XM Forex Malaysia

XM Malaysia Review

Since its inception in 2009, XM has attracted over 10,000,000 clients, evolving into a large, reputable global investment firm and establishing itself as an industry leader. Currently, XM comprises a team of more than 900 seasoned professionals in the finance sector. Their vast experience, coupled with support in over 30 languages, positions XM as the preferred broker for traders of all skill levels, globally. Their expertise and resources empower them to assist everyone in achieving their investment objectives, a service only a major broker like them can offer.

XM Malaysia offering users the ability to trade in a vast array of financial instruments. The platform is lauded by many Malaysian traders for its user-friendly interface, robust security measures, and comprehensive educational resources. Users have the opportunity to trade in over 1,000 instruments across several asset classes, including forex, stock indices, commodities, and equity shares. XM Forex Malaysia also provides a variety of account types to cater to different trading styles and levels of experience. The platform has a strong reputation for its excellent customer service and is known for its competitive spreads and leverage. Overall, XM is well-regarded in Malaysia for its reliability, flexibility, and comprehensive suite of trading tools.

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XM Account Types

  • Micro Account: This account type is suitable for beginners and small traders. It requires a minimum deposit of $5 and offers flexible leverage ranging from 1:1 to 1:1000. The spread on all major currency pairs is as low as 1 pip. It also allows trading with micro lots and offers the same tight spreads as all other account types.
  • Standard Account: The Standard Account requires a minimum deposit of $5. It offers the same benefits as the Micro Account but with standard trading conditions. Traders can trade with standard lots and enjoy spreads starting from 1 pip. The leverage ranges from 1:1 to 1:1000.
  • XM Ultra Low Account: This account offers ultra-low spreads, starting from 0.6 pips, and a minimum deposit of $5. It provides the same flexible leverage from 1:1 to 1:1000. The main difference is that it doesn’t have any commission or requotes.
  • Shares Account: The Shares Account is designed for traders who want to trade with individual share CFDs. It requires a minimum deposit of $10,000 and no leverage. The spreads are as per the underlying market plus mark-up. The main advantage of this account is that it provides direct access to more than 1200 individual shares.
XM Forex Broker Malaysia

XM demo account

The XM Forex Demo Account is a virtual trading platform provided by XM, a globally recognized forex broker. This demo account serves as a practical learning tool for novice traders who want to familiarize themselves with the dynamics of the forex market without risking real money. It allows users to simulate trading strategies, understand market trends, and gain confidence before transitioning to a live trading environment. The account comes with a virtual balance that can be used for trading various currency pairs and other financial instruments. It also offers access to real-time market prices and advanced trading tools, providing a realistic trading experience. Create your XM forex login in XM official website to access the demo account.

    XM Forex Islamic Account in Malaysia

    The XM Forex Islamic Account in Malaysia is a unique offering tailored to meet the needs of Muslim traders who want to engage in forex trading while adhering to the principles of Islamic finance. These accounts are also known as swap-free accounts as they do not involve any swap or rollover interest on overnight positions, which is against the Islamic faith. XM, a globally recognized forex broker, ensures that these accounts are in full compliance with Sharia law. The Islamic account offers the same trading conditions as the standard XM trading accounts, but without any additional charges or fees. This makes it an attractive option for Muslim traders in Malaysia looking to invest in the forex market while respecting their religious beliefs.

