| Min. Deposit | 5 USD |
| Regulator | CySEC, ASIC, and FSC |
| Trading Desk | Market Maker |
| Trading Cost | 16 USD |
| Website Language | English, Malay, Chinese, Hungarian, Russian, Indonesian, French, Italian, German, Polish, Arabic, Spanish, Portuguese, Vietnamese, Thailand. |
| Support Language | English, Malay, Chinese, Russian, French, Italian, Spanish, Portuguese, Polish, Arabic. |
| Malaysian Client Support | Yes |
| Malaysia Local Bank Deposit | Yes |
| Bonus | 30 USD Bonus Deposit |
XM Malaysia is one of the top Forex brokers in financial markets, especially in Malaysia. They offer a wide range of services and products to help traders achieve their financial goals. XM has a strong reputation for providing quality customer service, and they are always looking for ways to improve their offerings. In this XM Malaysia review, we will take a look at all that they have to offer, and see why they are one of the top Forex brokers in Malaysia!
Pros
- Offer four real accounts.
- The deposit minimum starts from 5 USD.
- Regulated broker.
Cons
- Dealing desk
What is XM Malaysia
XM is a trading name of Trading Point Holdings Ltd. is a forex broker that has been around since 2009. They are one of the top forex brokers in Malaysia and offer a variety of services to their clients. XM is a member of the XM Group, which is a global forex broker with over five million clients from 190 countries.
XM forex broker has won numerous awards, including the “Best Customer Service” award from the World Finance Magazine in 2017, Best Affiliate Program by Smart Vision Investment Expo Egypt 2021, Best FX Educational Broker in the MENA region by Dubai Expo Awards 2021, and more.
XM forex broker offers its clients a wide range of tradable instruments, including forex, precious metals, energies, equity indices, and cryptocurrencies. The company also provides negative balance protection to all its clients, which means that you will never lose more than your account balance. XM is therefore an ideal broker for both beginner and expert traders.
| Account Information | |
| Base Currencies | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
| Number of FX Pairs | 57 |
| Copy Trading | Yes |
| Hedging Allowed | Yes |
| Scalping Allowed | Yes |
| Islamic Account | Yes |
| Trading Conditions | |
| Account Name | Micro, Standard, Ultra Low, Shares. |
| Min. Spread | 0.60 pips |
| Commission | 7 USD |
| EUR/USD | 0.80 pips |
| GBP/USD | 1.10 pips |
| USD/JPY | 0.80 pips |
| Max. Leverage | 888:1 |
| Company Details | |
| Company Name | XM Global |
| Founded | 2009 |
| Website | www.xmfxbroker.com |
| Office Locations | Cyprus, Australia, Belize |
| Support Email | support@xm.com |
Is XM Group Safe?
XM Group is one of the largest forex brokers in the world, and as such, it’s no surprise that many traders are concerned about the safety of their funds. XM has a long history of being a reliable and trustworthy broker, and it has always been committed to safeguarding the interests of its clients.
The first entity of the XM group was established in 2009 in Cyprus and regulated by the Cyprus Securities and Exchanges Commission (CySEC) license number 120/10 under Trading Point of Financial Instruments Ltd. In 2015, the group establish its entity in Sydney Australia regulated by the Australian Securities and Investments Commission (ASIC) license number 443670. Recently, XM Group established XM Global Limited in 2017 in Belize regulated by the FSC, with license number 60/354/TS/18.
So, if you’re looking for a safe and reliable forex broker to trade within Malaysia, XM is a great choice.
Trading Fees
XM forex broker offers a variety of trading fees for its clients. The company has a sliding scale fee structure, which means that the more you trade, the lower your trading fees will be. XM also offers a commission-free policy on all its Islamic accounts. There is no minimum deposit requirement, and XM does not charge any hidden or monthly fees.
Overall, XM is a very competitive forex broker in terms of trading fees. The company offers low costs for both novice and experienced traders alike. There are no monthly or hidden fees, and XM provides a commission-free policy on all its Islamic accounts. This makes XM an excellent choice for Malaysian forex traders.
