Tpsfxmarkets.com Review Is TpsFXMarkets A Legit Forex Broker

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

XM Group Review

While XM Group provides the entire suite of MetaTrader platforms and over 1300 tradeable instruments, the broker delivers an average experience across the board and struggles to stack up against industry leaders.

  • Founded in 2009, XM Group is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
  • XM Group is a vanilla MetaTrader broker that offers the complete MetaTrader suite, albeit with no notable upgrades to enhance the experience. Also, while XM Group’s research offering is slightly above the industry standard, it is far from challenging industry leaders such as IG and Saxo Bank.
  • Pricing at XM Group varies by account type. Overall, the broker is not a stand out for low-cost trading when compared to pricing leaders such as CMC Markets and IG.

Special Offer:

  • Trade Forex with Ultra Low Spreads Visit Site

Overall Summary

Feature XM Group
Overall 4 Stars
Trust Score 81
Offering of Investments 4 Stars
Commissions & Fees 3.5 Stars
Platform & Tools 3.5 Stars
Research 4 Stars
Mobile Trading 3.5 Stars
Customer Service .1 Stars
Education 4 Stars

Is XM Group Safe?

XM Group is considered averge-risk, with an overall Trust Score of 81 out of 99. XM Group is not publicly-traded and does not operate a bank. XM Group is authorised by two tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). XM Group is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), and the Financial Conduct Authority (FCA). Learn more about Trust Score.

Regulations Comparison

Feature XM Group
Year Founded 2009
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 2
Tier-2 Licenses 1
Tier-3 Licenses 0
Trust Score 81

Offering of Investments

Through its various brands, XM offers traders CFDs on 1200 stocks, 30 indices, eight commodities, four metals, five energies, and 57 forex pairs. Five CFDs on cryptocurrencies are no longer available at the firm’s UK, Australia, Cyprus, and Belize branches. The following table summarizes the different investment products available to XM Group clients.

Feature XM Group
Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs) 57
CFDs – Total Offered 1247
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD No

Commissions & Fees

The commissions and fees at XM Group depend on the type of account. There are mainly three to choose from, including the commission-free Micro and Standard accounts, and the commission-based XM Zero Account. It’s worth noting that there is also a fourth account type, the XM Ultra Low account, but it is not available at all the entities of the Group.

Spreads: In the XM Zero account, average spreads on the EUR/USD stand at 0.1 pips (according to XM Group website data, and not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.

Commissions: Even after including the USD $3.5 per side commission ($7 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 0.8 pips (0.1 spread + 0.7 RT commission), making the XM Zero account the firm’s most competitively priced offering.

Execution method: It is worth noting that XM Group acts as the sole dealer (principal) in all trades it executes and offers no re-quoting across all its account types in terms of the execution method as a market-maker/dealer. This execution method allows XM Group to provide lower spreads during certain market conditions. Accordingly, both account options are useful, depending on clients’ needs.

Feature XM Group
Minimum Initial Deposit $5-100
Average Spread EUR/USD – Standard 1.6 (as of Jan 18)
All-in Cost EUR/USD – Active 0.80
Active Trader or VIP Discounts No

Platforms & Tools

XM Group is a MetaTrader-only broker offering the standard, out-of-the-box experience, including both MT4 and MT5. While there are no notable add-ons to help XM Group stand out, offering the full MetaTrader suite is a crucial distinction among the best MetaTrader brokers.

Feature XM Group
Virtual Trading (Demo) Yes
Proprietary Platform No
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

Research

XM Group’s research offering consists mostly of the content generated by an in-house team of analysts, including daily market recaps and technical and fundamental analysis articles and videos. There is also an economic calendar powered by Investing.com.

Trading signals: In terms of manual trading signals, XM Group offers its trading signals hub to live account holders where users can access signals across ten instruments generated twice daily. Meanwhile, trading signals that can be automated are currently limited to the Signals Market available within the MetaTrader platform. For social copy trading, we found eToro and Pepperstone to have superior offerings.

Technical analysis: XM offers Tradepedia, which provides educational Forex and CFD content including for technical analysis through the use of common indicators, such as Ichimoku and Bollinger Bands. Tradepedia covers beginner and advanced video content.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Video news analysis: XM Group has done an excellent job creating daily forex news videos with market analysis explained in a TV interview-style format.

Feature XM Group
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs Yes
Economic Calendar Yes

Mobile Trading

Since XM Group is a MetaTrader-only broker, the iOS and Android versions of the MT4 and MT5 mobile apps come standard and are both available for download from the Apple iTunes store and Android Play store, respectively.

Feature XM Group
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable No
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave No
Forex Calendar No

Customer Service

For our 2020 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups, and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.

Results

  • Average Connection Time: th (43 brokers)

Final Thoughts

Although XM Group offers over 1300 instruments, including 57 currency pairs, the broker still trails behind brokers who offer thousands of tradeable symbols. In addition, when compared to the other best MetaTrader brokers, XM Group fails to challenge industry leaders who offer more tools and research.

