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XM Forex Trading Review

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Basic Info

Company Name: Trading Point of Financial Instruments UK Limited
Founded: 2015
Country: Australia
Phone: +612 8607 8385
Regulators: ASIC, CySec, FCA
Funding Methods: Credit/ Debit Card, bank wire transfer, local bank transfer, Neteller, Moneybookers Skrill
Support Options: Email, Live Chat, Phone
Platforms: MetaTrader 4, MetaTrader 5
Minimum Deposit: $5
No Deposit Bonus: $30

Screenshot

Screenshot

Funding Methods

Deposit Options: bank wire transfer, credit card, Debit card, Local Bank transfer, Moneybookers Skrill, Neteller
Withdrawal Options: bank wire transfer, Local Bank transfer, Moneybookers Skrill, Neteller

Hits and Misses

  • Wide range of progressive features
  • Low minimum deposit
  • Many trading platforms
  • No U.S. Customers

XM Trading

XM – A Large Broker With A Human Touch

XM is the registered trade name for Trading Point Holdings Ltd. The broker was established in 2009, and its focus is to become a well-established and respected investment broker. The company headquarters are in Cyprus, and it also has another branch in Belize.

Within a short period of time, XM was able to create a name for itself. Today, it has attracted thousands of traders, who trade every day from the multiple platforms provided. According to the broker’s latest statistics, it now has about 1.5 million traders from 196 countries around the world. XM pays great attention to the human side of doing business. It has visited more than 120 cities and met with investors and partners to learn more about their needs.

High Values

XM is a broker with extremely high values. These are mainly visible in the way it takes care of its customers and the community, as well as its third-party service providers. The clients are clearly its priority, and XM does all it can to serve them well. This is clearly reflected in all the company’s activities. The broker is now employing about 300 professionals, all with extensive experience in financial services.

Each year since it was established, XM has won awards for its quality performance.  The latest rewards were in 2017 when the company won the awards for both “Best FX Service Provider” and “Best Trading Support”.

XM Unique Features – 16 Trading Platforms And Outstanding Customer Support

The most striking feature with XM is its eagerness to serve its clients. Its simple philosophy is to ensure customer satisfaction and gain their loyalty, and through this achieve and maintain a good reputation and high credibility. One of its methods is to host seminars and special events for its traders, getting to know them closely and helping them to build profitable trading strategies. XM also ensure that its workforce is knowledgeable through continuous training and development. This means that they can help achieve the company’s strategic objective of providing the best possible customer service.

16 Different Trading Platforms

XM offers their clients 16 different trading platforms, where transactions are executed with high speed. According to XM’s own statistics, more than 1,400,000,000 transactions have been implemented through their platforms, not counting rejection or re-pricing. In addition, 99.36% of all orders are executed in less than one second.

XM also offers its clients a range of unique technical and fundamental analysis, provided by some of the world’s best experts. The broker also provides a wide range of successful trading signals, and all of this is provided free of charge. Traders can also make use of various studies and in-depth market research, along with a range of educational tools to suit all levels of traders.

Trusted And Regulated With Several Licenses

You don’t need to worry about the trustworthiness of XM. XM has several licenses and is subject to control and supervision by several international financial organisations including:

  • XM Global Limited is licensed by IFSC – license number IFSC/60/354/TS/17
  • Trading Point of Financial Instruments Ltd is licensed by CySEC – license number 120/10
  • Trading Point of Financial Instruments Pty Ltd is licensed by ASIC – license number 443670

Reliability And Safety

The broker adheres to strict safety standards to protect client funds. The goal is, of course, to create a completely safe trading environment. All client’s funds deposited with XM are segregated from the company’s own funds and kept in separate bank accounts. It also protects clients from a negative balance. This means that the client will not be held responsible for any negative balance that occurs in times of large market fluctuations.

XM has made agreements with several insurance companies to protect trader funds when exposed to risky situations. It also uses the latest high-quality technology to encrypt its website to ensure the security of the client’s personal information.

