Xm broker scam

You’ll be happy to know that XM is a fully regulated brokerage company on multiple fronts.

Top-3 forex bonuses

Given that their headquarters are located in cyprus, it’s not a big surprise that they have a cysec license, and their license number is 120/10. However, the company is also registered with the FCA, IFSC, ASIC and even dubai’s financial service authority, which puts the company beyond any doubt. Furthermore, we have to say that everything on this website is done in full accordance with mifid, a strict directive issued by the european union. Therefore, in legal terms, this broker has absolutely everything a legit broker needs to have and more, so there really is no reason to waste time deliberating is XM a scam or not. Simply put, this is a very professional company that takes excellent care of its clients. We have tested out every available deposit and withdrawal method. Not a single problem ever occurred and no traces of XM scam were ever noticed. This is because the broker is extra careful when it comes to its clients’ funds which are kept in segregated accounts opened with investment-grade banks. You’ll be happy to know that your money (up to 20,000 euro) is also insured thanks to the investor compensation fund, whereas negative balance protection prevents you from losing more than you have in your account. Other parts of the website, like the trading platform and the customer support work flawlessly too, and the broker has a verisign certificate to prove it. The company is even UNICEF’s champion for children! But there are other evidence that can help you decide is XM a scam. Stay with us to learn what they are.

Is XM a scam?

Founded in 2009 and with more than a million clients, XM is without any doubt one of the powerhouses in the online trading industry. With a resume like that, it is quite safe to assume that this company can be trusted, but we still wanted to see which security features have been implemented here. In other words, we want to see for ourselves is XM a scam or a legit and reliable company. After spending considerable time trading on their website, we have familiarized ourselves with their security system and will tell you absolutely everything you need to know about in the rest of this text. Read on and see for yourself how a serious company operates.

Is XM a scam? | website reliability

We have tested out every available deposit and withdrawal method. Not a single problem ever occurred and no traces of XM scam were ever noticed. This is because the broker is extra careful when it comes to its clients’ funds which are kept in segregated accounts opened with investment-grade banks. You’ll be happy to know that your money (up to 20,000 euro) is also insured thanks to the investor compensation fund, whereas negative balance protection prevents you from losing more than you have in your account. Other parts of the website, like the trading platform and the customer support work flawlessly too, and the broker has a verisign certificate to prove it. The company is even UNICEF’s champion for children! But there are other evidence that can help you decide is XM a scam. Stay with us to learn what they are.

Is XM a scam? | licenses

You’ll be happy to know that XM is a fully regulated brokerage company on multiple fronts. Given that their headquarters are located in cyprus, it’s not a big surprise that they have a cysec license, and their license number is 120/10. However, the company is also registered with the FCA, IFSC, ASIC and even dubai’s financial service authority, which puts the company beyond any doubt. Furthermore, we have to say that everything on this website is done in full accordance with mifid, a strict directive issued by the european union. Therefore, in legal terms, this broker has absolutely everything a legit broker needs to have and more, so there really is no reason to waste time deliberating is XM a scam or not. Simply put, this is a very professional company that takes excellent care of its clients.

Is XM a scam? | conclusion

As you can see, XM is definitely not a scam but a serious company that puts its clients’ interests above all else. The financial security is absolutely impeccable and the broker has all the necessary licenses and more, which makes trading here one of the safest investments you can make. For more than twelve years these people have been a part of the trading industry, which is quite an achievement. A scam broker simply cannot last that long, not even close. So if you want to be sure your trading partner will treat you well, just open an account on this website and you will always have a place you can visit when an investment opportunity arises.

Is XM a scam?

Is XM a scam? | website reliability

Is XM a scam? | licenses

Is XM a scam? | conclusion

Broker’s profile

Testing the mettle and serviceability through a thorough review of its forex brokerage service is the XM group.

XM group took form in 2009 in cyprus with its former name, trading point of financial instruments ltd. The XM brand is a group of online regulated forex. Over the years, this brokerage group has amassed a huge number of traders and reached to more than 196 countries globally. XM group is most known for its metatrader platform suite offering, while its trademark service is its customer care, which provides 30 language options to support its clients.

XM group continues to evolve to provide better trading services to traders worldwide. Its ten years of existence in the trading industry has earned its reputation as a good forex broker, albeit it has been performing under the shadows of broker giants dominating the markets today.

Broker’s security and regulatory status

Establishing its integrity as an honest brokerage institution, XM group is multiple licensed brokers. It has earned several distinctions along with its license to operate forex brokerage from the australian securities & investment commission (ASIC) and the financial conduct authority (FCA).

Besides the above-mentioned regulatory merits, XM group has also subscribed to the regulations set by the markets in financial instruments directive (mifid) lording over the european union nations. XM group intently worked this out to boost its advocacy to build a secure trading institution among its clients. Hence, XM group is compelled to be liable over its jurisdictions in hungary, france, and italy.

Over the past decade, XM group has established itself as a safe and reliable forex broker rendering forex trading services in different parts of the world. In 2017, XM global limited was founded in belize and was regulated by the IFSC.

