Best forex brokers 2017 / scam or not? Review scam or not? Review

In recent years, a dynamic industry of online brokers has developed which vies with special offers for the favor of risk-taking investors. The keywords in this industry loud Social Trading, Binary Options or CFD trading. In most cases, providers have specialized in individual asset classes, other vendors offer equal to the entire spectrum of leveraged financial products. One such provider is XM , a subsidiary of Trading Point of Financial Instruments, a company based in Cyprus companies.

Trading: Forex, commodities, precious metals, indices
Underlying: over 90 stocks, commodities and currency pairs
Software: MetaTrader 4, WebTrader Multi Terminal, Apps
Regulation: CySec

The customer can intervene alongside commodities, stock indices and precious metals in the forex trading different currency pairs at XM. In addition, XM tried to address different customer groups in which can be traded as well with very small amounts, or by compliant accounts are offered with Islam. In addition, the provider accepts lay claim to submit new offers available for both experienced and novice traders. We have made and checked how successful, as many customers interests satisfactory to use the same test with XM. In our review, the results can be read.

Our experience in tourism

XM Our experience in tourism

The company, founded in 2009, is a constantly growing in recent years Broker who has developed next to his range of tradable products and trading instruments and its global presence continuously. From this diversity and the experience of course also benefits the customer. According to information provided XM now has a huge customer base with real 300,000 accounts opened and merchants from nearly 200 countries. Here, the provider attempts to make its customers spot deals are conducted in the real, not made online events. But first to XM be considered from the perspective of potential new entrant, seeking a suitable broker.

Company: Trading Point Holdings Lt
Address: 12 Richard & Verengaria Street, 3042 Limassol, Cyprus
Registration number: HE 322690
Regulatory / license: CySEC, 120/10, BaFin registered
Phone: +357 25029933
eMail: [email protected]
Service times: MF 24
Fax: +357 25345225

Basically, four different types of products can be traded at XM. These include commodities, precious metals, stock indexes and international currencies. In stock indices and commodities to XM it operated the instrument of CFD trade, in German-speaking countries also called differential contract in which can be placed on the performance of a specific underlying. For the other commercial forms spreads form the basis. Here leverage ratios of up to 1 are: 888 offered. Regarding currency pairs in forex trading , the investor can choose between the impressive number of 60 Different currency pairs. All common currency of US Dollars, Euros, British pounds, Swiss francs or Canadian dollars are possible. Also a selection of Scandinavian currencies as Swedish or Danish Krone is offered by XM for trade. The broker XM has this to both variable and fixed spreads that can be leveraged on an interest rate swap, ie borrowed capital. While XM in the case of variable version spreads are taken directly from the forex market, the dealer must expect certain trade restrictions on our experience in the fixed spreads.This lies in the fact that they must be calculated anew. In addition, fixed spreads are usually higher, what the income opportunities also increased. Therefore, the trader an additional insurance against the risk of default has to complete in this case. The range of the variable spreads starts already at a Pip, this ensures XM waiving a so Reqouting to, ie, the original conditions that prevail in the financial markets, passed. In the case of trade in US dollars and euros, a pip of the exchange rate of 0.0001.

XM Our experience in tourism

Also in commodities XM offers a selection. These include, in addition to cocoa, corn, coffee and soybeans, as well as sugar and wheat. Added to this there comes a selection of energy products such as oil and gas. Here are CFDsused. These contracts also provide the basis for trading in equity indices, while in precious metals spreads form the basis for trading. Overall, the customer finds a wide range, even if the selection is rather small within the product categories. So there are only two precious metals and raw materials only 13 to choose from. Other platforms offers as well more.

Overall, our experience with the broker XM that the customer may be inherent in all in all quite fair fee system.This also means that for the trade a single lever is set, the only the customer can change individually. This can in principle also a uniform level of risk set. In addition, XM offers the Mico account and standard account, two different types of accounts, which can also be seen as a contribution to the control of the commercial risk. While is traded as a unit while Micro account with a so-called Micro-Lot, it is the default account, the standard lot. A Micro-Lot corresponds to 1,000 units of a currency pair, a standard Lot contrast equal to 100,000 units. In addition, the solder can also be reduced again to 0.1 Lot. In order for a trading with very manageable amounts is possible. Our experience shows that this is a very good way for beginners, first enter low risk in trading. Logically, then, the chances of winning is not as high.

One last feature that is offered to minimize the risk, the so-called is «negative credit protection.» Thus a possible funding obligation of vorherein is excluded. More generally, as a customer of XM very quickly the impression of a serious thoroughly provider that makes its terms fraud and rip-off of vorherein impossible.

Finally, it should be mentioned that the trading with XM always went smoothly according to our experience and all transactions have been processed in a timely manner. This is, especially in view of the broad spectrum of action not be taken for granted because of certain positions is not always the appropriate liquidity in the market.By working with nine trading platforms and other trading houses but this succeeds remarkably smoothly.Nevertheless, corresponding shortages can not be ruled out entirely.

