XM review | About reputation and safety

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First of all, if you explain about "XMTrading", it can be said that "Because the customer is analyzed very well and the product development is done, the total power is comparable to the domestic supplier" .

There are a large number of trader users, and their popularity is due to the following characteristics.

Good

  • Leverage up to 888 times, required margin from about 1 yen
  • Adoption of highly transparent NDD method and high execution rate
  • Receive 100% deposit bonus and expensive cash back
  • Support, seminars and information services
  • We have a good support for beginners
  • Corporate safety is very high
  • We adopt zero cut system

Bad

  • Higher transaction costs
  • There are few swaps

If you are going to start Forex, I would recommend XM anyway. It is a popular contractor with high safety and reliability.

XM's official site is here

XM safety

Financial license acquired by the Seychelles Financial Agency

Operating company
(location)
Trading Point Seychelles Ltd
(Seychelles)
Representative unknown
Financial license Seychelles Financial Agency
Establishment 2009
Capital unknown

First of all, about important "corporate safety".

Founded in 2009, Trading Point (Seychelles) Limited, which operates XM, has acquired a securities dealer license at its headquarters in Seychelles .

The securities dealer license holder is obligated to meet strict financial requirements and is required by law to hold sufficient liquid capital to fund customer deposits, potential changes in the company's currency position and other unpaid expenses. It is done.

If the annual audit finds a shortage, the internal audit corporation will report all details to the authorities.

In other words, because XM is under external control and supervision to ensure safe operation, it can be said that the reliability and safety as a company are very high like a Forex company .

 

Client assets segregated + guaranteed up to $ 1 million

What is particularly worrying about using a vendor, if the vendor goes bankrupt, what happens to the funds deposited in the account?

If it is a domestic company, customer assets are fully refunded because trust maintenance is obligated.

XM does not have this trust protection.

However, customer deposits are clearly segregated from the funds of XM at Barclays Bank of the United Kingdom, and in the unlikely event that XM fails, they will not be used for repayment.

In addition, AIG (American International Group) insurance is covered, so the customer's money is covered up to $ 1 million .

In other words, in XM, it is possible to receive a guarantee close to the contractor who has introduced the trust preservation scheme in practice.

 

XM reviews

Next, let's look at some of the word of mouth and reputation for XM.

About the reliability of word of mouth, reputation

Among the troubled traders and bad reputation traders, support is provided for “frauded traders who failed”, “lossy traders”, “traders who want to clear up the mess”, “the traders who are willing to keep the rules” Please note that some traders are not eligible.

Evaluation is FPA  First of all

"FPA (Forex Peace Army)" is a bulletin board only. The rates, posted content, and “SCAM” certification of the watched vendor are not guaranteed at all.

The largest Forex bulletin board "FPA(Forex Peace Army)" is rated "", It is a fair evaluation.

However, when I asked for comments, there were also claims such as "people with certain nationalities can not trade, or are not eligible for transaction bonus."

 

Feature, merit and demerit of XM

micro Standard Zero
Transaction cost Account opening
maintenance fee
free※
Transaction fee free One way $ 5
(per 100,000 currency)
Spread Variable system
Terms and conditions Transaction form NDD STP NDD ECN
Leverage 888 500
Currency pair 57
Minimum
transaction unit
MT4:10(0.01Lot)
MT5:100(0.1Lot)
1,000(0.01Lot)
Maximum trading volume
(per order)
100,000(100Lot) 5,000,000(50Lot)
How to order One click, market, limit, stop
IFD · OCO, IFO
Double house
Trading tool PC MT4、MT5(Windows・Mac)
Smartphone MT4、MT5(iOS・Android)
Money management Margin call 50%
Loss cut 20%
Zero cut
Deposits and withdrawals Deposit fee free
Withdrawal fee
Asset protection Separation management
Trust maintenance
(Adopt AIG insurance)
support Call center
Email support
Live chat
Other
Demo account

※For dormant accounts without transactions for 90 consecutive days, a fee of $ 5 a month or an account with a balance of less than $ 5 is deducted as a fee for the entire balance. There is no fee if the account balance is zero.

 

Necessary margin from 1 cent! However, transaction costs are expensive

There are three types of XM accounts: "Micro", "Standard" and "Zero".

The transaction format is NDD, which is highly transparent.

It sells high execution power such as "No requoting, no rejection of trade", "100% of trade rate", and "Slows 99.35% of all orders in less than 1 second" .

Leverage is up to 888 times for micro standard accounts and up to 500 times for Zero accounts.

As 1Lot is 1,000 currencies, micro account can be traded from 10 currencies (0.01Lot) with MT4.

That is, in the case of USD / JPY, if the leverage is 888 times, the minimum required margin is about 1 yen .

The transaction cost is only the transaction fee generated by the Zero account and the variable spread, and the nature differs depending on the type of account.

Micro standard accounts have wide spreads and transaction fees are free .

The spread on the Zero account is fairly narrow , but there is a $ 5 one-way transaction fee per 100,000 currency, so it is not a good deal in terms of overall transaction costs.

Swap points are not suitable for long-term trading because they have many negative swaps and small grants .

 

Enhanced support and bonus system

XM is attractive when you open an account, make a deposit, make a transaction, and get a big transaction bonus for each .

Users are likely to be relatively newcomers who made Forex debut for trading bonus.

It can be said that it is easy for a beginner who has been benefited from the surface to make a deal with high leverage, and a pattern of losing funds in an instant .

The loss cut rate is a general margin maintenance rate of 20% among vendors, so it is an immediate loss cut if you make an unreasonable trade.

As a zero cut system is adopted , there is no more loss than the account funds, but this may also be a factor that may lead to oversight and into unreasonable trade.

 

From opening of XM account to deposit and withdrawal

All you need is your ID and address confirmation

If you only need to open an account or deposit money, you do not need to submit documents.

However, to submit a withdrawal request, you need to upload the following identity verification documents from the member page.

It is meaningless if you can not withdraw, so if you can not prepare this identification document, you should not open an account or make a deposit.

This is a point that is likely to develop into trouble, so please be careful.

Identification documents

  • Identification card image
  • Image of address confirmation

Identification documents can use "passport, driver's license, my number card", address confirmation documents can use "bills such as latest utility charges that address was listed in, bank statement within the past six months".

The image format is "GIF · JPG · PNG · PDF".

Once the identity verification documents are prepared, visit the XM official site to open an account and upload required documents.

The procedure is very easy as follows.

Flow of account opening

Go from the official site TOP.

 

Enter basic personal information in Roman alphabet.

 

Trading platform type is selected from “MT4 / MT5”, and account type is selected from “Micro / Standard / Zero”.

 

Enter detailed personal information and nationality. Please enter your name in full-width kana notation and your address in romanized notation.

 

Basic currency is "Japanese yen, US dollar, euro", leverage is "1.2.3.5.10.15.20.25.50.66.100.300.400.500.888" Choose from and select "Yes" to receive an account bonus.

The leverage of Zero account is up to 500.

 

Enter the investment history and net worth.

 

⑦口座パスワードを小文字、大文字、数字を含めて設定してください。

 

Agree to the terms of service and email reception, etc., and then click the "Open Real Account" button.

 

If you click the link of the e-mail that arrives at the registered e-mail address, the account opening is complete.

 

Account ID will be sent by email. Click on the email link.

 

Enter your account ID and password (You can log in with your account ID and password for any of your account accounts).

 

Click on "Activate Account Now" on the member page TOP to activate the account and receive a transaction bonus of ¥ 3,000.

 

Enter and send your personal number. If you do not know please click on "Inform later".

XM requires all customers to present a taxpayer identification number, due to leverage restrictions in Europe.

 

Upload your ID and address verification documents. If there is a description item on the back side, uploading the front side once and uploading the back side again is OK.

 

Payment method is general, but payment can be made by domestic remittance

Method of deposit and withdrawal Fee
Deposit Credit debit card free※
Bank transfer Domestic
Overseas
Virtual currency Bitcoin
WEB money mybitwallet
Withdrawal Credit debit card
Bank transfer Overseas
Virtual currency Bitcoin
WEB money mybitwallet
i-Account

The minimum deposit amount is equivalent to $ 100 for the Zero account and $ 5 for the other accounts.

If the deposit amount for domestic bank remittance is less than 10,000 yen, the deposit service company will be deducted a fee of 1,500 yen for AsianCoin and 1,070 yen for Eprotection + 0.05% of deposit amount.

The remittance fee on mybitwallet will be borne by XM, so the full payment amount will be reflected in the account.

XM has a very rich deposit and withdrawal method.

Credit and debit cards, mybitwallet, are the most advantageous when considering fees and account reflection times.

+ Credit card payment system

First of all, credit card payment uses shopping limit.

Depositing to XM with a credit card means "making a debt to the card company" and "the balance of the XM account will increase by the same amount".

After that, if the withdrawal is made by the closing date of the card company, the card company's debt will be treated as "cancelled" depending on the withdrawal amount.

In the case of “payment amount <outgoing amount”, there is no request from the card company because the entire debt is “cancelled” .

Next, if the card company's closing date has passed after payment, a withdrawal will be executed once on the day the card company's designated withdrawal date.

After that, every time you withdraw the card company's shopping history will be "cancelled", so the card company will make a negative charge (refund) according to the amount ofwithdrawal .

In either case, the withdrawals above the credit card deposit amount will be transferred to the designated bank account as cash.

In the case of domestic bank remittance, the cost is only the transfer fee to "Resona Bank or Sumitomo Mitsui Banking Corporation" and the account reflection is also quick, so it is the payment method with the most users.

However, even if payment is made by domestic bank remittance, the withdrawal will be overseas bank remittance, so fees for relay financial institutions etc. will be incurred, and people with frequent withdrawals will cost considerably.

In addition, if the cash currency is different from the account currency, it is not recommended because it is automatically converted at the rate at the time of deposit and withdrawal and extra costs are incurred.

Previously, WEB money such as "NETELLER" and "Skrill" could also be used, but it is currently inactive and can be used instead with "i-Account". Yes.

The payment procedure is as follows (the withdrawal procedure is almost the same).

Procedure of payment

Go from the member page TOP.

 

Select a deposit method. The items displayed on the deposit menu change depending on the account type and whether or not activated. (Also with the withdrawal menu, the items displayed will differ depending on the payment method.)

 

+ Credit

Enter the deposit amount and press the "Payment button". After that, please enter your card information as it will transition to the screen for entering credit card / debit card information.

+ mybitwallet

Enter your mybitwallet account and deposit amount and press "Payment button". Then, log in to mybitwallet account from the bank website and proceed.

+ Bitcoin

Select Bitcoin wallet from BitPay, copay, etc. and enter the payment amount. Please put a check in 2 places and press the "payment button".

+ Domestic Remittance

Select a deposit service company from "AsianCoin" and "Eprotection".

Transfer the specified account displayed using net banking etc. (The above is for AsianCoin)

If the deposit amount is less than 10,000 yen, a fee of 1,500 yen for AsianCoin and 1,070 yen for Eprotection + 0.05% deposit amount will be deducted. Therefore, we do not recommend small-amount payment of 10,000 yen or less.

+ Overseas Remittance

Overseas bank transfers differ by designated currency depending on the designated bank account (the above case is for USD). Also, if you deposit more than US $ 200, all bank fees used by XM are free. For this reason, we do not recommend small deposits of up to $ 200.

 

XM Trading Terms and Rules

Currency pairs are generally 57 types

Currency pair
AUD/CAD EUR/NOK GBP/DKK USD/DKK AUD/JPY
AUD/CHF EUR/NZD GBP/NOK USD/HKD CAD/JPY
AUD/NZD EUR/PLN GBP/NZD USD/HUF CHF/JPY
AUD/USD EUR/RUB GBP/SEK USD/MXN EUR/JPY
CAD/CHF EUR/SEK GBP/SGD USD/NOK GBP/JPY
CHF/SGD EUR/SGD GBP/USD USD/PLN NZD/JPY
EUR/AUD EUR/TRY NZD/CAD USD/RUB SGD/JPY
EUR/CAD EUR/USD NZD/CHF USD/SEK USD/JPY
EUR/CHF EUR/ZAR NZD/SGD USD/SGD
EUR/DKK GBP/AUD NZD/USD USD/TRY
EUR/GBP GBP/CAD USD/CAD USD/ZAR
EUR/HKD GBP/CHF USD/CHF
EUR/HUF USD/CNH ※

There are 57 types of currency pairs, regardless of the type of account.

 

Total cost is considerably higher than other companies

Micro standard account

Currency pair Average spread
(pips)
Currency pair Average spread
(pips)
AUD/JPY 3 GBP/JPY 3.5
CAD/JPY 3.4 NZD/JPY 5
CHF/JPY 3.4 SGD/JPY 20
EUR/JPY 2.6 USD/JPY 1.6
AUD/CAD 3 GBP/DKK 49
AUD/CHF 3.5 GBP/NOK 80
AUD/NZD 4.5 GBP/NZD 8
AUD/USD 1.8 GBP/SEK 90
CAD/CHF 3.7 GBP/SGD 20
CHF/SGD 25 GBP/USD 2.3
EUR/AUD 3.8 NZD/CAD 4.5
EUR/CAD 3.5 NZD/CHF 5
EUR/CHF 2.9 NZD/SGD 20
EUR/DKK 23 NZD/USD 3.3
EUR/GBP 2 USD/CAD 2.1
EUR/HKD 33 USD/CHF 2.4
EUR/HUF 30 USD/CNH 30
EUR/NOK 69.7 USD/DKK 30
EUR/NZD 6.7 USD/HKD 28
EUR/PLN 47 USD/HUF 25
EUR/RUB 420 USD/MXN 110
EUR/SEK 55 USD/NOK 55
EUR/SGD 16.3 USD/PLN 35
EUR/TRY 20 USD/RUB 420
EUR/USD 1.6 USD/SEK 49
EUR/ZAR 130 USD/SGD 20
GBP/AUD 3.9 USD/TRY 18
GBP/CAD 5.2 USD/ZAR 110
GBP/CHF 4

 

Zero

Currency pair Average spread
(pips)
Currency pair Average spread
(pips)
AUD/JPY 0.6 GBP/JPY 0.9
CAD/JPY 1.1 NZD/JPY 1.2
CHF/JPY 1.5 SGD/JPY 5.7
EUR/JPY 0.6 USD/JPY 0.1
AUD/CAD 1.3 GBP/DKK 20
AUD/CHF 0.6 GBP/NOK 61
AUD/NZD 1.1 GBP/NZD 4
AUD/USD 0.4 GBP/SEK 47
CAD/CHF 1.4 GBP/SGD 13
CHF/SGD 2.8 GBP/USD 0.5
EUR/AUD 1 NZD/CAD 1.9
EUR/CAD 1.5 NZD/CHF 1.8
EUR/CHF 0.8 NZD/SGD 5
EUR/DKK 7 NZD/USD 0.8
EUR/GBP 0.8 USD/CAD 0.6
EUR/HKD 10 USD/CHF 0.5
EUR/HUF 18 USD/CNH
EUR/NOK 25 USD/DKK 7.9
EUR/NZD 2.2 USD/HKD 5
EUR/PLN 27 USD/HUF 14
EUR/RUB 280 USD/MXN 50
EUR/SEK 25 USD/NOK 28
EUR/SGD 9 USD/PLN 24
EUR/TRY 23 USD/RUB 290
EUR/USD 0.1 USD/SEK 24.9
EUR/ZAR 106 USD/SGD 6.5
GBP/AUD 2 USD/TRY 15
GBP/CAD 2.2 USD/ZAR 80
GBP/CHF 1.6

The above table is the average spread for each currency pair published in XM.

