XM

Broker XM is one of Europe’s largest forex companies with more than 500,000 clients worldwide. It offers very flexible trading conditions, its many years of experience, an abundance of bonus programs and an impeccable reputation.

Amidst the strong competition between the brokerage firms offering forex trading services, XM Group decided to position the company’s services as the most reliable and secure. For this purpose, XM Group enlisted the support of financial regulators such as AFM, FCA, CySEC. The company is also a member of the Financial Compensation Fund. Let’s try to get to the bottom of this: broker XM is a scam or a worthy company?

 

 

Terms of trade XM

Several types of trading accounts are available for clients:

Micro

Cent account, which is suitable for novice traders. Allows to test various strategies in real trading conditions. Minimum deposit amounts to $5. Contract size: 1 lot = 1,000. The smallest deal volume is 0.01 lot for MT4 and 0.1 lot for MT5. Limitation on lots per one ticket is 100 lots.

Standart

The account is for experienced traders who want to use the basic functionality of the platform. As in the previous variant, the minimum deposit is $5. Contract size: 1 lot = 100,000. Leverage – from 1:1 to 1:888 ($5 – $20 000), from 1:1 to 1:200 ($20 001 – $100 000), from 1:1 to 1:100 ($100 001 +). Limitation on lots on one ticket – 50 lots.

XM Ultra Low

An account designed for more experienced traders. It is divided into Standart Ultra and Micro Ultra. Minimum deposit amounts to $50. Spread on all major pairs starts from 0.6 pips.

Shares

An account for advanced traders. Unlike other options, there is a commission on this account. The minimum deposit is $200. The smallest volume of transactions – 1 lot. The maximum number of open positions – 50. Spread according to the conditions of individual exchanges.

 

Platform xm.com

Brokers try to provide their clients with comfortable conditions for trading. That’s why the company uses two most popular trading platforms – MetaTrader 4 and MetaTrader 5.

The MetaTrader 4 platform is the leader trusted by traders around the world. It has a wide range of tools, various indicators, signals and strategies for successful trading (The whole truth about forex). The platform can be used both as software and as a web page, which almost entirely retains the available functionality. Features of MT4:

• more than 1,000 tools available;
• Using 1 data form to enter 8 platforms;
• low spreads from 0 pips;
• full-featured functionality of Expert Advisors;
• one-click trading;
• three types of graphs available;
• position hedging;
• VPS service.

MetaTrader5 presents a more advanced version of the platform, which includes all the advanced features provided in the MT4 version and also makes it possible to trade 1000 CFDs on stocks, making it the ideal platform for trading most assets. As with the previous version, the platform can be used online or downloaded to your computer or phone. Features of MT5:

• more than 1,000 tools;
• 1 account for 7 platforms;
• low spreads from 0.6 pips;
• full support for advisors;
• support for all types of orders;
• more than 80 tools for technical analysis;
• hedging support.

Broker quotes

Not on the website xm.comThere is no data either on the Internet about where the broker gets its quotes from.

 

XM demo account

For traders who are beginners and want to try out their potential, a demo account was created. The user can trade virtual funds, try out strategies and the entire functionality of the platform without risking anything (Forex Trading Training).

 

Mobile application

Mobile versions of the MetaTrader 4 and MetaTrader 5 trading platforms were created to give users full access to the platform at any time. The application allows trading 24/7, even if the client does not have access to a computer or laptop.

 

Deposit and withdrawal

Deposit and withdrawal of earnings can be made by bank transfer, as well as by Visa or Mastercard. The service supports most payment systems. The withdrawal can be made to the account from which the deposit was made. The broker offers zero commissions for all operations related to deposit and withdrawal.

 

Bonuses

The broker has developed a number of bonuses for its customers.

Welcome Bonus

Every new user can get a welcome bonus, which allows you to start trading and making profit immediately after opening an account. For each standard lot, the client receives a credit bonus of $10 after the position is closed, which gives the client full control over the amount of the bonus. To apply for the bonus, you must specify the number of lots and the equivalent amount that the user wants to transfer into the bonus, and then the bonus will be credited to the trading account. The client can withdraw all profits received at any time, in turn trading bonuses will be cancelled in proportion to the amount of allocated funds.

 

Campaign in honor of the 10th anniversary

To celebrate the 10th anniversary of the Company, customers have the opportunity to participate in the promotion and receive up to $10,000. In order to take part in the promotion, it is necessary to open and confirm an account with at least $500 or equivalent in another currency on its balance and to register for the promotion. After these actions, the user must execute trades of not less than 3 full standard lots or 300 full micro lots of forex, gold or silver.

Thus, the client receives 1 ticket for the monthly lottery and 1 ticket for the grand lottery. For each additional full standard lot in the volume of 1 (or 100 full micro lots) of the trading turnover, the trader receives an additional ticket for the monthly lottery + an additional ticket for the grand lottery. An unlimited number of tickets can be collected. Next, winners are drawn among the tickets and receive a prize fund. For example, there are 50 winners in November.

Loyalty Program

All accounts that are activated on the exchange are assigned Executive status, which automatically increases after showing activity on the exchange, namely trading. With each increase in the loyalty level, the amount of XMP (XM points), which the client earns for each lot of transactions made, increases proportionally. Thus, the client starts earning XMP points faster. The more XMP points a user has, the higher the amount of credit bonuses he can get. The bonus goes straight to the trading account, from where it can be used for trading.

 

Zero deposit and withdrawal fees

The broker pays all fees for withdrawals and deposits via Neteller, Moneybookers, as well as via all popular credit cards (VISA, VISA Electron, MasterCard, Maestro and China UnionPay). Moreover, the commission is not charged for all deposit and withdrawal operations over 200 US dollars which are made by means of bank transfer. All deposit methods are fully automated. This means that deposited funds are instantly credited to customers’ accounts.

