Top 8 Locally Based Brokers
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 CMA of Kenya
- Louis Schoeman
Jump to:
Regulation and Safety of Funds
Account Types and Features
Account Registration
Range of Markets
Fees
Deposits and Withdrawals
Education and Research
Affiliate Program
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.5/5
Min Deposit
USD 5 / 584 KES
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Crypto
No
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
XM Review – 16 key points quick overview:
- ✅ Regulation and Safety of Funds
- ✅ Account Types and Features
- ✅ Account Registration
- XM Vs HotForex Vs Markets.com – Broker Comparison
- Trading Platforms
- Range of Markets
- Broker Comparison for Range of Markets
- Trading and Non-Trading Fees
- Deposits and Withdrawals
- XM Education and Research
- Bonuses and Promotions
- XM Affiliate Program
- Verdict on XM
- XM Current Popularity Trends
- XM Pros and Cons
- Frequently Asked Questions
XM Overview
👉 According to our research, XM is an average-risk broker that has a high trust score of 84% and an overall rating of 9/10 as a CFD and Forex broker for Kenyan traders. Security, customer service, account financing, and minimal fees are some of the most important features that consumers look for in an online trading platform, and XM provides them in abundance.
👉 XM is a good option to start a trading profession or advance in an existing one because of this winning mix. Established in 2009 and in operation for more than 12 years, XM has more than 196 countries where it operates, a service team that speaks 30 languages, and the broker is one of the most trusted and well-regulated brokers.
👉 Even though the broker’s main branch is based in Belize and licensed by the IFSC, the broker has offices across the world that can serve clients‘ requirements, with relevant regulation and authority in these regions.
👉 This XM review will provide traders with the details that they need to consider whether the broker is suited to their unique trading objectives and needs.
Distribution of Traders
👉 The distribution of traders with XM is as follows:
➡️️ Thailand – 33.7%
➡️️ South Africa 12.1%
➡️️ Colombia – 9%
➡️️ Egypt – 8.7%
➡️️ Philippines – 2.9%
Popularity among traders who choose XM
🥇 While XM does not dominate the forex and CFD market in Kenya, the broker is still one of the most versatile options for Kenyan traders, ensuring that it is a part of the Top 50 brokers in the region for retail traders.
XM At a Glance
| 🏛 Headquartered | Belize |
| 🏙 Kenyan Based Office | No |
| ✅ Accepts Kenyan Traders? | Yes |
| 🗓 Year Founded | 2009 |
| 📞 Kenyan Office Contact Number | None |
| 🤳 Social Media Platforms | • Facebook • YouTube |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA |
| 🪪 License Number | • Belize – 000261/158 • South Africa – 49976 • Australia – ABN 32 164 367 113, AFSL 443670 • Cyprus – 120/10 • Dubai – F003484 |
| ⚖️ CMA Regulation | None |
| 🚫 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 | Unknown |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Instant, Market |
| 📊 Average spread | From 0.0 pips |
| 📞 Margin Call | 50% to 100% (EU) |
| 🛑 Stop-Out | 20% to 50% (EU) |
| ✅ Crypto trading offered? | Yes |
| 💰 Offers a Kenyan shilling Account? | No |
| 👨💻 Dedicated Kenyan Account Manager? | No |
| 📊 Maximum Leverage | 1:888 |
| 🚫 Leverage Restrictions for Kenya? | No |
| 💰 Minimum Deposit (KES) | 570 Kenyan shilling (equivalent to $5) |
| ✅ Kenyan shilling Deposits Allowed? | Yes |
| 📊 Active Kenyan Trader Stats | 70,000+ |
| 👥 Active Kenyan-based XM customers | Unknown |
| 💳 Kenya Daily Forex Turnover | $100 million+ |
| 💵 Deposit and Withdrawal Options | • Credit Card • Debit Card • Bank Wire Transfer • Local Bank Transfer • Skrill • Neteller • WebMoney |
| 🏦 Segregated Accounts with Kenyan Banks? | No |
| 📊 Trading Platforms | • MetaTrader 4 • MetaTrader 5 • XM Mobile App |
| ✔️ Tradable Assets | • Forex • Cryptocurrencies • Stock CFDs • Commodities • Equity Indices • Precious Metals • Energies • Shares |
| 💸 Offers USD/KES currency pair? | No |
| 📈 USD/KES Average Spread | N/A |
| 📉 Offers Kenyan Stocks and CFDs | None |
| 🗣 Languages supported on Website | English, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/5 |
| 👥 Customer Support Languages | No |
| ✅ Bonuses and Promotions for Kenyans | Yes |
| 📚 Education for Kenyan beginners | Yes |
| 📱 Proprietary trading software | No |
| 💰 Most Successful Kenyan Trader | Patrick Mahinge (Net Worth – Private) |
| ✅ Is XM a safe broker for Kenyans? | Yes |
| 📊 Rating for XM Forex Kenya | 9/10 |
| 🤝 Trust score for XM Forex Kenya | 84% |
| 👉 Open an account | 👉 Open Account |
Regulation and Safety of Funds
XM is a well-regulated entity that is based in Belize, operating through these entities worldwide:
➡️ Belize – XM Global Limited (license number 000261/158) is well-regulated and overseen by the International Financial Services Commission (IFSC).
