XM Trading Review 2019 South Africa: XM Group is an online trading broker which was established in 2009. This broker is regulated by the Cyprus securities and exchange commission (CYSEC 120/10). In 2015, Trading point of financial instruments Pty Ltd was established and it is regulated by the Australia securities and investments commission (ASIC 443670) and Trading point of financial conduct authority (FCA 705428).
XM trades with numerous financial instruments. This broker is directly linked with Forex markets, CFDs and commodities. Today, the company operates in more 196 countries worldwide offering financial trading solutions to their clients. It trades in over 60 currency pairs and over 100 financial instruments including, contracts for difference (CFDs) on commodities, indices, energy, precious metals and stocks.
All these instruments can be traded both online and by phone on 8 advanced trading platforms including MetaTrader 4 and MetaTrader 5 trading platforms.
Types of accounts offered by XM Trading South Africa
XM Trading offers three types of accounts and they are: Micro, Standard and Zero. Micro and Standard are both commission-free and Zero provides tighter spreads with commission fees and a larger initial deposit. South African online traders can choose from commission-free trading (in Micro and Standard accounts) or tighter spreads, involving commission fees and $100 initial deposit (Zero account).
XM trading platform and apps
- XM offers you with MetaTrader 4 (MT$) and MetaTrader 5 (MT5) trading platforms for both PC and Mac.
- XM MetaTrader 4 – The world’s most popular trading platform
- XM MetaTrader Multiterminal – Manages over 100 accounts at the same time from a single interface.
- XM MetaTrader Web Terminal – Online trading access to the global financial markets for PC or Mac without any download being required.
- XM MetaTrade 5 Web Trader – The most powerful trading platform available from your browser, it includes hedging options and exclusive features access without requiring downloads.
- Mobile Trading – It gives you access to trade on your smartphone or tablet with MT4 or MT5 on iOS or Android platforms. Available for the App Store or Google Play respectively.
- XM MetaTrader 5 – A multi-asset platform for over 300 instruments, that displays 100 charts at the same time, is state-of-the-art. It supports all order types and has multi-currency tester and alert capability.
Payment and withdrawals
XM broker has no hidden fees or commissions policy. Account funding is processed 24/7 and is 100% automatic. Withdrawals are guaranteed the same day. Clients can choose from a wide selection of payment methods such as credit cards (VISA, VISA Electron, MasterCard, Switch, Solo) bank wire, Neteller, Moneybookers Skrill, local bank transfer and many more.
|Global broker operating in safe regulatory environment||XM broker does not accept PayPal|
|Wide variety of trading tools instruments||Does not offer Equities|
|MetaTrader 5 platform available on all devices||Does not offer any EFTs|
|Apps for iOS and Android devices||You have to pay an inactivity fee per month which $5|
|XM broker is licensed and regulated by the EU, CySec, FCA and ASIC||There is no weekend customer service assistance for your queries|
|Withdrawals process is fast and easy and normally it take 24 hour||Margin call level is risky for inexperienced traders|
|You can have up to $5,000 deposit bonus||Both margin levels and opening positions require careful monitoring|
XM Group has won Best Forex Service Provider for 2017 at the City of London Wealth and Management Awards. The multi award-winning broker serves over 1,000,000 clients world-wide and is the official trading partner of the Fastest Man in the World, Usain Bolt.
Besides winning an award, the broker also offers its clients with flexible leverage up to 1:30, there are personal account managers, 24 hours support service, mobile trading, and withdrawals are fast and easy.