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XM Review

XM Review

Overall, XM is considered a low-risk and can be summarised as trustworthy and competitive. XM is regulated by the top-tier DFSA, FCA, and ASIC. XM is currently one of the top-rated platforms with a Trust Score of 89% out of 100 with a rating of 9/10. XM is currently not regulated by the CMA of Kenya

Updated : July 20, 2022

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XM Review

Regulation and Safety of Funds

XM Review

Account Types and Features

XM Review

Account Registration

XM Review

Trading Platforms

XM Review

Range of Markets

XM Review

Fees

XM Review

Deposits and Withdrawals

XM Review

Education and Research

XM Review

Affiliate Program

XM Review

Final Verdict

XM Review

Pros and Cons

XM Review

FAQ

XM Review

Overall Rating

Min Deposit

USD 5 / 584 KES

Regulators

IFSC, CySec, ASIC

Trading Desk

Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform

Crypto

No

Total Pairs

57

Islamic Account

Yes

Trading Fees

No (Just spread) 

Account Activation Time

24 Hours

XM Overview

XM Review Overview

👉 According to our research, XM is an average-risk broker that has a high trust score of 84% and an overall rating of 9/10 as a CFD and Forex broker for Kenyan traders. Security, customer service, account financing, and minimal fees are some of the most important features that consumers look for in an online trading platform, and XM provides them in abundance.

 

👉 XM is a good option to start a trading profession or advance in an existing one because of this winning mix. Established in 2009 and in operation for more than 12 years, XM has more than 196 countries where it operates, a service team that speaks 30 languages, and the broker is one of the most trusted and well-regulated brokers.

 

👉 Even though the broker’s main branch is based in Belize and licensed by the IFSC, the broker has offices across the world that can serve clients‘ requirements, with relevant regulation and authority in these regions.

 

👉 This XM review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.

 

Distribution of Traders

XM Review Distribution of Traders

👉 The distribution of traders with XM is as follows:

➡️️​ Thailand – 33.7%

➡️️​ South Africa 12.1%

➡️️​ Colombia – 9%

➡️️​ Egypt – 8.7%

➡️️​ Philippines – 2.9%

 

Popularity among traders who choose XM

🥇 While XM does not dominate the forex and CFD market in Kenya, the broker is still one of the most versatile options for Kenyan traders, ensuring that it is a part of the Top 50 brokers in the region for retail traders.

XM At a Glance

🏛 HeadquarteredBelize
🏙 Kenyan Based OfficeNo
✅ Accepts Kenyan Traders?Yes
🗓 Year Founded2009
📞 Kenyan Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• YouTube
• Instagram
• LinkedIn
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA
🪪 License Number• Belize – 000261/158
• South Africa – 49976
• Australia – ABN 32 164 367 113, AFSL 443670
• Cyprus – 120/10
• Dubai – F003484
⚖️ CMA RegulationNone
🚫 Regional RestrictionsThe United States, Canada, Israel, the Islamic Republic of Iran
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts4
📊 PAMM AccountsYes
🤝 Liquidity ProvidersUnknown
💸 Affiliate ProgramYes
📲 Order ExecutionInstant, Market
📊 Average spreadFrom 0.0 pips
📞 Margin Call50% to 100% (EU)