I will explain briefly about the XM trading fee below:
Swap Fees
Most XM customers are required to pay a swap fee of 0.5-1% on their total trading volume. However, XM does offer an XM Swap-Free Plan for XM account holders with a monthly trading volume of more than 100k USD. This plan eliminates the need for traders to pay any swap transaction fees, and also offers lower spreads on some Forex instruments.
| Account Type | Minimum Deposit | Average Spread EUR/USD | Commission | Total Cost (Per 1 Lot) |
| Micro Account | 5 USD | 1.7 pips | None | 17 USD |
| Standard Account | 5 USD | 1.7 pips | None | 17 USD |
| Ultra Low Standard Account | 5 USD | 0.8 pips | None | 8 USD |
| Ultra Low Micro Account | 5 USD | 0.8 pips | None | 8 USD |
Deposit and Withdrawal
XM forex broker provides a variety of deposit and withdrawal methods for its clients. The deposit methods include credit/debit cards, bank wire transfers, Skrill, and Neteller. The withdrawal methods include the same as the deposit methods, with the exception of credit/debit cards. XM processes all deposits and withdrawals within 24 hours. XM does not charge any fees for deposits or withdrawals.
To make a deposit, log in to your XM account and click on the “Deposit” tab. Select the deposit method you would like to use and enter the amount you would like to deposit.
To withdraw money, XM clients can log into their Members Area, click on “Withdrawal” and then follow the instructions. Withdrawals are processed within 24 hours from the time of the request.
Bonus and Promotions
XM forex broker provides its clients with a wide range of trading bonuses and promotions, which are tailored to meet the needs of both new and experienced traders. These bonuses include a welcome bonus, deposit bonus, and rebates. In addition, XM also offers a number of Trading Contests with attractive prizes for the winners.
Some of the bonuses that are available now are the 30 USD Trading Bonus and 50% Deposit Bonus up to $500. Overall, XM is the top forex broker in Malaysia for its wide range of bonuses and promotions.
Trading Platforms
XM forex broker offers a wide variety of trading platforms to its clients. These platforms include the XM WebTrader, XM MT4, XM MT-Mobile, XM MacTrader, and the XM iPhone Trader.
The XM WebTrader is a web-based platform that is accessible from any internet-connected device. The XM MT-Mobile is a mobile trading platform that is compatible with Android and iOS devices. The XM MacTrader is a trading platform designed specifically for Apple Mac computers. The XM iPhone Trader is a mobile trading platform that is compatible with iPhone and iPad devices.
Each of these platforms has its own unique features and benefits. For example, the XM WebTrader provides a user-friendly interface that is easy to navigate. The XM MT-Mobile provides a mobile trading experience that is convenient for traders on the go. The XM MacTrader provides traders with powerful tools and features that are not available on the other platforms.
Each of these trading platforms is fully customizable, so traders can configure them to meet their unique trading needs.
Trading Tools
XM forex broker provides a variety of trading tools to their clients, which can be very helpful in making informed and successful trades. Some of these tools include:
- Economic Calendar: This tool helps traders keep track of upcoming economic events that could impact the markets.
- Technical Analysis: XM offers extensive technical analysis resources on their website, including charting tools and indicators.
- Market News: XM provides up-to-date market news and analysis to help traders make informed decisions.
- MQL5: MQL5 is a language that helps you create programs to trade automatically in the Forex market.
Overall, XM forex broker is a very comprehensive forex broker that provides traders with everything they need to succeed. If you’re looking for a reputable and reliable forex broker in Malaysia, XM is a great choice.
Financial Instruments
XM forex broker offers a wide variety of financial instruments that traders can use to execute their trades. These include forex, commodities, stocks, indices, and ETFs. XM also offers a variety of account types, each with its own set of features and benefits.
Forex – XM is the top forex broker in Malaysia, offering traders access to over 55 currency pairs, including majors, minors, and exotics. XM’s forex spreads are among the lowest in the industry, making it possible for traders to get started with minimal investment.
Commodities – XM offers traders access to the most liquid and important commodity markets in the world. These include COCOA, COFFE, and CORN. XM offers traders competitive spreads, fast execution, and 24/five customer service.
Stock CFDs – XM offers CFDs on stocks from some of the world’s largest stock exchanges, including the NASDAQ, and London Stock Exchange. XM’s stock CFDs are based on real-time prices and offer traders a high degree of liquidity and tight spreads.
Equity Indices – XM offers Equity Indices which are a collection of stocks from different companies. The XM Equity Indexes cover different parts of the world, including Asia, Europe, and America.
Energies – The XM energies instrument is a way to trade energy commodities. XM energy XM offers a variety of energies including natural gas, heating oil, and Brent crude oil.
