XM
XM is a popular name in the world of financial trading. The brokerage was founded in 2009 and is a licensed and regulated by many organizations. Since their foundation, they have earned an outstanding reputation among traders and it is still growing day by day.
XM is known for having a prompt and very professional support desk with 24/5 availability. The brokerage allows traders to join from around the world except from the US. Support agents are available on; live chat, phone calls, emails, plus all top social networks including; Facebook and Twitter.
XM offers multilingual customer support in; English, Greek, German, French, Spanish, Russian, Italian, Chinese, Japanese, Bahasa Indonesia, Bahasa Malay, Hungarian, Polish, Hindi, Arabic, Korean, Czech, Slovakian, Portuguese, Bulgarian, Romanian and Dutch.
What makes our experience with XM so unique and appealing is the fact that even if you do not have any experience with trading the forex market and are in need of training, XM is one of the only few serious brokers in the forex industry that offers training to all traders.
XM REVIEW – REGULATION
XM is authorized and regulated by the FCA, UK Financial Conduct Authority (registration number 705428). The broker is also regulated and supervised by the CySec, Cyprus Securities and Exchange Commission with CIF License number 120/10 and ASIC, Australian Securities and Investments Commission (license number 443670).
As being one of the largest and most reliable brokerage houses in the forex industry, XM is registered with the following regulatory bodies:
• United Kingdom: FCA ( Financial Conduct Authority )
• Germany: BaFin ( Bundesanstalt für Finanzdienstleistungsaufsicht )
• Spain: CNMV ( Comisión Nacional del Mercado de Valores )
• Hungary: MNB ( Magyar Nemzeti Bank )
• Italy: CONSOB ( Commissione Nazionale per la Società e la Borsa )
• France: ACP ( Autorité de Contrôle Prudentiel )
• Finland: FIN ( Finanssivalvonta Finansinspektionen )
• Poland: KNF ( Komisja Nadzoru Finansowego )
• Netherlands: AFM ( Autoriteit Financiële Markten )
• Sweden: FI ( Finansinspektionen )
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XM REVIEW – TRADING PLATFORM
The XM Company offers various types of MT4 for both Windows and Mac. The MT4 is also supported on Android and iPhone operating systems; which means the MT4 application will work with both smartphones and Tablet PCs. This is a web-based platform, so you can access it anytime from anywhere. In fact, with a single trading account, you can access 8 platforms in a row.
The trading platform is designed for both newbie and experienced traders. The simple design ensures that, no one will experience any difficulty while trading.
Both real and demo accounts, XM traders can trade on as many as 8 different trading platforms that support; market, stop, limit, and trailing orders; simply accessible from 1 account. This accelerates trading processes and offers traders great flexibility to trade from everywhere and at anytime with no difficulty.
The available trading software is as follows: XM MT4, XM Web Trader, XM MT4 Multiterminal, XM Mac MT4, XM iPhone Trader, XM Droid Trader, XM iPad Trader, and XM MAM Trader.
XM REVIEW – ACCOUNT TYPES
XM is offering three different account types;
• MICRO Account,
• STANDARD Account, and
• Zero Account.
In a MICRO Account, you will be able to trade with many base currencies. In this account, the contract size is: 1 lot equal to 1000; the leverage is 1:1 to 1:888; as Low as 1 Pip spread on all major pairs, and many more features.
With the STANDARD account, the contract size is: 1 lot is equal to 100000; the leverage is 1:1 to up to 1:888; as Low as 1 Pip spread on all major pairs, 50 lot restriction per ticket and many other features.
With the Zero account, you can trade Forex market with as low as 0 Pips spreads. However, you’ll be charged a small commission based on your trading conditions. You need to deposit a minimum amount of $100 with this account, the other features remain the same as a standard account.
The minimum deposit amount for Micro and Standard accounts are both the same and both accounts can be registered with Islamic guidelines as Optional.
