Skip to main content

XM South Africa Review

(5 out of 5 stars from 287 Reviews)

$ 1,00

No Deposit Forex Bronus Borker

In recent years, a dynamic branch of online brokers has developed, which is competing for the favor of risk-averse investors with special offers. The keywords in this industry are social trading, binary options or CFD trading.


Overall Rating

66%

"Best SA Forex Broker"

Customer Support
%
Very Good
Deposit Bonuses
100%
Massive
Minimum Deposit
98%
Very Low!

Most of the providers have specialized in individual asset classes, while other providers offer the complete range of leveraged financial products. One such provider is XM, a subsidiary of Trading Point of financial Instruments, a Cyprus-based company.

Best Forex Trading Brokers in South Africa

Forex Broker Minimum Deposit Trust Rating Visit Site
EasyMarkets South Africa
R1
99.85%
Sign Up
XM South Africa
R500
99.81%
Sign Up
FXTM South Africa
R100
99.25%
Sign Up
Avatrade South Africa
$100
98.11%
Sign Up

Trading experience for South Africans

The company, which was founded in 2009, is a broker that has grown steadily over the past few years. In addition to its range of tradable products and trading instruments, it is also continuously expanded its global presence. Of course, the customer also benefits from this diversity and knowledge. According to its own information, XM now has a huge customer base with 300,000 opened accounts and traders from almost 200 countries. In doing so, the provider tries to create offers to its customers on site by holding real events that aren’t administered online. But first, XM should be viewed from the attitude of potential newcomers trying to find an appropriate broker.

Companies Trading Point Holdings Lt
address 12 Richard & Verengaria Street, 3042 Limassol, Cyprus
Registration number HE 322690
Regulation / license CySEC, 120/10, BaFin registered
Phone: +357 25029933
e-mail: [email protected]
Service times: Mon-Fri 24h
Fax: +357 25345225

 

Basically, five types of products are often traded at XM. These include raw materials, precious metals, stock indices, crypto currencies and international currencies. For stock indices and commodities, XM uses the instrument of CFD trading, also referred to as a contract for difference in German-speaking countries, during which you’ll back the worth development of a particular base value. The spreads form the idea for the opposite sorts of trading. Leverage ratios of up to 1:30 are offered.

 

Here are the leverage consistent with the underlying assets at a glance:

Products Maximum leverage
Major FX pairs 30: 1
Major Indices Minor FX Pairs Gold 20:01
Commodities Minor Indices 10:01
shares 05:01
Cryptocurrencies 02:01

 

Bonus for new customers

The bonus program that XM offers for both new and existing customers is also varied. for brand spanking new customers there’s initially a bonus of 25 euros no matter the first deposit amount. This makes XM a no deposit forex broker that grants a free bonus. This bonus may also be credited in other currencies such as British pounds, US dollars or other currencies, if desired. In contrast to several other brokers, XM also offers that winnings made with this bonus are often paid out immediately and no further conditions are attached to the present bonus. Our experience, also with other brokers, shows that this is a really fair offer.

 

Deposit bonus: € 25 free, 50% bonus up to $ 500, 20% bonus up to $ 5000 (or currency equivalent)
Bonus terms: Bonus can be used for trading, but cannot be paid out
Validity: unlimited
Other bonuses: Monthly $ 20,000 competition

 

Deposit and withdrawal

In terms of deposit and withdrawal modalities, XM also makes it very easy for its customers. It is currently possible to make deposits through variety of popular credit card providers.

XM attaches great importance to relying exclusively on reputable and internationally recognized providers. Payouts also are possible by bank transfer. It’s particularly convenient for the customer that the fees incurred by all providers are covered by XM. This is applicable to both the deposit and also the withdrawal.

In addition, a really low minimum deposit amount of 5 euros applies across the board. With regard to the duration of the deposit, XM depends on the cooperation with the respective providers, this is often the rationale for sometimes different deadlines. When using a credit card, the transfer is typically immediate. within the case of bank transfers, however, it can take a couple of days before the credit is credited to your own account.

 

Security and Regulation

With relation to the security of the deposits, XM offers the same old rules. This includes a guaranteed deposit protection of up to 20,000 euros. in addition, the deposit protection also can be higher, but varies according to the amount of individual customer deposits. in theory, a better security is often agreed.

 

In addition, the segregation of accounts customary in the industry is additionally applied. this implies that in the event of the broker’s insolvency, the customer’s credit remains untouched. As a subsidiary of Trading Point of financial Instruments based in Cyprus, XM falls under the regulation of the EU, which guarantees basic standards and prevents fraud and rip-offs. Another guarantee for a high degree of seriousness is that the regulation by the Cypriot regulatory agency CySEC. Among other things, this ensures that sufficient liquidity is usually available.

Support and customer service

XM offers customer service to its South African traders. It has professionally trained employees that are available at any time to patiently and competently answer customer inquiries. A crucial and helpful service, especially with products that aren’t always uncomplicated.

Ease of use of the web site

Basically, when it comes to XM’s offers, the customer should deal with partially highly complex trading products that beginners especially cannot understand at first glance. Often the functionality isn’t apparent directly from the explanations on the web site. For this, the customer can and will fall back on the telephone customer service also because the extensive training offers offered before he starts trading. A demo account is additionally available for testing. With XM, all of this is often in fact also possible via a mobile app, which is out there for all systems from iPad to Android.

Conclusion: XM Trading

The broker XM opens up a large range of tradable leverage products to the trader, even if the choice within the categories is manageable. But if you discover your product here, you’ve got a solid and reputable partner with fair conditions in XM. Additionally, it offers some levels of security that are intended to limit losses in this risky market segment. This “safety belt” can be extremely important for beginners, even though its use is in fact not mandatory.

No reviews yet


Got a question or an opinion for this article? Share it with us!

Your email address will not be published. Required fields are marked *


$ 1,00

No Deposit Forex Bronus Borker

$ 1,00

No Deposit Forex Bronus Borker