➡️ In South Africa Key Way Financial (Pty) Ltd is a reputable Financial Service Provider (FSP) that is overseen by the Financial Sector Conduct Authority (FSCA) under FSP number 49976.
➡️ Australia – XM operates through Trading Point of Financial Instruments Pty Ltd under ABN 32 164 367 113, with regulation and authorization provided through the Australian Securities and Investment Commission (ASIC) under AFSL 443670.
➡️ In Cyprus, XM is regulated by the Cyprus Securities and Exchange Commission (CySEC) through Trading Point of Financial Instruments Ltd in Limassol under license number 120/10.
➡️ Dubai – XM operates through Trading Point MENA Limited as a DIFC company, regulated by the Dubai Financial Services Authority (DFSA) under reference number F003484.
Regulated firms have been used to process withdrawals and deposits for XM Group to protect the safety of its consumers. Liquidity providers and XM cannot access consumer funds since they are stored in different tier 1 banks from business funds. Customer accounts are also protected by negative balance protection.
A member of the Investor Compensation Fund, XM complies with all the criteria laid forth in the Markets in Financial Instruments Directive to safeguard investors (MiFID).
XM Group aims to give its clients the best possible trading circumstances. To ensure that they always provide some of the lowest spreads and the most liquidity, they cooperate with a broad range of liquidity providers.
Account Types and Features
Individual Kenyan traders can choose from four distinct types of retail investor accounts, each tailored to their own trading goals. XM offers a variety of live account options, including:
➡️ Micro Account
➡️ Standard Account
➡️ XM Ultra-Low Account
➡️ Shares Account
Live Trading Accounts
Micro Account
Micro accounts are ideal for new traders who are transitioning from a risk-free trial account into the real world of trading. For more experienced traders looking to put their trading theories to the test, this account type is excellent.
| 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 |
| 📊 Average spread on all forex major pairs | 1 pip EUR/USD |
| 💸 Commission charges | None |
| 💰 Maximum open or pending orders per trader | 300 |
| 📈 Minimum trade volume MetaTrader 4 | 0.1 lot |
| 📉 Minimum trade volume MetaTrader 5 | 0.1 lot |
| ✔️ Hedging allowed? | Yes |
| 📈 Lot Restrictions per trade | 100 lots |
| ☪️ Islamic Account offered? | Yes |
| 📉 Minimum Deposit Requirement | 570 Kenyan shilling or an equivalent to $5 |
Standard Account
This is the typical account that is chosen by most retail traders, offering typical spreads and 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 |
| 📊 Average spread on all forex major pairs | 1 pip EUR/USD |
| 💸 Commission charges | None |
| 💰 Maximum open or pending orders per trader | 300 |
| 📈 Minimum trade volume MetaTrader 4 | 0.1 lot |
| 📉 Minimum trade volume MetaTrader 5 | 0.1 lot |
| ✔️ Hedging allowed? | Yes |
| 📈 Lot Restrictions per trade | 50 lots |
| ☪️ Islamic Account offered? | Yes |
| 📉 Minimum Deposit Requirement | 570 Kenyan shilling or an equivalent to $5 |
XM Ultra-Low Account
This account type is known for its ultra-low trading fees, providing scalpers and other day traders with the best trading conditions in a fast-paced financial market environment.
| 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 |
| 📊 Average spread on all forex major pairs | 0.6 pips EUR/USD |
| 💸 Commission charges | None |
| 💰 Maximum open or pending orders per trader | 300 |
| 📈 Minimum trade volume MetaTrader 4 | • Standard Ultra – 0.01 lots • Micro Ultra – 0.1 lots |
| 📉 Minimum trade volume MetaTrader 5 | 0.1 lot |
| ✔️ Hedging allowed? | Yes |
| 📈 Lot Restrictions per trade | • Standard Ultra – 50 lots • Micro Ultra – 100 lots |
| ☪️ Islamic Account offered? | Yes |
| 📉 Minimum Deposit Requirement | 570 Kenyan shilling or an equivalent to $5 |
Shares Account
The Shares Account offers Kenyan traders access to a wide range of shares that can be traded. This account has competitive commissions and the benefit of negative balance protection.