Trade offerings, accounts, and condition

XM’s several broker brands will walk interested investors to multiple trade baskets in the form of cfds with 1200 stocks, 8 commodities, 4 metals, 5 energies, 30 indices, and 57 currency pairs.

Currently, XM offers varying trading account types, including standard accounts, micro accounts, cent accounts, swap-free accounts, and islamic accounts. The standard, micro, and zero accounts all have this distinctive feature – these have custom-oriented conditions. Each of these accounts can be used for an islamic account.

When we deal with the transaction costs using XM-sanctioned brokerage sites, the prices vary depending on the account type. The micro and standard accounts are both commission-free accounts, while the zero account is commission-based. XM also offers the XM ultra-low account, but it is not offered across all XM brands.

Using the XM zero account, traders are faced with average spreads on the EUR/USD pair with 0.1 pips. If you take a look at the commission-free standard account and micro account, its average spreads for the same currency pair is at 1.7 pips. However, if we put the commission-based account into the picture, the average spreads will have traders trading the same forex pair at 0.8 pips.

In terms of the leverage level, XM group observes varying levels depending on the account type. XM clients choose their leverage level between 1:1 and 888:1. However, recent rulings from regulatory bodies in europe prohibited brokers from offering high leverages to avoid stupendous losses of clients. They have set a maximum leverage of 30:1. But since XM group has clients outside the european bloc, its australian clients are liberated to use high leverage levels that go up to 300:1.

Interestingly, XM brands are all acting as principal dealers in all their trade executions and do not offer re-quoting in all their trading account types. In essence, XM brands can afford to offer low spreads during particular market conditions.

XM has done a good job in its transparency in transaction fees. All the costs traders are charged during trading are available in the spreads and does not practice hidden fee charges. What XM group charges its clients on trade transactions is the overnight fee.

One clear advantage XM group has against its competitors is its no inactivity fees and zero deposit fees. Traders are not charged per month if their trading accounts are not actively used. What’s more interesting is when traders open an account with any XM brand, they are not obliged to render a deposit fee.

Educational materials and trading resource

If traders are to consider the research aspect of brokerage service provided by XM, they might find nothing surprising. XM has the same features that traders could also enjoy at some other research instruments used by other typical and mediocre forex brokerage sites.

XM has this feature called tradepedia, which provides insightful resources for technical analysis. This usually details indicator tools, charts, and graphs. Tradepedia caters to the beginning traders and even to the most seasoned traders in search of trading strategies and significant trade signal visuals.

XM’s daily feeds of forex and economic news are quite interesting as they are presented in a creative format wherein users are just like watching a TV interview.

Some other noteworthy features of XM’s research facility include webinars, economic calendars, how-to videos, forex seminar s streaming, technical indicator tools, etc.

In assessment, the educational and research facility offering of XM is sufficient though most of its features can also be found in other brokerage services. XM has to offer something new to the table to stay relevant in the forex research offerings out in the markets.

Trading platforms and special perks

This aspect of trading service offerings is the lackluster side of XM group that needs to be upgraded if they want to find themselves at the upper echelon of the forex broker elite group. Unfortunately, XM group offers conventional and ordinary metatrader platforms. XM offers both the MT4 and MT5 web and app platforms for its clients. As most traders know, the metatrader platforms feature the usual set of technical analysis tools, including some stop and trailing orders. Metatrader 4 and metatrader 5 are both available in ios and android devices.

Since the XM group sports nothing-fancy-but-simple-yet-reliable trading platforms, investors may be enticed by the company’s special perks and bonuses offered. Let us leaf through some of XM’s promotional bonuses that might interest traders around.

First on our radar is the NO DEPOSIT BONUS offer. This is a great catch for traders, especially those who are afraid of bumping into fraudulent forex brokers. It is also a good impression for traders that they have nothing to risk as they sign in for an XM trading account. However, that’s the only time first-time XM trader account users can enjoy that bonus.

Another perk awaiting newly-signed up traders is the WELCOME BONUS. This particular reward is only earned by traders who signed up for an account and opted to make an initial deposit. They are rewarded with 100% as a welcome bonus to them.

For the old users of XM trading accounts, they get to receive LOYALTY BONUSES. Traders need to apply for this special perk and earn a certain number of points that traders can get upon executing trades with XM. The more they trade, the higher the points they accumulate, which can be converted to the LOYALTY BONUS after application.

Lastly, XM offers special seasonal bonuses. These benefits are coming every once in a while during trading with XM brands. This way, traders are treated by their eagerness and enthusiasm in trading forex. But these can all be discovered when traders stay being XM clients.

Deposit and withdrawal practices

If you think you’ve seen pretty much everything about what XM group has to show off, wait till you learn about its conduct of withdrawal and deposit schemes.

XM group provides an easy way for its clients to deposit and withdraw trading funds from their accounts. XM offers different avenues for money transfer, including credit cards, bank wire transfer, and e-wallets. E-wallets can be in the form of neteller, china unionpay, western union, IDEAL, SOFORT, moneybookers, webmoney, moneygram, bitcoin, and skrill.

XM group is committed to providing a convenient funding transaction to its clients; that’s why it allowed local bank transfer that enables its clients to deposit their trading accounts through commercial banks with no conversion charges. Note, however, that XM group imposes a minimum five dollar deposit amount for the payment mentioned above options in all countries across the globe.

