Many newcomers to the foreign exchange market report difficulties in finding a reliable platform, often encountering issues with profitable withdrawals being blocked or losing money to fraudulent platforms, making their journey in foreign exchange investment a rocky one. FxGecko's top 100 forex platforms can serve as a reference for selection; however, if a platform is not within this ranking, special attention should be paid to its primary and white label relationships and risk warnings.
Today, an investor inquired about the XM.com platform, wondering whether XM.com's regulatory oversight ensures safety and if funds are adequately protected.
According to FxGecko's inquiry, XM.com, established in 2008 and ranked 71st globally with a safety score of 760, claims to hold regulatory licenses from four countries, with 183 risk alerts identified through a scan.
The regulatory status of XM.com can be summarized as follows:
1. XM.com is operated by Trading Point of Financial Instruments Limited, a subsidiary of Trading Point Group, which holds a license (No. 120/10) from the Cyprus Securities and Exchange Commission (CySEC), thus being regulated within the EU.
2. Another company under the XM Group, XM Global Limited, holds a license (No. 000261/309) from the Belize International Financial Services Commission (FSC), ensuring regulation in Belize.
3. Moreover, XM Group holds licenses from relevant regulatory bodies in countries and regions including the UK, Australia, and the United States, indicating it operates under multiple regulatory frameworks.
4. As a veteran forex broker with over a decade of history, XM Group's operations are relatively standardized and transparent, with a high level of security.
5. Nevertheless, some traders have raised questions and expressed dissatisfaction regarding XM.com's deposit and withdrawal processes, as well as its spreads.
In light of this information, we can conclude that XM.com is regulated by multiple oversight bodies, creating an overall secure and dependable regulatory environment. Nonetheless, before choosing this platform, investors should closely examine its actual operations and service quality.
FxGecko's Comprehensive Review: XM.com's official website is currently operational. It receives a considerable amount of negative feedback, with overall mixed reviews. While it offers a wide variety of trading instruments, complaint handling tends to be slow.
The financial market is a mix of good and bad, with inherent investment risks. To mitigate these risks, thorough investigation of platforms before investing is crucial. For protection against scams, start with FxGecko.
