XM Review
Read and experience the top XM Review in Brazil. XM is a leading online broker founded in 2009. It has become a well-established international investment firm with more than 2,500,000 clients from 196 countries. XM offers Brazilian traders more than 1,000 instruments across platforms.
- Maryke Myburgh
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
Regulators
IFSC, FCA, CySEC, ASIC, CMA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
XM is a reliable online forex broker established in 2009 in Cyprus. Their global reach has grown to over 10 million clients in 196 countries.
An important aspect of determining if a broker is trustworthy is whether it has registered licenses with regulatory bodies. XM is strictly regulated in Australia through ASIC, in Cyprus by CySEC, in Belize by FSC, and in Dubai by the DFSA.
Brazilians can be assured of implementing flexible trading strategies due to the competitive spreads, which can be as low as 0.7 pips, and the option to choose between fixed and variable spreads.
One of the most notable aspects of XM is the high leverage, which can reach up to 1:1000. This enables traders to control large positions while only requiring a relatively small amount of capital.
XM takes pride in its extensive range of over 1,000 tradable instruments, which includes forex, CFDs on stocks and commodities, stock indices, and precious metals.
Furthermore, they offer an array of user-friendly trading platforms that provide a consistent experience for novice and more experienced traders.
Naturally, no broker is perfect, and XM is no different. Some traders will find that their withdrawal process can be lengthy, and their research tools should be improved.
However, XM remains a great option, especially for Brazilian traders seeking a broker who understands and responds to their specific requirements.
How long has XM been in the industry?
XM, a group of regulated online brokers, has been in the industry since 2009.
Where is XM headquartered?
XM is a global brand with offices located all over the world. The broker’s headquarters is in Belize City, Belize.
XM Review at a Glance
| 🗓Established Year | 2009 |
| 🪪Regulation and Licenses | FSCA, IFSC, ASIC, CySEC, DFSA, FCA |
| 🌟Ease of Use Rating | 5/5 |
| 💰Bonuses | $30 no-deposit bonus, Trade and Win, Referral Program, 50% + 20% deposit bonus |
| ⏰Support Hours | 24/7 |
| 📊Trading Platforms | MetaTrader 4, MetaTrader 5, XM App |
| 📈Account Types | Micro Account, Standard Account, XM Ultra-Low Account, Shares Account |
| 💸Base Currencies | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
| 📊Spreads | From 0.6 pips (XM Ultra-Low Account, EUR/USD) |
| 📈Leverage | 1:1000 |
| 💳Currency Pairs | 55, minor, major, and exotic pairs |
| 💰Minimum Deposit | 26 BRL ($5) |
| 💸Inactivity Fee | Yes, $15 once-off after 12 months of inactivity, then $5 per month |
| 🗣Website Languages | English, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others |
| ⚖️Fees and Commissions | Spreads from 0.6 pips, commissions from $1 per Share |
| 📚Affiliate Program | Yes |
| 🏛️Banned Countries | The United States, Canada, Israel, the Islamic Republic of Iran |
| 💻Scalping | Yes |
| 🔎Hedging | Yes |
| ✴️Trading Instruments | Forex, cryptocurrencies, stock CFDs, commodities, equity indices, precious metals, energies, individual shares, Turbo Stocks |
| 👉 Open Account | Open Account |
Regulation and Safety of Funds
XM’s Regulation in Brazil
The Securities and Exchange Commission of Brazil (CVM) (Comissão de Valores Mobiliários) is the securities market authority in Brazil.
XM is not regulated by Comissão de Valores Mobiliários (CVM). However, XM’s global regulations are listed in the table below.
XM Global Regulations
| 🔎Registered Entity | 🗾Country of Registration | 📇Registration Number | ⚖️Regulatory Entity | 🔢Tier | 🪪 License Number/Ref |
| XM Global Limited | Belize | – | IFSC | 3 | 000261/158 |
| Key Way Financial (Pty) Ltd | South Africa | 2018/527968/07 | FSCA | 2 | 49976 |
| Trading Point of Financial Instruments Pty Ltd | Australia | ABN 32 164 367 | ASIC | 1 | AFSL 443670 |
| Trading Point of Financial Instruments Ltd | Cyprus | – | CySEC | 2 | 120/10 |
| Trading Point MENA Limited | Dubai | – | DFSA | 2 | F003484 |
| Trading Point of Financial Instruments UK Limited | United Kingdom | 09436004 | FCA | 1 | 705428 |
XM’s Protection of Client Funds
| 👮 Security Measure | ℹ️ Information |
| Segregated Accounts | Yes |
| Compensation Fund Member | Yes |
| Compensation Amount | €20,000 or 90% of the covered investor |
| SSL Certificate | claim, whichever is lower. |
| 2FA (Where Applicable) | Yes |
| Privacy Policy in Place | Yes |
| Risk Warning Provided | Yes |
| Negative Balance Protection | Yes |
| Guaranteed Stop-Loss Orders | Yes |
Is XM licenced and regulated?
