XM Broker Review
- Easy and fast account opening
- Great educational tools
- low deposit amount
- Negative account protection
|Headquarters||12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus|
|Support Number||+501 223-6696|
|Support Types||Live Chat , Call , Email|
|Trading Platform||MetaTrader4/5 and XM Webtrader|
|Minimum 1st Deposit||$5|
|Minimum Account Size||$5|
|Minimum Trade Amount||0.01 Lot|
|Bonus||up to $5,000|
|Leverage||up to 888:1|
|Spread||As Low as 1 Pip|
|Free Demo Account||Open Demo|
|Regulation||ASIC, CySEC, IFSC|
|Commission Info||No Commisson|
|Account Types||Micro , Standard , XM Ultra Low , Shares Account|
|Deposit Methods||Credit Cards, Netteler, Skrill, Klarna, Przelewy 24, Bank Wire Transfer|
|Withdrawal Methods||Credit Cards, Netteler, Skrill, Klarna, Przelewy 24, Bank Wire Transfer|
|Trading Methods||all trading methodes are accepted|
|Number of Assets||more than 1000 assets|
|Types of Assets||Forex , Stocks , Commodities , Equity Indices , Precious Metals , Energies|
|Account Currency||EUR, USD, GBP, AUD, ZAR, SGD|
|US Traders Allowed|
- Easy and fast account opening
- Great educational tools
- low deposit amount
- Negative account protection
- Beginners broker
- Does not accept clients from US, Canada, and Israel
XM Forex broker review.
XM is one of the largest online trading platforms. Highly secure and very reliable, Xm will meet all your expectations for an expert as well as a beginner.
It is possible to open a demo account to take control of the platform!
Since the advent of trading, several brokers have been rushing to offer Internet users a better service and a better trading experience. But when it comes to learning how to trade, few traders invested really in promoting the integration of newbies. And when we see all the effort that the XM broker makes to educate new investors, we can only congratulate them.
Created since 2009 and available in more than 190 countries, XM offers a variety of services. It differs from other brokers by the quality of its investment approach. It’s also knowledgeable in the humanitarian aspect, which gives them high-level credibility and reliability.
In this XM broker review, we invite you to discover through this article, all the specifics, as well as the characteristics that make XM, a fair and a good broker.
How does it work with XM?
XM works with different trading platforms that allow its investors to execute their transactions without much difficulty. There are thus up to 16 platforms on which investors can trade more than 700 instruments.
XM broker platforms
XM offers a wide range of Metra Trader 4 platforms, which can be accessed via a single account. The famous MT4 can be installed and run on Windows and Mac operating systems. Also, XM sat up apps that work on smartphones and tablets. They run under Android and Apple operating systems.
They also have a WebTrader 4 platform, accessible via all web browsers. Concretely, they have all the solutions for almost all types of devices or computers.
Yet, the broker offers also the Meta Trader 5 which combines the feature of both the old platform and the enhancement of the new platform.
The novelty with the Meta Trader 5 is that it offers 300 CFD on stocks and allows you to benefit from more than 80 analysis tools.
Finally, FBS broker offers a complete package suitable to all kinds of traders. MT4, MT5 and other mobile platforms that provide access to trading from any location make XM a better choice for any trader.
Why different platforms?
If the XM broker is one of the best in the market, it is because of the different platforms with which it works. The different platforms used by the broker are reputed to be the best in the industry. They are all efficient and are ideal for all kind of traders’ profiles.
XM broker offers the Meta Trader 4, a platform much appreciated around the world thanks to its effective talents as a Forex trading platform. With MT4, you have everything you need to make good online trading. Moreover, XM even makes you happy to accompany the Meta Trader with a much more advanced version: the Meta trader 5.
There is no better than Meta Trader 5 in terms of trading. This platform allows you to have an insight into the market in order to achieve very good trading conditions.
The novelty with the Meta Trader 5 platform is that it keeps you ahead as you receive the latest financial market news. You can then receive real-time information relating to different currencies in order to speculate.
The aim of the XM broker is to provide you with better trading experience. This is why these different platforms are carried out by mobile applications.
XM broker trading tools review
Trading on XM offers a unique chance to profit from an astonishing diversity of financial instruments. More than 700 types of products are accessible and negotiable on its various platforms. They are distributed over the various authorized media: PC, Mac, mobile media iOS and Android. The mobile application turns out to be very efficient and responsive.
XM broker as one of the best online trading specialists offers more than 700 instruments.
On XM, you have the possibility of trading up to 55 Forex currency pairs with major currency pairs, cross currencies and of course exotic currencies.
The trading of all these currency pairs is carried out with a leverage of up to 500: 1 with a very short rate range without the possibility of re-coting.
The broker allows the negotiation of 18 different international stock market indices with CFDs. You can thus have effective access to the entire stock market. You sell or you buy stocks according to their fluctuation.
Commodity trading is also possible with the XM broker. You have the possibility to speculate on 8 agricultural commodities, two precious metals (including gold and silver) and five energy commodities (including oil and natural gas).
In addition to these different instruments, five cryptocurrencies including Bitcoin, Ether, and Dash are also available.
Summary of XM product catalog:
- 55 currency pairs with reduced margins and no rating
- 18 stock market indices
- 734 international shares on the stock market
- 15 raw materials including gold and natural gas
- 5 fundamental cryptocurrencies: Bitcoin and Ethereum for example
In addition to the trading instrument, XM broker offers a wide range of account types.
