Company name: XM (XM.COM)
Founded: 2009
Headquarters: Australia, Belize, Cyprus
Regulatators: AU ASIC / CY CYSEC / UK FCA / BZ FSC / AE DFSA
Minimum deposit: $5
Maximum leverage: 1000:1
FEATURES:
- Trading with micro lots available
- No deposit bonus (subject to jurisdiction)
- Zero fees on deposits and withdrawals
- More than 1,000 trading instruments
Note: BEST FOREX BROKERS 2023 – RATING SCORE OF 4.7 OUT OF 5.0
XM (XM.COM) is a well-regulated and trustworthy broker with great bonus system and really good trading facilities suitable for beginners and professional traders!
XM (XM.COM) reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
XM (XM.COM) Review | XM (XM.COM) Rebates – Forex Broker Rating
Table of Contents
We start our XM (XM.COM) review by highlighting a couple of points regarding this CFDs broker.
XM (XM.COM) Overall Rating
Currently the broker receives a score of 4.7 out of 5.0.
XM is a trading name of Trading Point Holdings Ltd, the parent company of a group of regulated online brokers. For investors looking for safety of funds, XM represents an excellent choice. This highly-regulated broker is supervised in Europe by the Cyprus CySEC. And by the UK’s FCA, in Australia by ASIC, Dubai and Belize.
Also positively, the XM broker boasts more than 1,000 trading instruments. Divided into 5 asset classes, offering traders a complete range of CFDs to invest. With XM investors can trade their favourite currency pair. Or invest in their preferred company stock. Short the Brent, bet on the price of the US 500 and so much more.
On the downside, some traders may reconsider contracting with this broker, due to its business model. XM is a market maker broker! Which could cause a conflict of interest, to some extent, between the company and clients.
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XM (XM.COM) Regulation / Money Protection
Currently the broker receives a score of 5.0 out of 5.0.
XM provides regulated online CFDs trading solutions and it’s possible to open a live trading account with any of XM’s regulated entities. Two in Europe, one in compliance with Australia’s ASIC regulations. One supervised by the Dubai DFSA and one regulated by the Belize FSC, directed at the international clientele.
1) International regulation: XM Global Limited, operating as XM, is the main counterparty for the international clientele. XM Global Limited, with a registered address at Suite 404, The Matalon, Coney Drive, Belize City, Belize, CA, is authorised and regulated by the Belize Financial Services Commission (Belize FSC), with licence number 000261/309. XM international website is www.xm-intl.com.
2) UK regulation: Trading Point of Financial Instruments UK Limited, operating as Trading.com, is a financial services company registered in England and Wales under number 09436004. This entity has a registered office at Citypoint Building, 1 Ropemaker Street, London, EC2Y 9HT, United Kingdom, and is authorised and regulated by the UK’s Financial Conduct Authority (FCA) with reference number 705428. Trading Point of Financial Instruments UK Limited business website is www.trading.com/uk/.
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3) European regulation: Trading Point of Financial Instruments Limited, with address at 12, Richard & Verengaria Str, Araouzos Castle Court – 3rd Floor, CY-3042, Limassol, is a financial services company registered as a Cypriot Investment Firm (CIF) under number 251334. Trading Point of Financial Instruments Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 120/10. The CySEC licence allows Trading Point of Financial Instruments Limited to offer online financial services in Europe according to the guidelines set out on the MiFID rules. XM European website is www.xm.com.
4) Australian regulation: Trading Point of Financial Instruments Pty Ltd, with ACN 164 367 113, and trading as XM, is licensed by the Australian Securities & Investments Commission (ASIC). Trading Point of Financial Instruments Pty Ltd, with a registered address at Level 13, 333, George Street, Sydney, NSW 2000, Australia, is regulated by the ASIC, with licence AFSL 443670, to offer financial services in Australia, limited to the financial services covered by its AFSL licence. XM Australia website is www.xm.com/au/.