On top of it, clients are charged with no fees for both withdrawal and deposit transactions. XM group also covers the transfer fees of its clients. Convenience at its finest, it is for XM group brokerage funding service.

Leave or cleave?

After a thorough rundown of XM group’s brokerage services, let us weigh in all aspects of the services to find out which type of traders can fit into the brand.

XM group seems to be a fine and classic kind of broker. Safety and convenience are both guaranteed, although nothing special or new is on its service platter. XM is a steady and ever ready forex service provider, a good characteristic of a broker for traders who look for a dependable firm.

There may not be anything special by its trading platforms in metatrader, but the seamless trading service is what it has to offer.

XM group is not the kind of broker traders would shun as its security and transparency are the vanguards of its brokerage service.

XM group review

Last updated: october 30th, 2020

In this XM review, we checked XM trading platforms and compared XM spreads and other trading fees with direct competitors. We have also looked at XM’s robust trading assets offering. So, is XM trading a scam or not?

XM group (XM) is a group of regulated online brokers. Trading point of financial instruments ltd was established in 2009 and it is regulated by the cyprus securities and exchange commission (cysec 120/10), trading point of financial instruments pty ltd was established in 2015 and it is regulated by the australian securities and investments commission (ASIC 443670) and XM global limited was established in 2017 and is regulated by the international financial services commission (000261/106).

Excellent reputation

No requotes, no slippages policy

Minimum deposit $5

No deposit bonuses $30 (not for EU)

56 currency pairs available

Low spreads from 0 pips

Fast trade execution

Support in 25 languages

Competitive bonuses

Scalping is allowed

MT4 / MT5 or webtrader

Choose from 11 base currencies

Focused mostly on forex

Not available for USA traders

No forex options

No real stocks available (only cfds)

77.19% of retail CFD accounts lose money when trading cfds with this provider.

XM demo account

If you are a newbie and want to play with virtual money stress free, you can open a demo account that you can use for unlimited period of time. This means that all platform features and business strategies can be tested completely free of charge and without any risk.

Click here to open a free demo account where you can practice trading indefinitely. You can deposit real money anytime you want. Take your time.

XM trading platforms

You can choose between webtrader + MT4/MT5 .

We found webtrader pretty fast and stable. It is based on famous HTML sirix platform.

XM review – super fast webtrader based on sirix technology (click to enlarge this image)

XM trading instruments

XM is mostly focused on providing top notch forex trading experience!

Currently, you can trade with 53 forex currency pairs.

Regardless of what type of account you open, there are many cfds on stocks available from the worlds biggest stock exchanges (dowjones, SP500, DAX, CAC40). You can also trade CFD on precious metals like gold and of course crude oil.

Regardless of what type of account you open, with XM you will have access to metatrader 4, metatrader 5 two of the world’s most popular charting platforms. In addition to almost infinite amount of technical indicators, MT4/MT5 allows fast and automated processing of different trading positions.

Although we had no time to test XM mobile trading platform, they offer mobile apps that can be downloaded from google play and apple itunes. These apps are designed to work without any limitations with metatrader 4 and metatrader 5. Professional traders can manage over 100 different accounts from one platform using the XM multiterminal.

If you do not want to install any special software, you can use their XM webtrader directly from your web browser. Actually this was the trading interface that we have used during our test! In addition to its ease of use, this software provides constantly updated economic news as well as an economic calendar and market analysis for even more flexible trading!

XM review – trading accounts

When it is a time to switch from a demo practice account to a real account, you have several options:

XM group offers its clients 4 types of account:

MICRO

STANDARD

XM ZERO

XM ULTRA LOW

The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5.

The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5.

XM ZERO account has a $3.5 commission per $100,000 standard lot traded, it has minimum initial deposit of $100

Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has minimum initial deposit of $50.

* XM ultra low accounts and XM ZERO accounts are not applicable to all entities of the group.

How to deposit into XM trading account

XM group offers a wide range of payment options for deposit/withdrawals by multiple credit cards, multiple local electronic payment methods, bank wire transfer, local bank transfer and other payment methods.

Which base currencies are available at XM ?

Base currency is the main currency of your account.

By selecting the right base currency, you can avoid currency risk in future.

Usually it is the currency that you are going to use to deposit. For example if you live in singapore, than you will for sure deposit SGD and make it your base currency. If you are from south africa we advise you to use ZAR as your base currency.

If you choose your country’s currency as a base currency, you can eliminate currency exchange fees that you would have to pay to your bank and also avoid any possible future currency risks.

EURO

JPY – japanese yen

SGD – singapore dollar

You can have one account with XM with one currency and another account in different currency.

XM bonuses

There is a time limited opportunity to claim competitive signup bonuses that will be credited right into your newly-opened XM trading account:

IMPORTANT NOTE: XM bonuses are NOT available for traders who signed up through trading point of financial instruments ltd.

$ 30 non-deposit BONUS to try out a platform for everyone (no deposit required )

+ 50% up to $ 500 bonus (example: you get 50% on top of all deposits up to $500)

+ 20% up to $ 4500 bonus (example )

XM review 2019 | is XM a scam or legit forex broker?