The spread on the micro standard account is wide transaction fee free , the spread on the Zero account is fairly narrow, but the transaction fee is $ 5 ( one lot = 100,000 currency) perway .

Compare actual spreads with other leading Forex vendors.

XM AXIORY titan FX iFOREX
Standard Zero Standard Nano Standard blade
USD/JPY 1.7 0.1 1.3 0.3 1.1 0.3 0.9
EUR/JPY 2.5 0.6 1.4 0.4 1.3 0.6 1.3
GBP/JPY 3.0 0.4 1.8 0.8 2.0 1.0 2.5
EUR/USD 1.8 0.2 1.2 0.2 1.2 0.2 0.9

Of these four spreads, XM's standard account (micro account) was the widest , and conversely, XM's Zero account was the narrowest and stable .

At first glance, you tend to think that a Zero account is more advantageous than other companies, but when calculated including the transaction fee (round-trip), the result is as follows.

XM AXIORY titan FX iFOREX
Standard Zero Standard Nano Standard blade
Transaction fee (one way) free $ 5 free $ 3 free $ 3.5 free
USD/JPY 170円 120円 130円 96円 110円 107円 90円
EUR/JPY 250円 170円 140円 106円 130円 137円 130円
GBP/JPY 300円 150円 180円 146円 200円 177円 250円
EUR/USD 180円 130円 120円 86円 120円 97円 90円

Transaction cost per 10,000 currency (spread cost + return fee). The transaction fee is displayed as the amount per 100,000 currency (one way).

Thus, regardless of the type of account, XM is the one with the highest transaction cost except for GBP / JPY.

 

Zero cut adopted, no additional certification

In XM, a margin call triggers with a 50% margin maintenance rate and a loss cut with a 20% margin maintenance rate .

In addition, since the zero cut system has been introduced, there will be no loss over the deposit amount.

Even if the loss cut is not in time in certain conditions and the account balance becomes negative, the new balance will automatically cancel the negative balance.

 

XM Trading Tools App

 

There are two types of trading tools: "MT4" and "MT5"

The main features of MT4 and MT5 are as follows.

Characteristics of MT4 and MT5

  • High-performance platform used worldwide
  • Automatic trading using EA is possible
  • One click order possible
  • You can order directly from the chart
  • Unlimited number of charts can be displayed simultaneously
  • Display board information that can confirm market orders
  • Equipped with rich chart types, technical and drawing tools
  • Multilingual support available

Meta Trader is a versatile trading tool used by many Forex vendors.

Using a proprietary programming language "MQL (Meta Quotes Language)" similar to C language, it specializes in indicator and automatic trading program (EA) development.

In XM, two types of versions, Meta Trader 4 and Meta Trader 5 (hereinafter referred to as MT 4 and MT 5), are available on personal computers and smartphones.

MT5 has been developed as a successor to MT4 and has various function extensions.

The reason why we use two different versions of tools is that the number of MT4 users is overwhelmingly large now, and there is a fact that MT5, which should have high functionality, has not been widely used .

The main reason is that the traders who used MT4 are outperforming the transition to MT5 because the indicators are incompatible between MT4 and MT5 .

XM, which employs both MT4 and MT5 as trading tools, can be said to have a good grasp of the facts of this user .

The usage and functions are almost the same as the other companies, so details will be omitted and the two differences will be explained here.

 

Compare the specifications of "MT4" "MT5"

  • MT4: 9 types of hour and foot, 3 types of chart, 47 types of technical, 31 types of drawing tools
  • MT5: 21 types of hour and foot, 3 types of chart, 77 types of technical, 43 types of drawing tools

The difference between time base, chart type, technical (indicator) and drawing tools is as described above.

