Review of XM Limited International Broker 2022: Advantages, Disadvantages

XM Global Limited is an international forex broker operating in Indonesia. Is it safe to block CoFTRA SWI OJK or not? What are the advantages and disadvantages of using an XM broker in forex trading? Fraud or illegal not. XM has the advantage of international legitimacy, with complete instrument trading capabilities in foreign exchange, stock CFDs, commodities, cryptocurrencies, with attractive features such as fixed price, stable spread, fast execution and instant execution withdrawals, but the drawback of XM broker is that it does not have a CoFTRA license in Indonesia, so will always be blocked by SWI OJK Minimum deposit at XM is $5, minimum trading 0.01 lot, leverage 1:888, spread 0.6 pips, commission $7 / lot. Below we will discuss about one of the online brokers, namely XM Indonesia. 

The discussion will cover how to register, login, features, pluses and minuses using this brokerage service. XM Indonesia Broker Overview XM Broker Name Market Maker Broker Type Website XM Global Limited Company Founded In 2009 Cyprus Headquarters CySEC regulator, ASIC Customer Service 24/5 Website languages Arabic, Bengali, Czech, Dutch, Filipino, French, German, Greek, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Vietnamese Local bank transfers (Mandiri, BCA, BNI, BRI and CIMB Niaga), credit/debit cards, Paypal, Payoneer, Neteller and UnionPay deposits and withdrawals. 

Trading instruments Stocks, CFDs, Forex, Commodities, Portfolios, Metals, Cryptocurrencies Spread 0.6 pips Minimum initial deposit $5 Account Currency USD, EUR, GBP, JPY, CHF, ? AUD, HUF, PLN, RUB, SGD, ZAR Leverage 1:888 Minimum Lot 0.01 Micro, Standard, Ultra Low and Stock Account Types Swap-free Account Yes Segregated Account Yes Hedging Yes Order Execution Yes Margin Call Yes What is XM Indonesia Broker XM Indonesia is part of XM Global Limited. XM Global Limited is a multi-asset broker that was founded in 2009 and has official regulations and offers a wide range of global services for FX, precious metals, oil, stocks, indices to cryptocurrencies. 

XM has a clientele of about 5 million traders and investors in 196 countries and is supported by 30 languages. XM Regulations, Permissions XM's operational license was obtained from two regulators, namely: Cyprus Securities and Exchange Commission (Cyprus) ASIC Australia CySEC, which is the regulatory authority for investment services companies in Cyprus. CySEC is a member of the European Securities and Markets Authority (ESMA) which stipulates that client funds are held in separate accounts from company accounts and held in trust accounts. This step makes client funds more secure and will not be used for other needs. 

Trading Account Types at XM 

XM offers various account types for traders to invest and buy forex on their platform: Features of Micro Standard Ultra Low Shares Min. Deposit 5 USD 5 USD 5 USD 10K USD Contract 1: 1000 1:100000 1:1000 1 share Leverage 1:888 1:888 1:888 No leverage Currency USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR SD, EUR, GBP, JPY, CHF,?AUD, HUF, PLN, RUB, SGD, ZAR EUR, USD, GBP, AUD, ZAR, SGD US$ Commission per lot  Yes Spread 1 pip 1 pip 0.6 pip As per bid-ask spread Instrument Products XM has more than 1000 financial instruments that can be traded on MetaTrader 4 and MetaTrader 5. 

Instruments that can be traded on XM include: Trading Forex, Commodities CFDs, Stock CFDs, Precious Metals CFDs, Index Fund CFDs and Energy CFDs. Over 55 Forex currency pairs. CFD commodities such as chocolate, wheat, sugar, etc. Share CFDs A tradable cryptocurrency has 600 company shares available 24 hours a day, 5 days a week. How to Register, Login at XM Indonesia To open an account at XM Indonesia, you must first register on the official XM website and follow the steps below: Fill in your name, email address, phone number and country of residence. Enter your personal information, mostly your date of birth and your current address. XM Group will determine the trading account and rules that you will follow and comply with. 

Choose the trading platform you prefer and the type of account you want to use from now on. You will need to provide your financial information, which includes deposit and withdrawal method options, and you will need to answer some questions about your financial background and knowledge. XM wants to make sure you understand the risks and rewards of trading, before logging into an account. You will need to verify your identity, with an identification form, and proof of residency. To verify your identity, you will need to upload a copy of all forms of identification such as: ID card, passport and/or driver's license. As for proof of residence, bank statements and bills are accepted as proof of your current residence.

Trading Platforms There are various choices of XM platforms, namely: MT4; XM offers MetaTrader 4 for Windows and Mac, as well as for Android and iOS mobile platforms. MT5; Equipped with the best features of MT4, MetaTrader5 is more flexible and has many features. XM offers MT5 for Mac OS, Windows and as well as Android and iOS. Deposits and Withdrawals at XM The minimum deposit amount for XM Indonesia is $5. XM Indonesia does not charge any deposit fees. You can deposit via local bank transfer (Mandiri, BCA, BNI, BRI, CIMB Niaga), credit/debit card, Paypal, Payoneer, Neteller and UnionPay. 