🛑 Stop-Out20% to 50% (EU)
✅ Crypto trading offered?Yes
💰 Offers a Kenyan shilling Account?No
👨‍💻 Dedicated Kenyan Account Manager?No
📊 Maximum Leverage1:888
🚫 Leverage Restrictions for Kenya?No
💰 Minimum Deposit (KES)570 Kenyan shilling (equivalent to $5)
✅ Kenyan shilling Deposits Allowed?Yes
📊 Active Kenyan Trader Stats70,000+
👥 Active Kenyan-based XM customersUnknown
💳 Kenya Daily Forex Turnover$100 million+
💵 Deposit and Withdrawal Options• Credit Card
• Debit Card
• Bank Wire Transfer
• Local Bank Transfer
• Skrill
• Neteller
• WebMoney
🏦 Segregated Accounts with Kenyan Banks?No
📊 Trading Platforms• MetaTrader 4
• MetaTrader 5
• XM Mobile App
✔️ Tradable Assets• Forex
• Cryptocurrencies
• Stock CFDs
• Commodities
• Equity Indices
• Precious Metals
• Energies
• Shares
💸 Offers USD/KES currency pair?No
📈 USD/KES Average SpreadN/A
📉 Offers Kenyan Stocks and CFDsNone
🗣 Languages supported on WebsiteEnglish, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/5
👥 Customer Support LanguagesNo
✅ Bonuses and Promotions for KenyansYes
📚 Education for Kenyan beginnersYes
📱 Proprietary trading softwareNo
💰 Most Successful Kenyan TraderPatrick Mahinge (Net Worth – Private)
✅ Is XM a safe broker for Kenyans?Yes
📊 Rating for XM Kenya9/10
🤝 Trust score for XM Kenya84%
👉 Open an account👉 Open Account

Regulation and Safety of Funds

XM Review Regulation And Safety

👉 XM is a well-regulated entity that is based in Belize, operating through these entities worldwide:

➡️ Belize – XM Global Limited (license number 000261/158) is well-regulated and overseen by the International Financial Services Commission (IFSC).

➡️ In South Africa Key Way Financial (Pty) Ltd is a reputable Financial Service Provider (FSP) that is overseen by the Financial Sector Conduct Authority (FSCA) under FSP number 49976.

➡️ Australia – XM operates through Trading Point of Financial Instruments Pty Ltd under ABN 32 164 367 113, with regulation and authorization provided through the Australian Securities and Investment Commission (ASIC) under AFSL 443670.

➡️ In Cyprus, XM is regulated by the Cyprus Securities and Exchange Commission (CySEC) through Trading Point of Financial Instruments Ltd in Limassol under license number 120/10.

➡️ Dubai – XM operates through Trading Point MENA Limited as a DIFC company, regulated by the Dubai Financial Services Authority (DFSA) under reference number F003484.

 

👉 Regulated firms have been used to process withdrawals and deposits for XM Group to protect the safety of its consumers. Liquidity providers and XM cannot access consumer funds since they are stored in different tier 1 banks from business funds. Customer accounts are also protected by negative balance protection.

 

👉 A member of the Investor Compensation Fund, XM complies with all the criteria laid forth in the Markets in Financial Instruments Directive to safeguard investors (MiFID).

 

👉 XM Group aims to give its clients the best possible trading circumstances. To ensure that they always provide some of the lowest spreads and the most liquidity, they cooperate with a broad range of liquidity providers.

Account Types and Features

XM Review Account Types

👉 Individual Kenyan traders can choose from four distinct types of retail investor accounts, each tailored to their own trading goals. XM offers a variety of live account options, including:

➡️ Micro Account

➡️ Standard Account

➡️ XM Ultra-Low Account

➡️ Shares Account

 

Live Trading Accounts

Micro Account

XM Review Micro Account

👉 Micro accounts are ideal for new traders who are transitioning from a risk-free trial account into the real world of trading. For more experienced traders looking to put their trading theories to the test, this account type is excellent.

 

Account FeatureValue
📈 Base Currency OptionsUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📊 Position Size1,000 base currency units = 1 Lot
📈 Maximum Leverage Ratio• Account 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
📉 Negative Balance Protection Applied?Yes, to all retail accounts
📊 Average spread on all forex major pairs1 pip EUR/USD
💸 Commission chargesNone
💰 Maximum open or pending orders per trader300
📈 Minimum trade volume MetaTrader 40.1 lot
📉 Minimum trade volume MetaTrader 50.1 lot
✔️ Hedging allowed?Yes
📈 Lot Restrictions per trade100 lots
☪️ Islamic Account offered?Yes
📉 Minimum Deposit Requirement570 Kenyan shilling or an equivalent to $5

 

Standard Account

XM Review Standard Account👉 This is the typical account that is chosen by most retail traders, offering typical spreads and other account features.

