Pls can someone tell me if XM broker https://xm.com/ is safe to use?

Reply

Topic

[James BarraModerator 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.

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

[Tobias RobinsonModerator 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.

Reply

[Del]

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

Reply

[James BarraModerator 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

[Del]

Ok, thx James

Reply

[Author]

Replies