XM Trading is a popular Forex company with the highest number of users in the world. Founded in 2012, XM Trading is a long-established company, as evidenced by its long operating history. On the Internet, you may see articles and writings such as “XM is a fraudulent company”, “Illegal activities”, “XM is a suspicious FX trader”, etc. Find out the truth.
- Is XM a Scammer?
- Why you can trust XM
Is XM a Scammer?
XM is not a dubious FX scammer, you can do FX with confidence. There are several reasons why XM is considered a fraudulent company.
Warning from Japan’s Financial Services Agency/Local Finance Bureau
The reason why it is said to be suspicious is that XM has been warned by the Japanese Financial Services Agency and the Finance Bureau. However, XM Trading, which has bases overseas, has no obligation to register with the Japanese Financial Services Agency, and there is no violation in operation, so you can rest assured.
Withdrawal refusal hoax
There are many opinions related to the inability to withdraw money, such as when a withdrawal application was made with XM, it was rejected, or the account was frozen. However, at XM, it is impossible to withdraw if the specified withdrawal conditions are met. You can also refer to the following articles.
Anxiety about customer money management
XM has a Cyprus corporation and a Seychelles corporation, and Cyprus is a member of the Investor Compensation Fund (ICF) stipulated by CySEC, and even if it goes bankrupt, up to 20,000 euros will be compensated by the ICF. This means trust protection up to €20,000.
XM also conducts “separate management” at its headquarters and branch offices in each country, and customer funds are deposited with Barclays Bank in the United Kingdom.
Why you can trust XM
The XM Group, which has services in 196 countries around the world, is gaining support as one of the most satisfying Forex brokers among many overseas Forex brokers. But why has it received such strong support? There are the following reasons.
Get a financial license
XM has been reviewed by the Seychelles Financial Authority (FSA) and is officially licensed to provide financial services. XM has many licenses, so it has the advantage of being extremely reliable among Forex brokers.
Under the rules of the zero cut system, XM does not generate additional calls. Most traders have adopted a zero-cut system without additional margin. However, there have been other companies in the past where the zero cut system does not work in some cases, but it is not XM.
No withdrawal refusal
Excluding false rumors spread on Twitter, etc., XM refuses to withdraw money only when it violates prohibited items. I have not heard that XM had trouble with withdrawals. Reliability is second to none.
High execution power
As a point to emphasize when choosing an FX trader, there are many users who choose by contract power. At XM, 99.35% of all orders are filled within 1 second. Only XM Trading can hit such a high number
Accumulate XMP (XM points) and use it for trading funds
The advantage of XM is that it has its own point service called XMP (XM Points). XMP is a very profitable service because it can be used as a trading fund because it is a point that can be converted into cash or bonuses that you can get every time you trade.
name value is large
XM has a name value that can be said to be No.1 among FX traders, and the advantage is that it is highly reliable. The number of users is well over 1 million, and it has a sponsorship with Usain Bolt, so it is definitely the top in terms of reliability.
low minimum deposit
The minimum deposit amount of XM is about 500 yen. The advantage is that the initial hurdles are low because you can start with very little capital. Since you can start trading with a small amount and high leverage, even those who do not have enough funds have a chance to save money.