1 XM Review
XM
Leverage: 1:30 to 1:888
Regulation: CySEC, ASIC, IFSC
Min. Deposit: US$5
HQ: Cyprus, Australia, Belize
Platforms: MT4, MT5, XM WebTrader
Found in: 2009
XM Licenses
Trading Point of Financial Instruments Ltd - authorized by CySEC (Cyprus) registration no 120/10
Trading Point of Financial Instruments Pty Ltd - authorized by ASIC (Australia) registration no 443670
Trading Point MENA Limited - authorized by Dubai Financial Services Authority (DFSA) reference No. F003484
Trading Point of Financial Instruments UK Limited - authorized by FCA (UK) registration no. 705428
XM Global Limited - authorized by IFSC (Belize) registration no. IFSC/60/354/TS/19
What is XM.com?
The XM broker started its activity in 2009 and so far operating clients from over 196 countries with a support staff speaking in 30 languages and is among the most trusted Regulated Brokers. The main branch located in Cyprus regulated by CySEC, yet offices are truly covering global needs and serving through Australia, UK, Belize, Greece also authorized in Dubai and MENA region.
About 1.5 Million Traders and investors at XM choose its wide range of XM trading products and the services broker provides along with advanced trading solutions, yet suitable for beginning traders as well. The reason for such fast growth and trust to the broker is that XM aims to provide one of the best user experience in the industry to its clients.
At XM the account can be opened regardless of a net of capital with only 5$ or the trading experience, also with its global approach and discovery of new markets, XM supports webinars and research materials. Which allows traders from various international countries to engage and start trading carer.
Generally, all procedures from account opening, managing, depositing/ withdrawing, and trading is straightforward, simple and transparent, which we will see in detail further within XM review.
XM Pros and Cons
XM is a broker with great reputation and numerous regulations. The offering is user friendly and XM has one of the lowest deposit requirements among industry, CFD costs are low and platforms are very friendly to all types of traders.
On the other hand, XM has limited portfolio for EU clients, and outside EU clients there is no good investor protection.
Leverage
Depending on the account type and the entity under which the XM follows regulatory obligations, you are entitled to the leverage on a scale from 1:1 to 888:1. So to understand which leverage level you entitled to use, always refer to the conditions of your residency as various XM entities apply different conditions again due to regulatory obligations.
XM offers leverage up to 30:1. This Leverage applies to the EU regulated entity of the Group.
Also, Leverage depends on the financial instrument traded
XM Australian entity and its regulation allows up to 500:1
And International entity offers high leverage of 1:888
However, always choose your leverage smartly, as well as the entity under which you would like to trade, which you may learn more through the XM education center.
Besides, leverage always depending on the financial product you use, alike European clients of Trading Point Cyprus may express a ratio of 1:5 for Cryptocurrencies and even a maximum of 1:2 for some products.
Source of Review
XM Review (2022) Is XM a Scam or Legit Forex Broker ☑️ (55brokers.com)
2.Just Forex
Is JustForex a scam or a legit broker?
JustForex is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.
What is JustForex?
JustForex is a retail Forex broker that provides traders access to the foreign exchange market and offers great trading conditions on accounts such as Standard Cent, Standard, Pro, Raw Spread, a wide choice of trading instruments, a leverage up to 1: 3000, tight spreads and market news. JustForex offers its clients the best trading conditions, providing them with the necessary trading tools and strategies, low spreads, flexible leverage. At the moment, different types of accounts are available for opening, which differ in trading conditions.
About JustForex
Licenses & Regulation
Is JustForex regulated?
JustForex is owned by JF Global Limited, which is an offshore company licensed in St. Vincent and the Grenadine.
However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders.
Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.
According to the website, “JustForex has reached the trust of over millions of clients from 197 countries. Our company is one of the top popular world brokers.” The broker claims to be regulated by the Financial Services Authority of St. Vincent and the Grenadine. However, this license is not enough to be able to operate in “197 countries”.
3.Exness
Leverage: 1:30 | 1:1000
Regulation: CySEC, FCA, SFSA
Min. Deposit: 1 US$
HQ: Seychelles, Cyprus, UK
Platforms: MT4, MT5
Found in: 2008
Exness Licenses
Exness (Cy) Ltd - authorized by CySEC (Cyprus) registration no. 178/12
Exness (UK) Ltd - authorized by FCA (UK) registration no. 730729
Nymstar Limited - authorized by SFSA (Seychelles) registration no. SD 025
Top 3 Forex Brokers
Is Exness safe or a scam
No, Exness is not a scam it operates under relevant country’s legal requirements authorized by FSCA South Africa providing low risk Forex and CFDs.
Is Exness legit?
Exness Group due to its presence in various countries and established offices regulated by necessary local
authorities that also highly respected within the industry. Exness UK Ltd is authorized and regulated by the
Financial Conduct Authority, while Exness CY Ltd holds a license from CySEC.
Thus, the broker permitted to provide financial products or services within its activity in above mentioned
countries and in another country in the EEA. Also, there is a license from an offshore Seychelles, which rather
provides just registration than serious regulation, yet additional licenses from reputable authorities make things and Exness offers reliable.
