XM Broker Review

Is XM a scam?

XM Broker is regulated by multiple financial regulatory authorities, which helps ensure the safety of clients’ funds and trading activities. The regulatory bodies that oversee XM Broker include:

1. Cyprus Securities and Exchange Commission (CySEC)
2. Financial Conduct Authority (FCA) in the UK
3. Australian Securities and Investments Commission (ASIC)
4. International Financial Services Commission (IFSC) in Belize

Each regulatory body has specific requirements that XM Broker must adhere to, including maintaining segregated client accounts, providing negative balance protection, and conducting regular audits and financial reporting.

Additionally, XM Broker uses advanced security measures to protect clients’ personal information and trading activities, such as Secure Socket Layer (SSL) encryption technology and two-factor authentication.

Overall, XM Broker’s multiple regulatory licenses and advanced security measures provide clients with a high level of safety and security when trading on the platform.

XM Trading Platforms

XM Broker offers several trading platforms to suit the needs of different traders. The platforms include:

1. MetaTrader 4 (MT4): MT4 is a popular trading platform used by many traders worldwide. It is known for its advanced charting capabilities, algorithmic trading, and customization options.
2. MetaTrader 5 (MT5): MT5 is the newer version of MT4 and includes additional features such as more advanced order types and a larger selection of timeframes.
3. WebTrader: WebTrader is a web-based trading platform that allows traders to access their accounts and trade directly from their web browser without having to download any software.
4. Mobile Trading: XM Broker also offers mobile trading apps for both iOS and Android devices, allowing traders to access their accounts and trade on the go.

All of these platforms offer real-time market analysis, advanced charting tools, and access to multiple financial instruments, including forex, stocks, commodities, and indices. Additionally, traders can use various technical indicators and custom tools to help them analyze the markets and make informed trading decisions.

Products XM provides

XM Broker provides access to a wide range of financial instruments that traders can use to diversify their portfolios and take advantage of market opportunities. The products that XM offers include:

1. Forex: XM provides access to a broad range of forex currency pairs, including majors, minors, and exotics. Traders can trade these pairs on margin, allowing them to magnify their potential profits and losses.
2. Stocks: XM Broker offers trading in shares of many of the world’s largest publicly traded companies, including Facebook, Google, Apple, Amazon, and more.
3. Commodities: XM provides trading in a range of commodities, including precious metals like gold and silver, energy commodities like crude oil and natural gas, and agricultural products like coffee and wheat.
4. Indices: XM offers trading in a variety of stock market indices, including the Dow Jones Industrial Average, the S&P 500, the NASDAQ, and many more.
5. Cryptocurrencies: XM provides trading in cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

All of these products can be traded using multiple trading styles and strategies, including scalping, hedging, and swing trading, among others. Additionally, XM Broker offers leverage on most products, allowing traders to magnify their potential profits and losses.

XM account types

XM Broker offers several account types to suit the needs of different traders. The account types include:

1. Micro Account: This account type is designed for beginner traders who want to start trading with smaller amounts. The minimum deposit for a Micro account is $5, and it offers access to over 55 currency pairs and other financial instruments.
2. Standard Account: The Standard account is suitable for more experienced traders who want access to all of the financial instruments offered by XM. The minimum deposit for a Standard account is $5, and traders can use leverage of up to 1:888.
3. XM Zero Account: This account type is designed for advanced traders who want tighter spreads and faster execution speeds. The XM Zero account charges a commission per trade, but it offers spreads as low as 0 pips and allows traders to use leverage of up to 1:500.
4. Shares Account: This account type is designed specifically for trading stocks, with access to over 1,200 individual stocks from around the world. The minimum deposit for a Shares account is $10,000, and traders can use leverage of up to 1:10.
5. Islamic Account: XM Broker also offers Islamic accounts, which are designed to be compliant with Shariah law. These accounts do not charge or receive any interest, and they do not involve any swaps or rollover fees.

Each account type comes with its own set of benefits and features, including access to different trading platforms, trading tools, and account managers. Traders can choose the account type that best suits their trading style and experience level.

