XM Review
XM Review
The XM broker started its activity in 2009 and so far operates with clients from over 196 countries with a huge support staff that speaks 30 different languages. The main office is located in Cyprus, but they have offices all around the world. They’re authorized by CySEC- which makes them a reputable company.
Trading solutions by Gain Capital give you the ability to trade fiat currency pairs such as USD/EUR or EUR/AUD and shares indices like S&P500 or NASDAQ100 index. In addition, trading with Gain Capital also provides access to commodities (CRUDE OIL), stocks, bonds, etc.
It’s possible that this rapid growth is due to XM’s dedication to provide the best experience for its users. XM is committed to providing relevant research and trading materials to help traders in different countries gain an understanding of the global markets.
Trading is a unique experience that requires only the cost of opening an account Generally, all procedures of managing accounts and trades are straight forward, simple and transparent; We are providing more information in our XM review.
XM Pros and Cons
XM is a top-tier broker with very low deposit requirements, costs for commissions and spreads are also lower than other brokers. It is user-friendly as well- one of its main features is the amount of time it takes to open an account.
However, XM lacks investor protection outside of European clients or a liquidity pool for its limited portfolio that is available internationally.
Awards
Their focus on the customer’s needs, combined with their competitive rates and global reach have proven to attract traders from all over. With high-quality trading results and industry reputation, they are attracted from all over. Besides this, they have received many honors in the past such as being Europe’s Best Forex Broker for 2016.
Is XM safe or a scam
XM is NOT a scam. We are confident it’s one of the safest brokers to trade Forex and CFDs, given that it has been regulated by FCA and other leading authorities in finance.
Is XM regulated?
Trades on financial instruments can be traded with a broker in Australia and they are regulated by ASIC as well. Link here to learn more about the benefits of using brokers from Australia. In addition to the offshore license, which provides services globally, FSC is monitoring it closely. Despite not being a straight “offshore” like many other companies that offer similar options in the market.
Is XM a reliable broker?
The idea behind this regulation is pretty simple – traders are protected by knowing their clients’ money complies with strict rules and reducing fraud or unfair use. XM Trading is regulated by the SEC, which makes it one of the most reliable brokers.
Likewise, client money and accounts have investment-grade banks and segregated accounts which fall under the Investor Compensation Fund (up to €20 000). One of the benefits you will get as a trader is Negative Balance Protection, meaning that if your account balance ever falls below what was available at any time, there won’t be any risk for loss.
Leverage
At XM, always recommend that you learn more about the right decision when choosing which entity to trade under. They have an education center where you can get information on these things.
Furthermore, your leverage ratio depends on what financial product that you decide to use; for example, European clients of Trading Point Cyprus may have a maximum ratio of 1:2 for some products, if they choose Cryptocurrencies as their trading instrument while others may have up to 1:5 depending on various other factors such as country or jurisdiction.
Leverage in forex can be up to 30:1, depending on which entity the XM follows regulations. You have different levels of leverage with each account type and entity, so be sure to check the specific limits for your situation! Resident rights vary depending on the conditions of your residency. For example, you may have additional financial privileges due to your country or city-specific laws.
Accounts
Trading with an XM account is a lot easier than trading with the standard company accounts. Using your preferred trading style means you can choose from Micro Lots or Standard account, depending on the SPREAD ONLY basis. Additionally, Zero Accounts will offer spread pricing that starts at zero pips and is deducted per lot traded.
Is XM available in South Africa?
Yes, XM is now available in South Africa. The ability to trade worldwide is one of the main benefits provided by XM, a cryptocurrency trading platform. They provide great customer-oriented features that other exchanges cannot offer while also simplifying and speeding up transactions on their system.
Account Base currencies?
XM Account offers a wide range of account currencies. The currencies supported by their XM Account include the South African Rand (ZAR) and Singapore Dollar (SGD). If you want to buy or sell using XM, registration lets you transact without paying a fee for deposits or withdrawals.
Trading Instruments
With XM, there are a lot of products that you can choose from. In addition to being convenient for trading, it has a variety of features so that you can meet your expectations and enjoy the best experience possible.
Do you want to trade globally with XM and get access to 6 different asset classes? You can do this in one account through their forex, stock index, commodity trading, and crypto also. Now they have a cryptocurrency trading section that enables you to trade cryptos like Bitcoin from the same account!
Fees
The fixed spread rates at XM are higher than other forex brokers. It is more flexible for different trading strategies because all costs are included in the spread. They also offer the tightest-spread pricing for your convenience. Before you make a commitment to any broker, it’s important that you see the full picture of their spreads and fees.
Spreads
XM has different account types, which will affect the choice of price and pip spread. The difference in price between exchanges may also depend on the type of XM being traded.
With the example given, if we execute orders at a certain rate from four liquidity providers and it is cheaper with three of them but more expensive. When only filling our order to one source then this constitutes an average trade because 2/4 * pips are less than that which would be paid out in case all trades had been made.
Trades on XM costs $0 unless there’s slippage from executing orders against multiple brokers. When that happens, you have to pay trading fees when prices change. This can happen if not enough traders are available who offer competitive pricing terms across various trading markets within an instrument exchange network and where distance is eliminated through.
What is XM commission?
Zero Accounts are the place to start XM’s trading platform. You will find that the cost of this account is $100 and it starts at 0 pips per trade, so you would pay no commission fee with a value-based pricing model. Additionally, Zero Accounts have free data feeds in order to access all necessary market statistics for maximum success on your trades.
Overnight fee
If you are trading forex, be aware of the XM overnight fee or if there is a swap contract agreement. Every currency has an interest rate that can be calculated by subtracting the spread from 100 basis points.
