Broker Review: XM

Xm is one of the leading forex brokers. It was founded in 2009 and is headquartered in Cyprus. It’s one of the few brokers that are regulated by four different authorities which include ASIC, CySEC, FCA and IFSC. As such its one of the few truly global online brokers that legally provides their services to traders from different parts of the globe.

Tradable instruments

This online forex broker boasts over 300 different tradable instruments. Investors can choose among 55 plus currency pairs, CFDs, stocks, indices, precious metals, energies, cryptocurrencies and commodities.

Trading platforms supported

Xm supports both Metatrader 4 and Metatrader 5 trading platforms. Both platforms are popular among traders and each gives you access to over 300 different instruments to trade. Support for these platforms makes it easy to access your trading account from different internet enabled devices. These include desktop, IOS and Android devices.

Account types

This broker offers 5 different account types.

Like most online brokers, Xm offers a free demo account that’s credited with $100000 virtual cash. This account comes in handy when you want to try out the platform without investing real cash.

There are 4 different cash based accounts to choose from.

The first is the micro account which supports over 10 base currency options. This account type has a minimum deposit amount of $5 and contract sizes are 1000. No commission is charged on this account while leverage is offered between 1:1 and 1:888.

The second account type is the standard account. Its features are similar to those of the micro account except the contract size is 100000.

The third account type is the XM zero account. It only offers three base currency options and contract sizes of 100000. The minimum deposit amount is $100 and commissions are charged on transactions.

The final account type is the Islamic (swap free) account. These accounts do not attract rollover interests on overnight positions held. Other features you’ll find in Islamic account types include no upfront commissions and no spread widening.

Account funding and earnings withdrawal

This broker accepts up to 25 different payment methods. This makes it easy to choose the payment method that’s most convenient for you. Some of the accepted ways to fund your trading account or withdraw your earnings include credit card, electronic payments like Neteller and wire transfer.

Deposits made via credit or debit card and, electronic means will usually reflect in your account almost instantly up to 24 hours. Withdrawals are usually processes within 24 hours. The minimum deposit and withdrawal amount using these methods is $5.

If you prefer using bank transfer, your deposit or withdrawal amount will take between 2 and 5 days to reflect in your account. The minimum deposit or withdrawal amount via bank transfer is $200.

Additional features offered by Xm

Xm regularly runs promotions to attract new traders. At the time of writing, the broker is offering a $30 bonus for new traders. You don’t have to deposit your own money to start trading on the platform. Bonuses offered on new accounts can go as high as $5000.

This broker offers their service to traders from over 196 countries. The trading platform supports over 30 different languages making it even more accessible to traders from all over the globe.

Xm boasts as one of the trader friendly brokers. They’ve invested in a number of resources which increase a trader’s chance of success. These include personal account managers, access to trading signals, free daily technical analysis and free access to forex market research among others.


- A heavily regulated forex broker allowing it to legally operate in over 196 countries

- Easily accessible through different devices allows you to trade from anywhere on the globe

- You can start trading with as little as $5

- Over 300 different instruments to choose from doesn’t limit you to trading a particular instrument only


- Bonuses offered come with strict conditions which must be met before you can withdraw profits earned

- Deposits and withdrawals via bank transfer take as long as 5 business days. However, this is common across most forex brokers.


Xm is one of the few online forex brokers that have built a reputation for being pro-trader and offering excellent features. Since 2009, this broker has attracted over 1 million traders from across the globe. Their free demo account and an additional 4 different account types makes it a good choice for both beginner and experienced traders.

Forex trading in South Africa

Written by: Shaley

WHY FOREX TRADING IS SUDDENLY INTERESTING IN SOUTH AFRICA Forex trading is basically the buying and selling of currencies. The value of one currency is weighed against the perceived value of another with one being the base and the other being the counter. Typical forex market currency trade looks like this: USD/ZAR with the USD being the base and ZAR the counter.

The allure of Forex Trading in South Africa The internet happens to be awash with advertisements from brokers and trading companies promising to make you a millionaire within no time and more so without having to work a 9 to 5 job. Social media has also contributed to the lure of forex trading and the gold mine it supposedly is in South Africa. The forex South Africa industry has suddenly become a hotspot for traders claiming to have made it big as a result of their being in the industry. Most of them also happen to be in their youth and document their flashy lifestyle on social media crediting their success to forex trading.