XM account types
The XM broker offers four different types of trading accounts, including three real and a demo account. The three main accounts are the Micro account, the standard account and XM Zero account.
These different accounts allow traders to access the user dashboard and download different platforms. The accounts are different in terms of size of the contract, the leverage, and the initial deposit.
It should be noted that a trader can have up to 8 trading accounts.
So what are the account we should include in this XM forex review?
The Micro account
The Micro account is mainly intended for traders who wish to speculate on currencies with the least possible risk. Beginners can rejoice in this type of account, as it offers the possibility of opening the account with only $ 5 as a minimum initial deposit.
On this account, spread starts from 1 pip without any extra commission with a restriction of 100 lots. Its leverage is from 1: 1 to 1: 100 out of the 200 possibilities.
The standard account
The standard account is suitable for professional players. This is just an extension of the Micro account. It then has the same leverage and the minimum deposit.
However, unlike the Micro account, the standard account offers a better chance of trading with 100,000 lots. Concerning spread, it starts from 1 pip without any extra commissions.
Customers can have up to 200 positions simultaneously with a restriction of only 50 lots.
The XM Zero account
The number of lots authorized on the XM Zero account is 1000 lots. It includes negative balance protection.
Here, the spread starts from 0 pip. Traders can open up to 200 positions simultaneously for a minimalist trading volume of 0.1 lot with a maximum of 50 lots of restriction.
The minimum deposit of this type of accounts is $ 100.
XM broker has obviously thought of all types of traders on its platforms, including beginners. Thus, once you access the broker’s platform, a demo account is made available to you so that you can have a successful start and get to know XM.
In addition, it allows you to test your trading skills and improve your skills as needed. With the XM Demo account, you trade with virtual money and you protect yourself from any risk while learning how to trade.
Deposit and withdrawal review.
XM accepts the most commonly used banking methods today, including credit cards, electronic payments, bank transfers, local bank transfers, MoneyGram and Western Union.
Their coverage is quite extensive and adds more flexibility when adding funds to an account.
XM broker security review
Regulation is one of the cornerstones upon which the XM broker was built. Like any good financial broker, its platforms aim to be secure.
The broker has everything you need to operate safely. For this reason, XM has accreditation from the Financial Conduct Authority (FCA). In addition, it has authorization from CySEC and CONSOB.
These regulations, therefore, indicate that XM broker is secure both for deposits and withdrawals. The e-wallet used is also 100% secure and the bank payments are of incomparable transparency.
This level of security is possible thanks to SSL (Secure Sockets Layer) technology. SSL protects the individual data of users.
Finally, the platform is governed by the Investors In People, a British structure focused on improving human resources services.
XM Promotion types
XM Forex broker guarantees that your account will be increased by 50% for any deposit below $1,000. Thus, if you deposit, for instance, $50, then you will get an additional bonus of $2.50. And your trading capital will reach $7.50.
However, the maximum amount of the bonus that might be received equals $500. That means that you are granted a 50%-bonus only until your deposit does not exceed $1,000.
Once your deposit amount is more than $1,000, you will still have that 50% added on the first $1,000 of your deposit. Also, 20% will be given as a bonus for any amount more than that.
This means if you deposit an amount of USD $22,500, your account balance will become USD $28,500.
In addition, XM offers $30 no deposit bonus. All traders can benefit and start trading. Also they can test XM platform without any significant risk.
XM can be easily contacted by phone, fax, email or live chat. This means that traders have the opportunity to reach them through almost all possible channels; save time and effort.
When you contact them, the wait time will be less than 10 seconds, and their responses are mostly quick and very clear; so the conversation only lasted a few minutes.
The previous point that we just skimmed over clearly reveals that XM broker is one of the excellent Forex brokers on the entire financial market. All opinions are therefore in favor of the company.
Many traders say that XM has all the qualities and requirements of an excellent broker. Besides, the platforms offered are really to the standards of the norms. We can state for example Meta Trader 5, a real ally of elite traders.
It is also necessary to emphasize the security aspect of the broker, which is really efficient.
Finally, we can only recommend this broker to traders who are still hesitant.
XM broker review conclusion
Finally, in this XM broker review, we can say that this online broker provides a quality, ergonomic and personalized trading experience. The platforms offered are very good and allow you to trade anytime and anywhere using MetaTrader 4 or 5 and many mobile applications.
It offers a wide variety of assets and attractive variable spreads. Deposits and withdrawals are quick, secure transactions, and flexible trading conditions.
The following are the pros and cons of XM broker.
- Customers have daily access to free-market research
- unlimited access to online seminars.
- Tutorials and videos that allow you to improve and refine your investment strategy.
- Clients benefit from trading signals based on an in-depth technical analysis of the market in real-time.
- Daily and free analysis are given for the main assets as well as daily market outlook.
- Direct help available 24 hours a day, five days a week.
- Customer service can be contacted via email, live chat, phone call.
- It is a platform dedicated to all types of traders, from beginners to experts.
- It accepts a wide range of payment methods.
- The “demo” account is unlimited and allows you to practice trading.
- The minimum deposit is very low with only $ 5.
- There are no commissions and no hidden fees.
- Withdrawing money is quick and easy.
- The interface is welcoming with a well-organized and modern layout that is easy to use.
- deposits via PayPal are not accepted.