Yes, XM is licensed or authorized by regulatory bodies in the various regions in which the broker operates. The Financial Services Commission (FSC) in Belize regulates and authorizes XM Global Ltd.
What level of financial control does XM provide for its activities in Brazil?
To maintain compliance and transparency in Brazil, XM undergoes frequent audits and oversight by credible financial agencies.
XM Trading Awards and Recognition
We’ve explored XM’s website to learn more about its services and solutions for Taiwanese traders. Included in our exploration is looking at the awards that XM has recently won, and we found the following:
XM won “Best FX Customer Service” in 2023 from the World Finance Forex Awards.
In 2023, XM was awarded by World Finance Forex Awards as the Best Forex Broker in Europe.
In 2023, XM was named the “Best FX Broker, Australasia” by the World Finance Forex Awards.
World Finance Forex awarded XM “Best FX Broker, Latin America” in 2023.
XM was recognized as the “Best FX Broker, Middle East” by the World Finance Forex Awards 2023.
In 2023, XM was named the “Most Reliable Broker” Globally by CFI.co.
XM Account Types
XM’s range of trading accounts is really impressive, and Brazilian traders will find an account type to match their trading strategies and skills. Below, we summarize what Brazilians can expect.
| 🔎Features | Micro Account | Standard Account | XM Ultra-Low Account | Shares Account |
| ➕➖Availability | All; ideal for beginners | All; ideal for casual traders | All; ideal for day traders, scalpers | All; ideal for longer-term strategies and investment |
| 💻Markets | All | All | All | Shares, Share CFDs |
| 💰Commissions | None | None | None | $1 per share |
| 🚉Platforms | All | All | All | All |
| 📊Trade Size | 0.01 – 100 lots | 0.01 – 50 lots | 0.01 – 100 lots | 1 – 50 lots |
| 📉Leverage | Account balance of $5 – $20,000 = 1:1 to 1:1000 $20,001 to $100,000 = 1:1 to 1:200 $100,001+ – 1:1 to 1:100 | Account balance of $5 – $20,000 = 1:1 to 1:1000 $20,001 to $100,000 = 1:1 to 1:200 $100,001+ – 1:1 to 1:100 | Account balance of $5 – $20,000 = 1:1 to 1:1000 $20,001 to $100,000 = 1:1 to 1:200 $100,001+ – 1:1 to 1:100 | None |
| 💵Minimum Deposit | 26 BRL ($5) | 26 BRL ($5) | 26 BRL ($5) | 52,900 BRL ($10,000) |
XM Micro Account
The XM Micro Account offers accessibility and flexibility for Brazilian traders with little capital. The minimum deposit requirement is only 26 BRL ($5).
This account is ideal for Brazilians who like to trade smaller amounts because it allows them to trade in micro-lots. This reduces their risk exposure during turbulent market conditions.
The spreads begin at just one pip with no transaction fees. Different balances require different leverage, which starts at 1:1 and goes up to 1:1000.
Because this type of account also provides hedging and negative balance protection, it’s a great choice for traders and beginners to manage risk in Brazil effectively.
XM Standard Account
The XM Standard Account provides competitive conditions and a comprehensive trading experience and would be preferred by more conventional traders. Trading is allowed in standard lots, with a minimum deposit requirement of 26 BRL with leverage of up to 1:1000.
This account has no commission fees, and spreads start from 1 pip. It can also hedge against negative balance, guaranteeing that Brazilian traders can easily handle their positions.
XM Ultra-Low Account
The Ultra-Low Account is ideal for Brazilian traders who value tight spreads and low trading fees. The account has no trading charges with spreads that start a 0.6 pips.
Leverage can be adjusted from 1:1 to 1:1000 and will decrease with increasing account balance. Day traders and scalpers who want to maximize their leverage while reducing their trading expenses will likely find this account especially appealing.
XM Shares Account
These account types are specially designed for equities market participants. The minimum deposit for this account is much larger than the other three accounts at 52,900 BRL ($10,000).
Trading in individual shares and share CFDs is subject to a $1 commission per share fee with this account. It offers no leverage, as is common with share trading. The minimum trade volume is one lot, and the underlying exchange determines the spreads.
Brazilian traders who use longer-term investment methods and would rather trade real shares than CFDs will find this account type ideal.
XM Demo Account
As with most forex brokers, XM also offers Brazilian traders the option of first practicing trading on a demo account with virtual funds that is risk-free and valid for 90 days.
Traders can experience real market conditions, sharpen their trading skills, and test their strategies without any risk involved in losing funds.
