A Broker Offering a Free $30 Bonus – Read our XM Forex Broker Review
XM is the Forex trading name of Trading Point of Financial Instruments Ltd, a licensed and regulated broker with its headquarters in Limassol, Cyprus. As well as being licensed by CySEC, it is also authorized to offer its services by the FCA (Financial Conduct Authority) in the UK. Other licenses have been granted by BaFIN in Germany and CNMV in Spain. This broker is currently offering an exciting opening bonus in the form of $30 with no deposit requirements. It is available to new customers and is automatically credited to your trading account, with the promise of no hidden terms and all profits available for withdrawal. XM has gained a good reputation among traders with offers including leverage of up to 888:1, a wide variety of tradeable instruments including stock indices, oil and gold, along with foreign currencies.
XM bonuses are varied and appealing
We’ve already mentioned the $30 free XM welcome bonus but there is more available for both new and existing clients. If you choose the Executive level entry to the XM Loyalty Program there is a 100% instant bonus available, up to $5,000. This excellent XM bonus can be either redeemed as a cash reward or used as a credit bonus for trading. XM is also the host of a Forex World Championship that offers the opportunity to win $50,000 along with entry to the Final Round. The prizes in the final round are more than $500,000 in cash prizes. Entry is free and there is no risk involved. Other XM promotions include:
- Free VPS services – Eliminates downtime, increases the speed of execution and is accessible from anywhere
- 0% zero fees on deposits and withdrawals – Includes all e-wallets, major credit cards and wire transfers above $200
- XM Loyalty Program – A way of earning endless cash rewards and credit bonuses
MetaTrader 4 is available in a variety of versions
Both demo account and live traders have a range of options when it comes to a trading platform but they mainly center around the ever popular MetaTrader 4. It has versions that will support PC, MAC, iPad and iPhone as well MT4 XM mobile platform for Android devices. There is also MT4 Multiterminal and MT4 WebTrader available along with XM’s very own FX Arena. This exclusive platform is the world’s first contest platform and with the help of the in-built FX Arena WebTrader there is an opportunity to compete against other traders for the chance to win some great prizes.
An XM account can be opened with as little as $5
With a minimum deposit of $5, new traders can experience the professionalism offered by XM. There are actually three different accounts to choose from, a Micro, Standard, and XM Zero account. The Micro account is perfect for beginners but those with a little more experience are better suited to a Standard account. Minimum deposit is still only $5. The XM Zero account has a slightly larger minimum deposit at $100 but as might be expected from its title this account has spreads on all majors as low as 0 pips, but there is a commission charge.
Let’s not forget the XM demo account as this is the perfect way to try out all XM has to offer without risking a single cent.
A number of different payment methods are supported including MoneyBookers, Skrill, Diners Club, Neteller, credit and debit cards, wire transfer and a number of other local methods. Deposits are generally instant with withdrawals normally processed within 24 hours. Credit and debit cards, as well as bank wires, can take up to 5 days.
Open an account with $30 Free, no deposit required.
Customer support is a top priority for XM
However good a broker may be there will undoubtedly come a time when a little support is necessary which is why we always try to evaluate a broker’s customer service. We weren’t disappointed with XM and they were available 24 hours a day, 5 days a week. A multilingual personal account manager is available for both real and demo account holders and they can be contacted by telephone, live chat or by email.
Along with excellent customer service there is also a good selection of educational material available whatever your current skill level. There is a good selection of free video tutorials market analysis and Forex news and a series of weekly interactive webinars.
When conducting our research while writing this XM broker review it wasn’t long before we came to appreciate what it was that has made XM so popular. There are already more than half a million customers from 176 different countries so there must be plenty that is being done right. XM is a transparent broker that provides a professional and reliable service. We found no problems during the time we spent navigating the site and were pleased with everything we found. The benefits we found most appealing were 24/5 customer service, prompt executions, no commission, flexible leverage up to 888:1, tight spreads, automated trading, personal account managers, and a great selection of special offers and bonuses.
If you think you’d like to try XM out for size then start with a demo account. But we’re pretty certain it won’t be long before you’re ready to step up to a real money account and start trading live.