XM Review
Overall, XM is considered a low-risk and can be summarized as trustworthy and competitive. They are regulated by the top-tier DFSA, FCA, and ASIC. The broker 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 Central Bank of Botswana.
- Louis Schoeman
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
- 4.8/5
Min Deposit
USD 5 / 67 BWP
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Crypto
Yes
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
At a Glance
| 🏛 Headquartered | Belize |
| 🌎 Global Offices | Belize, South Africa, Australia, Cyprus, Dubai |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2009 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • YouTube |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 1️⃣ Tier-1 Licenses | • Australian Securities and Investments Commission (ASIC) |
| 2️⃣ Tier-2 Licenses | • Financial Sector Conduct Authority (FSCA) • Dubai Financial Services Authority (DFSA) • Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣ Tier-3 Licenses | • International Financial Services Commission (IFSC) |
| 🪪 License Number | • Belize – 000261/158 • South Africa – 49976 • Australia – ABN 32 164 367 113, AFSL 443670 • Cyprus – 120/10 • Dubai – F003484 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | No |
| ✔️ Regional Restrictions | The United States, Canada, Israel, the Islamic Republic of Iran |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 4 |
| ✔️ PAMM Accounts | Yes |
| 💻 Liquidity Providers | None indicated |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market, Instant |
| 📊 Starting spread | From 0.0 pips |
| 📉 Minimum Commission per Trade | From $1 per share |
| 💰 Decimal Pricing | 5 points after the comma |
| 📞 Margin Call | 50% to 100% (EU) |
| 🛑 Stop-Out | 20% to 50% (EU) |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:888 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 66 Botswanan Pula (equivalent to $5) |
| ✔️ Botswana Pula Deposits Allowed? | No, only USD, GBP, EUR |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based XM customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Credit Card • Debit Card • Bank Wire Transfer • Local Bank Transfer • Skrill • Neteller • WebMoney |
| 💻 Minimum Withdrawal Time | 1 working day |
| ⏰ Maximum Estimated Withdrawal Time | 5 working days |
| 💳 Instant Deposits and Instant Withdrawals? | Yes, deposits |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • XM Mobile App |
| 💻 Tradable Assets | • Forex • Cryptocurrencies • Stock CFDs • Commodities • Equity Indices • Precious Metals • Energies • Individual Shares |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | No |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others |
| ☎️ Customer Support Languages | Multilingual |
| 👥 Copy Trading Support | Yes |
| ⏰ Customer Service Hours | 24/5 |
| 📞 Botswana-based customer support? | No |
| 💸 Bonuses and Promotions for Botswanans? | Yes |
| 📚 Education for Botswana beginner traders | Yes |
| 📱 Proprietary trading software | No |
| 🤝 Most Successful Trader in Botswana | Currently unknown |
| ✔️ Is XM a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for XM Botswana | 9/10 |
| 🥇 Trust score for XM Botswana | 90% |
| 👉 Open Account | 👉 Open Account |
Overview
Overall, they are considered low-risk, with an overall Trust Score of 90 out of 100. The broker is licensed by one Tier-1 Regulator (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). They offers four different retail trading accounts: a Micro Account, Standard Account, XM Ultra-Low Account, and a Shares Account.
The broker was founded in 2009 and provides Forex, commodities, indices, and stock trading. 2015 saw the company’s registration as a service provider under Trading Point of Financial Instruments Pty Ltd.
They are governed by five regulatory agencies, including the FSCA, IFSC, ASIC, CySEC, and DFSA. Millions of traders from over 190 countries have registered on the site. The trading philosophy focuses on developing its clientele using ethical means.
The firm prioritizes customized customization and superior client service. The broker gives access to the MetaTrader 4 and MetaTrader 5 trading platforms.
Traders who created an account with Trading Point of Financial Instruments Ltd. (Cyprus) may choose from the Micro Account, the Standard Account, the Ultra-Low Account, and the Shares Account. In addition, for each of these accounts, the broker provides an Islamic Account option.
The broker accepts Botswanan clients and has an average spread from 0.0 pips with commissions from $1 per share. XM has a maximum leverage ratio up to 1:888, and a demo and Islamic account are available.
MT4, MT5, and mobile platforms are supported. There headquartered in Belize and is regulated by FSCA, IFSC, ASIC, CySEC, and DFSA.
Distribution of Traders
currently has the largest market share in these countries:
➡️ Thailand – 21.14%
➡️ South Africa – 12.14%
➡️ Colombia – 9.08%
➡️ Egypt – 8.7%
➡️ Morocco – 4.41%
Popularity among traders
Although the broker does not have a dominant position in the Botswanan foreign exchange (FX) and contract for difference (CFD) market, it is still one of the most flexible options available to Botswanan traders. As a result, it is among the Top 10 brokers in the country.