Signing up for a demo account is also easy, as you can do it on any live account type with either the MetaTrader 4 or MetaTrader 5 platforms and your preferred base currency.
XM Islamic Account
Swap or rollover interest is removed with the Islamic Account, specifically designed for Brazilian traders who follow the Sharia Law.
Traders first need to register for the live account type of their choice and then put in a request to change it to a swap-free account with certain terms and conditions that apply.
The account will have the same features as the live account chosen, with the only difference being that it is free from any interest charges, spread widening, or hidden fees. They are also able to hold positions without restrictions.
What is a forex trading account?
A forex account at XM is a trading account that you will hold, and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies. Traders have the option to choose between four live Forex account types.
Can I hold multiple trading accounts with XM?
Yes, you can. Any XM client can hold up to 10 active trading accounts and 1 Shares account.
XM Account Registration
We signed up for a trading account to test XM’s services comprehensively. We found the process straightforward and fast. Here’s a step-by-step on how Taiwanese traders can register with XM:
You can start your XM trading journey by going to the website and clicking the “Trading” option on the main toolbar. To view a comprehensive comparison of the available retail accounts, click on “Trading Account Types” from that page. If you’re trying to decide which trading account is right for you, this page will provide a rundown of all the advantages each offers.
To continue creating your account, locate the green “Open an Account” banner under the account comparison and click on it.
An account opening form will load. Please enter your full name, email address, and phone number correctly.
The next step is to choose the account’s base currency. To keep your currency conversion fees to a minimum, choose a currency that you’re comfortable with and that you’ll use for most of your trade funding. XM doesn’t support TWD as a base currency, which could subject your deposits and withdrawals to currency conversion fees.
Verifying your identification is necessary to ensure compliance with international regulatory standards and the security of your trading environment. A copy of your passport, national ID card, and other forms of identification are required to prove your identity. You’ll also need proof of your residential address in the form of a utility bill, lease agreement, credit card statement, etc.
Once complete, you can submit your application to XM. You will be notified of your approval and will receive your account login details once XM has reviewed your information and documents. Once you’ve logged in, you’ll enter the XM Members Area, the account management hub, and the trading platform.
Next, you’ll need to deposit the minimum per your account type. You can choose from several flexible payment methods.
After you’ve added funds to your account, you can start exploring the trading site.
What is the main difference between MT4 trading accounts and MT5 trading accounts?
The main difference is that MT4 does not offer trading on stock CFDs.
How do Brazilian traders manage their trading accounts?
Deposits, withdrawals, or other functions related to your trading accounts can be handled in the XM Members Area.
Broker Comparison
| 🔎Features | XM | JustMarkets | Tickmill |
| 🏛️Regulation | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | CySEC, FSCA, FSA, FSC | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA, DFSA |
| 📊Trading Platform | MetaTrader 4 MetaTrader 5 XM Mobile App | MetaTrader 4 MetaTrader 5 Just Markets App | MetaTrader 4 MetaTrader 5 Tickmill App CQG |
| 💵Withdrawal Fee | None | None | No |
| 💻Demo Account | Yes | Yes | Yes |
| 💴Min Deposit | 26 BRL ($5) | 53 BRL ($10) | 529 BRL ($100) |
| 📌 Leverage | 1:1000 | Up to 1:3000 | 1:1000 |
| ✏️Spread | 0.6 pips | From 0.0 pips | Variable, from 0.0 pips |
| 💰Commissions | $1 to $9 | $6 per lot traded | $3 per side per 100,000 traded |
| 🤙Margin Call/Stop-Out | 50%/20%, 100%/50% (EU) | 40%/20% | 100%/30% |
| 👉Order Execution | Market, Instant | Market | Market |
| ❌💵No-Deposit Bonus | Yes | Yes | Yes |
| 🛅Cent Accounts | Yes, Micro | Yes | No |
| 🗄️Account Types | Micro Account Standard Account XM Ultra-Low Account Shares Account | MT4 Standard Cent Account MT4 Standard Account MT4 Pro Account MT4 Raw Spread Account MT5 Standard Account MT5 Pro Account MT5 Raw Spread Account | Raw Account Classic Account |
| ⚖️FSC Regulation | No | No | No |
| 💵TWD Deposits | No | Yes | No |
| 🗄️TWD Account | No | Yes | No |
| 🧑💻Customer Service Hours | 24/7 | 24/7 | 24/5 |
| 🏪Retail Investor Accounts | 4 | 7 | 2 |
| ☪️Islamic Account | Yes | Yes | Yes |
| 📉Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈Maximum Trade Size | 100 lots | 100 lots | 100 lots |
| ⌚Minimum Withdrawal Time | 1 working day | 1 – 3 hours | 1 Business Day |
| ⌛Maximum Estimated Withdrawal Time | 5 working days | 6 banking days | 2 to 7 Business Days |
| ⏱️Instant Deposits and Instant Withdrawals? | Yes, deposits | Yes, deposits | Instant deposits |
XM Trading Platforms
XM offers some of the best platforms for Brazilian traders to trade with. Let’s look at what is on offer and the features of the different platforms.
