Is XM a reliable broker? A review about XM broker

xm broker scam or reliable
XM broker logo
XM Brokers stands under the auspices of XM Global Limited, which is part of the XM Group financial company.

In terms of regulation, XM Global Limited supported by a license from IFSC Belize (60/354 / TS / 17).

From the start, XM brokers quickly gained the attention of traders in the world because they offered advantages such as low spreads, fast services, and various other attractive offers.

At present, XM broker services around 22 languages ​​in the world.

This is in line with his dedication to providing convenience for clients, including customer support that is available 24 hours every Monday to Friday.

Another specialty of XM broker is the availability of deposit and withdrawal options free of fees. What's interesting about the XM broker is its complete research and education content.

XM provides daily news, market conditions research, forex seminars, to live education filled by 20 multilingual professionals.

There are also weekly webinars suitable for beginners to follow. Almost every day there are webinars that traders can follow.

The material covers fundamental and technical basics, understanding trading indicators, how to determine entry and exit, weekly market analysis, and many others.

They post the webinar schedule on the official XM website, complete with the speaker, what time it held, and the expected learning outcomes.

Besides forex, XM provides other trading instruments such as CFDs on stocks, commodities, indices, precious metals, and energy.

To maximize client comfort, XM has also provided trading platforms Meta Trader 4 and Meta Trader 5, and also a web trader.

Can we trust XM?

XM has certified by a prestigious and trusted regulatory bodies such as XM UK regulated by UK FCA (No. 705428), XM Australia licensed by ASIC (No. 443670), XM Global regulated by IFSC Belize (60/354 / TS / 18) and XM Cyprus regulated by CySEC (No. 120/10).

Following the service standards that have set to deposit client funds, company policy has applied separate funds or segregated accounts.

This means that the client's funds kept separate from the company's assets to protect the customer's money if the company goes bankrupt. Client's funds also held in a trusted international bank.

The main advantages of XM broker

XM broker offers a variety of deposit and withdrawal methods for its clients. So that traders are freer to choose the easiest deposit and withdrawal method according to their respective conditions.

One convenience that XM promotes is Zero Fee. For deposits and withdrawals, the XM broker will cover fees if the transaction does with a Credit Card or E-Payment.

If payment via Credit Card or E-Payment considered too long, then another alternative that is more effective and efficient deposited and withdrawal via local exchangers.

XM Brokers also often provide a variety of tempting bonus offers. Bonus bids provided can vary, ranging from deposit bonuses to loyalty-based bonuses.

XM registration is relatively easy. You can register by filling out an online form on the XM website and they will complete the process in just a few minutes. After that, do the verification process by uploading your personal data identity (ID Card) and also documents stating the residence such as telephone bills or electricity bills.

XM broker facility

  • You can start trading only with a deposit of $5.
  • Leverage available is from 1: 1 to 1: 888, so you still earn large profits even though your capital limited.
  • There is a Free SWAP account.
  • No commission deductions.
  • In this brokerage company, you can choose various trading instruments that are most suitable for you such as over 50 forex pairs, CFDs, silver, oil, gold, and stock indexes.
  • We can make deposits on this broker on many types of currencies USD, HUF, EUR, PLN, GBP, RUB, CHF, SGD, JPY, and AUD.
  • Many facilities to conduct financial transactions, namely using credit cards, local bank transfers, bank wire, Western Union, MoneyGram, Neteller, local bank transfers, Skrill Moneybookers, and Fasapay.
  • For depositing deposits and withdrawing profits through credit cards and E-Payment, they do not charge customers a commission fee.
  • For major pairs, spread variables are available starting from 1 pip and starting from 0 Pip on a Zero account.
  • Partnering with this broker will provide the flexibility to apply trading techniques appropriate to your trading character such as scalping, news trading, hedging, and so forth.
  • This broker provides advanced trading platform facilities, namely MT4 which are already very popular among online forex traders, MT5 Multi-terminal, and Web Traders.
  • They connect the trading system at a brokerage company to an automated trading platform system called Zulu Trade.

Different XM trading accounts

For XM brokers, accounts are available in different ways depending on whether it registers you with XM Global or XM CY. For the account itself:

Micro account

  • This account is suitable for beginners who want to jump into online forex trading.
  • To open a real trading account you only need to deposit 5 USD.
  • The value of 1 lot on a micro account is 1000.
  • For traders with a capital of 5 to 20,000 USD, available leverage reaches 1: 888.
  • For major pairs spreads start from 1 pip. For each open lot transaction, the maximum is 100 lots.
  • Available without SWAP fees (Islamic account)

Standard account

  • This second XM broker account is suitable for experienced professional traders.
  • 1 lot is the standard 100,000 lot.
  • The minimum deposit to open a real trading account is 5 USD.
  • For traders with a capital of 5 to 20,000 USD available leverage from 1: 888.
  • Spread starts from 1 pip
  • The maximum open lot for each transaction is 50 lots.
  • Available without SWAP fees (Islamic account)

Zero account

  • This third account is suitable for scalpers.
  • Minimum trade 0.01 lot.
  • The minimum deposit to open a Zero account is 100 USD. 
  • The maximum leverage of zero accounts is 1: 500
  • 0 pip spread and commission charged per trade
  • The maximum open lot for each transaction is 50 lots.
  • Available without SWAP fees (Islamic account)

Ultra-Low Account

  • This account is the newest type of account where trading conditions are like conditions on zero accounts but without commission
  • Ultra-low micro or standard options available with conditions similar to micro accounts and standard accounts
  • Spreads as low as 0.6 and without commission
  • The minimum deposit to open an Ultra-Low account is 50 USD
  • Available without SWAP fees (Islamic account)

For more details about the different accounts at XM broker, you can see the picture below:
micro vs standard vs ultralow vs zero account XM broker
Account types offered by XM broker

XM Achievement

XM broker's reliable performance in the world of forex trading shown by a series of awards gained so far. Capital Finance International Magazine, City of London Wealth Management Awards, World Finance Magazine, Shares Magazine, FX168 gave these awards.

That's a brief review of the XM broker, maybe there are still many shortcomings in the post. Maybe next time if many reads this post there is a possibility that I will update this post again. Thanks. :)

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