Regulation and Safety of Funds
Regulation in Botswana
The local market regulators in Botswana are as follows:
➡️ Ministry of Finance and Economic Development (MFED)
➡️ Bank of Botswana (BoB)
➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
While they are regulated globally, the broker does not yet have local regulations or licenses in Botswana. However, the broker is a popular and trustworthy broker that accommodates Botswanan traders.
Global Regulations
The broker is a well-governed business based in Belize that does business globally via the following:
➡️ Belize – Global Limited (license number 000261/158) is governed and supervised by the International Financial Services Commission (IFSC).
➡️ Key Way Financial (Pty) Ltd, a reputable Financial Service Provider (FSP) in South Africa with the FSP number 49976 and under the supervision of the Financial Sector Conduct Authority (FSCA).
➡️ Australia – XM operates via Trading Point of Financial Instruments Pty Ltd, ABN 32 164 367 113, which is governed and approved by the Australian Securities and Investment Commission (ASIC) under AFSL 443670.
➡️ XM is subject to regulation in Cyprus by the Cyprus Securities and Exchange Commission (CySEC) via Trading Point of Financial Instruments Ltd in Limassol, under license number 120/10.
➡️ Dubai – XM is regulated by the Dubai Financial Services Authority (DFSA) via Trading Point MENA Limited, a DIFC company, under reference number F003484.
Client Fund Security and Safety Features
Features for Client Fund Security and Safety:
The Group has selected regulated companies to conduct withdrawals and deposits to ensure the security of its consumers. However, liquidity providers and XM cannot access consumer money since it is kept in a different tier 1 bank than commercial funds.
In addition, customers’ accounts may also be protected against negative balances. XM complies with the investor protection requirements set out in the Markets in Financial Instruments Directive as a participant in the Investor Compensation Fund (MiFID).
The Group works hard to provide its clients with the best trading conditions. They collaborate with a wide range of liquidity providers to ensure that they consistently have some of the lowest spreads and the most liquidity.
Is my money safe?
Yes, your funds are secure. XM is a globally recognized and regulated broker, subject to oversight by multiple reputable financial authorities, including CySEC, FCA, and ASIC, among others.
What measures does the broker have in place to protect my personal information?
XM takes the security of your personal information seriously. The broker employs advanced encryption technologies to safeguard all client data and transactions, ensuring that your sensitive information remains confidential and protected against cyber threats.
Awards and Recognition
In addition to being a reputable broker, the broker has also received several industry honors throughout the years. The most recent accolades are as follows:
➡️ Dubai Expo Awards’ Best FX Educational Broker in the MENA area in 2021.
➡️ Ultimate Fintech’s Best Trading Experience Award for 2021.
Best Foreign Exchange Service Provider in 2021 was given out at the City of London Wealth Management Wards.
What awards and recognition have they received in the financial industry?
They have received numerous awards and recognitions in the financial industry, underscoring its commitment to excellence. Over the years, XM has been honored with prestigious awards for its exceptional services, including recognition for its customer support, trading platforms, and educational resources.
How can the broker awards and recognitions benefit me as a trader?
There awards and recognitions serve as a testament to the broker’s reliability and industry leadership.
Account Types and Features
Botswana’s retail investors choose four different account kinds, each tailored to the investor’s unique trading goals. Users may pick from a variety of live account options, including the following:
➡️ Micro Account
➡️ Standard Account
➡️ Ultra-Low Account
➡️ Shares Account
| 💻 Live Account | 💳 Minimum Dep. | 📊 Average Spread | 💸 Commissions | 💰 Average Trading Cost |
| Micro | 66 BWP/5 USD | 1 pip | None | 10 USD |
| Standard | 66 BWP/5 USD | 1 pip | None | 10 USD |
| XM Ultra-Low | 66 BWP/5 USD | 0.6 pips | None | 6 USD |
| Shares | 132,000 BWP or 10,000 USD | Per exchange | From $1 | – |
Live Trading Account Details
Micro Account
Micro accounts are ideal for novice traders transitioning from risk-free trial accounts to a real trading accounts. In addition, this account type is perfect for seasoned traders who want to evaluate their trading theories.
| Account Feature | Value |
| 📉 Base Currency Options | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
| 📈 Position Size | 1,000 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 |
| 📈 The average spread on all major forex pairs | 1 pip EUR/USD |
| 💵 Commission charges | None |
| 📉 Maximum open or pending orders per trader | 300 lots |
| 💻 Minimum trade volume MetaTrader 4 | 0.1 lot |
| ✅ Hedging allowed? | Yes |
| 📱 Lot Restrictions per trade | 100 lots |
| ☪️ Islamic Account offered? | Yes |
| 📈 Minimum Deposit Requirement | 66 Botswanan Pula or an equivalent to $5 |
Standard Account
This is the account that many retail traders choose since it offers conventional spreads and a few other account features.
