Xm legit

XM doesn't publish annual financial statements. These are sort of financial reports, which generally contain information about a brokerage's income, profit and loss, retained earnings and cash flows.

My list of forex bonuses

Is XM legit? And who are they, xm legit.

Not having these exposed to the public doesn't necessarily mean that a broker is not safe or legit, it's just a factor that we should take into account when choosing where to invest or trade.

What authority or authorities regulate the broker? In other words who can you turn to if something goes south?
Does it offer negative balance protection?
How much protection do you have?
For how long XM has been in operation?
Is it publicly traded itself?
How transparent is it?
How much do they protect your account from unauthorized access?
What auditor audits the brokerage?

Is XM legit? And who are they?

All reviews and top lists updated for 2021. Check out the annual brokerchooser awards.

XM safety

Whether a financial provider like XM is safe and legit is an important and very legitimate question one can have. After all you trust XM with your investment money and savings. It is also a very common question, we get this asked a number of times.

One thing worth bearing in mind: all the brokers that you find on brokerchooser are regulated by at least one top-tier authority. So in this basic sense XM is of course legit. Additionally, there are other factors you can take into account when you check the safety of XM, e.G. If XM is listed on any exchange, provide two-step login, disclose transparently its financial result, etc.

Here, we've collected and summarized the common questions on broker safety, enabling you to decide for yourself whether you consider XM safe in your individual circumstances. We also compared XM with two similar brokers.

Is XM legit?

XM	XTB	etoro
negative balance protection	yes	yes	yes
banking background	no	no	no
broker listed on stock exchange	no	yes	no
annual financial statements on website	no	yes	no
mobile two-step authentication	no	no	yes
broker ownership transparency	yes	yes	no
broker management transparency	yes	yes	yes
broker is audited by the big four	no	yes	no

Open account
78.04% of retail CFD accounts lose money

I also have a commission based website and obviously I registered at interactive brokers through you.

Especially the easy to understand fees table was great!

XM safety
things always worth considering

When you assess a stock broker it's best to think through the following aspects:

What authority or authorities regulate the broker? In other words who can you turn to if something goes south?

Does it offer negative balance protection?

How much protection do you have?

For how long XM has been in operation?

Is it publicly traded itself?

How transparent is it?

How much do they protect your account from unauthorized access?

What auditor audits the brokerage?

As you see there are a number of aspects above. But not all of them were created equal.

We think the most important feature is to be regulated by at least one trustworthy authority. With a CFD and forex broker, it's also a cardinal info whether the broker provides negative balance protection or not.

Comparing regulators

First and foremost, to gather a wider knowledge about one broker's safety, you should check the regulators of it. For this purpose, we sum up below the most important things to know about regulators and how to interpret them for your individual case.

XM is regulated in the following countries and provide the following investor protection:

XM regulation and investor protection

XM
country of regulation:	cyprus, australia, belize, united arab emirates
investor protection amount:	€20,000 for EEA residents, no protection for others

The investor protection amount and the regulator might differ based on which entity you belong to.

For the avoidance of doubt, it is

By and large your home country (i.E. Your residence, not your passport) that will determine under which regulator you'll fall, should there be more than one regulator.

In some cases you might choose between regulators, and that being said, we recommend you choosing the higher-tier regulator, e.G. FCA over cysec.

Don't forget that regulators are not created equal. Investor protection can also vary from authority to authority. There are top-tier regulators whose excellence lies within their features such as the presence of segregated accounts, the range of protection tools or the investor protection amount itself. Check out a few of the top-tiers in the table below. Most brokers reviewed by BC fall below one of the following four regulators:

Some regulators and their investor protection

FCA in the UK	financial services compensation scheme (FSCS) covers £85,000 of each account's deposits.
SEC, FINRA in the US	securities investor protection corporation (SIPC) covers up to $500,000, including a $250,000 limit for cash.
Bafin in germany	€100,000 for cash, and €20,000 for securities.
ASIC in australia	no investor protection.

Open account
78.04% of retail CFD accounts lose money

As you could see above, XM is supervised by the cysec or cyprus securities and exchange commission. Cysec monitors the cyprus stock exchange, registered brokers and companies, and the transactions taking place on the stock exchange.

Cysec also monitors licensed collective investment funds, registered investment service companies, companies that operate mutual funds and investment consultants. Cysec covers €20,000 or 90% of investor's claim (whichever is lower) per person per firm, in case of broker bankruptcy. They also introduced a negative balance protection. At XM a non-cypriot citizen is treated the same way as a cypriot resident in case something goes wrong.

There are some brokers that provide additional insurance because they have private insurance (e.G.: etoro through lloyd's, among the US brokers charles schwab and ally have similar setups), which means that you have an extra safety net above the regulatory. It's worth checking it out when you're choosing your broker.

XM safety
additional "nice to have" safety features

The subsequent bullet points are rather supplementary, “nice to have” features. Ticking them definitely adds to the safety and legitimacy of an online broker, but not having them is not necessarily a big red flag.

