XM Review – is XM Scam or Legit Broker?

XM

3.9

Rating

3.9/5

Pros

  • Wide Selection of educational tools
  • FCA, MiFID, CySEC, ASIC law
  • 300 fiscal tools

Cons

  • Inactivity charge of 5
  • No USA traders

XM is a fully licensed and regulated Forex broker. The business is licensed to provide FX trading services by the FCA, ASIC and CySEC. With customers in 196 states and surgeries across 120 cities around the Earth, XM is now really a worldwide provider of Forex trading.

Overview/ desktop

XM.com trades under the title Trading Point Holdings Limited, together with enrollment #HE322690, accredited in Limassol, Cyprus. The business is fully licensed and governed by the Cyprus Securities and Exchange Commission using permit #120/10. It’s likewise fully documented to provide financial trading at the United Kingdom, with the FCA, mention number 538324. XM has won multiple awards over the years including Best FX provider for 20 17, Industry Selection of World Finance 100, and also the Best Local Customer Service 2016 from FX 168. XM prides itself having functioned 1million customers all over the globe. A vast assortment of trading currency applications is available, together with major pairs, little pairs, along with exotic pairs.

Account Types

XM includes several account types, such as a Micro Account, a Standard Account, along with also an XM Zero Account. These accounts kinds Appeal to particular Kinds of traders, together with the subsequent specifications:

Micro Account

  • A minimum deposit of 5 together with hedging, together with optional Islamic accounts, spreads as little as 1 pip, leverage as large as 1:500, and also a contract bunch size of 1000. Base currency options comprise ZAR, SGD, RUB, GBP, EUR, USD and many others.
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Standard Account

  • A minimum deposit of 5 using optional Islamic accounts, hedging up to 200 rankings max, spreads as little as 1 pip, leverage as large as 1:500 and base money options for example the CHF, GBP, EUR, USD, AUD, ZAR and SGD.

XM Zero Accounts

  • These reports require a minimum deposit of 100, together with optional Islamic accounts accessibility and settlement granted. The minimum trade volume will be 0.01 lots, and traders may start around 200 rankings max.commission is comprised and spreads all significant pairs are equally low as 0%. Maximum leverage is 1:500 and the bottom money options incorporate the EUR, JPY and USD.

Traders could start a demo account with a $100,000 virtual balance, or even perhaps a real money account using A25 trading bonus.

Trading Platform/ applications

The trading programs in XM comprise MetaTrader 4, without a rejections without a requotes. Leverage ranges from as few as 1:1 completely up to 500:1. MetaTrader 4 allows one log in with up to 8 programs, together with spreads as little as 0 g along with some 300 tools out there. MT4 is readily available for Mac, PC, multi-terminal, WebTrader, iPhone, Android, iPad, along with Android tablet computer. MetaTrader 5 – 5 MT 5 is one platform using 6 stock classes out there. A few 80 analytical items are contained with the stage and the most recent amount quotes are given. The whole quantity of financial tools available is 300, and such comprise Forexstocks, indices, commodities and CFDs. The most significant gap medially MT4 and MT 5 is that MT4 is a Forex trading platform, even whilst MT5 is targeted towards multi-asset trading. Smartphone trading is found in XM, by simply downloading the application form on Android and also iOS apparatus.

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Deposit options

Currency traders have accessibility to a vast selection of deposit methods in XM. Included in these are: Visa, Visa Electron, MasterCard, Maestro, Diners Club International, Union Pay, Neteller, WebMoney, Skrill, Sofort, iDeal, GiroPay, Boleto, OXXO, bank wire transfer, along with neighborhood financial transport.

At XM, there’s not any minimum deposit required for that typical accounts along with your micro account. But, there’s a $5 minimum for electronic financing that’s on Neteller, Moneybookers, Skrill and charge cards.

Bonuses

Currency traders are going to have the ability to take pleasure from multiple trading bonuses, including deposit bonuses, and Forex World Championship Bonus supplies and Loyalty Program provides, and amongst others. The subsequent promotional supplies are offered at the time of composing:

  • 25 trading incentive (for new customers only and all benefits left could be removed )
  • 50 percent deposit up to $500 20percent deposit bonus up to $5,000
  • Win $50,000 at the 1 billion Forex World Championship each month
  • Enjoy exclusive Bonuses along with seasonal bonuses together with all the XM loyalty app
  • Free VPS Services

Customer Support

Customer service is found in 5 nations. These include Greece, Australia, Cyprus, Hungary, and also the United Kingdom. The UK cell phone number is 44-2031-501-500. Customer care is obtained 24/5 GMT. There are mobile, facsimile and email addresses such as service desk, bookkeeping, affiliate department, individual resources, back office, working room, sales department, and also PR enquiries.

Safety

Safety & security will be a priority in XM. This FX trading platform is completely licensed and governed by multiple governments for example CySEC, ASIC, FCA plus it functions in compliance with the European Union’s Markets in Financial Instruments Directive (MiFID). The ethics of customer accounts is guarded in any way times, together with SSL technology, and also the maximum encryption protocols.

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Ease of Use

XM is userfriendly, and all characteristics of this trading platform might be retrieved from the upper left of this screen with the dropdown menu. As a whole, you can find 300 trading tools, spreads as much as 0%, 16 trading programs (XM WebTrader, MT4 and MT5), as well as $5,000 in bonuses. Participants can quickly deposit funds, draw funds, switch medially programs, like Forex webinars and conferences and conduct extensive marketplace research with the broad assortment of applications out there. Full fundamental and technical analysis is potential, together with Forex calculators included as well.

Final Thoughts

XM is an industry pioneer in Forex trading. FX traders may enjoy the demo account a real money account at the click of a single button. Merely traders from regulated authorities can enroll at XM and trade to get a real income. The customized MT4 platform is based really on the currency, whatever money you’re utilizing.

Internet Site:
www.xm.com
Telephone:
357 25029933
Legislation:
FCA (UK), CySEC, ASIC (Australia)
Pairs provided:
5 7 Pairs with many majors & minors
Minimum Deposit:
$5
Spreads From:
1.7 PIPs
Max Leverage:
888:1
Markets:
Forex Trading & CFDs Online Stocks, Commodities, Indices & Energies