Average broker rating

Rating breakdown

XM overview

XM is a cysec, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on forex, stocks, commodities, indices, metals and energies on the globally-recognised trading platforms metatrader 4 and metatrader 5 for PC, mac, web, ios and android systems.

#	broker's features	XM availability
#	commissions	❌
#	hedging	✔
#	PAMM	❌
#	scalping	✔
#	accepts US traders	❌
#	24 hour trading	✔
#	swaps	✔
#	demo account	✔
#	daily analysis	❌
#	automated trading	✔
#	mobile trading	✔
#	trading by phone	❌
#	1st deposit bonus	❌
#	forex contests competitions	✔
#	bonuses promotions	✔
#	interest charges on the balance	✔
#	free education	❌
#	expert advisors	❌
#	partnership programs	❌
#	trust management	❌
#	24 hour support	✔

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.Net team collected over 50 data points. For this review, we will review XM.

Financial trading and investment services: first of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, cfds, cryptocurrencies or options. XM offers online financial trading and investment services such as CFD, forex, cryptocurrency, stocks, futures.

Tradable products: XM offers clients more than 1,000+ tradable assets to trade on, across forex, stocks, indices, commodities, metals and energies via spot, futures and CFD products.

Broker type: many types of brokers can be found in the most dynamic market in the world. XM is market maker.

Features: XM offers additional algorithmic trading tools and the ability to access trading signals from their own guru, as well as from MQL5.

XM allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As a market maker, XM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades. XM also offers a number of useful risk management features, such as negative balance protection, price alerts and much more.

Minimum deposit requirement: to properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a forex brokerage. XM recommended minimum capital is $5.

Is the forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. XM is regulated by ASIC, cysec, IFSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor protection & regulations: XM is authorised and regulated by the cyprus securities and exchange commission (cysec), the australian securities and investments commission (ASIC) and the international financial services commission of belize (IFSC), offering segregated client funds and negative balance protection.

Account currencies: next lets consider the account currencies each broker offers. XM offers EUR, USD, GBP, JPY, CHF, HUF, PLN, RUB, SGD, ZAR, different account currencies for each account types.

Account openning: XM offers 4 different types of trading accounts globally across different regulatory jurisdictions, with each account offering unique features and benefits for beginner and advanced traders.

XM offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages available: next lets have a look at each broker's different language options. XM offers english, arab, bulgarian, vietnamese, greek, indonesian, spanish, italian, chinese, korean, malay, deutsch, polish, portuguese, russian, turkish, french, swede, japanese.

Payment methods: next lets have a look at each broker's payment options. XM offers credit/debit cards, netteler, skrill, klarna, przelewy 2 different payment methods for each account types.

Deposit and withdrawal: uniquely, XM covers all deposit and withdrawal transfer fees for payments made via neteller, moneybookers and all major credit cards including visa, electron, mastercard, maestro and china unionpay, with instant account funding.

Trading platforms: next, let's look at the tools and features fx traders desire. With trading platforms, XM makes MT4, MT5, webtrader available to clients.

Web & desktop trading platforms: XM traders have access to the globally-recognised metatrader 4 and metatrader 5 trading platforms, accessible on PC, mac and web.
Mobile trading platforms: XM offers traders the ability to trade on the metatrader 4 and metatrader 5 mobile trading apps for ios and android operating systems, as well as tablets. The broker also offers the XM trading app which allows users to manage their MT4 and MT4 accounts.

Trader education
XM offers an impressive suite of unique educational products include forex seminars, educational videos, webinars, platform tutorials and live daily interactive education rooms.

Promotions
XM is currently offering two promotional offers but this could be subject to change – free VPS services and zero fees on deposits and withdrawals.

Support
XM offers 24 hours a day, monday to friday, customer support via live chat, email, online contact form and phone on more than 25 different languages.

Recup
XM offers 4 different trading account types with the choice of commission-free, or commission-based trading on more than 1,000+ tradable asset classes across forex cfds, stocks cfds, indices cfds, commodities cfds,precious metals cfds and energies cfds. Traders can use the globally recognised metatrader platforms and enjoy access to an impressive research and education section.

Final thoughts
the XM standard account and XM micro account offer commission-free trading. The XM zero account offers commission-based trading on forex pairs, albeit with lower spreads.

Trading experience
XM offers a wide variety of trading accounts giving a unique and flexible offering to trade on more than 1,000+ tradable assets across both metatrader 4 and metatrader 4 for PC, mac, web, ios and android. The broker also offers an impressive range of research and educational tools suitable for both beginner and advanced traders.

XM reviews

130 • poor

Write a review

Reviews 130

SCAM SITE!!

SCAM SITE!!
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I was down in the dumps after my…

I was down in the dumps after my encounter with this company. I should have known better but their attractive offers made me ignore the red flags.
They took a lot from me and i kept falling for their tricks. Some tech expert from

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Pulled a successful chargeback and i recovered my loss.

I was down in the dumps after my…

Pulled a successful chargeback and i recovered my loss.

