May 10 2022 0
On the journey in seeking the best forex brokers, you and other traders might have a lot of obstacles to overcome. Based on my experience and wisdom in this market, I nominate XM for the best broker ever. Through trading with XM, you will gather a lot of opportunities along with attractive benefits. You are worth enjoyable trading conditions and customer service.
Surprisingly, the minimum deposit at XM is only $5. What a stroke of luck. Are you fascinated by this chance and curious about how XM can do that? Let's find the answer in this article.
More details on the full XM review.
How much is XM minimum deposit?
In spite of taking a considerable place in the best forex brokers in the world, XM still brings to customers the lowest minimum deposit rate. For instance, it is only $5 for the Micro and Standard account, and $50 for the Ultra Low account.
XM deposit and withdrawal methods
Currently, deposits and withdrawals at XM are processed 24/7 through electronic payment gateways such as Neteller, Skrill, VISA, MasterCard and Ngan Luong.
The biggest advantage of XM is that it supports all deposit/withdrawal costs for all payment gateways such as: Neteller, Skrill, Visa, Mastercard. For example, if you deposit 100 USD with Skrill and withdraw 100 USD later, you will get the full 100 USD in your Skrill account, as XM has already paid the full transaction fees both ways. This is something no forex broker can do except XM! However, if you withdraw less than 200 USD you will be subject to a withdrawal fee collected from your bank.
All withdrawal requests are processed by XM within 24 hours. Money will be received via XM Card or e-wallet within the day, if using a transfer or credit/debit card it will take 2 -5 working days.
Trading costs and trading benefits of XM
There is no doubt that traders frequently put transaction cost in their priority when picking a broker to associate. The lower the transaction cost, the more profits they will earn. The accrued savings by the time can turn into a broad asset for other investments. In case of trading with XM, they particularly provide customers with low, reasonable and equal to the spread of FXCM and Forex.com in comparison. For instance, XM’s spread is just 0.8 pips for the currency pair EUR/USD as the Ultra Low account.
For trading as ECN account, XM just charges $6 for the commission. They guarantee to pay you back any rebate after accomplishment of a lot or transaction. In detail, with each completed transaction, customers will receive from $3 to $10 (from 0.3 to 1 pip) in return. Because of this, XM’s actually reduce transaction cost to far lower than FXCM and Forex.com ones. Furthermore, you also get the chance to enjoy a deposit bonus from XM, continuously reduce the transaction cost and earn up to $5000 from the bonus.
Those are the reasons for numerous professional traders to take XM as the ideal broker for long-term trading.
From a neutral point of view, there are no differences in the ordinary spread and commission provided by XM and other brokers. But, because of the deposit and lot-back bonuses, XM becomes distinguished and out-standing for those who want to earn more profits.
What a deal! Open a free XM demo account and try it out now.