5) UAE regulation: Trading Point MENA Limited, with a registered address at Unit S1302, Level 13, South Tower, Emirates Financial Towers, DIFC, PO Box 507013, Dubai, UAE, is licensed by the Dubai Financial Services Authority (Dubai DFSA). Trading Point MENA Limited is registered and supervised to arrange deals in investments, dealing in investments as principal and carrying on authorised financial services with, or for, retail clients.
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Client Money Protection
XM complies with the highest standards regarding client money protection. Therefore, the broker client’s funds are kept in top-tier international banks, such as Barclays Bank, in segregated accounts.
XM also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. XM holds the client’s money separately from the company funds and does not use these funds for any company operational expenses or purposes.
Deposit Compensation
The Trading Point of Financial Instruments UK Limited entity is a member of the UK’s Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for retail customers of authorised UK financial services firms. In the unlikely event that Trading Point of Financial Instruments UK Limited is unable to pay claims against it, or if the firm has stopped trading, or has declared default, retail clients might be entitled to compensation to the value of up to £85,000 per claim.
Trading Point of Financial Instruments Limited is a member of the Cyprus CySEC Investor Compensation Fund (ICF). The ICF is an investor compensation fund for retail clients of CIF registered financial firms, and its functions are regulated by the directive DI87-07 of the CySEC. If Trading Point of Financial Instruments Limited is unable to meet its obligations, retail clients might be entitled to compensation to the value of up to €20,000 per claim, irrespective of the number of accounts held, currency and place of the offering of the investment service (within Europe).
Negative Balance Protection
For retail accounts opened via any of the XM Group entities, there is a default Negative Balance Protection in place, to protect clients from any losses bigger than their original deposits. With the NBP mechanism, the XM Group retail customers are protected from any losses bigger than their original investments, in cases of extreme market volatility.
XM (XM.COM) Cashback Rebates
Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
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Notes
Account availability depends on the client’s country of residency.
Rebate clients are not eligible to receive bonuses.
Rebates are not paid for:
- Accounts registered with: ASIC, CySEC, Dubai DFSA entities
- Residents of Australia, Belgium, Argentina, Portugal or Spain
- Existing EEA/UK XM clients not currently under Clear Markets.
Rebates are not paid on: 1) trades held less than 5 minutes; 2) the percentage of a trade using bonus money as margin.
Non-USD rebates are converted to USD.
Non-forex instruments: https://www.xm.com/equity-indices?gid=320
What Are XM (XM.COM) Rebates?
XM (XM.COM) rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How Do XM (XM.COM) Rebates Work?
When you link a new or existing forex trading account to Cashback Forex (CBFX) the broker pays them part of their spread or commission profit for every trade you make as compensation for referring a customer. CBFX then share the majority of the revenue with you, paying you a cash rebate for each trade you make as thank you for signing up.
Your spreads will never increase as a result of using this service! The only difference is: as a CBFX client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, CBFX are the original and leading provider of forex rebates. CBFX pay rebates to over 100,000 accounts and traders love a helpful 24 hour live chat, telephone and email support.
Are XM (XM.COM) Rebates A Scam; Do My Spreads Increase?
XM (XM.COM) rebates paid by legitimate rebate providers are not a scam, however scams do exist. The most common scam is a rebate provider that marks up the spread or commission in order to pay a higher rebate than competitors. Many brokers do allow a referring party, or rebate provider, to markup costs to traders they refer. Obviously this defeats the purpose of the service provided by the rebate provider and thus jeopardizes the viability of the rebate provider’s reputation and business, so a reliable provider wouldn’t consider this. Besides this, certain rebate providers may not pay on time, or not at all. This is why it’s important to choose a reliable provider.
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
Are There Any Other Benefits To Signing Up For XM (XM.COM) Rebates?
It depends on the rebate provider. Due to CBFX’s unique relationship with many brokers, they have often mediated between brokers and clients in order to help successfully resolve client issues, including clients who are having withdrawal issues. Brokers are often very fast to respond, since they typically have many clients. Their knowledgeable support team is available 24 hours per day in 8 native languages & 23 total languages for any questions. They also offer trading tools, calculators, reviews and a robust forex education section.