If interest rates in Japan is 0.25% and America has a rate of 3%, with open positions, you either gain 6.16 USD each day or lose it each day, due to the way that currencies are exchanged – borrowed currency for purchased currencies.
Futures have no overnight charges when the expiry date occurs.
Deposits and Withdrawals
XM’s fund combines a variety of payment methods for traders to use. It also introduces the bank transfer option, which gives clients convenience and more options when funding their accounts.
Deposit Options
Credit cards
There are several options for sending money online.
You can wire the funds to your account, use a credit card through our website and process it manually or pay by using e-wallets like Neteller, Moneybookers Skrill, Western Union.
XM minimum deposit
All the necessary info about your account can be read in their Members Area. Whether you have a Micro or Standard account, user require 5$ to open one. There are also other options for payment such as Zero Accounts and Debit Cards with different requirements depending on your selection of those accounts.
XM Withdrawal
New XM customers were given the opportunity to fund their new account with a bank wire transfer, e-wallet, credit card or debit card. All fees are covered by the company including some of these major options in addition as well as zero withdrawal fee for both deposits and withdrawals.
With XM, wire withdrawals above $200 also include free access to their bank accounts for your personal account.
How do I withdraw from XM Account?
To withdraw funds from your XM trading account, you must contact customer service. They will provide you with answers to any questions or help clarify the terms of their withdrawal process for your convenience.
Withdraw money step by step
To withdraw funds from your XM trading account, simply follow these steps. Contact customer service if you have any questions or if the terms are unclear.
- log in to your account.
- Select Withdraw Funds from the menu tab .
Enter how much you wish to withdraw and choose your withdrawal method before completing the electronic request with necessary requirements and confirming information.
The status of the withdrawal can be checked on their dashboard.
Trading Platforms
XM clients have the ability to trade on both MT4 and MT5, two well-known trading platforms.
Platform Ratings
XM is looking to build a forex company that will provide traders and brokers with an international platform as well as unique features. XM’s choice of MT4 and MT5, because they are so popular in the industry and have high ratings, assures investors that usability is key when choosing their trading software.
They also offer many extensions for those who want to make things easier on themselves or don’t know where to start without having some assistance from experts at hand. This makes it “pull” by providing value through mass adoption among users.
There are no minimum deposit or trade size requirements, and there is no risk of a foreign exchange loss. With flexible funding methods and competitive rates, there is no reason to look further than XM for comprehensive stock trading. And with XM, you can trade anywhere in the world – online or on the go.
All trades are executed in real-time, and there is no need to worry about currency exchange or regulatory compliance issues when trading in the US. And because XM is a full-service brokerage, you can keep track of your portfolio holdings, company news, and research through its suite of tools.
Desktop Trading Platform
XM Trading is a service that allows you to trade on 16 different platforms, catering not only to your device but also including the web and other accounts. Using these features allows the trading process to be easy with Desktop or other versions of XM Trading’s software like MT4 if you want it automated.
Plus using MT5 will provide more options for those who prefer technological trades over manual ones. As such, no matter what kind of devices are being used the customer can expect high-quality services from the long term.
Look and Feel
This app has a clean and good-looking interface which is also powerful! We recommend it to you. You are going to enjoy the look, as well as its powerful features.
Mobile Trading Platform
With the XM MT4 Android and iOS apps, along with the new XM MT5 app, you’ll be able to access your trading accounts – complete with full account functionality. MT4, MT5, and journal offer a variety of charting options so traders can track their performance over the long term.
They offer time-based charts that help to see trends in markets over a period of time and price-based charts which help traders see what’s happened on trading floors across history. The third option is volume-based: it displays how many securities were traded by other users on various exchanges at any given moment in history.
How to place orders with XM?
The best way to place a trade is by using the MT4 and MT5. One-click trading options are available on these two platforms, allowing you to choose from pending orders or market order types for all your purchases. If you want to make an order, then follow these steps:
1) Identify whether the trade is a “buy” or “sell”.
2) You can choose to enter a Pending Order for immediate execution, or select the Market Order option and buy at the last price executed on an order in either best bid or best offer.
Platform trading tools
Step one: On Market Watch, enter the product you want to trade.
Step two: First, click on the symbol “New Order” and choose from waiting orders or market orders under type.
There are three levels of risk, reward, and expectancy.
Customer Support
The XM VPS and Rapid Trade Execution technologies are also available for your use. This allows you to minimize the time your computer spends on trading, along with other benefits such as not needing to spend hours sitting in front of a screen waiting for it all to happen.
The first step to getting your desired technology is having a minimum of $5,000 set aside or equivalent in the bank. If you pass this test and do not want to pay monthly costs – $28 per month, they will still provide VPS service for free.
Education
As a customer service and support provider, we see XM as having one of the best possible services. They offer 24-hour global call or email assistance in more than 25 different languages. Their responses provide efficient solutions every time without fail. It is because of our client-oriented policy which has kept people so satisfied using our services that we continue to grow significantly each year!!!
Research
With updates on the News Feed, Technical Summaries and Analysis, Fundamental Analysis and Trade Ideas for beginning or advanced traders that cater to their needs; XM provides a variety of research tools.
XM offers many research tools in a variety of ways to help their subscribers perform algorithmic trading. Their site streamlines the process for making your own decisions when using every tool available on their site. To top it off, they also offer exclusive technical indicators compatible with both platforms!
Conclusion
For all these reasons, XM Review is an extremely customer-friendly broker that offers a regulated and transparent trading platform.
There are no hidden fees or commissions policy, as well as the Negative balance protection is provided, which makes you comfortable with its instant market exchange system. And what really sets us apart from other brokers is it’s generous terms – one of the most affordable costs and conditions for trading out there!
