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XM Review

XM Review is a large and well-known broker that offers several markets and has recently introduced thematic indices. XM has a high trust score of 90% and offers all new Botswanan clients a $30 no-deposit bonus.

Updated : May 30, 2024

Jump to:

005 regulations book


005 feature selection

Regulation and Safety of Funds


Awards and Recognition

007 fees

Account Types and Features


Account Registration


Broker Comparison

003 responsive design

Trading Platforms

003 stock market

Range of Markets



001 cash withdrawal

Deposit and Withdrawels

003 research

Education and Research


Bonuses and Promotions

001 cash withdrawal

Affiliate Programs

customer service

Customer Support

002 affiliate marketing

Social Responsibility

008 auction

Final Verdict

004 review

Pros and Cons

001 question


Overall Rating

Min Deposit

USD 5 / 67 BWP



Trading Desk

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

Total Pairs


Islamic Account


Trading Fees

No (Just spread)

Account Activation Time

24 Hours

XM At a Glance

🏛 HeadquarteredBelize
🌎 Global OfficesBelize, 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 Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded2009
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• YouTube
• Instagram
• LinkedIn
⚖️ RegulationFSCA, IFSC, ASIC, CySEC, DFSA
✔️ Regional RestrictionsThe United States, Canada, Israel, the Islamic Republic of Iran
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts4
✔️ PAMM AccountsYes
💻 Liquidity ProvidersNone indicated
✔️ Affiliate ProgramYes
📱 Order ExecutionMarket, Instant
📊 Starting spreadFrom 0.0 pips
📉 Minimum Commission per TradeFrom $1 per share
💰 Decimal Pricing5 points after the comma
📞 Margin Call50% to 100% (EU)
🛑 Stop-Out20% to 50% (EU)
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size100 lots
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage1:888
📊 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 Stats250,000+
👥 Active Botswana-based XM customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, 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 Time1 working day
⏰ Maximum Estimated Withdrawal Time5 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
• Stock CFDs
• Commodities
• Equity Indices
• Precious Metals
• Energies
• Individual Shares
✔️ Offers USD/BWP currency pair?No
📊 USD/BWP Average SpreadNo
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others
☎️ Customer Support LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/5
📞 Botswana-based customer support?No
💸 Bonuses and Promotions for Botswanans?Yes
📚 Education for Botswana beginner tradersYes
📱 Proprietary trading softwareNo
🤝 Most Successful Trader in BotswanaCurrently unknown
✔️ Is XM a safe broker for Botswana Traders?Yes
🎖 Rating for XM Botswana9/10
🥇 Trust score for XM Botswana90%
👉 Open Account👉 Open Account




XM is a leading forex and CFD brokerage firm that has expanded its reach to over 196 countries since its establishment in 2009, including Botswana.

XM’s compliance with multiple regulatory bodies, including the Cyprus Securities and Exchange Commission, the Australian Securities and Investments Commission, and the International Financial Services Commission Belize, provides a secure trading environment for traders in Botswana.


Furthermore, XM offers a wide range of products, including over 55 currency pairs and diverse CFDs covering commodities, precious metals, energy, and equity indices.

XM’s technology and infrastructure, including the acclaimed MetaTrader 4 and MetaTrader 5 platforms, are known for their reliability and advanced analytical tools.


XM also prioritizes trader education and support, organizing regular seminars, workshops, and daily market research and news feeds. With over 10 million clients worldwide, XM is a leading player in online forex and CFD trading and one of the best brokers for Botswanans.


How long has XM been operating?

XM was founded in 2009 and has since become a well-known and reputable broker in the financial world.


Can Botswanan traders contact XM customer service at any time?

Yes, XM offers Botswanan traders 24/7 customer support, guaranteeing that help is accessible whenever required.


Regulation and Safety of Funds

 Review Regulation And Safety


XM Regulation in Botswana

XM is not regulated in Botswana by the Ministry of Finance and Economic Development (MFED), the Bank of Botswana (BoB), or the Non-Bank Financial Institutions Regulatory Authority (NBFIRA). However, XM’s global regulations are listed in the table below.