 

Account FeatureValue
📈 Base Currency OptionsUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📊 Position Size100,000 base currency units = 1 Lot
📈 Maximum Leverage Ratio• Account 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
📉 Negative Balance Protection Applied?Yes, to all retail accounts
📊 Average spread on all forex major pairs1 pip EUR/USD
💸 Commission chargesNone
💰 Maximum open or pending orders per trader300
📈 Minimum trade volume MetaTrader 40.1 lot
📉 Minimum trade volume MetaTrader 50.1 lot
✔️ Hedging allowed?Yes
📈 Lot Restrictions per trade50 lots
☪️ Islamic Account offered?Yes
📉 Minimum Deposit Requirement570 Kenyan shilling or an equivalent to $5

 

XM Ultra-Low Account

XM Review XM Ultra Low Account

👉 This account type is known for its ultra-low trading fees, providing scalpers and other day traders with the best trading conditions in a fast-paced financial market environment.

 

Account FeatureValue
📈 Base Currency OptionsEUR, USD, GBP, AUD, ZAR, SGD
📊 Position Size• Standard Ultra – 100,000 = 1 lot
• Micro Ultra – 1,000 = 1 lot
📈 Maximum Leverage Ratio• Account 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
📉 Negative Balance Protection Applied?Yes, to all retail accounts
📊 Average spread on all forex major pairs0.6 pips EUR/USD

💸 Commission chargesNone
💰 Maximum open or pending orders per trader300
📈 Minimum trade volume MetaTrader 4• Standard Ultra – 0.01 lots
• Micro Ultra – 0.1 lots
📉 Minimum trade volume MetaTrader 50.1 lot
✔️ Hedging allowed?Yes
📈 Lot Restrictions per trade• Standard Ultra – 50 lots
• Micro Ultra – 100 lots
☪️ Islamic Account offered?Yes
📉 Minimum Deposit Requirement570 Kenyan shilling or an equivalent to $5

 

Shares Account

XM Review Shares Account

👉 The Shares Account offers Kenyan traders access to a wide range of shares that can be traded. This account has competitive commissions and the benefit of negative balance protection.

 

Account FeatureValue
📈 Base Currency OptionsUSD
📊 Position Size1 Share
📈 Maximum Leverage RatioNone
📉 Negative Balance Protection Applied?Yes, to all retail accounts
📊 Average spread on all forex major pairsAccording to the exchange

💸 Commission chargesBetween $1 to $9
💰 Maximum open or pending orders per trader50
📈 Minimum trade volume MetaTrader 41 lot
📉 Minimum trade volume MetaTrader 5No
✔️ Hedging allowed?Yes
📈 Lot Restrictions per tradeIt will depend on each share
☪️ Islamic Account offered?Yes
📉 Minimum Deposit Requirement1,100,000 Kenyan shilling or an equivalent to $10,000

 

Demo Account

XM Review Demo Account

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital

 

👉 There is a certain degree of risk involved when trading financial markets and XM offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

 

Islamic Account

XM Review Islamic Account

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 All live trading accounts provided by XM can be converted to an Islamic Account or Swap-free accounts that do not charge interest to traders who keep positions open overnight.

Account Registration

XM Review Account Registration

👉 Opening an XM trading account takes just a few minutes. When Kenyans start the account opening procedure, they can expect the account to be approved within the next working day. Kenyan traders need to complete a digital application in which they must provide personal information, employment details, source of funds, trading experience, and other categories.

 

👉 In addition, once the form is complete, Kenyan traders must complete the KYC process where they must submit proof of identity and residency. Once the information and documents have been compared and verified, the account will be approved, and traders can deposit funds to start trading.

