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XM.com Review

xmcom review

XM.com belongs to Trading Point.Holdings.Ltd. which is a financial services provider offering online trading on global financial services markets. The company is based in Cyprus. In addition, XM.com has branches in the Netherlands, Spain and in the United Kingdom, Finland and also in Germany.

  • Account (from) 5 €
  • Leverage (max) 888:1
  • Spread from 1 Pip
  • Regulated: yes
  • Demo account: yes

XM.com offers its clients direct access to global financial markets and an online environment with full trading functionality. Thus, more than 100 financial instruments are available to them on XM’s pages. The financial instruments include Forex, stock indices, precious metals as well as commodities. Thus, XM’s sites are suitable for a diverse and global clientele. The focus at XM is on trading with foreign exchange as well as CFDs. For this purpose, several trading platforms are available on the pages of XM.com. XM emphasizes transparent pricing in real time, lowest spreads and flexible leverage. In addition to fair trading conditions, XM.com also offers a wide range of training opportunities, especially for newcomers.

Different account models to choose from

Users of XM.com can choose from various account models.

  1. These include the Micro account with deposits starting at 5 euros, which is particularly suitable for newcomers,
  2. the Standard account also with deposits starting at 5 euros, which is suitable for experienced traders, and the Executive account with deposits starting at 100,000 euros.
  3. Even the Micro account offers a high leverage. This ranges up to 888:1. The standard account offers a volume size of up to 100,000 lots. This has a limit of 50 lots per ticket.
  4. The Executive account, on the other hand, allows trading with a particularly large volume.

General Information About XM

Customers can also benefit from XM.com’s customer service. This is available in a total of 196 countries in a total of 20 languages. During trading hours, the customer service can be used around the clock. For telephone customer service during trading hours, however, customers must use a telephone number for which a charge is made. However, German-language support is also available here. In addition, however, a live chat is also available or support via e-mail with an answer to questions within 24 hours. XM.com is a broker based in the EU and thus obliged to keep and manage the invested funds of its customers separately. Thus, a high level of seriousness is offered to the customers. In addition, the deposits of customers are protected according to the legal deposit protection in force in the European Union.

Trading Point Holdings Ltd, a regulated financial services provider headquartered in Cyprus (EU), operates under XM.com. The company offers online trading of financial instruments on international markets. As with other Forex brokers, the focus is on foreign exchange and CFDs. Customers in almost 200 countries around the world are charged. The platform is available in over 20 languages.

XM.COM, known to most traders and those who want to become traders under the old name XE-Markets, is a Forex and CFD broker founded in Cyprus. The CEO and founder of the broker is Costas Cleanthous, who made his first experiences in the financial market as an interbank dealer. XM.COM is part of the Trading Point Group, also based in Cyprus.

As a market maker, XM.COM offers its clients trading in over 100 financial instruments, such as Forex, CFD, precious metals and numerous commodities. However, as a market maker, XM.COM does not claim to take counter positions to the positions of its clients.

The broker was founded in 2009 in Limassol/Cyprus, at that time under the name XE-Markets. In 2010, financial instruments could be traded for the first time via the well-known Meta Trader 4 platform. A year later, the company’s own webtrader was introduced, which allowed customers to trade on the go. Since 2013, the broker has been offering its financial services under the name XM.COM. XM.COM is an internationally positioned broker especially in the Asian region it is very well known and popular. The Internet presence is available to customers in 19 different languages, including German. The customer service of XM.COM can be contacted 24 hours a day from Monday to Friday via live chat.

Bonus program

The broker XM.COM attracts with numerous and tempting bonus promotions. All new customers who open a real trading account at XM.COM for the first time receive a bonus of 30 euros without making a deposit. For the first deposit customers make on their real money account they receive a bonus of 50%, but up to a maximum of 500 euros. For each subsequent deposit traders receive a bonus of 20%, but up to a maximum of 5000 euros.

Mobile Trading

XM.com is, of course, also available on mobile and can be used on the iPhone, iPad and all other devices with Android. These platforms are also designed in such a way that all functions of Metatrader 4 can also be used here without restriction. The use of XM.com is probably possible with and without downloading a software. In order to familiarize oneself extensively with Forex trading and to test it risk-free, XM.com offers its customers an unlimited demo account. This is not only suitable for newcomers but also for experienced traders. Among other things, they can test new strategies with the help of the demo account.

Account types of XM.COM

XM.COM offers its clients a wide range of account models, providing its clients with a flexibility that few brokers do. Through account models, the broker appeals to all customers, regardless of their level of knowledge or account size. Another special feature is that no matter which account model the client chooses, the trading conditions always remain the same.

For beginners, XM.COM provides free and unlimited demo accounts. On these accounts, beginners can trade under real conditions with virtual money and thus gain initial experience without putting real money at risk. All financial instruments that are also available on a real money account can be traded on demo accounts. XM.COM is also one of the few Forex brokers that offer Islamic accounts. Islamic accounts are similar to other real money accounts, with the difference that there are no swap fees.

Micro accounts are suitable for low lot size positions and thus suitable for clients who have a low starting capital. Here customers can start trading with as little as 5 euros of strong capital. A deposit of 5 euros is also sufficient for the standard account, but the lot sizes are larger here. From an account with a minimum deposit of 100,000 euros, customers can open an executive account. Hedging is allowed on all account models. The leverage can be flexibly adjusted to the one account size and trading behavior. For Micro and Standard accounts, the client can choose from a leverage of 1:1 up to 1:888. For the Executive account, the maximum leverage is 1:100. For all account models, the spread for the financial instruments is as low as one pip.

