Contents
In addition, the low spread “Ultra Low Account” from XM is also available to traders for $50. XM Broker is a good broker that offers more than 1000 assets. This broker been good but now things have changed, I deposited but my money never appear in my xm account, they told me to wait 5 days but it worse now. No deposit bonus they will allow you to make money for them and claim you broke a rule. This is the biggest scam company, please use reputabke brokers.
XM account structures are great for all traders but are well-suited to beginner traders as they are commission-free, require a low minimum deposit, allow micro lot trading and include negative balance protection. The brokers primary video series is free to view and learn from for everyone interested in online trading, while access to the Intermediate video tutorials are only available for clients with an XM real account. When qualifying for free VPS, the broker will also take into account any other trading account that a client registered by using the same email address. Yet, XM does not offer very wide range of trading instruments for European clients, mainly all are offered on CFD basis, while the range is larger for international traders along with various trading offerings too.
Should the deposit currency be different from the transfer currency, the transfer amount will be converted by XM into the transfer currency at the prevailing exchange rate. On connecting for the first time, you may receive a security prompt where you will need to confirm that you wish to connect despite any standard warnings. This Leverage does not apply to all the entities of the Group.
XM Forex Broker
Trading fees for CFDs are low and there is no withdrawal fee. On the other hand, forex and stock index fees are average and the broker charges an inactivity fee. XM legal entities Country of clients Protection amount Regulator Legal entity EEA countries €20,000 Cyprus Securities and Exchange Commission Trading Point of Financial Instruments Ltd. Australia No protection Australian Securities and Investments Commission Trading Point of Financial Instruments Pty Ltd.
ZERO – account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $100. Traders in the XM Standard Account face higher costs, where the EUR/USD commences from 1.6 pips with an average of 1.7 pips or $17.00 per 1.0 standard lot. It is more than twice as high as the XM Ultra-Low Standard Account, which is a cost that traders must consider when selecting their account type.
The trading platform is characterized by its flexibility and user-friendliness. In addition, customer funds are https://forex-reviews.org/ managed in different investment-grade banks. XM is only doing business with regulated payment providers.
In the “Standard” and “XM zero account”, there are normal lot sizes. The difference between these two accounts lies in the fees and the possible currency of the account. For example, you can choose 7 different currencies for the standard account and xm forex review only 2 for the “XM zero account”. Spreads are much lower in the “XM zero account” and start at 0.0 pip. But you have to pay a commission of $ 3.5 per $ 100,000 traded. Overall, the “XM zero account” is still much cheaper than the standard account.
It is not uncommon that traders to even need to access external software. This will not be necessary with XM, because the Metatrader offers all-important charting and analysis options. Choose between more than 4 different chart types in the software. XM is very broad with over 1000+ tradable instruments.There should be no lack of choice here for a trader. As mentioned above, a variety of stocks, commodities, currencies , precious metals, and energies are offered for trading. Especially stock trading is a huge advantage with XM, assets from more than 14 different countries are available.
With the MetaTrader, you can adapt your trading to any trading style. Whether long-term or short-term hands, the Metatrader always delivers the right settings. Robots or automatic programs are also allowed with this program. I have real evidence of them manipulating prices, leave alone having problems with withdrawals. Just be warned, I wouldn’t recommend it to anyone, but until yesterday it was my best broker.
They are trying to gain time by answering always the same without answering directly to my questions or trying to give any solution to the problem. In addition, a range of MT4 and MT5 Mobile applications for both Apple and Android Operating Systems seamlessly allow access to an account with full account functionality from a smartphone or tablet. Five energies, including natural gas, are available to trade.
For a commission-free trading account, the XM Forex fees represent an excellent pricing environment. There are no deposit and withdrawal fees, but there is a minimum deposit amount of 5USD. An added bonus is that transfer fees are paid by XM; they also give the option for traders to fund their accounts through their local banks.
