XM

Details

Broker XM
Website URL xm.com
Founded 2009
Headquarters Cyprus
Support Number +357 25029900 (Cyprus), +64 33353327 (New Zealand), +357 25029920 (Back Office), +357 25029900 (Customer Support), +357 25029910 (Dealing Room), +357 25029930 (Sales)
Support Types Customer support is reachable 24/5 through Live Chat and Email. Arabic, Bahasa Indonesia, Bahasa Malaysia, Chinese, English, French, German, Greek, Hungarian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, Swedish, Italian, Turkish, Vietnamese
Languages Arabic, Bahasa Indonesia, Bahasa Malaysia, Chinese, English, French, German, Greek, Hungarian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Thai, Swedish, Italian, Turkish, Vietnamese
Trading Platform Android Trader , iPhone App , MT4 , Web Trader
Minimum 1st Deposit $5
Minimum Account Size $5
Bonus Up to 5000$ Bonus
Leverage 888:1
Free Demo Account Yes
Regulated Yes
Regulation ASiC , CySEC , FSP
Deposit Methods China UnionPay, Credit Cards, iDEAL, Moneybookers Skrill, MoneyGram, Neteller, SOFORT, WebMoney, Western Union, Local Bank Transfer and Wire Transfer
Withdrawal Methods China UnionPay, Credit Cards, iDEAL, Moneybookers Skrill, Neteller, SOFORT, WebMoney and Wire Transfe
Account Currency USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 4.7/5

Pros

  • Up to 5000$ Deposit Bonus
  • Leverage up to 888:1
  • Strict NO re-quotes
  • Multilingual support
  • Efficient trade execution (99.35%)
  • No rejection of orders (100% execution)
  • Minimal 1st Deposit is only 5$

Cons

  • Not having any funding option for Paypal
  • Doesn’t differentiate much in terms of benefits between the different types of trading account.

XM is one of Europe’s most reputable, leading Brokers which established themselves in 2009. Their mission is to keep pace with global market demands and approach clients’ investment goals with an open mind. XM is a fully regulated company with the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). The Company is also registered with the New Zealand FSP, the UK’s FCA, and many otherEuropean regulatory bodies. Clients who trade with XM benefit from their no re-quotes and no rejection policy which has been in place since they began. Investors from 196 countries around the world are able to trade forex, precious metals, stock indices, and energies in a trading environment which is fair and transparent.

XM Reliability
As the Forex market gets more and more competitive, many brokers are trying to reshape their image to meet the changing market environment. One of the latest brokers to embark on such an exercise is XE Markets. Formerly known as Trading Point of Financial Instruments Ltd, this broker was founded in 2009. Such a move is hardly surprising as many online brokers have to grapple with the issue of reliability due to the paradigm shift in the financial trading environment. At the end of the day it boils down to how well traders perceive these online brokers to be regulated by the relevant authorities.

Regulations Governing XE Markets
As a registered company operating in the Republic of Cyprus, XE Markets is regulated by Cyprus Securities and Exchange Commission (CySEC). The significance of this is the fact that Cyprus is a member of the Eurozone. This mean Cyprus is required to conform to the Markets in Financial Instruments Directive (MiFID) issued by the European Parliament. This directive was issued to ensure that all Eurozone members are required a certain minimum fiduciary standard for the financial service providers operating in the member’s country.

As such the fact that XE Markets is operating from Cyprus or the United Kingdom or any other Eurozone countries makes no difference to the degree of fiduciary duties that the company have to meet. Nevertheless, the company is also registered with and regulated by the UK’s Financial Services Authority (FSA). The reason for this is probably because many newcomers to Forex trading harbour the notion that a Cypriot registered firm is less well regulated than a UK registered firm. Hence to reassure their clients and to displace this misplaced notion, many online brokers like XE Markets voluntarily subject themselves to added regulations for their clients’ peace of mind. For added measure, XE Markets have also registered themselves with German financial regulatory authority BaFin.