XM Vs HotForex Vs Markets.com – Broker Comparison

XMHotForexMarkets.com
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSAFSCA, CySEC, DFSA, FSA, FCA, FSC, CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regionsASIC, CySEC, FSCA, FCA, BVI FSC
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• XM Mobile App
• MetaTrader 4
• MetaTrader 5
• MarketsX
• Marketsi
• MetaTrader 4
• MetaTrader 5
• MarketsX App
💰 Withdrawal FeeNoneNoNone
📊 Demo AccountYesYesYes
📈 Minimum Deposit570 KES
570 KES11,400 KES





📈 Leverage1:888

1:1000



1:300
📊 Spread0.0 pips0.0 pipsFrom 0.8 pips

💰 Commissions$1 to $9$3 to $4From 15 USD

✴️ Margin Call/Stop-Out• 50%/20%,
• 100%/50% (EU)
• 40%/10%
• 50%/20%

50%
✴️ Order ExecutionInstant, MarketMarketMarket, Instant

💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 Account Types• Micro Account
• Standard Account
• XM Ultra-Low Account
• Shares Account
• Micro Account
• Premium Account
• HFcopy Account
• Zero Spread Account
• Auto Account
• MarketsX Account
• Marketsi Account
⚖️ CMA RegulationNoYesNo
💳 KES DepositsYesYesNo
📊 Kenyan shilling AccountNoNoNo
👥 Customer Service Hours24/524/524/5
📊 Retail Investor Accounts452
☪️ Islamic AccountYesYesYes
💵 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size100 lots60 lots100 lots

Trading Platforms

XM Review Trading Platforms

👉 XM offers Kenyan traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ XM Mobile App

 

Desktop Platforms

XM Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

👉 With XM’s MultiTerminal platform, Kenyan traders can manage numerous accounts from a single screen. With the MT4 platform, Kenyan traders can expect a familiar trading experience, but with much more power and capacity.

 

👉 The MetaTrader 5 platform has been tailored to fit the needs of XM customers regardless of their preferred trading style or asset class, and this resulted in the XM MT5.

 

👉 This robust but user-friendly platform provides more features, smarter trading tools, greater support, and total control over the trader’s operations. One of the most creative and frequently utilized trading platforms in the world, MetaTrader 5, is used by Kenyan traders.

 

WebTrader Platforms

XM Review WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

👉 Trading with XM can be done from any web browser using the MetaTrader 4 WebTerminal, which does not need any additional software to be downloaded. Kenyan traders can place pending and market orders on both Live and Demo accounts, as well as see their full trading history.

 

👉 The XM MetaTrader 5 WebTerminal trading requires no further software to be installed. The WebTerminal, which can be started from any computer and browser, has all the functionality of the desktop platform.

 

Trading App

XM Review Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ XM Mobile App

 

👉 The XM Android and iOS MT4 combine excellent charting with a wide range of sophisticated trading tools and several other advanced features to make it easier for traders to trade on the move.

 

👉 XM’s full-function trading interface allows Kenyan traders to access financial markets, do technical analysis, follow movements, and place orders from any location in the world.

 

👉 The MT4 Android, iPad, and iPhone Trader can be downloaded and utilized instantly by XM’s Kenyan customers for their convenience. XM’s MetaTrader software was specifically developed to make use of many of the advanced features of a range of mobile devices to create a unique trading experience for all traders.

 

👉 XM has recently introduced a proprietary mobile trading app that can be downloaded on any iOS or Android mobile device, from tablets, iPads, iPhones, to other smartphones. With this innovative proprietary app, Kenyan traders can perform several functions, including:

➡️ Trade more than 1,000 instruments from the app’s interface

➡️ Access instant order execution with no requotes

➡️ Customize the trading account using in-app features

➡️ Access updated, real-time charts

➡️ Use more than 90 technical indicators

➡️ Access the latest news, market analysis, and research

➡️ Integrate the app with MetaTrader 5 to access additional features and benefits

 

Range of Markets

XM Review Range of Markets

👉 Kenyan traders can expect the following range of markets from XM:

