This is an explanation of XM.com, which is extremely popular.
I’ve been using XM for years and nothing strange has happened so far. If you cannot decide choosing a broker, you can use XM for the time being. The bonus is also gorgeous. However, the spread is a little wider.
- XM Overview
- XM Advantage and Disadvantage
- XM is Recommended for Such Traders!
- Is XM a Reliable Broker? Or Scam?
- XM Products
- Can Cryptocurrencies be traded in XM?
- XM Account Types
- XM Allows up to 10 Multiple Accounts
- XM Bonus Programs
- XM Deposit / Withdraw Options
- XM Educational Content for Beginners
- XM Customer Support
- Try XM Demo Account for Free
- Summary
XM Overview
| Company | Trading Point Holdings Ltd. |
| Established | 2009 |
| Regulated by | FSA(Seychelles), AFSL(Australia), CySEC(Cyprus) |
| Max Leverage | 1:888 |
| Spreads *STP/Avg. | 1.7pips/EURUSD、1.6pips/USDJPY |
| Commission *ECN | $7/lot |
| Products | Forex:57, Index:24, Metal:4, Energy:5, Commodity:8 |
| Account Types | 4 Types (Micro, Standard, Swap Free, Ultra Low) |
| Bonuses | 3 Types (Non-deposit, Deposit, XM Point) |
| Negative Balance Protection | Yes |
| Stop Out | 20% |
| Deposit & Withdrawal Fees | Free |
| Support | Phone, E-Mail, Chat |
| Platform | MT4、MT5 |
XM Advantage and Disadvantage
- High corporate safety and reliability
- Customer assets are segregated
- Popular and many users
- Easy to get information on internet
- Rich 3 types of bonuses
- High leverage up to 888 times
- Negative balance protection system
- Wider spreads
XM is Recommended for Such Traders!
- Novice
- Want to start with small capital
- Need negative balance protection
- Want to use trustworthy broker
- Easy to get information
- Need support
- Cannot decide a broker
Is XM a Reliable Broker? Or Scam?
We can say XM is a reliable broker.
Since XM has such a large number of customers and XM is a forex trading company that providing their services all over the world, I think that one day XM will never suddenly take away customer assets.
XM Licenses
XM has the following licenses.
- FSA (Seychelles)
- AFSL (Australia)
- CySEC (Cyprus)
XM has multiple licenses depending on the region where the service is provided.
XM Asset Conservation
Is there any measure to protect customer assets?
What happens to our assets (margin and profits deposited) if the forex broker goes bankrupt?
It should be decided that the forex broker who can guarantee customer assets as much as possible is more reliable.
It is the asset conservation system to evaluate it.
There are two main types of asset conservation systems.
- Conservation Trust
- Segregation of Funds
Conservation Trust is more reliable.
Conservation Trust means depositing all the customer assets to a third institution such as a bank. Forex brokers cannot withdraw funds without permission unless the customer instructs them to withdraw. Even if the forex broker goes bankrupt, the customer’s assets (balance at that time) are protected and guaranteed.
Segregation of Funds is to manage the operating costs of the forex broker and the assets under custody from the customer in separate accounts. Unlike Conservation Trust, the management is done by the forex broker itself, so even if the forex broker goes bankrupt, the customer’s assets are may not fully guaranteed.
How does XM manage customer assets?
XM manages customer assets by Segregation of Funds.
It is not Conservation Trust, so it’s a little less reliable.
However, since AIG insurance covers up to 1 million dollars, it seems that the minimum assets are protected even in the unlikely event of bankruptcy.
From the above, it can be said that XM is a reliable broker.
XM Products
XM offers 98 products.
XM is at an average level in terms of number of products and brand types.
Regarding commodity futures, XM offers slightly more than other contractors.
- Currency pair : 57
- Index : 24
- Energy : 5
- Metal : 4
- Commodity : 8
- Total : 98
Please refer to another article for a detailed explanation of the products handled by XM and the terms and conditions of the transaction.
Can Cryptocurrencies be traded in XM?
Recently, trading of cryptocurrencies such as Bitcoin, Ripple, Ethereum and Other Altcoin has become popular again.
It is very popular with short-term traders due to its large price fluctuations.
Bitcoin has also risen steadily, finally surpassing $ 20,000 in late 2020. There are also long-term traders.
Can cryptocurrencies be traded in XM?
Unfortunately, XM does not allow you to trade cryptocurrencies.
It used to be traded, but it was discontinued in 2019.
It’s a shame for XM users.
The forex brokers that allow to trade cryptos are summarized in a separate article, “Best Forex Broker for Crypto Trading“.
I also introduce trading conditions and recommended brokers, so please take a look.
XM Account Types
There are four types of XM accounts in all.
There are also accounts dedicated to stock trading, but I don’t explain them here.
