Trading Point Group With XM And XMTrading Received Orange Compliance Rating!

tamir
Wed, 21 Jun 2023 11:24:07 +0000
CySEC, Offshore Broker, Orange Compliance, FinTrade, Nuvei, Payabl, Skrill, TPS Management, Tradexfin, Trading Point, Trading Point Holdings, Trading Point MENA, Trading Point of Financial Instruments, Trading Point of Financial Instruments UK, XM, XM International BS, XMBroker, XMFX

XM is a CySEC-regulated broker and part of the Trading Point Group, which also runs the offshore broker schemes XMTrading and XMGlobal through offshore entities and TPS Management Limited in Cyprus. The group’s offshore broker schemes receives most of its clients from Asian countries. While more than 99% of the XMTrading website visitors come from Japan, XMGlobal attracts visitors from Vietnam, Pakistan, and Uzbekistan. We have assigned the group an Orange Compliance rating.

Key data

Trading names

XM
XMTrading
XMFX
XMBroker
Trading Point

Domains

www.xm.com
www.xmtrading.com
www.xmbroker-fx.com
www.xmglobal.com
www.xmfx.market
www.xmfxglobal.org
https://www.xmarabia.net
www.trading.com
https://www.trading-point.com

Legal entities

Tradexfin Limited (Seychelles), prev. Trading Point (Seychelles) Limited
FinTrade Limited (Mauritius)
Trading Point Holdings Ltd (Cyprus)
Trading Point of Financial Instruments UK Limited (UK)
Trading Point of Financial Instruments Pty Ltd (Australia)
TPS Management Limited (Cyprus)
Trading Point Asset Management Ltd (Cyprus)
XM Global Limited (Belize)
Trading Point MENA Limited (Dubai)
Trading Point of Financial Instruments Ltd (CySEC)
XM International (BS) Limited (Bahamas)

Jurisdictions

Seychelles, Mauritius,
Cyprus

Regulator

CySEC for Trading Point with license number 120/10
CySEC for Trading Point Asset Management with license number 256/14
FCA for Trading Point of Financial Instruments UK
ASIC for Trading Point of Financial Instruments
FSC Belize for XM Global Limited
DFSA for Trading Point MENA Limited
CFTC for Trading.com Markets Inc.
SCB for XM International (BS) Limited
FSA Seychelles for XMTrading
FSC Mauritius for XMTrading

Leverage

up to 1:30 for CySEC and FCA
up to 1:1000 (offshore)

Proper KYC | yes

Investor protection
& Ombudsman

yes, for the CySEC entity
no for the offshore scheme

Payment options | Credit/debit cards, e-wallets

Payment processors

Eurobank Ergasias
Payabl, Nuvei, Neteller, Skrill, SticPay

Related individuals

Dimitris Dimitriou
Constantinos Cleanthous (LinkedIn)
Christoforos Livadiotis (LinkedIn)
Andreas Loizides (LinkedIn)
Marios Papapostolou (LinkedIn)
Bilal Waheed (LinkedIn)
Rishi Zaveri (LinkedIn)
Carol Papantoniou (LinkedIn)
Elena Nicolaou (LinkedIn)
Constantinos Costa (LinkedIn)

The Trading Point Group

Until mid-2019, XMTrading was operated by Trading Point (Seychelles) Limited and was a visible part of the Trading Point Group. Around May 2019, the company was renamed Tradexfin Limited, and the website has removed all links to Trading Point.

In addition to the offshore entities FinTrade Limited and Tradefinex, Cyprus-based TPS Management Limited, a subsidiary of Tradefinex, is also named as the operator of XMTrading. The company is managed by Dimitris Dimitriou.

The logos of XM and XMTrading are almost identical; only the addition of “Trading” distinguishes them. The look and feel is also identical. Moreover, XMTrading uses Trading Point’s payment API (payway-cdn.trading-point.com). It is obvious that XMTrading is still closely affiliated with Trading Point Group and XM.

The XFMX.market, XMGlobal.com, and XMBroker-FX.com websites are operated by XM Global Limited in Belize and the CySEC entity, their websites state. Nevertheless, they offer leverage of up to 1:1000.

XM Global Limited, authorised and regulated by the Financial Services Commission (FSC) (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.
XMGlobal website

XMarabia.com is operated by the CySEC Entity, the website states.

Compliance Check

XMTrading does not officially accept clients from EEA jurisdictions. However, it was possible for us to register with an EEA residual address in our review on June 21, 2023. The XMGlobal mutations XMFX.market and XMBroker-FX.com officially welcomed EEA residents. In the dropdown menus, the EAA jurisdictions and their locations and streets are stored ready. Evidently, the onboarding of EEA residents is part of the strategy.

Offshore broker XM Global and the Greek Eurobank Ergasias

We could have theoretically transferred unlimited money to XM Global Limited‘s account at Greek Eurobank Ergasias without verifying our identity or address via international bank transfer in the XMGlobal broker schemes.

When depositing by credit/debit card, the amount was limited to €2,000. As payment processors for card payments, we discovered Payabl and Nuvei.

We would have been able to deposit a maximum of €2,000 before verifying our identity or address as part of the KYC check. Thus, XMTrading is also within the regulatory framework of ESMA.

In terms of leverage, XMTrading is very generous and offers up to 1:1000. In most jurisdictions. However, a maximum of 1:30 is allowed for retail clients. Japan, where the majority of clients apparently come from, is more flexible.

We have assigned an Orange Compliance Rating to the Trading Point Group and its broker schemes.

Share Information

If you have any information about XMTrading, its operators, and its facilitators, please share it through our whistleblower system, Whistle42.