As a result, the thought of living the kind of life these traders do is irresistible to most South Africans. It has become a sort of get rich quick scheme with everybody wanting to have a taste of the pie. Another reason that seemingly makes this an ideal investment opportunity is the flexibility it affords one. You can choose what hours to work and where to work from as long as you have currency in your trading account. Motivating most of these upcoming traders is also the potential huge returns that seem to result from trading, going by the number of successful gurus all over the social network sphere in the country.

The truth about Forex Trading Every trade or business has its pros and cons and forex trading is no exception. Experts in South Africa are of the opinion that despite all the glitz and glamour surrounding the prevalence of forex trading in the country, there are also downsides that most of the brokers and agents will not willingly reveal. There is some truth in that the industry has the potential of earning you mind boggling returns but there is also a very high likelihood of losing all your investment in a matter of minutes.

The trick with forex trading is to keep your eye out on the international markets in terms of business, politics as well as international relations. Other than that, for you to earn astronomical figures, you need to make a significant investment as each trade earns pennies on the dollar or whichever currency you choose to trade. Industry experts warn investors daring to try forex trading that they should brace themselves for anything even as they hope and plan for the best.

What you need to know if you are considering forex trading It is a speculations game: most traders trade generally on speculation even though market trends play a role in a trader’s investment decision. That means chances of being wrong on your hunch are just as good as of your being right. It is not a get-rich-quick-scheme: the forex market despite being the most liquid in the world happens to be the most volatile. The erratic changes also make it among the most unpredictable. The high returns one can enjoy means that it is a high risk area. Nothing is as simple as it looks or sounds. Money will be lost: if you are a newbie looking to join the Forex industry in South Africa, expect to get your fingers burned before you get the hang of it. A lot of new traders, according to Chrizette Rossouw of Real Trader stand a 95% chance of failing.

Scams are real: as a South African, I am sure you are not new to pyramid schemes and the like. There are brokers and agents whose only interest is getting your hard earned cash and then vanishing, so beware.

In case you decide to invest… You will need to settle on a broker to engage. There is a good number in South Africa even though some are not genuine. The broker you settle on will require that you open an account with them and you will furnish them with your name and phone number. A good one will contact you to discuss on the best way forward while they ask for further documentation. Then you will need to make a deposit in your account to access the trading platform and enable you to kick start your forex trading.

Lastly, there is no dispute that forex trading could accord you financial freedom. However, like I mentioned above, it is just not as easy as it has been made to sound in South Africa. Your best bet would be to enroll for training first before you even think of looking for a brokerage firm. You will need to learn terminology in the field such as pip, pivot point as well as the role of momentum in forex market. Training will teach you market analysis which is a crucial part of success in trading not forgetting you will learn how to calculate your return on investment as you leverage your trades.

Train first before you dare to go. That way, you will be able to make the right choices when you start trading. You will also be guided to the best brokers in the country where you are assured of professional help whenever you need it and security for your deposits.

Testing Easy Markets - a good forex broker ?

Easy Markets

EasyMarkets is one of the most popular Forex trading companies in the world. The company was registered in 2003 under the name Easy-Forex, but in 2015, the company rebranded to Easy Markets. The rebrand was in line with the company’s objective of connecting its customers with global markets. The company headquarters are located in Cyprus and it is regulated by CySec. In addition, the company has acquired a license from MiFid to operate in Europe and also operate in Australia under ASIC regulations. Today, the company boasts of more than 1.5 trillion US dollars in turnover as well as over 100,000 active traders.


One of the reasons why EasyMarkets has remained a dominant figure in Forex trading for the last 14 years is their innovative products. The most popular feature of the company a risk free type of trading option which gives traders an opportunity to cancel any foreign dealing within 1 hour. As a result, most people are able to reverse their transaction if they notice things going contrary to their predictions. The option prevents the user from losses in case the market experiences unexpected turbulence. Another unique feature offered by the market is the vanilla option. Most Forex trading companies offer binary trading which is different from the vanilla trading. Unlike the binary option, the vanilla option does not have a limit on the amount of payout that one can make. In addition expiry date in the vanilla option is flexible and can be customized according to trader’s needs. Other notable features of the account include free demo, Islamic banking option, mobile application option, toll-free trade alerts using SMSs, protection against negative balance, over 300+ markets to be accessed and a minimum balance of $100.

