XM Review: Forex Broker SCAM or Not? GET 30$ FREE XM Review: Forex Broker SCAM or Not? GET 30$ FREE

Min. Deposit5$ Demo Account Yes, FREE!
  • Rating
  • Maximum Leverage: 1:888
  • Regulated By: IFSC, CySec, ASIC
  • Instruments: Forex trading, Stock CFDs, Commodities, Equity indices, Precious Metals, Energies
  • Trading platforms: MT4, MT5 for PC&MAC, WebTrader, MT4 Multiterminal
  • Mobile App for Android & iOS
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Forex trading platform xm.com (often abbreviated as XM) is considered the most popular trading platform in the world today thanks to the great advertising and promotion campaigns (Bonus). But is that XM trusted forex broker? We will find out all the information about the XMbroker to give the most objective XM broker review.

Introducing the XM broker

XM broker was founded in 2009, owned by Trading Point of Financial Instruments, based in Cyprus. In addition, XM.com has many representative offices around the world.

Operating from 2009 to now, the forex broker has always gained a reliability and has an impressive number of users (Xm currently has nearly 3 million traders from 196 countries around the world) You can evaluate the Xm broker has a certain reliability recently. We will find out more about the legal information of the broker right below.

Review Xm forex broker

Operational certificates and investor protection of XM Broker

Any broker (brokers) need to be managed by trusted financial management agencies, is this one of the important factors to evaluate that broker is trusted? and XM is no exception.

Currently, the XM broker is managed by the following agencies:

  • FCA – financial management agency in the United Kingdom
  • ASIC – Australian Securities and Investments Commission
  • IFSC – International Financial Services Commission.
  • CySEC – Cyprus Securities and broker Commission.

All are the most trusted financial management agencies in the world, Xm Trading Center will be required to comply with strict management conditions to ensure the transparency and safety of the property of investors at xm.

Customer’s assets on the broker will be segregated under the Segregated Account mechanism, which avoids the company using unauthorized customer money, and it is used as a basis to compensate customers in the case of the company bankrupt.

With the above management certificates, along with the positive reviews of the forex world trading community, you can feel secure to start trading at Xm forex broker.

Want to open a free Demo account to practice? Click Here

XM trading products – Instruments

Currently, XM offers many different trading products:

  • Forex: with over 55 currency pairs to trade, leverage up to 1:888
  • Equity indices: you can trade indices such as S&P 500, Nasdaq 100, Dow Jones, Nikkei 225, DAX and many others.
  • Commodities: You can trade without having to own goods.
  • Stock CFD Trading at XM: Traders can trade CFD stocks with more than 300 companies worldwide.
  • Precious metals: You can trade precious metals like gold, silver … with leverage up to 888:1.
  • Also, you can trade energies products easily.

Trading platform of XM.com

Xm trading platform offers investors a lot of different platforms MT4, MT5, Web trader (suitable for both Windows, Mac, Android or ios operating systems) In which, MT4 is still the platform that traders love and use the most today.

In addition, XM also provides you with the MT4 MultiTeminal tool, which helps you to easily manage multiple accounts at the same time on a single interface.

Features on XM MT4

  • Over 1000 products including Forex, CFDs, and Futures
  • 1 unique login for 8 trading platforms
  • Fully featured EA (trading / automatic signals)
  • One-Click tradings
  • Technical analysis tools with more than 50 indicators and charting tools
  • Support 3 chart types: a candlestick chart, line, bar
  • Also MT4 has many other functions.

Types of trading accounts Xm provided

Xm currently offers 3 main types of accounts:

Micro Account:

This is the smallest account type in forex trading (1 lot for Micro account is equivalent to 0.01 lot on standard account). This account is suitable for training your trading skills, testing new methods or trying EA to avoid unnecessary risks.