How Are Forex Rebates Paid?
Because CBFX deals with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what they offer:
Forex rebate options vary per broker:
| Monthly cash back | Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in. |
| Spread or commission reduction | The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers. |
| Paid direct to brokerage account | Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers. |
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
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XM (XM.COM) Profile
Established in 2009, Trading Point of Financial Instruments, through its XM brand, is a fast-expanding broker and with over 5,000,000 clients from more than 190 countries – according to their corporate website – the Group has managed to capture the attention of several traders.
The broker strives to offer a great trading experience with a good range of trading instruments at low market spreads – from 0.0 pip for the EUR/USD, USD/JPY and GBP/USD on the XM Zero account – and no-requotes. XM is also known within the trading community for its great promotions and the no-deposit bonus – currently available only for customers registering a live account with the Belize FSC regulated entity.
XM’s multi-language customer support service is well-trained and very efficient. The service is available 24 hours, 5 days a week, in 25 languages. XM customer services can be contacted via local phone numbers (subject to jurisdictions), contact form, email and through the live chat widget present on the broker’s website.
XM is also a very popular CFDs broker with traders for the good execution speeds on both available trading platforms. Trading with XM can be done via the Metatrader 4 and Metatrader 5, with both platforms available for Windows, macOS, iOS and Android. It is also possible to trade with XM, instantly, via the Web Trader, a browser-based platform that requires no installation whatsoever, and that replicates the same UI of the MetaTrader platforms.
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XM (XM.COM) Asset Classes
As said before, one of the strongest points of this CFDs broker. XM offers an excellent range of 1,000+ assets available for trading, including forex, indices, stocks CFDs, shares and commodities – both energies and metals.
FX market: 55 currency pairs, including all major pairs, some minor and exotic crosses.
Indices: 18 world indices CFDs, including the UK 100, US 500, and NIKKEI 225.
Stocks: 1,000+ stocks CFDs for trading, from most European exchanges (from Portugal to Norway), Russia, USA, Canada and Brazil, of top companies and banks such as Barclays Plc, EasyJet, Tesla, Bank of America, Deutsche Bank and BMW.
Shares: 100 shares from USA, UK and Germany exchanges, of worldwide top companies, fintech and banks, such as Apple, Google, BNP, Facebook, Tesla, and BMW. Shares trading is available through the MT5 Shares account, on a cash basis and not on a margin basis. Investors need to have an account with 100% of the transaction value to buy an asset, which translates into no leverage. The XM MT5 Shares account also pays dividends on shares owned.
Commodities: 15 commodities CFDs available for trading; 3 metals – Gold, Copper and Silver versus the USD, 5 energies – including UK Oil and US Oil, and 7 softs, including Coffee, Cotton and Sugar.
Cryptocurrencies: Currently, XM does not offer or support the trading of cryptocurrencies CFDs.
XM (XM.COM) Account Types
The XM brokerage offers a range of trading accounts to indulge all types of investors – from Micro accounts to Zero accounts – with different executions and pricing. The entry-level account is the XM Micro account, offered by the XM Global Limited entity, and also by Cyprus and Australia’s regulated entities.
1) The XM Micro account is best suited for novice investors looking to test their trading strategies on the currency markets, and using a small investment, as 1 lot on the Micro account is only 1,000 currency units (compared to the 100,000 currency units of a standard lot).
2) The XM Standard account is available with all of the Group entities and is recommended for the investors looking to trade only with the bid and ask prices, without any added commissions.
3) The XM Ultra Low account – also, the only trading account offered by the UK’s FCA regulated entity – is a more aggressively priced account, especially when trading forex pairs, with tighter spreads, from as low as 0.6 pip and also commission-free. The Ultra Low account is not available with the Cyprus CySEC regulated entity.
