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XM

XM Review
Trader's rating 3.4
Editor's rating 4.7

Trading Accounts

 

Account type  Minimum deposit  Minimum trade size  Maximum leverage  Average Spreads
Micro  $5  0.01 1:500 1.7 pip on EUR/USD
Standard  $5 0.01 1:500 1.7 pip on EUR/USD
Zero  $100 0.01 1:500 0.1 pips on EUR/USD + $7 / lot (round trip) 

 

XM offers its clients three types to choose from: Micro, Standard and Zero. You may choose from commission-free trading (in Micro and Standard accounts) or tighter spreads, involving commission fees and higher initial deposit (Zero account). The broker offers high leverage levels and floating spreads. Beginners can sign up for Micro accounts with as little as $5, and micro lots are available for trade on all accounts.


What is more, swap-free (Islamic) accounts are available, designated for clients who are not willing to earn interest for religious reasons.


The Company. Security of Funds

 

Company Country Regulation
Trading Point of Financial Instruments Ltd. Cyprus  CySEC
Trading Point of Financial Instruments UK Limited UK FCA
Trading Point of Financial Instruments PTY Ltd. Australia ASIC

 

Based on the sunny island of Cyprus, XM offers great trading conditions for trading in a wide range of instruments, including currency trading, CFDs on commodities, indices, precious metals, energies and stocks on two trading platforms (MT4 and MT5). What is more, XM provides ultra-fast execution (99.35% of all trades executed in less than 1 second), as well as awesome bonuses & promotions.

 

XM is a brand name of Trading Point Holdings Ltd, which wholly owns Trading Point of Financial Instruments UK Ltd (XM UK), Trading Point of Financial Instruments Pty Ltd (XM Australia) and Trading Point of Financial Instruments Ltd (XM Cyprus).

  

FCA, CySEC and ASIC apply certain rules and requirements to regulated firms, which are not as stringent as those in the US, for instance, however they provide a good level of credibility. Besides, licensed brokers are required to keep customer funds in segregated accounts, separated from the company’s operating funds.

 

As a further guarantee to clients’ funds, all companies regulated in UK and Cyprus are covered by compensation schemes as additional guarantee to clients funds. All deposits with a UK regulated forex broker up to £50,000 per client are guaranteed by the Financial Services Compensation Scheme (FSCS) - UK’s statutory compensation scheme for clinets of authorised financial services companies. Similarly, Cypriot Investment Firms are members of the Investor Compensation Fund, which is able to pay compensation up to 20,000 EUR, If the company is in default.

 

Currently, however, Australian forex brokers are not covered by any compensation scheme.

 

Trading Conditions


Minimum Initial Deposit

In order to open an account with XM, traders have to invest just $5. Such low minimum initial amount is rather attractive, as typically brokers require $100 - $300 as a start.


Spreads & Commissions

This broker offers variable spreads. The typical ones on commission-free accounts amount to 1.7 pips on EUR/USD. According to us, the conditions on the Zero account are better: spreads averaged 0.1 pips on EUR/USD and commission $3.5 per standard lot traded (per side). So, basically trading costs on the Zero account amount to around 0.8 pips, commission included, which is a great offer. What is more, you can open a Zero account with just $100.


Leverage
XM offers flexible leverage between 1:1 to 1:500. Using leverage means that you can trade positions larger than the amount of money in your trading account. Leverage amount is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.


Trading Platforms

 

When trading with this broker, you will be offered both MetaQuuotes;s platforms - the Metatrader 4 (MT4) and MetaTrader 5 (MT5).

 

MT4 is an internationally acclaimed trading software, offering a full array of trading tools and features: more than 50 built-in technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing options for them. Traders can download ready-made or create their own EAs and let the program do all the work, no human emotions involved. The MT4 with XM is availavle in all forms and shapes: desktop, web, and mobile.

What is more, XM provides MT4 MultiTerminal, which offers a practical and convenient way to manage multiple accounts simultaneously from a single interface (PAMM).

 

Recently MetaQuotes has been putting a stronger emphasis on the MT5: the hedging function was finally added to it and all versions of the platform have been ehanced. As a result, the number of brokers that support the platform has been on the increase. XM also followed suit and added it to its offerings. 


Besides, free Virtual Private Server (VPS) hosting is offered to both new and existing customers of XM who deposit a minimum of $5,000 and trade at least 5 round turn lots per month. VPS hosting allows the execution of orders 24 hours, 5 days a week.


Promotions

 - Free VPS for clients who maintain a balance (Equity-Credit) USD 5,000 or currency equivalent. No end date for this promotion;

 - $30 Non-Deposit Trading Bonus for new clients only. No end date for this promotion;

 - The two-tier deposit bonus offers 50% deposit bonus up to $500 and 20% deposit bonus up to $5,000. No end date for this promotion;

 - The XM Loyalty Program offers the clients XM Points (XMP) per lot traded. These XMP can be redeemed at any time for credit bonus which can be used for trading purposes only. No end date for this promotion.

 

*Clients registered under Trading Point of Financial Instruments Ltd are not eligible for bonuses. 