Precious Metals – XM also offers precious metals as an instrument for trading. XM provides clients with the ability to trade gold and silver. The leverage is up to 1:888.
Shares – XM offers share trading starting from just 0.01 lots, and our clients can trade CFDs on shares of some of the world’s biggest publicly-listed companies including Facebook, Amazon, Google, and Coca-Cola.
Cryptocurrencies – XM also offers Cryptocurrencies. XM Cryptocurrencies include Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. These are all major cryptocurrencies that are traded on many different exchanges.
| Financial Instrument | Number of Assets | Max. Leverage |
| Commodities | 10 | 1:50 |
| Energies | 5 | 1:67 |
| Stock CFDs | 1,291 | 1:10 |
| Forex | 57 | 1:888 |
| Indices | 14 | 1:200 |
Education & Research
XM is a forex broker that has a number of services to offer investors and traders. XM offers education and research to help traders be successful in the forex market. XM also has a commitment to providing top-quality customer service. XM has a wide range of account types and products that make it a top choice for forex trading in Malaysia.
XM offers a variety of educational resources, including webinars, video tutorials, e-books, and more. XM also has a demo account that allows new traders to practice trading with virtual money before investing real money. XM is committed to helping traders succeed in the forex market and provides the tools and resources needed to do so.
Customer Support
XM forex Malaysia offers an excellent customer support team through its xm live chat, telephone, and email channels. XM’s customer support is available in multiple languages including Bahasa Melayu and Bahasa English, making it easy for traders from all parts of the world to get assistance, especially for Malaysian clients. The customer support department is available 24/5. M also has an extensive FAQ section on its website that covers a wide range of topics related to forex trading.
I contacted the XM forex Malaysia team on a few occasions for clarification on some of the trading features and received quick, helpful responses. Overall, I was very pleased with XM Malaysia’s customer service.
XM Account Types
XM offers a variety of types of trading accounts to suit the needs of different traders. These trading accounts are Micro and Standard Accounts, XM Ultra Low Account, and Shared Account.
Micro Account
This is XM’s entry-level account suitable for beginner traders. The minimum deposit for this account is $ 5. You can trade with a micro lot, which is 1000 units of the base currency. This account gives you access to XM’s platforms and over 50 financial instruments.
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
- Contract Size: 1 Lot = 1,000
- Leverage: 1:1 to 1:888 ($5 – $20,000)1:1 to 1:200 ($20,001 – $100,000)1:1 to 1:100 ($100,001 +)
- Negative balance protection: Yes
- Spread on all majors: As Low as 1 Pip
- Commission: No
- Maximum open/pending orders per client: 300 Positions
- Minimum trade volume: 0.1 Lots (MT4)
- 0.1 Lots (MT5)
- Lot restriction per ticket: 100 Lots
- Hedging allowed: Yes
- Islamic Account: Optional
- Minimum Deposit: 5$
Standard Account
The standard trading account is XM’s most popular account. The Standard account minimum deposit for this account is the same as the Micro Account, $ 5. You can trade with a standard lot, which is 100,000 units of the base currency. This account gives you access to XM’s platforms and over 50 financial instruments.
- Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
- Contract Size: 1 Lot = 100,000
- Leverage: 1:1 to 1:888 ($5 – $20,000)1:1 to 1:200 ($20,001 – $100,000)1:1 to 1:100 ($100,001 +)
- Negative balance protection: Yes
- Spread on all majors: As Low as 1 Pip
- Commission: No
- Maximum open/pending orders per client: 300 Positions
- Minimum trade volume: 0.01 Lots
- Lot restriction per ticket: 50 Lots
- Hedging allowed: Yes
- Islamic Account: Optional
- Minimum Deposit: 5$
XM Ultra Low Account
XM provides an Ultra Low account, which is designed for traders who want to trade with ultra low spreads. The XM Ultra Low account has a fixed spread of 0.6 pips on all majors and no commission charges. The XM Ultra Low account is perfect for new traders who are looking to trade with low risk, and for experienced traders who want to trade with tighter spreads. The minimum deposit for this account is $ 5 and leverage up to 1:888.
