CySEC close to issuing ban on Retail Forex deposit bonuses

To be honest, I’m a little conflicted since I’ve been using xm.com as one of my brokers for the past couple of years and their allround service has been nothing short of stellar.

Their bonus system is also totally transparent, no strings, no catches besides of course you can’t withdraw the bonus itself but all profits are immediately available for withdrawal. I’ve in fact tested it myself with a small amount of money and I had no problems. But of course some might counter with, yes perhaps you did not have a problem BECAUSE it was a small amount…In which case they should read the following:

First Millionaire Trader of European Forex Broker
Who wants to be a Forex Millionaire (do read the comments)

And just yesterday I received the following email from them:[I]

…Today, 22 November 2016, XM Group is pleased to announce the [B]commencement of operations of its UK entity XM UK (Trading Point of Financial Instruments UK) [/B].
[/I]
[I]XM UK, situated in what is known as the world’s most known financial center, the City of London, has come as a result of the XM Group’s continuous commitment to being fair and being the broker of choice for its customers.

In celebration of the commencement of XM UK, from 22/11/2016 we are offering clients the opportunity to claim a [U]time limited[/U] [B]100% bonus up to $958[/B] (or currency equivalent).

In order to claim the offer you will need to login to the Members Area and follow the simple instructions there…

[/I]So my point is, while it’s true that a good number of these brokers who offer various bonus programs are blatantly shafting their clients one way or another, my experience with xm.com suggests that there are indeed exceptions.