About XM Group

Founded in 2009, the XM brand (XM Group) is a group of online regulated brokers. The Group’s first entity was founded in 2009 in Cyprus (regulated by CySEC under license 120/10) under the name Trading Point of Financial Instruments Ltd. In 2020, the Group established an entity (ASIC-regulated, license number 443670) in Sydney, Australia, and the same year obtained regulatory status in London (FCA-regulated, license number 705428), under Trading Point of Financial Instruments UK Ltd. More recently, XM Global Limited was established in 2020 in Belize (regulated by the IFSC, with license number IFSC/60/354/TS/18).

XM Group Trading Features

Feature XM Group
Virtual Trading (Demo) Yes
Proprietary Platform No
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
cTrader No
Charting – Indicators / Studies (Total) 51
Charting – Drawing Tools (Total) 31
Charting – Trade From Chart Yes
Watchlists – Total Fields 7
Order Type – Trailing Stop Yes

XM Group Research Features

Feature XM Group
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Weekly Webinars Yes
AutoChartist Yes
Trading Central (Recognia) No
Delkos Research No
Social Sentiment – Currency Pairs Yes
Economic Calendar Yes

XM Group Mobile App Features

Feature XM Group
Android App Yes
Apple iOS App Yes
Trading – Forex Yes
Trading – CFDs Yes
Alerts – Basic Fields Yes
Watch List Yes
Watch List Syncing Yes
Charting – Indicators / Studies 30
Charting – Draw Trend Lines Yes
Charting – Trend Lines Moveable No
Charting – Multiple Time Frames Yes
Charting – Drawings Autosave No
Forex Calendar No

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

Tips for Finding a Great Forex Broker

Tips to help you choose the right broker and avoid disaster

As if there wasn’t already enough to learn when trading forex, the forex broker you choose is actually the biggest trade you’ll ever make. You’re giving all your trading capital to that company, with the expectation that you’ll be able to trade with it and withdraw it when it’s time to take your profits.

You may have great forex strategies, but if your broker runs off with your money, all your hard work and research was for nothing. Follow these five in-depth tips on how to find a great forex broker, so you end up with the right broker that meets your needs, without exposing you to any scams.

Consider Your Needs

Before looking at brokers, assess your own needs. Here are some things to consider:

  • Are you going to day trade a lot or a little?
  • Trade very small moves, or capture bigger moves?

If you day trade a lot and capture small moves, consider an ECN broker. You’ll pay a commission on trades but the spreads are much tighter, which matters when trading small moves. Search only for “ECN Forex Brokers.”

If you don’t think you’ll need an ECN broker, then you still have a big pool of potential brokers left.

If you’re going to do “scalp” trading, you’ll need an ECN broker.

How much capital do you have? With a small amount of capital, you have to trade micro-lots. If you have over $5,000 you can start day trading mini lots. Don’t open a standard lot account unless you have at least $50,000.

Choose a broker and account type (lot size) that matches your capital.

When it comes to depositing and withdrawing funds from your account, different brokers offer various methods. Choose a broker that aligns with your needs

What the Broker Should Offer

Now that you know what you want, and have hopefully narrowed the list of potential brokers, look for the following in the brokers you’re still considering.

No “dealing desk.” If you’re a day trader you want to be interacting directly with the market, and not sending your order to a trading desk which then initiates it in the market. That takes too much time, and often results in “re-quotes.” This is when the price has changed since you placed your order, and the broker asks you if you wish to proceed. Because of the time delay, your trade opportunity is likely gone.

Make sure your broker is regulated in a country with a well established financial system. A forex broker regulated in Cyprus, for example, is better than no regulation, but you could still have problems. Pick brokers regulated by U.S., U.K., Canadian, Japanese, New Zealand or Australian authorities, as examples.

You’re a day trader, so demand competitive spreads. For example, if day trading the EUR/USD during a major session expects the spread to be close to one pip (point in percentage) with a non-ECN account. Two pips are too high; eliminate that broker as an option. With an ECN account, the spread should be half a pip or less during major sessions.

Look for a broker that’s available when you need them. Open a demo account with brokers you are interested in, then send them lots of emails with questions. Monitor how fast and how thoroughly they respond. If the customer service isn’t good, eliminate that broker from the list of your potentials.

Be Wary of “Losing Trader” Reviews

Part of your research in choosing a broker should be looking at written reviews of the broker as well as discussion forums.

Be wary of these though. Unless the information comes from a credible source, and most forums are not credible sources, you’re likely to find fake reviews, both positive and negative.

Most day traders will lose money, and since most traders can’t admit that to themselves, they blame others when it happens to them. Just because someone complains about losing money doesn’t make the broker they were using bad, even though the writer may blame the broker.

Look up what people are saying, but maintain objectivity. Lots of false information gets published with no credible reference.