Banking background

XM doesn't have a banking background, which is not crucial, but would mean another guarantee for safety. The reason is that even if it's not required by law that a struggling broker must be saved by its parent bank, in most cases you can count on this happening.

Broker listed on stock exchange

XM is not listed on any stock exchange, hence it's harder to get detailed or any kind of direct information about its financial performance.

Why is being listed on the stock market useful? For two reasons:

Listed companies by and large have stringent reporting requirements

If something really goes wrong with the broker, you'll be able to tell it from the (rapidly falling) share price of the broker in most cases. In this unlikely scenario, you'll have time to move your funds and securities to another broker.

Annual financial statements on website

XM doesn't publish annual financial statements. These are sort of financial reports, which generally contain information about a brokerage's income, profit and loss, retained earnings and cash flows. Not having these exposed to the public doesn't necessarily mean that a broker is not safe or legit, it's just a factor that we should take into account when choosing where to invest or trade.

Mobile two-step authentication

XM doesn't provide two-step authentication when logging in, which is not so pleasing, since it might be easier for hackers to compromise clients' accounts.

Broker ownership transparency

Ownership structure of XM is public, everyone can check the owners of the company on their website, which adds to their safety scores.

Broker management transparency

XM is transparent about their management structure, which means that anyone can see who is in charge of management issues at the brokerage.

Broker is audited by the big four

XM is not audited by one of the so-called big four auditors (KPMG, PWC, deloitte, EY), which is not necessarily an issue, however it would guarantee another layer of safety.

Open account
78.04% of retail CFD accounts lose money

Want to stay in the loop?

XM group review

Since it was founded in 2009, XM group has grown to become one of the largest and well-established investment firms with more than 1,500,000 clients worldwide.

XM group provides support for more than 30 languages, while it aims for 99.35% of all its trading orders to be executed in less than one second, with no re-quotes and no rejections.

With clients from more than 190 countries, XM group offers a range of services including currency trading, cfds on equity indices, precious metals, and energies. There are also more than 25+ secure payment methods available to traders, across 16 full feature trading platforms.

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

Used by 700,000+ traders

Established in 2009

Regulated by IFSC, cysec, and ASIC

Min. Deposit from £5

To open a live account, you’ll need a minimum deposit of at least £5. Alternatively, XM group offers a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by cysec (licence: 120/10), and ASIC (AFSL #443670). XM group puts all client funds in a segregated bank account and uses tier-1 banks for this. XM group has been established since 2009, and have a head office in cyprus & belize.

Before we dive into some of the more detailed aspects of XM group’s spreads, fees, platforms and trading features, you may want to open XM group’s website in a new tab by clicking the button below in order to see the latest information directly from XM group.

Full disclosure: we may receive a commission if you sign up with a broker using one of our links.

78.04% of retail investors lose money when trading spread bets and cfds with this provider.

What are XM group's spreads & fees?

Like most brokers, XM group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commisions and spreads displayed below are based on the minimum spreads listed on XM group’s website. The colour bars show how competitive XM group's spreads are in comparison to other popular brokers featured on brokernotes.

XM group
EUR/USD (average: 0.7 pips)	0.1 pips + $10.00	0.09 pips + $5.00	0.1 pips
GBP/USD (average: 1.1 pips)	0.1 pips + $10.00	0.59 pips + $5.00	0.1 pips
USD/JPY (average: 1.1 pips)	0.1 pips + $10.00	0.25 pips + $5.00	0.1 pips
AUD/USD (average: 0.8 pips)	0.2 pips + $10.00	0.17 pips + $5.00	0.2 pips
USD/CHF (average: 2.3 pips)	0.2 pips + $10.00	0.35 pips + $5.00	0.2 pips
USD/CAD (average: 2.9 pips)	0.2 pips + $10.00	0.31 pips + $5.00	0.3 pips
NZD/USD (average: 3.6 pips)	0.3 pips + $10.00	1.1 pips + $5.00	0.3 pips
EUR/GBP (average: 2.4 pips)	0.2 pips + $10.00	1.0 pips + $5.00	0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, XM group’s minimum spread for trading EUR/USD is 0.1 pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with XM group vs. Similar brokers.

How much does XM group charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with XM group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $9.85. Here’s a rough breakdown of the fees and how this compares against IG & XTB .

XM group	IG	XTB
spread from :	$ 1.00	$ 6.00	$ 2.00
commission :	$0.00	$0.00	$0.00
total cost of a 100k trade:	$ 1.00	$ 6.00	$ 2.00
$5 more	$1 more
visit XM group	visit IG	visit XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with XM group?

XM group offers over 261 different instruments to trade, including over 55 currency pairs. We’ve summarised all of the different types of instruments offered by XM group below, along with the instruments offered by IG and XTB for comparison.

