XM Review

When it comes to choosing a Forex broker, something that attracts many new customers is the promise of something for nothing. Those of you reading this XM Group Forex broker review will be pleased to learn that at the time of writing, XM Group are offering new customers a $30 free bonus depending on your region. And that’s not all. They’re promising the opportunity to trade more than 250 financial Instruments: Forex, Cryptocurrencies CFDs, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs using the popular MT4 & MT5 trading platforms. So let’s fill you in on who this brand name is, and whether they are worthy of your time.

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The background and history of XM Forex broker

XM Group is a group of regulated brokers and it is owned by Trading Point Holdings Ltd.

Entities under XM Group have significant experience as financial services providers worldwide.

Trading Point of Financial Instruments Ltd was established in 2009 with headquarters in Limassol, Cyprus, Trading Point of Financial Instruments Pty Ltd was established in 2015 with headquarters in Sydney, Australia and Trading Point of Financial Instruments UK Ltd was established in 2016 with headquarters in London, UK.

XM Group is regulated by the CySEC (Cyprus Securities and Exchange Commission) – Trading Point of Financial Instruments Ltd, FCA (Financial Conduct Authority) – Trading Point of Financial Instruments UK Ltd and the ASIC (Australian Securities and Investments Commission) – Trading Point of Financial Instruments Pty Ltd.”

Brokers Name: Trading Point Holdings Ltd
Established year : 2008
Broker Type: Market Maker
Headquarters: Cyprus
Accept Us Clients: No
Visit Website : click here

XM Forex Broker Review

XM Group’s clients benefit from direct access to the financial markets in over 250 financial instruments including Forex, Cryptocurrencies CFDs, Stocks CFDs, Commodities CFDs, Equity Indices CFDs, Precious Metals CFDs and Energies CFDs with transparent real-time pricing, low spreads, and flexible leverage.

  • Trade forex on over 250 financial Instruments
  • Multiple trading platforms, including MetaTrader 4, MetaTrader 5 and Web Trader on all mobile platforms
  • 100% execution, 99.35% in under 1 second
  • No re-quotes or rejections
  • Tight spreads
  • Instant deposits with zero fees, same day withdrawals
  • Flexible leverage up to 1:500
  • No negative balance

Regulatory Details:

XM Group is a group of regulated online brokers.

Trading Point of Financial Instruments Ltd is established in 2009 and it is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10),

Trading Point of Financial Instruments Pty Ltd is established in 2015 and it is regulated by the Australian Securities and Investments Commission (ASIC 443670)

Trading Point of Financial Instruments UK Ltd is established in 2016 and it is regulated by the Financial Conduct Authority (FCA 705428).

Licenses and more information can be found at http://www.xm.com/regulation

A wide range of trading platforms for both demo and real accounts

XM Group offers a wide array of trading platforms for those who open demo and real accounts. By far, the most popular ones MT4 & MT5. MetaTrader 4 & MetaTrader 5 support an unlimited number of real and demo accounts, as well as Expert Advisors. The available trading platforms support market, limit, stop, and trailing orders, all accessible from 1 account. Which means that trading operations are swift and flexible. Whatever time, and wherever you might be, XM Group is open for business.
Trading platforms available include:

  • MT4 & MT5 for iPhone
  • MT4 & MT5 for Android
  • MT4 & MT5 for iPad
  • MT4 & MT5 for tablet
  • MT4 & MT4 for PC
  • WebTrader


Account Options:

Minimum Deposit: 5 USD
Maximum Leverage: 500:1
Minimum Trade Size: 1000 units
Scalping: Yes
Hedging Facilities : Yes
Free Demo Account: yes
Traders From USA: No
Islamic Account: Yes

Fees & Commissions

Commissions: No
Depositing Fees: No
Withdrawal Fees: No
Payment Methods : Multiple Local Payment Methods

Customer Support:

Supported Languages: English, Greek, Japanese, Chinese, Bahasa Malay, Bahasa Indonesia, Hungarian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Urdu, Bengali, Korean, Portuguese and Czech.
Customer Service Methods: Call Back, Phone, Live Chat, Email.
Customer Service Hours: 24/5
Telephone Trading : Yes
Personal Account Manager: Yes

Account types available:

XM Group offers its clients 3 types of account: MICRO, STANDARD, and ZERO with low spreads and a level of flexible leverage that can reach the maximum of 1:500. The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5. The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5. Finally, XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $100. XM ZERO account has a $5 commission per $100,000 traded.