| Account Feature | Value |
| 📉 Base Currency Options | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
| 📈 Position Size | 100,000 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 |
| 📈 The average spread on all major forex pairs | 1 pip EUR/USD |
| 💵 Commission charges | None |
| 📉 Maximum open or pending orders per trader | 300 lots |
| 💻 Minimum trade volume MetaTrader 4 | 0.1 lot |
| ✅ Hedging allowed? | Yes |
| 📱 Lot Restrictions per trade | 50 lots |
| ☪️ Islamic Account offered? | Yes |
| 📈 Minimum Deposit Requirement | 66 Botswanan Pula or an equivalent to $5 |
Ultra-Low Account
Scalpers and other day traders may take advantage of the most advantageous trading conditions available in today’s volatile financial market by creating an account of this kind, characterized by its low trading fees.
| Account Feature | Value |
| 📉 Base Currency Options | EUR, 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 |
| 📈 The average spread on all major forex pairs | 0.6 pips EUR/USD |
| 💵 Commission charges | None |
| 📉 Maximum open or pending orders per trader | 300 lots |
| 💻 Minimum trade volume MetaTrader 4 | • Standard Ultra – 0.01 lots • Micro Ultra – 0.1 lots |
| ✅ Hedging allowed? | Yes |
| 📱 Lot Restrictions per trade | • Standard Ultra – 50 lots • Micro Ultra – 100 lots |
| ☪️ Islamic Account offered? | Yes |
| 📈 Minimum Deposit Requirement | 66 Botswanan Pula or an equivalent to $5 |
Shares Account
Through the Shares Account, Botswana’s traders have access to many stocks. In addition, traders are permitted to trade shares. In addition to offering reasonable commission rates, this account protects Botswana against negative balances.
| Account Feature | Value |
| 📉 Base Currency Options | USD |
| 📈 Position Size | 1 Share |
| 📊 Maximum Leverage Ratio | None |
| ❌ Negative Balance Protection Applied? | Yes, to all retail accounts |
| 📈 The average spread on all major forex pairs | According to the exchange |
| 💵 Commission charges | From $1 per share |
| 📉 Maximum open or pending orders per trader | 50 lots |
| 💻 Minimum trade volume MetaTrader 4 | 1 lot |
| ✅ Hedging allowed? | Yes |
| 📱 Lot Restrictions per trade | It will depend on each share |
| ☪️ Islamic Account offered? | Yes |
| 📈 Minimum Deposit Requirement | 132,000 Botswanan Pula, or an equivalent to $10,000 |
Base Account Currencies
Among the account currencies are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR.
However, BWP is not supported, which may result in currency conversion costs for Botswanans making deposits or withdrawals in Botswanan Pula.
Demo Account
A risk-free demo account enables you to evaluate a broker’s services and trading abilities.
Please be aware that your trading experience will vary between a demo account and a real-money account owing to human psychology since traders feel pressured when real money is at risk.
Utilizing the trial account to practice and understand the trading platform is a wonderful idea. However, it would help if you did not spend too much time on the demo.
Demo accounts that have not been accessed for more than ninety days will be deleted from the system. However, you may establish a new demo account at any time. Botswana-based traders are reminded, however, that they are restricted to a limit of five active demo accounts apiece.
Islamic Account
The broker gives access to the MetaTrader 4 and MetaTrader 5 trading platforms. In addition, traders who have created an account with Trading Point of Financial Instruments Ltd. (Cyprus) can choose between a Micro Account, a Standard Account, and an Zero Account.
In addition, they provide an Islamic Account option for each account type. Botswanans will be glad to learn that XM does not charge any extra fees for Islamic accounts. Many other brokers charge Islamic accounts an administrative fee instead of swaps, making this an unusual practice.
What additional features and benefits do the trading accounts offer?
The brokers trading accounts come with a range of features and benefits to enhance the trading experience. These include free access to a comprehensive suite of educational materials, webinars, and daily market analysis to help traders make informed decisions.
What types of trading accounts does the broker offer, and what are their key features?
The broker offers a range of trading account types to cater to the diverse needs of traders. The most popular account types include Micro, Standard, and Ultra Low.
How to open an Account with XM in Botswana
Creating a trading account with them will not take more than a few minutes. So, when Botswanans begin registering a new account, they can expect their account to be approved by the end of the next business day.
Follow these steps to open an account:
Step 1: Start the Application Process.
The account application process can be started by clicking on the Green “Open a live Account Here” button located on the brokers’ webpage.
Step 2: Personal and Trading Account Details
The applicant will be required to complete an application form by using their first name and surname as they are displayed in the applicant’s identity document.
Step 3: Complete Registration.