How are you protected?
Therefore, and due to operational standards that are set according to the requirements along with the customer protection, money segregation and participation in investor compensation fund or scheme. The EEA registration and the provision of services on a cross-border basis performed by authorization from cross authorities within Europe that makes Exness operation standards highly reasonable ones.
Leverage
As the majority of Forex brokers, Exness also offers to use leverage, which may increase potential gains through its possibility to multiple initial accounts balance. Leverage levels always depending on the instrument you trade, as well defined by the regulatory restrictions and your personal level of proficiency. Since FCA and CySEC along with its European directive miFID significantly lowered the possibility for leverage levels, the maximum leverage you may use as a retail trader is
- 1:30 for major currencies,
- 1:20 for minor ones
- 1:10 for commodities.
Yet, a global entity of Exness may allow much higher leverage ratios up to 1:1000, which are also defined by the country of your origin. And of course, always learn how to use leverage correctly, as leverage may increase your potential loses as well and is a different feature in various instruments.
Account types
The accounts available with more than 80 currency options while the company features instant payment options and offers Standard Cent Account which is great for traders of smaller size, Standard Account and Professional ECN Account with raw spread offering and commission charge per trade. At Exness you can expect a fully-regulated and safe trading environment that allows to either open a demo account and test trading strategies or to open a live account to enter forex markets. The traders of world jurisdictions may be subjected to different account offerings that range according to regulation and compliance.
Market Instruments
The markets that you can trade with Exness offers popular Forex with 107 currency pairs, CFDs on Stocks and Indices, Energies, Metals and 7 Cryptocurrencies.
Deposits and Withdrawals
Exness performs instant deposits and withdrawals with no commission charges using a number of electronic payment system that provides control over your trading account funding at convenience.
Deposit Options
The payment options including the possibility to use either method so you can always choose a suitable one. Exness typically does not charge any deposit fees or internal charges, you payment provider according to the residence might add on some fee, so make sure to verify it.
Bank Wire Transfers
major Credit Cards,
e-systems Neteller and Skrill
Exness Minimum deposit
Exness does not require a specific amount at the beginning, so you will be able to start as small as 1$. The professional account may demand though 200$, and of course check on the necessary margin requirements that are usually set for each trading instrument separately. Also, check on the payment methods, as some of them set a minimum transfer amount.
Desktop platform
Both MT4 and MT5 support all devices including PC and MAC, so the choice is yours which platform you prefer to use either industry standard or its new developed version MT5. Good to mention again that each account supports both platforms, so there is no need to specify, you can use two at the same time, which is great.
Trading styles
Since there are many traders who still prefer the MT4, both options are available along with the analytical service with free technical analysis from Trading Central, high-quality VPS hosting, economical calendars, quotes history and a constant monitor of the accounts. The most relevant news affecting the Forex market available from Dow Jones News, the leading provider of information in the world, hence included into the streaming line of the platforms. Meanwhile, all trading styles are welcomed making your strategy available and possible to be performed at Exness.
Conclusion
Overall Exness review is about the transparent, fully regulated by various jurisdictions brokerage company that was recognized timely for its achievements and high operational standards. Apart from the availability of the Mini and Standard accounts that enables traders of any size to join, competitive trading conditions from 0.1 pips and range of markets so you get technical support from the industry-leading MT4 or MT5 platforms.
Exness Updates
We have found that Exness UK and EU entities based in Cyprus no longer offers trading services and accept new clients. Exness for now operates its newly opened branch in South Africa authorized by FSCA and via international subsidiary in offshore Seychelles. We recommend traders to do your own research before you sign in and open an account only with the regulated entity, for now it is only the South African Exness entity.
4.FBS
FBS Broker Licenses
• Tradestone Limited -authorized by CySEC (Cyprus) registration no. 353534
• Intelligent Financial Markets Pty Ltd - regulated by the ASIC (Australia) licence number 426359.
• FBS Markets Inc. - authorised by IFSC (Belize) registration no. 119717
• TRADE STONE SA (PTY) LTD - authorised by FSCA (South Africa) license no. 0885
What is FBS?
FBS was founded as an international broker that serves clients from over 150 countries since 2009 shows its excellence by numerous prestigious awards and cutting-edge technologies on the Forex Market. While at the very beginning the broker was established in Belize only, lately, FBS became also a Cyprus Broker. That definitely helps and supported expanding of its service to a European population for both newbie and professional traders
Regulated, set by the European legislation environment brought greater capabilities to a broker with useful tools and fully authorized trading service, which push FBS development even better. Further in our FBS review we will cover its trading proposal conditions and see whether they are competitive.
FBS Pros and Cons
FBS operates for many years and provides stable trading environment, there are good trading conditions including copy trading on MetaTrader4 and 5, spreads are considered low based on our research also education section is wide.
From the negative side, trading instruments are limited to Forex and CFDs and trading conditions vary in each entity, we recommend signing with European entity for better transparency.
Is FBS safe or a scam
No, FBS is not a scam, FBS is a brand name used by the Tradestone Limited, which is a Cyprus registered company, EU and MiFID regulated investment firm registered with CySEC.
