XM Review 2022 – is XM Forex Broker Scam or Legit Broker
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“Must Read” Pros and Cons Uncovered Is XM group safe for you?
XM Group is considered average-risk, with an overall Trust Score of 83 out of 99. XM Group is not publicly traded and does not operate a bank. XM Group is authorized by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). XM Group is authorized by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), and the Financial Conduct Authority (FCA). Learn more about Trust Score.
Trading Point Holding, XM’s parent company, is a global CFD and FX broker founded in 2009. Trading Point Holding has two brands, XM and Trading.com.
XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC).
Trading.com was launched in 2019 and is available only for EEA residents, except those living in Belgium, Cyprus, Greece and Switzerland. Trading.com is regulated by the UK’s Financial Conduct Authority (FCA).
In this review, we focus on the XM brand.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.10% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Risk warnings are shown on the website but they are unclear on percentages
XM pros and cons
XM has low CFD and withdrawal fees. Account opening is user-friendly and fast. You can use many educational tools such as webinars or a demo account.
On the other hand, XM has a limited product portfolio as it only offers CFDs, forex and cryptos for European clients. Its forex fees are average, and an inactivity fee kicks in after 90 days of no trading.
XM main features and highlights
🗺️ Country of regulation Cyprus, Australia, Belize
💰 Trading fees class Low
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $0
💰 Minimum deposit $5
🕖 Time to open an account 1 day
💳 Deposit with credit/debit card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 11
🎮 Demo account provided Yes
🛍️ Products offered Stock, Forex, CFD, Crypto
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