The chance to benefit from an exciting XM bonus

XM Group has gained quite a reputation for a number of reasons and one of them is their very generous set of bonuses and promotions.

  1. Free VPS for clients who maintain a balance (Equity-Credit) USD 5,000 or currency equivalent.
  2. $30 No-Deposit Trading Bonus for new clients only.
  3. The two-tier deposit bonus offers 50% deposit bonus up to $500 and 20% deposit bonus up to $5,000.
  4. The XM Loyalty Program offers the clients XM Points (XMP) per lot traded. These XMP can be redeemed at any time for credit bonus which can be used for trading purposes only.

Multilingual customer service 24/5

An important factor to consider when writing any Forex broker review is the quality of customer service and support. XM Group offers multilingual personal account managers at the disposal of both real and demo account holders. Contact can be made by telephone, email, or live chat. 24 hours a day, 5 days a week.
Beginners will be pleased to learn there is a whole library of educational material, including weekly interactive webinars, free video tutorials, as well as Forex news and market analysis.
There is a lot to be said about the high standard of security for payment methods, as well as negative balance protection, no re-quotes, no hidden fees or commissions policy. All major payment methods are supported.

All in all, XM Group are very transparent brokerage firms that serve customers with professionalism and integrity. There are heaps of favorable reviews to read if you want to learn more about them from their customers.

 

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eToro Forex Broker Review

eToro is a broker that has a fresh approach to Forex trading than most of the other competing brokers in the industry. eToro has a flair for launching innovative products that are quick to catch on to the trader’s imagination. Way back in 2008, eToro launched one of the best platforms in the Forex trading industry that revolutionized the way trading works. The platform was a masterpiece that had a rich graphical interface and easy-to-understand trading terminal to enable amateur traders to learn the ropes of FX trading. Although the platform had several issues that led to immense criticism, the broker was lauded for its effort to create a feature-rich platform.
eToro is more commonly known today for its social trading platform, the CopyTrader, which essentially allows verified clients to copy trades from other successful eToro traders. Social trading is proving to be highly popular among retail as well as institutional investors, and eToro has one of the most advanced CopyTrading systems in the Forex markets. However, there are also a few downsides to choosing eToro, which will be discussed in this eToro review.

Official Website : eToro.com

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eToro Regulation & The General Reliability Of The Broker

eToro is regulated by the CySEC and the FCA under its brand name, while the US branch of the broker is regulated by the CFTC under the trading name of Tradonomi LLC. The interesting part of the US eToro regulation is that the broker does not accept traders from the US, which is a very strange strategy. Upon deeper investigation, it is clear that the core services offered by eToro are in direct conflict with the CFTC and NFA rules regarding FX operations and carrying out Forex brokerage services in the US. Merely changing the leverage to 1:50 and preventing hedging capabilities are no longer considered as a valid change to do business in the US, and it seems that eToro is revamping its entire organization structure before they can start accepting US traders once again.
CySEC regulation guarantees eToro the ability to offer services in the EU under the MiFID derivative, and the FCA regulation guarantees unprecedented safety and security for client funds. Although the broker is regulated by some of the best regulators, it is still seen that there are a few instances of the broker manipulating prices and freezing the platform during volatile market conditions. Since eToro is a market maker, the broker has been suspected of taking opposite trades to their client’s positions, and there is indeed a direct conflict of interest between the broker and its clients. Nevertheless, FCA and CySEC regulation enables clients to approach the regulatory agency or the Financial Ombudsman regarding any issues and complaints that they might have related to the broker’s conduct.

EToro Offers A Trio Of Trading Platforms

eToro decided to make more than one platform available for clients, and offer a suite of online investment solutions that are flexible enough to suit most needs. It is claimed they are easy to use, and after experiencing them when writing this eToro Forex brokers review, we won’t be arguing. On offer are the following:

  • eToro Openbook – This is the social trading platform for eToro, and can be used to follow and copy trades, as well as interact with other traders. Using this platform, it is easy to find other investors of interest, follow their trades and use the CopyTrader tool to automatically mimic their trading activity.
  • eToro WebTrader – This is an all in one portfolio management platform, with lots of trading tools to help manage both manual and copy trading portfolios. The interface is smooth and easy to navigate, and includes charting software, and the option to view live rates, open positions and orders. WebTrader also allows users to edit stop loss and take profit orders, and manage their copy trading activity.
  • eToro Mobile Trader – In today’s fast-paced world, it’s very much appreciated if there is a mobile option. With the eToro Mobile Trader app, it’s easy to participate in social trading using smartphones and mobile devices. The app is available for both Android and iOS, and is free to download. Wherever you might be, the eToro OpenBook app allows users to access live rates, open and close positions, edit stops, view charts and a whole lot more besides.