Had a bad experience ,it wasn’t easy…

Had a bad experience ,it wasn’t easy for me until I met this recovery expert company on my headline
I will highly recommend this company above(headline).
They are sincere and honest in all way round, getting back lost assets is their priority.

I was down in the dumps after my…

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Pulled a successful chargeback and i recovered my loss.

No matter what they tell you

No matter what they tell you, they are not the bro.Ker agency to tr.Ade with. If only trustpilot has a feature for media uploads. I would have uploaded evidences of how I was ri.Pped a total inv.Estment of € 22000 last year. The details is a long one and I don't like to talk about it. Just avoid them and I am sure there are many more like me who were sca.Mmed in similar way. I am just grateful to mr jacob who came to my help with her master-class re.Covery strategy and crypocurrency technology. I was able to get my m.Oney back yesterday. His m ail is jacob39salbert''at aol'comreach him if you're in similar situation.

I was down in the dumps after my…

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Reading reviews here made me realize…

Reading reviews here made me realize how fortunate I was to have recouped what they took frm me.They are svvindlers. They made wlthdrwal impossible for me. It took the pr ofesional intervention of sir wilson to get it from them. You can reach wilson via jamerabinowitz*at aol dotcom to get your fundz bck

Its a fraud company NOT registered in FCA

Its a fraud company, contact FCA and give them the (FRN: 705428) number shown in the bottom of the xm.Com website and FCA (https://www. Fca. Org. Uk/contact) will tell you xm.Com is not a genuine company and does not appear in FCA record at all. The company which appears in the FCA record is trading point of financial instruments UK limited which has not notified the FCA that xm.Com is part of them. So under these circumstances FCA will tell you xm.Com is not a registered entity in the FCA record. So any dispute with xm.Com will not be dealt by FCA but by action fraud team (https://www. Actionfraud. Police. Uk/). Which makes xm.Com illegal to provide any kind of CFD or trading services to the UK residents. So whoever used xm.Com can contact their bank to freez and dispute the transactions.
The MT4 platform will play against you, as it did against my BUY STOP order. It did execute the order before the price reach to that point. Also my trailing which was supposed to close previous position was not started and my account was drained to zero. I have solid evidence of snapshot which I have taken. Xm.Com is full scammed. Contact FCA in uk and they will tell you xm.Com is not registered and cant use (FRN: 705428) for their illegal services in U.K

Stop loss not reliable

Stop loss not reliable ! Account came to ZERO because position didn’t close when stop loss was hit but faaar below !! Support contacted but they are rude and don’t give a sh.. ! Avoid these robbers

This is really bad trading platform…

This is really bad trading platform they close the deal with their own do not recommend this to anyone

Very poor complaint resolution process

They will take ages to respond if you lodge a complaint. High slippage with gold. Overall a shady broker

The worst of all

The worst of all, they are so rude to thank god I didn't make any transaction with them. They called me and they're asking me for hundreds of documents, cheaters, and fake people never trust this company. They're full of shiz.

When all efforts seems hopeless

When all efforts seems hopeless
when all efforts seems hopeless, i finally got blessed with delgado mary. She kept her promises. I was really skeptical towards her at first but thanks to this great platform it worked out beautifully. She was able to reclaim my money as promised. You can reach her: delgadomary827 at

It is a SCAM with big letters

It is a SCAM with big letters. After 2 weeks i have the following problem, which i will describe in steps.
1) i had some accounts in the past ( one of them had a 19euro deposit with bitcoins)
2) the accounts closed after inactivity and this year i decided to participate again, and rock n roll a bit with the stocks since i enjoy their leverages.
3) i open an account and i place 70 euros inside with DEBIT CARD
4) i win around 58 euros, and i try to take them out. They gave me back the 70 i placed but they told me use another way for the winings.

In this step i need to clarify that they currently have 4 ways of withdrawing. A) card B) bank C) E-wallet D)bitcoin

5) I tried with card and i got a response to try an alternative way. I tried with bank and they sent me an email regarding these 19 euros from the old account and that i had to withdraw another way. I tried with ewallet for the rest of the winnings but they did not let me either if i did not first get these 19 with bitcoin.

6) so, i used my ledger nano S wallet to withdraw my winings and guess what. They did not accept the wallet! After 2 weeks of struggling all i got is: find another wallet this is not valid.

What is not valid? One of the biggest companies securing crypto assets? Come on. So they told me either get another company ( but its my legal right not to trust another company ) or you can not get your funds. This is illegal since their platform has the problem and not the wallet obviously. Stay way. Very easy to deposit money, but as i saw here as well, many have problems withdrawing. Unbelievable experience i dropped out from them and i suggest you do the same. I also operate on etoro the last 8 years and i never had issues like that. Stupid platform and their support does not help at all

PS here is a hint, if you insist they connect you to a superior support member who can connect to your account manager and maybe that way you can have someone call you. At least they did for me, although this person ( woman ) told me that they would disable the btc withdrawal so that i could get my money with e-wallet, only to find out that after a few hours they sent me an email that what they told me on the phone was not possible. Amazing guys i will report that to the cybercrime unit first thing tomorrow morning as well and sue them for my time lost.

Review

Introduction

XM was first started back in 2009 in london and now they have an offering of more than 400 different instruments.