XM App
The XM App is the in-house trading platform that offers a powerful and innovative tool for Brazilian traders who want to trade on the go.
This software is specifically available for iOS and Android smartphones. It gives traders mobile access to your trading account, allowing you to do all your trading transactions and stay updated on the current market news.
The app is user-friendly and easy to use and will ensure that Brazilian traders will never miss a trading opportunity.
MetaTrader 4
For traders in Brazil who want a sophisticated yet traditional platform, MetaTrader 4 is the best choice. Technical analysis is made easier with MT4’s intuitive interface and extensive charting tools, essential in the volatile forex market.
We discovered that the large collection of technical indicators and customizable charting tools are particularly helpful for spotting patterns and trends in well-known currency pairs like USD/EUR.
Trading strategies can also be automated using MT4’s Expert Advisors (EAs). This will enable Brazilian traders to take advantage of market opportunities.
MetaTrader 5
The more sophisticated MetaTrader 5 platform builds on the features of MetaTrader 4 and offers more options for seasoned traders.
Stocks, futures, and Forex are among the extended instrument coverage of MT5, which is a big benefit for Brazilian traders who deal with multiple asset classes.
A deeper comprehension of market dynamics is made possible by the platform’s wide range of market analysis tools, which include extra timeframes and technical indicators.
Furthermore, Brazilian traders can more accurately tune their strategies thanks to MT5’s enhanced back-testing features.
Copy Trading
XM’s Copy Trading platform offers an alternative and distinct strategy for Brazilian traders who are either new to forex or prefer a hands-off approach. With the help of this technology, you can mimic the moves made by experienced traders and possibly make money on autopilot.
You can peruse an extensive assortment of signal providers, sift through them according to their risk and performance profiles, and choose the ones that align with your trading goals. This social trading element fosters a sense of belonging and education among Brazilian traders.
On which devices can Brazilian Traders use the MT4 and MT5 platforms?
The MT4 and MT5 platforms can be used on PCs, Macs, MultiTerminal, WebTrader, iPhones, Android, and tablets and iPads.
How does copy trading work?
As a trader, you choose the strategies you want to follow and decide how much to invest in each. Any trades made or closed within the strategies will be replicated in your portfolio.
As a Strategy Manager, you create and share your strategies with the community. You then earn a share of any profits they make from following you.
XM range of Instruments
XM’s product portfolio spans 1,000 financial instruments and the following asset classes. We also provide Brazilian traders with the maximum leverage they can expect from each asset category.
| 🔑Broker | 🖱️Number of Assets Offered | ✏️Max Leverage Offered |
| 📈Forex | 55 | 1:1000 |
| 🗝️Precious Metals | 5 | 1:400 |
| 📍CFDs | 1,337 | 1:10 |
| 💹Indices | 20 | 1:200 |
| 📊 Individual shares | 100 | 1:10 |
| 🪙Cryptocurrency | 31 | 1:250 |
| 💡Energies | 8 | 1:67 |
| 🔍Commodities | 8 | 1:50 |
| 💴Turbo Stocks | 7 | 1:200 |
XM Leverage and Margin
A thorough examination of XM’s margin and leverage guidelines for Brazilian traders uncovers a complex, multi-layered structure.
With a variable leverage scale that adjusts to account size, XM offers balances under $20,000 a maximum leverage of 1:1000. But when trading account equity increases, leverage is progressively decreased for balances exceeding this limit, safeguarding against unwarranted risk.
Margin constraints provide yet another crucial element of XM’s approach. Brazilian traders will find the comprehensive margin calculator on the broker’s website particularly helpful, as it lets them determine the precise margin needed for different products and account kinds.
This is particularly crucial in a market where significant exchange rate fluctuations could immediately impact margin levels. We also discovered that XM retains the authority to modify margin requirements. This prudent approach highlights the broker’s focus on risk management.
What is stop-out level?
The stop-out level refers to the equity level at which your open positions get automatically closed. The stop-out level in a client’s account is reached when the equity in the trading account is equal to or falls below 20% of the required margin.
What is XM’s margin call policy?
Although each client is fully responsible for monitoring their trading account activity, XM follows a margin call policy to guarantee that your maximum possible risk does not exceed your account equity.
XM Spreads and Fees
XM is transparent as far as its fee schedule is concerned. Let’s have a look at what the fee structure entails.
XM Spreads
Our research showed that spreads differ according to account type, and for example, on the XM Ultra-Low Account, Brazilians can expect spreads from 0.6 pips on major Forex pairs.
