XM Background – Big, Fair and Human
XM is the registered trade name of Trading Point Holdings Ltd. The company was established in 2009 and their vision is to focus on becoming a large and well-established investment broker. The headquarter is located in Cyprus and they have another branch in Belize.
XM maintains a set of high values represented mainly in maintaining the best relationship with customers, community and third-party service providers. They put their clients within their first priorities and makes use of all their capabilities for serving them, and this is clearly reflected in all the company’s activities. The broker is now employing about 300 professionals with long experience in financial services, offering them everything they need so that they can provide the best services.
In a short period of time, XM was able to create a distinctive name, that attracted thousands of traders to work with them. According to the broker’s latest statistics, they now have about 1.5 million traders from 196 countries around the world. XM pays great attention to the humanitarian side. During the course of their work, they visited more than 120 cities, from all over the world, and met with investors and partners to learn their needs closely. This can only be done by the top companies.
Since their inception, each year, XM have won the quality performance awards and the last ones were in 2017; Best FX Service Provider and Best Trading Support.
XM Unique Features – Outstanding Customer Support
The most important feature of XM is to serve their clients in an ideal way, different from any other brokerage firms. They have a simple philosophy to ensure customer satisfaction, and to gain their loyalty to maintain a good reputation and high credibility. For this purpose, they hosted hundreds of traders in many seminars and special events, and got to know them closely, helping them to build profitable trading strategies.
XM focuses on the sustainable development of all their workforce through continuous training and development, so that they are able to achieve the company’s strategic objectives in providing the best possible customer service.
They have 16 different full-featured trading platforms where transactions are executed with high speed and complete certainty. According to the XM’s statistics till this moment, more than 1,400,000,000 transactions have been implemented through their platforms, not counting rejection or re-pricing. In addition, 99.36% of all orders are executed in less than one second.
XM offer their clients a range of unique technical and fundamental analysis through a group of the world’s best experts. They also offer a range of successful trading signals, all of this is provided for free.
There are many studies and in-depth market research that is provided to their clients for free, along with a range of educational tools to suit all levels of traders.
Trusted and Regulated
A broker that offers all these advantages, and have so many customers, certainly means that they operate their business in an organised way according to law. XM has several licenses and is subject to control and supervision by a number of international financial organisations including:
- XM Global Limited is licensed by IFSC under license number IFSC/60/354/TS/17.
- Trading Point of Financial Instruments Ltd is licensed by CySEC under license number 120/10.
- Trading Point of Financial Instruments Pty Ltd is licensed by ASIC under license number 443670.
Reliability and Safety
The broker adheres to strict safety standards, in order to protect clients’ funds, with the goal to create a safe trading environment. All clients funds deposited with XM are segregated from the company’s own funds. The clients’ funds are kept in separate bank accounts. They also protect their clients from negative balance, so the customer will not be responsible for any negative balance that occurs in times of large fluctuations.
XM have agreements with a number of insurance companies to protect traders’ funds when exposed to risky situations. They also use high-quality technology to encrypt their website in order to ensure the security of the clients’ personal information.
Withdrawals and Deposits – Easy, Safe and Fast
With XM, traders can deposit and withdraw funds using 25 different methods, including credit cards, e-wallets and bank transfers. They allow small deposits where the minimum is only $5 and do not charge any commission on withdrawal and deposit.
The deposit process takes place immediately while withdrawals are processed within 24 hours. For security reasons, XM do not accept deposits through third parties, they only accept payment if it carries the same person’s name as it is shown in their legal documents. They only allow the withdrawal of funds in the same way that they are deposited.
More Than 700 Financial Instruments to Trade
XM is among the best companies in terms of the number of financial instruments provided to their clients through their various financial platforms. They allow trading of more than 700 different instruments, divided into 7 groups including Forex. XM offer their clients the ability to trade more than 55 pairs of major and minor currency pairs with very tight spreads of up to zero sometimes, and leverage up to 1:888.
The broker allows trading shares, commodities, energy, metals and indices also with tight spreads and a leverage of up to 1:888. XM did previously allow trading in a range of popular cryptocurrencies such as Bitcoin, Ethereum and Ripple. But they suddenly stopped it, for reasons related to the lack of reliable liquidity providers, they said.
XM offer their traders 3 types of accounts that differ mainly in terms of the minimum deposit and leverage used in addition to the spread. They also offer their clients the possibility to trade with micro or standard lots.
Customers Support – One of the Best
As mentioned above, XM see their customers as their capital, and the main reason to maintain their unique reputation, so they offer them a group of ideal services that makes them ahead of many companies. Technical support is available throughout the day for 5 days a week in more than 30 languages. They also offer account management services in a number of different languages to make it easier for customers from all over the world.
In order to maintain customer loyalty, they offer a group of promotional offers and bounces. For example, they give a welcome bonus of $30 without a deposit, and other bonus on deposit reaches up to $5000. XM also occasionally organise a series of competitions with big prizes. For instance, they organised a global Forex competition where traders from different countries participated, and they distributed prizes worth up to $1 million.
They provide customers with a range of educational materials including e-books, videos, webinar sessions and seminars, and provide them with full access to all their research and studies without any charge. XM offers a range of community service activities in diverse areas such as health, education, research and development, and environmental protection programs.
XM focus on investing in financial technology to provide the best possible solutions. They depend mainly on the MT4 and MT5 platforms. These platforms are the most popular around the world, and have the accuracy of performance, the speed of implementation and the ease of dealing with them. In addition, technical errors almost does not exists. These platforms are also available on the web without having to download the app.
XM also offer the possibility of trading through smartphones depending on the platforms MT4 and MT5, and allows traders to be able to trade anytime, anywhere. Through smartphones trading, the trader can execute orders, modify them, control charts and use technical indicators, in addition to follow up on all the latest market developments at any time.
The broker offer their clients a group of services that made them among the most preferred for millions of traders, these services include:
- Free VBS service, which provides automated trading anytime, anywhere at high speed without any errors.
- Offer customers loyalty programs, where they get a sum of money for traders who register through them and also receive part of their profits.
Things to Improve
XM offer their clients perfect services, but the needs of customers are renewable, by nature, for this reason, there have been some claims and suggestions including:
- Allow cryptocurrency to be traded again after it has been blocked.
- Some traders complained of high spreads during overnight trading.
XM welcomed these suggestions and said they were willing to do anything that would satisfy their clients and provide them with the ideal trading environment. As for the high spreads at night, they said that the reason is related to the low liquidity at such times as the market movement is very slow due to lack of traders during these times.
To Sum Up
After our deep review, we can say, away from being biased, that XM have all the features that make them an ideal environment for those who want to trade, they pay great attention to their customers and provide them with many distinctive services.
We recommend you to visit the broker’s website to get to know them closely or to open a demo account to see the nature of their trading.