Skip to main content

XM Forex Review : Is XM A Good Broker?

XM is an FCA-registered and CySEC-regulated forex broker that is the trade name of Trading Point of Financial Instruments Ltd. An international broker, XM has its offices spread across the globe, with the main office being located at Limassol, Cyprus. Despite being a relative newcomer (being established only in 2009), XM has made tremendous progress in the recent years. Also, its corporate reputation has swelled quite a lot owing to its core values like offering excellent trading conditions to clients, business transparency, and professional client communication.

XM Forex has the full European Union authorization to carry out its financial services operations. In fact, the broker is regulated by various bodies including BaFin, CNMV, AFM, FIN, and FI in the region. The broker is believed to have the best execution policy among all forex brokers in carrying out trading orders in a real quick time.

Features
If you’re looking for a next-generation forex broker that can provide you with a wide range of progressive features, then XM falls into that league. In fact, in choosing XM, you can choose to trade between forex, energies, stock indices, and precious metals. The best part about associating with this broker is that there are no hidden commissions or fees and no rejections or re-quotes of trading orders. What’s more, 99.35 percent of trades get executed within a second!

A unique feature of XM is that it has a leverage of 1:500. Also, there are more than 100 financial instruments and 60 currency pairs that can be traded across multiple platforms and by phone. If these features aren’t enough, the broker doesn’t limit your deposits for any type of account.
Traders, both seasoned and novice, can expect superior trading features and services from XM. In fact, the trading conditions, whether they open a demo or real account, is the same. The best part about XM Forex is that you register with them using any of the 17 languages that its website supports. What’s more, for as little as $5, you can open an account and try your luck on the market. Also, clients can benefit a lot as there are tight spreads on offer; sometimes as low as 1 pip on certain currency pairs.

There are different trading account types available with XM Forex. Each of these accounts has unique trading conditions. They also support different currency options for EUR, USD, AUD, CHF, and JPY. With XM providing same straight spreads across more than 60 currency pairs, clients can certainly expect fractional pip pricing and also benefit from quotes that are accurate.

Trading Systems
Currently, there are two different trading systems available with XM Forex – Meta Trader 4 and Web Trader. For those traders that are seeking real-time market information, Web Trader is excellent. All the information pertaining to the market is passed on to you through the broker’s website and for this; you need not download additional software. Therefore, if you’re one that likes to trade forex through your smartphone or through a computer that has limited disk space, Web Trader is ideal for you.
Meta Trader 4 or MT4, on the other hand, is the most popular forex trading platform available today! Not only the market movements and prices are clear on this platform, it is user-friendly. Therefore, when you choose to trade forex using MT4, you can definitely look forward to an enhanced experience. Also, note that you can trade automatically as well as manually using MT4!

Accounts
Micro is the first level of trading account type available with XM Forex. For those wishing to try out a low-risk approach towards forex market, Micro account offers a lease of life. This trading account type is also ideal for those who are still learning the nuances of the forex market and are not willing to take risks at that point in time. For as little as $5, you can open a Micro account.
The next trading account type is Standard. This is primarily for those traders that are willing to take moderate risks. Remember, in this trading account type, the contract sizes are fairly large.
If you’re willing to splurge on the forex market and are not averse to taking risks, then the Executive account is for you. To have it activated, you need to shell out $100,000. Though the risks attached to this account are high, chances of making gains too are high! This account type is most suited for those who wish to trade high volumes.

Demo account is also available with XM Forex. This is especially ideal for those that wish to test the forex waters before taking the plunge. However, a maximum of $100,000 is provided as the virtual fund for this account. And for those who wish to trade using the principles prescribed under the Sharia law, XM offers Islamic accounts.

Underlying Assets
Different types of instruments can be traded through XM. Some of these include:
Currencies
Indices
Gold and Silver
Stocks
Commodities
CFDs
Oil
However, the platform does not support EFT trading.

Spreads and Fees
The spreads you need to deal with largely depends on the forex broker you wish to be associated with. In case of XM, the spreads will vary according to the account type and the trading system. However, spreads start as low as one pip. The good news is that fractional pricing is readily available. In fact, as compared to four digits offered in most other sites, XM gives you five digits! Also, the trader is free to choose both variable and fixed spreads.
Another point to note is that XM does not charge commissions. All the profits made by the company are made through the spreads of the trades. Also, as there are no hidden charges involved whatsoever, the profits made by the traders are for real.

Platform
XM clients, both real and demo account holders, can trade on 8 different trading platforms, all of which support different trading features and tools. As most of the features are easily accessible through a single XM account, it facilitates traders to get on with their trading activities anytime and anywhere with ease. The MetaTrader 4, the award-winning platform, in particular, works perfectly fine with lots of real and demo accounts. What’s more, it also supports Expert Advisors!

