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XM review

XM Review

Overall XM is considered low-risk, with an overall Trust Score of 90 out of 100. They are licensed by one Tier-1 Regulator (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). XM offers four retail trading accounts: a Micro Account, a Standard Account, an Ultra-Low Account, and a Shares Account. 

Updated : November 21, 2023

Jump to:

Overview

Regulation and Safety of Funds

Awards and Recognition

Account Types and Features

Account Registration

Broker Comparison

Trading Platforms

Range of Markets

Fees

Deposit and Withdrawels

Education and Research

Bonuses and Promotions

Affiliate Programs

Customer Support

Social Responsibility

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

5 USD / 78,575 IDR

Regulators

FSCA, IFSC, ASIC, CySEC, DFSA

Trading Desk

MetaTrader 4, MetaTrader 5, XM Mobile App

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread)

Account Activation

24 Hours

Overview 

Overview 

 

The broker provides a frictionless experience for traders while emphasizing key features that differentiate it from other companies in the sector. Traders can effortlessly manage their funds thanks to various deposit and withdrawal methods.

 

Additionally, withdrawals are typically processed within twenty-four hours and do not incur any hidden fees.  

 

Flexible trading strategies can be implemented thanks to the competitive spreads, which can be as low as 0.7 pips on major currency pairs, as well as the option to choose between fixed and variable spreads. 

 

One of the most notable aspects of the broker is the high leverage, which can reach up to 1:1000. This enables traders to control large positions while only requiring a relatively small amount of capital.  

 

In addition to this, there is a broad selection of over 1,429 tradable instruments, which can be used to trade things like cryptocurrencies, commodities, indices, and 55 forex pairs.  

 

Incentives are added for new and existing clients through the cashback rebate program, based on trading volumes, and various bonuses, such as a deposit and a 30 USD No-Deposit Bonus. 

 

Distribution of Traders

Distribution of Traders

 

The broker currently has the largest market share in these countries:

➡️ Thailand – 24.09%

➡️ Philippines – 11.77%

➡️ Singapore – 7.84%

➡️ Colombia – 4.6%

➡️ South Africa – 3.77%

 

Popularity among traders

XM is a large and reputable forex and CFD broker that ranks in the Top 10 in Indonesia. 

 

 

In which countries does the broker operate? 

They operate in over 190 countries, giving traders global access. 

 

Can I access the broker’s platform from any device globally? 

Yes, the broker’s platforms can be accessed via various devices, including mobile, allowing global access.

At a Glance

🏛 HeadquarteredBelize
✅ Global OfficesBelize, South Africa, Australia, Cyprus, Dubai
🗓 Year Founded2009
📞 Indonesia Office Contact NumberNone
🤳 Social Media PlatformsFacebook, Twitter, YouTube, Instagram, LinkedIn
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA, FCA
🪪 License NumberBelize – 000261/158
South Africa – 49976
Australia – ABN 32 164 367 113, AFSL 443670
Cyprus – 120/10
Dubai – F003484
United Kingdom – 705428
⚖️ BAPPEBTI RegulationNo
🚫 Regional RestrictionsThe United States, Canada, Israel, the Islamic Republic of Iran
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts4
📊 PAMM AccountsNo
🤝 Liquidity ProvidersUnknown
💸 Affiliate ProgramYes
📲 Order ExecutionMarket, Instant
📊 Average spreadFrom 0.7 pips
📞 Margin Call50% to 100% (EU)
🛑 Stop-Out20% to 50% (EU)
✅ Crypto trading offered?Yes
💰 Offers a IDR Account?No
👨‍💻 Dedicated Indonesia Account Manager?No
📊 Maximum Leverage1:1000
🚫 Leverage Restrictions for Indonesia?No
💰 Minimum Deposit5 USD / 78,575 IDR
✅ IDR Deposits Allowed?No
📊 Active Indonesia Trader Stats200,000+
👥 Active Indonesia-based XM customersUnknown
💳 Indonesia Daily Forex Turnover13.1 billion USD
💵 Deposit and Withdrawal OptionsCredit Card, Debit Card, Bank Wire Transfer, Local Bank Transfer, Skrill, Neteller, WebMoney
🏦 Segregated Accounts with Indonesian Banks?No
📊 Trading PlatformsMetaTrader 4, MetaTrader 5, XM Mobile App
✔️ Tradable AssetsForex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Individual Shares, Turbo Stocks
💸 Offers USD/IDR currency pair?No
📈 USD/IDR Average SpreadNone
📉 Offers Indonesian Stocks and CFDsNo
🗣 Languages supported on WebsiteEnglish, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/7
👥 Indonesia-based customer support?No
✅ Bonuses and Promotions for Indonesia TradersYes
📚 Education for Indonesian beginnersYes
📱 Proprietary trading softwareYes
💰 Most Successful Trader in IndonesiaSeveral – Richest, Dadap Kuswoyo ($68,100 profit)
✅ Is XM a safe broker for Indonesian traders?Yes
📊 Rating for XM Indonesia9/10
🤝 Trust score for XM Indonesia90%
🎉 Open an accountOpen Account