FX / currency cfds	XM group	IG	XTB
# of forex pairs offered	55	90	48
major forex pairs	yes	yes	yes
minor forex pairs	yes	yes	yes
exotic forex pairs	yes	yes	yes
cryptocurrencies	no	yes	yes

commodity cfds	XM group	IG	XTB
# of commodities offered	15	34	21
metals	yes	yes	yes
energies	yes	yes	yes
agricultural	yes	yes	yes

index & stock cfds	XM group	IG	XTB
# of stocks offered	160	8000	1606
UK shares	yes	yes	yes
US shares	yes	yes	yes
german shares	yes	yes	yes
japanese shares	yes	yes	yes
see XM group's instruments	see IG's instruments	see XTB's instruments

What’s the XM group trading experience like?

1) platforms and apps

XM group is one of the few brokers that offer both of the metatrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. The combination of downloadable platforms for both mac and windows allows traders to trade with their device of choice.

XM group also offer mobile apps for android and ios, making it easier to keep an eye on and execute your trades while you are on the move.

Still not sure?

2) executing trades

XM group allows you to execute a minimum trade of 0.01 lot. This may vary depending on the account you open. XM group allows you to execute a maximum trade of 100 lot.

As a market maker, XM group 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.

As a nice bonus, XM group are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

XM group also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by XM group here.

Finally, we’ve listed some of the popular funding methods that XM group offers its traders below.

Trading features:

Allows scalping

Allows hedging

Low min deposit

Offers negative balance protection

Accounts offered:

Demo account

Micro account

Standard account

Zero spread account

Islamic account

Funding methods:

3) client support

XM group support a wide range of languages including arabic, chinese, english, french, german, greek, hindi, hungarian, indonesian, italian, japanese, korean, malay, polish, portuguese, russian, spanish, swedish, thai, and turkish.

XM group has a brokernotes double AA support rating because XM group offer over three languages

4) what you’ll need to open an account with XM group

As XM group is regulated by IFSC, cysec, and ASIC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

A scanned colour copy of your passport, driving license or national ID

A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore XM group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with XM group you can visit their website here.

A review & guide to trading with XM

XM group is a group of online regulated brokers. Trading point of financial instruments ltd was established in limassol, cyprus and is regulated by cysec with license number 120/10. Trading point of financial instruments pty ltd was established in sydney, australia and is regulated by ASIC with license number 443670. Let us take a quick look at some of the basic features of this platform which are important to note when considering XM as an online broker.

Trading systems

XM offer a variety of trading platforms, including web trader, MT4 and MT5. Web trader is excellent due to the fact that a client can access real-time market information directly through the website without having the need to download any software. This is ideal for those with limited hard disk space or who wish to access their account through a smartphone.

Metatrader 4 is one of the most popular systems currently in place. Not only are all prices and movements clear, but its user-friendly nature will vastly increase the performance of any trader. It should be noted that both manual and automatic trading options are available through metatrader 4.

Types of accounts

The first level of trading account is known as their micro trading account, which can be opened with $5. This is aimed at those who are learning the forex markets and wish to trade micro lots.

XM group’s standard trading account represents the next level up. As the name suggests, this is the type that is primarily used by seasoned traders who are willing to expose themselves to a moderate amount of risk with standard lots. One of the primary differences with this account is that larger contract sizes are available.

XM zero accounts require a minimum deposit of $100 and offer spreads as low as zero pips, along with XM’s no re-quotes execution policy. It’s important to note that XM charge a total commission of $7 for every $100,000 traded on their zero account.

Demonstration accounts are also available. These are intended for those who wish to try out the platform before making an ultimate decision. Interestingly enough, no less than $100,000 dollars in virtual funds are provided. It should be mentioned that XM also offers islamic accounts for those who wish to trade under the principles of sharia law.

Spreads and commission

As with most online forex brokers, the spreads will depend upon the trading system and the type of account. Spreads can start as low as zero pips (on a zero spread account). An added benefit in regards to these pips is that fractional pricing is available; five digits are provided as opposed to the standard four digits offered in other sites. Both fixed and variable spreads can be chosen by the trader.

There are no commissions charged by XM. Instead, the company makes a profit on the spreads of the trades themselves. There are therefore no hidden fees and the gains (or losses) which a trader makes are quite real.

Underlying assets

There are several different instruments that can be traded through XM. Some of the most popular are:

Forex

Stocks cfds

Commodities cfds

Precious metals cfds

Energies cfds

Equity indices cfds

No EFT trading is supported by this platform.

Reliability and efficiency

XM.Com is considered by many to be one of the most reliable platforms available for those who wish to execute real-time trades (nearly 100% are completed in less than one second). There will be no re-quotes and all figures are as they stand upon the execution of a position. Due to the use of the previously mentioned trading platforms, there is little lag times between the observed prices and their actual market equivalents. However, this will partially rely upon the processing power of one’s computer and its connection speed.

Payment and withdrawal methods

XM group accepts the most commonly used local payment methods today including credit/debit card, neteller, skrill, bank wire transfer, etc.

It should be noted that it’s currently not possible to use paypal to deposit or withdraw funds.

Customer support

XM boasts appreciable levels of client engagement and support. A live chat widget, email and telephone number are offered as standard to clients of all account levels. One of the most interesting features of this support is that (currently) XM provides customer service in no less than 20 different languages. Facsimiles are also able to be sent to four different numbers depending upon one’s physical location. These support services are only available from monday through friday. Any requests put forth during the weekend will be addressed on the next business day.

