XM Review

Overview

With over 700,000 clients since it was founded in 2009, XM has grown to a large and well established international investment firm and has become a true industry leader.

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Details

Broker XM
Website URL www.xm.com
Free Demo Account Open Demo
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 9/10

Full Review

The XM Company is one of Europe’s largest Forex brokers, with more than 500 000 clients worldwide. It features very loyal trading conditions, abundance of bonus programs and unblemished reputation.

The XM Brokerage company, which full name is Xemarkets, was established in 2009, by the Trading Point of Financial Instruments Ltd. corporation, having the reputation of being one of the world’s best service providers in the field of online trading. The Xemarkets Head Office is in Limassol, Cyprus.

In fact, in the year of 2009, the competition among brokerage firms, offering trading services in the Forex market, forced the Xemarkets to position the company’s services as the most reliable and safe. To do this, Xemarkets enlisted the support of financial regulators as the AFM, FSA, BaFin, BaFin, CySEC and MiFID. The company is also a member of the Compensation Fund For Financial Losses. In other words, Xemarkets has the status of a licensed, reliable service, providing services in the brokerage market.

Currently, Xemarkets has more than one hundred instruments for trading. In addition to standard CDF, Xemarkets offers trading on metals, stocks, oil and stock indexes. The minimum amount required for opening account is $ 5. Xemarkets offera a free training demo account, where you can check out all the features of their services.
Leverage has a wide range from 1 to 1 to 1 to 888. The spread is from 1 pip, floating or fixed, depending on the type of account. With regard to the trading floor, the list of programs on Xemarkets meets all the requirements of modern technology. Beside the presence of a traditional Metatrader 4+, there are mobile MT versions for Android and iOS. You can do trades directly through the site, via a Web Trader. Additionally, there are MT4 Multiterminal and Markets MAM. It is also possible to open a PAMM account.

There is no re-quotes, hedging is permitted, there is a possibility of automated trading, and trading via telephone. We should also mention that Xemarkets is positioning itself as a broker company, conducting systematic promotions, contests, and other activities to encourage more people to participate in trading. Anyone who opened, or top up own account is offered a whole system of so-called loyalty bonus, when the deposit is added to 30% or more of the total sign up amount.

Despite the fact that the company focuses on full support around the clock, however, as practice shows, this statement is more promotional in nature, and does not correspond to reality. As shown by numerous reviews by the company’s customers, technical support, sometimes is being rather slow to respond, but it should be considered as correctable with time.

 

Features

  • The minimum deposit – $ 5
  • Same spreads and quality of transactions for all types of accounts
  • Leverage – from 1: 1 to 1: 888
  • Currency trading with more than 50 currency pairs, trading oil, gold and stock indices
  • Lack of limit of the maximum amount of the deposit
  • 100 percent execution of orders, of which 99.35% take less than 1 second
  • The absence of re-quotes and orders deviation

 

Deposits and withdrawal

Speaking of deposits and withdrawal procedures, the Xemarkets does not lag behind the market leaders, offering its customers the broadest technical possibilities, ranging from the traditional bank transfer, and ending with popular electronic payment services. Usually, the withdrawals take three to seven days, depending on the selected method. However, some customers have cited examples of unpleasant situations, when, in the derivation of funds to an account in a few days dramatically changed the exchange rate, and the expected and actual amounts sometimes differed. This applied to particular cases, the first withdrawal from the account. Well, the company has no guilt,however, the traders should be aware.

 

Regulators

The company’s activity  is regulated by the Securities and Exchange Commission of Cyprus (CySEC) under the license number 120/10.

The company is registered in FCA (FSA, UK), ID – 538324. Trading Point of Financial Instruments Ltd operates in accordance with European Union Directive “On the Markets in Financial Instruments» (MiFID).

FCA (FSA, UK), the Indus. number – 538324 | BaFin registration number 124161 | CNMV registration number 2010157773 | FSP FSP235905 registration number.

Conclusion

The site is multilingual. At the moment, there are 22 possible language display options. The front page is not overloaded with information. Everything is strict, but not austere. If desired, the trader can set the page with the economic calendar, sign up to receive information on free Forex signals, or start learning training video courses.
Among a few drawbacks as the absence of a forum, as well as the lack of normal analytical department, who would be responsible for the daily publication on market sentiment and other profile information that could help traders in their difficult task. But in general, keeping in mind the financial regulators it has, and the vast experience in trading business, the Xemarkets brokerage definitely deserves attention.

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