Global Regulations

💻 Registered Entity💵 Country of Registration💸 Registration Number📈 Regulatory Entity📊 Tier📉 License Number/Ref
XM Global LimitedBelizeIFSC3000261/158
Key Way Financial (Pty) LtdSouth Africa2018/527968/07FSCA249976
Trading Point of Financial Instruments Pty LtdAustraliaABN 32 164 367ASIC1AFSL 443670
Trading Point of Financial Instruments LtdCyprusCySEC2120/10
Trading Point MENA LimitedDubaiDFSA
Trading Point of Financial Instruments UK LimitedUnited Kingdom09436004FCA1705428


Protection of Client Funds

🔎Security Measure 📱Information
Segregated AccountsYes
Compensation Fund MemberYes
Compensation Amount€20,000 or 90% of the covered investors
claim, whichever is lower.
SSL CertificateYes
2FA (Where Applicable)Yes
Privacy Policy in PlaceYes
Risk Warning ProvidedYes
Negative Balance ProtectionYes
Guaranteed Stop-Loss OrdersYes


Are my personal and financial information secure with XM?

XM employs SSL encryption to protect your personal and financial information from unwanted access.


How does XM guarantee the protection of my funds?

XM safeguards customer funds by keeping them in segregated accounts at top-tier institutions, away from the company’s funds, to prevent abuse.

Awards and Recognition

Awards and Recognition


We went onto XM’s official website to discover what awards and recognition the broker has received. Here are the most recent awards that XM has won:

  • Best FX Customer Service in 2023, awarded by the World Finance Forex Awards.
  • Best FX Broker in Europe, awarded by the World Finance Forex Awards in 2023.
  • Best FX Broker in Australasia in 2023, awarded by the World Finance Forex Awards.
  • Best FX Broker in Latin America in 2023, awarded by the World Finance Forex Awards.
  • Best FX Broker in the Middle East in 2023, awarded by the World Finance Forex Awards.
  • Best Customer Support Globally for 2023, awarded by CFI.co (Capital Finance International Magazine).
  • Best CFD Provider in 2023, awarded by the City of London Wealth Management Awards.


What awards and recognition have they received in the financial industry?

They have received numerous awards and recognitions in the financial industry, underscoring their 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?

Their awards and recognitions serve as a testament to the broker’s reliability and industry leadership.

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, including the following:

➡️ Micro Account

➡️ Standard Account

➡️ Ultra-Low Account

➡️ Shares Account


💻 Live Account💳 Minimum Dep.👉 Open Account📊 Average Spread💸 Commissions
Micro66 BWP/5 USD👉 Open Account1 pipNone
Standard66 BWP/5 USD👉 Open Account1 pipNone
XM Ultra-Low66 BWP/5 USD👉 Open Account0.6 pipsNone
Shares132,000 BWP or 10,000 USD👉 Open AccountPer exchangeFrom $1


Live Trading Account Details

Micro Account


 Review Micro Account


Micro accounts are ideal for novice traders transitioning from risk-free trial accounts to real trading accounts. In addition, this account type is perfect for seasoned traders who want to evaluate their trading theories.

Account FeatureValue
📉 Base Currency OptionsUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📈 Position Size1,000 base currency units = 1 Lot
📊 Maximum Leverage Ratio• Account balance of $5 – $20,000 = 1:1 to 1:888
• $20,001 to $100,000 = 1:1 to 1:200
• $100,001+ – 1:1 to 1:100
❌ Negative Balance Protection Applied?Yes, to all retail accounts
📈 The average spread on all major forex pairs1 pip EUR/USD
💵 Commission chargesNone
📉 Maximum open or pending orders per trader300 lots
💻 Minimum trade volume MetaTrader 40.1 lot
✅ Hedging allowed?Yes
📱 Lot Restrictions per trade100 lots
☪️ Islamic Account offered?Yes
📈 Minimum Deposit Requirement66 Botswanan Pula or an equivalent to $5
👉 Open Account👉 Open Account


Standard Account


 Review Standard Account


This is the account that many retail traders choose since it offers conventional spreads and a few other account features.