This includes over 350 cfds, as well as 57 currency pairs and 5 cryptocurrency cfds. XM is regulated by the FCA in the united kingdom and they have european passports with the mifid, as well as being regulated by the cysec in cyprus, as well as being regulated in australia as an ASIC entity.

They offer more than 30 language options for their users and they cater for any and all levels of trader. One of the recent awards they have received is being named as the best FX broker in europe in 2018 by the world finance magazine.

Over 30 supported languages

Numerous esteemed awards

Regulated by well-respected authorities

Trading conditions

XM offer three different types of account for their users. The micro account is best suited to beginners, with the standard account being ideal for flexible traders. The XM zero account generally is best suited for regular traders or those who place significant trades.

Depending on the specific instrument, for each of the account types you will be dealing with leverage ranging from 1:1 up to 30:1. While there are seven base currency options available with micro and standard accounts, you can only deal with USD and EUR when you have a XM zero account.

You have two accounts which are free from commissions – standard and micro accounts, while the XM zero account is based on commission. Looking at the XM zero account, the average spread for EUR/USD is 0.1 pips excluding the commission. For the same pair on the other two accounts, the average spread for this currency pair is 1.7 pips.

The commission is $5 per side, so you are looking at competitive pricing as a whole.

XM always have a range of promotions they are running at any given time. They have a 100% deposit bonus up to $5,000, they have free VPS services and there are no fees on both deposits and withdrawals.

Wide ranging promotions

Commission free account options

3 different account types

Products

In total, there are 356 different cfds offered by XM, with five of these being cryptocurrency cfds. There are 57 currency pairs on offer and they don’t offer any ETF products.

356 CFD options

No ETF products

57 currency pairs

Regulation

Having been around since 2009, XM are regulated by a number of trusted authorities. They are authorised in the european union, as well as being regulated by the FCA in the united kingdom. They have the necessary approval from the cysec in cyprus as well as being a ASIC regulated entity in australia.

Platforms

The only platform that is offered by XM is metatrader, which is an industry standard trading platform. They offer both metatrader 4 and metatrader 5 and they have tweaked them slightly to suit the specific needs of their users.

You have access to virtual trading, but those using mac desktop computers will not be able to run this trading platform optimally. There are 51 different trading indicators available to you and there are 31 charting tools you can utilise.

Metatrader is the only trading platform available

51 trading indicators

Mobile trading

As a result of being a metatrader only platform, you will able to utilise the platforms on ios and android devices, whether it is through the MT4 or mt5 apps which can be downloaded straight away from either the app store or the android play store.

There are 30 trading charting indicators available on the mobile apps and you have the full range of trading instruments to choose from with these apps.

Pricing

With XM the amount of fees and commission that you have to pay will be dependent on what sort of account you have with them. There are three different account types in total. You have two accounts which are free from commissions – standard and micro accounts, while the XM zero account is based on commission.

Looking at the XM zero account, the average spread for EUR/USD is 0.1 pips excluding the commission. For the same pair on the other two accounts, the average spread for this currency pair is 1.7 pips.

The commission is $5 per side, so you are looking at competitive pricing as a whole.

Lower overall spreads can be achieved by XM as they are the sole dealer in every single trade.

Competitive spreads thanks to XM being the sole dealer

Varying commissions and fee levels depending on account type

Deposits & withdrawals

With the micro and standard account types, you are not subject to a minimum deposit, but usually you will have to deposit at least $5 due to system requirements. There is a minimum required deposit of $100 for the XM zero account type.

All of the usual forms of deposit and withdrawal are available with XM, such as neteller moneybookers, debit and credit cards and skrill. Most of the deposit options will allow you to have your deposit processed instantly. Bank transfers will take between 2 and 5 business days to process though.

When it comes to withdrawing from XM, most options will have your withdrawal processed within 24 hours without having a minimum required withdrawal. If you are withdrawing via a bank transfer, then you will have to wait between 2 and 5 business days for it to be processed and there is a minimum withdrawal of $200 in place.

Variety of banking options

Quick processing times

Customer support

More than 14 languages are catered for through the customer support service at XM. You can reach them no matter what time of day it may be through their live chat feature.

You can also give them a call or send them an email, with the team working on weekdays only.

14 languages catered for

24/5 customer support

Research & education

There is a library of free educational materials for XM users including the likes of week interactive webinars and video tutorials. They always have the latest news from the world of forex as well as providing regular market analysis from the team of experts at the platform. They also have a range of tools and calculators that provide everything a trader needs when making certain calculations.

Noteworthy points

As a whole XM is a trusted broker that has a solid and unspectacular offering for their users. They look after the needs of their clients through quality customer support and they have regular promotions such as a free VPS service.

As they are completely reliant on metatrader platforms, those familiar with the sector can easily utilize the broker as it is similar to a lot of other offerings out there.

Catering for 30 languages and having received numerous awards in recent years, including being named as the best FX broker in europe in 2018 by the world finance magazine, they hold a reputable place in the sector.

30 languages catered for

Free VPS service

Best broker in europe 2018 – world finance magazine

Conclusion

XM is a broker that has been around since 2009 and now employs more than 300 people. They have a diverse offering of instruments, which caters for the needs of their users in an adequate manner.

