The XM broker first began in 2009 and has since served clients from over 196 countries with a support staff that speaks 30 languages, making it one of the most trusted Regulated Brokers.
The primary branch is headquartered in Cyprus, which CySEC regulates. Still, offices cover worldwide demands and servicing through Australia, the United Kingdom, Belize, Greece, Dubai, and the MENA area.
Approximately 1.5 million traders and investors choose XM for its wide range of XM trading products and services and advanced trading solutions that are also suitable for beginning traders.
The reason for such rapid growth and trust in the broker is that XM strives to provide its clients with one of the best user experiences in the industry.
|Regulated||CySEC, ASIC, IFSC|
|Trading Platforms||MetaTrading software platform, web, and mobile|
|Assets||Stocks, CFDs, Forex, Commodities, Metals, Cryptocurrencies|
Safety At XM
When selecting a broker such as XM, it is essential to consider the broker’s administrative body and regulatory status.
Brokers who trade without the oversight of a regulating organization do so at their own risk. Any money you put up for investment is at risk. XM was founded in 2009 and has been in business for 12 years.
Its headquarters are in Cyprus. XM is a controlled substance. The International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC) regulatedcXM.
Regulated brokers will not manipulate market pricing. This will be honored if you make a withdrawal request to XM.
If XM breaks any regulatory guidelines, its regulated status may be revoked. Client money is held in investment grade banks in segregated accounts.
They are also covered by the Investor Compensation Fund, which guarantees the recovery of monies up to €20,000 if the broker becomes bankrupt (note that the coverage scheme depends on the particular entity).
Furthermore, as a trader, you will benefit from Negative Amount Protection, which ensures that you will not lose more than the available balance.
XM Deposit And Minimum Amount
When creating an XM trading account, you require a minimum deposit of 5 GBP/USD/EUR.
A minimum deposit is the amount of money XM requires to create a new online brokerage account.
Don’t get put off by brokers requiring a minimum deposit to open a trading account, such as XM.
Brokers with higher minimum deposit requirements frequently provide extra premium services that are not available for free on other platforms.
Brokers with lower minimum deposits typically aim for a broader audience that does not require specialized services and research tools.
Brokers who do not need minimum deposits frequently attract new clients. Because they must earn a profit, transaction commissions and other trading fees may be greater with a low minimum deposit account.
Brokers with a higher minimum deposit amount typically provide a broader selection of trading facilities on their platforms.
These brokers frequently include more comprehensive technical analysis, research capabilities, and superior risk management measures.
Along with exceptional customer service, every client has access to a wealth of instructional materials, including trading statistics and other pertinent information, via the XM Learning Center, which helps elevate trading to a higher level.
In this sense, XM went above and above with tremendous respect and widespread education support across multiple locations to educate traders.
Indeed, you should never neglect education and personal development, as individuals who have data can make much better judgments, and XM will also help your efforts in this area.
With XM, you can expect excellent learning determined by your level, such as Live Education programs, Educational Videos, Forex Webinars, and regularly organized Forex Seminars in various locations.
Furthermore, you get well-organized lessons, videos, and tools at your disposal.
You will also find it in order in terms of research tools and market materials. In addition to News Feed, Technical Summaries, and Technical Analysis, it offers Fundamental Analysis and Trade Ideas for traders.
We also enjoy how XM arranges its research tools. As you will find everything you need for wiser trading decisions in one location, including Forex Calculators, MQL5, and even more.
Subscribers may also access special technical indicators compatible with both platforms, allowing them to undertake algorithmic trading.
Overall, XM makes it simple by allowing you to pick your chosen trading method.
You can do it through either account, trading smaller sizes with Micro Lots or trading standard size with Standard account based on a spread alone basis.
Finally, Zero Accounts will provide you with another fee method. The spread is an interbank quotation begin at 0 pips, and substract the trading charge as a commission.
Its Zero accounts include commissions and you can also only trade in three main currencies.
In contrast, with Standard and Micro account, you do not need to pay commission. And also you can trade with more than five different currencies allowing you more flexibility.
Customer Service Of XM
As for customer support and service, it supports trading demands internationally.
The customer service staff is accessible in foreign locations and speaks more than 25 languages, including Chinese, Russian, Hindi, Arabic, Portuguese, Thai, Tagalog, and others.
Customer assistance is accessible 24 hours a day, five days a week, and maybe reached through email, phone, or live chat.
Also, we discovered that the service is of high quality, with trustworthy responses, confirming XM’s client-centric philosophy.
XM Review, is a broker with multiple licenses offering transparent terms and also incredibly consumer-friendly broker.
The policy of no re-quotes, hidden costs and negative balance protection make it extremely comfortable.
This is because of the tight real-time market execution policy, which makes it quite welcome among trading offerings.
As a result in terms of pricing, trading conditions, and overall prospects, it is a human broker.
How long will it take to get my money when I withdraw my money from XM?
While the XM Accounting team processes withdrawal requests swiftly (between 1-3 business days), the nation to which the money is remitted has different regulations and policies. The money will be available on your account within three working days if you use a conventional bank in the EU. However, specific ways or institutions may process virtually instantaneously or take longer, depending on the payment method you choose.
Do I have to pay commission with trades made in XM?
The commission cost is only applied to XM Zero Accounts since you will be trading using interbank spread quotes starting at 0 pips and a commission fee as a trading fee. XM uses clear terms and a competitive price of $3.5 per lot for 100,000 USD exchanged. You may also use the XM charge calculator to grasp your expenditures better.