XM
XM
- Online Since 2009
- Spread From 1 Pips
- Leverage Up to 1:500
- 5 Digit (5 Decimal Pricing)
- MetaTrader 4 & MetaTrader 5
- Regulation: ASIC, CySEC, FCA (UK), IFSC
- Scalping, Hedging, EA Robot, News Trading allowed
- Free Swap & Commission
- Payment options : Credit/ Debit Card, bank wire transfer, local bank transfer, Neteller, Moneybookers Skrill, Western Union, MoneyGram, WebMoney, China UnionPay, SOFORT, iDEAL.
Details
| Broker | XM |
|---|---|
| Website URL | www.xm.com |
| Founded | 2009 |
| Trading Platform | MT4 and MT5 |
| Minimum 1st Deposit | $5 |
| Maximum Trade Amount | 0.01 Lot |
| Bonus | “50% +20% deposit bonus up to $5,000, Loyalty Program Bonus |
| Leverage | 500:1 |
| Spread | From 0 Pips |
| Free Demo Account |  |
| Regulated | |
| Regulation | ASIC, CySEC, FCA (UK), IFSC Belize |
| Deposit Methods | Credit/ Debit Card , bank wire transfer , local bank transfer , Neteller , Moneybookers Skrill , Western Union , MoneyGram , WebMoney , China UnionPay , SOFORT , iDEAL |
| Withdrawal Methods | Credit/ Debit Card , bank wire transfer , local bank transfer , Neteller , Moneybookers Skrill , Western Union , MoneyGram , WebMoney , China UnionPay , SOFORT , iDEAL |
| US Traders Allowed |  |
| Mobile Trading | |
| Tablet Trading | |
| Overall Score | 9.677 |
| Customer Service | |
| Spread | |
| Trading Platforms | |
| SUMMARY | 4.7 |
Why Must Trade in XM Forex Broker ?
- Online Since 2009
- Spread From 0 Pips
- Leverage Up to 1:500
- 5 Digit (5 Decimal Pricing)
- MetaTrader 4 & MetaTrader 5 Platform
- Regulation: ASIC, CySEC, FCA (UK), IFSC Belize, Being the process FSB license
- Negative Balance Protection
- Scalping, Hedging, EA Robot, News Trading allowed
- Free Swap & Commission
- Payment options : Credit/ Debit Card, bank wire transfer, local bank transfer, Neteller, Moneybookers Skrill, Western Union, MoneyGram, WebMoney, China UnionPay, SOFORT, iDEAL.
Review XM
XM.com is one of the largest and well-established forex brokers in the world. It was founded in 2009 and based in the city of London. The XM group offers a wide array of progressive features like cryptocurrencies, sticks, trading forex, equity indices, and commodities. Here are some of the most important feature of the website
Types of accounts offered by XM.com
There are three types of accounts to choose from: standard account, micro account, and zero accounts. The standard account typically allows you to trade in standard lots, usually up to 100,000 units of the base currency. The Micro account, on the other hand, allows you to trade in micro lots, usually 100 units of the base currency. The zero account is commission based which means that you pay a certain commission per trade
Tools and platforms
The XM group is a MetaTrader-only broker that offers a wonderful experience. It offers a range of platforms from MT4 and MT5 platforms for web, mobile, and desktop to the MetaQuotes software corporation. There are also XM mobile platforms for tablets and smartphones using both Android and IOS operating systems. The WebTrader platforms can be accessed from any device with a browser which means that whichever the device you use, there is a solution for you.
Payment options
The XM group allows several payment options including credit cards (MasterCard, visa card, visa electron, solo, and switch), bank wire transfers, skrill, Neteller and several others. They recently introduced the local bank transfer which allows you to fund your account using your own local bank. This option, however, is applicable to 58 countries only. You can check with the website if your country is among those listed. The funding of your account is automatic and guarantees same day withdrawals.
XM research tools
XM research tools mainly comprise of fundamental analysis videos, articles and daily market recaps generated by an in-house team of analysts. The company also offers various calculating tools ranging from the pip value calculator to the all in one calculator, which can be essential to traders when researching and planning trading ideas. Regarding manual trading signals, XM.com provides trading signal tools to live account holders. Through the trading signal tools, you can gain access to signals across ten instruments generated two times daily.
Executive trades
XM.com allows you to perform a minimum of 0.01 lot depending on the account you open. The maximum trade is 50 lot. The XM group is regarded as a market maker meaning it has lower entry requirements compared to Electronic Communication Network (ECN) broker. ECN brokers benefit from high volumes of trade and generally has minimum trade requirements and larger capital.
Market makers, on the other hand, have smaller, minimum trade requirements, lower minimum deposits, and no commission on trades. Furthermore, XM has no requites. And as such, you don’t have to worry about being ordered at a different price from what you had performed them at. There are also no hidden fees or commission policies. They have a negative balance protection policy as well as the strict, real-time market execution policy which make XM.com a favourite brokerage website to many traders
What you need to open an XM account
Since XM is regulated by ASIC, CySEC and the FCA, every new trader has to pass the basic compliance checks which ensured that you understand the risks of trading and that allows you to trade. When opening an account with xm.com, you are probably going to be asked the following:
— A bank statement or a utility bill from the past three months revealing your address
— A scanned colour copy of your national ID, a driving license or a passport
Customer support
XM has significant levels of client support and engagement. They have a dedicated phone number, an email address and a live chat widget on the website. An interesting feature of the support is that it offers customer service in over 20 different languages. These support services are available on business days from Monday to Friday. Any queries brought forth over the weekend is handled on the next business day.
Conclusion
XM.com is an excellent forex brokerage firm. It has easily manageable platforms and high-reliability trade executions. Better still, the difference between the three account types is minimal, and so you can choose to create any of the three accounts. The only drawback of the website is that the customer support isn’t available during weekends. Otherwise, the website is a powerful online forex broker.
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