| Account Feature | Value |
| 📈 Base Currency Options | USD |
| 📊 Position Size | 1 Share |
| 📈 Maximum Leverage Ratio | None |
| 📉 Negative Balance Protection Applied? | Yes, to all retail accounts |
| 📊 Average spread on all forex major pairs | According to the exchange |
| 💸 Commission charges | Between $1 to $9 |
| 💰 Maximum open or pending orders per trader | 50 |
| 📈 Minimum trade volume MetaTrader 4 | 1 lot |
| 📉 Minimum trade volume MetaTrader 5 | No |
| ✔️ Hedging allowed? | Yes |
| 📈 Lot Restrictions per trade | It will depend on each share |
| ☪️ Islamic Account offered? | Yes |
| 📉 Minimum Deposit Requirement | 1,100,000 Kenyan shilling or an equivalent to $10,000 |
Demo Account
A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital.
There is a certain degree of risk involved when trading financial markets and XM offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.
Islamic Account
Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.
This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.
All live trading accounts provided by XM can be converted to an Islamic Account or Swap-free accounts that do not charge interest to traders who keep positions open overnight.
Account Registration
Opening an XM trading account takes just a few minutes. When Kenyans start the account opening procedure, they can expect the account to be approved within the next working day. Kenyan traders need to complete a digital application in which they must provide personal information, employment details, source of funds, trading experience, and other categories.
In addition, once the form is complete, Kenyan traders must complete the KYC process where they must submit proof of identity and residency. Once the information and documents have been compared and verified, the account will be approved, and traders can deposit funds to start trading.
XM Vs HotForex Vs Markets.com – Broker Comparison
| XM | HotForex | Markets.com | |
| ⚖️ Regulation | FSCA, IFSC, ASIC, CySEC, DFSA | FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regions | ASIC, CySEC, FSCA, FCA, BVI FSC |
| 📱 Trading Platform | • MetaTrader 4 • MetaTrader 5 • XM Mobile App | • MetaTrader 4 • MetaTrader 5 | • MarketsX • Marketsi • MetaTrader 4 • MetaTrader 5 • MarketsX App |
| 💰 Withdrawal Fee | None | No | None |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 570 KES | 570 KES | 11,400 KES |
| 📈 Leverage | 1:888 | 1:1000 | 1:300 |
| 📊 Spread | 0.0 pips | 0.0 pips | From 0.8 pips |
| 💰 Commissions | $1 to $9 | $3 to $4 | From 15 USD |
| ✴️ Margin Call/Stop-Out | • 50%/20%, • 100%/50% (EU) | • 40%/10% • 50%/20% | 50% |
| ✴️ Order Execution | Instant, Market | Market | Market, Instant |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | No | No |
| 📈 Account Types | • Micro Account • Standard Account • XM Ultra-Low Account • Shares Account | • Micro Account • Premium Account • HFcopy Account • Zero Spread Account • Auto Account | • MarketsX Account • Marketsi Account |
| ⚖️ CMA Regulation | No | Yes | No |
| 💳 KES Deposits | Yes | Yes | No |
| 📊 Kenyan shilling Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 4 | 5 | 2 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 💵 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 100 lots | 60 lots | 100 lots |
Trading Platforms
👉 XM offers Kenyan traders a choice between these trading platforms:
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ XM Mobile App
Desktop Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
👉 With XM’s MultiTerminal platform, Kenyan traders can manage numerous accounts from a single screen. With the MT4 platform, Kenyan traders can expect a familiar trading experience, but with much more power and capacity.
👉 The MetaTrader 5 platform has been tailored to fit the needs of XM customers regardless of their preferred trading style or asset class, and this resulted in the XM MT5.
👉 This robust but user-friendly platform provides more features, smarter trading tools, greater support, and total control over the trader’s operations. One of the most creative and frequently utilized trading platforms in the world, MetaTrader 5, is used by Kenyan traders.
WebTrader Platforms
➡️ MetaTrader 4
➡️ MetaTrader 5
👉 Trading with XM can be done from any web browser using the MetaTrader 4 WebTerminal, which does not need any additional software to be downloaded. Kenyan traders can place pending and market orders on both Live and Demo accounts, as well as see their full trading history.
