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XM Forex Broker Review

Getting to know a certain broker by a decent and detailed review is the best way to make up your mind and decide whether it is suitable for you. There are many things you need to consider, but when you have all the necessary data in front of you, it becomes easy and quickly. What we can promise you is to provide you all the latest information about the broker we analyze. Today, we do the same thing with XM broker. Check out our authentic XM review now and see whether it can be your next Forex platform to discover now!

XM Overview and Preliminary Information

We always begin our Forex broker reviews with some preliminary information and overview as to the company and history. XM, itself is a Forex broker that is owned by Trading Point of Financial Instruments Company. As most of today`s popular brokers, this one is based in Cyprus, too. The local official regulator – CYSEC – is the provider of an official license for the trading platform and meanwhile, alongside with European Union, it secures the transparency and money laundry prevention programs. Thus, XM hides no risk to personal data and money customers provide in the system. XM was established back in 2009 and up to now it has achieved good fame and an audience with more than 100 thousands of clients.

XM Customer Support Services Information

Safety and faultless trading activity at XM are also backed up by the good customer support services that are processed at the website. The Forex broker offers 24/5 customer support and any of you can ask for some help or a question any time you feel need of assistance or additional information. Contact XM customer support representatives via e-mail, live chat or phone call. The support services are available at multiple languages – Arabic, Bulgarian, Chinese, Czech, Dutch, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Romanian, Russian, Slovakian and Spanish.

XM Account Information to Know in Advance

Opening an account at XM is easy. First of all, complete your registration. Then, you will be asked what type of currency you want to manage your account. These are your options at XM page: AUD, JPY, GBP, CHF, PLN, HUF, USD, ZAR, EUR, SGD and RUB. Proceed with the selection of payment method – aka the ways you will make deposits and get your claimed withdrawals after getting profits. Here are all the available payment methods at XM broker: credit cards (VISA, VISA Electron, MasterCard, Switch, Solo) bank wire, Neteller, Moneybookers Skrill, Western Union, MoneyGram, WebMoney, China UnionPay, SOFORT, iDEAL. When you select the payment method, think over the way you will trade on this page or simply choose one of these three options for an account type:

Trading Features at XM Broker

XM broker is a typical market maker. It has average spreads – between 1.6 and 2.6 and there are no commissions or fees for the trades that customers make. The maximum leverage on the website is about 888:1 and the maximum trade you can make is $ 1000. If you want to, you can take the benefits of various trading approaches at XM system like hedging, scalping and using auto signals. Assets are various – many stocks and foreign currency pairs, as well as the standard indices and commodities.

XM Trading Platforms

One of the best things at XM broker is that it is powered by many trading platforms. The customer can select from the web-based platform of WebTrader and the popular software MetaTrader 4 that should be at first downloaded and then, installed on your persona desktop device. Speaking of which, you are also welcomed to use the mobile version of XM website, if you like trading on the go. Use your tablet or smartphone to download and install the amazing XM apps – for iOS or for Android-based mobile device.

ScreenshotsXM homepageOpen a new account at XM

XM Bonus System

And finally, we have reached the best part of our review – XM bonus system you can enjoy on the broker`s website. See now the currently available special promotions on XM trading platform:

XM is a reliable broker with amazing bonus system and what is more important – really good trading facilities suitable for beginners and more advanced traders. Try it as soon as possible and tell us what you think about it!
Get $30 No deposit bonus from XM!

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8 comments on “XM Forex Broker Review”

  1. William says:
    Country & city: Brasil
    Rating: .
    I've spend around 2 hours in live chat trying to understand why my stop loss on a short was triggered I entered a trade at Eur/Usd 1.12558 hours later put a stop at 1.12548 price reached 1.12509 and closed my position. they said my trade closed because price reached ASK price, the spread is 1.7 pips not pips. This happened to me so many times and never happened using other brokers. I will just move and never use XM again, be careful people.
    • Desimir-XM.COM Official Representative says:
      Dear William, Please note that since you are referring on a Sell position. All Sell Positions open on Bid Price and close on Ask Price Since on your MT4, you can only see the Default Chart of the Bid Price, you have to enable the Ask Line, so you can see the fluctuating price at which Sell Positions close. In order to enable the ASK line please right click on the chart and select Properties -> Common -> Show Ask line. We would like to reassure you that we fill all our clients’ orders at the best available market price at all times. We also do our best to provide you with the lowest possible spreads combined with the best trade execution speed. Should you have any further questions, please do not hesitate to contact your account manager or our live chat. Wishing you a great day and happy, and successful trading! Kind Regards,
  2. Jaspal Singh says:
    Country & city: India
    I am trading EURUSD pair on Demo Account, it is not allowing me to place StopLoss, TakeProfit, Buy Limit Order or stop limit order within 40 pips. I mean if I have to place stoploss it should me minimum 40 pips. I could not understand why so. where as i am working with other brokers there you can place stop loss Spread + even 1pip can you please explain why so in your case and not in other brokers case. thanks.
    • FX-SWAT says:
      Country & city: Greece
      Rating: .....
      Hello Jaspal, Ill take the initiative to answer your question if you do not mind and i hope i do not offend anyone by doing so, the terms that you always here "85% of traders lose" is because usually they do not look over their risk management, In XM condition the broker do that for the client they have a Risk management department that look for the protection of the client, and if you ask any professional trader on where his stop loss should be he will tell you 100 pips away from his position, So do not think badly about the 40 pips brother because it is for your own benefit to have the stop loss away to help you stay in the market then to have it 5 pips away and get most of your stop losses triggered all the time. Just keep in mind that most of successful traders will only trade 1 position at a time and have a long stop loss of a 100 pip so 40 to 50 pips restriction from any broker is fair and give you a point of reliability to trust them more. take care brother and best of luck in your trading!
  3. Carrie Rabusin says:
    Country & city: USA, New York
    Rating: ...
    I've heard some good things about XM Forex, but also a few accusations of scamming, so basically I'm on the lookout here for more info. There are a lot of positive reviews, but one negative aspect I've heard about is that they don't let you use any form of AI for trading. Which I would be fine with, but apparently XM is allowed to DECIDE if you've used AI in a trade, and they have what they call "sole discretion" with this decision. So if they think you've used AI, they can completely cancel the trade (even if you didn't use an AI). Like I said, this makes me a little wary, since hypothetically it means they could cancel any trade at any time. On the other hand, I have read lots of good reviews about them. Basically, if anyone has any more concrete info about XM, it would be much appreciated!
    • Adam Darwin says:
      Country & city: US, Virginia Beach
      Rating: ..
      Carrie, I heard pretty much the same thing about the unlateral AI "decision-making," and it has scared me off from continuing to use XM, although I never experienced an issue with it while using the broker. But there are a lot of brokers out there, and I'm just not willing to take a risk with XM like that. But yeah, like the previous comment said, if anyone has any solid evidence as to whether this rumor is true or not, that'd be really helpful.
  4. Dipen says:
    Country & city: malaysia
    Rating: .....
    hello sir, I live in Malaysia. But i want to do Forex trading. But someone says, in Malaysia Forex is not legal. Is Forex legal in Malaysia ? If it's illegal, why it's illegal. I am from Bangladesh. i already have a account in xm. i already used xm broker in Bangladesh. So can i use my Bangladeshi account in Malaysia? If is legal then please inform me as soon as possible.
    • PuTeRaJeJaKa says:
      Rating: .....
      You can read it at below link... https://topratedforexbrokers.com/malaysia/