Trading platform

The company offers traders with a web-based trading platform which is user-friendly and fast loading. In addition, the company has invested heavily in the platform security to ensure that customer data such as card details are well protected. Some of the outstanding feature of the platform includes expert advisor, and inside the viewer. The platform also has a mobile application which makes it possible for traders to access in remote places.

Types of accounts

The most popular account under EasyMarkets is the standard account where one can start trading with a minimum of $100. In addition, the company has an Islamic account for Muslim traders which comply with sharia laws. All accounts have a standard fee charged for trading using the platform and the fee depend on the transaction costs. The VIP account is the highly ranked and holders have access to a personal analyst as well as phone trading feature.

Easy Markets Pros

- The company works with renowned banks all over the world providing more value to their clients

- High professional levels as a result of many years of trading experience

- Their platform is easy to use, and their registration process is straightforward

- Has a specialized learning program for beginners in Forex trading

Easy Markets Cons

- Unlike many Forex trading companies, the company platform does not provide locking capability after a transaction is done.


In summary, the company has over 14 years of experience in Forex trading, and it is licensed to trade in Europe and Asia countries. The company has one of the easiest to use trading platform. Due to their many years of experience, they are able to provide the best value for their customers.

A review of FXTM

When it comes to forex brokers, FXTM or can be very well considered as the new kid on the block. Being in existence since 2011, this forex broker company can be well regarded as one of the fastest growing names in the industry. In such a short span, the company has bagged a number of industry awards which include �Best Newcomer 2013’ and �Fastest Growing Forex Broker’.

Founded by Andrey Dashin, the founder of online broker Alpari, the company is head quartered at Limassol, Cyprus and is owned and managed by FT Global Limited and ForexTime Limited. While FT Global Limited is licensed by the IFSC of Belize, ForexTime Limited is regulated by CySEC or Cyprus Securities and Exchange Commission. The company has its global footprint with offices in different countries like Germany, France, Poland, Spain, Turkey, Italy, China, India, South Korea, Malaysia, Thailand and Nigeria.

Types of account that is available

Just like any other player in the Forex market, FXTM also offers a plethora of account types to its customers. The different types of accounts which are available at ForexTime include the following.

  • Standard account – Available after a minimum deposit of $100, the standard account offers different types of assets which includes 14 spot CFDs, 5 spot metals and different currency pairs. The margin call for this type of account is 40%

  • Cent Account – If you are not willing to deposit the bulk amount of $100, Cent account will let you try your luck at trading with a deposit of just $5. The margin call for the Cent account is 60%.

  • Shares Account – If you prefer stocks over assets while trading, the Shares Account is the right thing for you. Also referred to as PAMM account, the shares account type offers a margin call at 40%.

  • ECN Zero account – With a minimum deposit of $100, the ECN Zero account type lets you become the portfolio manager for other users. The margin call for this type of account is at 80%.

  • Apart from the ones mentioned above, some of the other account types available at FXTM include FXTM ECN, FXTM MT5 ECN account and the FXTM Pro account.

Supported platforms

MetaTrader 4 or MetaTrader 5 are the platforms available for trading at ForexTime. These platforms can be used either by downloading or on the web as well. Mobile versions of the platforms can also be installed on mobile phones and tablet PCs.

Deposit and Withdrawal options

To make the life of its traders simple, FXTM offers a wide variety of deposit and withdrawal options. The available options include VISA, Master Card, Maestro, Neteller, Alfa Click, Skrill, Yandax Money, Dotpay, Payza, QIWI, Western Union’s Quickpay and China Union Pay Credit Cards. The company also allows bank wire transfers to its customers as well.

Pros and Cons of ForexTime

Needless to say, every coin has two sides. While the pros of FXTM would include the tight spreads, PAMM account and high leverages, the cons would definitely be the fact that it does not accepts traders from the US, Japan, British Columbia and a few more countries.


With different account types, various supported platforms and easy deposit and withdrawal options, FXTM is certainly all set to give its customers a seamless and incomparable broking service. The company understands the needs of the traders well which has made it grow so fast and claim its name in the world of forex trading. 

