XM Review & User Rating 2020
XM is brand name of Trading Point Holdings Ltd. It is regulated by CySec in Cyprus, ASIC in Australia, the IFSC in Belize, and the FCA in the UK.
XM provides investors with access to trading currencies, as well as CFDs, indices, stocks, precious metals, and commodities.
- Start year:2012
- Country of origin:Belize
- Regulation:FCA, ASIC, IFSC (Belize), CySEC
- Payment options:bank cards VISA, MasterCard, bank transfers, electronic payment systems WebMoney, VISA Qiwi Wallet, PayPal, liqpay.com, RBK Money, Yandex.Money, Svyaznoy, Alfa-Bank
- Minimum account size:$5
- Minimum lot size:0.01 lot
- Leverage:up to 1:888
- Spreads:from 0 pips
It is very simple to open an account with XM. During registration, a trader has to choose the main currency of the account from the following: AUD, JPY, GBP, CHF, PLN, HUF, USD, ZAR, EUR, SGD, or RUB. Then it is required to select a payment method that will be used for deposit and withdrawal of funds, and one of the three account types.
The Micro account is developed for novice traders and those who want to test their trading strategy. It requires a minimum deposit of $5.
The Standard account differs from the previous one in deal size. On the Micro account, 1 lot is 1,000, while 1 lot for the Standard account is 100,000. Otherwise, the conditions are similar. The minimum deposit is $5.
The highest available leverage on these two accounts is 1:888. The leverage size depends on the deposit size.
It is also advisable to consider the XM-Zero account. The minimum deposit is $100, leverage is 1:500. This account requires a commission. Spreads are as low as 0 pips. The following currencies are available: USD, EUR, and JPY.
XM is a typical market maker. It offers average spreads – from 1.6 to 2.6 pips.
Moreover, the XM system allows traders to try various trading strategies, for example, hedging, scalping, and use of automatic signals.
Islamic accounts are also available on request.
In the XM training center, traders can participate in weekly webinars, which are conducted in 13 different languages, including English, Russian, Arabic, Bengali, Indonesian, Polish, and others. Webinars are prepared by professionals – you can read their biographies on the website.
In the announcement of the upcoming event, the company adds the topic and briefly describes what information a trader will receive. It is very convenient as you can immediately find out whether this topic is interesting for you or not.
The website also contains video tutorials that cover many topics from how to start work on Forex (for example, how to open an account) to intricate details of the market.
The economic calendar is a list of upcoming events that take place in global markets. In addition, the company organizes seminars in various countries.
The Bloomberg TV section contains video market reviews.
A XM client can become a partner of the broker by registering an affiliate account. The company provides a very generous commission of up to $10 per lot from one client, timely payments, and personal account managers who speak 30 languages.
XM clients can trade on the MT4 and MT5 platforms. You can use a PC as well as Apple and Android mobile devices for trading. If you are trading using a tablet or smartphone, you still can exploit full functionality of the platforms. These two platforms are in great demand among traders thanks to a user-friendly interface and useful trading functions. You can also trade on XM’s WebTrader platform, which opens directly in a browser.
Those clients who prefer MT4 will not be able to trade stocks and use the XM WebTrader platform.
Bonuses and special offers
XM offers its clients several campaigns. The most generous offer is the Welcome bonus of 100% (up to USD 5,000). The loyalty program includes special seasonal bonuses several times a year. These are exclusive offers with monetary rewards. This section also contains free VPS services and zero commissions for deposit and withdrawal of funds.
XM supports the following payment methods: bank cards (VISA, VISA Electron, MasterCard), electronic payment systems (Neteller, Moneybookers (Skrill), Qiwi, Moneta.ru, Yandex.Money), bank transfers.
The funds can be withdrawn using the same methods. A trader only needs to click Deposit or Request withdrawal to make a transaction.
XM customer service is open 24 hours a day from Monday to Friday. The support team speaks 20 languages. Traders can contact representatives of different departments at several international locations by email, phone, or a live chat.