What is XM Floor? Is it reputable? XM broker review 2024

What is XM Floor? Is the floor reputable? How to open this account? If so, please join us in answering each answer one by one through the article below!

What is XM Stock Exchange?

XM was launched in 2009 in Cyprus and is known as a major and well-known Forex exchange with over 10 million users from many different countries. This website is owned by XM Group - Trading Point Holdings Ltd and managed by XM Global Limited. Currently, XM has a presence in over 120 cities in countries around the world.

Over many years of building and developing its brand, based on the MT4 and MT5 platforms providing products such as Forex, CFDs, Stocks as well as leading market tools to double profits for investors, XM has increasingly affirmed its position and become a leading international investment company.

General overview of the XM Exchange

==>>Access XM floor here <<==

XM Trading Exchange Scam or Trustworthy?

In any trading and in this case trading involving money, everyone looks for security when doing so. And this can be demonstrated through the credibility of an organization. Specifically here, a trustworthy organization is one that does not engage in any unlawful acts. And the operating license is the permit allowing this XM trading exchange to operate legally. With some places where XM is present, it will be granted a legal operating license issued by the financial authorities there. Some documents that can be mentioned include:

• XM Global Limited is licensed by the Financial Services Commission - FSC in Belize (license no. 000261/397).
• Trading Point of Financial Instruments Ltd is licensed by CySEC - Cyprus Securities and Exchange Commission (license no. 120/10).
• Trading Point of Financial Instruments Pty Limited is licensed by ASIC - Australian Securities and Investments Commission (license no. 443670).
• Trading Point MENA Limited is licensed by DFSA - Dubai Financial Services Authority with license no. F003484.
• Trading Point of Financial Instruments UK Ltd (XM UK) is authorized and regulated in the UK by the Financial Conduct Authority.

These are fully licensed based on proper assessments to grant them. So XM can be said to be a safe place for people to trade with peace of mind.

Client Fund Protection Policy

And the final thing in measuring XM's credibility is examining their client fund protection policy. Specifically here, customers and their assets are always top priority such as:

Rather than pooling with company money, all funds belonging to XM exchange customers are fully segregated in accounts with reputable banks. And it is completely separate from the company's capital. XM will not use customer capital for risk buffer funds or any other purposes.

All audits at XM are carried out by independent auditing firms, with complete transparency.

All XM customers are also supported by negative balance protection. XM always ensures its customers will never lose more than the amount in their account.

Security and Privacy Policy

Until now, XM has not recorded any negative feedback from customers regarding security. This is understandable because XM must go through the stringent requirements and have high standards for information security of major organizations like CySEC, IFSC, FSC, ASIC to be recognized, so its credibility also ranks top in the forex market.

In addition, XM has established clear policies, business terms with legitimate investment categories, products and customer trading accounts are well protected with strong two-factor security technology, so you can feel completely at ease when trading.

XM broker review - XM Awards

Another proof of XM's credibility is the major awards the platform has achieved over the years. This demonstrates that XM has passed the strictest evaluations in the industry.

Some of the typical awards over the years include:

2015:

• Outstanding Broker of the Year
• Best Financial Trading Platform & Forex of 2015
• Best FX Technology Provider

2016:

• Best Forex and Precious Metals Broker
• Fastest Growing Broker in the Middle East Region
• Outstanding Broker of 2016

2017:

• Best FX Broker Europe
• Best FX Order Execution & Trading Support
• Best FX Services Provider 2017
• Best Market Research & Training

2018:

• Best FX Broker Europe 2018
• Best Forex Customer Service 2018

2019:

• Best FX Broker Oceania & Europe 2019
• Most Trusted Forex Broker Asia
• Fastest Growing Broker 2019
• Best FX Services Provider
• Best Global Market Research and Training

2020:

• Best FX Broker Oceania & Europe
• Best Global Online CFD & FX Broker
• Most Transparent and Trusted Global Broker
• Best FX Services Provider 2020
• Best Global Customer Service Broker

2021:

• Best Retail Forex Broker
• Top 10 Most Popular & Famous Brokers of 2021
• Best FX Broker Oceania & Europe
• Forex Broker of the Year
• Most Trusted and Transparent Global Broker
• Best Trading Experience
• Best FX Services Provider
• Best FX Training Broker Middle East - North Africa Region

2022:

• Best CFD Broker Middle East - North Africa
• Best Swap-Free Account
• Forex Broker of the Year
• Best FX Broker
• Best Crypto CFDs
• Best FX Services Provider

2023:

• Best CFD Provider 2023
• Best 2023 Forex Broker in Middle East by World Finance Forex, Latin America by World Finance Forex, Oceania by World Finance Forex, Europe by World Finance Forex, Global by World Finance Forex.