As they are reliant on metatrader for the trading software, you are not going to be surprised by anything on this front. They have a decent welcome bonus, matching your first deposit 100% up to a max bonus of $5,000.

They have a wide ranging section for education, including free weekly webinars that are interactive. It is an ideal learning ground for beginner traders and with three different account types, they cater for all kinds of traders depending on what their specific needs may be.

If you are looking for a platform that is easy and straightforward to use and that looks after their users, XM could be the right option for you.

Comparison

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XM is a scam FOREX broker? Should we trade in XM?

Those who think XM is a scam just had a lousy time trading, they made the wrong move or didn’t have a good luck selling, and it happened while they were using XM, just as it happens with many forex brokers. So, if they had a bad time while using XM, they’ll blame XM for it when XM had nothing to do with it. XM has been a forex broker praised by many traders for their quick and responsible customer support, excellent trading conditions, liquidity, and numerous bonuses and promotions.

About XM

XM forex made its way to put its mark in the trading network by offering unique features that not all forex brokers provide, like low spreads from 0 pips onward. Regarding minimum deposits, XM isn’t exigent with minimum deposits required to test their trading conditions. XM is registered under the umbrella company name of trading point of financial instruments ltd. They have built their reputation in the corporate business through following their core mission which is to conduct their business transparently and professionally. XM broker is subscribed to the rules and regulations dictated by FI, FIN, bafin, AFM, and CNMV. Another feature that adds liquidity to XM is the fact that XM has always succeeded its requirements of implementing speedy execution of orders in the market.

Should we trade in XM?

XM brokers offer a vast variety of features, different types of accounts and instruments to attract more clients. They also provide a wide range of trading platforms with support on various devices, each one suiting different kinds of trades, and providing a simple and intuitive interface. Having a strong educational base with varied types of materials, including webinars and courses, XM helps both experienced and beginner traders. So, if you want to get into the trails of forex trading, or looking for a new forex broker, XM should be a must-see in your list; and if you are not entirely sure, there are many of its features for you to see. Moreover, everyone can find XM office address, so there's no worry.

XM trading platforms

XM covers windows and mac with its three platforms being the MT4 and MT5 metatrader platforms and its webtrader platform. You can use MT4 and MT5 on windows and mac, with high support on mobile devices, like smartphone and tablet and its web-based webtrader, available in every platform with an internet browser. All of these platforms are an advantageous feature in XM if you are into working with few accounts at once, getting an advantage of XM different instruments.

XM account types

XM offers three different types of account, covering the needs of its clients depending on what they are searching for, these are MICRO accounts, STANDARD accounts, and XM ZERO accounts.

MICRO accounts has many base currency options, including USD, EUR and many more. Its contract size is one lot equal to 1000, and its minimum trade volume is 0.01. Spreads are as low as one pip. XM leverage goes from 1:1 to 1:888 spreads on all major pairs available with a minimum deposit of 5 USD.

Click to learn more micro account here

STANDARD accounts provides almost the same features as MICRO accounts, but have a contract size of one lot equal to 100000, a maximum of 200 positions on open or pending orders per client and a minimum of 1,000 units in its trading volume. Can be opened with only 5 USD.

Click to learn more standard account here

XM ZERO accounts has USD, EUR or JPY as base currencies. XM spreads are as low as 0 pips, and traders can operate a minimum volume of 0.01. XM ZERO accounts can be opened with a minimum investment of 100 USD.

Click to learn more zero account here

XM bonus and promotions

Bonuses and promotions are some of XM most attractive features. It offers plenty of promotions, making sure that your trading experience is different and better than with other forex brokers. Between XM promotions, you can find:

The XM trading bonus, available to all traders in the instant they open an XM real account for the first time. It is a 30 USD trading bonus that allows users to test the quality of XM execution in a real trading environment, without worrying about investment risk (or not that much). This bonus is available to be claimed as soon as you are done creating your account, it will be credited to your account, and it will be removed as quickly as you withdrawn profits for the first time.

Zero fees above 200 USD; according to XM zero fees policy, XM has made sure to cover all deposits and withdrawal fees above 200 USD processed by wire transfer.

Any trader who can or it’s maintaining a minimum amount of 5,000 USD (or its equivalent in other currencies) can request XM’s free VPS service from the member area and enjoy the XM VPS. Linking to XM VPS allows traders to remotely connect to XM virtual private servers located in london, near their data center, and enjoy trading without worrying about natural factors that could ruin your ability to trade, like a low internet connection.

XM loyalty program is also available as soon as you sign up. Every time you make a trade at XM, it gives you XM points; these points can be redeemed for credit bonus rewards. Everyone who creates a real account starts in the “executive level,” trading and earning XM points will automatically upgrade your status until and so on until you reach a new level, each new level, the amount of XM points you earn per lot increases, allowing you to receive XM points at faster rates. The more, the better, after you have tons of XM points, you’ll be able to redeem credit bonus rewards.

Conclusion

XM is an established broker, known to be reliable and highly professional at what it does. It aims to make your trading experience unique through all its features and bonuses, and proportionate help to its users with their interactive, friendly and helpful customer support, available 24 hours, five days a week. With all these said, why aren’t you trading at XM already? If you still have doubts, try the free XM demo account.

