If you are one of the people who feed on the internet like me, you probably have come across many Forex Trading platforms including the XM broker.
Despite the positive news about how lucrative the industry is, there are still unanswered concerns, especially with trust, safety, and security concerns. These concerns determine which platforms you should invest with and for such reasons we are looking at XM review today.
What is XM.Com?
XM.Com is a Forex and CFD broker that allows you to invest in more than 1000 different financial instruments such as precious metals, energy, stock indices, currencies, and many others.
XM Group is regulated by Cyprus securities and exchange commission but as of 2017, it is regulated by the international financial commission. It is a dependable site for online brokers.
Going into detail, XM broker is also monitored in Europe by the Australian ASIC, the Cyprus Securities and Exchange Commission, and the IFCS of Belize. It is registered with other supervisory bodies such as the Spanish CNMV and complies with European directives that require that the investor is protected.
Now it boasts over 1.5 million brokers with traders spreading across 196 countries. XM broker by the above-mentioned monitoring makes it a safe broker for forex and CFDs trading. It has extensive experience and offers support in more than 30 languages. This helps the broker appeal to those all over the world and of any skill levels.
Services of XM Broker
As noted earlier, XM is an online broker. In forex trading, they have records in trading and referred to as the website that allows clients to trade a range of os assets. XM Group offers the MT4, MT5, and Web Trader currency trading platforms. XM.com offers over 55 currency pairs and CFDs on cryptocurrencies, stocks metals, commodities, equity indices, and energies for your investment and trading options
The XM broker started its activity in 2009 and so far operating clients from over 196 countries with a support staff speaking in 30 languages and is among the most trusted regulated brokers.
Is XM broker scam or legit?
XM is an established broker known to be reliable and highly professional at what it does. It aims to make your trading experience unique through all its features, bonuses, and proportionate help to its users with their interactive, friendly helpful customer support, available 24 hours.
Trusting online is tough especially saving with a huge sum of money like in the forex industry. The XM broker is not a scam as per our investigation. It is a totally legitimate and safe broker in capital withdrawals, with 100% credibility of its services offered.
XM broker is a fully trusted entity with the absolute absence of scams and it’s certified in several licenses obtained as mentioned above. As for its web portal, it is quite illustrative and with very easy access to all its tools. Simply put, XM is a reliable and safe company, with great deals, so you can feel confident choosing this broker to trade.
Also Read: Is IQ Option a Scam? Read IQ Option Review
Available Withdrawals and Deposits On XM Broker
One of the needs of traders, when they are dealing with a broker, is the ability to comfortably deposit and withdraw. XM broker provides many payment methods to the traders that we will mention next.
First, using credit and debit cards (Visa, Visa Electron, Mastercard, Maestro) is the most common payment method for XM traders.
Then, electronic payment methods such as Neteller, Skrill, Union Pay, and Bitcoin are also allowed. And finally, We will not forget bank transfers that can be used for traders who have a bank account and prefer to use it as a payment method.
They have quite supportive payment options and their deposits and withdrawals are low or even free-of-charge for deposit or withdrawal high minimum withdrawal limitations.
Pros and Cons of XM Broker
- You will have to forget about paying additional fees when you go to process a withdrawal.
- The minimum deposit is only 5 USD, low enough, don’t you think?
- Unfortunately, this platform does not have the payment processor Paypal, either to deposit or withdraw your money.
- If you want to withdraw your money via bank transfer you will have to bear in mind that you will wait from 2 to 6 days for the deposit to be made.
How to withdraw from XM broker Account
The beginning stride is to go to the XM broker page, login and click on the user area at the top, then choose the option to “withdraw funds” you will see the available withdrawal methods like Credit and debit cards, virtual wallets, bank transfers, etc.
Proceed from there, have to choose the preferred withdrawal method, the amount and proceed to confirm the operation. Lastly, you have to request the operation and verify the withdrawal information.
Trading Fee on XM Broker
XM broker is very good for those who negotiate frequently. Usually, the rates in XM are not so high, they go according to the trader’s account.
FINANCING RATES: It has an average cost, indicated for those who like to negotiate with margin.
INACTIVITY RATE: You need to be active in relation to negotiations, if the balance reaches 0$ your account will be archived, if there is inactivity for 90 days it takes a charge of 5$.
Types of Accounts on XM Broker
Well, XM broker like any other broker has several accounts types namely,
- XM Ultra Low
- Shares Accounts
These accounts on XM broker offer exceptional trading conditions and unlimited access to Meta Trader4. The trading point on Financial instruments Depends on what each of the accounts offers to the traders. Each account permits up to 200 open Or Pending position per Customers.
Please use the review option below to let us know your expereience with XM