Ava Trade

AvaTrade is among the best-ranked forex brokers in the world. It was established in 2006 and its head office is located in Dublin, Ireland. The broker offers its services in more than 150 countries worldwide hence its subsidiary offices are also located across the globe. AvaTrade has strived to meet all the legal regulations that are required in this industry and due to that, it is regulated and licensed by the European Union, ASIC(Australia), Financial Services Commission(Japan), B.V.I Financial Services Commission(British Virgin Islands) and in South Africa.


AvaTrade has only one standard account that requires users to make a minimum deposit of $100.One of the unique features of Ava Trade is the automated package that is embedded in the software. The broker offers forex trading APIs that are accompanied by smart strategies which can help anyone to make good sales. These APIs are offered free of charge and you will only pay for advanced professional and auto-trading tools.

Some of the automated-trading platforms that AvaTrade provides include AVA Auto Trader, Mirror Trader, MetaTrader 4 and ZuluTrade System. These systems can help you to trade using the latest version of AvaTrade and at the same time, they come with an array of APIs that you can use to kickstart your forex automation solutions.

The Software

When it comes to the technical aspect, AvaTrade offers a wide range of platforms. You are free to choose either manual or automated version from the available choices. Any single platform on the software gives one access to more than 250 trading tools, indicators, analytical tools and charts.

AvaTrade has a user-friendly interface and you will have an easy time navigating on its website. For multilingual usage, the website is available in English, French, Spanish, Italian, Portuguese, German, Arabic, Chinese, Russian, Japanese and Taiwanese. The platform is well-customized to meet the needs of any user.
The software comes with live feeds, live analysis and an advanced charting system. You can execute any action on the platform just with a single click. There are several platforms in the software that can be used by all users regardless of their knowledge and experience in the world of Forex trade.

Deposits and Withdrawals

The minimum deposit that one can make on AvaTrade is $100 while the maximum leverage is 400:1. It is prudent to note that high leverage translates to greater risk. You can make your deposits using an Ava Debit card, some credit cards, brokers who accept wire transfers, PayPal, WebMoney, Neteller and Moneybookers.
Ava Debit Card will save your time especially when you are trying to withdraw your funds. The withdrawal can take some days to be processed.


-Easy to use software that is available in different languages.

-The broker offers both Fixed and Floating Spreads.

-You can create a Demo account that will give you an overview of how the software works. With this account, you will be able to decide whether to proceed with the account or not.


-AvaTrade offers only one standard account

-The withdrawal process is lengthy and time-consuming


AvaTrade has been in the industry for a decade and has managed to win several major awards. It is one of the most respected forex brokers. The fact that it is regulated and licensed by international bodies which means that you can fully trust it. In addition to a friendly website that gives users an incredible experience, there are also support staff that can offer you any help in case you get stuck. In conclusion, AvaTrade is a broker that is worth your time and money.



HotForex, or to give the company its full name 'Hot Forex Markets (SV)', is a Forex traditng platform that is based in St Vincent and the Grenadines. This broker is registered officially as an International Broker (with a company registration number of 22747 IBC). HotForex is licensed and regulated by CySec (its license number is 183/12) and it provides all of the legal documentation relating to its licensing and regulation as a company on its website. It has been in business since 2011, and as a result has survived beyond the 3 year mark that is usually a difficult hurdle for new trading platforms to pass.

Types of trading and platforms that are supported by HotForex
HotForex primarily (as the name of the company indicates) offers Forex trading, however this broker also provides a platform and associated tools for trading commodities. Binary options, one click trading, and various other platforms are supported here. HotForex also provides assistance in the form of trading calculations, articles relating to successful trading, and other practical and educational materials. HotForex is designed for use by both private traders and retail or industrial clients.
What type of accounts are available?
There are several account types available: one to suit everyone's needs. From the low maintenance Micro Account to the high powered VIP Account and the advanced Zero Spread account, there are a range of options here.
Desposit and withdrawal options
There are all of the deposit and withdrawal options that you would expect from a Forex broker, including wire transfers, debit and credit cards, and online payment providers (such as PayPal and Neteller). Fees and commissions associated with deposits and withdrawals differ depending on which method you are using; deposit and withdrawal time frames also vary in this way.
Bonuses and other special features
HotForex offers free signals and bonuses such as free market calculations, free funding, and a variety of competitions that revolve around winning everything from gadgets to HotForex merchandise. Another promotion offered by this site is the HotForex Mastercard, which can function both as a source of general credit and a method of financing your trades as you use HotForex.
Pros and cons
The Pros of using this broker include its reliability and transparency, the great range of account options that are available to you, and the wealth of educational material that is provided. The free calculations are very handy, too! The Cons include the way in which the site attempts to tempt you to buy its merchandise or participate in promotions and contests on a regular basis. The trading here is also very manual in form, and some traders might prefer it to be more automated to enhance the efficiency and convenience of their trades.
The HotForex site is very rich in terms of the information provided, the interesting offers, and the types of commodities that you can trade. This is a reliable Forex trader which provides an account option for all site users, and provides plenty to entertain and inform you. Great for advanced and intermediate traders especially.

