XM – legit or scam?

Day Trading Community Scam Broker Check XM – legit or scam?

  • This topic has 6 replies, 2 voices, and was last updated 5 days ago by Del.
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    • #179384 Reply
      James Barra
      Moderator
        DayTrading.com Team

        Hi Del,

        Thank you for your message.

        Whilst no broker is ever fully ‘safe’, XM did score over 4/5 for Regulation & Trust in our review. This is because it’s well-established (it launched in 2009), it has a large client base (10+ million users), and it’s regulated by several respected bodies, two of which we consider ‘green tier’ regulators (ASIC in Australia and CySEC in Cyprus). XM is also authrorized by DFSA in Dubai, FSCA in South Africa and FSC in Belize.

        Having said that, it’s important to check which XM entity you will hold your funds with when you sign up. For example, if you trade through the offshore entity (authorized by the FSC) you may not receive the same level of regulatory protections, such as limits on leverage and access to compensation in the event the broker becomes insolvent.

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      • #179385 Reply
        Intraday Insider

          XM aren’t a scam. Loads of them out there so sensible to check but they be one of the legit ones buddy.

          Reply
        • #179416 Reply
          Tobias Robinson
          Moderator
            DayTrading.com Team

            Ensure you are definitely using XM.com

            We have received complaints regarding operators that have attempted to piggyback on the XM brand name. Their names (and website urls) are clearly different, but traders need to ensure they are signing up with the legitimate XM.com brand.

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            • #179651 Reply
              Del

                Can I check this is the right website https://www.xm.com/?XM website

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              • #179667 Reply
                James Barra
                Moderator
                  DayTrading.com Team

                  Hi Del,

                  That branding looks correct. However, if you want to be sure, the ‘Visit’ button in our XM review will take you straight to the correct website.

                  Reply
                • #179850 Reply
                  Del

                    Ok, thx James

                    Reply
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