Peter pan

Hey, I’m peter pan. I am a writer currently resided in thailand. For my forex experience, I have been trading with many forex brokers from all over the world for 5 years now. I hope that my articles about forex brokers can help you succeed in this market just like me.

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XM group forex broker review

A decent and detailed review of a forex broker will give you the necessary information about it in brief. Such an action and filtering of all the available foreign currency exchange platforms is superb way for both – high punters and beginners – to find the best broker for their trading experience. And since we are here to give you the best and most optimal assistance into forex market, we are full of detailed reviews about the most popular and renewable brokers. Check out now our XM group review and find out if it is suitable for your preferences and needs in trading.

XM group overview and specifics

XM group is a group of online regulated brokers. Trading point of financial instruments ltd was established in 2009 with headquarters in limassol, cyprus and is regulated by cysec with license number 120/10. Trading point of financial instruments pty ltd was established in 2015 with headquarters sydney, australia and is regulated by ASIC with license number 443670. XM global limited was established in 2017 with headquarters in belize and it is regulated by international financial services commission (000261/106).

All countries that are in eurozone or in EU are provided with special regulation measures for both – gambling and trading websites. So when it comes to the safety for the customer`s personal data and money, XM group is the right and one of the most recommended websites. But this is not the only great and interesting thing about the XM group platform. The website has also a superb customer support. The services are provided 24/5 and on 17 multiple languages, which makes it easy for any client regardless he is beginner or high punter to make an inquiry at almost any time and to receive a respond to his question or requirement. Also, the XM group website has numerous trading options – including with foreign currenciest, commodity, stocks, precious materials and etc. 99,35% of the orders for trading are usually executed in less than one single second. Moreover, the leverage here is also ok – 1:30 and the XM group provides more than 100 financial instruments. Be aware that the currency options are also numerous on the website – USD, EUR, GBP, JPY, CHF, AUD and etc.

XM group forex broker has more than 60 currency pairs to trade with, while the minimum deposit is only 5 $, which makes it quite suitable for beginners in trading, who do not want to risk lots of money for their first steps on the market. XM group offers 4 type of accounts: micro, standard, zero and ultra low.” please include the following note regarding the XM ultra low account type: XM ultra low account is not applicable to all entities of the group. Account availability depends on the clients’ country of residence. Demo account is also available for people, who are not sure whether to remain on the website before testing its platform. There are no commissions or hidden fees in trading activity on the XM group broker, while the deposit and withdrawal payment methods are the general standard methods such as debit/credit card, neteller, skrill, bank wire transfer, etc.

XM group bonus system and types

Learning information about a broker is an entire process you need to consider every time before signing in a particular website. And part of this process is to see if the available bonuses are ok for you. Thankfully, XM group offers numerous promotions and special extras you should definitely check out now.

No deposit bonus – the bets forex bonus ever – the no deposit bonus – is still part of the bonus system that XM group website provides to all of its clients. To be more specific only newly registered clients can actually benefit of it. The no deposit bonus here is 30 $ and you can use it only if you are new on the website and have just made your registration with a validated account to trade from.

Welcome bonus – another welcome bonus for all the newly registered clients on the XM group website gives you up to 100% with a maximum reward of 5000 $ of your initial deposit. Unlike the previous bonus, you must make a deposit in advance and then to receive the bonus. So if you deposit 200 $ you can have in your wallet 400 $.

Loyal bonuses and programs – become a regular customer on XM group at some point and you will be able to apply for a loyalty program. This program gives you several extras and special promotions and to reach it you will need to collect a particular amount of points, which are given during your experience on XM group platform.

Special seasonal bonuses – do not forget to check out for special seasonal bonuses on XM group. This forex platform has a tradition to update its bonus system all the time, so you can receive an additional offer throughout your experience here.

Trading bonus and loyalty program are not eligible for clients registered under trading point of financial instruments ltd.

XM group software information

Our recommended forex brokers

The software type a broker uses makes a website either customer-friendly and intuitive, or harsh and not that easy to be used. Thankfully, XM group offers the best forex broker platforms that are intuitive and great for daily usage. The standard software types XM group uses are metatrader 4, metatrader 5, and web trader. Besides those, XM group is also available on mobile, allowing you to trade any time and from any place you wish.

Why choosing XM group forex broker?

And now we have reached the best part of our XM group review – the list of the biggest benefits behind this forex broker platform. Check out them out and see why so many trader love XM group broker so much:

Fantastic bonus system with ordinary updates of new bonus types

Strong regulation and good reputation

Great customer support services

Strict NO re-quotes

Efficient and fast trade execution of each trade

Good leverage of 1:30 for clients registered under the EU regulated entity of the group. Leverage depends on the financial instrument traded.

Be confident and tranquil to test the XM group forex broker. It is safe and reliable, but it is also quite easy for beginners. Also, see yourself that this website is worth it to remain on even when you become and advanced trader!

So, let's see, what we have: what is the best way to invest money online? See is XM a scam or a legit broker and everything will be clear. This is something you can’t afford to miss. At xm broker scam