Account FeatureValue
📉 Base Currency OptionsUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR
📈 Position Size100,000 base currency units = 1 Lot
📊 Maximum Leverage Ratio• Account balance of $5 – $20,000 = 1:1 to 1:888
• $20,001 to $100,000 = 1:1 to 1:200
• $100,001+ – 1:1 to 1:100
❌ Negative Balance Protection Applied?Yes, to all retail accounts
📈 The average spread on all major forex pairs1 pip EUR/USD
💵 Commission chargesNone
📉 Maximum open or pending orders per trader300 lots
💻 Minimum trade volume MetaTrader 40.1 lot
✅ Hedging allowed?Yes
📱 Lot Restrictions per trade50 lots
☪️ Islamic Account offered?Yes
📈 Minimum Deposit Requirement66 Botswanan Pula or an equivalent to $5
👉 Open Account👉 Open Account


Ultra-Low Account


 Review 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 FeatureValue
📉 Base Currency OptionsEUR, USD, GBP, AUD, ZAR, SGD
📈 Position Size• Standard Ultra – 100,000 = 1 lot
• Micro Ultra – 1,000 = 1 lot
📊 Maximum Leverage Ratio• Account balance of $5 – $20,000 = 1:1 to 1:888
• $20,001 to $100,000 = 1:1 to 1:200
• $100,001+ – 1:1 to 1:100
❌ Negative Balance Protection Applied?Yes, to all retail accounts
📈 The average spread on all major forex pairs0.6 pips EUR/USD
💵 Commission chargesNone
📉 Maximum open or pending orders per trader300 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 Requirement66 Botswanan Pula or an equivalent to $5
👉 Open Account👉 Open Account


Shares Account


 Review 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 FeatureValue
📉 Base Currency OptionsUSD
📈 Position Size1 Share
📊 Maximum Leverage RatioNone
❌ Negative Balance Protection Applied?Yes, to all retail accounts
📈 The average spread on all major forex pairsAccording to the exchange
💵 Commission chargesFrom $1 per share
📉 Maximum open or pending orders per trader50 lots
💻 Minimum trade volume MetaTrader 41 lot
✅ Hedging allowed?Yes
📱 Lot Restrictions per tradeIt will depend on each share
☪️ Islamic Account offered?Yes
📈 Minimum Deposit Requirement132,000 Botswanan Pula, or an equivalent to $10,000
👉 Open Account👉 Open Account


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


Review 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


Review 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 broker’s 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 step-by-step

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.


How to open an Account with XM step 1


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.


How to open an Account with XM step 2

How to open an Account with XM step 2


Step 3:  Complete Registration.

To complete the registration, the applicant will be required to complete sections of information, including Personal details, Investor information, Trading Knowledge, and Experience.


How to open an Account with XM step 3


How to open an Account with XM step 3


How to open an Account with XM step 3


Just about 5 minutes will be required until you complete all account applications 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 the 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 minutes to a day. The validation will enable you to enjoy all the services.


What trading platforms are accessible to Botswanan traders when establishing an XM account?

Botswanan traders can choose between MetaTrader 4 and MetaTrader 5 as their chosen trading platform when they register an XM account.


What personal information is needed to create an XM account for Botswanan traders?

When registering an XM account, Botswanan traders must supply personal information such as their name, address, email, and phone number, as well as evidence of identification and residence.

