Regulated By: CySEC, FCA, ASIC
XM Review & Author's Comment
Is XM reliable? XM spreads, XM regulation, XM account types. I am going to clarify all those topics in this XM review. Keep reading. You have probably seen ads of XM all over the internet. It doesn’t matter whether it is a finance site or cooking recipes site, XM’s ad is going to be bothering you. So the company is a big one and apparently has lots of money. They are very proud of being Usain Bolt’s official sponsor.
I believe that XM is among the most professional and respected brokers in the industry. Fast execution, generous bonuses, regulated by very respected watchdogs, transparent, reliable, great daily analysis material, extensive educational content, nano account option and customer support in more than twenty languages. Add around ten years of investment services experience to those features and XM becomes a real gem in an industry where a new scam company appears every day. Therefore XM is one of my favorite forex brokers and where I do majority of my trades.
Is XM reliable?
The short answer is “Yes, XM is a reliable forex broker.” XM is registered regulated by FCA in the UK, CySEC in Cyprus and ASIC in Australia. Those are some of the most respected and strict financial authorities in the world. Forex brokers regulated by FCA are obliged to participate Financial Services Compensation Scheme (FSCS) which secures client funds up to $85.000. CySEC mandates forex broker for a similar insurance scheme whereas ASIC requires forex brokers within its jurisdiction to keep client funds in segregated account.s.
XM Account Types
XM clients can enjoy the convenience of three different account types; Micro Account, Standard Account and Zero Accounts. Micro Account is the most useful for novice traders or for the traders who like to try a new trading strategy / EA without risking a lot of money. Minimum contract size on Micro Account is 10 in comparison to 1000 on standard forex trading accounts. Spreads on all major pairs go as low as 1.0 pip and minimum deposit amount is $5. Traders can choose among USD, EUR, GBP, CHF, AUD, HUF and PLN for the account currency.
Minimum deposit amount for is $5 and spread for all major pairs goes as low as 1.0 pips on Standard Account type. On the other hand, major pair spreads could go as low as 0.0 pips on Zero Accounts but a certain amount of commission charged for each trade in return of this convenience. You need to deposit at least $100 in order to be able to open a Zero account.
XM Customer Support
XM offers customer support in more than twenty languages; Arabic, Bulgarian, Chinese, Czech, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Iranian, Japanese, Korean, Malaysian, Polish, Portuguese, Romanian, Russian, Spanish, Thai, Turkish, Urdu. Live Chat is available for 24 hours. The agents are very helpful and supportive. The Broker web site comes with an extensive Research and Education page where you can find daily market analysis, analysis tools, educational videos and tutorials.
XM Trading Platforms
Both MetaTrader 4 and MetaTrader 5 are offered by XM to its clients. MetaTrader is preferred by many forex traders because it is easy to use and allows traders to trade with built-in and self-made automated systems. Further, MetaTrader comes with more than thirty technical indicators which would help traders to make high odd trades.
XM Withdrawal and Deposit Methods
XM puts more than ten methods of deposit and withdrawal under disposal of its clients. In addition to international bank transfer and credit card which has become industry standards as deposit and withdrawal methods, XM clients can use various other methods such as Neteller, Skrill, UnionPay, Web Money, iDeal, Moneybookers, MoneyGram, Sofort and Western Union.
One important detail which makes XM even more favorable is that the Broker covers international wire transfer commission of its own part which considerably reduces the withdrawal cost.
XM Trading Instruments
Forex pairs, stocks, commodities, equity indices, precious metals, energies and cryptocurrencies are the markets that can be speculated on by XM clients. Leverage for cryptocurrencies is 2:1 while it can go as high 888:1 for forex pairs. However, please note that if you open your account under CySEC regulation, maximum leverage you could get would be 30:1.
XM Bonus and Promotions
- $30 Trading Bonus – This is a non-withdrawable bonus only available to new clients. The best thing is that you dont have to deposit money into your account in order to be able to become eligble for this bonus and All profits that you earned can be withdrawn.
- 55% Deposit Bonus – Your account is instantly credited 55% of the amount you deposited. This bonus works for the amounts up to $500 or equivalent.
- 20% Deposit Bonus – Your account is instantly credited 20% of the amount you deposited. This bonus works for the amounts up to $4500 or equivalent.
- Zero Fees on Deposits & Withdrawals – XM covers all the commission and fees for your deposits and withdrawals. All e-wallets – 100% covered; all major credit cards – 100% covered; wire transfers above 200 USD covered.
XM Review Final Word
Being founded in 2009, XM has the essential experience and services to provide traders a secure, state of the art and convenient trading environment. The Broker is regulated by three major watchdogs of the industry and financially very strong. I recommend XM to traders with any experience level without any hesitation.
Regulated by three reputable forex regulators. Pays withdrawal fee on its side. Generous bonus and promotions. Great customer support in many languages.
User Review( votes)
|Adress:||Citypoint Building 1 Ropemaker Street EC2Y 9HT London, UK|
|Regulator:||CySEC (license number 120/10), ASiC (number 443670) and FCA (reference number 705428)|
|Cryptocurrencies:||Bitcoin, Dash, Ripple, Litecoin, Ethereum|
|MAM / PAMM Account:|
|Funding Methods:||Wire Transfer, Credit Card, Neteller, Skrill, UnionPay, Web Money, iDeal, Moneybookers, MoneyGram, Sofort, Western Union|
|Withdrawal Methods:||Wire Transfer, Credit Card, Neteller, Skrill, UnionPay, Web Money, iDeal, Moneybookers, MoneyGram, Sofort, Western Union|
|24 Hours Support:|
|Languages:||Arabic, Bulgarian, Chinese, Czech, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Iranian, Japanese, Korean, Malaysian, Polish, Portuguese, Romanian, Russian, Spanish, Thai, Turkish, Urdu|
|Spreads:||As low as 0.0 for EURUSD at Zero account|
|Negative Balance Protection:|
1) $30 Trading Bonus. This is a non-withdrawable bonus only available to new clients. The best thing is that you dont have to deposit money into your account in order to be able to become eligble for this bonus and All profits that you earned can be withdrawn.
2) 55% Deposit Bonus - Your account is instantly credited 55% of the amount you deposited. This bonus works for the amounts up to $500 or equivalent.
3) 20% Deposit Bonus - Your account is instantly credited 20% of the amount you deposited. This bonus works for the amounts up to $4500 or equivalent.
4) Zero Fees on Deposits & Withdrawals - XM covers all the commission and fees for your deposits and withdrawals. All e-wallets - 100% covered; all major credit cards - 100% covered; wire transfers above 200 USD covered.
|Supported Platforms:||Metatrader 4, Metatrader 5|