✔️ Information reviewed and updated in April 2024 by Eduardo López
Opinions and information about the XM forex broker
¿It is the really reliable XM broker (also called XM.COM)? Is it safe for you to invest your money with this company? In this section we will analyze the company and its reputation as such on the internet.
Do you want to give us a hand and help inform about this company? We invite anyone who has experience with this company, to leave a comment with their experience and to rate the company according to their experience with it.
The Binarycent broker, is a broker of: binary options, forex and CFDs.
The broker mentions to be part of: the broker mentions being part of XM Global Limited, Trading Point of Financial Instruments Limited, XM Global Limited, Trading Point of Financial Instruments UK Limited, Trading Point of Financial Instruments Pty Ltd and Trading Point MENA Limited
Binarycent is based on: it is based in various countries; Australia, Cyprus and Belize.
If we talk about regulation, XM is: it is a regulated broker in Australia, Cyprus or Belize depending on the client's location.
This broker offers varied options to operate, such as (in addition to forex, of course) CFDs and futures.
Like its predecessor (Trading Point) XM has only 2 different supported platforms, which are XM Metatrader 4 and XM Web Trader.
If we talk about the types of account available, XM has 3 different types. Micro Account: This is the one for novice traders who want to generate profits with a relatively low level of risk. This type of account has a contract size of 1.000 per lot and a leverage of 1: 1 to 1: 888 ($ 5 - $ 20.000). The minimum deposit is $ 5. 1 pip spreads on all major currency pairs. Standard Account: This is more recommended for traders with more experience and with more knowledge of the financial market. This type of account has a contract size of 100.000 per lot and a leverage also of 1: 1 to 1: 888 ($ 5 - $ 20.000). The minimum deposit is the same as the Micro account ($ 5) and the spreads, also 1 pip on all major currency pairs. In both plans, you can have 11 currencies available (USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD and ZAR) to trade. XM Zero Account: This type of account also has a contract size of 100.000 per lot, but the leverage is from 1: 1 to 500: 1 ($ 100 - $ 20,000). The minimum deposit is $ 100. Spreads as low as 0 pips in major currencies.
One positive thing about XM is that traders can use demo accounts for as long as they want (for free obviously), although demo accounts that have been inactive for more than 120 days are deleted. Although of course if this happens to you, you can open a new account.
Another positive fact is that XM offers the possibility of Islamic accounts (swap-free and interest-free rollover accounts in overnight positions, which is not accepted by the Islamic faith).
As for what additional resources the company offers, we must say that it has quite a few resources. Some of the most interesting are: forex signals (although only for account holders), forex and financial market news and analysis, economic calendar, forex calculators, and many webinars, educational videos, video tutorials and seminars.
XM broker features
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Additional information about the company
Phone number: +357 25029933
Email: [email protected]
Website: www.xm.com
Clarification: Note that XM works in different countries, so the information provided may not apply to your country.
* Bonuses or promotions: 1) $ 25 free no deposit bonus 2) 50% deposit bonus of up to $ 500 or equivalent currency + 20% deposit bonus of up to $ 5.000 or equivalent currency 3) Currently XM is promoting a world forex championship with a prize of $ 1.000.000
XM valuation
With the information we have so far, the comments and reviews of users and traders, our opinion is that it seems like a safe broker to invest. Why? It is a regulated broker in several jurisdictions, this gives us security; On the other hand, it offers very useful resources for the trader, even for the inexperienced, and when looking for reviews about XM we managed to find a large number of reviews and positive comments recommending its use.
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↓ ↓ ↓ Traders and users score
Yes, I am starting to smell bad XM. I didn't expect it to fail, but when there are very high volatility jumps it fails. Of what if I am very sure that it calculates very badly the open positions. As if he was abusing the status of marketmaker. Lagging real price data.