In order to complete the registration, the applicant will be required to complete sections of information, including Personal details, Investor information, Trading Knowledge, and Experience.
Just about 5 minutes will be required until you complete all account application and you can start trading within 30 minutes in the fastest case. All the certificates can be sent online and you won’t be bothered by postal mail or FAX.
After you register your personal information, you will receive the account information of Members Area. Then you are asked to upload your certificates such as personal identification or certificate of residence from your exclusive bar area. They will confirm the information you provided and the record on your certificates, then your real account will be validated within 30 minute till a day. The validation will enable you to enjoy all the services.
XM Vs OANDA Vs FP Markets – Broker Comparison
| 🥇 XM | 🥈 OANDA | 🥉 FP Markets | |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA | IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, BVI FSC | ASIC, CySEC |
| 📱 Trading Platform | • MetaTrader 5 | • MetaTrader 4 •MetaTrader 5 • HF App | • MetaTrader 4 • MetaTrader 5 • cTrader |
| 💰 Withdrawal Fee | YEs | Yes, bank wire | No |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 66 BWP | 0 BWP | 850 BWP |
| 📊 Leverage | 1:888 | 1:200 | 1:500 |
| 📊 Spread | 0.0 pips | Variable, from 0.1 pips | 0.0 pips |
| 💰 Commissions | $1 to $9 | $40 | From US$3 |
| ✴️ Margin Call/Stop-Out | • 50%/20%, • 100%/50% (EU) | 100%/ 50% | 100%/ 50% |
| 💻 Order Execution | Market, Instant | Market | Market |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • Micro Account • Standard Account • XM Ultra-Low Account • Shares Account | • Standard Account • Core Account • Swap-Free Account | • Standard Account • Raw Account • Islamic Standard Account • Islamic Raw Account |
| ⚖️ CBN Regulation | No | No | No |
| 💳 BWP Deposits | Yes | Yes | Yes |
| 📊 Botswana Pula Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 📊 Retail Investor Accounts | 4 | 3 | 4 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots | 1,000 lots | 50 lots |
| 💰 Minimum Withdrawal Time | 1 working day | 1 working day | Instant |
| 📊 Maximum Estimated Withdrawal Time | 5 working days | 7 to 10 business days | Up to 5 working days |
| 💸 Instant Deposits and Instant Withdrawals? | Yes, deposits | No | Yes, Sticpay wallet withdrawals |
Trading Platforms
offers Botswanan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ Mobile App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
MultiTerminal technology enables traders in Botswana to manage many accounts from a single screen. As a result, traders in Botswana should expect a comparable trading experience while using the MT4 platform, although with much-increased power and capacity.
The most notable difference between MT4 and MT5 is that MT4 does not provide trading on stock CFDs, but MT5 offers more features and functionalities than MT4.
Nonetheless, suppose all you need to do is observe market activity while easily placing and managing transactions. In that case, MT4 should be plenty for your purposes.
MetaTrader 5
The MT5 platform was designed to fulfil the needs of all clients, independent of trading style or asset class.
On this advanced but user-friendly platform, traders have access to more features, excellent trading tools, greater support, and complete control over their actions. As a result, Botswanan traders use MetaTrader 5, one of the world’s most advanced and extensively utilized trading platforms.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
MT4 is still and has been the platform of choice for an exceptionally long time for all types of global transactions.
It is renowned for its user-friendly interface and plethora of built-in trading tools, both of which facilitate efficient trading and detailed chart analysis. When XM originally began providing the MT4 platform, quality of trade execution was one of its key priorities.
MT4 is available to clients with variable leverage, no requotes, and no order rejections. Therefore, regardless of the kind of trader or skill level, MT4 is considered one of the most dependable platforms for online trading.
In addition, the broker gives traders access to a vast collection of video instructions that may aid them in getting familiar with the MT4 platform.
MetaTrader 5
All the great stuff found in XM MT4 is here, and more, including even more advanced trading tools. In addition, this great multi-asset platform offers an additional 1,000 CFDs on equities (shares).
You can trade foreign exchange (FX) from a single interface and contracts for difference (CFDs) on stocks, gold, oil, and equity indexes, with no rejections, no requotes, and variable leverage.
It is sufficient to use MT4 for foreign exchange trading. However, MT5 is the best option if you want access to the widest variety of trading products.
Think about how much easier it would be to diversify your portfolio in the future if you used XM’s offer in conjunction with MT5, even if you trade FX now.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ Mobile App
MetaTrader 4 and 5
Mobile trading is made easier with the Android and iOS MT4, which includes excellent charting with a wide range of advanced trading tools and other innovative enhancements.
Traders in Botswana may utilize robust trading platform from any location to access global financial markets, conduct technical analysis, monitor market activity, and place trades.
Botswana customers may have instant access to the MT4 Android, iPad, and iPhone Trader by simply downloading it.