Safety and Security 

Safety and Security 

 

Regulation in Indonesia 

The broker is not currently regulated by the Commodity Futures Trading Regulatory Agency (BAPPEBTI/CoFTRA).

 

Security while Trading 

➡️ The broker is regularly subjected to internal and external audits to ensure compliance with industry standards and regulatory requirements. These audits help maintain the trading platform’s integrity and protect clients’ interests. 

➡️ They offer a variety of risk management tools, such as stop-loss and limit orders, to help traders manage their risk exposure. These tools are critical for mitigating potential losses and safeguarding investments. 

➡️ The broker’s dedicated customer support team can address security concerns or issues. The availability of support adds to the platform’s overall sense of security and trustworthiness. 

➡️ To encrypt all data transmitted between the client and server, they use Secure Socket Layer (SSL) technology. This encryption protects sensitive information such as login credentials, personal information, and financial transactions from unauthorized access. 

➡️ They provide two-factor authentication for added security, requiring an additional verification step when logging in. This additional layer of protection helps to prevent unauthorized access to trading accounts. 

➡️ The broker is governed by two Tier-1 regulatory bodies: the Australian Securities and Investment Commission (ASIC), the Financial Conduct Authority (FCA), and the European Union through MiFID. XM maintains high levels of integrity and transparency by adhering to these regulatory standards. 

➡️ Client funds are kept separate in reputable banks in segregated accounts. This separation keeps client funds separate from the company’s operational funds, adding an extra layer of security. 

➡️ Negative balance protection is provided by XM, which ensures that traders cannot lose more money than they have deposited in their accounts. This feature provides extra security, especially when trading with high leverage. 

 

Do any financial authorities regulate the broker? 

Yes, they are regulated by multiple authorities, including ASIC, FCA, DFSA, FSCA, CySEC, and IFSC, to ensure industry compliance. 

 

How can I ensure the security of my account? 

Using strong passwords, two-factor authentication, and adhering to the broker’s security guidelines can help to improve account security. 

Awards and Recognition 

Awards and Recognition 

 

The broker received the following recent awards and recognition: 

➡️ Best FX Customer Service in 2023, awarded by the World Finance Forex Awards. 

➡️ Best FX Broker in Europe, awarded by the World Finance Forex Awards in 2023. 

➡️ Best FX Broker in Australasia in 2023, awarded by the World Finance Forex Awards. 

➡️ Best FX Broker in Latin America in 2023, awarded by the World Finance Forex Awards. 

➡️ Best FX Broker in the Middle East in 2023, awarded by the World Finance Forex Awards. 

➡️ Best Customer Support Globally for 2023, awarded by CFI.co (Capital Finance International Magazine). 

➡️ Best CFD Provider in 2023, awarded by the City of London Wealth Management Awards. 

➡️ The Best Crypto CFDs in Egypt in 2022, awarded during the Financial Expo. 

 

Has the broker received any awards for its services?

Yes, the broker has received numerous awards and recognition for its exceptional services in the financial industry. These awards include accolades for its customer service, trading platforms, educational resources, and overall excellence.

 

What awards has the broker won?

The broker has received awards from well-known organizations such as the World Finance Forex Awards, Global Banking & Finance Review, and the Forex Awards, among others. These awards often recognize XM as a leader in areas like customer satisfaction, trading execution, and educational resources.

XM Account Types and Features 

XM Account Types and Features 

 

Micro Account 

The Micro account is designed for Indonesian novice traders who want to test their trading strategies in the currency markets while making a small initial deposit.  

