When it comes to choosing a Forex broker, something that attracts many new customers is the promise of something for nothing. Those of you reading this XM Group Forex broker review will be pleased to learn that at the time of writing, XM Group are offering new customers a $30 Non-Deposit Trading Bonus (Not Available for clients registered number Trading Point of Financial Instruments Ltd and trading Point of Financial Instruments UK Ltd). And that’s not all. They’re promising the opportunity to trade more than 250 financial Instruments: Forex, Cryptocurrencies CFDs, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs using the popular MT4 & MT5 trading platforms. So let’s fill you in on who this brand name is, and whether they are worthy of your time.
The background and history of XM Forex broker
XM Group is a group of regulated brokers and it is owned by Trading Point Holdings Ltd.
Entities under XM Group have significant experience as financial services providers worldwide.
Trading Point of Financial Instruments Ltd was established in 2009 with headquarters in Limassol, Cyprus, Trading Point of Financial Instruments Pty Ltd was established in 2015 with headquarters in Sydney, Australia and Trading Point of Financial Instruments UK Ltd was established in 2016 with headquarters in London, UK.
XM Group is regulated by the CySEC (Cyprus Securities and Exchange Commission) – Trading Point of Financial Instruments Ltd, FCA (Financial Conduct Authority) – Trading Point of Financial Instruments UK Ltd and the ASIC (Australian Securities and Investments Commission) – Trading Point of Financial Instruments Pty Ltd.”
Brokers Name: Trading Point Holdings Ltd
Established year : 2009
Broker Type: Market Maker
Accept Us Clients: No
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XM Forex Broker Review
XM Group’s clients benefit from direct access to the financial markets in over 250 financial instruments including Forex, Cryptocurrencies CFDs, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs with transparent real-time pricing, low spreads, and flexible leverage.
- Trade forex on over 250 financial Instruments
- Multiple trading platforms, including MetaTrader 4, MetaTrader 5 and Web Trader on all mobile platforms
- 100% execution, 99.35% in under 1 second
- No re-quotes or rejections
- Tight spreads
- Instant deposits with zero fees, same day withdrawals
- Flexible leverage up to 1:30 ( Note: Leverage applies to all the EU regulated entities of the group. Leverage depends on the financial instrument traded.)
- No negative balance
XM Group is a group of regulated online brokers.
Trading Point of Financial Instruments Ltd is established in 2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10),
Trading Point of Financial Instruments Pty Ltd is established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670)
Trading Point of Financial Instruments UK Ltd is established in 2016 and it is regulated by the Financial Conduct Authority (FCA 705428).
Licenses and more information can be found at http://www.xm.com/regulation
A wide range of trading platforms for both demo and real accounts
XM Group offers a wide array of trading platforms for those who open demo and real accounts. By far, the most popular ones MT4 & MT5. MetaTrader 4 & MetaTrader 5 support an unlimited number of real and demo accounts, as well as Expert Advisors. The available trading platforms support market, limit, stop, and trailing orders, all accessible from 1 account. Which means that trading operations are swift and flexible. Whatever time, and wherever you might be, XM Group is open for business.
Trading platforms available include:
- MT4 & MT5 for iPhone
- MT4 & MT5 for Android
- MT4 & MT5 for iPad
- MT4 & MT5 for tablet
- MT4 & MT5 for PC
Minimum Deposit: 5 USD
Maximum Leverage: 30:1
Minimum Trade Size: 1000 units
Hedging Facilities : Yes
Free Demo Account: yes
Traders From USA: No
Islamic Account: Yes
Fees & Commissions
Commissions: 7$ commission at the XM Zero account
Depositing Fees: No
Withdrawal Fees: No
Payment Methods : Multiple Local Payment Methods
Supported Languages: English, Greek, Japanese, Simplified Chinese, Traditional Chinese, Bahasa Malay, Bahasa Indonesia, Hungarian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Portuguese, Czech, Slovakian, Bulgarian, Romanian, Bengali, Urdu, Thai, Nepali, Tagalog, Cebuano and Serbian.
Customer Service Methods: Call Back, Phone, Live Chat, Email.
Customer Service Hours: 24/5
Telephone Trading : Yes
Personal Account Manager: Yes
Account types available:
XM Group offers its clients 3 types of account: MICRO, STANDARD, and ZERO with low spreads and leverage that can reach the maximum of 1:30. The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5 . The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5 . Finally, XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $100. XM ZERO account has a $3.5 . commission per $100,000 traded.
The chance to benefit from an exciting XM bonus
XM Group has gained quite a reputation for a number of reasons and one of them is their very generous set of bonuses and promotions. ( Note: Trading bonus and Loyalty Program are not eligible for clients registered under Trading Point of Financial Instruments Ltd and Trading Point of Financial Instruments UK Ltd.)
- Free VPS for clients who maintain a balance (Equity-Credit) USD 5,000 or currency equivalent.
- $30 No-Deposit Trading Bonus for new clients only.
- The two-tier deposit bonus offers 50% deposit bonus up to $500 and 20% deposit bonus up to $5,000.
- The XM Loyalty Program offers the clients XM Points (XMP) per lot traded. These XMP can be redeemed at any time for credit bonus which can be used for trading purposes only.
Multilingual customer service 24/5
An important factor to consider when writing any Forex broker review is the quality of customer service and support. XM Group offers multilingual personal account managers at the disposal of both real and demo account holders. Contact can be made by telephone, email, or live chat. 24 hours a day, 5 days a week.
Beginners will be pleased to learn there is a whole library of educational material, including weekly interactive webinars, free video tutorials, as well as Forex news and market analysis.
There is a lot to be said about the high standard of security for payment methods, as well as negative balance protection, no re-quotes, no hidden fees or commissions policy. All major payment methods are supported.
All in all, XM Group are very transparent brokerage firms that serve customers with professionalism and integrity. There are heaps of favorable reviews to read if you want to learn more about them from their customers.