Being properly regulated ensures that brokers report their operations regularly to conform to the regulatory requirements and also ensure that traders have access to protection like the Cypriot Investor Compensation Fund in case XE Markets ceases operation.

Operational History of XE Markets
Although previously operating as Trading Point, XE Market have charted up an impressive operational record since 2009. Nevertheless, no company is immune from complaints made by disgruntled clients. However before reading too much into such complaints, we need to understand the nature of the complaints. More often than not, most of these complaints are the results of inexperienced traders having no idea of what they are doing. Most of the time, their frustration led to them labelling their brokers as a bucket shop without having any real comprehension of how the market works or how EU laws work.

No Deposit Bonus Promotion

XM offers its clients multiple additional incentives to start trading and keep on trading, starting with a $30 no deposit bonus. In other words, we give you $30 worth of credit just for opening your first Real Account, allowing you to test our products and services by starting to trade with no investment and no risk.

  • No deposit required
  • All profits earned can be withdrawn
  • Automatically credited to your account
  • Available to new clients

50% Deposit Bonus (up to $500) + 20% Deposit Bonus (up to $5,000)

Trading on an XM Real Account now gives you access to rewards and incentives greater than ever before. A two-tier bonus on your deposit is combined to give you a considerable $5,000 on top of your investment amount, giving you the ability to start trading with more capital.

  • Instant credit on your deposit
  • Applied to deposits from just $5
  • Available on all account types
  • No hidden terms

What is the Deposit Bonus

The deposit bonus is a two-tier bonus offering 50% up to $500 and 20% up to a maximum combined bonus amount of $5,000, or currency equivalent.

Who can claim this

This bonus is automatically available to all clients depositing funds to their account until the maximum bonus amount of $5,000 has been received. * XM Zero Accounts are not eligible to receive Deposit Bonuses.

Deposit Bonus Examples

Use the examples in the table below as a quick reference guide on how the Deposit Bonus is applied in relation to the size of your deposit.

Your deposit Bonus applied Your bonus Trading capital balance
$5 50% on $5 $2.50 $7.50
$1,000 50% on $1,000 $500 $1,500
$2,000 50% on $1,000 + ‏20% on $1,000 $500 + $200 = $700 $2,700
$5,000 50% on $1,000 + ‏20% on $4,000 $500 + $800 = $1,300 $6,300
$10,000 50% on $1,000 + ‏20% on $9,000 $500 + $1,800 = $2,300 $12,300
$20,000 50% on $1,000 + ‏20% on $19,000 $500 + $3,800 = $4,300 $24,300
$23,500 50% on $1,000 + ‏20% on $22,500 $500 + $4,500 = $5,000 $28,500

XM Loyalty Program

earn infinite cash rewards and credit bonuses

With so many rewards and incentives already, you might think that XM could not be any more generous, but you would be wrong. In addition to all other bonuses and rewards, a few times a year XM will offer special seasonal bonuses marking certain calendar events and occasions that will be available for very limited periods of time. In addition to this we will also offer highly exclusive bonuses that will be made available on an invitation only basis.

Free VPS Services

Make the most of XM’s Execution and your EAs

  • Increase the Speed of your Trades
  • Enjoy Optical Fibre Connectivity
  • Accessible from any Location
  • Online 24 / 7
  • Ideal For EAs
  • State of the Art Hardware
XM MT4 VPS – Rapid Trade Execution via Lightning Fast Connection

The XM MT4 VPS solution will allow you to remotely connect to a Virtual Private Server(VPS) located just 1.5km away from our data center in London, with Optical Fiber connectivity.Taking advantage of this service will enable you to make the most of XM’s unparalleled execution without having to worry about other factors which can impede your ability to trade effectively such as, internet connection speeds, computer failure, or power cuts.

Via the XM VPS service, your EAs will be able to work non – stop without you needing to monitor them or even have your computer switched on . The MT4 VPS service will give you access to a Windows 2012 Server with 1.5 GB RAM, 20 GB of Hard Drive Capacity and 600 MHz of dedicated CPU Power.

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