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  • #1,641
  • Jan 14, 2020 8:02am Jan 14, 2020 8:02am
Hello,

after open an account with XM, I found out that 'netteller' and simple 'wire transfer' is NOT SUPPORTED anymore for deposit.
Support agreed on that - really strange

the only options i got offered are credit card and a few exotics e-wallets (see file).
Attached Image (click to enlarge)
Click to Enlarge Name: DepositXM.JPG Size: 68 KB
  • #1,642
  • Jan 14, 2020 11:48am Jan 14, 2020 11:48am
becomes more and more confusing :
from neteller I got a mail with this promotion for XM ????
...
Attached Image (click to enlarge)
Click to Enlarge Name: NetellerXM.JPG Size: 33 KB
  • #1,643
  • Feb 4, 2020 3:56am Feb 4, 2020 3:56am
Quoting J.Forex
Hello, after open an account with XM, I found out that 'netteller' and simple 'wire transfer' is NOT SUPPORTED anymore for deposit. Support agreed on that - really strange the only options i got offered are credit card and a few exotics e-wallets (see file). {image}
Dear J.Forex,

The available funding and withdrawal methods vary from country to country.

Each and every region is offered different options. What applies for your region is the methods you see in your members area.

As far this offer you received from a 3rd party, from what I understand from what you say, you have received this email from Neteller?

Although the offer might be valid a 3rd party inviting clients to use XM can in many times send offers which do not apply or are not correct.

Please confirm if the email was sent from Neteller and I will investigate it.

Thanks,
  • #1,644
  • Feb 4, 2020 4:06am Feb 4, 2020 4:06am
Quoting XM
{quote} Please confirm if the email was sent from Neteller and I will investigate it. Thanks,
I confirm, I got the offer DIRECTLY FROM Neteller when I logged into my neteller account.
Not by e-mail, it offered directly in the neteller client area! So it must have been from them.
  • #1,645
  • Feb 4, 2020 6:05am Feb 4, 2020 6:05am
Quoting J.Forex
Hello, after open an account with XM, I found out that 'netteller' and simple 'wire transfer' is NOT SUPPORTED anymore for deposit. Support agreed on that - really strange the only options i got offered are credit card and a few exotics e-wallets (see file). {image}
It depends of your country of residence. For example here's a screenshot of client area with it = https://photoshar.in/XM-neteller-deposit-option
  • #1,646
  • Feb 4, 2020 7:26am Feb 4, 2020 7:26am
Quoting rockthepips
{quote} It depends of your country of residence.
YES, and the BASE Currency of the account to deposit on.
I added an EUR based account, where I got a few more deposit options than on the original USD based account.
For example "wire transfer" is not available for me with USD account, but with the EUR account.
  • #1,647
  • Feb 4, 2020 12:10pm Feb 4, 2020 12:10pm
Just try to open account now but they said I can only do 30:1 since I fall under XM CY... Not sure if the livechat presented the right info... I had no problem opening "Global" division at other brokers since I believe EU citizens are still able to open account where they like... So not using XM atm... Unless I find a way to open higher leverage account than 30:1... For 30:1.. I prefer to stick to what I know already...
Can you afford to take that chance?
  • #1,648
  • Feb 5, 2020 5:09am Feb 5, 2020 5:09am
Quoting J.Forex
{quote} I confirm, I got the offer DIRECTLY FROM Neteller when I logged into my neteller account. Not by e-mail, it offered directly in the neteller client area! So it must have been from them.
Dear J.Forex,

Will investigate and raise the issue. If Neteller is not an available funding/withdrawal option in your region it should not be showing there.

If you don't mind me asking, may I ask in which country you reside?

Thanks,
  • #1,649
  • Feb 13, 2020 11:19am Feb 13, 2020 11:19am
Hi I was wondering how long it takes to withdraw funds using Dusu pay_Mpesa option.thanks
  • #1,650
  • Feb 17, 2020 6:58am Feb 17, 2020 6:58am
Quoting wembe
Hi I was wondering how long it takes to withdraw funds using Dusu pay_Mpesa option.thanks
Dear Wembe,

Dusu Pay withdrawals are processed from XM within 24 hours and then it usually takes 2-4 days to arrive in your account.

In any case if for any reason you have not received your funds after the 2-4 days window please let me know what your account number is and will happily investigate this for you.

Thanks,
  • #1,651
  • Feb 26, 2020 5:45am Feb 26, 2020 5:45am
Hello XM admin. I am considering to open an account with XM changing from Forex.com. The reason I am changing from Forex.com is because their variable spreads are out of control. Variable spreads in itself is great but what Forex.com does is they frequently increase the usually 2 pip spread on e.g. EURAUD to 15 pip spread before and after the weekend which essentially close any pending order within 15 pips to a horrible price.


What I want to know from XM before I open an account and deposit funds is, what was the variable spread at for e.g. EURAUD during the last weekend. I.e. what was the spread just before closing on Friday evening?