The spread schedule XM offers is very tight, a huge advantage for Brazilian traders involved in high-frequency trading.
Minimizing transaction costs is crucial in high-frequency trading, and these tight spreads help achieve that goal.
XM Commissions
XM’s commission structure is also easy to understand and transparent. The Micro, Standard, and Ultra-Low account types do not charge any commission as it is incorporated in the spread.
The XM Shares account is the exception to the rule as it is specifically tailored for share investors. Commission charges on this account are $1 per round lot share.
XM Overnight Fees
Overnight swap or rollover fees are charged when the short or long position is held overnight. This usually varies depending on the specific instrument and the direction of the trade.
Brazilian traders should always remember this, as some positions held overnight can result in losses.
On the other hand, Brazilian traders who have registered for Islamic Swap-free accounts will not pay overnight fees as the Sharia law forbids this.
XM Deposit and Withdrawal Fees
A definite advantage to Brazilian traders is the zero-fee policy. We determined that XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Moneybookers, and all major credit cards, which include VISA, VISA Electron, MasterCard, Maestro, and China UnionPay.
Additionally, all deposits and withdrawals above 200 USD processed by wire transfer are also included in XM’s zero fees policy.
XM Inactivity Fees
Brazilian traders should be aware that XM imposes an inactivity fee when an account is inactive for longer than 90 days. After ninety days, there will be a $15 one-time maintenance fee and a $5 monthly fee if there is still no activity.
XM Currency Conversion Fees
Currency conversion fees are one aspect Brazilian traders must consider seriously since XM does not accept deposits or withdrawals in Brazilian Real (BRL). Although XM does not have explicit conversion fees, implicit costs might be associated with converting funds when depositing or withdrawing in BRL.
Which payment methods can be used to make deposits and withdrawals with XM?
XM supports various payment methods, including credit and debit cards, bank transfers, e-wallets, etc.
What is MyWallet?
MyWallet is where you can securely store all the funds you’ve earned from various XM programs. It provides an easy way to manage your funds, including transfers and transaction history.
XM Deposit & Withdrawal Options
| 💰Payment Method | 🌎Country | 💱Currencies Accepted | ⏰Processing Time |
| Credit Card | All | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant – 5 days |
| Debit Card | All | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant – 5 days |
| Bank Wire Transfer | All | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | 1 – 5 days |
| Local Bank Transfer | All | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | 1 – 5 days |
| Skrill | All | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant – 1 day |
| Neteller | All | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant – 1 day |
| WebMoney | All | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant – 1 day |
XM Deposits
How to Deposit using Bank Wire Step by Step
Log in to your XM Member’s Area.
Select “Deposit” from the menu.
Choose “Bank Wire Transfer.”
Supply your bank details and the deposit amount.
XM will provide bank details, which you can use to deposit funds from your bank.
Log into your banking portal, enter the details, and confirm the transaction.
Keep the receipt or transaction reference number.
The funds could take 1 to 5 days to reflect in your XM trading account.
How to Deposit using Credit or Debit Card Step by Step
Log into your XM Member’s Area.
Select “Deposit” from the menu.
Choose “Credit or Debit Card.”
Enter your card details and the deposit amount.
Confirm the payment.
The funds should be reflected in your account instantly or within a few hours.
How to Deposit using Cryptocurrency Step by Step
Log into your XM Member’s Area.
Click on “Deposit.”
Choose the cryptocurrency you wish to use for the deposit.
Enter the deposit amount in the designated cryptocurrency.
You will receive a unique wallet address for XM, to which you can transfer your crypto funds.
Complete the transfer from your crypto wallet to your provided XM wallet address.
Once confirmed on the blockchain network.
The deposit will be processed and converted to your account currency.
How to Deposit using e-Wallets or Payment Gateways Step by Step
Log into your XM Member’s Area.
Click on “Deposit.”
Choose your preferred e-wallet from the deposit options.
Enter the deposit amount and complete the e-wallet information.
You will be redirected to your e-Wallet’s website to log in and confirm the payment.
The deposit is usually processed instantly.
XM Withdrawals
How to Withdraw using Bank Wire Step by Step
Enter your XM Member’s Area.
Click on “Withdrawal.”
Select “Bank Wire Transfer.”
Complete the withdrawal amount and your bank details.
Review and confirm the withdrawal.
The funds will be reflected in your bank account within 1 to 5 days.
How to Withdraw using Credit or Debit Cards Step by Step
Enter your XM Member’s Area.
Click on “Withdrawal.”
Select “Credit or Debit Card.”
Enter the withdrawal amount and your card details.
Confirm the withdrawal.
Your card should reflect the funds within 3 to 5 business days.
How to Withdraw using Cryptocurrency Step by Step
Enter your XM Member’s Area.
Click on “Withdrawal.”