Withdrawals And Deposits – Easy, Safe And Fast

Easy, fast and secure deposits and withdrawals are essential for every trader. With XM, traders can make use of 25 different methods, including credit cards, e-wallets and bank transfers. It allows deposits of as little as $5, and it doesn’t charge any commission.

The deposit process takes place immediately, while withdrawals are processed within 24 hours. For security reasons, XM doesn’t accept deposits through any third parties. The broker only accepts payment if the chosen method carries the same name as shown in the client’s legal documents. For the same reasons, it only allows withdrawals to be done with the same method as the original deposit.

More Than 700 Financial Instruments To Trade

XM is among the best companies when it comes to the sheer number of financial instruments provided to clients through various financial platforms. It allows trading of more than 700 different instruments, divided into 7 groups, including Forex. XM offers clients the ability to trade more than 55 pairs of major and minor currency pairs, with very tight spreads and leverage up to 1:888.

No Cryptocurrencies

The broker allows trading in shares, commodities, energy, metals and indices. XM did previously allow trading in a range of popular cryptocurrencies such as Bitcoin, Ethereum and Ripple. However, this was suddenly stopped, due to the lack of reliable liquidity providers.

XM offers its traders 3 types of accounts, that differ mainly in terms of minimum deposit, leverage and spread. It also offers clients the possibility to trade with micro or standard lots.

Modern Trading Software

XM has invested heavily in financial technology so that it’s able to provide the best possible solutions. It mainly depends on the MT4 and MT5 platforms. These platforms are among the most popular in the trading industry and offer accuracy of performance, speed and ease dealing with them. In addition, there are almost no technical errors. These platforms are also available on the web without having to download an app.

Mobile Trading For Traders On The Move

XM also offers the possibility of trading through smartphones, with the MT4 and MT5 platforms that are designed for trading on the move. This way, traders are given an excellent opportunity to trade markets whenever they feel like it. Through smartphone trading, any trader can execute orders, modify them, control charts and use technical indicators, in addition to following up on all the latest market developments.

Customers Support – One Of The Best

As mentioned above, XM see its customers as its main asset. To keep their unique reputation, XM offers its clients a group of ideal services that put it ahead of many other companies. Technical support is available throughout the day 5 days a week and in more than 30 different languages. It also offers account management services in several different languages, to make it easier for customers from all over the world.

Loyal Customers Are Offered Promotional Bonuses

To keep, as well as to reward loyal customers, XM offers a group of promotional campaigns and bonuses. It provides a no deposit welcome bonus of $30 and other bonuses of up to $5000. XM also occasionally organises a series of competitions with big prizes. It has recently organised a global Forex competition, where traders from different countries participated, and the broker distributed prizes worth up to $1 million.

Educational Materials

XM provide customers with a wide range of educational materials, including e-books, videos, webinars and seminars. Clients also receive full access to all their research and studies without any charge. XM also offers a range of community service activities in diverse areas such as health, education, research and development, and they are involved in environmental protection programs.

Other Services From XM

The broker offers its clients a selection of services that have placed it among the most preferred brokers for a growing number of traders. These services also include:

  • Free VBS service, which provides high-speed automated trading anytime, anywhere, without any errors
  • Customer loyalty programs where the clients receive a sum of money for traders who register through them. They will also receive part of the new trader’s profits

A Final Look At XM

It’s safe to say that XM has all the features that make their platform an ideal environment for those who want to trade. They pay great attention to their customers and provide them with a variety of distinctive services.

There is, however, some room for improvement. XM has received complaints about the sudden lack of cryptocurrency trading, as well as the high spreads during overnight trading. Customer service 5 days a week is a great offer, but it would be improved if it was expanded to 7 days a week. This way, traders could also get the help they need during weekends.

XM has developed into a popular broker for traders of all ѕkіll lеvеlѕ. This is mainly due to the manageable platforms, no order rejection, great customer service, and a leverage of up to 1:888. We recommend you visit the broker’s website to get to know more about them or open a demo account with them to explore the nature of their trading and experience the services on offer.

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