Trading instruments

Currently, over 60 currency pairs can be traded at XM.COM. All common majors, crosses and exotics among the currency pairs are available for trading. In addition, the world’s most liquid actinindezes, precious metals and commodities can be traded. In total, well over 100 financial instruments can be traded. Thus, one’s own risk can be spread over many different instruments. Since XM.COM as a market maker does not have a dealing desk, traders do not have to expect requests. The broker promises to execute over 99% of all orders in less than a second. Trades can be made with the world’s most widely used platform Metatrader 4, as well as the Webtrader. In addition, XM.COM provides apps for mobile trading via Android smartphones and IPhone.

XM.Com offers its clients free weekly webinars that help traders to broaden and deepen their knowledge. The webinars are free of charge and without obligation for all customers, including those with demo accounts. To participate, interested parties only need to register before the start of the webinar. The webinars are usually held in the evening to give traders who have another main job the opportunity to participate.

With the tradable assets, the broker is not as equipped as some other brokers. Here 40 assets are offered, of which, for example, the commodities are an option or the indices that deal with the Dow Jones or the Nasdaq100 but also with the DAX, Nifty, CAC, and Nikkei. In the commodities gold is offered and silver as well as oil. But also with sugar, corn and coffee every trader can make his luck. With Platinum the raw materials are likewise to be traded. With the shares such as BMW, Amazon, Samsung Electronics, Deutsche Lufthansa and many more. Here, the traders have a lot of opportunities that can be used and that can bring a 360% return with the right stakes-. Whatever you decide to do with this broker you always have the security of getting a 10% return.

Customer service

With the customer service every trader can be satisfied, because this is not only German-speaking but also in 24/7 use. The traders are offered the e-mail traffic and also the telephone service. This service is available in 16 different languages and the hotline can be reached in 20 countries. For Germany, even the 0800 number is offered, which is free of charge for the customers. The hotline and also the live chat are available without interruption. However, there may be a small wait until the employees have a free line. With an education center, you can get detailed information about everything and with an e-book as well as a video library that is equipped with all the turtorials, you can get smart in advance. A service that not every broker offers.

The trading account of XM.com is available in different variants. Beginners are particularly attracted to the “micro account”, which can be managed with an initial deposit of only 5 euros. This account is equipped with a comparatively very high leverage (up to 888:1) and the spreads are quite low with only 1 pipe for majors. However, experienced traders will prefer the “standard account”. This also only requires a minimum deposit of 5 euros. And those who aim for particularly large trading volumes are best to opt directly for the “Executive Account”, which can only be opened from a deposit of 100,000 euros. In addition, as with many other forex brokers, a demo account can be used first. This can be used for an unlimited period of time and thus allows newcomers to familiarize themselves with the world of Forex trading. The standard size of a lot depends on the account type. For the Micro account it is 1,000 units and for the other models it is 100,000 units.

Of course, opening an account is free of charge and very easy. In addition, XM.com convinces with a constant promotional program. This includes both the bonus for new customers and the XM loyalty program. The new customer bonus can be up to 5,000 euros depending on the deposit amount. As special in the area of Forex brokers, a bonus in the amount of 30 US dollars is to be mentioned, which is credited for the pure account opening, even if the minimum deposit is not made. This bonus can thus be used to first familiarize yourself with the platform before investing your own money.

Access to the trading platform

At XM.com, trading is done via the MetaTrader 4 forex software as standard, with mobile access via iPhone or Android also supported by the XM Mobile Trader. The functions of MetaTrader 4 can be used almost unchanged. In addition, XM WebTrader 4 allows web access to the trading platform. This eliminates the need for complex installations on different end devices.

Regulation and security

Like many other Forex brokers, XM.com is regulated within the EU by CySEC, the state financial regulator of Cyprus, and other national authorities. XM.com also has a branch in Germany and is thus registered with BaFin. The usual deposit protection of up to 20,000 euros per customer for funds in the trading account applies.

Advantages & Disadvantages

Advantages

Very Low Minimum Deposit: The minimum deposit of only 5 euros is almost unbeatable in the field of Forex brokers. Fee-free and low spreads: Trading is free of fees at XM.com. Only the spreads are charged and these are comparatively low. High leverage: A maximum leverage of 888:1 is possible under certain conditions. Otherwise, the leverage is 200:1. High bonus possible: XM.com attracts with a bonus of up to 5,000 euros, which is not tied to any hidden conditions. Wide range of trading products: More than 100 different financial instruments can be traded at XM.com, including 53 different currency pairs, stock indices, precious metals and commodities. Versatile access to Forex trading: Via MetaTrader 4, the XM Mobile Trader as well as the XM WebTrader 4, investors at XM.com can access the trading platform in a variety of ways. Demo account and comprehensive information material: XM.com provides a free, unlimited demo account and various information materials. A dedicated channel on YouTube also provides users with regular information. Comprehensive customer service: A multilingual customer service is available to investors at XM.com by phone as well as via live chat.

Disadvantages

As disadvantages one could call on the one hand the accessibility of the customer service. Unfortunately, the employees are only available by phone 5 days a week. On the other hand, the company has an unusually unclear structure. And also the appearance of XM.com as a market maker seems daunting at first. However, the company has come up with a smart solution for its customers, which is again convincing.

XM.com Conclusion

In addition to the legal requirements, XM.com offers its customers no fees for either deposits or withdrawals. For example, transaction fees are covered 100% for all online payment services, 100% for all major credit cards, all transfers over 200 USD are covered, and the account is credited immediately. Moreover, XM.com does not offer any hidden conditions and commissions to its clients.