Personally Test out the Broker

Your list of potential brokers should be smaller now. But with so much false information out there, don’t make a decision yet. Instead, test out the brokers you are most interested in.

  • First, open a demo account and take note of the trading conditions. Your orders should execute instantly. Spreads should be tight and the platform stable, not crashing all the time.
  • If the demo works well for several weeks, then open a live account, with a fraction of the capital you intend to deposit. For example, if you have $10,000 to deposit, start by only putting in $1,000.
  • Trade the live account with your partial deposit for at least two weeks. During this time, continue to test customer support, asking them questions and assessing how quickly they respond.
  • Initiate a withdrawal for some of the funds in your account. Depending on your withdrawal method, this may cost you several dollars, but it’s worth it to know whether withdrawals can be done easily.
  • If everything seems good after all this, you’ve done your due diligence. Deposit the rest of your capital and begin trading as usual.

Avoid “Bonuses”

When you open a live account avoid any and all “bonuses” the forex broker may offer. Here’s an example: “Open a $1,000 account and get $100 in bonus cash!”

Nothing really comes for free. If you accept a bonus it may interfere with withdrawals, because some of the money in your account is now the broker’s money. Send an email with your account application that explicitly states you don’t want to take part in any bonuses that they have on offer.

Forex Broker Reviews

Here you can find the links to the reviews of all Forex brokers that are presented on EarnForex. If you are looking for the best broker, reading these reviews will help you do it. All broker reviews are linked from this page. Brokers are sorted according to the number of reviews they have received from traders. Upon visiting the page with the actual reviews of the specific broker, you will be able not only to read the reviews left by other traders, but you will also find the detailed information about this broker, including its rating. You will also be able to submit your own review.

Please keep in mind that the review process is anonymous and that the submitted statements express only opinion of the reviewer. The presented reviews and ratings do not represent our point of view. It is important to note that not all of these reviews are based on the real facts and events.

Things to consider when reading online reviews about retail Forex brokers:

  • A good review is well-detailed and tries to highlight both negative and positive sides of a broker.
  • Some negative reviews might be submitted by the company’s competitors. Even though we have learned to filter those quite well, some are still getting through.
  • Some reviews come from incentivized visitors and are partially or completely fake. Just ask yourself: “Does it read like a person who really traded with this company and wishes to share his or her experience?”
  • Official representatives of many brokers often respond to issues mentioned in the reviews and help to resolve them. Such cases might turn useful if you are not sure whether that broker is a good choice for you.

Forex broker reviews are a great source of information when selecting a company to open a trading account with. However, they are not always fair and unbiased. You should look at other characteristics of the broker before deciding on opening a live account.

IC Markets

IC Markets Reviews and Ratings:

Website https://www.icmarkets.com/
Live Chat YES
Telephone +61 (0)2 8014 4280
Broker Type ECN
Regulations ASIC
Min Deposit $200.00
Account Base Currency USD, AUD, EUR, GBP, CAD, JPY, NZD,CHF, SGD, HKD
Max Leverage 500:1
Trading Platforms Metatrader 4/5, cTrader, Webtrader, API Trading, MAM / PAMM
Markets Forex, Index CFD Trading, Precious Metals, Energy, Bitcoin
Bonus Offered None
Funding Options Credit / Debit Card, PayPal, China Union Pay, Bank Transfer, Bpay, Skrill, Neteller, Qiwi, Fasapay, Webmoney, Fasapay, Broker to Broker

IC Markets

Overview: Australia-based, ASIC-regulated IC Markets is one of the biggest forex brokers, and has a good reputation for efficient platforms and support system. They have offices in Sydney and offer a number of flexible choices for trading.

Accounts: Traders can sign up for standard accounts, True ECN accounts, cTrader ECN as well as Islamic swap-free accounts. All accounts are segregated with Australian banks. The IC Markets Multi Account Manager lets money managers and experienced traders enjoy reporting in the real time with fund allocation and performance monitoring through one user-friendly interface. You can trade over 90 currencies, metal and CFDs.

Minimum deposit: $200

Maximum leverage: 1:500

Features: IC Markets gives you a total of 10 platforms to trade on, including MetarTrader4, the new MetaTrader5, mobile platforms, cTrader and autotrade services like Myfxbook and ZuluTrade. These services let you copy trades in any system to your IC Markets MetaTrader 4 account, free of charge and with no need for downloads.

With the True ECN connectivity the brokers offer tight spreads, access to interbank liquidity and fast execution.

Education: News, market reviews, calendars and calculators, as well as video tutorials are available.

Deposits/Withdrawals: Deposits accepted in ten different currencies, through fourteen fund transfer and payment options. The withdrawal form is processed quickly and withdrawals are received anywhere between 1 and 5 working days.

Customer service: 24/7 via online chat or email.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Like this post? Please share to your friends:
Binary Options Brokers, Signals and Strategies
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: