Full and Detailed XM.com Forex Review
XM is the first choice for clients in 196 countries who actively trade CFDs on forex, precious metals, stock indices, and energies by virtue of the company’s outstanding trading environment offered to clients, a solid regulatory environment, professional dedicated customer support in over 20 languages and business transparency coupled with strong business ethics.
XM Group (XM) is a group of regulated online brokers. Trading Point of Financial Instruments Ltd was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670), and XM Global Limited was established in 2017 and is regulated by the International Financial Services Commission (IFSC/60/354/TS/19).
Types of Accounts
You can choose between a demo account and the regular account. On the demo account, you will have a virtual balance of $100,000 to trade with real information. However, all your earnings (and losses) will not be for real. With the actual account, you get $30 non deposit trading bonus to start with. There is no initial deposit required, but to unlock some other benefits, you have to make a deposit.
Once you start depositing money, you can get a second reward of up to $5,000. There is also the unlimited loyalty program that gives you XM points which you can later change for cash or other XM trading rewards.
Once you start depositing money, you can get from XM Group also the following bonus schemes:
- There is a two-tier deposit bonus which offers you 50% deposit bonus up to $500 and 20% deposit bonus up to $5,000;
- Their Loyalty Program offers you XM Points (XMP) per lot traded. These XMP can be redeemed at any time for credit bonus which you can use for trading purposes only.
*Trading bonus and Loyalty Program are not eligible for clients registered under Trading Point of Financial Instruments Ltd.
You don’t have to install additional software to your computer. You can access everything from the platform via the XM website. Unlike other platforms, the XM main screen includes the news feed that can affect your trading. That way you can keep pace with what is happening in the world.
You may trade other things besides Forex. There are CFDs on commodities, equity indices, precious metals and energies. You chose what you wish to trade on your same account.
You will have the visibility of your open, pending and closed positions. That way you will control your dashboard better. The graphs will help you to analyse the current trends.
You can find the website full of training information. The learning centre is focused on Forex. Besides the video tutorials, you can attend Forex webinars and seminars. There are Forex related news and Forex signals to help you further. You can also access the Forex calculators from the training site.
For added benefits, you can make use of the XM MT4 and MT5 software. It is compatible with PC, Mac, multiterminal, WebTrader, iPad, iPhone and Android. It has some interesting automated tools to trade Forex like a Pro.
Our XM Forex Gallery
XM Demo Account
Deposits and Withdrawal Services
There are many ways to deposit or withdraw funds. You may use a credit card, electronic payments, wire transfers, and some others. For security reasons, the only restriction is that to fund your account, the account you are depositing with has to be under your name.
To withdraw, you have the same options than to deposit. You will not be a candidate for withdraws unless you’ve completed the validation process on your account. To do so, you need to upload your proof of address and identity. To complete the withdraw process, you’ll have to wait 24 hours.
You can ask for help in your language. Besides English, XM supports other 20 languages, in 196 different countries. You can find help 24 hours from Monday to Friday, and there is a local phone number if you are calling from Cyprus, Australia or Greece.
Depending on the query, you may send an email to a different address. To reach the support desk, write to email@example.com. If you need to contact the accounting or affiliate department, HR, back office, dealing room, sales or PR inquiries, there is a different address for each.
Safety and Regulation
XM Group (XM) is a group of regulated online brokers. The Trading Point Holdings Ltd is regulated by the CySEC with the license number 120/10, by the Australian Securities and Investments Commission (ASIC 443670), and XM Global Limited is regulated by the International Financial Services Commission (IFSC/60/354/TS/19).
For those who are willing to invest in Forex making use of an automated tool, XM has what you are looking for. It has the necessary registries to operate under the law in a very easy way. You can have support in many foreign languages, and their help desk is open whenever a trading opportunity is available.