MetaTrader, XM’s proprietary trading platform, was developed to maximize the advanced features of a wide range of mobile devices, giving each trader a one-of-a-kind trading experience.
Mobile App
mobile trading app is compatible with iPads, iPhones, and other smartphones running the iOS or Android operating systems:
➡️ Traders in Botswana may use this high-tech customized tool.
➡️ Over a thousand instruments are available for trading using the app’s user interface.
➡️ Orders are executed instantly with no requotes.
➡️ Make use of the app’s settings to fine-tune your trading profile.
➡️ The ability to see current, up-to-the-minute charts
➡️ Over 90 unique technical indicators are available.
➡️ Unlimited access to the most recent reports, studies, and market analyses.
Through integration with the app and MetaTrader 5, you could access even more features and benefits by linking the app to the platform.
What trading platforms are available at XM, and which one should I choose?
They offers a variety of trading platforms to cater to different trader preferences and needs. The most popular choices are MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which are highly respected and widely used in the industry.
Do I need to download software to access there trading platforms?
While XM does offer downloadable versions of MetaTrader 4 and MetaTrader 5 for those who prefer to have the platforms installed on their computers, it’s not mandatory.
Range of Markets
Botswanan traders can expect the following range of markets:
➡️ Forex
➡️ Cryptocurrencies
➡️ Stock CFDs
➡️ Commodities
➡️ Equity Indices
➡️ Precious Metals
➡️ Energies
➡️ Individual Shares
Financial Instruments and Leverage
| 🔨 Instrument | 💰 Number of Assets Offered | 📈 Max Leverage Offered |
| ➡️ Forex | 48 | • Major – 1:200 • Minor – 1:200 • Exotic – 1:100 |
| ➡️ Stocks | 200+ | 1:100 |
| ➡️ Precious Metals | 7 | 1:20 |
| ➡️ Cryptocurrency | 10 | 1:100 |
| ➡️ ETFs | 13 | 1:5 |
What financial markets can I trade?
The broker offers a diverse range of financial markets for traders to explore. These markets include Forex, where you can trade major, minor, and exotic currency pairs.
Are there any restrictions on trading specific markets?
While they offer a wide array of markets, it’s important to note that trading availability may vary depending on your geographical location due to regulatory considerations.
Broker Comparison for Range of Markets
| 🥇 XM | 🥈 OANDA | 🥉 FP Markets | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | No | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | No |
| ➡️️ Options | No | Yes | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | Yes | No |
Trading and Non-Trading Fees
Spreads
offers fractional pip pricing to give its clients the best possible prices from its many liquidity providers.
If prices are shown with five digits instead of four, buyers may capitalize on even the smallest price fluctuations (fraction).
Many retail traders like fractional pip pricing and tighter spreads since they allow for more accurate trades. Based on their account type, Botswanan traders should anticipate the following spreads:
➡️ Micro Account – 1 pip EUR/USD
➡️ Standard Account – 1 pip EUR/USD
➡️ Ultra-Low Account – 0.6 pips EUR/USD
➡️ Shares Account – According to the exchange being traded
Commissions
Commissions are levied on Botswanan traders who sign up for and use the Shares Account. Depending on the number of shares moved and the underlying exchange, the fees for this account might be anywhere from $1 to $9.
Overnight Fees, Rollovers, or Swaps
When determining the cost of holding a position overnight, Botswanan traders must consider several variables, including the kind of financial instrument traded, whether long or short positions are maintained, the amount of money transferred, and so on.
The following are the swap fees charged/paid:
| 🔨 Instrument | 💰 Long Swap (Buy) | 📈 Short Swap (Sell) |
| ➡️ AUD/CAD | -3.93 pips | -3.4 pips |
| ➡️ AUD/CHF | -1.24 pips | -4.04 pips |
| ➡️ CHF/JPY | -7.17 pips | -3.07 pips |
| ➡️ AUD/USD | -2.34 pips | -1.54 pips |
| ➡️ EUR/USD | -5.43 pips | -0.83 pips |
| ➡️ GBP/CAD | -5.9 pips | -8.3 pips |
Deposit and Withdrawal Fees
Traders in Botswana may fund and withdraw funds from their accounts free of charge. However, brokers and their clients may be subject to processing costs.
Inactivity Fees
Group levies a $5 monthly inactivity fee or the full amount of the free balance if the free balance is less than $5 for these accounts if the free balance is less than $5.
A trading account will be closed without any activity for 90 consecutive days. When the available balance in a trading account is zero, there is no charge.
Currency Conversion Fees
Because the broker only accepts deposits and withdrawals in the following currencies: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR (with fewer possibilities on the Shares and Ultra-Low Account), traders in Botswana who deposit in BWP will be subject to currency translation costs.