Conclusion

XM group is quite a popular online broker for traders of all skill levels. Its primary benefits are the high reliability of trade executions, easily manageable platforms, and no order rejection.

Still, there are some downsides to be noted. As mentioned previously, the use of paypal for money transfers is currently not supported. There is little difference (besides the risk and trading volume) of the three account types. Finally, the fact that customer support is only available from monday until friday may slightly aggravate some traders who wish to execute positions during the weekend. XM.Com is nonetheless a powerful online forex broker which should not be overlooked.

Marcus founded brokernotes in 2014 after trying hard to find a broker for himself to trade and struggling to compare brokers like-for-like. You can find more about brokernotes & marcus here.

Cfds are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from www.Xm.Com on 01/01/2021.

XM group not quite right?

Compare these XM group alternatives or find your next broker using our free interactive tool.

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.

XM reviews

134 • average

Write a review

Reviews 134

My experience with this company is…

My experience with this company is terrible. I lost my money to this people and no one was talking about a way out of the mess. The customer care representative I spoke to kept saying there’s nothing they could do and then they stopped picking my calls or replying my mails. It was after I involved
( recoveryloop.Tech) they work on my case which prompted this company to refund

LOOKING TO INVEST AND EARN DAILY ?

I am happy to recommend / www. Premiumkoins.Com / to you. They are unique in their own way, pay immediately after request, also have a good customer service and customer relationship.

Great!

Great!
Great experience,I claim all my loss after an encounter with mrs stephen cole .Get in touch with her and be happy
check my bio for her info

Officialdebtsreclaim.Net

Officialdebtsreclaim.Net
it worked !! I was happy again I never experienced such a genuine personnel who helped claimed back my money and brought the scammers to justice

Five stars to mr sam for helping get…

Five stars to mr sam for helping get back my lost funds from those scumbags out there through legal action.

Thanks you very much sir. Now I can smile again, ��

Be careful

Be careful! This page is SCAM!
As soon as I requested payout my account was suspended and I could not log in anymore. Then I got in contact with
(lorrainerahn 89 ya hoo)
they were able to get my money back as promised.

I was scammed I thought my whole world…

I was scammed I thought my whole world was crumbled now I'm happy and healthy I got all my lost back

Scam. They stopped me from buying GME and they said is to protect my portfolio. Sorry since when I hired you as my financial advisor? Manipulators! Leaving. I made 20k within 6 months.. Do you think i need your advice now?

These people are scammers and will keep…

These people are scammers and will keep everything you deposit with them. Stay well clear. I managed to get everything refunded with help of

Finally i can smile again!

Their graphics get frozen when you are…

Their graphics get frozen when you are going to make huge gains. Its a clockwork second by second when you lose and it gets frozen when amount turns into green. After several emails and several complaints they still blame the exchange market itself. I lost recently 3.8k euro on gains and end up with 600 loss approximately. The graph hit 158 and my T/P was at 145, the trade didnt close. I dont know if they are manipulating it or its just a bad luck. But it all happens due to their system and malfunctionality and they have to cover that loss for their customers instead of pushing it back without checking the logs.

Thiefs

They never paid me my withdrawel

Not bad but.

The XM platform is good, MT4 or MT5 is also good, withdrawals via skrill no problem, in less than 24hrs you get your funds if your account is verified and everything must be under your name, thats normal.
I only have one complaint: many times it happens that they don’t let you set a stop loss on less than 40 or 50 pips, that is crazy! I am not talking about exoric forex pairs that I would understand.
For this reason I will not trade with them anymore!

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.

XM forex broker review

Overall conclusion

IC markets broker features
⭐ rating out of 5	5.0
�� head office	cyprus
��️ year founded	2009
⚖️ regulator	FCA, ASIC, cysec
↕️ maximum leverage	500:1
�� minimum deposit	$5
��️ platforms	MT4, MT5
�� mobile apps	yes
�� algorithmic trading	yes

XM is a recommended forex broker. They operate in multiple strict regulatory environments and have a good regulatory record. They have very good protections in place for forex traders. They also have very competitive trading conditions, with some of the lowest transaction costs available. Of note is that they offer permanent demo accounts, which is of particular benefit for new traders.

Don’t open an account with XM before reading this.

Brief background

XM is a forex broker founded in 2009. XM has grown steadily since that time to establish a global presence in the retail forex industry. XM is the trading name, and is owned by trading point, whose corporate headquarters are in limassol, cyprus. The company deals worldwide through its various wholly owned subsidiaries, with over 1,500,000 clients across almost every country in the world.

✅ summary of regulatory status

XM is regulated as different companies in different regulatory regimes. The best choice of XM companies to open an account with depends on the preferred regulatory regime and the client’s country of residence. The country of residence may restrict which company can be used to open an account. The differences in regulatory regime may be very different from one company to the other, so it is important for the potential forex trader to read through the following to better understand how those differences can affect them. The of forex companies carrying the XM brand, and their regulator as described as follows, in order of preference:

Trading point of financial instruments UK ltd is regulated in the UK by the financial conduct authority (FCA), under reference number 705428.

Trading point of financial instruments ltd is regulated in cyprus by the cyprus securities and exchange commission (cysec), under license number 120/10.

Trading point of financial instruments pty ltd is regulated in australia by the australian securities & investments commission (ASIC). They operate under the australian financial services license number 443670.

XM global limited is regulated in belize by the international financial services commission (IFSC), under license number IFSC/60/354/TS/17.

A comparison of how the different regulatory authorities compare for the XM offerings is as follows:

The FCA is a highly reputable regulator

FCA regulated brokers are subject to the financial ombudsman service (FOS) for retail forex broker complaints. Any complaints should first be addressed through the broker’s own complaint resolution process. If the complaint is not resolved to the satisfaction of the forex broker, the complaint can be escalated to the FOS, where the FOS can force a resolution in favour of the trader if it is warranted. This is a powerful regulatory mechanism that makes dealing with an FCA regulated broker much safer than dealing with unregulated forex brokers.

Clients of FCA regulated brokers benefit from the financial services compensation scheme (FSCS). The FSCS is a compensation fund of last resort, to protect customers against bankruptcies of their financial services company. In the unlikely event that the broker cannot return client money, clients may be eligible up to £50,000 of compensation from the FSCS. This protection applies to all clients of that forex broker, and the client does not need to be a citizen of the UK to qualify.

Brokers who are regulated by cysec must meet strict regulatory requirements. These requirements include provisions for:
- Acting in the best interests of their clients
- Accurately communicating the nature of the service and its associated risks
- Maintaining accurate records
- Taking reasonable measures to protect clients from risk from 3rd parties that the broker outsources services to
- Safeguarding client funds and not commingling them with broker operating funds

Cysec rigorously monitors forex brokers and does not hesitate to penalize them and revoke their licenses. There are few forex regulators who go after their forex brokers so aggressively.

Cysec provides a financial ombudsman service to clients who have legitimate complaints against their broker

Cysec regulated brokers are members of the investor compensation fund for customers of cypriot investment firms (ICF). In short, this is a fund designed to compensate clients of a forex broker, if that forex broker is unable to meet its financial obligations to its clients. A typical example would be if the forex broker goes bankrupt, the clients can recover their account balances via the fund. It is important to note that the maximum payout by the fund is EUR 20,000 per client.

Brokers regulated by ASIC must publish a product disclosure statement (PDS), and financial services guide (FSG). These documents provide prospective clients with information that describes exactly what products and services they would be receiving in plain english instead of lawyer-speak. Included are detailed descriptions of the risks that clients are taking on. This is very useful because it provides additional transparency for clients of XM.

Signing up for XM’s australia company provides the additional benefit of the financial ombudsman service (FOS). This service is provided by an independent third party to resolve complaints that clients have about their australian forex broker. If a forex trader has a complaint, they must first attempt to resolve it with their broker. If the trader is unsatisfied with the outcome, they may make a complaint to the FOS. After hearing both sides, the FOS will issue a judgment, and this judgment is binding on the broker, if desired by the trader. This is an excellent mechanism to protect traders from any bad behavior by XM’s australia company.

Unfortunately, clients of XM’s australia company do not receive special protection of their client funds in the event that XM in australia goes bankrupt or is otherwise unable to return their client’s account balances.

ASIC does keep an eye on their regulated brokers, and issues fines and penalties where necessary to brokers who violate the regulations.

The IFSC is a weak forex regulator with a poor reputation compared to other forex regulators

Forex scam alerts recommends against opening an account with an IFSC regulated broker

XM has had a regulatory warning from japan and ASIC regarding soliciting clients without meeting all of the requirements for soliciting new clients in those countries. Forex scam alerts attributes this to “growing pains” associated with expanding and restructuring its business. These are of relatively minor concern vs the much more serious and harmful actions of other brokers reported elsewhere on this site.

The FCA is the most reputable forex regulator from the list above and offers what we think is the best protection for potential clients. As such, the remainder of this review will be for XM’s UK company that is regulated by the FCA. This company is trading point of financial instruments UK ltd, which we will refer to as “XM”. Potential clients are advised to take care which of XM’s trading companies they are opening an account with, as trading conditions may vary from one XM company to the next.

✅ counterparty risk

Counterparty risk is the risk a client takes on that is associated with their forex broker going bankrupt or otherwise not being able to return their funds to them.

XM is the counterparty for all forex trades placed by clients of XM. We assess the counterparty risk for XM to be low compared to other forex brokers, due to:

All client money is segregated from the company’s own funds and is kept with highly-rated banks in europe.

The FCA requires daily internal and external reconciliations to ensure the company keeps enough money in its client accounts to cover all client funds.

If XM cannot pay back its client funds, clients can recover their account balances from the financial services compensation scheme (FSCS).

