IndianXM Review

About IndianXM

IndianXM does not appear in any official registries of recognised financial regulators, including the Australian Securities and Investments Commission, the Seychelles Financial Services Authority, the Securities Commission of The Bahamas, the Cyprus Securities and Exchange Commission, or the Israel Securities Authority. Attempts to verify the license number “SD018” referenced on its site correspond to another entity—Raw Trading Ltd (IC Markets), per the Seychelles FSA register (). BrokersView and WikiFX independently conclude that IndianXM operates without legitimate regulatory oversight and should be considered a high-risk or scam operation ().

Trading platforms claimed by IndianXM include MetaTrader 4, MetaTrader 5, and cTrader. Asset classes promoted are CFDs on forex, commodities, indices, stocks, bonds, cryptocurrencies, and futures. Account types offered include Standard, Raw Spread, Demo, and Islamic accounts; maximum leverage cited is up to 1:500; spreads are said to start from 0.0–0.6 pips; minimum deposit reportedly around USD 200; deposit/withdrawal methods include credit/debit cards and e‑wallets ().

Pros and cons

Pros

• Offers a variety of asset classes across CFDs including forex, commodities, indices, stocks, bonds, futures, and cryptocurrencies ().
• Supports multiple platforms (MT4, MT5, cTrader), multiple account types (Standard, Raw Spread, Demo, Islamic), high leverage up to 1:500, and low starting spreads from 0.0–0.6 pips ().

Cons

• No valid regulatory status—license claims could not be verified with regulators; official registries show no record ().
• Regulatory license number “SD018” corresponds to a different entity (Raw Trading Ltd / IC Markets) per Seychelles FSA ().
• Evaluator platforms mark it as high-risk or scam, and there is absence of credible regulatory safeguards or oversight ().