XM (formerly Trading-Point.com and XEMarkets.com) is a trading name of Trading Point Holdings Ltd. The company is registered in Cyprus and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 120/10. They are also registered with FCA (FSA, United Kingdom), registered with BaFin (Germany) and registered with CNMV (Spain). Trading Point of Financial Instruments Ltd operates in accordance with MiFID. MiFID means the “Markets in Financial Instruments Directive” of the European Union.
The company has got two basic XM affiliate programs. The first one is for Introducers of business and the second one for XM affiliate partners.
Program for Introducers of business
They call this program “Introducers of Business”. Introducers of Business are partners who maintain business portfolios and receive weekly commission for all the clients and sub-IBs they refer to XM. You can earn up to $10 commission per Lot on referred clients and 10% on other IBs referred. In cases where you introduce another partner to XM, the new partner automatically becomes a sub-partner of yours. As such, XM rewards you with 10% commission on all the earnings generated by that sub-affiliate. There is no upper limit on the commissions you can earn.
Program for Affiliate websites
As they state, the program is ideal for website owners. They offer up to $10 per lot on referred clients and 10% on other Introducing brokers you have referred to them. Every time an XM Demo or Real account is opened by a client (who clicked on a banner or link from your website) the new client is automatically added to your XM partner account.
XM registration process
XM has more than 36,000 affiliates and IBs from 196 countries. As a matter of fact, we do not see any difference between their XM introducers of business and XM affiliate program. And we do not remember choosing any of the options. XM probably decides itself based on the information you enter during registration. The commissions are the same and in both cases you can have sub-affiliates.
The registration process is really fast. You just fill in the details in the form and later click a link to confirm your email address. It will take up to 5 minutes. Sooner or later you will be asked to send certain documents to confirm the information. You can send your ID, passport or driving license and e.g. electricity bill or bank statement. Proof of address cannot be older than 6 months. The ID must be scanned in color, high resolution and with all the sensitive data (e.g. your personal number, signature etc.). This is the reason why we decided to close our XM affiliate account. You can read more in the second part of this review.
Their customer support consists of native speakers of 18 languages and once you open an affiliate account XM will dedicate you your personal account manager.
This is how the XM affiliate back-office main tab looks like.
XM affiliate promotional tools
XM regularly develops and provides range of contests. They are designed for clients to either open an account with XM or increase their trading activity. In either case this results in added commissions for you as an XM affiliate partner. Their promotional materials include banners, custom tracking links, newsletters, landing pages, ready-made websites, certificates and seals.
XM offers flash, .gif animated and static banners – all these in 20 languages and 11 sizes. You just need to copy and paste the URL tracking code of the banner you have selected, and it will immediately appear on your website.
Custom tracking links
They allow you to link to whichever page of the XM website. That is what they state. Well, our findings show that you can not. You are not able to link e.g. to .PDF documents like Terms and conditions are. You can choose from predefined links to various pages (like Real account, Zero account, Demo account, Promotions and bonuses etc.). When you choose any of the options you will get a HTML code and custom URL.
Ready made websites
One of their most interesting promotional tools is the ready made website. As the XM states: “Buy a domain, upload the HTML and you’re ready to go.“ If you are interested in this, you can contact your account manager and request a ready-made HTML website with your links embedded within. Then just upload the HTML on to your new website and you are ready to earn commissions for your referred clients.
Tracking and statistics
XM broker provides their partners with access to live statistics and reports designed to monitor affiliates performance and help them increase their earnings.
As an XM affiliate you can review your account, conversion statistics, campaign charts, top performing ads, etc. Until November 2016 they used an old system that was freezing very often and was really bad. We have also contacted their customer support to solve this issue but they just suggested clearing the cookies. Since December 2016 they use a new system. As a matter of fact their live stats are now really well designed, fast and very flexible. In the Report tab you can see the Trader list, Demo trader list, Trader transactions as well as the information about your sub-affiliates.
In the statistics area of your partners account you will find detailed statistics of all the campaigns you have created to date. For example, if you are running a number of campaigns, you will be able to view analysis of clicks, sign-ups and conversions for each and every campaign separately. The charts function will allow you to get a quick view of how your campaigns are performing across the board. The charts allow partners to access separate views on conversion, commissions, and ad performance. Furthermore, charting is offered for each banner, link, or campaign which the affiliate partner has created. They will allow you to understand which promotional tools are working best for other partners (“top performing ads”). This helps you understand which banner is more likely to generate better results by attracting traders based on your location or where you mainly target your website.
In conclusion: This XM affiliate statistics is the nicest we have ever seen. It is really fast, customizable and can meet all your needs.
Why we decided to close our XM affiliate account
On the other side, there are also problems we can not overlook. We have referred to them 6 clients with Real accounts and 12 clients with Demo accounts. It took us a couple of months. After such long period the status of our partner account has suddenly changed from “VALID” to “UNVALIDATED”. They wanted us to upload new documents – ID and proof of address. Documents must be a scanned in color, high resolution with all the personal information (e.g. signature). What exactly can you black out? The answer is – absolutely nothing.
As there are many SCAM brokers in the Forex market, one of our basic rules is that we do not send any high resolution scanned IDs in color with all our sensitive data to any company. That is the reason why we have asked our personal account manager to close the affiliate account. If you decide so – you can just send an email request to your account manager.
Cookies and earnings
According to the information from their representative, the cookies last only for 40 days. This is the time during which the visitor must register in order to be regarded as your referral. There are no restrictions on how much you can earn on per client. For as long as your clients continue to trade, they will generate commissions for you. XM do not impose an earnings limit. The amount you earn depends entirely on the trading activity of your referrals. XM pays the commissions to XM affiliates (or IBs) on weekly basis. XM also does not place any upper limit on the amount of commissions you can receive each week. Your earnings can be paid by wire transfer, Skrill, Neteller, XM card or transferred to your XM trading account.
Terms and conditions
Here you can read the whole document about Terms and conditions for affiliate partners. We see the stumbling block in their Terms especially in one point, quote:
“Your Commission(s) will be paid and sent out to you within thirty (30) calendar days after the close of each calendar month, except that, if the total amount due to you is less than USD $500, the balance will be carried over and added to Your Commission(s) for the next month, until the total amount is more than USD $500. In the event that the balance amount carried over in your Online Marketing Affiliate Account(s) does not total USD $500 within a consecutive three (3) month period, then the amount due will be voided and cancelled, and we may terminate this Agreement with immediate effect by giving notice to you in writing.”
Conclusion: Great promotional materials, tracking system, statistics. The company used to send daily statistics by email but have stopped after the upgrade to the new back-office system. We just hope it will not turn into another Forex scam company as many companies in the past. However, due to the changing conditions (our account has changed from valid to unvalidated) and due to the unacceptable demands regarding the IDs we would not fully recommend XM affiliate program. But if you are OK with their conditions you can register and enjoy the statistics.
Our XM affiliate program recommendation: QUESTIONABLE
Do you have any positive or negative experience with XM affiliate program? Do you have any compliments or complaints? Let us know in the comments below and rate the broker.
XM affiliate program review
Quality and reputation5.0/10
Terms and registration2.0/10
Tracking and statistics9.0/10
Payments and reliability4.8/10
- Great tracking and statistics
- Many banners which are really nice
- You can buy a domain and have your own ready-made website
- Customer support and banners in many languages
- Payments every week
- You can not link to certain pages (e.g. .PDF documents)
- There is an official payment threshold of $500
- Broker registered in Cyprus
- They do not send daily statistics by email anymore
- You will be asked to scan your ID and proof of address - high resolution colored scan with all the sensible data