Select the cryptocurrency option for withdrawal.
Enter the withdrawal amount and provide your personal crypto wallet address.
Confirm the withdrawal details.
XM will send the cryptocurrency to your provided wallet address, usually within 24 hours.
How to Withdraw using e-Wallets or Payment Gateways Step by Step
Enter your XM Member’s Area.
Click on “Withdrawal.”
Select the e-wallet you used to deposit as your withdrawal method.
Enter the withdrawal amount and e-wallet information.
Confirm the withdrawal.
The funds should appear in your e-wallet within 24 hours.
Can I withdraw funds directly from MyWallet?
No, you can’t withdraw funds directly from MyWallet. You must transfer your funds to one of your XM trading accounts and then make a withdrawal request as normal.
Can I transfer funds from my account to another client’s trading account?
No, you can’t transfer funds from your trading account to another client’s. You can only transfer funds between accounts that belong to you.
XM Educational Resources
| Type of Education | Information |
| 📅Economic Calendar | Yes |
| ✴️VPS | Yes |
| 🕹️AutoChartist | No |
| 📈Trading View | No |
| 📊Trading Central | Yes |
| 📉Market Analysis | Yes |
| 🗞️News Feed | Yes |
| 💻Blog | Yes |
| 📚eBooks | No |
| 📼Educational Videos | Yes |
| 🛫Platform Tutorials | Yes |
| 👨💻Webinars | Yes |
| 💼Seminars | Yes |
| 👩🏾💻Live Support | Yes |
| 👉 Open Account | Open Account |
In addition to the above-mentioned tools and resources, XM also offers Brazilians the following:
XM TV
XM “Discover”
XM Podcasts
XM Research
XM Live
Live Education
Live Education Schedule
Markets Overview
Trade Ideas
Offline Trading Courses
Technical Summaries
Does XM offer a video tutorial on how to master the MetaTrader 4 platform?
Yes, XM offers many short and simple MT4 video tutorials to teach Brazilian traders how to use the MT4 platform.
What kind of education and analysis tools does XM provide to its traders?
XM provides various educational resources and market analysis tools to help traders make informed decisions and manage their risks effectively. This includes webinars, seminars, trading guides, market news, and economic calendars.
XM Bonuses and Promotions
We were extremely excited when we went over XM’s bonuses and promotions and saw a no-deposit bonus of 30 USD, along with a few others, allowing traders to boost their trading capital and gain more exposure to several markets.
$120,000 Real and Demo Contest
After researching its promotional offerings, we discovered XM’s bonus system to be very intriguing; it seems to target a diverse group of traders.
We noticed an offer with a prize pool of $120,000 that caught our eye. Competitors range from novices to seasoned pros, making for an exciting environment.
By trading with their real accounts, traders can take part in this contest and have a chance to win prizes.
The large reward pool, which will be distributed among the best traders, is the main draw of this competition. Participants are allowed to learn while being encouraged to compete in this setting.
The contest will usually run for a few months, with winners being revealed at regular intervals.
As a result, traders are kept interested and have more opportunities to win. Incentives and skill-building work together in a balanced way, encouraging traders to focus on strategy improvement while shooting for substantial financial profits.
$30 No-Deposit Bonus
A great way for new traders in Taiwan to get into forex trading without risking any of their own money is using XM’s $30 No-Deposit Bonus.
Traders can familiarize themselves with the trading process on XM’s platform with the trading credit they receive as a bonus.
You can grow your trading balance without risking any of your own funds by withdrawing any gains generated by this bonus.
Because of the special requirements that Taiwanese traders must fulfill before they may take any earnings, we advise that they read the bonus terms and conditions thoroughly.
100% Deposit Bonus up to $500 plus 20% bonus up to $10,000
Many are drawn to XM’s deposit bonus structure, which is in addition to the no-deposit incentive. The initial trading capital of Taiwanese traders can be practically doubled thanks to a 100% bonus on deposits up to $500.
A further 20% bonus is available on subsequent deposits, up to a maximum of $4,500. Users can take up larger positions or experiment with alternative trading tactics thanks to this bonus scheme, which greatly increases their trading capacity.
However, we urge traders to remember that these extra funds are not cash and are only meant to bolster their trading activity.
$150 Refer a Friend bonus
Taiwanese traders have an attractive opportunity to earn extra money by recommending people to join the platform.
XM offers a $150 Refer a Friend bonus, and the process is as follows:
You can acquire a unique referral link to share with your contacts if you are currently a customer of XM.
A $150 bonus will be deposited into your trading account when a new customer registers through your link and meets certain deposit and transaction completion requirements.
Furthermore, if your friend signs up for XM using your referral link, they will receive a $30 trading credit to help them on their trading journey.
