Sep 26 2019 4
Within the larger Broker, XM focuses the most on Forex trading. Meanwhile, most of brokers on the Forex market basically introduce general accounts. Although they express the fairness, trustworthiness and dependable, the rejection policy and execution process are not in their offer unless their customer need for second help. The customer reviews on their policies state the true. Hence, the clients using XM are benefited with an XM card. The exceptional feature of these cards is the easy-to-access to their trading funds. Similar to debit card, XM MasterCards has the features such as make purchases and withdraw money at any available ATMs.
What is XM Card?
The basis of XM Cards is the prepaid type which allows card holders to withdraw funds and trading from MT trading account. XM introduces three different card options, including XM USD MasterCard, XM EUR MasterCard, and XM USD Shanghai (China UnionPay)
The advantage of both XM USD MasterCard and XM EUR MasterCard is to allow card holder access to use anywhere with MasterCard logo. Meanwhile, XM USD Shanghai is accessible anywhere with China UnionPay logo.
The ability of transferring between XM Card and MT4 trading account, you are unlimited from accessing funds and trading as possible as never before. The idea of an XM card has solved the companion of any traders. What they should choose further is the card that best suit them.
There is a free card for any clients with the total MT4 XM accounts balance of minimum of $2000. In case of traders have lower balance than the free offer, the issuing charge for additional cards is just $10.
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How to get XM card
It is not difficult to get your hand on an XM card. Once your balance reaches $2000, you can register for an XM card on the homepage XM.com. Just enter your address and a card will be sent to you in no time.
Empowering by Mastercard, debit card issuing by XM is to be able to use anywhere worldwide that accepting Mastercard. The accessing techniques are wide, from online, in stores, or even withdrawing cash from an ATM. There are two options of currency, Euros or US Dollars, offering by this Mastercards.
With your trading balance, you are able to top up your card balance anytime free of charge. Even your card is debit, you have full control of your funds on trading. As long as you need, holding 2 different types of debit cards is available, respectively Euros and US Dollars.
XM and Mastercard
MasterCard is an international payment card of the company MasterCard Worldwide. This is a multinational company headquartered in New York, USA. The identification mark of this card is the "Mastercard" logo which is clearly printed on the surface of each card.
In the forex market, MasterCard is a co-branded card that is agented by forex brokers and associated with the MasterCard company as in the case of XM.
Currently, on the market, there are 3 types of Mastercard cards, meeting the needs of international payment and use for many different subjects.
1. Mastercard debit
This is an international debit card, a form of prepaid card, you can use as much as you can. This card will be linked to your existing bank account.
Applying for a mastercard debit card is very easy. You do not need to prove your income. Usually, just bring your identity card to the bank. The bank will guide you specifically. Some banks also allow online registration and on time just go to that bank to receive the card.
2. Mastercard credit
A credit card can be simply understood as a prepaid card, pay later, issued by the bank based on your monthly salary or assets you have and used within a certain limit set by the bank.
Credit cards have many card ratings such as standard, gold, platinum, etc. In general, the higher the rating you use, the more privileges and services you will enjoy. However, the procedure to make this card is not simple because you need to prove your income or assets to get a card.
3. Mastercard prepaid
This type of prepaid card has more special features than the two types of credit and debit. You can only use the amount on the card and top up as much as you want. You don't need to prove your income to make the card, and it's not linked to your bank account.
Easy Access to All of Your Money
As a matter of fact, most of Forex accounts are limited accessibility to withdraw money due to the missing of physical banks. This link between standard debit card and Forex account is the great idea for trader to access to their money anytime. As long as the acceptance the card brand, you can easily use it at grocery stores, gas stations, and more. You can also can have cash from card withdrawal at ATM.
The transferring process from a brokerage account to another account is limited by some financial brokers. Option of a debit card which linked with your brokerage account will solve this issue. Although the transferring procedure takes from 2 hours to 2 days to be done from a debit card to its linked account, the waiting period is still shorter than other option recently operating.
Check out XM deposit/withdrawal system.
The requirement of a debit card is that the supporting institutes, such as Visa, MasterCard, or American Express. This would help to ensure the safety of money from your account of being stolen. As the cause happens, the issuing company will refund the stolen money.
Who is XM?
XM deserves a place in the list of the best forex brokers in the world. XM was established in 2009. This is also a forex broker with a large number of customers in Vietnam. This broker is very strong in marketing its brand as well as offering extremely attractive bonus programs to attract new customers.
XM regulations: Currently XM Group entities are licensed and regulated by reputable financial authorities including ASIC of Australia, CySEC of Cyprus, DFSA of Dubai and IFSC of Belize. With these licenses, especially ASIC, you can rest assured that XM will not cheat or steal your money.
XM Account: On the XM exchange, there are 3 types of accounts for exactly 3 trading levels of traders. These include the Micro account for beginners to forex trading, the Standard account for experienced traders and the Ultra Low account for professional traders.
XM Trading Cost: As mentioned above, the XM forex broker has an average spread of 0.7 to 0.8 pips for the major currency pairs. The commission charged by this broker is $7 per trade. The margin requirement to open an XM account is only $5 for a regular account and $50 for a professional account. You can keep your trading costs down by using a variety of bonus programs that XM offers.
XM Trading conditions: XM offers more than 1000 types of trading products to its clients. The 2 main trading platforms of this forex broker are MT4 and MT5. They have their own web browser trading platform called XM WebTrader. The maximum leverage of XM is 1:888.
XM Deposit and withdrawal system: XM forex broker offers deposit and withdrawal methods through internet banking systems of banks in many countries, making it convenient, easy and cost-free for domestic traders.
XM Customer support team: XM has a support team that works 24/5. They are available in 20 different languages. The most impressive thing about XM is that they often open courses, tutorials and share forex trading experiences in many countries.
Who else offers forex card?
Actually, XM is not the only forex broker who offers this kind of service. There are other brokers as well. But I only want to focus on the big and famous forex brokers because trading with them is much safer. So if you want an option besides XM, you can check out HotForex card. HotForex is as big a broker as XM and their trading conditions are awesome. Open a HotForex account now and get your HotForex Mastercard for free.