 


Deposit/Withdraw Methods


XM accepts the most commonly used Local Payment methods today including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc. Their coverage is quite extensive and adds more flexibility on adding funds into the account


XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Moneybookers and all major credit cards (including VISA, VISA Electron, MasterCard, Maestro and China UnionPay). Additionally, all deposits and withdrawals above 200 USD processed by wire transfer are also included in our zero fees policy.


Conclusion


XM is a EU award-winning broker that offers wide range of trading products and account types on two great platforms under competitive conditions. What is more, it provides Negative Balance Protection, as well as lucrative bonuses to its clients. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros  Cons
Well-regulated (FCA, ASIC and CySEC licenses) No significant disadvantages
Negative Balance Protection  
Low trading costs on the Zero account  
MT4 and MT5 available  
Attractive Promotions  
Fast execution speed  

 

Why XM?

- Licensed in UK and Australia
- Tight Spreads from 1 Pip
- Leverage up to 888:1
- Deposit bonus up to 5000 USD
- 24 Hour Support
- No Requotes
- Personal Account Managers
- Automated Trading
- Loyalty Program
- Phone Trading
- Hedging Allowed
- Islamic Account

Registered with

- FSA, UK 
- BaFin, Germany 
- CNMV, Spain
- AFM, Netherlands
- FI, Sweden
- FIN, Finland
- PSZÁF, Hungary
- CONSOB, Italy
- ACP, France
- KNF, Poland

HighLow

HighLow Review
Trader's rating 1
Editor's rating 4.6

 

Basic Information

 

Min.deposit

Min./Max. bet size

Payout %

Promotion

Trading platform

$50

$10/ $2,000 

Up to 88%*

up to $50 cashback

In-house web-based

 

*Up to 100%, spread included

 

HighLow is an ASIC-regulated binary options broker, that offers industry leading payouts on its unique trading platform. Unlike most binary options brokers, it offers a single trading account type.

 

In terms of assets, however, the broker’s portfolio appears rather limited. It includes less than 20 currency pairs, less than 10 indices CFDs and gold.

 

The Company. Security of Funds

 

Company

Country

Regulation

Highlow Markets Pty. Ltd.

Australia

ASIC

 

HighLow is a brand name Highlow Markets Pty. Ltd., a firm regulated by the Australian Securities and Investment Commission (ASIC).

 

ASIC requires licensed companies to meet certain requirements and to comply with various rules. Australian forex brokers must hold at least $ 1 million in order to operate legitimately, to keep  clients’ money segregated trust accounts and to report transactions regularly.

 

Unlike other European brokers, however, Australian ones are not covered by any compensation scheme.

 

Trading Conditions

 

Trading Options: High/Low, High/Low Spread, Turbo, Turbo Spread

Assets:  Currencies, Indices and Commodities

Expiry Times: High/Low, High/Low Spread – from 15 min to 1 day 3

Turbo, Turbo Spread - from 30 seconds to 5 minutes

 

As you can see, popular trading options such as long-term binary options, One Touch, Ladder and Pairs are not available with HighLow. Also, there is no option to follow other traders, such as SpotFollow or iFollow.

 

On the other hand, this broker offers an unusual type of options that show a bid/ask spread, the standard method of price making in the forex markets. These are Turbo Spread and High/Low Spread options.

 

Minimum Initial Deposit

The minimum initial deposit for clients of HighLow is $50, which is a low initial amount. Many binary options brokers require $100 - $200 from traders as a start, and they are not even regulated.

 

Min. bet size

The minimum bet size with this broker is $10, which is average. By comparison, with mobile-only binary options broker NenX one can place a trade with just €1. A bet size as low as this allows lower-risk trades.

 

Payout amount

HighLow's payouts are expresses in their platform as decimal odds. In fact, this broker offers rather high payouts, those for Turbo Spread and High/Low Spreadwhich actually being among the highest in the industry, reaching 100%.  However, with those instruments traders have also pay a spread, as their name suggests.  This is how the broker gets paid for its services and is able to offer 100% returns.

 

On the other hand, the payout amount for HighLow’s non-Spread instruments is 88%, which is also attractive.

 

Trading Platform

 

HighLow uses its in-house web-based platform, which is also available as mobile applications for iPhone/iPad and Android devices. It is quite unique and easy to use at the same time.

 

 

Once an asset is selected, the chart below will update, showing current price levels, trader sentiment, payout and the expiry. The platform’s charts, however, are basic, lacking advanced technical analysis features.

 

Besides, the platform provides a sentiment indicator, Trader’s Choice, that allows users to monitor current trading trends in real time.

 

Promotions

HighLow currently offers up to $50 cashback on initial trades for new clients.  

 

Methods of Payment

 

There are several payment methods available to HighLow’ clients: Credit cards (Visa), bank wire and e-payment service Neteller. Other region-based methods are also available.

 

There is a $20 fee for international transfers to overseas bank accounts.  

 

Conclusion

 

HighLow is an ASIC-regulated binary options broker whose offerings are pretty unique in terms of instruments and platform. It offers 100% payouts but these instruments also include a spread. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros Cons
ASIC-regulated No long-term options, OneTouch, Ladder
Attractively high payout amounts Rather limited asset offering
Unique and easy to use trading platform  

 

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