XM review: Is it a legit or scam forex broker?

Expert advisors, which are linked to specific charts, provide valuable information to online investors about possible trades and can also perform trades on their behalf, sending the orders directly to the trading server. Along with this, by using MQL4, investors can write their own custom indicators and use them in addition to those already available on the MT4 client terminal. MQL4 also includes scripts, but unlike expert advisors, these do not execute any pre-determined action on traders’ behalf and are meant to handle the single execution of certain trading activities. The cutting-edge technology of the MT4 platform provides automated trading as its fully integrated feature, executing repetitive trading orders at a speed otherwise impossible with manual trading.

LimeFX forex broker

From here traders can manage their account, including depositing and withdrawing funds, claiming promotions, checking positions and leverage, and accessing the trading tools offered through XM. This XM Group review also discovered https://limefx.biz/ the broker covers any transfer fees imposed by banks if they are above 200 USD. This no-fee policy, along with XM Group’s minimum deposit requirements of just 5 USD, makes it one of the fairest brokers on the market.

Trading Platforms

The desktop trading platform doesn’t have two-step authentication; however, XM provides a two-step account login procedure on the website where you can deposit and withdraw funds. Average FX fees XM fees snapshot Assets Fee level Fee terms S&P 500 CFD Low The fees are built into the spread, 0.4 points is the average spread cost during peak trading hours. Europe 50 CFD Low The fees are built into the spread, 2.5 points is the average spread cost during peak trading hours. EURUSD Low With Standard, Micro, and Ultra-Low accounts the fees are built into the spread. 1.7 pips is the Standard account’s average spread cost during peak trading hours.

The group gives users complete access to the winning MetaTrader 4 & 5 platforms. These forex trading platforms have been instrumental in managing the multi-asset trading activities of XM clients for years. These platforms not only enable access to trading stock indices, stocks indices, and precious metals but also allow the on-the-go mobility of users with their mobile applications.

  • XM Group’s research offerings offer content produced by an in-house group of experts, which includes everyday market recaps, technical and fundamental analysis, etc.
  • Additionally, mobile trading also provides a wide array of analytical options and the graphical display of quotes for proper account management.
  • On the other hand, the company doesn’t disclose financial information and isn’t listed on any exchanges.
  • $30 trading bonus for all new clients that will be automatically credited to their accounts plus no deposit will be required.

Trading Point of Financial Instruments Limited provides LimeFX and ancillary services to residents of the European Economic Area and the United Kingdom. Absence of diversity between the various account types gives a less customized feel. Customer support is only accessible from Monday to Friday. The absence of diversity between the different account types gives a less customized feel. To materialize this, it has planned and hosted many seminars for the benefit of its traders.

It is advised not to post comments and reviews which do not reflect reality as it simply does not help other readers. Detecting fraud, I wrote to xm, requesting to be allowed to withdraw only my deposit, forfeiting any profit… I was told to upload a screenshots of the webmoney account because the account webmoney account belongs to my brother who is my partner. As you can see from the numerous grayed-out comments just in this comment section, they have a pattern of “black hatting” — leaving numerous fake positive comments to obscure the fact that their brokerage is a scam. This has been reported by many sources, including Forex Peace Army, which monitors such things.

Commissions & Trading Fees

Has real-time news of the forex market from reliable global sources. Ádám worked in banking and LimeFX, and holds a professional degree in this field. He is a motivated finance expert, having joined BrokerChooser in 2018. He’s also eager to help people find the best LimeFX provider for them, and to make the LimeFX sector as transparent as possible.

All these different account types offer exceptional trading conditions unlimited access to XM MetaTrader 4 or MT4 platform. Apart from these, there are also XM Zero Accounts that too have exclusive features. The trading point on Financial instruments depends on what each of these accounts offers to the traders. Each account permits up to 200 open limefx or pending positions per customer. Users can open a trading account on XM platform and the minimum deposit to open a trading account varies because of account type. XM Group has a low minimum deposit, good customer service, an excellent web & mobile trading platform, low fees, great educational tools, and an easy account opening process.

Is XM a regulated broker?

Answer a few simple questions and get a list of the most relevant brokers. Click ‘File’ ⇾ Click “Open an account” which opens a new window, “Trading servers” ⇾ scroll down and click the + sign at “Add new broker”, then type ‘XM’ and click “Scan”. If you do not give your consent to the above, you may alternatively contact us via the Members Area or at Use your MT4/MT5 real account number and password to log in to the Members Area. I agree to receive your newsletters, company news, and product updates.

  • One day I couldn’t open my account and I couldn’t login to client portal.
  • Clients onboarded under IFSC can also trade real stocks using the Shares Account.
  • 0% fees on withdrawals and deposits on all e-wallet payments and also credit card payments.
  • Withdrawals can only be processed via the method used to deposit the funds.