 

This account type allows you to trade 1 lot, equal to 1,000 currency units – a much smaller size than the standard lot of 100,000 currency units. 

Account FeaturesValue
💰 Minimum Deposit Requirement5 USD / 78,575 IDR
📊 Average spreads1.7 pip EUR/USD
💸 Commissions chargedNone
💱 Base Currency OptionsUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📈 Leverage RatiosAccount balance of $5 – $20,000 = 1:1 to 1:888

$20,001 to $100,000 = 1:1 to 1:200

$100,001+ – 1:1 to 1:100
💵 Minimum Trading Volume MetaTrader 40.01 lots
💰 Minimum trade volume MetaTrader 50.01 lots
💳 Lot Restrictions per trade out100 lots
📞 Maximum open or pending orders per trader300 lots
✔️ Is an Islamic Account offered?Yes
🎉 Open an accountOpen Account

 

Standard Account 

The Standard account, which is available across all XM Group entities, caters to Indonesian investors who prefer simple trading based on bid-and-ask prices without the burden of additional fees. 

Account FeaturesValue
💰 Minimum Deposit Requirement5 USD / 78,575 IDR
📊 Average spreads1.7 pip EUR/USD
💸 Commissions chargedNone
💱 Base Currency OptionsUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📈 Leverage RatiosAccount balance of $5 – $20,000 = 1:1 to 1:888

$20,001 to $100,000 = 1:1 to 1:200

$100,001+ – 1:1 to 1:100
💵 Minimum Trading Volume MetaTrader 40.01 lots
💰 Minimum trade volume MetaTrader 50.01 lots
💳 Lot Restrictions per trade out50 lots
📞 Maximum open or pending orders per trader300 lots
✔️ Is an Islamic Account offered?Yes
🎉 Open an accountOpen Account

 

Ultra-Low Account 

The Ultra Low account, designed specifically for Indonesian traders, offers highly competitive pricing, particularly for currency pair trading.  

 

This account features spreads as low as 0.7 pips and no commissions. It should be noted, however, that the Ultra-Low account cannot be accessed through the CySEC-regulated entity in Cyprus. 

Account FeaturesValue
💰 Minimum Deposit Requirement5 USD / 78,575 IDR
📊 Average spreads0.7 pips EUR/USD
💸 Commissions chargedNone
💱 Base Currency OptionsEUR, USD, GBP, AUD, ZAR, SGD
📈 Leverage RatiosAccount balance of $5 – $20,000 = 1:1 to 1:888

$20,001 to $100,000 = 1:1 to 1:200

$100,001+ – 1:1 to 1:100
💵 Minimum Trading Volume MetaTrader 4Standard Ultra – 0.01 lots

Micro Ultra – 0.1 lots
💰 Minimum trade volume MetaTrader 5Standard Ultra – 0.01 lots

Micro Ultra – 0.1 lots
💳 Lot Restrictions per trade outStandard Ultra – 50 lots

Micro Ultra – 100 lots
📞 Maximum open or pending orders per trader300 lots
✔️ Is an Islamic Account offered?Yes
🎉 Open an accountOpen Account

 

Shares Account 

The Shares account is available to Indonesian traders who want to gain exposure to global corporations and banks. Traders become shareholders in this account and are entitled to dividends proportionate to their investment.  

 

The Shares account has no leverage and uses the MT5 interface. Remember that this account type is only available to entities regulated by the Belize FSC. 

Account FeaturesValue
💰 Minimum Deposit Requirement10,000 USD / 155,130,000 IDR
📊 Average spreadsAccording to the exchange
💸 Commissions chargedFrom $1 per share
💱 Base Currency OptionsUSD
📈 Maximum Leverage RatioNone
💵 Minimum Trading Volume MetaTrader 41 lot
💰 Minimum trade volume MetaTrader 51 lot
💳 Lot Restrictions per trade outIt will depend on each share
📞 Maximum open or pending orders per trader50 lots
✔️ Is an Islamic Account offered?Yes
🎉 Open an accountOpen Account

 

Demo Account 

Account Types and Features Demo Account 

 

Opening a risk-free demo account can give Indonesian traders a first-hand look at the offerings and services. This trial account simulates a real trading environment, allowing new traders to hone their skills while avoiding financial risk.  

 

Furthermore, using a free, long-term demo account, traders can use the trading interface to investigate pricing on various forex, indices, stocks, and commodities. However, if the account remains inactive for three months, the unlimited demo account will expire. 