Highly Recommended XM Trading Accounts
4) The XM Zero account is the broker’s most competitively priced account, recommended for professional investors, with low starting spreads of 0.0 pip on major FX pairs and an industry average trading commission of 3.5 USD per side per 1 lot traded. The Zero account is only available with the CySEC and ASIC regulated entities.
5) The XM Shares account is the broker’s account for stocks (shares) trading. Investors can hold a portion of global companies and banks and receive dividends on their trading accounts proportional to the size of their investment. The Shares account is offered by XM with no leverage, and trading can be done via the MT5 platform. The Shares account is only available with the Belize FSC regulated entity.
Please note that the XM Ultra Low and XM Zero accounts are not available to all entities of the Group.
XM also offers swap-free accounts for traders of Islamic belief, but, currently, the broker does not offer any viable options for money managers looking for PAMM accounts.
Regarding leveraged trading, XM maximum leverage ratio is 888:1 for retail clients opening a live account with the entity in Belize, and limited to 30:1 for retail traders opening a trading account with Australia’s ASIC, Cyprus CySEC and the UK’s FCA regulated entities.
Currently, XM trading accounts are available in several base currencies (subject to jurisdiction): USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD and ZAR.
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XM (XM.COM) Demo Account
With a XM (XM.COM) demo account traders can compare the broker to its peers, check out its product offering and trading conditions – which XM guarantees are almost like their live accounts. A demo account can also help novice traders with practising their trading skills in a safe environment, without risking losing real money.
To open a demo account traders will need to fill in a form with some basic information. Name and surname, a valid email address, country of residence and phone number. Please note that to open a demo account, traders do not need to upload any verification document(s) to XM (XM.COM).
On the same form, traders can select which trading platform they prefer for the demo account. MT4 gives access to all instruments, except stocks – or MT5, which includes stocks CFDs. Users can then select the account type (Standard or XM Ultra Low), the account currency, the leverage ratio, from 1:1 to 888:1, and then the account balance with the virtual funds.
The demo account is non-expiring and allows traders to test all the functions of the trading platform and the broker’s pricing on several financial instruments – forex, indices, stocks and commodities, without risking any real money. The demo account is 100% risk-free and the funds are virtual, including both winnings and losses, of course.
Register for free and test your trading strategies, open a demo trading account with no risk and no obligation now.
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XM (XM.COM) Pricing
Spreads And Trading Commissions
XM’s pricing and trading costs are not the most competitive in this industry when compared with other players. The starting spread for the most popular cross, the EUR/USD pair, on the Micro and Standard accounts, is 1.6 pip, commission-free.
Things improve massively with the Ultra Low accounts, and even more with the ECN type Zero account. XM proposes the Ultra Low account with a starting spread of 0.6 pip, commission-free, for major FX pairs and competitively prices its Zero account with a starting spread of 0.0 pip on major crosses, like the EUR/USD, GBP/USD and USD/JPY, with a trading commission of $7 per round lot traded (100,000 base currency units).
For investors looking for an alternative broker for stocks (shares) trading, XM proposes its Shares account. With a trading commission per transaction of just 4 USD (minimum 1 USD) for USA stocks. Please be advised that this account type requires a minimum deposit of $10,000. And will allow investors to trade only on shares.
We consider the Zero account’s trading commissions to be in line when compared with other top brokers – who charge on average between 6-7 USD per round lot.
Rollover Rates
XM swap rates, e.g. for the EUR/USD, stand at -5.40 for holding overnight a long position of 1 lot and at -1.10 for holding overnight a short position of 1 lot. We consider XM’s rollover rates to be worse when compared with the swap rates offered by other top brokers.
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XM (XM.COM) Deposits / Withdrawals
Deposit fees: Trading accounts can be opened in 11 different currencies and maintained via several funding methods. Including the traditional methods, cards and bank wires, XM also accepts deposits with the most popular e-payment solutions (subject to jurisdiction), such as Neteller, China UnionPay and Skrill.
XM does not charge any deposit fees, and deposited funds are available almost instantly.
