30:1(This Leverage applies to clients registered under the EU regulated entity of the Group. Leverage depends on the financial instrument traded.)
Australia ,Cyprus, Belize
In this review of the XM Group, we will take a look at an online forex broker with over a decade of experience and a stellar reputation as one of the most trusted names in the industry.
XM Group provides a huge selection of assets to choose from for traders and is regulated by some of the most respected financial bodies in the sector.
This regulation means you can always expect transparency and fair trading, no matter which instruments you choose.
XM Group is a group of
regulated online brokers. Trading Point of Financial Instruments Ltd was established in
2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC
120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and it is
regulated by the Australian Securities and Investments Commission (ASIC 443670) and
XM Global Limited was established in 2017 and is regulated by the International Financial
Services Commission (IFSC/60/354/TS/19)
XM Group is a group of
regulated brokers and it is owned by Trading Point Holdings Ltd. Entities under XM Group
have significant experience as financial services providers worldwide. Trading Point of
Financial Instruments Ltd was established in 2009 with headquarters in Limassol, Cyprus,
Trading Point of Financial Instruments Pty Ltd was established in 2015 with headquarters
in Sydney, Australia and XM Global Limited was established in 2017 with headquarters in
Belize. XM Group is regulated by the CySEC (Cyprus Securities and Exchange
Commission) – Trading Point of Financial Instruments Ltd, IFSC (International Financial
Services Commission) – XM Global Limited and the ASIC (Australian Securities and
Investments Commission) – Trading Point of Financial Instruments Pty Ltd.
Registering for a trading account with XM Group is a simple process, which you can complete from either mobile or desktop.
The minimum deposit amount is accessible for all types of traders, and XM Group doesn’t require any unexpected documentation. It’s a straightforward process.
The minimum deposit at XM Group varies depending on which account you choose.
Standard and Micro Account ($5), XM Zero Account ($100) and XM Ultra Low Account
To open an account with XM Group, simply follow the steps listed below. The whole process is digitalized, which means you would not need to worry about mailing documents to the broker.
XM Group advertise that the registration process can be completed in 2 minutes only. Although some users have claimed that it can take as much as 15 minutes.
Step 1: Fill in personal details, including name, email address, country of residence, preferred language and phone number.
Step 2: Select which XM Group entity you wish to trade with (only for EU traders, choose between XM CY or XM Global).
Step 3: Select your trading platform (choose between MT4 or MT5).
Step 4: Supply the broker with your date of birth and address (note your address should be the same as the one which will appear on your supporting documents).
Step 5: Indicate whether or not you are a US citizen for tax purposes.
Step 6: Choose your account base currency and your leverage.
Step 7: Answer questions about your current employment status and capital.
Step 8: Answer questions about your trading plans and ambitions.
Step 9: Answer questions about your trading knowledge and experience.
Step 10: Complete P.E.P checks (are you a Politically Exposed Person?).
Step 11: Create a password and accept terms and conditions.
Once you have completed the steps above, you will need to confirm your email address and validate your account. To do this, you’ll need to log in and supply the required documentation.
To make the whole sign-up process as straight-forward as possible, below is a list of everything you will need.
Personal information – Name, phone number, email, country of residence, address, social security number (national insurance number for UK residents).
Regulatory information – Tax residency details, employment details, estimated wealth and source of wealth details, trading experience overview, trading objectives, P.E.P disclosure.
Documentation – Proof of identity (valid passport or official country ID), proof of residency (recent utility bill or bank statement)
XM Group’s customer support is available I several languages. These include English, French, Germany, and Arabic.
You can get in touch with them via email or phone call. Their call center is open 24 hours on 5 business days of the week.
It doesn’t take long to be connected to a customer support agent. 15 minutes maximum.
At XM Group, you will always be able to deposit and withdraw from your account safely as the broker provides a great variety of reputable convenient payment options to choose from.
These include –
All these methods can be used for both deposits and withdrawals, and there is a minimum limit of $5 per transaction. All withdrawals are credited back to you within 24 hours, so long as your account has already been verified.
All payments made at the XM Group online broker site are also protected by SSL technology. This means that there’s no risk of having your banking details fall into the wrong hands.
XM Group offers 57 currency pairs and CFD trading in commodities, indices, metals, energies
Major trading platforms MT4 and MT5 are offered to all traders.
XM Group is regulated by the world’s most respected regulatory bodies.
An accomplished and well-rounded package makes XM Group one of the best
broker for new traders
Not available to US customers due to regulatory constraints
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
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