CM Trading

CM trading is a South African forex broker regulated by Financial Services Board (FSB). Its diversified trading products include currencies, indices, stocks, commodities, and CFD’s. The firm has been in operation since 2011.

Platforms offered

CM trading offers two platforms; Meta-trader 4(MT4) and Sirix Web Trader. Other than that, traders can use MT4 App on their Android devices. Their copykat social trading platform enables traders to watch professional traders when executing their trades.

Accounts offered

Mini account

It requires a minimum deposit of $250. Traders can enjoy a leverage of 1: 200 and spreads of 2 to 4 pips when trading the major currencies. Plus, they get free daily and weekly market reviews.

Standard account

This account requires a minimum deposit of $ 1,000. In addition to that, traders can enjoy tight spreads of 2 pips and a leverage of 1: 200. Once you open an account, you are offered one risk-free trade and free webinars.

Executive account

To open this account, a trader needs to deposit $ 5,000. Clients can sign up for free webinars for technical and fundamental analysis. The account is accompanied by a VIP CMT debit card and two risk-free trades.

Gold account

This account requires an opening balance of $25,000 and comes with competitive spreads. Besides that, traders are offered free webinars to learn more about the technical and fundamental analysis. The gold account comes with 2 trading strategies and 3 risk-free trades.

All these accounts come with a separate demo account where beginners can learn the basics before opening a live account.

Deposit and withdrawal options

A trader can withdraw or deposit funds using Skrill, credit/debit cards, CashU, NETELLER, and bank wire transfers. All withdraws are executed within 24 hours after all your documents are verified.

Trading materials

CM trading offers free education materials like eBook, webinars, and training videos.


The broker gives generous bonuses. When you deposit any amount above $500, you get 20% bonus. This means that traders can have more capital to execute more significant trades. The promotions are updated from time-to-time.



This is one of the brokers who issue their own debit cards to their clients.


Traders can contact their customer representatives via email, live chat or telephone numbers. Their services are available 24/7 for both local and international clients.


For security purposes, the broker uses the latest 256-bit SSL encryption technology to ensure personal data is not compromised by hackers.


Once you open an account, you are allocated a personal account manager to guide you throughout your trading career.


Beginners can use the system to copy other professional traders.


This ensures funds cannot be used for any other purpose other than trading



Unlike other brokers, CM trading is yet to offer unlimited leverage. This is the current trend in the forex market.


CM trading is arguably one of the most reliable online forex brokers. It offers competitive spreads, guaranteed stops, and negative balance protection. Over the years, the company has continued to build a good reputation by providing its clients with the best trading tools to maximize profits. 

IQ Options: Are there alternatives?

IQ Options have made its name when trading binary options, forex, and the like especially with its mobile app now up and running. However, there could be better alternatives for investors as well.


● TradeKing

TradeKing is considered to be one the youngest companies as it was founded in the U.S. back in 2005. They had offices in Florida and North Carolina until they were recently acquired by Ally Financial last year, 2016. Their forex broker featured tools that helped users be aware of potential risks when making trades. In fact, it had a wide selection of technical indicators and had over 50 currency pairs even including a few rare currencies. For first timers, TradeKing has instructional videos and guides. Commissions are not made when users make trades which is great, but the spreads are usually high. The overall interface will also take some time for anyone to get used to it. Note also, that opening would cost a minimum deposit of $2,500.