Minimum deposit: Opening a live trading account with XM is fairly easy and it can all be done on the broker’s website, in 4 easy steps; fill in the registration form, confirm your identity, create a trading account and do the first deposit, download and install a trading platform. The minimum deposit requirement for the Micro, Standard, Ultra Low and Zero accounts is only 5 USD or equivalent. The XM Shares account requires an initial minimum deposit of 10,000 USD or equivalent.
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Withdrawal fees: XM also waives the withdrawals fees (withdrawal processing times vary from instant to 1 business day). XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Moneybookers and all major credit cards – including Visa, Visa Electron, MasterCard, Maestro and China UnionPay. Additionally, all deposits and withdrawals above 200 USD, and processed by wire transfer, are also included in XM’s zero fees policy.
Inactivity fee: XM reserves the right to charge a dormant account fee to trading accounts deemed dormant. Accounts during which there was no trading/withdrawal/deposit/internal transfer/additional trading activity from the past 90 calendar days, are deemed dormant.
All remaining bonuses, promotional credits and XMPs credits will be automatically removed from dormant accounts. XM will charge dormant accounts with a monthly inactivity fee of 5 USD, or the full amount of free balance if the free balance is less than 5 USD. No inactivity charge is imposed in the trading account if the available balance is zero.
XM (XM.COM) Popularity
The XM broker enjoys great popularity within the trading community. By being a highly regulated CFDs broker, and by offering attractive bonuses and promotions, XM seems to have the perfect recipe and combination of ingredients to capture traders’ attention.
The broker is also a very popular choice for its great order execution. With zero re-quotes and zero rejection. XM advertises itself as a broker deploying a strictly no re-quotes policy. And guarantees no Virtual Dealer plug-in on its trading platforms.
With 99.35% of all orders executed in less than 1 sec, 100% execution rate. No rejection of orders. Only real-time market execution. Customers can not only place orders online but also via the phone.
Popular trading account: The Zero account is the popular choice with traders looking to save on XM’s trading costs, with low starting spreads and a lower commission of just $7 per round lot traded.
Trading Education
XM is notorious for its education materials offering and deserves some popularity points for its superb range of trading materials and tools, available through the “Research & Education” tab on its website. Users can find some quality trading tools, like forex calculators, proprietary indicators for MT4, economic calendar, trade ideas and so much more.
Regarding trading education, users can enrol in free webinars and seminars, keep up with the markets by listening to market analysis podcasts, read curated articles and with XM TV.
XM (XM.COM) Promotions
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XM (XM.COM) FAQs
Is XM an ECN broker?
No, XM is not an ECN broker, in fact, the company clearly states on its terms & conditions of business, point 73, that XM Global Ltd may act as a Market Maker. It can be read that the broker “may take the risk of holding a certain number of Supported Securities to facilitate trading in these Securities by displaying/quoting bid and ask prices for such Supported Securities from our Online Trading Facility”.
Furthermore, XM Global Ltd clarifies its business model and the order filling procedure typical of a Market Maker broker: “filling Orders received in respect to such Supported Financial Instruments are from our own inventory…”.
So, no, XM is not an ECN broker. But what exactly does that mean to traders? Is it worse to trade with a Market Maker broker? Not quite, there are some pros and cons, like everything else. Please check out the table below with the pros and cons:
And that’s not all, some examples of the bigger Market Makers in the financial industry include the Deutsche Bank, Morgan Stanley, BNP Paribas and UBS. Wouldn’t you trade with any of them because they are Market Makers?
A Market Maker posts bids and offers to ensure market liquidity is available. And they are always ready to trade with you. In simple terms, if you want to buy a security, they will sell it to you. And if you want to sell a security, they will buy it from you.
Which is the best XM account?
The best XM account is the Zero account*, because of its competitive trading costs. And range of financial instruments available for trading
Please note that the XM Zero account is only available for traders registering, and opening a live account with the entities in Europe and Australia.