XM Broker Review | Account Features
• MICRO, STANDARD, and ZERO accounts with exceptional trading conditions
• Possibility to trade with micro or standard lots
• Unlimited access to MetaTrader4 and expert advisor trading
• Free regular intra-day market updates as well as technical analysis
• Same spreads conditions and execution quality for all account types
• Multilingual client support and Private Account Manager
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Payment Methods
XM supports a huge variety of payment methods. For Deposits, they accept various credit cards including; VISA, VISA ELECTRON, MasterCard, Maestro, Union Pay, XM MasterCard and Diners Club International. All of them support instant deposit except Union Pay (24 hrs). For electronic payments, you can use; SKRILL, NETELLER, WEB Money, SOFRONT Banking, PaySafe card and other options. They also support; Bank Wire Transfer, Local Bank Transfer, Western Union and Money Gram.
To withdraw, you can use all the credit cards mentioned above. For electronic withdrawal, you can use SKRILL, NETELLER, FasaPay and Web Money. They also support bank transfer. However, there are some restrictions on withdrawing money, but they are offering a huge list of methods.
Research and Education Facility
XM provides education facilities to their customers. Their research analysis center always sends updates about the market trends, events and reports. With more than 20 professional traders, XM is dedicated to educating their customers and solving their trading problems.
All of XM’s accounts have access to XM’s educational center that is considered one of the best features being offered today in the forex industry. The learning center offers many different features including Complete Video Tutorials for both Beginner and Experienced Traders alike, Free Webinars, Forex Seminars, and Forex A-Z Courses.
With their PRO education center, XM regularly offers Forex Webinars, Video tutorials and seminars for their customers. This can help traders reduce their losses and earn maximum profits from trading. On the research zone, you can get the knowledge of Market reviews, Forex News, and Technical Analysis along with updates of currency market. In addition, if you are looking for some tools that can help you maximize your winning possibility, XM provides FX Signals, MQL5, Economic Calendar, and FX Calculators to its valued customers.
Security and Customer Services
XM is a regulated company that is licensed by many organizations. XM ensures the highest security with payment processing, while the entire company operates with SSL technology. Deposits and withdrawals are very fast and secure. The customer support at XM is outstanding. They are dedicated to providing quick solutions to their client’s problems. It provides the best opportunity for traders and that is why they are so popular among traders. They are one of the best brokers in the market.
Traders will receive all of the necessary information and answers about; how to deposit and withdraw, technical problems and solutions or guidance on how to trade the forex market from the broker’s FAQ section. All of the basic information required for writing this review was obtained from the XM FAQ section.
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XM Broker Review | Spreads
XM offers all traders, without exception, the same tight spreads for all account types and trade sizes, without charging any extra fees or commissions. They know the fact that tight spreads only make sense if traders can trade on them. That is why they attribute such a great importance to their execution quality. The 888:1 leverage offered by XM is totally unique in the industry.
• Tight spreads as low as 1 pip on all major currency pairs
• Over 60 financial instruments
• NO commissions, NO hidden fees
• The same spreads for all trading account types
• Best execution policy
• Fractional pip pricing
XM Broker Review | Deposit and Withdrawal
XM is one of the only brokers in the industry to guarantee same day withdrawals. Their withdrawal policy is detailed in their terms and conditions, which states you just need to verify your trading account and you are able to withdraw your funds and profits as often and as much as you like.
XM doesn’t force its traders to deposit a minimum balance of $500 or more, like other brokers. The minimum deposit amount is $5 for electronic funding, including; credit cards, Moneybookers, Skrill and Neteller.
You can deposit using Credit Cards and Electronic Payments, including; VISA, MasterCard, Maestro, UnionPay, Neteller, WebMoney, Skrill, Sofort, CashU and FasaPay. The broker also supports Western Union, and Bank Wire Transfers.
FINAL THOUGHTS
XM, being an established MT4 broker, is known to be reliable and professional. Their helpful and friendly staff assists online currency traders through their trading activity and the team is available 24 hours, 5 days a week.
As a fully regulated online Forex broker, XM provides a number of features to their traders, including; numerous assets to be traded, fast withdrawals, professional customer support, secured deposits and user-friendly trading platforms. XM’s trading platform is perfect for both; beginners and experienced traders alike.
On top of this, XM is consistently developing new ways to better its clients’ experience offering a fast and proficient service to all traders.
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