XCM Markets- Safe or Scam?

General Information

XCM Markets is an offshore broker registered in Saint Vincent and the Grenadines, giving their clients access to trading instruments. The XCM Markets platform provides four types of trading accounts: Standard, Gold, Platinum, and VIP, with the minimum deposit required by each account not disclosed.

Account Types

Standard accounts, Gold accounts, Platinum and Elite accounts are available options for both retail and professional clients. However, XCM Markets does not list detailed account features.

Aside from live accounts, demo accounts and Islamic accounts are available too.

Trading Platform

XCM Markets does not offer clear information about what trading platform it provides.

Payment Methods

Since we could not access the XCM Markets client area, we cannot be sure that all the payment methods the broker mentions on the website would be available. We saw the logos of VISA, MasterCard, Skrill, and Neteller, as well as of different banks.

Spreads & Commissions

With commissions not specified, spreads are determined by trading accounts. Honestly, spreads offered by XCM Markets are pretty wide, with the spread on the EUR/USD pair starting at 4 pips. GBP/USD pair 6 pips.

Leverage

XCM Markets claims to offer maximum trading leverage of up to 1:400, which we could not confirm since we did not get access to any sort of trading platform or even to the client area.

Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting in the trading world, it's best to stick with the lower size, no more than a 1:10.

Customer Support

If you have any inquiries or trading-related issues, XCM Markets can be reached through the following contact channels:

Telephone: +359 87 822 8123

Email: support@xcinvesting.com

Company Address: First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and Grenadines.