If you get lost, you can choose the standard account.
| Micro | Standard | Swap Free | Ultra Low | |
| Contract Size | 1 Lot = 1,000 | 1 Lot = 100,000 | Standard: 1 Lot = 100,000 Micro: 1 Lot = 1,000 | Standard: 1 Lot = 100,000 Micro: 1 Lot = 1,000 |
| Max Leverage | 1:888 | 1:888 | 1:888 | 1:888 |
| Negative Balance Protection | Yes | Yes | Yes | Yes |
| Min Spreads | 1.0 pips | 1.0 pips | 1.0 pips | 1.0 pips |
| Commission | No | No | No | No |
| Min Trade Size | 0.1 Lots | 0.01 Lots | Standard: 0.01 Lots Micro: 0.1 Lots | Standard: 0.01 Lots Micro: 0.1 Lots |
| Swaps | Yes | Yes | No | Yes |
| Max Deposit | $5 | $5 | $5 | $50 |
Regarding XM all account types, refer to the separate article, “XM All Account Types” that explain you the detailed specifications and conditions.
Also, regarding opening an account, please refer to the separate article “How to open XM account“, which explains the procedure for opening an account using images.
＼Just 3 minutes!!／
XM Allows up to 10 Multiple Accounts
You can open multiple accounts up to 10 in XM.
Creating an additional account enables more risk-reduced and efficient operation.
With additional accounts, you are free to choose not only the account type, but also the account currency, leverage, trading platform, etc., just as you would when you first created an account.
By changing the account type or the conditions such as leverage, you can separate the currency pairs and products to be traded for each account, trade with different leverage, separate the discretionary trading and EA (automatic trading) trading accounts, it will be easier to manage.
If you cannot decide account type for the first account, let’ select Standard account.
If you want to try another account type, you can add an account and select it.
Also you can easily transfer funds to additional accounts from the website.
Please also refer to the separate article “How to Open XM Additional Account“, such as how to open an additional account and how to operate using multiple accounts to reduce risk.
＼Just 1 minutes!!／
XM Bonus Programs
XM provides three types of bonus programs.
XM Non-deposit Bonus
You can get $30 as Non-deposit bonus.
Please note that after opening an account, you can upload your identity verification documents and receive bonus after passing the examination.
Also, you can select “Don’t receive” when opening an account, so please be careful if you want a bonus.
For more information, please refer to separated article, “XM Bonuses and Promotions Review“.
XM Deposit Bonus
You can get a deposit bonus of up to $ 5,000.
You will receive a 50% bonus on your deposit until you reach $ 500, and a 20% bonus on your deposit until you reach $ 5,000.
For more information, please refer to separated article, “XM Bonuses and Promotions Review“.
XM Loyalty Program
One more, which is called XM LOYALTY PROGRAM, is that you can collect points called “XMP” by each trading and exchange them for cash.
Members have status, starting with EXECUTIVE and then to GOLD, DIAMOND, and ELITE.
The condition for rank up is the number of trading days, and the rank will automatically rise as you continue trading.
With EXECUTIVE, you can get 7XMP (XM points) per lot.
16XMP per lot when it comes to ELITE.
The conversion rate is the number of XMP points divided by $3.
Following image is from my account. Points will be automatically accumulated just by making a transaction.
For more information about XM Loyalty Program, please refer to separated article, “XM Loyalty Program | How to Utilize XMP“.
XM Deposit / Withdraw Options
Credit card , bitwallet, STICPAY, domestic bank remittance. It depends on your location.
Please note that when withdrawing, you must withdraw up to the same amount as the deposit amount by the same means as when depositing. There is a priority and the conclusion is that all profit withdrawals will be bank transfers.
Please refer to the separate article ”XM Deposit Methods | Fees and Conditions” for details on how to deposit XM.
XM Educational Content for Beginners
XM offers a lot of educational content for beginners.
Live webinars, video tutorials, and daily market research analysis are all available.
In addition, there are contents that are useful not only for beginners but also for intermediate and advanced users, such as providing economic indicator calendars, tools that calculate complicated required margins, signal distribution and copy trading functions.
There are so many contents.
These contents are summarized in a separate article, so please have a look.
XM Customer Support
XM has support systems around the world and can communicate in any language.
XM also offers real-time communication via live chat.
| Customer Support | Supported or not |
|---|---|
| Live Chat | ✔ |
| ✔ | |
| Inquiry Form | ✔ |
| Phone | ✔ |
For more information about XM support, please refer to the separate article “XM Customer Support | Any Language as You Like!“.
Please refer to it.
Try XM Demo Account for Free
In order to know the trading environment and usability in XM, it is effective to open a demo account and do actual trading.
XM makes it easy to open a demo account.
For details on how to make use of XM demo account and how to open it, see the separated article “How to utilize XM demo account“.
If you have not decided to trade with XM yet, why not try trading with a demo account?
＼Open for Free!／
Summary
Since there are a lot of information that you can get on internet, there are a lot of bad rumors, but I think that it is a company that I can recommend from a comprehensive perspective.
The number of users is probably increasing because it is easy for beginners.
＼Just 3 minutes!!／
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