 

Islamic Account 

Account Types and Features Islamic Account 

 

In Indonesia, clients can use the MetaTrader 4 or MetaTrader 5 trading platforms. Trading Point of Financial Instruments Ltd. (Cyprus) account holders can choose between three trading accounts: the Micro Account, Standard Account, and Ultra-Low Account.  

 

They also offer an Islamic Account option for each account type, with the added benefit of no additional charges for Islamic accounts – a departure from the norm, where brokers frequently charge administrative fees instead of swaps on such accounts. 

 

What types of accounts does the broker offer? 

The broker provides a variety of account types, including Micro, Standard, Shares, and XM Ultra-Low accounts, to meet various trading needs. 

 

Are there any unique features in the accounts? 

Yes, the accounts include benefits such as negative balance protection, flexible leverage, and no re-quotes. 

How to open an XM Account – A Step-by-Step Guide 

To open an account, Indonesians can follow these steps: 

 

👉  Step 1 – Visit the official website of XM.

Visit the official XM website. 

How to open an XM Account - A Step-by-Step Guide Step 1

 

👉 Step 2 – Click on the “start” button.

Click on the “start” button and choose between a real and a demo account.

How to open an XM Account - A Step-by-Step Guide Step 2

 

👉 Step 3 – Fill out the form.

Fill out the online registration form with your personal information, including your name, email address, phone number, and country of residence. 

How to open an XM Account - A Step-by-Step Guide Step 3

XM VS Windsor Brokers VS OANDA – Broker Comparison

XMWindsor BrokersOANDA
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA, FCAFSC, CySEC, JSC, FSA, CMAIIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, BVI FSC
📱 Trading PlatformMetaTrader 4

MetaTrader 5

XM Mobile App
MetaTrader 4

Windsor Brokers App
MetaTrader 4

MetaTrader 5

OANDA Platform

TradingView
💰 Withdrawal FeeNoYesYes, bank wire
📊 Demo AccountYesYesYes
📈 Minimum Deposit5 USD / 78,575 IDR10 USD / 157,151 IDR0 USD / 0 IDR
📈 Leverage1:10001:5001:200
📊 Spread0.7 pips0.0 pipsVariable, from 0.1 pips
💰 Commissions$1 to $9$8 Round Turn$40
✴️ Margin Call/Stop-Out50%/20%,

100%/50% (EU)
100%/20%100%/ 50%
✴️ Order ExecutionMarket, InstantMarket/InstantMarket
💳 No-Deposit BonusNoYesNo
📊 Cent AccountsNoNoYes
📈 Account TypesMicro Account

Standard Account

XM Ultra-Low Account

Shares Account
MT4 Zero Account

MT4 Prime Account

VIP ZERO
Standard Account

Core Account

Swap-Free Account
⚖️ BAPPEBTI RegulationNoNoNo
💳 IDR DepositsNoNoYes
📊 IDR AccountNoNoNo
👥 Customer Service Hours24/724/524/5
📊 Retail Investor Accounts433
☪️ Islamic AccountYesYesYes
🎉 Open an accountOpen AccountOpen AccountOpen Account

Overall Rating

Min Deposit

5 USD / 78,575 IDR

Regulators

FSCA, IFSC, ASIC, CySEC, DFSA

Trading Desk

MetaTrader 4, MetaTrader 5, XM Mobile App

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread)

Account Activation

24 Hours

Trading Platforms 

Trading Platforms

 

The broker offers Indonesian traders a choice between these trading platforms: 

➡️ MetaTrader 4 

➡️ MetaTrader 5 

➡️ XM Mobile App 

 

MetaTrader 4 

Trading Platforms MT4

 

The broker offers MetaTrader 4, widely regarded as one of the most popular trading platforms, to Indonesian traders. It has an easy-to-use interface and powerful trading tools, with some of the following unique features: 

➡️ Customizable Interface: Traders can customize the platform’s layout to their liking. 

➡️ Multi-Language Support: MT4 supports various languages, catering to a wide range of users. 

➡️ Technical Analysis: MT4 includes advanced charting tools such as time frames, indicators, and drawing tools. 

➡️ Security: Two-factor authentication and encrypted data exchange ensure a safe trading environment. 

➡️ Trading Strategies Can Be Automated: Using Expert Advisors (EAs), traders can automate their trading strategies. 