XM trading fees

XM Broker charges various trading fees, including spreads, commissions, and swap fees. The fees charged by XM can vary depending on the financial instrument being traded, the account type, and the trading platform being used. Here is a breakdown of the various trading fees charged by XM:

1. Spreads: XM charges variable spreads on most financial instruments, which is the difference between the bid and ask price. The spreads can range from as low as 0 pips on the XM Zero account to as high as 3 pips or more on other account types.
2. Commissions: The XM Zero account charges a commission of $3.5 per lot traded, while the Shares account charges a commission of 0.1% of the value of the trade.
3. Swap Fees: XM charges swap fees on positions that are held overnight. These fees can be either positive or negative, depending on the currency pair being traded and the direction of the position.
4. Inactivity Fee: XM charges an inactivity fee of $5 per month on accounts that have been inactive for more than 90 days.

It is important to note that XM Broker does not charge any deposit or withdrawal fees, and traders can use a wide range of payment methods to fund their accounts. Additionally, XM Broker offers several promotions and bonuses that can help reduce trading fees and increase potential profits. Traders should carefully review the trading fees charged by XM before opening an account to ensure that they understand the costs involved.

XM Deposit and Withdrawal Options

XM Broker offers a variety of funding and withdrawal options to make it easy for traders to deposit and withdraw funds from their trading accounts. Here’s a breakdown of the options available, along with any fees and processing times:

1. Deposit Options:
   • Credit/Debit Cards: XM accepts Visa, MasterCard, and UnionPay cards. There are no deposit fees, and the processing time is instant.
   • Electronic Payment Methods: XM accepts a variety of electronic payment methods, including Skrill, Neteller, and WebMoney. There are no deposit fees, and the processing time is instant.
   • Bank Wire Transfer: XM accepts bank wire transfers for deposits. There are no deposit fees, but processing times can vary depending on the bank and location.
2. Withdrawal Options:
   • Credit/Debit Cards: XM allows withdrawals to be made back to the same credit/debit card used to make the deposit. There are no withdrawal fees, and the processing time is typically 2-5 business days.
   • Electronic Payment Methods: XM allows withdrawals to be made to electronic payment methods like Skrill, Neteller, and WebMoney. There are no withdrawal fees, and the processing time is typically within 24 hours.
   • Bank Wire Transfer: XM allows withdrawals to be made to a bank account via wire transfer. There may be fees charged by the banks involved, and the processing time can be up to 5 business days.

It’s important to note that XM does not charge any fees for deposits or withdrawals. However, there may be fees charged by the payment processors or banks involved in the transaction. It is recommended that traders carefully review the fees and processing times for each funding and withdrawal option before making a transaction.

XM’ promotions

XM Broker offers several promotions and bonuses to its clients. These promotions are designed to attract new traders, as well as to reward existing clients for their loyalty. Here are some of the promotions currently offered by XM:

1. Welcome Bonus: XM offers a 100% deposit bonus to new clients who make their first deposit. The maximum bonus amount is $5,000, and the bonus is automatically credited to the client’s account.
2. Loyalty Program: XM’s loyalty program rewards clients with XM Points for every trade they make. These points can be redeemed for credit bonuses, cash, or other rewards.
3. Zero Fees on Deposits and Withdrawals: XM currently offers a promotion where clients can make deposits and withdrawals without any fees charged by XM.
4. Trading Contests: XM regularly hosts trading contests where clients can compete against each other for cash prizes. These contests are open to all clients and are held on various financial instruments.
5. Free VPS Service: XM offers a free VPS (Virtual Private Server) service to clients who maintain a minimum balance of $5,000. The VPS can help improve trading performance by providing faster execution speeds and minimizing downtime.

It’s important to note that all promotions offered by XM are subject to terms and conditions, and may be subject to change or withdrawal at any time. Clients should carefully review the terms and conditions of any promotion before participating.

XM customer support

XM Broker provides customer support services to its clients 24/5. The customer support team is available in multiple languages and can be contacted via various channels, including:

1. Live Chat: XM Broker provides a live chat service on their website, which allows clients to chat with a customer support representative in real-time. This is the fastest and most convenient way to get support.
2. Email: Clients can email XM Broker’s support team at support@xm.com. This is a good option for non-urgent inquiries or if the live chat is unavailable.
3. Phone: XM Broker provides phone support to clients in several countries. Clients can find the phone numbers for their specific region on the XM Broker website.
4. Social Media: XM Broker has active social media accounts on Facebook, Twitter, YouTube, and Instagram. Clients can use these channels to get in touch with the customer support team or to stay up-to-date on the latest news and promotions.

