XM is a Scam FOREX Broker? Should We Trade In XM?
Those who think XM is a scam just had a lousy time trading, they made the wrong move or didn’t have a good luck selling, and it happened while they were using XM, just as it happens with many forex brokers. So, if they had a bad time while using XM, they’ll blame XM for it when XM had nothing to do with it. XM has been a forex broker praised by many traders for their quick and responsible customer support, excellent trading conditions, liquidity, and numerous bonuses and promotions.
XM forex made its way to put its mark in the trading network by offering unique features that not all forex brokers provide, like low spreads from 0 pips onward. Regarding minimum deposits, XM isn’t exigent with minimum deposits required to test their trading conditions. XM is registered under the umbrella company name of Trading Point of Financial Instruments Ltd. They have built their reputation in the corporate business through following their core mission which is to conduct their business transparently and professionally. XM broker is subscribed to the rules and regulations dictated by FI, FIN, BaFin, AFM, and CNMV. Another feature that adds liquidity to XM is the fact that XM has always succeeded its requirements of implementing speedy execution of orders in the market.
Should we trade in XM?
XM brokers offer a vast variety of features, different types of accounts and instruments to attract more clients. They also provide a wide range of trading platforms with support on various devices, each one suiting different kinds of trades, and providing a simple and intuitive interface. Having a strong educational base with varied types of materials, including webinars and courses, XM helps both experienced and beginner traders. So, if you want to get into the trails of forex trading, or looking for a new forex broker, XM should be a must-see in your list; and if you are not entirely sure, there are many of its features for you to see. Moreover, everyone can find XM office address, so there's no worry.
XM Trading Platforms
XM covers Windows and Mac with its three platforms being the MT4 and MT5 MetaTrader platforms and its WebTrader platform. You can use MT4 and MT5 on Windows and Mac, with high support on mobile devices, like Smartphone and Tablet and its Web-based WebTrader, available in every platform with an internet browser. All of these platforms are an advantageous feature in XM if you are into working with few accounts at once, getting an advantage of XM different instruments.
XM Account types
XM offers three different types of account, covering the needs of its clients depending on what they are searching for, these are MICRO Accounts, STANDARD Accounts, and XM ZERO Accounts.
- MICRO Accounts has many base currency options, including USD, EUR and many more. Its contract size is one lot equal to 1000, and its minimum trade volume is 0.01. Spreads are as low as one pip. XM leverage goes from 1:1 to 1:888 spreads on all major pairs Available with a minimum deposit of 5 USD.
Click to learn more Micro Account here
- STANDARD Accounts provides almost the same features as MICRO Accounts, but have a contract size of one lot equal to 100000, a maximum of 200 positions on open or pending orders per client and a minimum of 1,000 units in its trading volume. Can be opened with only 5 USD.
Click to learn more Standard Account here
- XM ZERO Accounts has USD, EUR or JPY as base currencies. XM spreads are as low as 0 pips, and traders can operate a minimum volume of 0.01. XM ZERO Accounts can be opened with a minimum investment of 100 USD.
Click to learn more Zero Account here
XM Bonus and Promotions
Bonuses and promotions are some of XM most attractive features. It offers plenty of promotions, making sure that your trading experience is different and better than with other forex brokers. Between XM promotions, you can find:
- The XM Trading Bonus, available to all traders in the instant they open an XM Real Account for the first time. It is a 30 USD trading bonus that allows users to test the quality of XM execution in a real trading environment, without worrying about investment risk (Or not that much). This bonus is available to be claimed as soon as you are done creating your account, it will be credited to your account, and it will be removed as quickly as you withdrawn profits for the first time.
- Zero Fees above 200 USD; According to XM Zero Fees Policy, XM has made sure to cover all deposits and withdrawal fees above 200 USD processed by wire transfer.
Get XM bonus Here
- Any trader who can or it’s maintaining a minimum amount of 5,000 USD (or its equivalent in other currencies) can request XM’s Free VPS service from the Member Area and enjoy the XM VPS. Linking to XM VPS allows traders to remotely connect to XM Virtual Private Servers located in London, near their data center, and enjoy trading without worrying about natural factors that could ruin your ability to trade, like a low internet connection.
- XM Loyalty Program is also available as soon as you sign up. Every time you make a trade at XM, it gives you XM Points; these points can be redeemed for credit bonus rewards. Everyone who creates a Real Account starts in the “Executive Level,” trading and earning XM Points will automatically upgrade your status until and so on until you reach a new level, each new level, the amount of XM Points you earn per lot increases, allowing you to receive XM Points at faster rates. The more, the better, after you have tons of XM Points, you’ll be able to redeem credit bonus rewards.
XM is an established broker, known to be reliable and highly professional at what it does. It aims to make your trading experience unique through all its features and bonuses, and proportionate help to its users with their interactive, friendly and helpful customer support, available 24 hours, five days a week. With all these said, why aren’t you trading at XM already? If you still have doubts, try the free XM demo account.