XM has a strong track record, as evidenced by its survival during the SNB swiss franc event of january 2015.

During the SNB swiss franc event of january 2015, it was business as usual for XM. XM advised “the overall effect on the company’s business is immaterial. We remain financially strong, well-capitalized, at levels well in excess of global regulatory requirements”. This gives reasonable assurance that if XM managed past events so well, that they have a good chance of doing so when there is a similar event in the future. Other brokers went bankrupt during the SNB swiss franc event of 2015.

XM notes in its risk disclosure statement that the losses can never exceed the balance of your account, because of XM’s negative balance protection. This is important, as during the SNB swiss franc event, many other forex brokers had clients with negative balances and some forex brokers took legal action against their clients to recover the shortfall. XM’s negative balance protection assures this will not happen to their clients.

✅ broker type

XM uses the market maker business model. This business model carries a higher risk because it puts XM in a greater conflict of interest vs other business models like straight through processing. In an unregulated business environment, this would be a huge red flag. However, for XM we are satisfied that this is less of an issue due to:

The FCA has a lot of regulatory requirements in place to manage the risk from conflicts of interest

To meet FCA requirements, XM has a public conflict of interest policy that has seeks to appropriately manage conflicts of interest

To meet FCA requirements, XM has an order execution policy for retail clients. This policy requires that XM takes all sufficient steps to achieve best execution of client orders. It is notable that XM has a symmetric slippage policy. This ensures that slippage can benefit the client as often has it hurts the client. Unregulated brokers often make a lot of money from asymmetric slippage policies, so it is significant that clients of XM are protected from this.

XM has a dispute resolution process, and is subject to the financial ombudsman service if a client believes XM has violated their policies

Additionally, the market make business model allows for the most rapid execution of trades, which is of greatest benefit to frequent traders.

✅ spreads

XM offers great spreads. They offer a choice of price models depending on the account type. They have a standard account with an all-in spread with no added commission. The following shows a sample of spreads for major currency pairs for the standard account:

XM also offers an “XM zero” account which offers even lower spreads with a fixed commission. The spreads can be as low as 0 pips, hence the name XM zero, but they average higher than that depending on the currency pair. The commission charged is 3.5 USD per 100,000 USD traded. This commission is on par with commissions charged elsewhere. The low spreads and competitive commission make the XM zero account transaction costs among the lowest in the retail forex industry.

The following are the spreads for the XM zero account:

✅ accounts and funding

Clients of XM can fund their accounts using a wide variety of methods. XM UK options are a little more limited, but XM global limited offers a much wider choice. Options for XM UK include:

Wire transfers

Electronic payment providers such as neteller, skrill, and others

Credit / debit cards

Deposit fees are generally covered by XM. However, fees charged by the issuing bank must be paid by the client depositing funds. As an example, XM does not charge for receipt of bank wire transfers, but a client’s issuing bank typically charges the client to transmit the wire transfer.

Withdrawals can be done through most of the same options as for deposits, with some exceptions. Impressively, XM does not charge anything for withdrawals, regardless of withdrawal method. It is unusual to see this no fee policy applied so broadly, which means XM is covering a cost out of their own pocket in the name of good service.

XM allows for deposits and withdrawal of funds in a wide variety of currencies for most deposit methods, particularly the most popular ones. For example, wire transfers are accepted for: USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF, SGD, ZAR.

Of particular importance to new traders is that XM offers demo accounts that do not expire. This is an unusual and important feature, as it can take months or years for a new trader to learn how to trade profitably. It is very important to have a chance to do this before risking real money. Please see our article on how to start trading forex safely to find out more about the importance of this.

✅user interface

XM offers a reasonable choice of trading platforms for traders, including the most well known and popular platform for forex trading. Options include:

The classic MT4 platform in PC and mac versions

The newer MT5 trading platform, also in PC and mac versions

A web trading platform, which allows you to access your trading platform from anywhere with an internet browser

MT4 or MT5 mobile trading platforms for ios and android operating systems

The following is an example of XM’s MT5 user interface:

Other

Trading with XM offers the following additional features:

Trade more than forex. You can also trade stocks, commodities, equity indices, precious metals, energies and cryptocurrencies

Free access to market research and daily technical analysis

Access to daily forex trading signals (we recommend caution with these)

Broker reviewed: XM
review date: 2019-11-15
rating out of 5: 5.0

Forex broker reviews

XM group broker review 2021

Platforms

Tradable assets

Spreads

Customer support

Credibility

Fully regulated by cysec, FCA and ASIC

Forex islamic accounts available

Over 20 supported banking methods

Unlimited demo account

$5 minimum deposit

Introduction or skip content and read the bottom line!

XM group is a group of regulated online brokers.

Trading point of financial instruments ltd is established in 2009 and it is regulated by the cyprus securities and exchange commission (cysec), trading point of financial instruments pty ltd is established in 2015 and it is regulated by the australian securities and investments commission (ASIC) and trading point of financial instruments UK ltd is established in 2016 and it is regulated by the financial conduct authority (FCA).