I chatted with your support who claimed you could give me this information here as long as I specified the pair and time I wanted to know the spread for. That way I do not need to open a demo account and wait for the next Friday night to check this myself.

Thank you in advance.
  • #1,652
  • Feb 26, 2020 6:03am Feb 26, 2020 6:03am
Hello again XM admin.

I am trying to understand the difference between the Ultra Low Standard account and the Standard account as explained here : https://www.xm.com/account-types

As a semi-pro long-term profitable trader, which account would you recommend? From what I understand, please correct me if Im wrong, the main differences you are officially marketing are "lower spreads but less bonus schemes on the Ultra Low Standard account".

Few questions:
1) Are there any other "under the hood" differences between the two accounts. I.e. how are you able to offer the lower spreads on XM Ultra, ofc you have to earn it back somehow so is it simply by trading away the bonus schemes, or are there some other important difference that a potential long-term client should now about such as more spread variability, or more DD vs NDD?

2) Do I trade the exact same underlying instruments when I trade e.g. EURUSD on an XM Ultra account vs a Standard account?

3) Does both accounts trade with the same counterpart and go the same route through the DD or is XM routing the risks different for the Ultra Low vs regular accounts?

2) Since the bonus schemes as described here https://www.xm.com/bonus-program doesnt seem to be aimed at long term profitable traders (since the bonus credits will be fully removed x amount of withdrawals) do I interpret it correct that the XM Ultra Standard accounts are more aimed to the semi-pro long term trader audience, while the Standard accounts with bonus schemes and slightly higher spreads are aimed to "the rest"?

I hope you see what I am getting at, I just want an honest information to what all the trade offs are for getting these lower spreads.
  • #1,653
  • Mar 3, 2020 7:31am Mar 3, 2020 7:31am
Dear Josephaa,

Thank you for your enquiries. I am replying to each and every question one by one so we can keep on track as you have asked many valid questions.

Hello XM admin. I am considering to open an account with XM changing from Forex.com. The reason I am changing from Forex.com is because their variable spreads are out of control. Variable spreads in itself is great but what Forex.com does is they frequently increase the usually 2 pip spread on e.g. EURAUD to 15 pip spread before and after the weekend which essentially close any pending order within 15 pips to a horrible price.

Before market closing and after market opening spreads tend to become abnormal due to the thin trade taking place when the market is approaching the end of the week or the opening of the week.

At XM what we do to ensure there is no abnormal fluctuations at those times is that we close trading 10 min earlier on Friday evening and we open trading 5 min later on Sunday evening. This policy which has been in place since our inception was put in place exactly for the reason to protect against these spikes you mention above.


What I want to know from XM before I open an account and deposit funds is, what was the variable spread at for e.g. EURAUD during the last weekend. I.e. what was the spread just before closing on Friday evening?

I chatted with your support who claimed you could give me this information here as long as I specified the pair and time I wanted to know the spread for. That way I do not need to open a demo account and wait for the next Friday night to check this myself.

Although what the support desk claimed is correct, I would still suggest you open a free demo account and have a look at the charts on the instrument you are interested in backwards. This would be the most realistic way to go back on the charts and see our pricing. Our Demo and Live accounts have exactly the same pricing so this will be very convenient for you.

I am trying to understand the difference between the Ultra Low Standard account and the Standard account as explained here : https://www.xm.com/account-types

As a semi-pro long-term profitable trader, which account would you recommend? From what I understand, please correct me if Im wrong, the main differences you are officially marketing are "lower spreads but less bonus schemes on the Ultra Low Standard account".


I cannot recommend the type of account which suits you. However below I am underlining the differences of these account types so you can make an educated decision.

Few questions:

1) Are there any other "under the hood" differences between the two accounts. I.e. how are you able to offer the lower spreads on XM Ultra, ofc you have to earn it back somehow so is it simply by trading away the bonus schemes, or are there some other important difference that a potential long-term client should now about such as more spread variability, or more DD vs NDD?

2) Do I trade the exact same underlying instruments when I trade e.g. EURUSD on an XM Ultra account vs a Standard account?

3) Does both accounts trade with the same counterpart and go the same route through the DD or is XM routing the risks different for the Ultra Low vs regular accounts?



Ultra Low Standard Vs Standard: The main and only difference between the XM Ultra Low Account and a usual XM Standard Account is as you correctly noted the “trade-off” between incentives which include but may not be limited to bonuses promotions and the loyalty scheme which earns you points which can be exchanged to bonus.

By choosing an Ultra-Low account in reality you choose not to claim bonuses or certain promotions at XM and opt in for a lower spread. There is no other “under the hood” differences as you noted. Both accounts follow the same quality of execution, the same risk-management the same all more or less besides as noted above that by choosing an ultra low account you opt out of any incentives and some promotions may be restricted to you.