 

MetaTrader 5 

Trading Platforms MT5

 

MetaTrader 5, an improved version of MT4, includes new features and trading instruments. It is appropriate for both new and experienced traders in Indonesia and has the following unique features: 

➡️ Hedging and Netting: Both hedging and netting are supported by MT5, allowing for more flexible trading strategies. 

➡️ An integrated economic calendar provides information about market events and news. 

➡️ Improved Charting Tools: Improved charting tools allow for more in-depth analysis. 

➡️ Multi-Asset Trading: Invest in a broader range of financial instruments, such as stocks and commodities. 

➡️ More Time Frames and Indicators: Unlike MT4, MT5 has more time frames and technical indicators. 

 

Mobile App 

Trading Platforms Mobile App

 

The app gives Indonesian traders a mobile trading experience, allowing them to trade on the go. It works with both Android and iOS devices. The XM app has some of the following unique features: 

➡️ Secure Access: Use fingerprint or face recognition to log in securely (depending on device compatibility). 

➡️ Notifications and Alerts: Get real-time notifications and alerts about price changes and account updates. 

➡️ Charting and Analysis Tools: Access essential charting and analysis tools using the app. 

➡️ Execute trades, manage positions, and access real-time quotes with full trading functionality. 

➡️ User-Friendly Interface: The interface is intuitive and simple to use, designed for mobile use. 

 

Can I use the platforms on mobile devices? 

Yes, MetaTrader 4, MetaTrader 5, and the app for various devices are available. 

 

Are the trading platforms customizable? 

Yes, the MetaTrader platforms from the broker provide extensive customization options, such as indicators, charts, and trading tools.

Range of Markets

Range of Markets

 

Indonesian traders can expect the following range of markets: 

➡️ Forex 

➡️ Cryptocurrencies 

➡️ Stock CFDs 

➡️ Commodities 

➡️ Equity Indices 

➡️ Precious Metals 

➡️ Energies 

➡️ Individual Shares 

➡️ Turbo Stocks 

 

Can I trade global markets? 

Yes, the broker gives you access to major global markets, allowing you to conduct international trade. 

 

Are there any market restrictions? 

Depending on regulatory requirements and geographic location, some market restrictions may apply. 

Broker Comparison for a Range of Markets

XMWindsor BrokersOANDA
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoYesNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesNo
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoYes

XM Fees, Spreads, and Commissions 

XM Fees, Spreads, and Commissions 

 

Spreads 

The broker’s spreads vary depending on the account type and the traded asset.

 

Commissions 

The commission fees will differ depending on the type of account and the item exchanged. For example, fees on forex and CFD transactions are typically waived for the Micro, Ultra-Low, and Standard Accounts because a markup is added to the spread to cover the broker’s fee. 

 

However, on the Shares Account, traders can expect commissions from $1 on shares such as Amazon, Apple, and others. Furthermore, commissions vary between shares and can go up to $9 per share on Sainsbury, Burberry, BATobacco, and many others. 

 

Overnight Fees 

To determine the cost of holding an overnight position, traders must consider various factors, including the type of financial instrument being traded, the position’s direction (long or short), the amount of money involved, and so on.  

 

These variables can impact the position’s overall trading costs and profitability. When trading with them, traders must understand and consider these factors.

 

Deposit and Withdrawal Fees 

Indonesian traders do not pay deposit or withdrawal fees. 

 

Inactivity Fees 

If a live trading account becomes dormant after 12 months, a $15 maintenance fee is charged to the account, followed by a monthly $5 inactivity fee. 

 

Currency Conversion Fees 

When Indonesian traders deposit or withdraw in currencies other than their account currency, they could face currency conversion fees. 

 

Does the broker charge commissions? 

Yes, Certain account types, such as the XM Shares account, are subject to commissions, while others are not. 

 

                

The full fee schedule, including spreads and commissions, is available on their website. 

XM Deposits and Withdrawals 

XM Deposits and Withdrawals

 

The broker offers Indonesian traders the following deposit and withdrawal methods: 

➡️ Credit Card 

➡️ Debit Card 

➡️ Bank Wire Transfer 

➡️ Local Bank Transfer 

➡️ Skrill 

➡️ Neteller 

➡️ WebMoney 

 

What deposit methods does the broker accept? 

The broker accepts credit cards, e-wallets, and bank transfers as deposit methods. 

