XM Forex Review: Is it a Safe Forex Broker or a Scam?

You have an option to approach the essential information with a practical and thorough review of any Forex broker. To find the best Forex broker for trading experience, such an act, and straining of all the existing foreign currency exchange platforms is an outstanding way for both – gamblers and novices. Since we are here for you to provide the best and most excellent aid into the Forex market. We have detail enriched reviews concerning the most accepted and renewable brokers. Also, if you want to find out the best forex brokers in the USA and Europe, we have the list prepared for you.

Now we present XM Forex review for you. So that you can find out if it fits your preferences and requirements for your Forex trading.

XM Forex Review: Overview

In 2009, the XM Forex broker was established as a part of a large company Trading Point of Financial Instruments Ltd. Currently, this group is made of interbank dealers. The holding of the broker, as well as the XM Forex, is Cyprus based, which you already know is a country member of Eurozone. It makes it easy for you to guess that XM platforms have reliable and strong guidelines. All of the Eurozone or EU countries are provided with authorised directive measures. These measures are for both trading websites as well as gambling. Along with CFDs, investors can access currency trading at XM plus, precious metals, equity indices, and energies.

XM forex review

XM Forex Review – Regulations and Reliability

Formerly, XM was known as XEMarkets. And it is a trading name of Trading Point Holdings Ltd headquartered in Cyprus. FSP in New Zealand, CySec, ASIC in Australia, and FCA in the UK regulated and authorised XM Forex for trading.

So, XM is a real and one of the most recommended websites when the safety for the personal data and money is concerned. However, you cannot say that it is the only exciting and great thing about the XM platform. There is much more.

XM Forex Review – Customer Support, Trading Options/Instruments

Also, you will have a great experience with the website customer support. They provide 24/5 services and with 17 numerous languages, which makes it convenient for any customer. It doesn’t matter if you are a beginner or a professional, any questions and requirements will be answered as soon as possible. Besides, several trading options are available on the XM website, which includes foreign currencies, stocks, commodities, precious materials, etc. Usually, 99.35% of orders for trading are executed in not more than one second. Also, the leverage is good as well – 888:1 and the XM Forex offers more than 100 financial instruments. You must be careful about the currency options that are multiple on the website such as USD, GBP, EUR, CHF, AUD, etc.

XM Forex Review – Account Types and Withdrawals/Deposit Methods

For the XM Forex broker, more than 60 currency pairs are available to trade with, whereas the lowest deposit is just $5, which makes it appropriate for beginners in forex trading. So, if you are a beginner XM Forex broker might be a choice for you.

Also, beginners surely don’t want to risk a lot of money while taking the first steps in the forex market. Well, the audiences of XM Forex have options of different types of accounts for registering, including standard account, executive, micro, Islamic, managed and lots of other accounts. People who are not sure whether they have to remain on the website or not before testing the platform, they have an option to avail demo account type. While trading with the XM Forex broker, you will not have to pay for the hidden fees or commissions, whereas the withdrawal and deposit payment methods are the universal standard methods including debit and credit card, iDEAL, Moneybookers, UnionPay, Neteller, WebMoney, Skrill, Wire Transfer, and SOFORT.

XM Forex Review – Features

XM has a proud history as well as many accomplishments. To connect with clients and partners, in order to interact with them on the principle of face-to-face communication, XM Forex management has visited over 120 cities around the world.  To educate traders, they have arranged more than 100 seminars that enable them to make trading decisions better. With the help of these activities, the XM Forex reached the highest level of client maintenance of any Forex broker, anywhere. In reality, the XM provides itself on having more than 300,000 real accounts opened to date from 196 countries. More than 150,000,000 trades are executed with zero re-quotes or rejections. Over 100 financial instruments are there to choose from without having any commissions or hidden charges.

XM Forex Review – Education

Account holders in the XM Learning Center have the options to get benefit from weekly webinars in 13 multiple languages such as Arabic, Polish, Indonesian, Bengali. And some others are presented by 18 professional instructors whose pictures are available on the site. Also, an endless list of video tutorials and cover topics available that are as basic as how to open a Forex account, how to use an MT4 Droid pad, etc. Other than that, upcoming seminars and workshops are given as ones who have already taken place. Yes, XM Forex has the material you need; however, we have the Forex education written as simple as it can be for you to understand it better.

XM forex review

XM Forex Review – Bonus System and Types

Before signing in a specific website, you need to consider learning information about the broker, every time. Another part of this process is to check if the available bonuses are suitable enough or not. One must be grateful to the XM Forex broker as they offer a handful of promotions and exceptional extras that you should definitely check out now.

No Deposit Bonus

It is the best Forex bonus ever, which is still part of the bonus system that the website of XM Forex provides to all of its clients. To explain even more precisely, just newly registered clients can get benefit out of it. With $30 you can avail the no deposit bonus only if you are a newbie and have just created your registration with an authorised account to trade from.

Welcome Bonus

For all of the newly registered clients on the XM website, another welcome bonus is here. It allows up to 100% with a maximum reward of $5000 of your primary deposit. Well, this is not like the previous bonus type, you are required to make a deposit in advance and then to receive the bonus. So in case, you have deposited $200 you can have $400 in your wallet.

Loyal Bonuses and Programs

You can apply for the loyalty program once you become a regular customer on XM. With this program, you will get many extras and special promotions. To make it possible you need to collect a particular amount of points that are being provided during your experience on the XM platform.

Special Seasonal Bonuses

You can check out for special seasonal bonuses on XM. As this platform has the custom to renew the bonus system every time. So, you can receive an additional offer throughout your experience here.

After seeing what XM Forex offers if you want to see what are the best Forex bonuses and where XM Forex stands we have the article for you.

XM Forex Review- Commissions and Fees

Commissions and fees at XM Forex can vary depending on the account you have. You have three accounts to choose from; there are the commission-free Micro and Standard accounts and the XM Zero Account that has commissions.

Looking at the XM Zero account, trading with XM Forex average spreads are something around 0.1 pips without any commissions. Additionally, trading with the commission-free Standard and Micro account with XM Forex, average spreads are around 1.7 pips. You don’t know what a spread is? Then we have an article for you to see to learn more about what a spread is.

Adding the $7 per Round Turn commission to the average spreads of 0.1 pips, the all-in cost of a trade is 0.8 pips, and that makes XM Zero account the most competitive price offering of XM Forex.

Why Should You Choose XM Forex Broker?

So, you must have made many points cleared in this XM trading review. Now, definitely thought of ‘why you should choose XM Forex broker?’ is arising in your mind. Now we have reached the best part of our XM Forex review, which is a list of the most significant benefits that cover this Forex broker platform. Check out and see why the majority of the traders love XM Forex:

  • They have strong regulations, a good reputation and are reliable as we discussed earlier.
  • They have an outstanding bonus system with frequent updates of new bonus type.
  • XM Forex has strict NO re-quotes.
  • Along with other benefits, they have excellent customer support services.
  • With efficient and fast trading, they execute each trade.
  • They have good leverage 888:1.

Final Thoughts

Now you must be confident and calm to test the XM Forex as your broker of choice, as you have read the XM Forex trading review. It is concluded, that XM Forex is safe, reliable and have an easy interface for the beginners. Besides, you can even become an advanced trader with this platform as it offers a variety of features for you. However, before you start trading, you must have a strategy prepared, since that is important for your success. If you don’t have one, then don’t worry we got you covered with our ”One-Two” strategy so that you can trade with a clear plan. If you enjoyed our XM Forex review, you can also take a look at our EverFx review and EuropeFX review, so you would have more brokers to choose from.

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