MT5 has more time, technical and drawing tools than previous versions.

 

Difference of window, management screen

In addition, in MT5, the brand management screen and board information screen have been remodeled and are easier to use.

MT4

MT5

It is now possible to search for stocks on the MT5 brand management screen.

When you enter some keywords, corresponding candidates will be listed automatically, and usability is much improved.

MT4

 MT5

A tick chart has been added to the board information screen.

However, although it is possible to display the transaction volume etc. originally as follows , the function is limited in XM.

 

XM Customer Support

upport email and live chat is high quality

Correspondence business hours
Email OK -
Live chat OK Weekday 9-21 o'clock
Other - -

 

There are two types of customer support: email and live chat .

In fact, when I made an inquiry, I felt that the response was very fast and the response was very good .

By the way, XM allows you to place an order by phone, but this is all for English and international calls.

 

XM Information Service

Even beginners are safe! Video content and video seminars are enhanced

XM differs from other Forex vendors in that it has a lot of content for investment beginners and a solid support system .

The official site offers the following various information services:

 

Watch market analysis reports with videos

Economic news is distributed by video.

You can also watch back numbers.

 

Video manual also enhanced

Video manuals for trading tools are also provided.

The point where a beginner is easy to ask questions is well explained and the content is very easy to understand.

 

Free Trading Signals Preinstalled

MT4 · MT5 has a free trading signal installed from the beginning.

The signal is updated twice a day, enabling you to automate entry, profit fixing and loss cutting.

It may be good for beginners to use it as an automatic trading portal.

 

Paid trading signals can also be purchased

You can also purchase paid trading signals provided by the MQL5 community .

You can purchase and set up directly from the trading tool.

 

Economic calendar

Economic calendar can check even detailed information.

 

A wealth of useful FX calculation tools

The above six types of calculation tools are available in XM.

However, there is no calculation tool for margin maintenance rate and price range up to loss cut.

 

XM Campaign Bonus

With XM, you can earn a large amount of trading bonus by opening an account, receiving money, and trading, so you can significantly increase the amount of former funds.

However, because there are many restrictions, please be careful not to lose the bonus you have saved.

Cautions when using bonus

The transaction bonus itself can only be used for trading in XM and can not be withdrawn. If you move cash between accounts, the transaction bonus will move according to the ratio, but if the receiving account is a Zero account, all transaction bonuses will be lost. Also, be aware that withdrawing cash from your account consumes transaction bonuses.

 

You can get a bonus of 3,000 yen for opening an account

First, when the account opening is done and the personal identification is approved, a transaction bonus of 3,000 yen is given to all real account holders . The acquisition method is as follows.

 

How to get an account opening bonus

Click Claim Bonus Now on the member's page after opening an account.

 

Please enter your mobile number.

 

An authentication code will be sent to your registered email address.

 

Please enter your authorization code.

 

The procedure is now complete. After a while, 3,000 yen will be reflected in the account balance.

 

You will receive a bonus each time you deposit

Zero account is not eligible for deposit bonus.

The deposit bonus is a transaction bonus that is given in the next two stages depending on thedeposit amount .

  • 100% bonus up to a total deposit of $ 500
  • 20% bonus up to a total deposit of $ 5,000

In other words, if you deposit 50,000 yen, a bonus of about 50,000 yen will be granted, and transactions of 100,000 yen are possible, and if you deposit 500,000 yen, a transaction bonus of up to about 190,000 yen will be granted together. It is possible to trade for about 690,000 yen.

We can convert XM points which we saved by transaction to bonus

Zero accounts are not eligible for XMP. Also, please note that XMP will not be granted unless you hold a position for 10 minutes or more with a micro standard account. Gold status is 30 days, Diamond status is 60 days, Elite status is 100 days, XMP will be reset if there is no transaction.

When trading with XM, XM points (XMP) will be accumulated.

There are four stages of XMP to receive, depending on the trading period of the trader, and can be exchanged for a trading bonus.

 

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