Bonus for new customers

XM Bonus for new customers

Also multiform is the bonus program that offers XM both for new customers and for existing customers. So there are for new customers initially a bonus of 25 euros regardless of the initial deposit amount. Thus XM is a Forex broker no deposit , granting a free bonus. This bonus can be credited on request in other currencies such as the pound sterling, US dollars or other currencies. Unlike many other brokers XM offers also that winnings will be immediately cashable bonus with this and any further conditions are attached to this bonus. Our experience with other brokers show that this is a very fair offer.

Deposit bonus: € 25 free, 50% bonus up to $ 500, 20% bonus up to $ 5000 (or currency equivalent)
Bonus Rules: Bonus can be used for trading, but not paid
Validity: unlimited
Other bonuses: Monthly $ 20,000 Competition

In addition, XM has a no deposit-related bonus for its new customers. This bonus is structured on two levels and offers the first two payments a maximum bonus of 5,000 euros or the equivalent in another currency. There are on top of it a capital bonus of 50 percent, and at a second deposit of a further 20 percent by the specified amount at a first deposit. This bonus is in principle each one can also be used by existing customers. In addition, there are explicitly designed for existing customers bonus programs. This loyalty — Boni said contributions are linked to the duration of the trading activity. For the start of trading, there are 10 loyalty points (XMPs) or Lot credits. The dealer can choose if he wants to cash out these credits, or uses it commercially. The bonus points boost according to the Classification. After 60 days, there are 13 lots or XMPs, after 100 days 20 In addition, customers were lifted by equity trading credit worth 5,000 US dollars in a status that allows them better access and even more rapid trade, in which they are entitled, to connect to the virtual private server (VPS). Rounding out the bonus offer where customers can win up to € 20,000 through free competitions.

Deposit and withdrawal

Regarding deposit and withdrawal methods makes XM customers also very simple. Currently it is possible to arrange for payments over a number of common credit card provider. In addition, a number of electronic payment systems, such as giropay or Instant Banking offered. Individual services are not equally available in all countries. The same systems are also available for disbursement. Here XM attaches great importance to rely exclusively on legitimate and internationally recognized provider. Payments are possible in addition also by bank transfer. Particularly convenient for the customer, it is that with all providers the applicable fees are taken over by XM. This applies both for the deposit and for the payment. In addition, across applies a very low Mindesteinzahlbetrag of five euros. As regards the duration of the deposit XM is dependent on cooperation with the providers, this is the reason for partly different periods. In the credit card transfer usually takes place immediately. For Bank Transfer, it may take a few days for the credit to be carried out on its own account.

XM Deposit and withdrawal

Payment options: Visa, MasterCard, Visa Electron, Maestro, Diners Club, UnionPay, Neteller, PayPal, bank transfer, Moneybookers, iDeal, Paysafecard
Minimum deposit: $ US 5 (or currency equivalent)
Fees: no
Accounting possible in: Euro, US dollars, British pounds, Japanese yen, Swiss franc, Australian dollar, Russian ruble, Polish zloty, Hungarian forint, Singapore dollar, South African Rand
Withdrawal Options: Visa, MasterCard, Visa Electron, Maestro, Diners Club, UnionPay, Neteller, MoneyBookers, Webmoney, Bank Transfer

Safety and regulation

Regarding safety of deposits XM offers the usual rules. This includes a guaranteed deposit guarantee to 20,000 euros. Moreover, the deposit insurance be higher, however, varies according to the level of individual customer deposits. In principle, therefore a higher security can be agreed.

In addition, the usual in the sector segregation is applied. That is, in the event of insolvency of the broker, the assets of the customer remain untouched. As a subsidiary of Trading Point of Financial Instruments based in Cyprus XM falls under the regulation of the EU, raising fundamental standards guaranteed, preventing fraud and rip-off. A further guarantee of a high degree of reliability is the regulation by the Cypriot regulator CySEC. This among other things it about that adequate liquidity is available.

Support and Customer Service

Exemplary, available at all times and in multiple languages — that are the main attributes of the customer service of XM. World Tired are so ready to answer customer queries patiently and competently at any time, professionally trained staff. Particularly with the not always uncomplicated products an important and helpful service.

Website usability

Basically, the customer has to do with the offers of XM with sometimes highly complex trading products that are just not meant for beginners at first glance. Often, the operation will not shoot even directly from the statements on the website. For this purpose, and should make use of the telephone support service and training offerings extensively offered the customer, before going into the trading. To test is also a demo account. All this is in XM course via mobile app possible, which is provided for all systems from iPad to Android.

Conclusion — leveraged trading seatbelt

The broker XM to the merchant opens up a wide range of tradable leverage products, even if the selection is manageable within the categories. Whoever finds his product here has with XM but a solid and serious partner with fair conditions. Additionally, it features a number of security levels, to limit the losses in this risky market segment. This «safety» may be very important for beginners although its use is not mandatory, of course.
In recent years, a dynamic industry of online brokers has developed which vies with special offers for the favor of risk-taking investors. The keywords in this industry loud Social Trading, Binary Options or CFD trading. In most cases, providers have specialized in individual asset classes, other vendors offer equal to…



Not a scam

XM is an international broker with European regulation, which invests heavily in training for its customers.

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User Rating: 3.2 ( 2 votes)

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