Basic information about XM Micro account:

  • Minimum deposit: $5
  • Maximum leverage: 1:888
  • Spread: From 1 pip
  • Commission: No
  • Maximum Number of Concurrent Orders: 200

XM Standard account

This is the standard account type that most traders use, the advantage of XM’s Standard account compared to other brokers is the low minimum deposit amount (only from $5), help anyone have easy access to Forex trading. Here is basic information about Xm’s Standard account:

  • Minimum deposit: $5
  • Maximum leverage: 1:888
  • Spread: from 1 pip
  • Commission: No
  • Maximum Number of Concurrent Orders: 200

XM Ultra-Low Account

This is the type of account that XM offers to compete with ECN accounts with low Spread like IC Markets. XM Ultra Low account is highly appreciated by the trader community and you should register to trade in the Scalping short time frame. Here is information about Ultra-Low XM Account:

  • Minimum deposit: $50
  • Maximum leverage: 1:888
  • Spread: from 0.6 pips
  • Commission: No
  • Maximum Number of Concurrent Orders: 200

You can see the details of Xm’s account types provided here

Commissions, Spreads & Leverage

Spreads and Commissions at the Xm broker depend on the type of account you choose. 3 main types of accounts (Micro, Standard and Ultra-Low of XM do not charge Commissions).

The spread for major currency pairs is quite low, from 0.6 pips to Ultra Low accounts and from 1 pip to other accounts. We can evaluate the spread quite well compared to other brokers.

Leverage: Maximum 1:888 and it also depends on the amount of money you deposit (if the amount of money you deposit are large, the leverage will be lowered).

XM Bonus & Promotion

Xm is known as the broker with the most attractive promotions today, including promotions without deposit – No Deposit Bonus.

Currently, XM offers a free $ 30 program for traders who register for the first time at XM.

The steps to get $ 30 free are extremely simple:

  • Step 1: Sign up for an XM account to get $ 30 here: XM BONUS $30
  • Step 2: Log in to the member area.
  • Step 3: Verify the XM account according to the instructions.
  • Step 4: Click on the request to receive a reward.
  • Step 5: Complete the confirmation process and enjoy $ 30 free to trade for profit.

Deposit and withdraw money at XM

Xm offers many options so customers can easily make the most convenient deposit and withdrawal. You can make deposits and withdrawals via Visa/Master card, Neteller, Skrill e-wallets, or the simplest via bank transfer (internetBanking).

Deposit time is almost instant, withdrawal time is usually within 24 hours after receiving your withdrawal order, within 3-5 working days. If you use a visa card to deposit and withdraw money. The advice is to use the bank transfer method or use electronic wallets to make tradings as fast as possible.

Deposit and Withdraw Xm without your fee (however, it may be possible for a third party such as a bank or e-wallet to charge foreign currency conversion fees – if any)

Customer support review

Xm has many supported language options and you can chat directly on the website or via email, call directly. XM customer care is quite friendly and quick to solve the problem. Currently XM supports 18 different languages ​​in the world.

FAQ – Frequently asked questions about XM

  • How long can I use a demo account?
    At XM demo accounts do not have an expiry date, and so you can use them as long as you want. Demo accounts that have been inactive for longer than 90 days from the last login will be closed. However, you can open a new demo account at any time. Please note that maximum 5 active demo accounts are allowed.
  • What is the minimum deposit at XM?
    It is $5 for MICRO and STANDARD accounts, $50 for ULTRA LOW accounts, while for SHARES accounts it is $10,000.
  • What is the maximum leverage at Xm?
    Xm allows you to use maximum leverage of 1:888
  • Is withdrawing XM easy?
    You can withdraw your interest or deposit easily and quickly, note that how you deposit money, withdraw it that way.
  • Is Xm managed?
    Is trading at XM safe? Yes, XM is managed and supervised by the leading trusted financial institutions: ASIC, FCA, IFSC, CySEC so you can rest assured trading.
  • Where is XM Regulated?
    Yes, XM is Regulated by the leading trusted financial institutions: ASIC, FCA, IFSC, CySEC so you can rest assured trading.

Summary

After more than 10 years operating in the forex market, Xm has become one of the largest forex brokers in the world. XM is supervised and managed by the world’s leading financial agencies and many awards have been obtained over the past time, Xm deserves to be a trusted forex broker for you to experience trading.

Sign up for a free account and get a $ 30 Bonus here!

Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary.

Accepted Countries: XM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries. (Traders can not use XM from United States, Canada, Israel, Iran).

If you have any questions or have ever traded at XM, please leave your XM Review broker for eone to have the most objective comments. Thank you!

11 bình luận
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