What are the trading fees associated?
They offers a transparent fee structure for its trading services. The primary cost associated is the spread, which is the difference between the buying (ask) and selling (bid) prices of an asset. These spreads can vary depending on the type of account you choose and the specific asset you are trading. also offers a commission-based account option, where a fixed commission fee is charged per lot traded.
Are there non-trading fees that I should be aware of when using the broker?
The broker is committed to maintaining a competitive and transparent fee structure. Non-trading fees are minimal.
How to Deposit Funds
To deposit funds to an account with XM, Botswanan traders can follow these steps:
➡️ Botswanan traders may access the members-only section by clicking “Members Login” on the website.
➡️ Traders can then log in using their account ID and password.
➡️ Traders can choose their preferred deposit method, enter the required amount, and click the “Deposit” button.
➡️ Finally, Traders must verify their identification and the amount of their deposit and supply any further information necessary by their payment source.
Deposits and Withdrawals
offers the following deposit and withdrawal methods:
➡️ Credit Card
➡️ Debit Card
➡️ Bank Wire Transfer
➡️ Local Bank Transfer
➡️ Skrill
➡️ Neteller
➡️ WebMoney
Broker Comparison: Deposit and Withdrawals
| 🥇 XM | 🥈 OANDA | 🥉 FP Markets | |
| Minimum Withdrawal Time | 1 working day | 1 working day | Instant |
| Maximum Estimated Withdrawal Time | 5 working days | 7 to 10 business days | Up to 5 working days |
| Instant Deposits and Instant Withdrawals? | Yes, deposits | No | Yes, Sticpay wallet withdrawals |
Deposit Currencies, Deposit and Withdrawal Processing Times
| 💳 Payment Method | 💵 Deposit Currencies | 💳 Deposit Processing | 💰 Withdrawal Processing |
| Credit Card | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 2 to 5 working days |
| Debit Card | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 2 to 5 working days |
| Bank Wire Transfer | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 3 to 5 working days |
| Local Bank Transfer | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | 1 working day | 3 to 5 working days |
| Skrill | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | 1 working day | 1 working day |
| Neteller | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 1 working day |
| WebMoney | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 1 working day |
How can I deposit funds into my trading account?
The broker offers a wide range of convenient deposit methods to cater to traders worldwide. You can fund your trading account using popular payment options such as credit/debit cards, bank wire transfers, and a variety of e-wallet services, including Skrill, Neteller, and PayPal.
What is the process for withdrawing funds from my trading account?
Withdrawing funds from your trading account is a straightforward process designed for your convenience. You can request a withdrawal by logging into your account and submitting a withdrawal request through the Members Area.
Fund Withdrawal Process
To withdraw funds from an account, Botswanan traders can follow these steps:
➡️ Botswanan traders can access their My Account page through there website.
➡️ Depending on their deposit method, traders can withdraw money by choosing “Withdraw” from the main menu and the appropriate withdrawal option.
➡️ Traders can enter the withdrawal amount and submit the withdrawal request after checking the details.
Education and Research
Education
offers the following Educational Materials:
➡️ Live
➡️ Live Education
➡️ Live Education Schedule
➡️ Educational Videos
➡️ Forex Webinars
➡️ Platform Tutorials
➡️ Forex Seminars
Research and Trading Tool Comparison
| 🥇 XM | 🥈 OANDA | 🥉 FP Markets | |
| ➡️ Economic Calendar | Yes | Yes | Yes |
| ➡️ VPS | Yes | Yes | Yes |
| ➡️ AutoChartist | No | Yes | Yes |
| ➡️ Trading View | No | Yes | No |
| ➡️ Trading Central | Yes | Yes | Yes |
| ➡️ Market Analysis | Yes | Yes | Yes |
| ➡️ News Feed | Yes | Yes | Yes |
| ➡️ Blog | Yes | Yes | Yes |
also offers Botswanan traders the following additional Research and Trading Tools:
➡️ Trading Tools
➡️ MQL5
➡️ Forex Calculators
➡️ Markets Overview
➡️ News Feed
➡️ Research
➡️ Trade-Ideas
➡️ Technical Summaries
➡️ Economic Calendar
➡️ TV
➡️ Podcasts
What educational resources does the broker provide to traders?
The broker is committed to empowering traders with knowledge and skills, and as such, it offers a wealth of educational resources. These include comprehensive video tutorials, webinars, seminars, and daily market analysis.
Do they offer research tools to assist traders in their analysis?
Yes, they provides a suite of research tools and resources to assist traders in their market analysis. These tools include an economic calendar, which highlights key economic events and their potential impact on the markets.
Bonuses and Promotions
The broker provides a variety of promos and incentives to entice new traders to join the platform, as well as to reward existing users and traders.