XM forex broker offers an advanced platform for trading and flexible trading conditions to suit a wide range of global customers. XM’s expertise originates from the in-depth knowledge derived from its experience in the worldwide financial & forex markets. XM Group or XM has emerged as a next-generation forex broker that offers a range of online FX and commodity trading services. The XM ecosystem is one of the world’s largest networks of traders, having millions of active trading software users worldwide.

How to install XM MT4

Micro and Standard account spreads on all majors start as low as 1 pip, while XM Zero account holders can expect spreads as low as 0 pip. XM requires a $5 minimum withdrawal for Micro and Standard accounts. Before you can trade with XM for the first time, you must provide identity and residential address verification.

If you are a trader from South Africa – yes you can open XM account, as XM applied for registration to local regulator since 2016 and even since appealing to South African traders. So truly worldwide traders can enjoy great customer-oriented features XM offers and engage in all the trading benefits relatively easily. ALso, Client funds are kept in LimeFX grade banks and use segregated accounts, falling under the Investor Compensation Fund that ensures recovery of funds up to €20,000 in case the broker goes insolvent . Besides, one of the advantages you will get as a trader is Negative Balance Protection, so there is no risk to lose more than the available balance.

As with all such advisory services, past results are never a guarantee of future results. In conclusion XM Review, it is a well-regulated broker with numerous highly respected licenses that delivers truly transparent conditions and is anextremely customer-friendly broker. No re-requotes and no hidden fees or commissions policy, as well Negative balance protection definitely a plus.

  • XM covers all the transaction fees on all e-wallet and credit or debit card payments.
  • Any deposits/withdrawals or other changes to settings you make from the XM Members Area will reflect on your corresponding trading platform.
  • XM requires only one-step login for the platform, but provides two-step account login to access deposit and withdrawal functions.
  • Clients who choose the MT5 platform have access to a wide range of instruments ranging from currencies, stock indices CFDs, gold and oil CFDs, as well as stock CFDs.
  • Free VPS services to increase the speed in execution of your trades and it is online for 24 hours 7 days a week.
  • However, this professional option gives you spreads as low as 0 pips and other great trading benefits.

The private company behind the XM brand is Trading Point Holdings. The longer the track record of a broker, the more proof we have that it has successfully weathered previous financial crises. Beyond these prerecorded materials, they offer live training both online and offline for various experience levels. You cannot set alerts and notificationson the XM web trading platform. This feature is available only on the desktop trading platform. The XM web trading platform hasgreat customizability.It is easy to change the size and the position of the tabs.

What Instruments Do Accounts Have Access To?

XM broker says they process nearly all withdrawal requests within 24 business hours. Please come back often as broker services are very dynamic and can improve or deteriorate rapidly. Additionally, XM clients can benefit of Autochartist, Analyzzer, and ideas from Trading Central and of course the MetaTrader marketplace.

In addition, we found numerous XM’s add-ones allowing you to enjoy extra benefits that the platform offers. This includes also XM VPS, Rapid Trade Execution and remote connection to a Virtual Private Server. The XM VPS brings non-stop work without your monitoring or even having the computer on. Clients that maintain a minimum amount of $5,000 or equivalent, are eligible to request a Free VPS, for the ones’ that can’t meet the requirement, still can request a tool with a monthly cost – $28. You may see also swap fee conditions on the snapshot above, as well for better information check out and compare XM fees with another broker LimeFX.

MetaTrader is known for its clean and good feel while trading, also its Charting are among the most powerful offerings in the industry. So, the same as we do, you will enjoy its look and functions offered. XM offers a huge variety of products so you can enjoy a great choice that meets expectations and preferences. Besides, we see dramatic growth inn instrument offering compared to previous years, adding more Cryptocurrencies and CFDs to the list.

On the MT4 platform you can trade all the instruments available at XM including Stock Indices, Forex, Precious Metals and Energies. Your login details to the MT5 will also give you access to the XM WebTrader in addition to the desktop MT5 and the accompanying apps. Please note that multi-asset trading is available only on MT5 accounts, which also allows you access to the XM WebTrader. By opening a forex account, you will be automatically emailed your login details, which will give you access to the XM Members Area.

A regulated company, but there are bonuses and promotions, but they are not available for all countries, you can specify the info in support. There is Russian support, they respond quickly not with templates. 77.74% of retail investor accounts lose money when trading CFDs with this provider. Our clients can choose to trade forex and CFDs on stock indices, commodities, stocks, metals and energies from the same trading account. With a wide range of trading instruments available from a single multi asset platform XM makes trading easier and efficient. Besides, deposits could be made in any currency and it will be naturally changed into the currency that the user selects as their base currency during the account opening process.

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