4) Since the bonus schemes as described here https://www.xm.com/bonus-program doesnt seem to be aimed at long term profitable traders (since the bonus credits will be fully removed x amount of withdrawals) do I interpret it correct that the XM Ultra Standard accounts are more aimed to the semi-pro long term trader audience, while the Standard accounts with bonus schemes and slightly higher spreads are aimed to "the rest"?

I will tend to disagree with you on this one. There is no one recipe suits all. Some clients love our promotions and our loyalty scheme and some are not interested and choose to trade on a lower spread. Moreover the bonus credits are removed proportionally and not removed entirely upon placing a withdrawal as explained on this page -> https://www.xm.com/bonus-program.

If you think about it logically if this rule was not in place, one would deposit, receive the credit, then place a withdrawal and re-deposit to get the bonus again and again. So by removing credits proportionally we safeguard our promotions from abuse.

Please note that at XM you can maintain up to 8 sub - accounts which means that account 1 can be a Standard Account and Account 2 can be a Ultra Low account which gives you the flexibility to choose the one which is best for you or compare both side by side. This also gives you the flexibility to transfer funds between accounts at no charge.

I am here to help with more questions if there is something I have not covered completely.

Thanks a lot,
  • #1,654
  • Mar 9, 2020 12:24pm Mar 9, 2020 12:24pm
Kindly find attached details of an Order No. "129601094". I opened a "Sell Stop" trade on 6th March, 2020 on MT5 account (Price: 40.75, Stop Loss: 41.00, Take Profit: 40.25). Despite showing in the "History" section that Take Profit was achieved, a loss has been shown in the "History" which is in total negation of the market conditions that happened. I would like to know why this thing has happened along with necessary remedial measures.
Attached Image (click to enlarge)
Click to Enlarge Name: Oil Trade from History (09_03_2020).png Size: 13 KB
  • #1,655
  • Mar 11, 2020 12:46am Mar 11, 2020 12:46am
Thank you for excellent and thorough replies, I look forward to get started on XM.com and migrate from my current broker. A few follow ups below if I may.

Quoting XM
Before market closing and after market opening spreads tend to become abnormal due to the thin trade taking place when the market is approaching the end of the week or the opening of the week. At XM what we do to ensure there is no abnormal fluctuations at those times is that we close trading 10 min earlier on Friday evening and we open trading 5 min later on Sunday evening. This policy which has been in place since our inception was put in place exactly for the reason to protect against these spikes you mention above.
That's brilliant, thank you for explaining.

Quote
Ultra Low Standard Vs Standard: The main and only difference between the XM Ultra Low Account and a usual XM Standard Account is as you correctly noted the “trade-off” between incentives which include but may not be limited to bonuses promotions and the loyalty scheme which earns you points which can be exchanged to bonus.
Quote
By choosing an Ultra-Low account in reality you choose not to claim bonuses or certain promotions at XM and opt in for a lower spread. There is no other “under the hood” differences as you...
Great, thank you for the thorough explanation.

Quote
I will tend to disagree with you on this one. There is no one recipe suits all. Some clients love our promotions and our loyalty scheme and some are not interested and choose to trade on a lower spread. Moreover the bonus credits are removed proportionally and not removed entirely upon placing a withdrawal as explained on this page -> https://www.xm.com/bonus-program.
Quote
If you think about it logically if this rule was not in place, one would deposit, receive the credit, then place a withdrawal and re-deposit to get the bonus...
[/size]
Just one followup question here. I agree with and understand the safeguard for preventing immediate withdrawal of earned bonus. But usually in broker bonus programs there are some methods to convert the "bonus balance" to "regular balance" e.g. after trading x amount of lots or other activity goals. But as I understand from XM's bonus terms there are no such methods for the "xm deposit bonus" and the "xm loyalty points" bonus schemes . In other words, if I manage to claim $1000 through any of these bonus schemes, that $1000 will either 1) get partially removed with each withdrawal I make from the account, no matter if the withdrawal is of initial funds or profit or 2) permanently remain in the "bonus balance" and never get transferred to the "cash balance". So in other words the "bonus balance" only has the advantage of increasing the account margin. Or is there any method I missed to convert "bonus balance" to "cash balance" or any other advantage other than the effect on margin.
  • #1,656
  • Mar 24, 2020 6:49am Mar 24, 2020 6:49am
Has Crypto been removed from your platform? My BTCUSD chart no longer works and its no longer in the symbols list
  • #1,659
  • Mar 26, 2020 5:25pm Mar 26, 2020 5:25pm
Hi, want to ask,
For how many minute do I need to hold trade for it not to be consider scalping?
  • #1,660
  • Mar 31, 2020 6:40am Mar 31, 2020 6:40am
Quoting greeeed
Hi, want to ask, For how many minute do I need to hold trade for it not to be consider scalping?
Dear Greeeed,

There is no specific timing which is not allowed. However scalping during news releases might result in XM the leverage offering of your account being reduced.

As long as its sensible, there is no specific restriction or rule.

Thanks,
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