XM Review for Tanzanian Traders
Details on this page have not yet been independently verified by our editors.
SaveQuick facts
- Regulators
- CySEC, ASIC
- Minimum deposit
- 5 USD
- Platforms
- MetaTrader 4, MetaTrader 5, Broker web/mobile app
- Demo account
- Yes
- Mobile app
- Yes
- Account currencies
- USD
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Details on this page have not yet been independently verified by our editors.
Regulation
| Regulator | Entity | Licence | Verified |
|---|---|---|---|
| Cyprus Securities and Exchange CommissionCyprus | - | - | Not yet |
| Australian Securities and Investments CommissionAustralia | - | - | Not yet |
Always confirm a licence on the regulator's own website before depositing money, and check which entity your account will be opened with.
Trading platforms
-
MetaTrader 4
-
MetaTrader 5
-
Broker web/mobile app
XM app
Account types and minimum deposit
| Account | Min. deposit | Spread | Commission | Max. leverage |
|---|---|---|---|---|
| Micro | 5 USD | Variable | None | - |
| Standard | 5 USD | Variable | None | - |
| Ultra Low | 5 USD | Variable | None | - |
| Shares | 10,000 USD | Variable | Per trade | - |
Spreads and fees
- Spreads
- Not yet verified.
- Commissions
- Not yet verified.
Spreads vary with market conditions. Overnight (swap) fees may apply to positions held past the daily rollover.
Deposits and withdrawals from Tanzania
| Method | Deposit | Withdrawal | Fees | Time |
|---|---|---|---|---|
| Peer-to-peer (P2P) Local | Yes✓ | Yes✓ | - | - |
| International bank wire | Yes✓ | Yes✓ | - | - |
| Neteller | Yes✓ | Yes✓ | - | - |
| Skrill | Yes✓ | Yes✓ | - | - |
| Visa / Mastercard | Yes✓ | Yes✓ | - | - |
Mobile trading and demo account
- Mobile trading
- Yes
- Free demo account
- Yes
New to trading? Practise on a demo account first. Our lesson on opening a demo account explains how.
Strengths and important considerations
Strengths
- Negative balance protection
- Free deposits and withdrawals
- Extensive educational content and webinars
Alternative brokers
Compare XM with these brokers
Official website
Before opening an account, read the broker's client agreement, check the regulator's register and practise on a demo account.