounts
- No requotes
- Wide regulation
Cons
- Higher spreads than competitors
- Limited crypto
- Dated platform UI
- Limited research
Score Breakdown
| Criteria | Score |
|---|---|
| Features | 8.0/10 |
| Ease of Use | 8.5/10 |
| Value for Money | 8.0/10 |
| Customer Support | 8.0/10 |
| Overall | 8.1/10 |
What is XM?
XM is a global forex and CFD broker serving over 10 million clients. It's known for its extensive educational resources, micro accounts for beginners, and no-requote policy.
How We Tested XM
We tested XM for 30 days across its trading platform, educational resources, and account types. Our evaluation covered execution speed, spread competitiveness, and the depth and accessibility of its educational content. We assessed the ease of opening a micro account and the clarity of its regulatory compliance to provide an objective score.
Overview
<p>XM is a global forex and CFD broker serving 10+ million clients in 190 countries. It offers trading on MetaTrader 4 and 5 with competitive spreads, extensive educational resources, and a range of account types for different experience levels.</p>
Interface & usability
<p>XM provides MetaTrader 4, MetaTrader 5, and a proprietary web trader. The platforms are industry-standard with advanced charting, expert advisors, and copy trading. The educational hub is one of the most comprehensive among retail brokers.</p>
Key features
<p><strong>Multiple Platforms:</strong> MT4, MT5, and XM WebTrader for all devices.</p><p><strong>Education:</strong> Free webinars, tutorials, and market analysis for all account holders.</p><p><strong>Micro Accounts:</strong> Start with as little as $5 and trade micro lots.</p><p><strong>Copy Trading:</strong> Follow and replicate strategies from experienced traders.</p>
Pricing
<p>Micro Account: spreads from 1.0 pip, no commission, $5 minimum. Standard: spreads from 1.0 pip, no commission. XM Ultra Low: spreads from 0.6 pip. Shares Account: commission-based stock CFDs.</p>
Security & compliance
<p>Regulated by CySEC (Cyprus), ASIC (Australia), IFSC (Belize), and DFSA (Dubai). Negative balance protection. Client funds in segregated accounts with top-tier banks.</p>
Verdict
<p>XM is an excellent choice for beginner to intermediate forex traders. Its educational resources, low minimum deposit, and micro lot trading make it highly accessible. Advanced traders may prefer Pepperstone for tighter spreads.</p>
XM Features
| Feature | Available | Description |
|---|---|---|
| Education Hub | Yes | Free courses and webinars |
| Micro Accounts | Yes | Trade with small amounts |
| No Requotes | Yes | Guaranteed execution |
XM Pricing
Spreads from 0.6 pips
Best For
- Forex beginners
- Small account traders
- Education seekers
- Global traders
Final Verdict
XM is the best forex broker for beginners thanks to its educational resources and micro accounts. Experienced traders may want tighter spreads elsewhere.
Frequently Asked Questions
Is XM a good forex broker for beginners in 2024?
XM is often considered suitable for beginners due to its extensive educational resources including webinars and tutorials. Their micro account options also allow new traders to start with smaller investments and lower risk. This helps new forex traders gain experience without significant capital commitment.
How much does it cost to trade with XM?
XM offers competitive pricing with spreads starting from 0.6 pips on major currency pairs. They do not charge commission on their standard and micro accounts, meaning the primary cost is embedded in the spread. Specific costs can vary based on account type and trading instrument.
What are the best alternatives to XM for forex trading?
Popular alternatives to XM include brokers like IC Markets, Pepperstone, and FBS, which also offer competitive spreads and various account types. These brokers are often chosen based on specific trading needs such as regulatory jurisdiction, platform preference, or asset availability. Researching each broker's fee structure and supported platforms is recommended.
Is XM Global safe for forex trading?
XM Global operates under various regulatory licenses depending on the entity, such as CySEC in Cyprus and ASIC in Australia, which provides a level of client protection. They segregate client funds from company funds to enhance security. Traders should verify the specific regulatory body overseeing their account based on their region.
Which traders benefit most from using XM?
XM is best for traders seeking a broker with comprehensive educational materials and flexible account types, particularly micro accounts for smaller investments. It also appeals to traders who prioritize competitive spreads and a wide range of tradable instruments. Both new and experienced traders can find suitable conditions with XM.