XM Market Limited is a forex broker whose official website domain was registered on September 21, 2023. It primarily offers investors trading services in financial derivatives such as forex, stocks, futures, energy, precious metals, and cryptocurrencies. This broker does not provide services to jurisdictions where doing so may violate local laws or regulations.
Company Registration Information and Regulatory Status:
Public information on the official website of XM Market Limited indicates that its headquarters are located in London, with direct branches in the United States, Canada, and Sydney, Australia. The broker is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Financial Services Agency (FSA) in Japan, and the National Futures Association (NFA) in the USA, with respective license numbers being FCA ID: 504072, AFSL: 406684, FSA ID: 2010401081157, NFA ID: 0558860.
Upon verification, the FCA's official website reveals that FCA ID: 504072 corresponds to the business entity AVA Trade EU Limited, ASIC's official website shows that AFSL: 406684 pertains to AVA CAPITAL MARKETS AUSTRALIA PTY LTD, FSA's website denotes that FSA ID: 2010401081157 is linked to Ava Trade Japan K.K., and NFA's website identifies NFA ID: 0558860 as associated with OBV MARKETS LLC. All these registered entities are branches of the well-known broker AVA Trade and have no relation to XM Market Limited.
Additionally, the web page design and content of this broker's official website are identical to those of the brokers Dukascopy Trade MT5, FUNDING, HCJT GROUP, KFCP, XZDL GLOBAL, Ylehub FX, and others.
Account Opening:
To open an account with XM Market Limited, go to the broker's official website, click on "Register" either on the homepage or at the top right corner of the page, enter your personal email address, set a login password, and submit. Upon submitting the application, the account will be successfully registered.
Trading Account Information:
The official website of XM Market Limited only discloses information about spreads, trading leverage, margin call/stop-out levels, and contract sizes. Details such as account types, trading commissions, minimum/maximum transaction volumes, maximum open orders/positions, and minimum price precision are not disclosed.
Spread: Variable, starting from 1 pip
Trading Leverage: 1:100 to 1:500
Margin Call/Stop-out Levels: 100% / 50%
Contract Size: 1 lot = 100,000 currency units
Trading Platform:
XM Market Limited claims to offer the MT5 trading platform, but no download link is provided on its official website, and no information about this broker can be found on MT5.
Deposits and Withdrawals:
XM Market Limited does not clearly disclose the supported deposit and withdrawal methods, fees, or the minimum amount for transactions on its official website.
Conclusion:
Traderknows reminds investors that XM Market Limited is a clone website with unclear corporate registration information and lacks effective regulation. The website can only be contacted via email, with very limited contact options. Its official website's design and content use the same template as those of Dukascopy Trade MT5, FUNDING, HCJT GROUP, KFCP, XZDL GLOBAL, Ylehub FX, and other broker websites. Traderknows advises investors to choose brokers that are transparent about their information, strongly regulated, and have a good reputation for investment trading activities, to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected scam" on Traderknows.