They are highly regarded for offering a range of MT4/MT5 platforms across various workstations but is this the only advantage that they have?

Let’s get down to business!

XM group overview
founded	2009 – trading point of financial instruments ltd 2015 – trading point of financial instruments pty ltd 2016 – trading point of financial instruments UK ltd
platform	MT4 for PC, MT4 for mac, MT4 multiterminal, MT4 webtrader, MT5 for PC, MT5 for mac, MT5 webtrader, MT4 for iphone, MT4 for android, MT5 for iphone, MT5 for android, MT4 for ipad, MT4 for android, MT5 for ipad, MT5 for android
minimum account size	$5
minimum lot size	0.01
tradable assets	300+
maximum margin	1:500
spread on EUR/USD	1.8 pips
payment methods	multiple local payment methods
demo account	unlimited time
accepts US traders	no
regulated	FCA (UK) – trading point of financial instruments UK ltd (XMUK) ASIC (AU) – trading point of financial instruments pty ltd (XMAU) cysec (CY) – trading point of financial instruments (XMCY)
support	phone, fax, email, live chat
website	www.Xm.Com

Registration 10/10

XM supports traders from most countries and there are only a few exceptions such as the USA and canada.

If you’re unsure if they will accept clients from your country, you just need to visit their registration page, click on the country of residence dropdown list and see if your country is available.

You won’t be able to sign-up using your social media accounts but as we said, this is a minor issue.

So how to sign-up with XM group?

Via the online registration form, you need to supply them the following information:

First and last name

Country of residence

Preferred language

Phone number

Email address

Preferred trading platform type

Preferred account type

After submitting these details, you will be taken to the second and last part of the registration where you will need to fill-in your date of birth and complete address. You’ll also need to accomplish your trading account details, investor information, investor profile and knowledge & experience.

The sections investor profile and knowledge & experience will determine whether you can open a trading account with them so be sure to answer them correctly and accurately.

Want to register now with XM? You can click on the button below and we’ll take you straight to the sign-up page:

Account types 8/10

XM group offers several account types and you’ll have the flexibility to choose the most appropriate one that is suitable for your trading needs and goals.

As of this writing, the following accounts are offered by XM global:

Micro

Standard

Ultra low

Each account type has a suite of features and perks such as base currency options, contact size, leverage, commission, maximum open/pending orders, minimum lot size, lot restriction per ticket, bonuses and others.

And here’s the surprise: BONUSES!

What makes XM a standout from the rest is that they continue to offer an attractive bonus of up to $5,000!

This two-level welcome bonus is among the highest trading promotions in the market today particularly from an established online brokerage and not just from unknown brands.

The availability of the bonuses and types of accounts vary and will be dependent on the country from which you are based in.

For example, in australia, they offer micro, standard and ultra low. If you’re in cyprus, your account options are micro, standard and XM zero.

Demo account 10/10

Opening an account with XM group will give you access to their free demo account that will allow you to make practice trades with live market conditions.

The $100,000 virtual funds won’t have an expiry so you’ll have the liberty to use it at your own pace and as long as you want.

If in case that you’ve already used up these virtual funds, you just need to open another demo account but you can only do this for 5 times.

We can’t emphasize enough…

If you’re a beginner then we STRONGLY recommend that you take advantage of this free feature in order to learn the platform, maximize its usage, explore other features and even try out all possible strategies so you can discover which one works best for you and prepare yourself for live market trading.

Payment methods 10/10

XM group’s supported payment methods is quite extensive and adds more flexibility on adding funds into the account.

They accept the most commonly used local payment methods today including:

Credit/debit cards

Online bank transfer

Neteller

Skrill (moneybookers)

Webmoney

Sticpay

And currency is accepted since it will be converted automatically into your account’s base currency based on the prevailing inter-bank price.

XM group won’t charge you with transaction fees for both deposits and withdrawals. Deposits less than $200 for international bank wire transfer however are not covered.

Minimum deposit 10/10

Opening a standard or micro account starts with just a minimum deposit of $5 which is extremely lower than the requirements of other forex brokers.

For the ultra low and shares accounts, the minimum deposit requirements are $50 and $10,000, respectively.

Such affordability is an opportune way for those who want to start with a low trading capital and also for starters since there’s no need to deposit a very large amount and it effectively allows proper fund management.

Platforms 8.8/10

XM has an extensive range of metratrader 4 and 5 platforms that can be accessed using just one account:

MT4 for PC

MT4 for mac

MT4 multiterminal

MT4 webtrader

MT5 for PC

MT5 for mac

MT5 webtrader

MT4 for iphone

MT4 for android

MT5 for iphone

MT5 for android

MT4 for ipad

MT4 for android

MT5 for ipad

MT5 for android

For desktops, it can be installed and run on both windows and mac operating systems while in the mobile platform, they have dedicated apps for smartphones and tablets that are running apple or android operating systems.

In addition, they also have webtrader platforms that can be accessed with any web browser.

They have every solution for almost any kind device or computer.

Design 10/10

XM definitely found a way to make their interface very inviting and this can be credited to their organized but simple layout.