VPS service from XM

Clients with an account balance of at least $5,000 or the equivalent amount in another currency may activate the VPS service free of charge at any time. You can connect the service in your personal cabinet, provided that the client’s trading volume is at least 5 full lots per month or 500 full micro lots per month. Those users who do not meet the above conditions can also request the XM VPS service for a monthly fee of $28 USD.

The advantage of the service is that it allows to remove such negative factors as the speed of the Internet connection, computer problems and power outages. With the help of VPS service from XM the client can turn on the advisors for uninterrupted and non-stop work and relieve himself from the need to monitor them.

Affiliate Program

For those users who want to earn passive income, an affiliate program was developed. Thus, a client can invite new traders to the project and receive up to $25 per referral lot. Also provides earnings of 10% for referrals of the 2nd level.

 

Complaints against the KM Group

There are enough reviews about XM on the web. There are no requotes, hedging is allowed, there is the possibility of automatic trading, and through the phone. It should also be noted that Xm Group offers itself as a brokerage company, holding systematic promotions, contests and other events to attract more people to participate in trading. Those who open, or replenish their own account, are offered a whole system of so-called loyalty bonus, when up to 30% bonus is added to the deposit. Despite the fact that the company focuses on round-the-clock support, however, as practice shows, this statement has more of an advertising nature and does not correspond to reality. Some feedback from the company’s customers notes technical support that is sometimes quite slow to respond, but this should be seen as a time-correctable problem.

If there are any complaints about XM, we will be sure to post on social media. Sign up to stay up to date.

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Broker regulator

XM Group is a major regulated broker. XM is licensed by the Australian Securities and Investments Commission (Licence Number 443670) and XM Cyprus complies with the Cyprus Securities and Investments Commission (Licence Number 120/10). Trading Point of Financial Instruments UK Limited is licensed by the Financial Services Authority (FRN 705428).

Check your XM license on the CySEC website
Check your XM license on the FCA website
Check the XM license on the ASIC website

xm.com User Agreement

“User Agreement” is the main document on the site xm.com. The agreement contains the responsibilities of both parties. The agreement also contains the responsibilities of both parties. Let’s consider some points in detail. The rules specify the information that the client acknowledges, understands and accepts the fact that the broker reserves the right at his reasonable discretion to refuse to accept the entry into the transaction if any of the following conditions are applicable:

• the corresponding underlying market is not open for trading;
• the user does not have enough funds in the account to cover the cost of the transaction (including all commissions, fees, taxes and any amount in addition to the current price of the instruments that the company deems necessary);
• the client has exceeded any limit;
• the broker has reasonable grounds to believe that the indication for the trade did not come from the trader;
  in case of force majeure;
• the customer or a related company violates applicable laws and regulations in carrying out the instruction;
• company wants to check the manual with the user for some reason.

Without prejudice to any other provision of the agreement, the company makes no express or implied warranty of merchantability, fitness for a particular purpose, or non-infringement. The Online Trading Facility is available on an “As Is” and “As Available” basis. The broker shall not be liable for any costs or damages arising directly or indirectly from accessing or using the online trading facility. The trader alone is directly responsible for evaluating the accuracy, completeness and usefulness of all information, opinions, products, services, merchandise and other information provided through the site.

The document also contains information about force majeure.

 

Is XM a Scam?

The website of XM Broker is multilingual and has a clear interface. At the moment there are 22 possible language options. The main page is not overloaded with information, everything is clear and to the point. If desired, a trader can use the economic calendar, subscribe to receive information about free Forex signals or start his own training with the help of video courses.

If you are still in search of a reliable and safe company for trading, you should take a closer look at XM (customer reviews are available below). It is one of the reputable organizations working in the field of forex trading (learn the whole truth about forex here) and CFDs (check the current CFD broker rating here). Today the broker has a large base of active speculators around the world – more than 1% million people who have entrusted their capital and time to the organization.

Why XM? There are several reasons for that: assets for every taste (currencies, indices, commodities, metals, CFD, etc.), platform security (the company has taken the issue of regulation seriously enough and has more than one license, strictly following the law, which only attracts customers to it), brand popularity in over 190 countries, service quality (company employees speak the clients’ languages, provide professional help and advice, know their users and partners well). One of the reasons for the resounding success is the ability to pay maximum attention to speculators, offering them favorable conditions of work. Here every user expects the same quality service and all the variety of opportunities to generate income. Such principles are fundamental for the company, which adheres to them year after year.

Quality of the official website xm.com (you can read the reviews of traders about it below) also causes only trust of speculators: it has support for all widespread languages of the world (including the Russian version of the platform), there is a maximum of useful reference material (news, analytics transactions, etc.), which is designed to improve the quality and efficiency of trading. Having analyzed in detail the possibilities realized by the platform, is it possible to conclude that the company XM Group – is a scam and swindlers? No, because the broker operates based on the legal framework and successfully provides its services to users around the world. The broker’s activity does not cause any complaints and you can work with it by taking advantage of flexible trading conditions and availability of all necessary options for trading. We definitely recommend XM!

 

Conclusion

XM Group is an established organization that began its activities more than 10 years ago. During this period, the platform has attracted the attention of a large number of users around the world and continues to actively develop. Traders are provided with more than 1,000 trading tools, charts and analytics. The exchange is suitable for both experienced traders and beginners. However, trading itself is a risky process, so you should carefully read the documentation and the rules before you start cooperating. Now the project looks good among its competitors. If you were or are a client of XM Group – leave your independent opinion on our website to form an independent broker rating.