Sep 26 2019 2
Formally known as a next-generation broker in online forex and stock trading, XM broker has at its disposition a wide array of growing features for forex, energies, stock indices and precious metals trading. Having XM trading experiences means having orders with instant execution, no hidden fees or commissions and relatively small fees, excellent customer support and no re-quotes or rejections of trading orders.
See more XM account types here
Everyone can benefit from XM services; both experienced and new traders can enjoy superior functions with the same trading conditions, be it with a real account or a demo account. With the support of 17 languages available during registration, with a minimum deposit of $5 on multiple forex accounts, and if you want to learn more before starting with the real deal, you can always opt for the non-expiring demo account funded with $100,000 virtual currency. Also, there is no report on XM scam or anything, so it is very safe.
Currently, XM is the only Forex in the industry who offers its 1:888 leverage. With over 60 currency pairs and more than 90 financial instruments can be traded both online and by mobile apps on seven different and advanced trading platforms. With no upper limits to deposit, every XM user can benefit from tight spreads as low as one pip on major currency pairs.
Regulation is the top priority of rating a broker since it proves a broker’s transparency. Most brokers have to go through complicated processes in order to achieve legit regulations, therefore those that possess regulations are ensured to be trustworthy. The US and UK financial management system is famous for their reliability, that is why most traders seek for US or UK regulated brokers to trade with. With the FCA license, XM is bound to be trustworthy since FCA is an UK license. Moreover, XM also has many other licenses from different countries such as CySEC from Cyprus, ASIC from Australia and FSB from South Africa to enhance their public image to customers of these countries. In short, XM is undoubtedly the most reliable in the world.
XM broker leverage and margin
XM clients have the opportunity to trade using the same margin requirements and, depending on XM account type, leverage from 1:1 to 888:1. When you open an XM account, depending on its type, you will be able to choose the leverage on a scale from 1:1 to 888:1. Margin requirements won’t change during the week neither they do during overnight or at weekends. XM also gives its users the option to request either an increase or decrease of the chosen leverage. And to be aware of you Leverage risk, XM lets you keep track and control your real-time risk through monitoring your used and free Margin.
Used margin stands for the amount of money needed to be deposit to hold a trade. A free margin is the amount of money left in your trading account, you can use it to open additional positions and as a support to absorb any losses during trading. And if that isn’t enough, to secure and guarantee your account equity by avoiding your maximum risk exceeds it, XM has its margin call policy, where it notifies its users with a margin call warning when your account equity drops below 50% of the margins needed to maintain open positions.
Check XM leverage and margin here
How much is XM spreads?
Anyone who creates a real account on XM can benefit from XM’s tight spreads, which are available to all clients, irrespective of their account types and trade sizes. XM has both variable and fixed spreads, it operates with variable spreads since fixed spreads are higher than variable spreads, but anyone who pays for an insurance premium can use fixed spreads. Check XM spread here
XM trading platforms
XM offers three different platforms. These are the MT4, MT5, and WebTrader currency trading platforms. The MT4 and MT5 are available in both Windows and Mac, and has support for Android and iPhone operating system, you can enjoy these platforms on every operating system, from PCs to Smartphones and Tablets; many users opt to use the MT5 platform since it’s the newer version of the MetaTrader software, others decide for MT4 since they are already used to it. The main difference between MT4 and MT5 platforms is the assets that can be traded. The WebTrader, as its name states, it is a web-based platform, accessible from any time of the day and anywhere you want from your internet browser, which is preferred by new traders since it has a simple and intuitive interface.
XM accounts: Which one is better?
Depending on your first deposit, you can choose from three different accounts, which are
- MICRO Accounts, recommended for new traders, it requires a minimum deposit of $5, they have available 11 base currencies to trade with, including USD, EUR, GBP, and JPY. Contract size of 1 lot equal to 1000. Leverage of 1:1 to 1:888 spreads on all significant as low as one pip, and other features.
Click to learn more Micro Account here
- STANDARD Accounts, just as MICRO accounts, they can be opened with a minimum deposit of $5, have a contract size of 1 lot equal to 100000, maximum of 200 positions on open and pending orders per client and a minimum trading volume of 1,000 units.
Click to learn more Standard Account here
- XM ZERO Accounts, with a minimum deposit of $100, made for those traders who want to trade with low trading cost as low as 0.0 pip. Although, based on your trading conditions, a small commission will be charged. Other features will remain the same as the STANDARD account.
Click to learn more Zero Account here
Deposits and withdraws with XM
One of XM most attractive features is its payment options since it posses a variety of payment methods. For deposits, XM accepts a variety of credit cards, including VISA, VISA ELECTRON, MasterCard, MAESTRO, Diners Club International, Union Pay and XM MasterCard, each one has support for instant deposits, except for Union Pay which has to wait 24 hours. As for electronic payments, XM supports SKRILL, NETELLER, WEB Money, SOFRONT Banking, PaySafe card and other alternatives. Local Bank Transfer is also endorsed by XM, just like Western Union, Money Gram, and Bank Wire Transfer.
For withdrawing funds, XM has support for all the credit cards mentioned above, SKRILL, NETELLER, FasaPAy and Web Money for electronic withdrawal and, with some restrictions required, various methods for bank transfer.
Check XM payment methods here
Those experienced traders, who have years working with XM, are satisfied and pleased with their work. The staff at XM has the goal to satisfy its user’s need with integrity, transparency, and the determination to serve as well, and many favorable reviews work as evidence that XM has successfully met its customers on the Forex Network.