      Tradeable Assets

      XM Instruments in Malaysia
      • Forex: XM offers forex trading with more than 55 currency pairs to trade, including all the major currencies such as USD, EUR, GBP, and JPY. This allows traders to speculate on the price movements of these currencies.
      • Cryptocurrencies: XM also allows trading in popular digital currencies such as Bitcoin, Ethereum, Litecoin, and Ripple. This opens up opportunities for investors to profit from the volatile cryptocurrency market.
      • Stock CFDs: Contract for Differences (CFDs) trading on stocks allows traders to speculate on the rising or falling prices of the globally recognized stocks without owning the actual stocks. This includes stocks from popular markets such as NASDAQ, NYSE, and more.
      • Turbo Stocks: The platform offers Turbo Stocks that are essentially a type of short-term derivative product. They allow traders to speculate on the underlying stock’s price movements within a short-term period.
      • Commodities: XM traders can trade commodities such as oil, gold, silver, cotton, and other agricultural products. This enables traders to diversify their portfolios and hedge against market risks.
      • Equity Indices: Traders on XM can speculate on the price movements of equity indices such as Dow Jones, S&P 500, NASDAQ, and others. This allows traders to gain broad market exposure.
      • Precious Metals: Trading in precious metals like gold, silver, platinum, and palladium is also available on XM. These assets are often seen as safe havens during times of economic instability.
      • Energies: The broker offers trading in energy commodities like crude oil, natural gas, heating oil, and gasoline. These markets are influenced by global economic and political events, offering plenty of trading opportunities.
      • Shares: XM offers trading in shares of popular companies, allowing traders to speculate on the price movements of these individual stocks.

      XM Malaysia Trading Platforms

      • XM MT4: MetaTrader 4, commonly known as MT4, is a widely used electronic trading platform for retail foreign exchange, developed by the Russian software company MetaQuotes Software Corp. XM forex MT4 for PC is tailored for users who prefer trading on their computers. It provides advanced technical analysis, a flexible trading system, and algorithmic trading tools. The XM MT4 mobile version is designed for traders who are constantly on the move and prefer to manage their trades from their mobile devices or tablets. It offers the same functionality as the PC version, including full trading capabilities, charting tools, and technical analysis features.
      • XM MT5: MetaTrader 5 (MT5) is the next generation platform from the makers of MT4. It offers more features and capabilities than its predecessor, including more technical indicators, a new scripting language, and a more flexible approach to automated trading. XM MT5 for PC is designed for users who prefer this upgraded version. Similar to the MT4 mobile version, the XM MT5 platform is for traders who prefer to use their mobile devices or tablets for their trading activities. It offers the same advanced functionalities as the PC version of MT5.
      • XM App: The XM App is a proprietary mobile application developed by XM broker for its clients. It provides an intuitive, user-friendly interface and allows users to manage their trading accounts, access live quotes, perform technical analysis, place trades, and manage their risk levels.
      • XM Web Platform: This is a web-based trading platform, meaning it can be accessed directly from a web browser without the need to download or install any software. It offers full trading functionalities and is perfect for traders who prefer to trade from different devices or locations.
      XM Trading App Malaysia

      XM Eclusive Technical Indicators

      • Ribbon Indicator: This is a technical analysis tool that uses a series of moving averages to generate trading signals. It provides a visual representation of the market’s trend and volatility. The Ribbon Indicator consists of multiple lines that move in tandem, forming a “ribbon” effect. They can help to identify potential buy and sell opportunities, as well as possible trend reversals.
      • River Indicator: This is another technical analysis tool that uses moving averages but presents them in a different visual manner. It is often used to identify potential entry and exit points for trades. The River Indicator can provide a clearer visualization of market trends and price patterns.
      • Ichimoku Indicator: This is a comprehensive indicator providing insights about support and resistance levels, directional trend, and momentum. It is often used in combination with other indicators to confirm market trends and potential reversal points. The Ichimoku Indicator includes five lines: Tenkan-sen, Kijun-sen, Senkou Span A, Senkou Span B, and Chikou Span.
      • Bollinger Bands: This is a volatility indicator that uses a set of three lines: the middle line is a simple moving average, and the two outer lines are standard deviations of the price. When the market is volatile, the bands widen; when the market is calm, they contract. Traders often use Bollinger Bands to identify overbought and oversold conditions.
      • ADX and PSAR Indicator: The Average Directional Index (ADX) measures the strength of a trend, while the Parabolic Stop and Reverse (PSAR) provides entry and exit points. When used together, they can provide a more comprehensive view of market trends and potential trading opportunities.
      • Analyser Indicator: This is a proprietary indicator by XM. It is used to analyze various market conditions and identify potential trading opportunities. It combines several technical analysis tools to provide a comprehensive view of the market.