An additional entities of FBS is located in the Marshall Islands and Belize, which are offshore zones that do not really prove its reliable status on its own. Belize local regulator International Financial Service Commission or IFSC mainly just register companies rather than regulate them. Yet, together with regulation from European CySEC it makes FBS a broker which compliant to regulatory requirements and therefore offers reliable trading conditions.
How are you protected?
Indeed, trading with a regulated broker that adheres to strict standards is a first and important step before you sign in with any trading company. In this matter, FBS with its obtained license and compliance to MiFID directive, there are strict rules towards money protection while FBS keeps traders funds in segregated accounts, making it unreachable for any other company use, as well as enhances capabilities y Negative Balance protection. In addition, being a Cyprus Investment Firm FBS falls under the Compensation Scheme, which protects the client’s investments in case of the broker’s insolvency issue. Therefore and because of its obtained license compliance to MiFID directive, there are strict rules towards money protection while FBS keeps traders funds in segregated accounts, making it unreachable for any other company use, as well as enhances capabilities y Negative Balance protection. In addition, being a Cyprus Investment Firm FBS falls under the Compensation Scheme, which protects the client’s investments in case of the broker’s insolvency issue.
Leverage
Obviously, leverage levels increase your trading size by its possibility to multiply initial balance bringing vast opportunities to higher gains. As usual, offered leverage depending on some factors including your level of expertise, residence, which instrument you trade as well as falls under regulatory restrictions. Therefore,
• trading with European entity you may maximum use 1:30 leverage for major currency pairs,
• International FBS may offer high leverage ratios up to almost fantastic 1:1000 or even 1:3000 sometime
Yet, always make sure to learn how to use leverage smartly in order not to only gain, but to reduce the risks of losing yout money rapidly. Indeed highest leverage involves a high risk of losing in parallel to its gaining option, which may be not the best option for very beginners as well.
Account Types
While opening an account you may choose between Standard Account, Crypto Account and Cent Account, which is a perfect option for the beginners due to its much lower requirements and risks involved. However, note since FBS operates through two entries EU one and the International the conditions and trading proposal may vary. Alike, International traders can sign up with the alluring opportunity of 6 Account types, very high leverage of up to 1:3000, deposit bonus, cashback programs and much more. However, make sure you learn all the risks involved with high leverage and use of bonuses as well, in trading, there is always a risk of losing involved as well. The account types at FBS offer both demo and live trading accounts that give exactly what you may look for, regardless of the level of the experience. Demo Account is very recommended for beginners and if you would like to test the FBS Forex trading environment.
Conclusion
Our final though about FBS are good. The range of account types, platforms with advanced tools and convenient customer supports enables good trading conditions. Also, FBS adheres to popular and quite good reputation among traders, while also FBS actively participating in social activities and is a respected official trading partner of FC Barcelona and an official principal partner of Leicester City. While the trading costs are among the average as well, while there is no any misunderstanding due to the company FBS Markets execution model as an STP Broker.
5.DERIV
Deriv formally known as Binary.com was founded in 1999 by Binary Group who is a valued name in the binary options trading business. During the transition, traders will be able to trade on Binary.com. But as Binary.com will be phased out, traders can benefit from moving over to Deriv.com. Choose your quick section of our Deriv review below.
Who is Deriv?
According to research in South Africa, Deriv is the rebrand of the company, Binary.com. The platform provides an expanded product range,
an improved user experience, plus a glossy new logo.
In a gradual transition, Binary.com’s over one million customers, responsible for 43 million trades each month and $6 million in monthly withdrawals, will migrate to Deriv.com
Safe or Scam
One of the best benchmarks to measure the safety of a broker like Deriv is to establish which regulating authorities are watchdogs over its actions. In the EU, Deriv is regulated by the Malta Financial Services Authority (FSA). For traders outside of the EU, the broker is licensed with the Vanuatu Financial Services Commission (FSC) and the British Virgin Islands Financial Services Commission (FSA). In addition, Deriv.com is regulated by Malaysia’s Labuan Financial Services Authority (FSA)
Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you
Leverage
Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss. Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you
Trading Platforms
The forex trading platform provided by Deriv to its clients is in essence the software to carry out their trades. Some brokers provide only one, others quite a few platforms. A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade. Deriv provides three trading platforms along with Binary.com’s SmartTrader system.
DMT5
Integrating MT5 and the related analysis and research tools, the platform is easy to use but feature-rich. It presents a great combination for traders at all levels.
DTrader
The customizable platform provides a clean interface and 50+ tradable assets.
DBot
The DBot platform provides an uncomplicated setup using algorithmic investing. Trading bots are free to develop, can be built in five steps, and can be used on over 50 assets.
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ.
In the case of Deriv the following methods and minimum deposits are required:
Customer Support
Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it.
In the case of Deriv customers can reach the support team via telephone, email and they have a live chat option on their website.
Education
Before starting to trade, potential clients of Deriv should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
Deriv educational resources are lacking and this is a damper for beginner traders.
Research
To be able to trade with confidence, traders should do as much as possible res
