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 Central Bank of Botswana.
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Trading Platforms
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
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
XM Review – 23 key points quick overview:
XM Overview
👉 Overall, XM is considered low-risk, with an overall Trust Score of 90 out of 100. XM is licensed by one Tier-1 Regulator (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). XM offers four different retail trading accounts: a Micro Account, Standard Account, XM Ultra-Low Account, and a Shares Account.
👉 XM 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.
👉 XM is governed by five regulatory agencies, including the FSCA, IFSC, ASIC, CySEC, and DFSA. Millions of XM traders from over 190 countries have registered on the site. The XM trading philosophy focuses on developing its clientele using ethical means.
👉 The firm prioritizes customized customization and superior client service. XM 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 XM Ultra-Low Account, and the Shares Account. In addition, for each of these accounts, the broker provides an Islamic Account option.
👉 XM 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 XM mobile platforms are supported. XM is headquartered in Belize and is regulated by FSCA, IFSC, ASIC, CySEC, and DFSA.
XM Distribution of Traders
👉 XM 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 who choose XM
👉 Although XM 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.
XM 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 |
XM Regulation and Safety of Funds
XM 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 XM is regulated globally, the broker does not yet have local regulations or licenses in Botswana. However, XM is a popular and trustworthy broker that accommodates Botswanan traders.
XM Global Regulations
👉 XM is a well-governed business based in Belize that does business globally via the following:
➡️ Belize – XM 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.
XM Client Fund Security and Safety Features
👉 Features for XM Client Fund Security and Safety
👉 The XM 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 XM 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.
XM Awards and Recognition
👉 In addition to being a reputable broker, XM has also received several industry honours 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.
XM 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 from XM, including the following:
➡️ Micro Account
➡️ Standard Account
➡️ XM 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 | – |
XM 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 |
XM 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 |
XM Base Account Currencies
👉 Among the account currencies offered by XM 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.
XM 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.
XM Islamic Account
👉 XM 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 XM Zero Account.
👉 In addition, XM provides 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.
How to open an Account with XM in Botswana
👉 Creating a trading account with XM 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 with XM, Botswanan traders:
➡️ Traders from Botswana are asked to submit an online application in which they must include personal information, information about their occupation, source of funds, and trading experience, among other categories.
➡️ Additionally, after completing the form, Botswanan traders must complete the Know Your Customer (KYC) process, which asks them to verify their identity and place of residence.
➡️ Once the information and papers have been checked and validated, the account will be approved.
➡️ Traders can deposit funds to begin trading after their accounts have been authorized.
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 |
XM Trading Platforms
👉 XM offers Botswanan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ XM Mobile App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
MetaTrader 4
👉 XM’s 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 XM MT5 platform was designed to fulfil the needs of all XM 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 XM 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, XM 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
➡️ XM Mobile App
MetaTrader 4 and 5
👉 Mobile trading is made easier with the XM 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 XM’s robust trading platform from any location to access global financial markets, conduct technical analysis, monitor market activity, and place trades.
👉 XM’s 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.
XM Mobile App
👉 XM’s 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 XM app and MetaTrader 5, you could access even more features and benefits by linking the app to the platform.
XM Range of Markets
👉 Botswanan traders can expect the following range of markets from XM:
➡️ Forex
➡️ Cryptocurrencies
➡️ Stock CFDs
➡️ Commodities
➡️ Equity Indices
➡️ Precious Metals
➡️ Energies
➡️ Individual Shares
Financial Instruments and Leverage offered by XM
| 🔨 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 |
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 |
XM Trading and Non-Trading Fees
Spreads
👉 XM 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 XM’s fractional pip pricing and tighter spreads since they allow for more accurate trades. Based on their account type, Botswanan traders with XM should anticipate the following 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
👉 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 with XM, 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 by XM:
| 🔨 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 at XM free of charge. However, brokers and their clients may be subject to processing costs.
Inactivity Fees
👉 XM 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 XM 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.
XM Deposits and Withdrawals
👉 XM 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 |
XM 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 to Deposit Funds with XM
👉 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.
XM Fund Withdrawal Process
👉 To withdraw funds from an account with XM, Botswanan traders can follow these steps:
➡️ Botswanan traders can access their My Account page through the XM 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.
XM Education and Research
Education
👉 XM offers the following Educational Materials:
➡️ XM 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 |
👉 XM also offers Botswanan traders the following additional Research and Trading Tools:
➡️ Trading Tools
➡️ MQL5
➡️ Forex Calculators
➡️ Markets Overview
➡️ News Feed
➡️ XM Research
➡️ Trade-Ideas
➡️ Technical Summaries
➡️ Economic Calendar
➡️ XM TV
➡️ Podcasts
XM Bonuses and Promotions
👉 XM 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.
➡️ XM Referral Program and Loyalty Bonus.
➡️ XM 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.
How to open an Affiliate Account with XM
👉 To register an Affiliate Account, Botswanan traders can follow these steps:
➡️ Prospective affiliates should visit the XM 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
XM Affiliate Program Features
👉 Among the things that affiliates can anticipate from XM are:
➡️ The XM Partner Program gives customers brought to XM 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 XM Partner Program. If they continue to trade, customers will continue to generate commissions for you. Since XM does not impose any restrictions, your earnings are purely reliant on the trading activity of your clients.
➡️ The XM 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 with XM.
➡️ The fast pay-out of your money is one of the most crucial aspects of the XM Partner Program. This is because one of the fundamental tenets of XM is the availability of rapid withdrawals in general.
➡️ XM 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 XM’s products.
➡️ Each contest is intended to persuade participants to open an account with XM or increase their trading volume. In every case, your commissions will increase.
➡️ To encourage new customers to open trading accounts, XM provides a variety of ongoing discounts and reward schemes. These may be used to boost conversion rates.
➡️ XM offers promotional materials such as banners, unique tracking links, emails, landing pages, ready-made websites, certificates, and seals.
➡️ XM provides 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 XM, 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.
XM 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 |
XM Corporate Social Responsibility
👉 XM 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 – XM supports research, development, and innovation initiatives with an eye toward a greater objective.
➡️ XM 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. XM has given to this organization. Plan Korea also includes anti-discrimination and education activities.
👉 XM 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.
👉 XM 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.
Our Verdict on XM
👉 XM 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. XM 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 XM Group provides great customer service. The live chat feature guarantees that beginner traders get optimal assistance as they advance in their trading.
XM 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 |
FAQ
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.
