XM Review crypto broker 2024

Our veredict

XM is a well-established broker offering a diverse range of financial instruments, including over 30 cryptocurrency CFDs. Regulated by top-tier authorities such as CySEC and ASIC, XM ensures a high level of security and trust for its users. The platform provides competitive spreads, starting as low as 0.6 pips for Ultra Low accounts, and leverage options up to 1:1000 for certain jurisdictions. This makes XM particularly attractive to traders seeking high leverage and a broad array of tradable assets. The minimum deposit is a modest $5, making it accessible for beginners. However, the broker does not accept clients from the U.S., Canada, and some other regions, and crypto CFDs are not available to UK clients due to FCA restrictions.

Despite its strengths, XM has some limitations. It offers only cryptocurrency CFDs, not physical crypto trading, which might not appeal to all crypto enthusiasts. Additionally, its asset selection, while broad, is not as extensive as some competitors. Dormant fees are also charged after three months of inactivity, which could be a drawback for less active traders. Nonetheless, XM remains a solid choice for those looking to trade cryptocurrencies alongside other financial instruments, particularly if they are seeking a regulated broker with robust security measures.

Pros

Regulated by top authorities XM is regulated by reputable regulatory bodies such as CySEC and ASIC, ensuring a secure and compliant trading environment for users.
Low minimum deposit With a minimum deposit of just $5, XM makes it easy for traders with different budget levels to start trading, making the platform accessible for beginners.
Negative balance protection XM provides negative balance protection, ensuring that traders cannot lose more than their deposited funds, which adds an extra layer of financial security.

Cons

3,5

Threenvest Score

Fees

4/5

Regulated

ASIC, CySEC, IFSC

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To better understand our editorial guidelines and the investment methodology that supports our ratings, you can explore the information in our editorial policy.

Why choose XM?

Choosing XM as your cryptocurrency trading platform can be a smart decision for several compelling reasons. Firstly, XM’s strong regulatory framework ensures that it operates under stringent guidelines set by top-tier authorities such as CySEC and ASIC. This not only provides a secure trading environment but also assures traders that their funds are protected and that the broker adheres to high standards of financial integrity.

Additionally, XM offers a variety of account types and a low minimum deposit requirement of just $5, making it accessible to traders with different budget levels. The platform supports over 30 cryptocurrency CFDs, allowing traders to speculate on the price movements of popular digital assets without owning them. The availability of high leverage up to 1:1000 (depending on jurisdiction) also means that traders can maximize their potential returns on investment, though it should be used cautiously due to the associated risks.

Another significant advantage of XM is its commitment to client support and education. The platform provides robust customer service through multiple channels, ensuring that help is always available when needed. Furthermore, XM offers extensive educational resources, including webinars and market analysis, which can be particularly beneficial for beginners looking to enhance their trading skills and knowledge.

Xavier Tarrasó

EIP and Cryptocurrency Investor

As an expert on our site, I can confidently recommend XM for cryptocurrency trading. The platform offers a secure and regulated environment, supported by top-tier authorities like CySEC and ASIC. With a low minimum deposit of $5 and high leverage options up to 1:1000, it caters to both beginners and experienced traders. The wide range of cryptocurrency CFDs, along with robust customer support and educational resources, makes XM a versatile and reliable choice for trading digital assets.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

Alejandro Borja Fuentes

Economist | Cryptocurrency exchange analyst

The author of the review

Alejandro Borja is an accomplished economist with a distinguished career spanning various facets of the financial industry. His academic journey began with a degree in Economics, laying the foundation for his deep understanding of financial markets.

Over the years, Alejandro has honed his skills by working with some of the largest financial media outlets, analyzing and reporting on economic trends and investment opportunities. His expertise in financial analysis has made him a respected voice in the economic community.