👉 The XM MetaTrader 5 WebTerminal trading requires no further software to be installed. The WebTerminal, which can be started from any computer and browser, has all the functionality of the desktop platform.
Trading App
➡️ MetaTrader 4
➡️ MetaTrader 5
➡️ XM Mobile App
👉 The XM Android and iOS MT4 combine excellent charting with a wide range of sophisticated trading tools and several other advanced features to make it easier for traders to trade on the move.
👉 XM’s full-function trading interface allows Kenyan traders to access financial markets, do technical analysis, follow movements, and place orders from any location in the world.
👉 The MT4 Android, iPad, and iPhone Trader can be downloaded and utilized instantly by XM’s Kenyan customers for their convenience. XM’s MetaTrader software was specifically developed to make use of many of the advanced features of a range of mobile devices to create a unique trading experience for all traders.
👉 XM has recently introduced a proprietary mobile trading app that can be downloaded on any iOS or Android mobile device, from tablets, iPads, iPhones, to other smartphones. With this innovative proprietary app, Kenyan traders can perform several functions, including:
➡️ Trade more than 1,000 instruments from the app’s interface
➡️ Access instant order execution with no requotes
➡️ Customize the trading account using in-app features
➡️ Access updated, real-time charts
➡️ Use more than 90 technical indicators
➡️ Access the latest news, market analysis, and research
➡️ Integrate the app with MetaTrader 5 to access additional features and benefits
Range of Markets
👉 Kenyan traders can expect the following range of markets from XM:
➡️ Forex
➡️ Cryptocurrencies
➡️ Stock CFDs
➡️ Commodities
➡️ Equity Indices
➡️ Precious Metals
➡️ Energies
➡️ Shares
Broker Comparison for Range of Markets
| XM | HotForex | Markets.com | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | No | Yes |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | Yes |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | Yes | Yes |
Trading and Non-Trading Fees
Spreads
👉 According to the account type, trading circumstances, the financial instrument traded, and the current market conditions, XM provides a range of variable spreads. According to retail investor accounts, the following are the typical 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 charged when Kenyan traders register and use the Shares Account. The typical commission charges on this account range from $1 up to $9 according to the individual shares that are being traded and the underlying exchange.
Overnight Fees, Rollovers, or Swaps
👉 To calculate overnight costs with XM, Kenyan traders will need to consider many criteria such as the financial instrument being traded, whether long or short positions are held, the amount of money being exchanged, and so on.
👉 XM charges the following overnight fees:
➡️ AUD/CAD – a long swap of -3.93 and a short swap of -3.4
➡️ AUD/CHF – a long swap of -1.24 and a short swap of -4.04
➡️ CHF/JPY – a long swap of -7.17 and a short swap of -3.07
➡️ AUD/USD – a long swap of -2.34 and a short swap of -1.54
➡️ EUR/USD – a long swap of -5.43 and a short swap of -0.83
➡️ GBP/CAD – a long swap of -5.9 and a short swap of -8.3
Deposits and Withdrawals
XM offers the following deposit and withdrawal methods:
➡️ Credit Card
➡️ Debit Card
➡️ Bank Wire Transfer
➡️ Local Bank Transfer
➡️ Skrill
➡️ Neteller
➡️ WebMoney
How to Deposit Funds with XM
To deposit funds to an account with XM, Kenyan traders can follow these steps:
➡️ Kenyan traders can select the “Members Login” from the homepage to be redirected to the access area.
➡️ Traders can provide their account ID and password to log in.
➡️ Traders can select their preferred deposit method, enter the amount to deposit and select “Deposit.”
➡️ Traders can confirm their ID and deposit amount, followed by any additional information as per the payment method that they use.
How to Withdraw Funds with XM
To withdraw funds from an account with XM, Kenyan traders can follow these steps:
➡️ Kenyan traders can log into their My Account page from the XM website.
➡️ Traders can select the option to “Withdraw” from the main menu and select the available withdrawal option according to the method that was used to make a deposit.
➡️ Traders can enter their withdrawal amount and submit the request after confirming the details of the withdrawal.
Because of the risks involved with money laundering, terrorism financing, and other financial crimes, XM only processes withdrawals and refunds to the original deposit source in line with the Withdrawal Priority Procedure.