Customer Service

XM provides 24/7 forex trading customer support through various forms: chat, email, phone, etc. And even though it is an international platform, XM has a dedicated Vietnamese-speaking customer support team, so investors can feel assured that any questions will be answered without any language barriers.

Online

• Operating Hours: 24/7
• Email: [email protected]

Phone

• Operating Hours: 24/7
• +501 223-6696
• +501 227-9421

XM also regularly organizes webinars for investors, held annually in many different countries via online platforms, with the participation of veteran traders sharing experiences and guidance to take the right steps for quick profits in the short term.

XM's Products and Services

The XM platform provides a diverse investment portfolio of trading products that meet the needs of different types of investors.

Here is an overview of these products:

• Forex: Forex trading is XM's core product. You can trade major currency pairs like EUR/USD, USD/JPY, GBP/USD and many others.
• CFDs: Includes futures contracts and options on stock indices, commodities, and other financial assets.
• Commodities: Trade futures contracts on commodities like gold, silver, crude oil, natural gas.
• Stock Indices: Trade CFDs on major global stock indices like S&P 500, Dow Jones, FTSE 100, DAX 30.
• Precious Metals: Trade CFDs on precious metals like gold, silver, platinum, palladium.
• Oil and Natural Gas: Trade CFDs on futures contracts of crude oil and natural gas.
• Stocks: Trade CFDs on stocks of major global companies.
• Digital Currencies: XM has expanded its portfolio to include popular crypto pairs like Bitcoin, Ethereum.
• Turbo Shares: A derivative product that allows you to trade stock price fluctuations with high leverage.
• Sector Indices (NEW): Trade CFDs on specific sector indices to focus your investments into industries you're interested in.

XM Trading Platform

Currently, when customers trade on the XM platform, they will trade on two popular platforms called MT4 and MT5. These are not proprietary trading platforms of XM, but rather widely used trading platforms today. Customers can easily access them via both phone, PC and MacBook as well.

XM provides a variety of trading platforms to meet the needs of different customer groups, from beginners to professional investors. These platforms are designed with friendly, easy-to-use interfaces and integrate many useful analytical tools.

The main trading platforms of XM are:

• MetaTrader 4 (MT4): This is the most popular forex trading platform in the world, trusted by many investors. MT4 provides a visual interface that is easy to use, along with a host of technical and fundamental analysis tools.
• MetaTrader 5 (MT5): An upgraded version of MT4, MT5 offers more modern features such as multi-asset trading, enhanced market depth and more advanced analytical tools.
• XM WebTrader: An online trading platform that allows you to access your trading account through a web browser without having to install any software.
• Mobile Apps: XM provides trading apps for both iOS and Android operating systems, allowing you to trade anytime, anywhere.

XM Account Types

Regarding the types of accounts available on XM, currently it offers users 4 different trading account types. Depending on the type of participant in trading, they will be suitable for each different account type.

However, on XM, no matter which asset type you register and use, you will also be supported and facilitated with the best possible quality by XM. Details are shown in the table below:

XM Leverage and Trading Fees

In terms of fees, XM is currently one of the platforms with the lowest fees in the market, specifically:

• Spread difference fee level: Minimum of 0.8 pips.
• Deposit and withdrawal fees: Free of charge.
• Commission fees: No fees charged for almost all accounts, except share accounts.

In terms of leverage, the maximum is 1: 1000. Share accounts will not have leverage. Other account types are as follows:

• For deposits from $5 to $40,000: Maximum leverage 1: 1000.
• For deposits from $40,001 to $80,000: Maximum leverage is 1: 500.
• For deposits from $80,001 to $200,000: Maximum leverage is 1: 200.
• For deposits over $200,001: Maximum leverage is 1: 100.

Deposit - Withdrawal on XM Trading Platform

In addition to issues such as credibility, transaction fees, the method and time to complete deposits and withdrawals on XM are also of great interest to investors. Evaluating the credibility of a trading platform like XM through deposit and withdrawal methods is a reasonable approach. Because this directly relates to managing the investor's assets, it reflects the level of professionalism, transparency and safety provided by the trading platform.