XM Vs OANDA Vs FP Markets – Broker Comparison

🥇 XM🥈 OANDA🥉 FP Markets
📱 Trading Platform• MetaTrader 5• MetaTrader 4
•MetaTrader 5
• HF App
• MetaTrader 4
• MetaTrader 5
• cTrader
💰 Withdrawal FeeYEsYes, bank wireNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit66 BWP0 BWP850 BWP
📊 Leverage1:8881:2001:500
📊 Spread0.0 pipsVariable, from 0.1 pips0.0 pips
💰 Commissions$1 to $9$40From US$3
✴️ Margin Call/Stop-Out• 50%/20%,
• 100%/50% (EU)
100%/ 50%100%/ 50%
💻 Order ExecutionMarket, InstantMarketMarket
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 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 RegulationNoNoNo
💳 BWP DepositsYesYesYes
📊 Botswana Pula AccountNoNoNo
👥 Customer Service Hours24/524/524/7
📊 Retail Investor Accounts434
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size100 lots1,000 lots50 lots
💰 Minimum Withdrawal Time1 working day1 working dayInstant
📊 Maximum Estimated Withdrawal Time5 working days7 to 10 business daysUp to 5 working days
💸 Instant Deposits and Instant Withdrawals?Yes, depositsNoYes, Sticpay wallet withdrawals

XM Trading Platforms

XM Trading Platforms


XM offers its Botswana customers access to two widely recognized trading platforms: MetaTrader 4 (MT4) and MetaTrader 5. These platforms are tailored specifically to meet traders’ different objectives and trading goals, both beginners and seasoned pros.

MetaTrader 4 is well known for its dependability and user-friendly interface. Botswanans will appreciate its comprehensive charting capabilities, diverse technical indicators, and ability to automate trades using Expert Advisors.


Furthermore, Botswanan traders value MT4 for its reliability and the flexibility to tailor it to their trading techniques.

Furthermore, XM MetaTrader 4’s compatibility with several languages means that Botswana users can easily use the site in their favorite language, improving their overall trading experience.


In contrast to its older version, MetaTrader 5 offers Botswanans significantly more functionality and adaptability. It supports more periods, technical indicators, and order types.

XM’s MT5 also provides direct access to a larger variety of markets, such as equities and commodities, via the platform, allowing Botswanans to diversify their portfolios.


Furthermore, MT5’s integrated Economic Calendar and sophisticated financial trading capabilities streamline the analytical process, allowing Botswanans to make educated decisions based on the most recent market data.

Both platforms are available in PC, online, and mobile versions, guaranteeing that Botswanan traders can remain linked to the markets regardless of location.

Overall, the MT4 and 5 flexibility and XM’s dedication to delivering robust trading tools and resources position XM as a top choice for Botswanan traders who want a dependable and immersive trading experience.


Does XM provide a web-based trading platform for Botswanan Traders?

Yes, XM offers a web-based trading platform available via any web browser.


Can Botswanan traders access several trading accounts simultaneously on the XM platform?

Yes, Botswanan traders can maintain several trading accounts on the XM platform.

Range of Markets

Range of Markets


XM offers the following trading instruments and products:

  • Forex – XM provides Botswanan traders with over 55 currency pairs, enabling them to participate in the global forex market. This variety, known for its high liquidity and 24/5 operation, attracts traders seeking flexibility and high-profit potential, making it a popular choice for global currency movements.
  • Cryptocurrencies – XM offers Botswanan traders access to trading around 31 cryptocurrencies, allowing them to speculate on price movements of popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin without owning the actual assets, providing an opportunity to engage in this dynamic market segment.
  • Stock CFDs – XM offers Botswanan traders 1,337 stock CFDs, allowing them to speculate on multinational company price movements across various industries. This flexible investment approach allows traders to profit from rising and falling prices without buying the shares.
  • Commodities – XM allows Botswanan traders to trade eight commodities, including essential commodities like oil and gold, which can act as inflation hedges or market safety havens.
  • Equity Indices – Botswanan traders can use XM to access 20 equity indices, allowing them to speculate on market movements and global economic trends by focusing on broader market segments rather than individual stocks.
  • Precious Metals – XM offers Botswanan traders the chance to diversify their investment strategy by trading five precious metals, including gold and silver, traditionally considered safe-haven assets.
  • Energies – XM provides trading in eight energy commodities like oil and natural gas, enabling Botswanan traders to participate in a crucial global economy, offering the potential for significant returns due to volatile markets and geopolitical events.
  • Individual Shares and Turbo Stocks – XM offers Botswanan investors direct exposure to company performance and short-term trading opportunities, allowing them to customize portfolios based on risk tolerance and investment objectives, considering factors like company news and market trends.


