XM Trading is probably the most famous Forex company in the world today. Although the spread is a little wide, the safety is guaranteed by adopting a zero cut. Leverage is up to 888 times and the required margin is about 1 yen. We also offer an account opening bonus and a 100% deposit bonus. The world’s largest international exchange operated by Tradexfin Limited, with services in 196 countries around the world.
XM (XMTrading) is an overseas Forex brand operated by Tradexfin Limited. The FX trading service was launched in 2009 and is one of the most popular in the world.
|Operating company name||Tradexfin Limited|
|Headquarters location||1F20, 1st floor, Eden Plaza, Eden Island, Seychelles|
|Business start date||2009|
|number of employees||Over 200 people|
A financial license is issued by the financial authorities of the country and is a permit for conducting a financial business. Without this, you cannot carry out business activities. The countries with strict examination standards in the world are said to be the United Kingdom and Cyprus. The UK Financial Conduct Authority (FCA) has very strict not only license acquisition but also maintenance standards, such as having to compensate up to £ 85,000 per person in the event of a Forex trader’s bankruptcy. The Cyprus Securities and Exchange Commission (CySec) is said to be the second highest screening country after the United Kingdom. So is XM licensed?
|XM Group Company||Acquisition license||location|
|Financial Instruments LimitedのTrading Point||Cyprus Securities and Exchange Commission||Cyprus|
|XM Global Limited||International Financial Services Commission (IFSC)||Belize|
|Financial Instruments UK Limited||Financial Conduct Authority(FCA)||England|
|Financial Instruments Pty Ltd||Australian Securities and Investment Commission (AFSL)||Australia|
|Trading Point MENA Limited||Dubai Financial Services Agency (DFSA)||UAE|
|Tradexfin Limited||Seychelles Financial Services Agency||Seychelles|
There are two services, support email and live chat.
- Support emails can be received 24 hours a day, 365 days a year.
- They can reply only from Monday to Friday. Live chat is available from 9am to 5pm, Monday-Friday.
Live chat is recommended if you are in a hurry, and email is recommended at any time.
One thing to note is that XM Trading does not have telephone support.
It is available in 24 languages and is more fulfilling than other vendors such as Gem Forex. You can trade with confidence no matter where you are in the world. Below is a list of supported languages.
There is a zero cut service for XM Trading. Zero cut is a mechanism that “even if the margin balance becomes negative, it is a service that compensates to zero”. In other words, you will never lose more than your money. Whether it is minus 100 yen or minus 1 million yen, it will be zero.
There are the following withdrawal methods for XM Trading.
- Domestic bank remittance
- Credit / debit card
- Convenience store deposit
However, note from here that the only way to withdraw “profit” is by bank transfer. I think that the purpose of using XM is to make profits with FX, but for profits, there is virtually only one type of withdrawal method for XM, bank transfer.
However, with XM, you can receive a “bonus” when opening an account or making a deposit, but you cannot withdraw this bonus.
When you apply for withdrawal, it will take 2-5 business days for the money to be actually transferred to your account.
With XM Trading, there are five deposit methods: The reflection time varies depending on the deposit method.
- Bank remittance
- Credit / debit card
For bank deposits, the funds will be reflected in the XM trading account within 30 minutes to 1 hour.
For credit / debit cards, the funds will be reflected in the XM trading account in real time 24 hours a day, 365 days a year after the deposit procedure. There is no deposit fee.
There is no deposit fee for bitwallet, an online wallet. If you deposit with bitwallet, the funds will be reflected in your XM trading account in real time 24 hours a day, 365 days a year after the deposit procedure.
There is no deposit fee for STICPAY. When depositing with STICPAY, the funds will be reflected in the XM trading account in real time 24 hours a day, 365 days a year after the deposit procedure.
There is no deposit fee for BXONE. If you make a deposit with BXONE, the funds will be reflected in your XM trading account in real time 24 hours a day, 365 days a year after the deposit procedure.
XM Trading is divided into several accounts according to each trader’s preference. You can choose your favorite type. The differences are summarized in a table.
|item||Micro account||Standard account||Zero account|
|Maximum trading volume||100||50||50|
|Minimum trading volume||0.01(MT4)|
|Minimum deposit (dollars)||5||5||100|
|Transaction fee ($)||None||None||5|
|Number of FX currency pairs||57||57||56|
|Precious metal trading||4||4||2|
XM Trading supports the following currency pairs.
Other companies are good for scalping trade
If scalping trade is the main thing, Tradeview and Axiory are better. Because the spread is very narrow. For those who aim for shorts with trend-following strategies and day trading, XM will be fine. XM has a slightly wider spread and is wider than Gem Forex.
EA is at your own risk
XM can also be bought and sold automatically. You can use it, but if there is a one-sided trend, the unrealized loss will be large and all the principal will often fly away. Although it is your responsibility to invest in general, please be aware that EA trades can fail in one trend even if the winning percentage exceeds 90%.
Low risk, low return for beginners
Beginners should not be familiar with Forex yet, so start trading with a small number of lots. If you have one position and one lot, you will not suddenly go bankrupt. Let’s start low risk and low return.
Whether or not withdrawal is refused
It will be the most worrisome place for traders who actually trade. There is no Forex company that refuses to deposit, but I am wondering if I can really withdraw when I can make a profit. What about XM, as some companies run away at worst? The patterns of withdrawal refusals from past cases are summarized below.
|Bonuses cannot be withdrawn||The bonus you get with XM is just a boost when you make a transaction and you cannot withdraw.|
|The bonus disappears when you withdraw||The bonus is given at the time of deposit, but it is a mechanism that disappears withdrawal.|
|If you do a forbidden double-decker||XM is prohibited by having both a buy position and a sell position at the same time. You will be subject to withdrawal refusal.|
|When making an arbitrage transaction||Arbitrage is a comparison of two products with the same characteristics, and price differences may occur due to differences in time and place. XM is prohibited. You will be subject to withdrawal refusal.|
|Withdrawals to banks that do not have a SWIFT code registered||You cannot withdraw because XM cannot be recognized.|
|Withdrawals at banks that do not support overseas bank remittances||You cannot withdraw because XM cannot be recognized.|
|Withdrawal is not possible for transactions without a deposit history||Withdrawals can only be made with a withdrawal method that has a deposit history. It is said to prevent money laundering. You will be subject to withdrawal refusal.|
|Only overseas bank remittances can be withdrawn beyond the deposit amount||In the case of XM, the only way to withdraw more than the deposit amount is to use bank transfer. You will be subject to withdrawal refusal.|
|Withdrawals cannot be made unless the margin maintenance rate is 150% or higher.||At XM, the margin maintenance rate after withdrawal must be 150% or more. You will be subject to withdrawal refusal.|