XM is one of the largest and most recognisable investment companies, holding a leading position in the forex market.
Briefly about the broker
Year of foundation: 2009
Official site: https://www.xm.com
Which countries regulate: Belize, Cyprus, Australia and more
Minimum deposit: 5 USD
Spread from: 0 points
Max. leverage: 1: 888
Trading assets:
- Forex
- Indices
- Stock
- Raw material
- Copy trading MT4
- Copy trading MT5
- MetaTrader 5
- MetaTrader 4
Email support:
support@xm.com
ausupport@xm.com (for Australian residents)
Hotline phone:
+5012236696
+612 8607 8385 (for Australian residents)
The official website www.xm.com is available in 24 languages, including:
- Russian
- Malay
- Chinese
- Korean
- Greek
- Italian
- Bahasa
- French
- Portuguese
- English
- Turkish
- Polish
- Spanish, etc.
XM broker scam?
Broker XM is one of the largest forex companies in Europe with over 500,000 clients worldwide. It offers very flexible trading conditions, its many years of experience, an abundance of bonus programs and an impeccable reputation.
In the face of strong competition between brokerage firms offering forex trading services, XM Group decided to position the company's services as the most reliable and safe. To do this, XM Group enlisted the support of financial regulators such as AFM, FCA, CySEC . The company is also a member of the Financial Loss Compensation Fund. Let's try to figure it out: is the XM broker a scam or a worthy company?
XM Trading Terms
There are several types of trading accounts for clients:Micro
A cent account suitable for beginner traders. Allows you to test various strategies in real trading conditions. The minimum deposit is $5. Contract size: 1 lot = 1000. The smallest trade volume is 0.01 lots for MT4 and 0.1 lots for MT5. The limit on lots per ticket is 100 lots.
Standard
An account for experienced traders who want to use the basic functionality of the platform. As in the previous option, 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+). The limit on lots per ticket is 50 lots.
XM Ultra Low
An account designed for more experienced traders. It is divided into Standard Ultra and Micro Ultra. The minimum deposit is $50. The spread for all major pairs starts from 0.6 pips.
Shares
Account for advanced traders. Unlike other options, there is a commission on this account. The minimum deposit is $200. The smallest transaction volume is 1 lot. The maximum number of open positions is 50. The spread is subject to the conditions of individual exchanges.
Open an account
xm platform
Brokers try to provide their clients with comfortable conditions for trading. That is why the company uses two of the most popular trading platforms - MetaTrader 4 and MetaTrader 5.- more than 1000 available tools;
- using 1 login form on 8 platforms;
- low spreads from 0 pips;
- full functionality of advisors;
- trading in one click;
- three types of charts available;
- position hedging;
- VPS service.
- more than 1000 tools;
- 1 account for 7 platforms;
- low spreads from 0.6 points;
- full support for advisors;
- support for all types of orders;
- more than 80 tools for technical analysis;
- hedging support.
Broker quotes
Neither the xm.com site nor the Internet has any data on where the broker takes its quotes from.
XM demo account
For traders who are new and want to test their potential, a demo account has been created. The user can trade with virtual funds, try strategies and all the functionality of the platform and risk nothing at the same time ( forex trading training ). |
| XM account registration |
Mobile app
In order for users to have full access to the platform at any time, mobile versions of the MetaTrader 4 and MetaTrader 5 trading platforms have been created. The application allows trading 24/7, even if the client does not have access to a computer or laptop.
Account replenishment and earnings withdrawal
Replenishment of the account and withdrawal of earnings can be carried out using a bank transfer, as well as Visa or Mastercard. The service supports most payment systems. You can withdraw funds to the account from which the deposit was made. The broker provides zero commissions for all operations related to depositing and withdrawing money.Bonuses
The broker has developed a number of bonuses for its clients.Welcome Bonus
Each new user can receive a welcome bonus, which allows you to start trading and make profit immediately after opening an account. For each standard lot, the client receives a $10 credit bonus upon closing the position, which gives them full control over the size of the bonus. To apply for a bonus, you must specify the number of lots and the equivalent amount that the user wants to transfer to the bonus, after which the bonus will be credited to the trading account. The client can withdraw all the profit received at any time, in turn, trading bonuses will be cancelled in proportion to the amount of allocated funds.Promotion in honor of the 10th anniversary
In honor of the company's 10th anniversary, the client has the opportunity to take part in the promotion and receive up to $10,000. To participate, you must open and validate an account with a balance of at least $500 or the equivalent in another currency, and register your participation in the promotion. After these actions, the user needs to make trading operations in the amount of at least 3 full standard lots or 300 full micro lots for transactions with Forex currencies, gold or silver.Thus, the client receives 1 ticket for the monthly lottery and 1 ticket for the grand lottery. For every additional full standard lots in the volume of 1 (or 100 full micro lots) of trading volume, the trader receives an additional ticket for the monthly lottery + additional tickets for the grand lottery. You can collect an unlimited number of tickets. Next, among the tickets, the winners who receive the prize fund are raffled off. For example, in November there are 50 winners.