Due to this server, XM works efficiently and can broker without any technical downtime. The VPS also improves the XM services provided across the globe. Being regulated by the European Union, XM works under ESMA’s compliance, which is why it no longer offers the $30 deposit bonus to EU traders. XM broker can trade with 1000 financial instruments through its platforms.
XM achieved a great focus on the Client’s needs while offers very competitive conditions and a range of services that attract global traders. Along time, we see great development of the company and its awards too, before company received awards from time to time, now they are on a regular basis. Other account types vary in their minimum deposit requirements by region. A demo account is a virtual balance account.You can use it to try out all the features of Broker XM and trade without risk. It is also a great way for beginners and advanced traders to develop their own strategies or test new markets.
XM Ultra Low Account
You can also look through your past commissions, fee reports, and portfolio history. It also does not require a two-step authentication process, but the website of XM does. In this XM review, we will focus on the main features and elements of the XM brand. Whatever your interests, chances are you will find something to trade.
- XM currently has more than 300 professionals, each of whom has long-year experiences within the financial industry.
- From auto trading services to commissions spread, this XM review explores how this CFD and FX broker service registers its proclaimed 99.35% efficiency across its activities.
- Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips, and has a minimum initial deposit of $50.
- With XM, there are many perks in opening an account, but the most important benefit for any trader is that traders are welcome to open an account, without facing any trouble whatsoever.
The MICRO account allows you to operate with micro lots, a lower level of risk and it has a minimum initial deposit of $5. Inimum deposit required is just $5 whilst you can choose between no commission accounts with marked up spreads or pay a $3.5 commission charge to get variable spreads starting from 0 pips. Leverage depends on the financial instrument traded and on client’s country of residence. XM offers four Islamic, Swap-Free account options – Micro Swap-Free, Standard Swap-Free, Ultra Low Swap-Free, and Shares Swap-Free. XM Extended Swap-free status by default to all applicable trading accounts created by clients in non-Islamic countries.
XM Live also provides daily competitions where you can win prizes. The podcast is in English, Monday to Fridays, from 4PM to 5PM GMT. Traders can reach the XM customer support service 24 hours a day, five days a week, GMT time. As an added bonus, the customer service support provides over 30 languages, so there would not be any language barrier throughout the interaction.
In saying that, there are some unique trading strategies that I found inspiring and learnt some new things to implement into my own trading. Overall, XM can be summarised as a trustworthy broker that is regulated by one tier-2 regulator and one tier-3 regulator. If you have a complaint, XM encourages you to contact either your Client Relations Manager or the Customer Care Company.
Trading Conditions
There is also the ability to place trades via the telephone for those who prefer this method. It is important to note that XM uses variable spreads, as does the interbank forex market. By offering variable spreads, XM is able to eliminate the need for an insurance premium. That would be necessary for fixed spreads since they tend to be higher than the variable spreads. There is access to 18 cash indices CFDs and 12 futures indices CFDs.
Traders in Europe and the UK don’t have the option of an Ultra-Low Account but do have the Zero Account which has a different cost structure. On Average, the pip difference between the Ultra-Low Account and the Zero Account is about 7 pips. The round-trip commission is $7.00, so the cost is about the same.
The main branch located in Cyprus regulated by CySEC, yet offices are truly cover global needs and serve through Australia, UK, Belize, Greece also authorized in Dubai and MENA region. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. XM allows scalping as well as trading during time of increased volatility.
Guaranteed Fills – 100% Execution Rate, No Rejection Of Orders
XM Group allow you to trade on great selection of financial instruments including forex, stocks, cryptos, commodities, indices, metals and energies. With a wide range of trading instruments available from a single multi asset platform XM makes trading easier and efficient. Along with good customer service, every client can access numerous educational materials through XM Learning Center, fulll of trading data and other necessary information that brings trading to a better level.
For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings. We aim to help you find the best broker according to your own needs.
You can be able to maintain your Micro or Standard Account, and open an additional Zero Account. There are two types of trading platforms that offer mobile services, MetaTrader4 and MetaTrader5. There are many languages that are available for you to choose from, so you do not have to worry about not finding the right one.