 

Are there any fees for deposits and withdrawals? 

There are no fees for deposits or withdrawals, but third-party fees may apply.

How to make a Deposit with XM 

To deposit funds into an account, Indonesian traders can follow these steps: 

 

👉 Step 1 – Click on the login button.

Log in to the XM Members Area on the website or app to access your account. 

How to make a Deposit with XM Step 1

 

👉 Step 2 – Locate the deposit section.

Locate the deposit section in the account dashboard or financial management section. 

 

👉 Step 3 – Choose a deposit method.

Select your preferred deposit method from the list of options, which includes credit/debit cards, electronic wallets, and bank transfers. 

How to Withdraw from XM 

To withdraw funds from an account, Indonesian traders can follow these steps: 

 

👉 Step 1 – Log into your account.

Log in to the XM Members Area to access your account. 

How to Withdraw from XM Step 1

 

👉 Step 2 – Go to the withdrawal section.

Locate the withdrawal section in the account dashboard or financial management area. 

 

👉 Step 3 – Choose a withdrawal method.

Select your preferred withdrawal method, which is frequently the same as your deposit method. 

Overall Rating

Min Deposit

5 USD / 78,575 IDR

Regulators

FSCA, IFSC, ASIC, CySEC, DFSA

Trading Desk

MetaTrader 4, MetaTrader 5, XM Mobile App

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread)

Account Activation

24 Hours

Education and Research 

Education and Research 

 

The broker offers the following Educational Materials to Indonesian traders: 

➡️ XM Live 

➡️ Live Education 

➡️ Live Education Schedule 

➡️ Educational Videos 

➡️ Forex Webinars 

➡️ Platform Tutorials 

➡️ Forex Seminars 

➡️ Offline Trading Courses

 

The broker also offers Indonesian traders the following additional Research and Trading Tools: 

➡️ Trading Tools 

➡️ MQL5 

➡️ Forex Calculators 

➡️ Markets Overview 

➡️ News Feed 

➡️ XM Research 

➡️ Trade-Ideas 

➡️ Technical Summaries 

➡️ Economic Calendar 

➡️ XM TV 

➡️ Podcasts 

➡️ XM Discover 

 

Are the broker’s educational materials suitable for beginners? 

Yes, the broker provides educational materials for traders of all skill levels, from novice to advanced. 

 

Can I access their research and analysis for free? 

Yes, all registered clients have free access to their research, market analysis, and insights. 

Bonus Offers and Promotions 

Bonus Offers and Promotions

 

The broker offers Indonesian traders the following bonuses and promotions: 

➡️ Traders who sign up are greeted with a $30 credit in their account, regardless of whether they make an initial deposit. Furthermore, a tempting 50% deposit bonus and a 20% deposit bonus, with a cap of $4,000, contribute to increasing trading capital. 

➡️ The Gala Event 2023 is a standout event on the brokers calendar, a platform-wide celebration that allows traders to compete for incredible prizes worth more than $30,000. 

➡️ An exciting “Trade and Win” initiative awaits those already members of the community, offering the opportunity to participate in contests and events that promise excitement and potential rewards. 

➡️ The Referral Program and Loyalty Bonus for XM Radio fans demonstrate the platform’s commitment to cultivating a sense of community and appreciation among traders. 

➡️ Furthermore, deposits and withdrawals of up to $200 made via major credit cards, electronic payment providers, or bank wire transfers are fee-free, demonstrating XM’s commitment to facilitating seamless financial transactions for eligible traders. 

 

What types of bonuses does the broker offer? 

They provide a variety of bonuses, such as welcome bonuses, no-deposit bonuses, and loyalty rewards. 

 

How can I claim a bonus from the broker? 

Bonuses can be obtained by logging into the client portal or following promotional instructions. 

How to open an Affiliate Account with XM 

To register an Affiliate Account, Indonesian traders can follow these steps: 

 

👉 Step 1 – Go to the “Affiliates” section.

Navigate to the “Affiliates” section of the official XM website. 

How to open an Affiliate Account with XM Step 1

 

👉 Step 2 – Fill out the form.

Select “Join Now” and fill out the online application form. This includes providing personal and contact information and selecting preferred payment methods and account currency. 