Like TradeKing, no commissions are made when users trade with and only requires $250 to open an account which is the lowest compared to any broker. They also have 50 currency pairs but also has 50 technical indicators allowing users to even more meticulously plan out their strategy. The spreads are of average but can always get volatile. would also be a good choice for mobile users with them being available as an app as well. A big downfall, however, for both the app and website is in their charting. Users have very limited options when adjusting or manipulating data. These limited options are not even available on their mobile app.


Founded only 6 years before TradeKing, FXCM has recently been the subject of criticism in the industry with the parent company, Global Brokerage Inc., undergoing some financial issues and may take a long while to resolve. Putting that aside, for now, FXCM is pretty much straightforward. Their platform is easily customizable and has generally low spreads. They offer a mini account with a minimum deposit of $50 which could become standard once depositing at least $2,000. A demo account is available for those who also want to try them out first before actually depositing. The only downside to all this is that they have the highest commission when making trades.

● Interactive Brokers

US company Interactive Broker has been active for nearly 40 years now and has definitely built its reputation over the years as it is now arguably considered as the leading forex broker today. On the platform side of things, Interactive Brokers has a whopping 90 technical indicators. This makes it the best for the more experienced investor. Its platform is surprisingly easy to use and customize plus they offer competitive pricing as well. Aside from forex, users can even trade stocks, bonds, options, and futures. This almost seems too perfect to be true. That is because, for anyone to open an account, they will need to deposit a minimum of $10,000 which is by far the highest among other companies.

● Thinkorswim

Nearly as old as Interactive Brokers by being only 4 years younger, think or swim has topped many of the broker rankings with Interactive Broker being somewhat its rival. It has over 100 branches all over the country. Users can trade a total of 120 currency pairs which is by far the highest compared to others and can also trade stocks, options, and futures. Their platform has undoubtedly the widest range of trading tools and customization similar to Interactive Brokers. However, unlike them, users only need to $2,000 to open the account. Possibly the only downside to think or swim is that it is more expensive to do trading. 

eToro Broker Reviewed!

Investing does not have to be hard. If you have money you can lose, eToro can be a great solution for you. We will be talking a little bit about the things this trading platform can do for you so you can make your money grow safely at all times. So read on if you want to find out more about this opportunity that might change your life if you know what you are doing.

Who is behind this Broker?

Etoro gets its brokering services from eToro Ltd. This is registered CIF or Cypriot Investment Firm. The registration number of this company is HE20058. So you can use this number to find more information about them online if you want to. The CySEC regulates the operations of this Forex broker under a famous license, the 109/10. The FCA regulates the activities of Etoro in the United Kingdom. The firm`s reference number is 583263. Both eToro LTd. in Europe and eToro Ltd. in the UK both comply with and operate under the famous MiFID.


- What sort of trading do they offer? EToro offers what is called social trading. In this type of trading, you will be following what others are doing. if they are doing well, you can copy their strategies in no time so you can have fun right away. - What trading platforms are available/supported? You will not be using Meta Trader4 with eToro and instead, you will harness the power of the famous eToro OpenBook. This app is not about indicators and charts but about portfolio statistics. You will also get tons of trading signals from the famous Social Alerts. - What type of accounts are available? You can get a free and a paid account.- Deposit and withdrawal options? The minimum deposit is $50. You can fund your account even with PayPal. But you can also use MoneyBookers, credit cards, Neteller and Webmoney. A wire transfer can also be used, but you will have to make a minimum deposit of $500.- Do they offer free signals? Bonuses? Other special features? EToro does not seem to offer free signals, but you can get a weekly update about Forex for free. You will get a $100,000 free virtual account upon signing up.

- You will manage to invest in a wide array of sexy things such as Ripple, Ethereum and Bitcoin.- This is the smart investment vehicle that you need to get today.


- You might not have the money to make the minimum payment.
What are the advantages and disadvantages of this broker?
One of the advantages of eToro is its easy-to-use trading platform. One of the disadvantages is that you might not have the money to make the $50 minimum payment.


Etoro is very well regulated. This investment platform has been around for a long time, and they are also very well regulated. You can easily find information about them online, and they seem to be doing the trading job pretty well. Remember that you can use eToro to follow other traders so you can get what you need in no time. This trading platform is here to stay for a long time.