Standard Or Premium Accounts With EToro

Aside from the free demo account, there are two options for new trading clients. First, there is the standard account, with a minimum deposit requirement of only $50. eToro has a strict verification process, and new traders are advised to ensure this has been successfully completed, before embarking on their Forex trading journey. We came across a number of complaints online, from current clients regarding withdrawal of their funds. But also found that problems often occurred because the verification process hadn’t been completed. The terms and conditions on the site clearly state that this process has to be completed before withdrawing any funds. So it’s no surprise that these particular users couldn’t do what they wanted, and shouldn’t be held against the good name of eToro.
The eToro Premium Program is a relatively new addition for eToro, and requires a certain level of deposits and trading activity. To become a member of the eToro Premium Club, users must have a total new deposit of $20,000, within the previous 11 months. Having total equity of $20,000 at the end of a trading day will also entitle users to Premium Club membership. Premium status entitles traders to a special eToro Forex broker deposit bonus, direct access to eToros trading room, a personal account manager, unique promotional offers, free access to the Trading Central, weekly market analysis videos, a personal Payoneer credit card, and membership to the Neteller VIP program.
Let’s not forget to mention the free demo account, as this always a great way to get a good feel for the world of trading Forex, without risking any real money.

The Benefits Of EToro

  • A popular social trading platform that connects users to thousands of other traders
  • The OpenBook platform enables users to automate their trading by copying other positions
  • Educational resources are exceptional
  • One-click trading and customisable settings
  • Great offers and promotions, as well as eToro Forex bonuses

The Downside Of EToro

eToro is not the cheapest of brokers to choose, and many reviews mention the fact that the trading spreads are higher than many others. The number of currency pairs available for trading is limited, when compared to the competition. There are also fewer high-powered tools than we’d have preferred, and the charts are pop-out windows which can make things a little cumbersome. Many trading platforms can be fully customized to individual user needs, but not so with eToro.
But even with these disadvantages, we’d certainly recommend you give eToro a try.

eToro Bonuses, Payments, Spreads, & Other Account Information

The minimum deposit for an eToro account is $50, and traders can open a position from $25. eToro has been consistently raising their initial deposit limits and the minimum lot sizes over the years, as they started from just $5 minimum deposit and $2.5 minimum trade size when they started in 2008. The highest eToro leverage is 1:400, and traders can choose their leverage while opening a position. This is one of the biggest advantages of eToro, as the traders can tweak their leverage and margin on a position-by-position basis. The drawback is that scalpers do stand to lose all of their money if they are not careful with using high leverage all the time.
eToro is not an ECN broker, and even for a market maker broker, eToro spreads start from 2 pips fixed. The higher spread is another disadvantage of the broker, as nowadays, market makers are offering standard spreads starting from 0.5 pips. The high leverage and spreads can be a hindrance to successful trading unless the trader realizes the pitfalls of high-margin investments.
eToro offers attractive bonuses, which helps traders to earn up to 20% initial deposit bonus for a maximum of $10,000 eToro bonus per trading month. The company also offers seasonal promotions and CopyTrade bonuses that are designed to keep traders interested and committed to maintaining their account with eToro.
eToro has a responsive customer service channel that includes a live chat feature, but the representatives are not always knowledgeable, and traders have reported inconsistencies in the way the support staff deals with clients. However, for most traders, the customer service department should sort out issues and help traders enjoy a pleasant and excellent trading environment.
eToro is one of the few brokers that are hard to ignore, but they do have some niggling problems that need to be addressed before they can satisfy a majority of their clients. Lower spreads, improved account transparency, better trading conditions, and an overhaul of the customer service department are a few issues that can help eToro address a majority of their client issues.

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FBS Forex Broker Review

Finding the right Forex broker can be rather challenging, as there are so many to choose from. As with any form of investment it is advisable to do some research before picking the best for your needs. We are writing this FBS review to provide you with enough information to compare various brokers, and make an informed decision.