- Base Currency Options: EUR, USD, GBP, AUD, ZAR, SGD
- Contract Size: Standard Ultra: 1 Lot = 100,000
- Micro Ultra: 1 Lot = 1,000
- Leverage: 1:1 to 1:888 ($5 – $20,000)1:1 to 1:200 ($20,001 – $100,000)1:1 to 1:100 ($100,001 +)
- Negative balance protection: Yes
- Spread on all majors: As Low as 0.6 Pips
- Commission: No
- Maximum open/pending orders per client: 300 Positions
- Minimum trade volume: Standard Ultra: 0.01 Lots
- Micro Ultra: 0.1 Lots
- Lot restriction per ticket: Standard Ultra: 50 Lots
- Micro Ultra: 100 Lots
- Hedging allowed: Yes
- Islamic Account: Optional
- Minimum Deposit: 5$
Shares Account
XM’s Shares Account is perfect for those who want to invest in the markets without having to worry about the risks that are associated with it. XM’s Share Account offers a way for you to invest in a portfolio of shares. This gives you the benefit of being able to diversify your investment.
This account type requires a minimum deposit of $10,000 and will allow you to trade Shares. If you wish to open a multi-asset account with which you can trade all asset classes, including Forex and CFDs on Commodities, Indices, and Stocks, then please select one of the other MT5 account types instead.
- Base Currency Options: USD
- Contract Size: 1 share
- Leverage: No Leverage
- Negative balance protection: Yes
- Spread: As per the underlying exchange
- Commission: Yes
- Maximum open/pending orders per client: 50 Positions
- Minimum trade volume: 1 Lot
- Lot restriction per ticket: Depending on each share
- Hedging allowed: No
- Islamic Account: Yes
- Minimum Deposit: 10,000$
Islamic Account
XM offers an Islamic account that complies with the religious beliefs of its clients. The account follows the principles of Sharia law and does not involve any interest or speculative practices. XM is the only forex broker in Malaysia to offer an Islamic account.
The XM Islamic account features:
- No interest/swap charges on overnight positions
- No spread widening
- Positions can be held with no time limit
- Maximum leverage 888:1
- 100% real-time market execution
- Same trading conditions as for our trading account types
- Free and instant access to all trading platforms
- 24/5 dedicated support from your Client Account Manager
To open an XM Islamic account, simply:
- Click the button above to register and open a live account with XM.
- Verify your account by submitting your supporting document. For proof of identity, you can submit a copy of your Identity Card, Passport, and proof of residential address like electric bill, bank statement, and driving liecense.
- Send an email to support@xm.com requesting to have your account switched to an Islamic one. XM will then credit any swap charged on your account until that point.
Once the XM Islamic account is active, all positions held open at XM at 00:00 server time (GMT+0) will be rolled over to the next month. XM Islamic accounts are available in USD, EUR, GBP, JPY, CHF, and AUD. XM also offers a Muslim Friendly Debit Card with a 0% commission on card transactions.
How to get started with XM Malaysia
To get started with XM Malaysia, you will need to open an account and deposit some funds. Once your account is funded, you can start trading. The process is straightforward and easy to follow. Once your account is funded, you can start trading.
Why Malaysian traders should consider using XM.
XM is a good place for Malaysian traders to do their trading. Malaysian traders can trade in multiple currency pairs, and they have access to a variety of trading tools. In addition, XM offers excellent customer service. Malaysian traders should consider using XM as their preferred broker.
XM is also a regulated broker, which means that your funds are safe and secure. The company is registered with the Financial Conduct Authority (FCA) in the United Kingdom.
What is the advantage and disadvantage of XM?
Advantage
- XM has over 10 years of experience, offers the best service and trading conditions.
- $30 Welcome Bonus, 50% + 20% Deposit Bonus
- XM wins several awards one of them is Best Trading Experience Awarded by Ultimate Fintech 2021 and Best Forex Customer Service, Awarded by Shares Magazine, UK Forex Awards 2018
- XM Malaysia provides 24/5 customer support and online education courses
- XM offers a wide range of trading instruments, including stock indices, commodities, currencies pairs.
- XM is available on both desktop and mobile devices.
- All trading strategies are also allowed in all the accounts.
Disadvantage
- It can be expensive to use XM
Conclusion
XM Malaysia is a top forex broker in Malaysia. XM has many years of experience and provides excellent customer service. XM offers a wide range of trading instruments and is available on both desktop and mobile devices. However, it can be expensive to use XM. Overall, XM is a great choice for forex traders in Malaysia.