XM Education and Research
XM offers the following Educational Materials:
➡️ XM Live
➡️ Live Education
➡️ Live Education Schedule
➡️ Educational Videos
➡️ Platform Tutorials
➡️ Forex Seminars
XM offers Kenyan traders the following Research and Trading Tools:
➡️ Trading Tools
➡️ MQL5
➡️ Forex Calculators
➡️ Markets Overview
➡️ News Feed
➡️ XM Research
➡️ Trade Ideas
➡️ Technical Summaries
➡️ Economic Calendar
➡️ XM TV
➡️ Podcasts
Bonuses and Promotions
XM provides Kenyan traders with a broad choice of incentives and promotions to entice new traders to join the platform, as well as to reward existing clients and traders who remain active.
Promotions include a $30 no-deposit bonus, which is paid to the trader’s account, and a 50% deposit bonus on top of a 20% deposit bonus of up to $4,000. Kenyan traders can also access the following:
➡️ Existing customers can participate in “Trade and Win” events and tournaments
➡️ XM Loyalty Program and Referral Bonus
➡️ 0% commissions on deposits and withdrawals, including electronic payment providers, major credit cards, and bank wire transfer up to $200, for qualifying customers
XM Affiliate Program
XM offers Kenyans an extensive affiliate program that includes the following benefits:
➡️ Up to $25 in commission per lot traded
➡️ 10% on second tier referrals
➡️ Zero limits on commissions that can be earned
➡️ Multilingual customer support
➡️ Transfers between Introducing Brokers
➡️ Frequent and prompt pay-outs
➡️ A personal account manager
Verdict on XM
XM aims to make a positive difference in the lives of people around the world despite their religion, culture, or their ethical background, helping them achieve their potential. XM is involved in the following initiatives:
➡️ Education and Skills Development by initiating projects that can help people get the education that they need. These initiatives also help individuals develop essential vocational skills.
➡️ Research and Development – XM contributes to research along with development and innovation initiatives that serve a greater purpose.
➡️ XM and its dedicated team have teamed up with local and international active human aid foundations to try and make the world a better place.
XM and MyCARE recently worked together on a disaster relief initiative in Malaysia to assist those who had been displaced by the December 2021 floods that afflicted significant regions of the nation. UN Economic and Social Council recognized myCARE as a non-profit organization that has worked relentlessly to aid the most impacted families.
XM has provided donations to Plan Korea, a children’s organization in Korea that aims to improve the lives of children and ensure that females have equal rights and opportunities. In addition, education and anti-discrimination measures are provided by Plan Korea.
XM also works to help children in impoverished nations. The broker collaborates with other charitable organizations to help them improve their quality of life and ensure they have the resources to satisfy their basic needs.
As part of the UNHCR’s emergency response program for unaccompanied refugee children entering Greece, XM has teamed with the UN Refugee Agency (UNHCR). More than 5,000 unaccompanied refugee children are now in Greece, but only 2,225 of them are insecure, have adequate housing, and are receiving adequate care.
In December 2021, XM partnered with Malaysia’s Bendera Putih (White Flag) effort to help people in need amid the COVID-19 epidemic.
By teaming up with De. Wan restaurant, XM created 250 take-out meal boxes on-site for those who could not afford to buy food regularly after giving 300 food boxes to the Bendera Putih project in July of 2021.
XM Current Popularity Trends
👉 According to Google Trends, XM has seen an increase in Google Searches in the past month.
XM Pros and Cons
| ✔️ Pros | ❌ Cons |
| XM is a multi-regulated and multi-award-winning CFD and forex broker | There is no KES-denominated trading account and Kenyan traders could face currency conversion fees |
| XM offers negative balance protection on retail accounts | |
| There is a selection of retail trading accounts offered for every level of trader | |
| XM accepts several trading strategies and welcomes beginners and professionals alike | |
| There is a wealth of educational materials, research, and trading tools | |
| Kenyan traders are accommodated and can make deposits in local currency | |
| XM is known for its competitive trading conditions and transparent trading environment | |
| Client fund safety is guaranteed |
Frequently Asked Questions
Does XM offer leverage and what is the maximum ratio offered?
Yes, XM offers maximum leverage up to 1:888 depending on the trader’s account balance.
What is the overall rating for XM out of 10?
Our review of XM reveals a rating of 9/10.
Does XM offer a Demo Account?
Yes, XM offers a demo account.
Is XM regulated and by whom?
Yes, XM is regulated by the FSCA, IFSC, ASIS, CySEC, and DFSA.
Is XM suitable for beginner and professional traders?
Yes, XM is an ideal broker that can be used by beginner and professional traders.