A Brief Introduction To FBS And What’s On Offer

FBS entered the world of Forex back in 2009, so can be considered well-versed in the Forex world. This broker is owned by the FBS Markets Company, who are well-known in the financial services industry. There are offices in a number of significant Asian cities, including Malaysia, China, and Kuala Lumpur. However, we should mention that FBS does not accept customers from the USA. FBS is an ECN Forex broker and has won some prestigious awards, including some issued by the World Finance Foreign Exchange Awards.
In 2013, they joined a non-profit and self-regulated partnership “Center for Regulation” by CRFIN. This has given them an enviable reputation as it means they comply with the agencies strong regulations, as well as benefit from increased security measures with regards personal data protection. There is also the promise of speedy and smooth financial transactions.
FBS.com has a great website, with heaps of useful information. Customer service is excellent, with communication possible via email, phone calls, and live chat. A number of different languages are supported, including Russian, Spanish, Turkish, Chinese, and of course English.
In general, it is USD and EUR which are the chosen currencies for opening an account, and the minimum deposit amount is $1. Which makes it a good choice for beginners with a small budget. There is also an Islamic account available. There are also a number of attractive Forex bonuses.

FBS Trading Account Features At A Glance

  • Minimum deposit of $1
  • Maximum FBS leverage of 1:3000
  • Five different types Of accounts
  • FBS spreads starting from 0 pip
  • ECN account offered with tight spreads and a commission per lot
  • Full range of payment options
  • Trading instruments include 32 currencies and two metals
  • MT4 & MT5 Trading Platform
  • Official Website : www.FBS.com

FBS Offers A Range Of Different Accounts

  • Cent account – This is perfect for beginners as it allows traders to gain real experience, but with minimal risk. The minimum deposit is only $1, and leverage is 1:1000. Minimum order volume is 0.01, and floating spreads start at 1 pip. As a beginner it is also useful to be able to use any robots and strategies, without restriction.
  • Micro account – With a micro account traders can enjoy the advantages of fixed spreads and STP trading. There is also leverage of 1:2000 and spreads fixed at 3 pips.
  • Standard account – Once traders have passed the beginners stage they can move onto a standard account. Which is better suited for traders with a little more experience, and those who are ready to test out their strategies. This accounts focus is mainly on improving profits, and reducing risk, with the introduction of reduced floating spreads. Minimum deposit is $100, and leverage is 1:2000.
  • Zero spread account – The minimum deposit for this account is $500, which makes it an option for the more serious trader. As the name implies, trades can be executed with no spread, which means a trader can get more familiar with market conditions, and how they affect trades. Many professional traders find this account very useful. A commission is charged of $20 per lot.
  • Unlimited account – This is a little different than the other accounts, as it is an ECN account. It is the option that most resembles trading conditions in the Forex market. Minimum deposit is $500, and the floating spread starts at 0.2 pip. There are no restrictions on open positions and pending orders, so traders have freedom to trade as they please.

Once you’ve funded an account with $10000, and traded 50 lots, you are invited to become a VIP client at FBS, which has certain advantages. Such as priority in processing withdrawal and deposit requests, your own account manager, VIP gifts, and a VIP client certificate.
We should also mention that FBS offers a demo account, which is always a brilliant way to start a Forex career. Trading under market conditions, but only using virtual money. With plenty of opportunities to learn more about Forex trading, as well as test out various strategies.

How Does FBS Treat Their Clients?

FBS customer support is available in 18 different languages and is designed to offer the most comprehensive support to clients from a majority of Asian, European, and Middle Eastern clients. The live chat feature is an excellent feature to get immediate assistance, and official correspondence can be made through emails or phone calls.
Unlimited account holders also enjoy SWAP-free accounts, which is a great feature for long-term traders who hold on to overnight trades. FBS account can help in reducing the cost of trading to a great extent, which is indeed one of the most significant advantages of FBS.
One of the other perceived benefits of FBS is the availability of a 100% deposit bonus, which is offered for all traders opening a new account making their first deposit. The FBS bonus is certainly not preferred, as a majority of negative FBS reviews are due to the conflicts arising between traders and FBS over withdrawal issues. Brokers only offer a bonus if traders are willing to accept their terms and conditions, and it is often difficult to satisfy these trading conditions before making a withdrawal of the initial invested amount.
The maximum leverage also plays negatively to the company’s strength, the 1:3000 leverage is indeed the highest offered by any broker in the industry. Novice and even experienced traders are susceptible to the risks of higher leverage, as a huge margin of 1:3000 can wipe out the investment with just a 3 pip move. Considering that the starting spread for the Micro account is 3 pips, it is easy to understand how a trader can face a margin call for initial deposits as low as $5. The high leverage is also another factor that contributes to the overall negative image of the company.
On the other hand, if used wisely, both leverage, as well as lower spreads, can work remarkably in the trader’s favor. Profitable FX trading is dependent on striking the perfect balance between all the different tools of the trade, and if done carefully, FBS offers the best resources for making consistent profits in the Forex markets.

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