Overview of XM Review:
Founded in 2009, XM is an online broker that offers trade in Forex and CFD. With over 11 years of experience in the market, the company has customers around the world. The brainchild of Trading Point Holding, this brokerage firm has earned a good name for itself in the market. Read the full review to know more about XM in this XM review.
In this section, we will be discussing the demands and offers met by XM in detail. We will also be mentioning any signs of red flags or green flags about the company.
Every brokerage firm must have regulation from the regulator for the origin they are based out of. This regulation gives them the legal right to operate in the financial market. Scam brokers often fail to get the license as they do not qualify for the tests the firms have to go through to get the license. In our case, XM has three licenses from regulators around the world. These licenses are from the Cyprus Securities and Exchange Commission( CySEC) of Cyprus, the Australian Securities and Investment Commission(ASIC), and the International Financial Service Commission(IFSC) of Belize. This gives us the first green flag for XM in this XM review.
XM Minimum Initial Deposits and Account types:
XM offers a total of five different trading accounts to their customers. Even the sight of this assures variety for the comfort and ease of the customers. The accounts are Micro Account, Standard Account, XM Zero Account, XM Ultra Low, and Shares Account. All these accounts have a wide range of offers for the customers to choose from with the minimum initial deposit starting at as low as $5. The variety of account types and the initial deposit gives us yet another red flag for XM in this XM review.
Yet another green flag for XM is because of the wide variety of languages they provide for the customers to choose from. The customers can now choose from Arabic, Bengali, Chinese, Czech, Dutch, Filipino, French, German, Greek, Hungarian, Indonesian, Italian Korean, Malay, etc.
XM Trading Platform:
XM provides MetaTrader 4 or MT4 and MetaTrader 5 or MT5 as their trading platforms. These are the industry’s leading software thus ensuring a faster working and easier user interface. This gives us yet another green flag for XM in this XM review.
XM Deposits and Withdrawals:
At XM, customers can choose from a variety of eleven currencies such as EUR, USD, GBP, CHF, JPY, AUD, RUB, etc. this is yet another sign of a legit broker as a scam broker will not offer these many options.
The deposit and withdrawal methods include Bank transfer, debit cards, credit cards, and e-wallets. This gives us yet another green flag for XM in this review.
Conclusion: Is it a scam or legit?
To sum up, all that has been said above, we can say that it is completely safe to use XM for trading and investing. XM is a regulated broker and that should be enough for customers to trade with this broker.
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