➡️ Forex

➡️ Cryptocurrencies

➡️ Stock CFDs

➡️ Commodities

➡️ Equity Indices

➡️ Precious Metals

➡️ Energies

➡️ Shares

Broker Comparison for Range of Markets

XMHotForexMarkets.com
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoYes
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoYesYes

Trading and Non-Trading Fees

Spreads

XM Review Spreads

👉 According to the account type, trading circumstances, the financial instrument traded, and the current market conditions, XM provides a range of variable spreads. According to retail investor accounts, the following are the typical spreads:

➡️ Micro Account – 1 pip EUR/USD

➡️ Standard Account – 1 pip EUR/USD

➡️ XM Ultra-Low Account – 0.6 pips EUR/USD

➡️ Shares Account – According to the exchange being traded

 

Commissions

XM Review Commissions

👉 Commissions are charged when Kenyan traders register and use the Shares Account. The typical commission charges on this account range from $1 up to $9 according to the individual shares that are being traded and the underlying exchange.

 

Overnight Fees, Rollovers, or Swaps

XM Review Overnight Fees

👉 To calculate overnight costs with XM, Kenyan traders will need to consider many criteria such as the financial instrument being traded, whether long or short positions are held, the amount of money being exchanged, and so on.

 

👉 XM charges the following overnight fees:

➡️ AUD/CAD – a long swap of -3.93 and a short swap of -3.4

➡️ AUD/CHF – a long swap of -1.24 and a short swap of -4.04

➡️ CHF/JPY – a long swap of -7.17 and a short swap of -3.07

➡️ AUD/USD – a long swap of -2.34 and a short swap of -1.54

➡️ EUR/USD – a long swap of -5.43 and a short swap of -0.83

➡️ GBP/CAD – a long swap of -5.9 and a short swap of -8.3

Deposits and Withdrawals

XM Review Deposits And Withdrawals

👉 XM offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ Bank Wire Transfer

➡️ Local Bank Transfer

➡️ Skrill

➡️ Neteller

➡️ WebMoney

 

How to Deposit Funds with XM

XM Review How to Deposit Funds

👉 To deposit funds to an account with XM, Kenyan traders can follow these steps:

➡️ Kenyan traders can select the “Members Login” from the homepage to be redirected to the access area.

➡️ Traders can provide their account ID and password to log in.

➡️ Traders can select their preferred deposit method, enter the amount to deposit and select “Deposit.”

➡️ Traders can confirm their ID and deposit amount, followed by any additional information as per the payment method that they use.

 

How to Withdraw Funds with XM

XM Review How to Withdraw Funds

👉 To withdraw funds from an account with XM, Kenyan traders can follow these steps:

➡️ Kenyan traders can log into their My Account page from the XM website.

➡️ Traders can select the option to “Withdraw” from the main menu and select the available withdrawal option according to the method that was used to make a deposit.

➡️ Traders can enter their withdrawal amount and submit the request after confirming the details of the withdrawal.

 

👉 Because of the risks involved with money laundering, terrorism financing, and other financial crimes, XM only processes withdrawals and refunds to the original deposit source in line with the Withdrawal Priority Procedure.

XM Education and Research

XM Review How to Education And Research

👉 XM offers the following Educational Materials:

➡️ XM Live

➡️ Live Education

➡️ Live Education Schedule

➡️ Educational Videos

➡️ Forex Webinars

➡️ Platform Tutorials

➡️ Forex Seminars

 

👉 XM offers Kenyan traders the following Research and Trading Tools:

➡️ Trading Tools

➡️ MQL5

➡️ Forex Calculators

➡️ Markets Overview

➡️ News Feed

➡️ XM Research

➡️ Trade Ideas

➡️ Technical Summaries

➡️ Economic Calendar

➡️ XM TV

➡️ Podcasts

Bonuses and Promotions

XM Review Bonuses And Promotions

👉 XM provides Kenyan traders with a broad choice of incentives and promotions to entice new traders to join the platform, as well as to reward existing clients and traders who remain active.