XM offers several types of trading accounts, tailored to suit every trading style and strategy. But in the end, it all comes to one simple factor, pricing. Everyone likes to trade with the cheapest pricing possible, avoiding extra costs that eat up the profits.
If we compare XM accounts offering (subject to jurisdiction) the two main contenders for serious traders will be the Ultra Low account (traders only pay the spread without trading commissions), and the Zero account, priced with a spread plus a trading commission.
More facts about XM trading accounts
The XM Ultra Low account has a starting spread of 0.6 pip for the EUR/USD, and no trading commissions.
The XM Zero account has a starting spread of 0.0 pip, but following an ECN trading environment model. The broker adds a trading commission of 7 USD per traded lot. With the simple calculation of dividing the trading commission by the EUR/USD pip value, we can convert the trading commission into pips, and this will give us a total cost of 0.7 pip.
First impressions, the Zero account seems slightly more expensive, when compared to the Ultra Low, by 0.1 pip. But on XM’s website contract specs page, for the Ultra Low account, the broker states an average of 0.8 pip for the EUR/USD. And for the Zero account, the brokers declare an average spread of 0.1 pip for the same pair.
So, which account is cheaper for Joe’s trade of 1 lot of EUR/USD long position? If the Ultra Low account has an average EUR/USD spread of 0.8 pip… And the Zero account an average spread of 0.1 pip, with a converted commission of 0.7 pip… There’s virtually no pricing difference – they are priced equally.
Still, as a rule of thumb, tighter spreads are always preferable to trade with. Especially in volatile market like currencies trading where pending orders might not get filled!
Plus, traders registering a live XM Zero account can apply for free VPS (subject to terms & conditions). And also benefit from XM’s policy of zero fees on deposits and withdrawals.
Where can I download the XM Global MT4 platform?
XM Global offers trading via the MT4 platform, available for Windows PCs, macOS computers, Android and iOS tablets and smartphones. The XM Global MT4 runs on PCs with Microsoft Windows 7 SP1 or higher. It requires an Intel Celeron-based processor. With a frequency of 1.7 GHz or higher. 256 MB of RAM or more. And 50 MB of free drive space.
XM Global MT4 has many features, works with Expert Advisors, and comes packed with over 50 indicators and charting tools built-in for technical analysis. The MT4 platform also allows for 1 Click Trading. It handles a vast number of orders, guarantees full data back-up and security and supports the internal mailing system.
On the XM Global MT4 platform investors can trade all the instruments including forex, stock indices, metals and energies. Please note, individual stocks are only available on the XM Global MT5 platform.
How to install the trading platform?
To install the XM Global MT4 for Windows PC, download the terminal from here and run the .exe file after it has been downloaded. When launching the XM Global MT4 for the first time, the login window will appear. Simply enter your real, or demo, account login data to enable the trading.
To install the XM Global MT4 for macOS computers, download the terminal from here. Open the MetaTrader4.dmg and follow the instructions on how to install it. Go to the Applications folder and open the MetaTrader4 app. Right-click on “Accounts”, select “Open an Account”, then click on the + sign to add a new broker. Type “XMGlobal” and then press Enter. Select the MT4 server your account is registered on and click Next. Select “Existing trade account” and enter your login and password, and that’s it – click Finish.
How can I find the server’s name on MT4 (PC/Mac)?
On the MT4 terminal click the “File” tab on the top left corner. Then click the “Open an account” option, which opens a new window, “Trading servers”. Scroll down and click the + sign at “Add new broker”, then type ‘XM’ and click “Scan”.
Once the scanning has been done, close this window by clicking “Cancel”.
Following this, please try to log in again by clicking “File”. Then select “Login to Trading Account” to see if the trading server name is there.
What is XM minimum deposit?
XM minimum initial deposit for the Micro, Standard, Ultra Low and Zero accounts is $5 (five US Dollars). The minimum initial deposit for the Shares account is $10,000 (ten thousand US Dollars). Please note that if the deposit currency is not US Dollars, then the indicative deposit amount should be converted to the deposit currencies.