Loyalty program
All accounts that are activated on the exchange are assigned the status of Executive, which is automatically increased after the activity on the exchange, namely the implementation of trading. With each increase in the level of loyalty, the amount of XMP (XM points) that the client earns for each lot of completed transactions increases proportionally. Thus, the client begins to earn XMP faster. The more XM points a user has, the greater the amount of credit bonuses he can receive. The bonus goes directly to the trading account, from where it can be used for trading.Zero fees for deposits and withdrawals
The broker pays all commissions for withdrawing and depositing funds through Neteller, Moneybookers payment systems, as well as through all popular credit cards (VISA, VISA Electron, MasterCard, Maestro and China UnionPay). What's more, there's no commission on all deposits and withdrawals over $200 that are made via bank transfer. All payment methods are fully automated. This means that the deposited funds are instantly credited to the clients' accounts.XM VPS service
Customers with a balance of at least $5,000 or an equivalent amount in another currency can activate the VPS service for free at any time. You can activate the service in your personal account, 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 to connect to the XM VPS service for a monthly fee of $28.The advantage of the service is that it allows you to remove negative factors such as Internet connection speed, computer problems and power outages. With the help of XM's VPS service, the client can turn on the advisors for uninterrupted and non-stop operation and relieve himself of the need to monitor them.
affiliate program
Complaints against HM Group
On the net you can find enough reviews about XM. 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 company broker, holding systematic promotions, contests and other activities to attract more people to bid. Those who open or replenish their own account are offered a whole system of the so-called loyalty bonus, when up to 30% bonus surcharges are added to the deposit. Despite the fact that the company focuses on round-the-clock support, however, as practice shows, this statement is more of an advertising nature and does not correspond to reality. Some reviews from the company's customers note technical support, which is sometimes quite slow to respond,
Broker Regulator
XM Group is a major broker whose activities are regulated by law. XM is licensed to operate by the Australian Securities and Investments Commission (license number 443670) and XM Cyprus operates under the requirements of the Cyprus Securities and Investments Commission (license number 120/10). Trading Point of Financial Instruments UK Limited is licensed by the UK Financial Services Authority (FRN: 705428).xm.com User Agreement
The "User Agreement" is the main document on the xm.com website , which every client must read before starting cooperation with the platform. The agreement also contains the obligations of both parties. Let's consider some points in more detail. The rules state that the client acknowledges, understands and accepts that the broker reserves the right, in its reasonable discretion, to refuse to accept an entry into a trade if any of the following conditions apply:- the relevant 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 considers necessary);
- the client has exceeded any limit;
- the broker has reasonable grounds to believe that the trade order did not come from the trader;
- in case of force majeure;
- when following an instruction, the client or a company associated with it violates applicable laws and regulations;
- the company wants to test the user manual for some reason.
 |
| XM user agreement |
Without prejudice to any other provision of the agreement, the company makes no warranty, express or implied, 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 is not responsible for any costs or damages arising directly or indirectly from access to or use of the online trading platform. The trader alone is solely responsible for evaluating the accuracy, completeness and usefulness of all information, opinions, products, services, goods and other information provided through the site.
 |
| xm.com Trader's Responsibility |
The document also contains information about force majeure circumstances.
 |
| XM Group force majeure situations |
XM is a scam?
The XM broker website is multilingual and has a clear interface. There are currently 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 their own training using video courses.If you are still looking for a reliable and safe trading company, you should take a close look at XM (customer reviews are available below). This is one of the reputable organization's working in the field of forex trading (find out the whole truth about forex here ) and CFD (check out the current rating of CFD brokers 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 this: assets for every taste (currencies, indices, commodities, metals, CFDs, etc.), platform security (the company has seriously worked out the issue of regulation and has more than one license, strictly complying with the norms of the law, which only attracts its customers), brand popularity in more than 190 countries of the world, quality of service (company employees speak the languages of customers, provide professional assistance and advice, know their users and partners very well). One of the reasons for the resounding success is the ability to pay maximum attention to speculators, offering them favorable working conditions. Here, each user expects the same quality service and all the variety of opportunities for generating income. Such principles are fundamental for the company, which adheres to them year after year.
The quality of the official site xm.com (you can read the reviews of traders about it below) also inspires only the trust of speculators: it has support for all common languages of the world (including the Russian version of the platform), there is a maximum of useful reference material (news, transaction analytics, etc.), which is designed to improve the quality and effectiveness of trading. After analyzing in detail the opportunities implemented by the platform, can we conclude that the XM Group is a scam and scammers? No, as the broker operates on the basis of the legal framework and successfully provides its services to users around the world. The activity of the broker is not satisfactory and you can work with it, using flexible trading conditions and the availability of all the necessary options for trading. We definitely recommend XM to you!
Conclusion
XM Group is an established organization that started its activity 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 develop rapidly. For traders, work with more than 1000 trading instruments, charts and analytics is provided. The exchange is suitable for both experienced traders and beginners. However, trading itself is a risky process, so before starting cooperation, you should carefully read the documentation and rules. 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 rating of brokers.
Post a Comment