Financial Instruments and Leverage 

🔨 Instrument💰 Number of Assets Offered📈 Max Leverage Offered
➡️ Forex48• Major – 1:200
• Minor – 1:200
• Exotic – 1:100
➡️ Stocks200+1:100
➡️ Precious Metals71:20
➡️ ETFs131:5


Are Botswanan traders restricted from trading particular financial products on XM?

While XM provides a wide selection of financial products, some can have trading limits imposed by regulatory agencies or market circumstances.


Does XM provide Botswanan traders access to exotic currency pairs?

Yes, Botswanan traders can use XM’s platform to trade exotic currency pairings and main and minor pairs, allowing for more diverse trading methods.

Broker Comparison for Range of Markets

🥇 XM🥈 OANDA🥉 FP Markets
➡️️ ForexYesYesYes
➡️️ Precious MetalsYesYesYes
➡️️ ETFsNoNoNo
➡️️ CFDsYesYesYes
➡️️ IndicesYesYesYes
➡️️ StocksYesYesYes
➡️️ OptionsNoYesNo
➡️️ EnergiesYesYesYes
➡️️ BondsNoYesNo

Trading and Non-Trading Fees


 Review 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



 Review 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

 Review Overnight Fees


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 with XM

 Review 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.

XM Deposits and Withdrawals

Review 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 Time1 working day1 working dayInstant
Maximum Estimated Withdrawal Time5 working days7 to 10 business daysUp to 5 working days
Instant Deposits and Instant Withdrawals?Yes, depositsNoYes, Sticpay wallet withdrawals


Deposit Currencies, Deposit and Withdrawal Processing Times

💳 Payment Method💵 Deposit Currencies💳 Deposit Processing💰 Withdrawal Processing
Credit CardUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant2 to 5 working days
Debit CardUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant2 to 5 working days
Bank Wire TransferUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant3 to 5 working days
Local Bank TransferUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR1 working day3 to 5 working days
SkrillUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR1 working day1 working day
NetellerUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant1 working day
WebMoneyUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARInstant1 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

Review How to Withdraw Funds


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

 Review How to Education And Research



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 CalendarYesYesYes
➡️ VPSYesYesYes
➡️ AutoChartistNoYesYes
➡️ Trading ViewNoYesNo
➡️ Trading CentralYesYesYes
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes


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

 Review 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 2024, 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 XM Affiliate Account 

 Review Affiliate Program

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 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 payout 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 their 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 SupportXM’s Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish, Chinese, Russian, French, Italian, Spanish, Portuguese, Polish, Arabic, and more
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportYes
📞 Local Support in Botswana?No
🥇 Overall quality of XM Support4.6/5

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.

Pros and Cons

✔️ Pros❌ Cons
According to their trading tactics, Botswanan traders are not limitedXM charges inactivity fees and currency conversion fees on BWP deposits and withdrawals
There is a vast selection of tradable instruments available to Botswanan tradersBotswanans 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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According to our research, the platform is simple to use, particularly with MetaTrader 4 and MetaTrader 5, which cater to novice and experienced traders. XM also offers a wealth of educational materials and tools, letting traders learn and make educated trading decisions.

Another advantage is that XM does not impose fees for deposits or withdrawals, making it an affordable option for traders looking to keep transaction expenses under control.

However, per our findings, there are a few downsides. For example, there are inactivity fines, and novices may find the variety of instruments and platforms daunting.

Our Insights

In our experience with this broker, XM is an ideal option for Botswanan traders looking to enter the Forex and CFD markets. One of the best things about XM is the diversity it provides. Botswanan traders have a range of trading options for diversifying their investments and exploring various market trends.

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.

9.2/10 - (4 votes)

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