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     Company information

    Broker's name: XM

    Website: www.xm.com

    Headquarted in Cyprus

    Regulated by: CySEC, FSP, ASiC          

    E-mail Address: info@alfatrade.com 

XM offers its clients three types to choose from: Micro, Standard and Zero. You may choose from commission-free trading (in Micro and Standard accounts) or tighter spreads, involving commission fees and higher initial deposit (Zero account). The broker offers high leverage levels and floating spreads. Beginners can sign up for Micro accounts with as little as $5, and micro lots are available for trade on all accounts.

What is more, swap-free (Islamic) accounts are available, designated for clients who are not willing to earn interest for religious reasons.

The Company. Security of Funds

Launched back in 2009, XM is the brand name, consolidating the former Trading Point and MegaTrader FX. Based on the sunny island of Cyprus, the broker offers great trading conditions for trading in a wide range of instruments, including 56 currency pairs, CFDs on commodities, indices, precious metals and energies. 

XM is the trading name of Trading Point Holdings Ltd., a Cypriot Investment Firm (CIF), registered in the European Union and licensed by Cyprus Securities and Exchange Commission (CySEC). The company has also set up an Australian unit, Trading Point of Financial Instruments PTY LTD, which is regulated by the Australian Securities and Investments Commission (ASIC).

Cyprus and Australia are currently one of the most attractive forex broker destinations and probably the main reason for this is the well-balanced regulation in bothjurisdictions. Tough regulation with high entry capital requirements and low maximum leverage has reduced competition in the United States and Japan, while light touch regulation affects credibility and safety.

Both CySEC and ASIC apply certain rules and requirements to Cyprus Investment Firms, which are not as stringent as those in the US, for instance, however they provide a good level of credibility. Cypriot Investment Firms must hold at least €730 000 in order to prove their good financial standing, while Australian FX brokers must possess net tangible assets amounting to at least $1 million. Besides, both Cypriot and Australian brokers are required to keep customer funds in segregated accounts, separated from the company’s operating funds.

Negative Balance Protection

In order to ensure that their clients do not lose more money than they have deposited, XM provides the so called Negative Balance Protection (stated on their website in light of the Swiss Franc spike). This means that your account will be brought to a zero balance if it goes into negative as a result of the fast-pacing volatile market. 

Minimum Initial Deposit

In order to open an account with XM, traders have to invest just $5. 

Spreads & Commissions

This broker offers variable spreads. The typical ones on commission-free accounts amount to 1.7 pips on EUR/USD, which is comparatively high. The conditions on the Zero account are the most attractive ones: spreads averaged 0.1 pips on EUR/USD and commission $5 per standard lot traded (per side). So basically trading costs on the Zero account amount to around 1.1 pips, commission included, which is quite competitive for the forex industry. 


The maximum leverage with XM is high, reaching 1:888. 

Trading Platform

The platform offered by the broker is the ever popular Metatrader 4 (MT4) in all forms and shapes: desktop, web, and mobile.

What is more, XM provides MT4 MultiTerminal, which offers a practical and convenient way to manage multiple accounts simultaneously from a single interface (PAMM).

Besides, free Virtual Private Server (VPS) hosting is offered to both new and existing customers who deposit a minimum of $5,000 and trade at least 5 round turn lots per month. VPS hosting allows the execution of orders 24 hours, 5 days a week.


XM runs the following promotions:

- 100 % Deposit bonus UP TO $5,000 (only available for Micro and Standard Accounts);
- $30 No deposit bonus;
- Forex World Championship with 41 million pool prize;
- Cash rewards and credit bonuses available under loyalty program.

Methods of Payment

XM supports a wide range of payment methods: credit/debit cards (Visa, Visa Electron, MasterCard, Maestro, China UnionPay, Diners Club International), bank wire transfer and e-wallet payment systems Skrill, Neteller, WebMonew, Paysafe, iDeal, Sofort, Qiwi, CashU, giropay, Przelewy24, FasaPay. Payments through Western Union are also available.

XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Moneybookers and all major credit cards (including VISA, VISA Electron, MasterCard, Maestro and China UnionPay). Additionally, all deposits and withdrawals above 200 USD processed by wire transfer are also included in our zero fees policy.


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