The trader’s account will be credited with $30 regardless of whether a deposit is made. Additionally, the trader may get a 50% deposit bonus on top of a 20% deposit bonus for a total benefit of up to $4,000. The following resources are available to Botswanan traders:
➡️ Current clients may participate in “Trade and Win” competitions and events.
➡️ Referral Program and Loyalty Bonus.
➡️ Gala Event 2023, where traders can win prizes over 360,000 BWP.
➡️ Qualified customers pay no fees for making deposits or withdrawals of up to $200 using major credit cards, electronic payment providers, or bank wire transfers.
What bonuses and promotions do they offer to its clients?
The broker frequently runs various bonuses and promotions to reward its clients and enhance their trading experience. One of the notable promotions is the Loyalty Program, where traders earn Points for each lot traded, which can later be redeemed for credit bonuses or other rewards.
Are there any terms and conditions associated with bonuses and promotions?
Yes, XM’s bonuses and promotions come with specific terms and conditions that traders should be aware of. These conditions typically include trading volume requirements (trading a certain number of lots) that need to be met before bonus funds can be withdrawn.
How to open an Affiliate Account
To register an Affiliate Account, Botswanan traders can follow these steps:
➡️ Prospective affiliates should visit the website and click on “Partnerships” at the top of the homepage to learn more.
➡️ Prospective Affiliates may learn about the several partnership kinds, enabling them to pick between Business Introducers and Web Affiliates.
➡️ Prospective affiliates may access an online application by clicking “Register Here” in the appropriate section.
➡️ Complete the form and send it to XM for evaluation and approval.
➡️ Once accepted, affiliates get access to XM’s full resources and tools
Affiliate Program Features
Among the things that affiliates can anticipate:
➡️ The Partner Program gives customers a attractive commission rates of up to $25 per lot.
➡️ The opportunity to move money between IB and client trading accounts at no additional cost.
➡️ There are no restrictions on how much you can earn for each client with the Partner Program. If they continue to trade, customers will continue to generate commissions for you. Since the broker does not impose any restrictions, your earnings are purely reliant on the trading activity of your clients.
➡️ The Partner Program offers attractive commission rates and a high percentage of client retention.
➡️ There is no limit on the amount of commission you may earn every week.
➡️ The fast pay-out of your money is one of the most crucial aspects of the Partner Program. This is because one of the fundamental tenets is the availability of rapid withdrawals in general.
➡️ Partners have access to a resolute Personal Account Manager who will collaborate closely with you at every level to ensure that you maximize your earnings potential via using there products.
➡️ Each contest is intended to persuade participants to open an account or increase their trading volume. In every case, your commissions will increase.
➡️ To encourage new customers to open trading accounts, they provide a variety of ongoing discounts and reward schemes. These may be used to boost conversion rates.
➡️ The broker offers promotional materials such as banners, unique tracking links, emails, landing pages, ready-made websites, certificates, and seals.
➡️ They provide access to real-time data and analytics designed specifically to help you increase your profitability and monitor all aspects of your success.
➡️ XM is devoted to maintaining client security and the protection of client funds, which is supported by several licenses and registrations with global authorities.
➡️ If you bring another partner to them, the new partner automatically becomes your sub-partner. In return, XM will give you a 10% commission on any earnings achieved by the sub-partner.
➡️ Earn more income from your affiliate marketing activities and benefit from additional incentives. The program works with your affiliate program and has the same point system. At any moment, you can swap your points for cash.
What are the key features of the Affiliate Program?
The Affiliate Program is a robust offering designed to allow individuals and organizations to partner and earn commissions by referring new clients to the broker.
How can I become an affiliate, and is there a requirement to join?
Becoming an affiliate with XM is a straightforward process, and there are no specific requirements to join.
Customer Support
XM provides award-winning assistance in various languages through many means of contact. In addition, traders may call XM 24 hours a day, five days a week, for prompt and friendly support.
| Customer Support | XM’s Customer Support |
| ⏰ Operating Hours | 24/5 |
| 🗣 Support Languages | English, Chinese, Russian, French, Italian, Spanish, Portuguese, Polish, Arabic, and more |
| 🗯 Live Chat | Yes |
| 📧 Email Address | Yes |
| ☎️ Telephonic Support | Yes |
| 📞 Local Support in Botswana? | No |
| 🥇 Overall quality of XM Support | 4.6/5 |
Corporate Social Responsibility
The brokers desires to positively impact the lives of individuals worldwide, regardless of their religion, culture, or moral values, by aiding them in reaching their greatest potential. Therefore, XM supports the following causes:
➡️ Education and Skills Development by developing initiatives to help people acquire the necessary education. Individuals may also obtain vital work skills via participation in these programs.
➡️ Research & Development – supports research, development, and innovation initiatives with an eye toward a greater objective.
