XM.com review 2020
Within the scope of this test we will go into our XM experiences in great detail. The broker offers a wide range of different underlying assets for CFD trading. Furthermore, XM convinces with very low spreads. As a customer you can choose between fixed and variable spreads. Furthermore, an account with commissions (and spreads from 0 pips) is also available. Furthermore, we took a closer look at XM’s various trading platforms for our test. We will also talk about our experiences with customer support and the training offered by the broker.
CFD Trading Offer: Wide range of tradable financial instruments
For our XM Test we first took a closer look at the broker’s trading offer. Experience shows that many traders often focus on currency pairs (Euro / US Dollar) or stock indices (DAX and Dow Jones Index) when trading CFDs. However, it is still positive if one of the brokers can provide the largest possible range of tradable financial instruments. This makes it easier for traders to diversify their trading account. This allows you to diversify and benefit from opportunities in multiple markets.
Overview of the XM trading offer
In our test we found out that the following financial instruments are available to you at XM:
- Forex: Our test showed that at XM 55 currency pairs are available for trading. This means that as a trader you can trade both the main currency pairs (for example Euro / US Dollar or British Pound / US Dollar) and the secondary currency pairs (for example Euro / Swiss Franc). There are also numerous exotic currency pairs available. One example is the US Dollar / Singapore Dollar.
- Indices: XM also offers the possibility of trading in numerous stock indices. Examples are the DAX, the Dow Jones Index and the S&P 500 Index.
- Shares: If you want to, you can not only trade with share indices, but also with individual shares. In this way you can also invest with CFDs in large companies such as Amazon, Google, Netflix and Facebook.
- Precious metals and commodities: XM also offers a wide range of precious metals and commodities for trading. In XM’s experience, these include gold, silver, oil, cotton and coffee.
As you can see, at XM you have many different financial instruments available for trading. In total, the number amounts to over 1,000. Therefore XM offers more in this point than many other providers. For this reason, the broker has earned a very good reputation in terms of its trading offer.
- Very large selection of different financial instruments
- These include in particular currencies, indices, equities, commodities and precious metals
- A total of over 1,000 financial instruments are available for trading
XM CFD experience with trading conditions: Very favourable spreads available
In a broker comparison or test, it is also very important to take a close look at the trading conditions of the provider. In our experience, the possible costs of CFD trading can be divided into three groups:
- Costs, which are incurred with every trade (for example through the spread or commissions)
- Fees for deposits and withdrawals
- Other costs
Our XM experience with spreads
As a trader, you should pay particular attention to the first mentioned costs. You have to pay these to the broker with every trade and can therefore add up (especially with an expensive provider). The brokers regularly charge these costs through the so-called spread. This is the difference between the purchase price and the selling price. Here is an example: If the spread is two points and you decide to buy the DAX at 12,200 points, you get the German leading index at a price of 12,202 points.
- XM offers different types of spreads: fixed
- variable and variable with commissions or commissions
- Spreads sometimes start as low as 0 pips
- In our experience
- the leverage of 1 : 30 is completely sufficient for CFD trading