      XM Deposit Options in Malaysia

      XM is a well-known forex broker that provides multiple deposit options for Malaysian traders. Here are some of the deposit methods available:

      • Credit/Debit Card: One of the most popular and convenient methods to deposit funds into your XM account. It accepts all major cards such as Visa, MasterCard, and Maestro.
      • Bank Wire Transfer: You can directly transfer funds from your bank account to your XM trading account. However, it may take several days for the funds to reflect in your trading account.
      • E-Wallets: XM also accepts various e-wallets for depositing funds. These include Skrill, Neteller, and MuchBetter. These methods are quick and usually free of charge.
      • Local Bank Transfer: XM also allows Malaysian traders to transfer funds using local Malaysian banks. This method is usually quicker than international bank wire transfers.
      • Online Banking: XM also supports online banking methods, providing an easy and quick way for traders to deposit funds into their account.
      • Cryptocurrencies: Some locations may also have the option to deposit using cryptocurrencies such as Bitcoin.

      Before choosing a deposit method, it’s important to check if there are any fees associated with the transaction. Also, the time it takes for the deposit to reflect in your XM account can vary depending on the method chosen. The XM forex minimum deposit amount is $5, while the Shares Account requires $10,000. Always ensure to check these details on the XM website or by contacting their customer support.

      XM Withdrawal Options in Malaysia

      XM Forex Broker is a popular platform among traders in Malaysia. If you’re looking to withdraw your funds, here are the options available for you, along with the expected processing times:

      • Credit Card/Debit Card: This is one of the most common withdrawal methods. It’s convenient and usually takes about 3-5 business days to process.
      • Bank Wire Transfer: If you prefer to have your funds directly in your bank account, this is a good option. However, it takes a bit longer, with a processing time of 5-7 business days.
      • E-Wallets: XM also supports withdrawal through various e-wallets like Neteller, Skrill, and WebMoney. These withdrawals are usually processed within 24 hours.
      • Local Bank Transfer: XM also supports local bank transfer for Malaysian traders. This method is quite fast and usually takes about 2-3 business days.

      The XM minimum withdrawal amount for Shares Account is $10,000, while the rest of the account types is $5. Please note that the processing times mentioned above can vary based on several factors such as the withdrawal amount, the method chosen, and the bank’s processing times. Also, there might be some fees associated with different withdrawal methods, so it’s recommended to check the details on the XM website or contact their customer support for more accurate information.

      Trading Conditions

      • Execution Policy: XM in Malaysia operates under a strict execution policy aimed at ensuring that all trades are executed promptly and fairly. This policy includes guidelines for order execution, order handling, and order routing. It is specifically designed to provide the best possible results for clients’ orders. 
      • Spreads: The spread is the difference between the buying and selling price of a financial instrument. XM in Malaysia offers competitive spreads on a range of different instruments, including Forex, commodities, and indices. This ensures that clients can trade with minimal costs and potentially maximize their profits.
      • Margin and Leverage: Margin is the initial deposit required to open a position, while leverage involves borrowing a certain amount of the money needed to invest in something. XM in Malaysia provides flexible leverage options, allowing traders to choose the level of risk they are comfortable with. This can potentially increase their purchasing power and enhance their trading opportunities.
      • Overnight Positions: An overnight position is a trade that is still open at the end of the trading day and is automatically rolled over to the next day. XM forex broker Malaysia charges or credits a certain amount for these positions, depending on the direction of the trade and the interest rate differential between the two currencies involved. This is known as the overnight or swap rate.
      • Trading Hours: XM Malaysia operates 24 hours a day, five days a week. This allows clients to trade whenever it suits them best, providing greater flexibility and convenience. It also means that they can take advantage of global market movements as they happen.