Regardless if you use the desktop, mobile or the web-based platform, you can easily log-in and trade without any delays or long waiting time.

XM MT4 webtrader platform

Tradable assets 8.8/10

This broker has more than 300 instruments which can be traded on their platforms. This mixture of available assets opens a lot of chances to find an opportunity to earn and make profits.

Here are the current instruments that you can invest on:

If you’re into currency trading, you’ll have plenty of currency pair options including majors (EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD and USD/CAD), minors (EUR/GBP, EUR/AUD, GBP/JPY, CHF/JPY, NZD/JPY and others) and exotics (USD/SEK, USD/NOK, EUR/TRY, USD/TRY, USD/DKK, USD/HKD and others).

Commodities

Common commodities like cocoa, coffee, corn, cotton, soybean, high grade copper, soybean, sugar and wheat are available for trading.

Precious metals including gold and silver, and energies such as brent crude oil, london gas oil, natural gas and WTI oil are also available.

You can invest on popular equity indices like ASX 200, china 50, EURO STOXX 50, CAC 40, DAX, FTSE.AT, HSI, FTSE MIB and nikkei on cash and futures cfds.

Choices are aplenty for stocks trading via XM group as their platforms will give you access to various shares of popular companies in the US, australia and EU (austria, belgium, finland, france, germany, greece, italy, netherlands, norway, portugal, russia, spain, sweden, switzerland and UK).

Cryptocurrencies

This new asset class is also available on XM group’s platforms. You can trade on digital coins including bitcoin, bitcoin cash, ethereum, litecoin and ripple.

Trading cryptocurrencies via cfds is not the same as buying/selling cryptocurrencies from an exchange.

Minimum lot size 10/10

We can’t emphasize enough:

The size of your lot will directly influence your risk management and the smaller the lot, the better you can control your risk.

Most retail brokerages allow their clients to trade with micro lots which means a buy or sell order will be placed for 1,000 units.

The fact of the matter is…

Micro lots are the smallest tradable lot size that are usually allowed by most brokers and the good news is that this brokerage offers the same size for specific account types.

For micro accounts, XM group’s minimum accepted lot size is 1 lot or 1,000.

For the standard account, it’s 100,000 units while for the ultra low, the standard ultra account’s minimum accepted size is 100,000 and 1,000 for the micro ultra.

Spreads 9.9/10

With XM’s tight spreads the prices don’t need to move as much in order to make a profit.

The spread for the EUR/USD currency pair is 1.8 pips which is already considered to be better than what most brokers can provide.

Quotes accuracy 9.5/10

It is always important to trade with a forex broker that has accurate market prices because this is where your decision will be largely based on.

The several tests that we’ve done with their platform showed no signs of delays or manipulation with their quotes and the same price is shown for both pre and post deals.

Withdrawal time 10/10

All withdrawal requests are processed within 24 hours if the funds are transferred to XM cards or any of the supported e-wallet methods.

Meanwhile, credit/debit card and bank wires on the other hand can take 2 to 5 business days.

Based on the several withdrawal tests that we made, they were able to fulfill these requests and we were able to get the money back just as they promised.

Customer support 8.7/10

XM group can be reached via phone, fax, email or live chat.

That means you have the option to contact them in almost every channel possible and saving you a lot of time and effort.

So how was our experience with XM’s support team?

Based on our actual conversation with their support agent, we find them to be very direct in providing answers to any of our questions and we never experienced any sort of marketing schemes that other agents from other forex brokers usually do.

Our discussions with them ended with positive results.

Credibility 8.9/10

Regardless of the fact that XM group is a regulated online broker, they are very popular in the forex trading community.

Most of the reviews and comments praise them for having multiple online trading platforms and very flexible trading conditions.

This is based on the verified and professional user comments and reviews that we’ve collected from several trusted review sites, forums, trading sites and social media.

Regulation and license 10/10

XM group is licensed and regulated by the following:

Financial conduct authority (FCA) – trading point of financial instruments UK ltd (XMUK) under reference number 538324.

Australian securities and investments commission (ASIC) – trading point of financial instruments pty ltd (XMAU) with license number 443670.

Cyprus securities and exchange commission (cysec) – trading point of financial instruments (XMCY) with licence number 120/10.

This means that they are abiding by the rules and regulations that are set by these trusted financial authorities so you can trade with peace of mind.

Conclusion 9/10

Aside from the fact that XM group is a group of regulated online brokers, there are plenty of other compelling reasons why they topped our list of recommended forex brokers today.

The wide range of tradable instruments, the multiple online trading platforms, the fast processing of withdrawals and the highly flexible trading conditions are just some of its strong advantages.

An unlimited demo account and extremely low deposit is also worth mentioning.

So it all adds up to this:

XM group has all the attributes of being a trusted and superior broker for any forex and CFD trader.

Forex and CFD trading involves significant risk to your invested capital.

So, let's see, what we have: learn about the safety of XM. Find out which financial authorities regulate XM and what other factors contribute to its safety. At xm legit