XM is one of the top forex brokers in the world. It is a global broker that has clients in over 190 countries. XM is regulated by the CySEC, ASIC, and SEC, but does not have a local presence in South Africa. Despite this, traders from SA can benefit from the company’s highly competitive trading fees and promotions. It also offers a user-friendly website and a range of mobile apps. The company offers a wide array of platforms and good customer support.
XM South Africa provides several trading options, including commission-free account types. The company has a commitment to integrity and transparency in all its processes. Its spreads are competitive and it offers negative balance protection. In addition, the company offers enticing bonuses. If you want to get started with forex trading, this is the perfect place to do so.
Withdrawing funds from XM is easy and hassle-free. The company processes withdrawal requests quickly and efficiently, taking only one to three business days to process. In addition to that, XM supports a wide range of banking methods, including EFT and bank wire transfers. Bank wire transfers, however, can take up to five business days. Otherwise, all other methods of withdrawal take less time.
XM South Africa has a minimum deposit of five dollars, but other payment methods are also accepted. Deposits can be made via Visa and Mastercard, or through bank wire transfers. The company also accepts payment through various electronic payment systems, including Skrill, Neteller, and Trust. Although Trust is popular among European clients, it’s less relevant for forex traders in South Africa.
XM offers leverage between 1:1 and 500:1. The company also advertises tight spreads. But keep in mind that you can’t use more leverage than you deposit. There are also some fees for non-trading activity, such as withdrawal and inactivity. These fees vary depending on the type of account you have and the entity under which XM operates.
XM has a large client base and is a global broker. The broker is regulated by CySEC and has staff who speak over 30 languages. It also has a branch in Cyprus, which serves clients from around the world. It is also authorized in Dubai and the MENA region.
XM offers a range of account currencies and offers low minimum deposits for its South African clients. It also offers multiple account types and competitive fees. Traders in South Africa can open a demo account for free to test the waters before opening a live account. XM also offers a range of instruments and trading platforms, including the Islamic Swap-Free Account.
XM also offers a no-deposit bonus for newly registered clients. This bonus, however, is available only to newly registered clients and is equal to 30 $.