We must mention that the Refer a Friend bonus is subject to certain requirements, so read the fine print. For example, your referral may need to reach a specific trading volume to unlock the bonus for both of you.
To get the most out of this chance, we urge Taiwanese traders to thoroughly read the program specifics on the XM website to understand what is required.
Overall, for traders from Taiwan, the XM Refer a Friend incentive is a fantastic way to boost their trading money while also exposing their loved ones to the exciting world of CFD and forex.
XM Loyalty Program
Regular customers, including those in Taiwan, can earn rewards through XM’s Loyalty Programme. The more a trader trades, the more points they receive, which can be turned into bonuses or more trading credits.
For traders looking for an incentive to stick with XM and maybe even ramp up their trade volume over time, the program is structured to offer greater benefits as trading activity increases.
Does XM provide a refer-a-friend bonus?
Yes. XM provides a $150 refer-a-friend bonus for each friend you refer. Some terms and conditions do apply.
Does XM offer bonuses or promotions to loyal clients?
Yes, for a few times a year XM will offer special seasonal bonuses marking certain calendar events and occasions that will be available for a limited period.
XM Affiliate Programs
Our research on XM’s offering indicated that it provides an affiliate program that holds benefits for traders who participate in it. Let’s learn more about how Brazilian traders can join as partners to benefit and earn extra income.
Features
XM’s affiliate program is an invaluable tool for Brazilian traders and marketers looking to maximize their profits in the foreign exchange market.
It offers a user-friendly partner site where affiliates can register for the program and monitor their earnings. Account management is fairly simple, facilitating fast and easy money transfers between IB and customer accounts.
XM is also committed to supporting its affiliates and providing monetary awards. Support is provided in multilingual languages, including Portuguese, which Brazilian partners will particularly benefit from.
The potential of XM’s affiliate network to yield large earnings is one of the most notable attributes of the program. There is no cap on the commissions affiliates can collect, and they can make a hefty $25 for each lot their referrals exchange.
In addition, revenues are increased by a 10% fee on second-tier referrals, creating a profitable multi-level structure.
XM is committed to establishing a trading environment advantageous to its clients and affiliates.
Brazilian clients can trade confidently because there are no requotes, rejections, or negative balance protections. This encourages client loyalty in addition to improving the affiliate’s reputation.
How to Register an Affiliate Account with XM Step-by-Step
Navigate to the XM website and look for the “Partnerships” option on the top right-hand side of the homepage.
Click on this option.
Familiarize yourself with what the affiliate program entails. Examine the descriptions of the affiliate program’s perks, such as earning up to $25 per lot, zero commission caps, and a 10% commission on second-tier referrals.
Also, ensure you understand the services available, such as multilingual support, personal account managers, and prompt payments from XM.
When you are ready to sign up, click the “Register a Partner Account” banner.
On online registration form will appear that you need to complete by filling in the required personal information. You also have to create a secure, unique password.
You must also provide additional information, such as your website URL, social media platforms, and any specifics about your marketing approach.
Read through the terms and conditions of the affiliate program and tick the appropriate box if you agree to the terms and conditions.
Click the “Submit” button to finish the registration procedure.
Check your email for a verification message from XM, and click the verification link in the email to validate your email address.
Now, you can log in to your affiliate account using your registered email address and password.
Familiarize yourself with the affiliate dashboard and accessible tools before you begin managing your affiliate operations.
Does XM have an affiliate program?
Yes, and to become an XM Affiliate, you only need to register for an account on the Partners website. There are no other criteria or qualifications you need to meet.
How frequently does XM send out affiliate commissions in Brazil?
XM normally handles affiliate commission payments weekly, but the timetable can change. Therefore, affiliates in Brazil should check with XM.
XM Customer Support
| 🖳Customer Support | XM Customer Support |
| 🕰️Operating Hours | 24/7 |
| 🎗️Support Languages | English, Chinese, Russian, French, Italian, Spanish, Portuguese, Polish, Arabic, and more |
| 💬Live Chat | Yes |
| 📧Email Address | Yes |
| ☎️Telephonic Support | Yes |
| 📱The overall quality of XM Support | 5/5 |
| 🖳Support Channel | Average Response Time | User-based Response Time |
| ☎️Phone | – | – |
| 1 working day | Same-day | |
| 💬Live Chat | 5 minutes | 2 minutes |
| 📱Social Media | 1 working day | 10 minutes |
| 🧑🤝🧑Affiliate | 1 working day | Same-day |
Is XM customer service available around the clock for Brazilian traders?
XM usually provides 24/7 customer support to meet the needs of Brazilian traders who trade after market hours while aligning with global trading hours during the week.
Can traders follow XM on any social media?
Yes, XM’s customers can follow the broker on Facebook, Twitter, YouTube, Instagram, LinkedIn, Telegram and TikTok.