      XM Research and EducaTION

      XM Research and Education is a comprehensive guide for traders to gain insights and knowledge about the various aspects of the financial markets. It includes a number of resources such as:

      • Markets Overview: This section provides a broad view of the financial markets, covering different asset classes like currencies, commodities, indices, and stocks. It helps traders understand the overall market conditions and trends.
      • XM Research: This is a dedicated section where the research team at XM provides in-depth analysis and insights about the financial markets. It includes daily market commentary, technical analysis, and fundamental analysis.
      • Trade Ideas: In this section, traders can access various trade ideas based on the latest market trends and analysis. These ideas can act as a guide for traders to develop their own trading strategies.
      • Technical Summaries: Refers to summaries of technical analysis, which involves studying past market trends to predict future price movements. This can be particularly useful for traders who rely on technical analysis for their trading decisions.
      • Economic Calendar: This is a tool that lists all the important economic events and indicators that can impact the financial markets. It helps traders plan their trading activities and stay updated on significant market-moving events.
      • XM TV:  A video streaming platform where XM hosts live broadcasts and recorded videos about various market topics.
      • Podcast: XM also offers a podcast series where experts discuss various financial topics, market trends, and trading strategies.

      Learning Center

      A comprehensive educational platform that offers various learning resources for traders. It includes trading guides, eBooks, and articles covering various aspects of trading.

      • XM Live: This is a live broadcasting platform where traders can watch live market analysis and trading sessions from XM’s experts.
      • Live Education: Offers live educational webinars where traders can learn about different trading strategies, market analysis techniques, and more.
      • Educational Videos: These are recorded videos that cover a wide range of trading-related topics. They can be particularly helpful for beginner traders who are still learning the ropes.
      • Forex and CFDs Webinars: Live webinars specifically focused on trading forex and Contracts for Difference (CFDs). They cover various topics such as trading strategies, risk management, technical analysis, and more.
      • Platform Tutorials: These are step-by-step guides that help traders understand how to use the trading platform offered by XM. They cover various features and functionalities of the platform.

      Customer Support

      XM Customer Support in Malaysia offers comprehensive assistance to their clients who are involved in online forex trading. They provide a team of proficient customer service representatives who are available 24/7 to cater to all the inquiries and concerns of their clients. XM Customer Support ensures to deliver prompt and efficient solutions to technical issues, account-related concerns, and trading operations. They can be reached through various communication platforms such as phone calls, emails, and live chat. Their high-quality service has gained trust and commendation from their Malaysian clients, making them a reliable choice in the forex trading industry.

      Is XM Forex Broker Legal in Malaysia?

      XM Forex is a globally recognized trading platform that is legally recognized and allowed to operate in Malaysia. XM owns by XM Global Limited, registered by the Financial Services Commission (FSC) under the Securities Industry Act 2021 (license number 000261/397) and Trading Point of Financial Instruments Limited, authorised and regulated by Cyprus Securities and Exchange Commission (CySEC) (licence number 120/10), are members of Trading Point Group.

      In Malaysia, the trading of foreign currencies is managed and supervised by the Central Bank of Malaysia (Bank Negara Malaysia). Although this bank does not directly regulate international forex brokers like XM Forex, it does provide guidelines and regulations that govern forex trading in the country. Therefore, Malaysians are legally permitted to engage in forex trading with XM Forex, as long as they comply with the financial regulations set by the Bank Negara Malaysia.

      XM Forex is legal in Malaysia

      Is XM Forex Halal in Malaysia?

      XM forex trading is considered Halal in Malaysia as it adheres to the principles of Islamic finance. It offers an Islamic account, also known as a swap-free account, where no interest fees or swap charges are applied for overnight positions, in compliance with the Islamic prohibition of Riba (interest). This makes it suitable for Muslim traders in Malaysia who want to engage in forex trading while remaining faithful to their religious beliefs. However, it’s always advisable for individuals to consult with a knowledgeable Islamic scholar or a financial advisor to ensure their trading activities align with Sharia law.

        XM Forex review Malaysia – Conclusion

        In conclusion, XM Forex Malaysia is a reliable and user-friendly platform for forex trading. It offers a wide range of tools and resources, as well as excellent customer service. Its competitive spreads, flexible account types, and robust security measures make it a popular choice among Malaysian forex traders. However, potential users should still do their due diligence and research before investing.

        XM Forex Broker Review