How to open an Affiliate Account with XM Step 2

Affiliate Program Features 

Affiliate Program Features 

 

The Affiliate Program features an extensive Partner Program tailored for affiliates, brimming with various benefits and features. These are some examples: 

➡️ The broker’s ethos continues to place a premium on client security and fund protection. A sub-partner program also allows affiliates to supplement their earnings and receive incentives through their affiliate marketing efforts. This increases the possibility of generating multiple streams of income. 

➡️ The Partner Program also includes strong client retention, freedom from weekly commission earning limits, prompt disbursements, and the added benefit of a dedicated Personal Account Manager. 

➡️ They regularly hold contests and offer ongoing incentives and rewards, resulting in the acquisition of new clients and an increase in trading activity. Furthermore, the platform provides affiliates with various promotional resources and real-time data and analytics. 

➡️ Commission rates can reach up to $25 per lot for clients referred by affiliates. 

➡️ The ability to transfer funds between Introducing Broker (IB) and client accounts without incurring additional fees, combined with limitless earning potential. 

 

What commission structure does the affiliate program offer? 

Depending on the affiliate’s performance and agreement, the affiliate program offers a variety of commission structures, including CPA and revenue share. 

 

How can I track my performance as an affiliate? 

The broker provides tracking tools and detailed reports to affiliates to monitor performance, conversions, and earnings. 

Customer Support

⏳ Operating Hours24/5
📚 Support LanguagesEnglish, Chinese, Russian, French, Italian, Spanish, Portuguese, Polish, Arabic, and more
💬 Live ChatYes
💻 Email AddressYes
☎️ Telephonic SupportYes
✔️ The overall quality of XM Support5/5

 

What issues can the customer support assist with? 

The support team can help with account-related questions, technical issues, trading inquiries, etc. 

 

Can I get localized support? 

Yes, the broker provides localized support in various languages and regions to meet the needs of its clients.

Corporate Social Responsibility 

Corporate Social Responsibility 

 

In pursuing equal opportunities, the broker continues engaging in humanitarian efforts with cross-cultural, religious, and ethnic boundaries.  

 

With a mission to uplift individuals and assist them in reaching their full potential, they are dedicated to making a positive difference in people’s lives worldwide. 

 

Education and Skill Development: Making Knowledge Available 

The broker takes pride in initiating projects that promote educational access and vocational skills development. As a result, the company enables individuals to broaden their horizons and secure brighter futures for themselves and their communities. 

 

Fostering Innovation for the Greater Good through Research and Development 

As part of its corporate social responsibility, the broker invests in research, development, and innovation initiatives that benefit society. The dedication to progress extends beyond financial growth, highlighting XM’s commitment to a more inclusive and advanced world. 

 

International Aid Provides Global Outreach 

Collaboration with domestic and international human aid foundations expands XM’s global impact. By collaborating with these organizations, XM hopes to address pressing issues, provide relief, and foster long-term change in the lives of those in need. 

 

A Look at Humanitarian Missions 

Their dedication to making a positive difference is demonstrated by several recent initiatives that embody its core values: 

➡️ Bringing Joy During Ramadan: Working with Baznas Indonesia, XM distributed ‘Happy Ramadan’ packages to needy families, easing their burdens during the holy month. 

➡️ XM’s donation to the Sulabha Trust supported special education for children with special needs in India, emphasizing the importance of inclusivity. 

➡️ ‘Talent for Good’ Charity Open Mic Night: XM employees showcased their musical talents to support El Sistema Greece and Sistema Cyprus, demonstrating the unifying power of music. 

➡️ Shoe Donation for Refugees: XM donated shoes to vulnerable groups as part of its gold sponsorship of the Pournara First Reception Centre, providing stability and hope. 

➡️ Aid for Malaysian Flood Victims: Through a collaboration with We Listen Malaysia, XM’s donation provided relief to flood victims in Johor, addressing their immediate needs following natural disasters. 

➡️ Clothing Drive for Change: XM’s collaboration with organizations such as PASYKAF and Theofilos made a difference in people’s lives by providing clothing to those in need, particularly cancer patients. 

➡️ Sponsorship of Life-Saving Surgery: XM’s collaboration with Heartbeat Vietnam resulted in the sponsorship of heart surgery, giving a new lease on life to a toddler with a congenital heart condition. 

 

Does the broker engage in charitable activities as part of its Corporate Social Responsibility?

Yes, the broker is actively involved in charitable initiatives as part of its Corporate Social Responsibility efforts. They have supported various causes, including education, health, and disaster relief, through donations and partnerships with charitable organizations.

