XM south africa

XM South Africa Review 2022

XM provides services to more than 5 million clients from 196+ countries and is regulated by the ASIC of Australia, CySEC of Cyprus, IFSC of Belize, and DFSA of UAE, Dubai.

XM was founded in 2009 and is headquartered in Cyprus. This brokerage company offers 1000+ trading instruments (Forex, CFDs on shares, futures, indices, metals, and energies) and 55+ global currency pairs. Traders can enjoy fractional pip pricing with real-time market execution, 99.35% less than 1 second.

XM South Africa provides four types of accounts, namely Micro, Standard, Ultra Low, and Shares. Traders can request an Islamic swap-free account after registering with the company. All strategies are welcome in all accounts, except the Shares account. All trading activities can be done via the MT4, MT5, and XM WebTrader platforms. Traders can make use of leverage up to 1:888, spread as low as 0.6 pip, with no re-quotes or rejections.

At XM South Africa, deposits and withdrawals can be done via various payment methods, including debit or credit cards, electronic payments, bank wire transfers, local bank transfers, and cryptocurrencies. The minimum deposit amount is 5 USD or its equivalent.

This company also offers various useful resources, such as seminars, webinars, trading tools, market research, market overview, news, technical summaries, economic calendar, educational videos, tutorials, Forex calculators, trading signals, and free VPS.

XM company has won several awards in the financial industry, namely the Best Trading Experience (Ultimate Fintech), the Best Retail Forex Broker (Global Forex Awards 2021 — B2B), and the Best FX Service Provider (City of London Wealth Management Awards).

In case of any trading problems, traders can contact the 24/5 personal customer support via live chat, email, phone. The official website is available in 25 languages, and the support team speaks in 19 different languages.
🔥 XM South Africa Everybody Wins Promotion 2022

🔔 from April 4th until May 31st, 2022
Website: www.XM.com
Regulations: ASIC, IFSC, CySEC, DFSA
Country: Cyprus
Founded: 2009
South Africa Support Desk: Yes
XM South Africa Rating:
4.8 / 5

Account types offered by XM South Africa

To provide the best experience for all traders, XM South Africa offers four different trading accounts, as follows:

1. Micro Account

As the most suitable account type for new traders, in XM Micro account 1 lot is equal to 1,000, and the minimum trade volume for both MT4 and MT5 platforms is 0.1 lots. The maximum number of open or pending orders is 300 positions and the lot restriction per ticket is 100.

For this account type, traders need to deposit at least 5 USD to access spread as low as 1 pip and leverage as high as 1:888. Bear in mind that different trading amounts come with different leverage ranges:

1:1 to 1:888 ($5 - $20,000)
1:1 to 1:200 ($20,001 - $100,000)
1:1 to 1:100 ($100,001+)

Traders do not need to pay any commission for this account. This account type also supports hedging, news trading, scalping, and EAs. Traders can trade in USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, and ZAR in the XM Micro account.

2. Standard Account

The XM Standard account is typically used by more experienced traders with sufficient knowledge of Forex trading. This type of account offers trading in USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, and ZAR.

One trading lot is equal to 100,000, and the spread starts from 1 pip. In the standard account, similar to the Micro account, several leverage ranges are offered as follows:

1:1 to 1:888 ($5 - $20,000)
1:1 to 1:200 ($20,001 - $100,000)
1:1 to 1:100 ($100,001+)

With just 5 USD and a minimum trade volume of 0.1 lots, traders can start their journey using the XM Standard account, with no commission. They can open orders up to 300 positions as well as 50 lots per ticket. All strategies are welcome in this account.

3. Ultra Low Account

There are two options for this type of account, namely the Standard Ultra (1 lot = 100,000) and Micro Ultra (1 lot = 1,000). What makes the XM Ultra account different from the Micro and Standard accounts is the spread, which is as low as 0.6 pip.

The minimum trade volumes for Standard Ultra and Micro Ultra are 0.01 lots and 0.1 lots, respectively. In addition, the lot restriction per ticket for Standard Ultra is 50 lots, and 100 lots for Micro Ultra. Traders can also use all strategies in this account, including hedging and EAs.

Trading in this account is only allowed in EUR, USD, GBP, AUD, ZAR, and SGD. XM South Africa does not charge any commission for the order, and traders can open orders up to 300 positions. By depositing at least 5 USD, traders can enjoy the following leverage amounts:

1:1 to 1:888 ($5 - $20,000)
1:1 to 1:200 ($20,001 - $100,000)
1:1 to 1:100 ($100,001+)

4. Shares Account

As the name implies, this account is specifically for traders who want to trade shares in USD. There is no leverage for the XM Shares account, and the spread varies depending on the exchange rate.