➡️ The broker and its resolute personnel have worked with local and international human aid organizations to make the world a better place.
Recently, XM and MyCARE cooperated on a disaster relief effort in Malaysia to assist those affected by the December 2021 floods that devastated major portions of the nation.
MyCARE, a charitable organization that has tirelessly fought to support economically disadvantaged families, has been recognized by the United Nations Economic and Social Council as deserving of this honour.
Plan Korea is a Korean children’s charity devoted to improving the lives of children and ensuring that females have equal rights and opportunities. They have given to this organization. Plan Korea also includes anti-discrimination and education activities.
The broker also assists youth in developing nations. In addition, the broker collaborates with other humanitarian organizations to improve their quality of life and ensure they have the funds to satisfy their needs.
As part of the UNHCR’s emergency response strategy for unaccompanied refugee children entering Greece, XM has worked with the UN Refugee Agency (UNHCR). In Greece, almost 5,000 unaccompanied minors have arrived, yet only 2,225 are housed and cared for.
They collaborated with Malaysia’s Bendera Putih (White Flag) initiative in December 2021 to assist those in need during the COVID-19 epidemic.
In July of 2021, XM sent three hundred food boxes to the Bendera Putih project and then collaborated with De.Wan restaurant to provide an additional two hundred and fifty take-out meal boxes for those who did not have the financial means to buy food daily.
What is the brokers approach to Corporate Social Responsibility (CSR)?
The broker takes Corporate Social Responsibility (CSR) seriously and is committed to making a positive impact on society.
How can clients and partners get involved in the company’s CSR initiatives?
Clients and partners of the broker can actively participate in the company’s CSR efforts by staying informed about its various initiatives and events. they often encourages its trading community to engage in charitable activities, donate to causes supported by the company, or participate in events designed to raise awareness and funds for social and environmental issues.
Our Verdict
Group has become a significant leader in its sector. Since 2009, the organization has grown its financial services across various areas and geographies.
XM is suitable for both novice and experienced traders. The broker provides the famous MetaTrader 4 and MetaTrader 5 platforms. In addition, the firm also offers a proprietary mobile trading platform.
Customers may choose from four account kinds and various base currencies for these accounts. In addition, beginner traders will benefit from the broker’s extensive instructional help.
In addition, the minimum deposit is just $5, allowing novice traders to make their initial trades without risking much capital.
Advanced traders will concentrate on the tight-spread, commission-free Zero Account and use the robust research assistance. In addition, the Group provides great customer service. The live chat feature guarantees that beginner traders get optimal assistance as they advance in their trading.
Pros and Cons
| ✔️ Pros | ❌ Cons |
| According to their trading tactics, Botswanan traders are not limited | XM charges inactivity fees and currency conversion fees on BWP deposits and withdrawals |
| There is a vast selection of tradable instruments available to Botswanan traders | Botswanans cannot open a BWP account with XM |
| XM provides some of the lowest industry trading costs | |
| Beginner traders from Botswana may open a free trial account | |
| Negative balance protection and client money security are implemented in XM’s retail accounts | |
| Muslim traders may convert a live account to an Islamic account | |
| XM provides a respectable assortment of account types, trading platforms, trading tools, and educational resources | |
| Tier-1, Tier-2, and Tier-3 authorities in Australia, Cyprus, South Africa, Dubai, and Belize regulate XM |
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Frequently Asked Questions
Is XM safe or a scam?
XM has a trust score of 90%, is regulated by Tier-1, Tier-2, and Tier-3 market authorities, has won several awards, and has a solid reputation in the financial services sector.
Is XM regulated?
XM is well-regulated by CySEC, ASIC, FSCA, IFSC, and DFSA.
Does XM have Nasdaq?
You can trade NASDAQ (US100) on XM for cash or as a futures CFD. XM’s cash index CFDs are untimed transactions priced according to the cash value of the underlying index, considering interest and dividends.
In addition, Index futures CFDs have definite expiration dates and pay-out in cash on that day.
What is the withdrawal time with XM?
At XM, withdrawal times might be anything from one business day up to five business days, depending on the chosen withdrawal method.
Does XM have Volatility 75?
Although XM offers 14 stock indexes, the Volatility 75 Index is not included in this promotion.
Is XM regulated in Botswana?
XM is not regulated locally in Botswana.
How can I withdraw funds from XM?
You must have a verified trading account and enough free margin. Next, you can log into your client portal, select the option to withdraw, choose a method, provide the amount, and complete the withdrawal request.
Does XM have an inactivity fee?
XM charges an inactivity fee of $5 monthly after an account goes dormant after 90 calendar days.
Conclusion
Now it is your turn to participate:
➡️ Do you have any prior experience with XM?
➡️ What was the determining factor in your decision to engage with XM?
➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
➡️ Have you experienced any issues with XM, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