 

What steps has the broker taken to promote environmental sustainability as part of its CSR initiatives?

The broker is committed to environmental sustainability. They have implemented measures to reduce their carbon footprint, including energy-efficient practices and eco-friendly office operations.

Verdict

They stand out in our experience as a top-tier broker that provides a comprehensive and satisfying trading experience. Innovative trading platforms and the XM app, offer powerful tools and quick execution.

 

Competitive trading conditions, clear schedules, and excellent customer service improve the overall experience.

Top 10 Forex Brokers

Broker

Rating

Regulators

Min Deposit

Leverage

Website

1

8/10

ASIC, FSA

$100

1:400

2

9/10

FSCA, FSA, CySEC, FCA, CBCS, FSC (BVI), FSC

$10

1:20000

3

8.4/10

FSA, CySec, FSCA, FSC

$1

1:3000

4

8/10

FCA, IFSC, CySec, ASIC

$5

1:1000

5

8/10

FSCA, FSC, FSA

$10

1:400

6

8.7/10

FSCA, CySEC, FCA, DFSA, FSCA, CMA

$0

1:2000

7

8.5/10

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$10

1:400

8

8.3/10

IFSC, FSCA, ASIC, CySEC

$1

1:1000

9

8.2/10

SVGFSA

$5

1:500

10

8.1/10

CySEC, ASIC, FSCA

$100

1:500

Top 10 Forex Brokers

Broker

Rating

Min Deposit

Leverage

1

8/10

$100

1:400

2

9/10

$10

1:20000

3

8.4/10

$1

1:3000

4

8/10

$5

1:1000

5

8/10

$10

1:400

6

8.7/10

$50

1:100

7

8.5/10

$10

1:400

8

8.3/10

$1

1:1000

9

8.2/10

$5

1:500

10

8.1/10

$100

1:500

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Pros and Cons

✔️ Pros❌ Cons
Provides 1,429 CFDs, including 55 currency pairsSpreads can be expensive when compared to industry leaders
Trading Central’s tools and XM’s in-house research are both valuable assetsThe broker does not provide its own trading platforms for desktop or the web
A wide range of educational webinars, articles, and courses are availableAverage spreads for the commission-free Zero account are not published
The entire MetaTrader suite is available, including copy tradingThe broker does not have an IDR-denominated account
Specific order types have guaranteed fills
The broker offers a 30 USD no-deposit bonus to newly registered traders
They are an award-winning, multi-regulated broker with a 90% trust score

Frequently Asked Questions

What is XM Indonesia? 

XM Indonesia is a leading forex broker that provides various trading services and financial investment opportunities. 

 

How do I open an account with them? 

To sign up for an account, go to their official website, fill out the registration form, and follow the instructions. 

 

Is XM regulated? 

Yes, they are regulated by ASIC, IFSC, CySEC, FSC, DFSA and FSCA. 

 

Is XM Safe or a Scam? 

They are a highly reputable and safe broker for Indonesians, with a trust score of 90%. 

 

What trading platforms does the broker offer? 

They provide access to popular trading platforms such as MetaTrader 4 and MetaTrader 5 and advanced trading tools. In addition, XM also offers an iOS and Android app. 

 

Are there any bonuses available for new traders? 

Yes, they provide bonuses to new traders to improve their trading experience and potential profits. 

 

How can I deposit funds into my account? 

You can fund your account using a secure and convenient payment method on their platform. 

 

How long does it take to withdraw? 

Withdrawals take at least 1 working day and up to 5 working days. However, some clients have complained that withdrawal times can be much longer than indicated. 

 

Can I trade forex on the platform? 

Yes, the broker offers a comprehensive forex trading experience, allowing traders to trade diverse currency pairs. 

 

Does XM have VIX 75? 

No, the broker does not have the Volatility 75 but offers several other indices that can be traded. 

 

Does XM have Nasdaq 100? 

They offer Nasdaq as a cash index under US100, with spreads from 1.10 pips. 

 

What is the withdrawal process like? 

Withdrawing funds from your account is a simple process. Log in to your account, go to the withdrawal section, and follow the instructions. 

 

Are there any educational resources available for traders? 

Yes, they provide various educational resources, such as webinars, tutorials, and market analysis, to assist traders in making sound decisions. 

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