Deposits can be made in any currency and are converted to the base currency of your choice upon account opening. Withdrawals, Withdrawal Fees and payment methods The minimum withdrawal amount is $5. No fees, and can use local bank transfer methods, credit/debit cards, Paypal, Payoneer, Neteller and UnionPay. 

To withdraw funds, click the “Withdraw” button on the Account page. After logging into the account, click “Withdraw” on the menu, select a withdrawal method similar to the deposit method and enter the amount you wish to withdraw. It will take at least 2 – 5 working days for fund withdrawal using local bank transfer and credit/debit card Commissions and Fees Forex. Spreads around 1 pip on all major currency pairs. 

Lower spreads may opt for Ultra Zero Account. Here, the average spread is 0.1 pip on the major currency pairs, but there is a $3.5 commission fee per side, per $100,000 traded. Share. The fee depends on the bid-ask spread of the share price. There is a 0.1% commission on the UK, France and Germany markets and a 0.04% commission on the US market. The minimum spread for commodities is 0.0009 and the maximum spread is 15 pips. Index Fund. The minimum spread is 0.6 and the maximum is 18 pips depending on the type of index fund being traded. Commission. No commission for. However, commission is charged for Ultra Zero Accounts and Shares. Rollover Fee. This interest fee is charged on overnight positions. 

For forex, the rollover fee depends on the type of position taken (ie long or short) and the difference in exchange rates between currencies. For stocks and index funds, the rollover fee depends on the long or short position. Inactive fees. XM charges a $5 inactivity fee per month, provided that the account is inactive for 90 days, and the balance is less than $5. If the account balance is $0, no fees will be charged. Trading Platform Features Some of the interesting features offered are as follows: 

1. Fees and Transaction 

Spreads Account at XM without commission and apply spreads. Only 1 account type at XM, which applies commission. The choice of account, spread or commission helps clients choose the type that best suits their needs. 

2. Leverage 

Customers can enjoy leverage levels up to 1:888. Quite high, although not the highest. However, it is important to note that leverage conditions may vary in each country. You need to check the leverage regulations for each country. 

3. Low Minimum Deposit 

It is very easy for traders to open an account. The minimum deposit to open an account starts at $5. The low deposit makes traders' access more open. Including beginners who have limited funds but want to try their hand in the world of Forex trading. 

4. Withdrawal and Deposit 

XM provides various methods of withdrawal and deposit of money. Available include (Mandiri, BCA, BNI, BRI and CIMB Niaga), Credit/Debit Cards, Paypal, Payoneer, Neteller and UnionPay. Can make deposits and withdrawals in Rupiah. on this case, all of the deposit amount will be convert into USD or EUR according to the central bank exchange rate in effect at the time the deposit was processed. There is an option to transfer and withdraw rupiah through different accounts in Indonesian banks, namely (Mandiri, BCA, BNI, BRI and CIMB Niaga).

5. Charts 

There are different types of charts and indicators to perform technical analysis. 

6. News and Market Updates 

There are real-time news updates and market conditions in the app. Important information for traders taking positions. 

7. Features for Beginners 

XM is not the first broker to provide the features below. However, they provide very useful material for beginners so that they can better educate beginners to make it easier to understand. 

a. Educational Materials The available educational materials are divided into 3 levels of experience and are also shown through videos or by conducting webinars in various languages. 

b. Material Analysis The available material is presented in the form of an analytical blog on the latest and upcoming trends in the CFD (Contract for Difference) market until the economic calendar becomes available. 

c. Customer Service Support This support includes 24/7 telephone, callback service, chat to email. 

Advantages of XM 

XM has the advantage of offering small spreads and a low minimum deposit. Allows traders to start at XM without having a large capital. The small amount of capital will also allow novice traders to enter the forex market through XM. The wide choice of accounts makes investors have many options. You can choose the type of account that best suits everyone's goals and financial condition. The division of accounts into standard for beginners and professionals shows that XM understands that beginners and professionals have different account needs. Currently, XM provides more than 120 currency pairs. 

A large amount of foreign currency. The variety of forex options for trading allows investors to form portfolios with effective diversification. Lastly, last but not least, is that XM has customer service through various information channels, such as email, live chat and telephone. CS services are also provided in Indonesian. This CS service is very important for traders in Indonesia because XM does not have a representative in Indonesia, everything is online, so easy-to-reach CS services are very important.

Weaknesses of XM Obviously, 

the absence of permission from CoFTRA makes the XM site always get blocked if it is opened in Indonesia. Customers from Indonesia cannot open the XM site because it is blocked by OJK SWI. Indeed, XM is always creative with creating new sites with different addresses to circumvent the block. However, the new site has a short life because in every wave of blocking by SWI OJK, it will be blocked again. So far, XM itself is still aggressively pursuing forex customers from Indonesia. It can be seen from the advertisements and marketing campaigns that continue to be carried out, with various attractive promos.

 XM, Illegal Scam or Not Seeing his work as an international forex broker, XM does not seem to be a fraud or illegal. This broker is legit with legality from a number of countries, which is known to be strict in social regulations and provisions of forex trading brokers. But, again, we must study well - DYOR do Your Own Research - before deciding to jump into forex trading. Forex is an instrument that has no small risk.

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