Deposits and Withdrawals
XM is one of the most sought-after forex brokers on the market today for a reason. Among various reasons for this trend is that it has no hidden fees, has negative balance protection, no commissions, no re-quotes, and above all, real-time market execution policy in place.
The broker assures the safety of clients’ funds as they’re all segregated in Tier 1 Barclays accounts. Furthermore, the broker guarantees 100% account funding and the processing is done 24/7. There are also options for daily withdrawals. Different payment options available with XM Forex include Bank Wire, Credit Cards (MasterCard, VISA Electron, VISA, Solo, and Switch), Neteller, Skrill, Moneybookers, China UnionPay, MoneyGram, iDEAL, WebMoney, and Western Union. Also, the broker has recently introduced funding accounts through local bank accounts in as many as 58 countries. The broker does not charge anything for fund transfers!

Education
There are weekly webinars available for XM account holders and they’re accessible via XM Learning Center. The best part about these webinars is that they are supported in as many as 13 languages including English, Polish, Arabic, Bengali, and others. There are 18 expert instructors providing these services to clients.
The amount of video tutorials available via broker also seems endless. Besides this, there are plenty of seminars and workshops that are conducted on a regular basis.
Reliability and Efficiency
XM is considered by many as one of the most reliable brokers. The broker has, in fact, the distinction of executing almost all its trades on a real-time basis. The best part about trading with XM is that there are no re-quotes.
Customer Support
Personal Account Managers that are multilingual are available for both real and demo accounts via live chat, e-mail, and telephone in over 14 languages. The support features are available for clients 24 hours a day for 5 business days. Representatives of the brokers are able to speak fluently in different languages like English, Chinese, Spanish, Russian, Japanese, Hindi, Greek, and others

Conclusion
It doesn’t what your skill level is; XM is the forex broker you need to watch out for! Some of the core strengths of this broker lie in its ability to execute all trades in a real quick time, no order rejection, best-in-class leverages, and easily manageable platforms. The customer support features and tools too are excellent!

Pros:
Well-regulated 
Negative Balance Protection
Fast execution speed
Over 300 Instruments Including Forex, CFDs and Futures
Single Login Access to 8 Platforms
Spreads as low as 0 pips
Technical Analysis Tools with 50 indicators and charting tools
Chart Types
Micro Lot Accounts (Optional)

Permits hedging 
Allows scalping 
Offers Islamic Accounts
Offers VPS services
Full EA (Expert Advisor) Functionality

cons:
Paypal deposit and withdrawal not available
You need to pay a fee of $5 per month if you are inactive


             > > > Sign Up for XM.com < < <

Comments

RISK:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

Popular posts from this blog

Best Forex Brokers in Nigeria 2018: Most Trusted Forex Brokers

Nigerians have quite a few options when it comes to choosing forex brokers in nigeria. However, these options weren’t available to them a few years back. It is interesting to note that some of the best forex brokers in Nigeria are the ones that have operations across the globe and are an established force in the forex industry.
In compiling the list of best forex brokers in Nigeria, we have taken into the consideration many factors like overall experience in the forex industry, customer service, website and platforms, paying methods, and others.


1. XM

This forex broker, based in Cyprus, came into existence in 2009. The company is a result of the efforts put in by a group of like-minded interbank dealers that came together to form a platform that caters to the forex trading needs of all kinds of traders.





Pros:

XM provides services not just related to forex markets but also CFDs and commodities. Therefore, there is always something or the other for a trader to look forward to in online tradi…

Best Forex Broker Lowest Spread 2018 Update

When it comes to choosing forex brokers, there are many factors you need to look at. While most forex brokers do not charge any commissions for the services rendered to you, they make up for it through spreads. Here again, the actual spreads levied on you can vary, depending on the broker chosen by you. As a forex trader, your aim always has to be in buying at low rates and selling at high rates. This is why even half-a-pip can make a lot of difference to your chances.

To make easier for you, we have compiled a list of some the best forex brokers with low spreads.

1. XM
One of the finest online forex brokers available today, XM can help you trade not just in forex but also CFDs and commodities. Also, given that XM is registered with BaFin and FSA, you can be sure that your trading interests are protected by XM. Furthermore, the broker uses the Industry standard trading platform – Metatrader for providing all its services.






Pros: It is extre…

Best forex brokers in Brunei Darussalam 2018 : For Greater Trading

To begin to negotiate on forex trading markets you will need an account with a good Forex Brokers in Brunei Darussalam. If you are a beginner you should know that a forex broker is essentially a mediator, person or company who buys and sells orders according to the retailer. Here is the list of the 10 best Forex Brokers in Brunei Darussalam for beginners and experienced traders. Each of these list brokers offers an excellent trading service.


1. XM
XM is a registered trademark of point trading holdings Ltd., founded by professionals of the market with a knowledge in depths of the capital and forex markets. XM is regulated by several serious regulatory agencies like cysec, FCA, Bafin, and others.


It offers trading service in the whole world in more 179, XM offers fair trade through a performance of standard contract in the industry, with a variety of account types, xm offers also has its customers daily and material analysis reports educational, making it an excellent option for beginners …