Q. Do I need to provide proof of residency?A.
Yes, you do. So that you have your account fully validated and withdraw funds from it, you must provide a recent utility bill not older than 6 months (e.g. electricity, gas, water, phone, Internet and/or cable TV connection), and confirming your registered address.
Q. I don’t have passport.A.
Other than passport, you can provide identity documents such as ID card or driver’s license.
Q. Is there a Demo account for practice?A.
Yes, we have one. Click “Open demo account” on the XM official website.
Q. How long does it take to start trading after account registration?A.
If you prepare all the necessary identification documents in advance and fill in the information correctly, you can start trading within 5 minutes after registration.
Q. What types of account are available?A.
We offer 3 types of accounts.
-Micro account: 1 micro lot is equal to 1,000 units of base currency
-Standard account: 1 standard lot is equal to 100,000 units of base currency
-Executive account: 1 standard lot is equal to 100,000 units of base currency
The base currency refers to the first currency in a currency pair. For more information, please refer to the account type page.
Q. What is the minimum deposit for a trading account?A.
It is 5 USD.
Q. There is a risk that losses (debt) could exceed the money placed on deposit?A.
No. XM offers Negative Balance Protection to ensure that you don’t lose more than the amount you deposited
If the slippage of a certain currency pair causes a negative balance, our XM back-office will fix it immediately.
Q. Do you allow cross-trade or scalping?A.
Yes, we do.
Q. Can I open more than one trading account?A.
Yes, you can.
Q. What deposit/withdrawal options are there?A.
Currently, you can choose from the following deposit and withdraw funds: credit / debit card, Neteller, Moneybookers-Skrill, bank wire transfer, Western Union, MoneyGram, WebMoney. If you would like to withdraw by Western Union, MoneyGram, iDEAL, China UnionPay, or local bank transfer, withdrawal will be carried out via bank wire transfer.
Q. Can I withdraw the amount that exceeds what I have deposited via credit card?A.
If your credit card belongs to the CFT program, the card issuer allows withdrawals above the total amount you have deposited. Therefore we can transfer your profits back to your credit card.
In the case that your credit card does not belong to the CFT program, we can only transfer the same amount back to your credit card as you deposited, and transfer your profits to your bank account by wire transfer.
Q. Can I withdraw whenever I want?A.
Yes, it is possible.
You can request the funds withdrawal by logging in to the Members Area, select the Withdrawal tab and send us a withdrawal request.Your funds will be deposited into your bank account registered at XM (XM.COM). If a withdrawal request is sent after 12:00 pm GMT, please understand that the withdrawal request cannot be processed within the same day.
Q. How long does it take to receive my money after I make a withdrawal request?A.
All withdrawals are processed within 24 hours. Via any e-wallet methods you will receive your money on the same day, and via bank wire it usually takes 2 – 5 business days.
Q. Are there any deposit/withdrawal fees?A.
We do not charge any deposit/withdrawal fees at XM
Q. Can I trade on smartphone?A.
Yes, you can. Available on iPhone, iPad, Android. Please install a special software by clicking “Trading platform” button on the top menu of XM official website.
Q. Do you accept the use of EA (expert advisors)?A.
Yes, we do
Q. Do you provide any kind of online support/tutorial for how to use the MT4 platform?A.
Feel free to contact your XM Personal Account Manager via live chat, email or by phone to schedule a presentation on MT4. We are ready to help you with one-to-one detailed explanation at any time convenient for you.
Q. Can I change the time zone in MetaTrader?A.
No, you can’t. The time zone of our XM trading servers is always GMT+2 (. GMT time setting avoids having small candlesticks on Sundays and therefore allows the running of technical analysis and back-testing to go more smoothly and straightforward.
Q. I can’t place a new order on my Micro accountA.
At XM (XM.COM), we separate standard trades from micro trades (1volume in standard account = 100 000 units, 1volume in micro account = 1000 units). This is why you should right-click on the symbols with “micro” extension (e.g. EUR/USD micro instead EUR/USD), choose Show all currency pairs. The other “grayed” symbols are used by the platform to calculate oil prices. Right-click these “grayed” symbols, and choose the Hide option to avoid any confusion.
Q. Where are you based?A.
Our headquarter is based in Limassol, Cyprus
12 Richard I & Berengaria Of Navarre, Limassol, Cyprus
Q. Can I visit your offices?A.
You are more than welcome to visit our office at any time. We kindly ask you to inform us in advance with a date and time and your Personal Account Manager will be waiting to welcome you.
Q. Where is XM registered and regulated?A.
XM’s broker service is provided by Trading Point Holdings Ltd ( operated under the trade name of XM) and it is registered as Cypriot Investment Firm (CIF) with the Registrar of Companies in Nicosia under registration number HE 251334.
In addition, it is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 120/10. Trading Point of Financial Instruments Ltd operates in accordance with the regulation of Markets in Financial Instruments Directive (MiFID).
Q. Is XM listed under any official European or international agency?A.
XM’s broker service is provided by Trading Point of Financial Instruments Ltd under license number 120/10 and is regulated by CySEC (Cyprus Securities and Exchange Commission). In addition, XM is also registered with other financial institutions such as FCA (FSA) (United Kingdom), BaFIN (Germany), CNMV (Spain), AFM (Netherlands), FI (Sweden).
Q. Is there an official European/international regulatory body where XM is listed?A.
XM operates with a strict regulatory legal and financial background:
-Licensed and regulated by CySEC (Cyprus Securities and Exchange Commission) under license number 120/10;
-Governed by MiFID (Markets in Financial Instruments Directive), registered under license number HE 251334;
-Operation according to the Cyprus Investment Services and Activities and regulated Markets Law of 2007 (Law 144(I)/2007);
-Registered with FCA (FSA), UK, licensed under 538324;
-Fully authorized by EU
micro instead EUR/USD), choose Show all currency pairs. The other “grayed” symbols are used by the platform to calculate oil prices. Right-click these “grayed” symbols, and choose the Hide option to avoid any confusion.