XM Group is a well-regarded forex and CFD broker with a positive reputation among traders. Here’s a summary of what users consider XM’s pros and cons:
Pros:
- Regulation: XM is regulated by reputable authorities like ASIC (Australia), CySEC (Cyprus), and IFSC (Belize). This assures a level of security for client funds.
- Trading platforms: XM offers the popular MetaTrader 4 and MetaTrader 5 platforms, along with their own mobile trading app. MetaTrader is known for its user-friendliness, advanced charting tools, and automation capabilities.
- Educational resources: XM offers a variety of educational resources, including webinars, articles, and video tutorials. This can be helpful for beginners looking to learn the ropes of forex and CFD trading.
- Account types: XM offers a variety of account types to suit different trading styles and needs. Their Ultra Low account type is popular for its tight spreads, no commission fees, and fast execution.
Cons:
- High CFD risk: As with all CFD trading, there’s a high risk of losing money due to leverage. XM reports that 75.33% of retail investor accounts lose money when trading CFDs with them. CFDs are complex instruments and may not be suitable for all investors.
Overall, XM appears to be a solid choice for forex and CFD traders, particularly beginners who can benefit from their educational resources and user-friendly platform. However, it’s important to be aware of the high risks involved in CFD trading before you start.
Here are some resources for further reading on XM:
- XM review on BrokerChooser: XM Review
- XM review on Investing.com: XM Group Review