Brief information about the company Xm Trade
Xm Trade is a financial holding company that provides a wide range of services in the field of finance, insurance, internet banking, stock operations, auto financing, corporate financing, and many other areas. According to the official website, the company is among the top 20 largest banks in the USA by the volume of loans provided.
About Xm Trade in Russia
In 2021, Xm Trade started offering high-quality brokerage services in the Russian online trading market. The Xm Trade website features an investment calculator to help assess potential investment profits.
Services and advantages of Xm Trade
Xm Trade offers its registered users trading with over 100 assets, including cryptocurrencies, metals, indices, commodities, and currency, all available from one trading account. Xm Trade guarantees no commissions, fast order execution, best spreads, leverage of 1:100, high levels of security and confidentiality on the platform.
Contacts and consultations
You can contact Xm Trade by filling out the form on the “Contacts” page, calling +442037691202, or emailing [email protected]. Customer support operates 5 days a week from 9:00 to 21:00. There is also an option for communication through a Telegram channel on the website.
Trading instruments and platforms of Xm Trade
Xm Trade provides access to trading with over 100 assets but does not disclose information about its trading exchange. To start trading with Xm Trade, you need to register, deposit funds, and begin trading.
Types of trading accounts
To start trading with Xm Trade, three types of trading accounts are available: Standard, Advanced, and Master. The minimum deposit is $150, and the maximum is $5000. Each account type offers its own service conditions, with the higher the minimum deposit, the more advantages the broker provides.
Deposits and withdrawals
Xm Trade offers various convenient methods for depositing and withdrawing funds, which can be used through the personal account. Information about the minimum withdrawal amount is not provided.
Conclusion
The information on the Xm Trade website contains some inconsistencies, such as mentioning the founding year as 1919 and a 5-year work experience. There is no information about legal documents and withdrawal methods. Despite the broker’s claim to be a banking holding, some aspects of its operations require more detailed examination.
Roland
While Xm Trade is widely recognized as a forex broker, it does not seem to be regulated by any major financial regulatory bodies in recognized jurisdictions, such as the US, UK, or Australia, which raises questions about its accountability and transparency. Although they state they are regulated by the International Financial Services Commission (IFSC) of Belize, this body is not held in as high regard as others are in terms of providing financial regulation.
Additionally, there have been mixed reviews and user experiences reported online. Several users have reported difficulties in withdrawing funds, poor customer service, and unfair trading practices. In some online forums and review pages, some traders have even accused Xm Trade of being a scam, which can indicate potential reliability issues.
Furthermore, their website fails to provide comprehensive details about the company’s operational background. It is equally disturbing to realize that they offer incredibly high leverage of up to 1:888. This could lead traders, especially inexperienced ones, to make risky trading decisions, incurring heavy losses.
Therefore, while considering these, it might be essential to carefully analyze all aspects before deciding to trade with Xm Trade.