Is XM a Scam?
Is XM a Scam?
Founded in 2009 and with more than a million clients, XM is without any doubt one of the powerhouses in the online trading industry. With a resume like that, it is quite safe to assume that this company can be trusted, but we still wanted to see which security features have been implemented here. In other words, we want to see for ourselves is XM a scam or a legit and reliable company. After spending considerable time trading on their website, we have familiarized ourselves with their security system and will tell you absolutely everything you need to know about in the rest of this text. Read on and see for yourself how a serious company operates.
Is XM a Scam? | Website reliability
We have tested out every available deposit and withdrawal method. Not a single problem ever occurred and no traces of XM scam were ever noticed. This is because the broker is extra careful when it comes to its clients’ funds which are kept in segregated accounts opened with investment-grade banks. You’ll be happy to know that your money (up to 20,000 euro) is also insured thanks to the Investor Compensation Fund, whereas Negative Balance Protection prevents you from losing more than you have in your account. Other parts of the website, like the trading platform and the customer support work flawlessly too, and the broker has a Verisign certificate to prove it. The company is even UNICEF’s Champion for Children! But there are other evidence that can help you decide is XM a scam. Stay with us to learn what they are.
XM Home Page
Is XM a Scam? | Licenses
You’ll be happy to know that XM is a fully regulated brokerage company on multiple fronts. Given that their headquarters are located in Cyprus, it’s not a big surprise that they have a CySEC license, and their license number is 120/10. However, the company is also registered with the FCA, IFSC, ASIC and even Dubai’s Financial Service Authority, which puts the company beyond any doubt. Furthermore, we have to say that everything on this website is done in full accordance with MiFID, a strict directive issued by the European Union. Therefore, in legal terms, this broker has absolutely everything a legit broker needs to have and more, so there really is no reason to waste time deliberating is XM a scam or not. Simply put, this is a very professional company that takes excellent care of its clients.
XM Regulation
Is XM a Scam? | Conclusion
As you can see, XM is definitely not a scam but a serious company that puts its clients’ interests above all else. The financial security is absolutely impeccable and the broker has all the necessary licenses and more, which makes trading here one of the safest investments you can make. For more than twelve years these people have been a part of the trading industry, which is quite an achievement. A scam broker simply cannot last that long, not even close. So if you want to be sure your trading partner will treat you well, just open an account on this website and you will always have a place you can visit when an investment opportunity arises.
Hello! I’m Mark Watson, born and raised in Scranton, PA. I’ve been investing online ever since I started college at the University of Pennsylvania (go, Quakers!), where I was an undergraduate student of Economics. At first, I didn’t invest much, I was just hoping to get some extra pocket money, but with time I realized how math and patterns can actually be of great help in this line of work.
After a few years, I moved to London School of Business and Finance to continue pursuing my career in investing, and I eventually landed a job at Credit Bank Europe. The experience I got there was invaluable, plus it assured me that online trading was something I want to do for a living. Sure enough, I became a trading manager in 2015 with FXVC Online Trading, but a little while later I started working on my biggest project so far – BinaryOptionsTrading-Review.com.
The website is still going strong, and we have analyzed hundreds of brokers from all trading fields so far and helped hundreds of readers make the right choice. We also publish trading signals on a regular basis, which have proven to be accurate about 80% of the time!
And since the online trading industry is only growing, with cryptocurrencies and other similar products entering the fray, I am incredibly excited about what the next few years have in store for us. In short, if you want advice from a passionate trader, you’ve come to the right place!