XM is a platform for online trading where investors could trade with different assets. These included Forex Trading and Contracts for Difference (CFDs) on stock indices, precious metals and energy. The English website is available at the URL https://www.xm.com/.

According to their own information, over 70% of retail investor accounts lose money when trading CFDs through this provider (status of text preparation: 11.3.20).

Have you been contacted by XM and do you want to talk about the company? Or are you interested in this provider or the peculiarities of online trading in general prior to a planned investment? Then a lawyer is available for a conversation.

The law firm Herfurtner Rechtsanwaltsgesellschaft mbH is addressed when it comes to investor protection. In addition, the lawyers are active in company law, capital markets law or business law.

With offices in Northern Germany (Hamburg) and Southern Germany (Munich) we serve investors from all over Europe.

If you would like to talk to us about XM, you can arrange an appointment. Please go to our contact area for this purpose.

XM Broker Experiences

Anyone dealing with the subject of online trading will find that there are a large number of companies that address investors with their products. To assess their quality, it is useful to draw on the experience of investors who have already invested there.

There are many forums or blogs online where opinions on online trading platforms like XM are shared. For example, if you search for “XM Experience” or “XM Group Review”, you will find many articles, mostly in English. The opinion about XM is divided.

In principle, it is a good idea to investigate the source of the texts dealing with a specific trading platform. Because not without exception are the statements written from a neutral point of view. Anyone with the appropriate online marketing know-how can influence the opinion.

Online trading platforms themselves or the advertising partners affiliated with them will tend to express themselves favourably about their own or the advertised offer. Similarly, it is conceivable that contributions may be placed whose tenor is intended to dissuade investors from becoming involved with a competitor.

Headquarters, Regulation and Contact

The provider’s website must also be included in the research. For although there are few objective statements to be found at this location, one should nevertheless check the location of the company’s headquarters and, above all, its regulatory status before making an investment.

There is no imprint on the website that provides information about the legal form, registered office and management of XM. In the footer, there is a note that XM is a trading name of a Trading Point Holdings Ltd. This company acts as a holding company, among other things for a CySec approved company called Trading Point of Financial Interest Limited.

In the customer service section of XM’s website, you will learn that XM speaks over 25 languages and serves customers from nearly 200 countries worldwide. Contact can be made in writing by email or live chat. For a personal conversation with XM, you can dial several telephone numbers in Cyprus, Greece or Australia.

XM has offices in Limassol (Cyprus), Sydney (Australia) and Athens (Greece).

XM Web Presence

On its own website, XM describes itself as an investment company and market leader in the industry. Since its foundation in 2009, it has served more than 2.5 million customers from over 190 countries. XM also employs more than 450 people, all of whom have experience in their respective industries.

XM’s offering is aimed at traders of all levels of experience, with customer support available in over 30 languages.

On the home page, XM highlights four features at the top:

  • over 15 trading platforms
  • more than 20 awards
  • over 1,000 tradable assets
  • Spreads from 0 pips

This is followed by the statement that as a customer you not only receive a trading account for FX trading and CFD trading, but also enjoy other advantages. According to XM these include:

  • Foreign exchange market outlook on a daily basis
  • Individual customer support
  • Daily webinars on foreign exchange trading (Forex Trading) without costs
  • Current technical analysis without costs
  • Support five days a week, around the clock
  • Access to training videos at any time

XM describes itself as a regulated broker in the further course of the start page, as XM Group is licensed in Australia and Cyprus. Through a single trading account at XM, one can trade CFDs on metals, shares, energies, share indices and commodities or Forex Trading. XM believes that trading and using the technology is easy to understand.

Technology offered

For their trading activities, investors need access to trading software. Online trading platforms usually provide this software to their customers free of charge. The programs are either proprietary developments or applications published by third parties.

XM advertises a total of 16 different platforms. Metatrader 4 and Metatrader 5 belong to it in their characteristics as Webtrader as well as for Apple and Windows computers. Furthermore both programs are available for the use on mobile devices, as long as they run under Android or iOS.

Registration and various account models

To be able to trade via XM, a registration as a customer is necessary. Once you have created your account, you can choose between different account types when choosing a trading account. Each of the accounts offered by XM is available as a Forex account or as a trading account for different assets:

  • Micro account: Minimum deposit of 5 USD, different base currencies, option as Islamic account
  • Standard account: Minimum deposit of 5 USD, different base currencies, option as Islamic account
  • Micro account: Minimum deposit of 100 USD, different base currencies, option as Islamic account

Furthermore, it is possible to test the functions with an XM demo account. Here you can trade with virtual money without exposing yourself to real risks.

According to XM, deposits and withdrawals can be made using different methods in the FAQ area. For example, XM offers a choice of bank transfer, credit card processing or e-payment transactions.

Education and training at XM

On the subject of training, XM has created a specific section on its own website entitled “Research and Education”. This is in turn divided into the topics Tools, Learning Area and Research.

  • Research: redirection to an English language site that lists various videos, technical analyses, market previews or news.
  • Learning Area: Access to training videos, live tutorials, seminars and webinars on forex trading
  • Tools: Economic calendar and forex calculator, FX signals and access to the MQL5 community for trading signals

Mindfulness in Online Trading

Anyone who wants to invest money and in the course of doing so looks at the conditions of traditional products such as overnight money will often be frustrated with the potential returns. Consequently, many investors inquire on the net and start looking for alternatives that offer good returns.

In this way, a large number of online brokers come on the radar, offering their products internationally and attracting attention with supposedly worthwhile offers. Accordingly, many online trading platforms are increasingly turning to European investors.

However, investing on online trading platforms is not recommended for everyone and not without restrictions. For one thing, companies often reside abroad. Apart from the possible language barrier, it is not always possible to determine beyond doubt whether the companies are also legitimate to do business in the EU.

As a rule, online brokers focus on a number of complex products, including crypto currencies, contracts for difference or forex trading. However, these offers are not necessarily recommended for everyone.

With these types of products, thorough advice is mandatory before making an investment. However, this is in no way standard with an online trading provider. Even permanent contact persons who speak the language of the customer are not the rule.

This can quickly become problematic, especially if there are difficulties with the trading account. And an inadequate assessment of the risks is often associated with losses, which often even affect the entire investment.

Respond to losses

In the event of losses, one should immediately refrain from adding further funds. Instead, you should first discuss with the online trading provider the reason for the losses and whether there are possibilities to compensate for these losses.

The law firm Herfurtner Rechtsanwaltsgesellschaft mbH will examine the matter and determine which claims can be asserted against the online trading platform if necessary. The lawyers will look after your interests and contact the provider directly, regardless of where the provider is located.

In order to find out how to behave in case of losses in online trading, you can claim investor protection and seek an exchange with a legal advisor of ours at any time. To set a date, please choose from one of the options we offer in our contact section.