 

👉 Promotions include a $30 no-deposit bonus, which is paid to the trader’s account, and a 50% deposit bonus on top of a 20% deposit bonus of up to $4,000. Kenyan traders can also access the following:

➡️ Existing customers can participate in “Trade and Win” events and tournaments

➡️ XM Loyalty Program and Referral Bonus

➡️ 0% commissions on deposits and withdrawals, including electronic payment providers, major credit cards, and bank wire transfer up to $200, for qualifying customers

XM Affiliate Program

XM Review Affiliate Program

👉 XM offers Kenyans an extensive affiliate program that includes the following benefits:

➡️ Up to $25 in commission per lot traded

➡️ 10% on second tier referrals

➡️ Zero limits on commissions that can be earned

➡️ Multilingual customer support

➡️ Transfers between Introducing Brokers

➡️ Frequent and prompt pay-outs

➡️ A personal account manager

Verdict on XM

👉 XM aims to make a positive difference in the lives of people around the world despite their religion, culture, or their ethical background, helping them achieve their potential. XM is involved in the following initiatives:

➡️ Education and Skills Development by initiating projects that can help people get the education that they need. These initiatives also help individuals develop essential vocational skills.

➡️ Research and Development – XM contributes to research along with development and innovation initiatives that serve a greater purpose.

➡️ XM and its dedicated team have teamed up with local and international active human aid foundations to try and make the world a better place.

 

👉 XM and MyCARE recently worked together on a disaster relief initiative in Malaysia to assist those who had been displaced by the December 2021 floods that afflicted significant regions of the nation. UN Economic and Social Council recognized myCARE as a non-profit organization that has worked relentlessly to aid the most impacted families.

 

👉 XM has provided donations to Plan Korea, a children’s organization in Korea that aims to improve the lives of children and ensure that females have equal rights and opportunities. In addition, education and anti-discrimination measures are provided by Plan Korea.

 

👉 XM also works to help children in impoverished nations. The broker collaborates with other charitable organizations to help them improve their quality of life and ensure they have the resources to satisfy their basic needs.

 

👉 As part of the UNHCR’s emergency response program for unaccompanied refugee children entering Greece, XM has teamed with the UN Refugee Agency (UNHCR). More than 5,000 unaccompanied refugee children are now in Greece, but only 2,225 of them are insecure, have adequate housing, and are receiving adequate care.

 

👉 In December 2021, XM partnered with Malaysia’s Bendera Putih (White Flag) effort to help people in need amid the COVID-19 epidemic.

 

👉 By teaming up with De. Wan restaurant, XM created 250 take-out meal boxes on-site for those who could not afford to buy food regularly after giving 300 food boxes to the Bendera Putih project in July of 2021.

XM Current Popularity Trends

👉 According to Google Trends, XM has seen an increase in Google Searches in the past month. 

XM Review Google Trends

XM Pros and Cons

✔️ Pros❌ Cons
XM is a multi-regulated and multi-award-winning CFD and forex brokerThere is no KES-denominated trading account and Kenyan traders could face currency conversion fees
XM offers negative balance protection on retail accounts
There is a selection of retail trading accounts offered for every level of trader
XM accepts several trading strategies and welcomes beginners and professionals alike
There is a wealth of educational materials, research, and trading tools
Kenyan traders are accommodated and can make deposits in local currency
XM is known for its competitive trading conditions and transparent trading environment
Client fund safety is guaranteed

Frequently Asked Questions

 

Does XM offer leverage and what is the maximum ratio offered?

Yes, XM offers maximum leverage up to 1:888 depending on the trader’s account balance.

What is the overall rating for XM out of 10?

Our review of XM reveals a rating of 9/10.

Does XM offer a Demo Account?

Yes, XM offers a demo account.

Is XM regulated and by whom?

Yes, XM is regulated by the FSCA, IFSC, ASIS, CySEC, and DFSA.

Is XM suitable for beginner and professional traders?

Yes, XM is an ideal broker that can be used by beginner and professional traders.

9/10 - (2 votes)