XM Social Responsibility
We were thrilled to discover that XM’s dedication to Corporate Social Responsibility (CSR) is reflected in its several initiatives.
According to their website, their mission is to make a positive difference in the lives of individuals, irrespective of their culture, religion, or ethnic background, and help them achieve their potential.
For more information on the broker CSR, navigate to the website, click on the banner “About Us,” and click “Corporate Social Responsibility.” Let’s look at some of the initiatives the broker was recently involved in.
XM collaborated with the Red Cross in Singapore to organize a sports outing for migrant domestic workers in Singapore. This demonstrates the brokers to support the mental health and well-being of migrant workers.
In Indonesia, XM collaborated with the Peduli Anak Foundation to uplift underprivileged children, providing essential care, education, and support.
In Pakistan, XM partners with the Rizq charity and donates ration packages to people in need in rural areas during Ramadan.
XM donated books to primary and secondary schools in Ky Son district in Nghe An province to support the Bookcases for Kids’ Project in Vietnam. The aim is to encourage children to read more, explore and dream.
XM launched a Ramadan Iftar initiative to support and relieve families facing hardships in Casablanca, Morocco. This was in partnership with the Bab Rayan Association.
User Comments
XM has more than 10 million clients and we had no issue finding the latest user comments on this multi-regulated global broker. Here’s what we found:
“I started an Ultra Low account with XM, and the spreads are very low—around 0.8 pips on EUR/USD when the market is volatile. Trades are executed quickly, and I haven’t had any big problems. The best thing about them is that you can enter and withdraw money from a local bank, which makes transactions easy. I would definitely tell other traders who are looking for a trusted broker about XM.”
“It’s very easy to use and get around on the XM trading site. I really like the charting tools and the large number of technical indicators that are offered. It helps me understand the markets and choose when to trade based on that knowledge.”
“I didn’t know much about XM’s Turbo stocks, so I called their support team. They helped me understand in a very clear way. It’s good to know that they seem to know what they’re talking about.”
10 Best Forex Brokers in Brazil
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Conclusion
In conclusion, we can honestly say that XM is a strong choice for Brazilian traders of CFDs and forex.
Diversified portfolios and strategic trading are made possible by the platform’s wide range of over 55 currency pairings and countless trading options in equities, commodities, and indexes.
Brazilians will be drawn to XM due to its low minimum deposit requirements, tight spreads, and free commissions on most accounts. Choosing the MetaTrader 4 and MetaTrader 5 platforms also guarantees Brazilian traders access to strong, intuitive analysis and execution capabilities.
However, we did pick up some drawbacks as far as XM is concerned. Firstly, even though XM’s spreads are competitive, they tend to widen during intense volatility spikes, resulting in overnight fees accumulating.
We also discovered that Brazilians may experience higher conversion costs due to BRL’s unavailability as a base currency.
Although the education material is extensive, XM may enhance the education of traders in the nation by providing more in-depth analyses of the Brazilian market.
Still, XM remains a good choice for novice and experienced traders in Brazil, as long as the broker matches their trading style, overall goals, and risk appetite regarding Forex and CFD trading.
Our Insight
- In my extensive analysis and industry expertise, XM Broker emerges as a Trustworthy, dependable and well-regulated brokerage, offering a variation of trading instruments, unique platforms, educational resources, and competitive trading conditions.
Our Recommendations
XM could launch a market campaign in Brazil, hosting seminars or online forums to promote their offering and, in doing so, attract local traders.
Allow Brazilians to use BRL as a base currency and include local bank transfers in their payment methods.
Create a section on the XM website for Brazilian traders that includes localized material,
news, and updates about the Brazilian market.
XM Pros and Cons
| ✅Pros | ❌Cons |
| XM is well-regulated through various regulatory bodies | Does not support the Brazil Real (BRL) or any local payment methods through local banks |
| Offers competitive trading and a transparent fee structure | Does not accept traders from the US |
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Frequently Asked Questions
Are the XM trading platforms available in Brazil?
XM’s trading platforms, including MT4 and MT5, allow several languages, and while the interface might be available in Portuguese, full compatibility is contingent on the most recent updates.
Is XM regulated in Brazil?
No, it has no local regulation, but several respected international financial institutions oversee the broker.
Is Copy Trading good for new traders?
Yes, the copy trading platform XM offers is user-friendly and intuitive, but it also allows new traders to follow those more experienced. This allows you to participate in the markets while continuing your trading education and developing your own strategies.
Does XM provide personal account managers for Brazilian traders?
Yes, XM offers personal account managers who could assist them in Portuguese.
Which instruments can I trade on MT5?
You can trade any instruments we offer on the MT5 platform, including Crypto CFDs, Stock CFDs, Stocks, Stock Indices CFDs, Forex, Precious Metals CFDs, Energies CFDs, and Commodities CFDs.