Deposit/Withdrawal Methods

Deposits or withdrawals can be made through:

• Domestic and international bank transfers;
• Credit or debit card deposits;
• Through e-wallets like Skrill, Neteller, Momo, etc.

Deposit/Withdrawal Time

All transactions on XM are fast, including deposit/withdrawal time.

Only bank transfers will be processed within 24 hours of clicking the approve button. All other deposit methods are processed immediately.

Withdrawals will be processed within 24 hours of request. Depending on the receipt method, funds can return to your account at different timeframes. If withdrawing to an e-wallet, you can receive funds on the same day. For bank/credit card/debit card, investors generally receive funds within 2-5 days.

Deposit/Withdrawal Fees

XM trading platform does not charge any deposit or withdrawal fees. If customers deposit or withdraw via e-wallets, international bank transfers, credit or debit cards, they must bear the fees set by those providers. And if the deposit amount is over $200 or equivalent, XM will cover this fee and credit the investor's account.

XM Promotion and Reward Programs

As big as it is, XM still needs further development and expansion. And to attract more members to participate, XM has continuously launched attractive promotion programs and benefits not only for new customers but also for existing customers to retain them.

Some notable promotion programs include:

• Get 20%-50% of the deposit amount immediately credited to your real account. Bonus amounts can be up to $5,000 and apply even with $5 deposits
• Win cash prizes up to $130,000 by competing with demo or real accounts
• Refer a friend and get $150
• At certain times of the year XM will offer special seasonal bonus promotions
• Free VPS to optimize trading efficiency

So in summary, XM provides various incentive programs like matching deposits, referral bonuses, demo account competitions and seasonal promotions to attract new investors while rewarding loyal customers. These ongoing promotions and rewards demonstrate XM's commitment to growth and customer satisfaction.

Should You Trade on the XM Platform?

Any organization established and developed over time will have both advantages and disadvantages. Here is the analysis of XM:

Advantages:

• Has extremely reputable operating licenses
• Offers a variety of different trading products
• Has many account types suitable for different investor needs
• Does not charge commissions except for Share accounts
• No deposit/withdrawal fees and various convenient deposit/withdrawal methods
• Many attractive and ongoing promotion programs

Disadvantages:

• No support for PayPal deposits/withdrawals
• Risk of leverage

In summary, XM is a reputable and credible trading platform. The products and services provided are very diverse and the trading experience is easy. As a well-known name in the forex market, XM is not a terrible choice to participate in trading. Just be aware of leverage risks as with any platform.

For new or experienced investors looking for a regulated broker, XM's market reputation, variety of account types and ongoing promotions make it a respectable consideration. Of course, do your own research as with any company before investing.

Frequently Asked Questions about the XM Trading Platform

1. Which country is XM from?

XM was established by Trading Point Holdings Ltd, headquartered at 404, The Matalon, Coney Drive, Belize City, Belize - a country in Central America.

2. Is XM a scam or reputable?

Established in 2009, over 14 years of operation and development, XM has proven its credibility by owning licenses from many reputable financial authorities worldwide: ASIC, CySEC, FSC, DFSA. Not only that, the platform has also excelled in winning major awards in the industry and has 10 million customers from 190 countries.

3. What is the minimum deposit required on XM?

XM requires a minimum deposit of $5 for all accounts. Share accounts specifically require a minimum of $10,000.

4. Can I open a no-deposit demo account for practice trading?

Yes. You can open a demo account on XM to familiarize yourself and practice trading before opening a real account. And XM will give you $100,000 in virtual funds to learn trading strategies before opening a live account.

5. How many accounts can I open on XM?

On XM, you can create a maximum of 8 trading accounts and 1 Shares account. However, you should use the same personal details for all accounts.

6. What currencies can I deposit on XM?

You can deposit funds into your XM account in any currency and it will automatically convert to your account's base currency.

See also:

• Verify XM account - How to download account verification documents
• XM Affiliate Guide: Boost Your Income Online

With all the detailed information about the XM trading platform provided from the beginning of this article, I hope it will help you in important future decisions. XM is a popular broker with many users. But don't be complacent - always do your research, especially for investing and forex trading activities on platforms like XM. Caution is never excessive in this field.