Traders can have up to 50 positions, open and pending orders. To use this account, traders need to deposit at least $10,000. The minimum trade volume is 1 lot, while the lot restriction per ticket depends on the share. In this account, hedging is not allowed, and you need to pay a certain amount of commission.
Micro Account
Minimum Deposit: $5
Leverage: 1:888
Minimum trade size: 0.1
Spread Type: Floating from 1 pip
Commission: No
Account Currency: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR

Standard Account
Minimum Deposit: $5
Leverage: 1:888
Minimum trade size: 0.01
Spread Type: Floating from 1 pip
Commission: No
Account Currency: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR

Ultra Low Account
Minimum Deposit: $5
Leverage: 1:888
Minimum trade size: 0.01
Spread Type: Floating from 0.6 Pips
Commission: No
Account Currency: EUR, USD, GBP, AUD, ZAR, SGD

Shares Account
Minimum Deposit: $10,000
Leverage: No Leverage
Minimum trade size: 1 share
Spread Type: Offered as in exchange
Commission: Yes
Account Currency: USD

Aside from the Live accounts, traders can also practice in the Demo account to polish their trading skills. Additionally, traders can have up to 5 active Demo accounts.

Muslim traders can request to have a swap-free Islamic account for all account types. The XM Islamic account does not come with swap or rollover interest on overnight positions, so there is no spread widening. The positions can be held with no time limit, and other trading conditions are the same.

Any XM client can open up to 10 active trading accounts and 1 Shares account. Please keep in mind that after 90 calendar days of inactivity (no trading, withdrawal, deposit, internal transfer, etc.), the accounts will be closed.

How to deposit and withdraw funds at XM South Africa

XM Broker offers various secure payment methods for deposits and withdrawals to clients from South Africa. Traders can use debit or credit cards (VISA & Mastercard), electronic payment methods (Sticpay, Neteller, Skrill & WebMoney), bank wire transfer, local South African back transfer, and other payment methods, including cryptocurrency.

All fees are covered by XM South Africa, except for bank wire deposits less than 200 USD or its equivalent. However, several platforms may charge additional fees. The funds will be transferred instantly to the trader's account, except for the bank wire transfer. All withdrawals will be processed within 24 hours on business days, but withdrawals via credit card and bank wire transfer may take from 2 to several working days.

Please note that the payment has to be made from an account registered under the same name as your XM South Africa account, otherwise, the payment will be rejected. And also traders can only withdraw their funds to where the deposit was initiated from.

Is XM South Africa reliable and safe?

As one of the most trusted Forex brokers, XM has been serving over 5 million clients from 196+ countries since 2009. With over 2,400,000,000 executed trades, this company offers no re-quotes or rejections.

The company’s financial activities are regulated and audited by several regulatory authorities:

ASIC of Australia under the company name Trading Point of Financial Instruments Pty Limited
CySEC of Cyprus under the company name Trading Point of Financial Instruments Ltd.
IFSC of Belize under the company name XM Global Limited
DFSA under the company name Trading Point MENA Limited

XM South Africa keeps the clients’ funds in reputable banks so the funds cannot be used for the company's activities. The company is also obligated to meet strict financial requirements, including maintaining sufficient capital and being annually audited by external auditors. The negative balance protection will also prevent the clients’ balance from falling below zero, providing a truly safe and secure environment for traders.

Types of spreads in XM South Africa

XM South Africa offers variable spreads with a 5-digit quote precision. The spreads for the XM Micro and Standard accounts start from 1 pip, while the spread for the XM Ultra-Low account starts from 0.6 pip.

The current average spreads for most common currency pairs can be found below:
XM Spread

Trading platforms offered by XM South Africa

At XM South Africa, traders can trade using MetaTrader 4, MetaTrader 5, and XM WebTrader. These three platforms offer innovative features which will help the clients’ trading.

By using the MT4 platform, traders can enjoy one single login access to 8 platforms. They can also do one-click trading on PC, Mac, multiterminal, WebTrader, iPhone, iPad, Android, and Android Tablet. Moreover, they can make use of the complete technical analysis with over 50 indicators and charting tools, built-in and custom indicators, and different time periods. Expert Advisors are also available on this popular platform.

Meanwhile, the multi-asset MT5 trading platform can be used to trade Forex, stocks, stock indices, precious metals, and cryptocurrencies. Traders can access 7 asset classes using one single login to 7 platforms. They can also enjoy the latest price quotes and 100 charts which can be displayed simultaneously. This flexible platform is available on PC, Mac, WebTrader, iPhone, iPad, Android, and Android Tablet.

Key advantages of trading with XM South Africa

Regulated by four prominent regulators: ASIC, CySEC, IFSC, DFSA
The minimum deposit is 5 USD or equivalent denomination with no fee.
Maximum leverage of 1:888 and ultra-low spread of 0.6 pip with fractional pip pricing
16 full feature trading platforms via MT4, MT5, and WebTrader.
1000+ trading instruments (Forex, CFDs on shares, futures, indices, metals, energies)
Four different account types: Micro, Standard, Ultra Low Standard & Micro, and Shares.
25+ secure payment methods: debit/credit cards, e-wallets, international and local bank transfers
24/5 professional customer service via live chat, email, and phone.
All strategies are accepted in most accounts, including scalping, news trader, hedging, and EA.
Various resources such as seminars, webinars, market research, videos, tutorials, etc.
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