Please note that the Ultra Low and Zero accounts are not available to all entities of the Group.
The broker accepts deposits by multiple credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer, and other e-payment methods in USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD and ZAR (subject to contracted entity and account type) and deposit fees are covered by the brokerage.
This also applies to all credit/debit card deposits. For deposits via international bank wire transfer, the broker covers all transfer fees imposed by its banks. Except for deposits amounting to less than 200 USD (or equivalent denomination).
All deposits are instant, except for the bank wire transfer. Please consider that to protect all parties against fraud and in compliance with the applicable laws and regulations for the prevention and suppression of money laundering, XM policy is to return the client’s funds to the origin of these funds, and as such, the withdrawal will be returned the source of the funds’ deposit.
How to claim the XM 30 bonus?
Some entities of the group offer a no-deposit, $30 trading bonus*. This promotion does not apply to traders opening live accounts in Europe, including the UK, and Australia. The reason is that on the last product intervention by the ESMA and the ASIC, it was established that brokers regulated in Europe and Australia are forbidden to offer promotions and bonuses to traders.
* Equivalent to: 25 EUR, 20 GBP, 25 CHF, 3000 JPY, 30 AUD, 1000 RUB, 100 PLN, 7000 HUF, 40 SGD, 347 ZAR.
Traders opening a live account with XM Global Limited (Belize) are eligible for a non-deposit $30 bonus.
Even without making a deposit new clients will receive an $30 trading bonus on their newly registered live accounts. They will have the opportunity to trade some markets with free trading funds. The profits earned with the $30 trading bonus will be yours to keep. However, any withdrawal of funds will result in the proportional removal of the trading bonus.
The XM non-deposit $30 bonus is available to everyone opening a Real Account for the first time. There is a 30-day limit from the date of opening the Real Account. Traders must claim the bonus before it is rendered unavailable.
To claim the XM non-deposit $30 Bonus, you need to follow a few simple steps:
- Open a Real Account
- Log in to the Members Area, using the credentials sent to you by email
- Provide the relevant identification documents to validate your account (if you have not already done so)
- Click the button “Claim your Bonus”
- Complete the voice verification process by following the on-screen instructions
For more info regarding this promotion, or to claim your no-deposit $30 trading bonus, please visit the XM 30 bonus page.
XM (XM.COM) Real Customer Rating
Based on user reviews from XM’s verified customers, with a live trading account, this broker is recommended for its fast execution speeds and the competitiveness of the Ultra Low account with lower spreads and no trading commissions.
Traders enjoy the very fast and efficient deposit and withdrawal process. And, of course, for XM’s policy of no fees on deposits and withdrawals. Finally, some traders praised the broker for its offering of Micro accounts. A plus allowing for beginners to have a foothold on the currencies market trading, with a very small initial capital.
Negatively, a few traders reported on slippage and spread widening, with a special note for the high spreads between the NY session close and the Asia session opening.
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XM (XM.COM) Review – Final Considerations
We conclude our XM review with the final considerations regarding this CFD broker. This broker stands out for its great range of trading education materials, the competitive pricing of its Zero account. There are starting spreads of 0.0 pip and an average trading commission of 7 USD per round lot. And very fast order execution speeds.
Also positively, this brokerage offers retail investors the possibility to trade with two highly-regulated entities. Two in Europe (XM.com in Cyprus and Trading.com in the UK), and one in Australia. These are also the entities that we recommend to traders. Retail client money safety and retail client protection is of utmost importance.
With an XM account, traders can hedge, scalp, swing or position trade, with no restrictions. There are 2 reliable trading platforms available for every imaginable electronic device with an internet connection.
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Overall, the broker’s solid reputation, the safety of retail client’s funds, together with attractive promotions and a low initial deposit of 5 USD, or equivalent in other base currencies, position this CFD broker on the top 5 forex brokers for popularity with traders opening a trading account in 2023.