XM Broker’s customer support team is known for being responsive and helpful. They can assist with a wide range of inquiries, including technical issues, account-related questions, and trading-related inquiries. It’s important to note that XM Broker provides customer support services in multiple languages, including English, Spanish, French, German, and many more.

XM Educational Resources

XM Broker offers a range of educational resources for traders of all levels to improve their trading skills and knowledge. These resources include:

1. Video Tutorials: XM Broker provides a comprehensive library of video tutorials covering a wide range of topics, including trading strategies, technical analysis, and risk management.
2. Webinars: XM Broker regularly hosts live webinars presented by experienced traders and market analysts. These webinars cover a range of topics and are designed to help traders stay up-to-date on the latest market trends.
3. Trading Signals: XM Broker provides free trading signals to its clients, which are based on technical analysis and are designed to help traders identify potential trading opportunities.
4. Market Research: XM Broker provides daily market analysis, including news and market commentary from industry experts. This helps traders stay up-to-date on the latest market trends and events.
5. Trading Tools: XM Broker provides a range of trading tools, including economic calendars, market sentiment indicators, and calculators, to help traders make informed trading decisions.

It’s important to note that all educational resources provided by XM Broker are available to clients free of charge. These resources are designed to help traders improve their trading skills and knowledge, and ultimately, become more successful traders.

Pros and cons of XM

Pros of XM:

1. Regulation and Safety: XM Broker is regulated by respected regulatory bodies such as CySEC, ASIC, and the FCA. This provides a high level of safety and security for clients.
2. Range of Products: XM Broker offers a wide range of trading products, including forex, stocks, commodities, and cryptocurrencies, which allows traders to diversify their portfolio.
3. Trading Platforms: XM Broker provides traders with a choice of multiple trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms, which are both available for desktop and mobile devices.
4. Educational Resources: XM Broker provides a range of educational resources, including video tutorials, webinars, trading signals, and market research, which can help traders improve their skills and knowledge.
5. Customer Support: XM Broker provides customer support services 24/5 in multiple languages via various channels, including live chat, email, phone, and social media.

Cons of XM:

1. Limited Cryptocurrency Selection: Although XM Broker offers cryptocurrencies for trading, the selection is limited to only a few of the most popular cryptocurrencies.
2. Inactivity Fee: XM Broker charges an inactivity fee of $5 per month if clients do not trade for more than 90 days.
3. Limited Promotions: XM Broker’s promotions are limited compared to some other brokers in the industry.
4. No Guaranteed Stop Losses: XM Broker does not offer guaranteed stop losses, which means that traders may experience slippage during high volatility periods.
5. Limited Research and Analysis: Although XM Broker provides daily market analysis and news, the research and analysis may be limited compared to other brokers in the industry.

Frequently asked questions about XM

Is XM Broker regulated?

Yes, XM Broker is regulated by respected regulatory bodies, including CySEC, ASIC, and the FCA.

What trading platforms does XM Broker offer?

XM Broker offers the popular MetaTrader 4 and MetaTrader 5 platforms, as well as a WebTrader platform and mobile trading apps.

What products can be traded on XM Broker?

XM Broker offers a range of trading products, including forex, stocks, commodities, metals, energies, and cryptocurrencies.

Does XM Broker charge fees for deposits and withdrawals?

XM Broker does not charge fees for deposits or withdrawals. However, fees may be charged by the payment provider.

What are the account types offered by XM Broker?

XM Broker offers three main account types: Micro, Standard, and XM Ultra Low. Each account type has its own trading conditions and features.

Does XM Broker offer customer support?

Yes, XM Broker provides customer support services 24/5 in multiple languages via various channels, including live chat, email, phone, and social media.

Does XM Broker offer educational resources?

Yes, XM Broker provides a range of educational resources, including video tutorials, webinars, trading signals, market research, and trading tools.

What is the minimum deposit required to open an account with XM Broker?

The minimum deposit required to open an account with XM Broker varies depending on the account type, ranging from $5 for the Micro account to $50 for the Standard account.