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Over a thousand different financial instruments from the XM Group are offered for trading on the MT4/MT5 platforms as well as the XM app. These products include Forex trading, CFDs on a range of assets such as cryptocurrencies, equities, commodities, equity indexes, precious metals, and energy products, as well as other financial products. With an amazing track record of completing over 99% of trades in less than one second, the platform is renowned for its dependable and blazing-fast order execution. More than 10 million traders from more than 190 countries use XM, which also supports more than 25 languages.
Image Copyrights reserved to the XM Website
XM prioritizes user demands by providing a blend of important features, such as security measures, thorough customer service, user-friendly account funding and withdrawal processes, and low-cost structures while adhering to strict legislation throughout pertinent jurisdictions. Because of this special combination, XM is positioned as a wise solution for both novice traders eager to start a trading adventure and seasoned traders looking to enhance their professions.
Table 1: Overview of XM Trader
| Attribute | Details |
|---|---|
|
Official Website |
|
|
Headquarters |
Republic of Cyprus |
|
Founded in |
2009 |
|
Regulators |
CySEC, ASIC, IFSC |
|
Products Offered |
Forex, Commodities, Equity Indices, Precious Metals, Energies, Stock CFDs, and Shares. |
|
Minimum Initial Deposit |
$5 or more, depending on the account type |
|
MetaTrader 4 (MT4) |
Yes |
|
Yes |
|
|
Trading Fees |
Low |
|
Inactivity Fee |
Low |
|
Withdrawal Fee |
Low |
|
Supported Currencies |
CHF, JPY, HUF, EUR, PLN, ZAR, RUB, USD, SGD, GBP, AUD, and more. |
|
Customer Support |
24/5 Live Help |
The XM Group is made up of four trustworthy online brokers, each of which is governed by financial authorities in its specific location. A few of these are:
XM cordially welcomes customers from a variety of nations, including:
And a lot more since they offer their services to people in the majority of other nations it is important to know that XM does not accept clients who are U.S. citizens owing to regulatory limitations. New clients must supply personal and account information, as well as the required paperwork for identity and residence verification, to set up an account. Utility bills or bank statements are often required to demonstrate residency, while national identity cards, passports, or driver’s licenses can be used to validate identity. The verification procedure is shortened and supplied documents receive rapid responses.
For traders who deposit in currencies other than the base currency of their account, XM offers a user-friendly currency converter that uses real-time exchange rates. The process is simple: Users choose their preferred conversion settings by selecting their target currency from the “To” section and their source currency from the “From” dropdown menu. A quick click on “Calculate” after they enter the amount reveals the conversion rate and the sum in the converted currency. This solution simplifies currency exchange processes, guaranteeing hassle-free dealing for international dealers.
The XM Group is a grouping of licensed internet brokers, all of which are governed by trustworthy regulatory agencies:
Table 2: Regulatory Oversight and License Details of XM Trader
| XM Group Regulatory Entities | Regulatory Oversight and License Details |
|---|---|
|
Trading Point of Financial Instruments Ltd based in Cyprus |
Governed by CySEC (Cyprus Securities and Exchange Commission), which protects investors through programmes including the Investor Compensation Fund, and issued a license with number 120/10. Established in 2009. |
|
Trading Point of Financial Instruments Pty Ltd (Australia) |
Regulated by ASIC (Australian Securities and Investments Commission) under license number 443670. Established in 2015. |
|
XM Global Limited (Belize) |
Regulated by IFSC (International Financial Services Commission) with license number 000261/397. Established in 2017. |
|
XM UAE (Trading Point MENA Limited) |
Regulated by DFSA (Dubai Financial Services Authority) with reference number F003484. Located in the UAE. |
Along with other brokers governed by EU regulations, XM Group also protects clients from disproportionate losses and upholds fairness. XM Group is a reputable broker with a history going back to 2009 that is dedicated to providing customer service. This dedication ensures the confidence and safety of traders throughout numerous regions, including Cyprus, Australia, Belize, and the UAE.
Table 3: Awards on by XM Trader
| Year | Awards and Recognitions |
|---|---|
|
2022 |
Best Crypto CFDs Provider at Financial Expo Egypt |
|
2022 |
Best FX Service Provider for 2022 at City of London Wealth Management Awards |
|
2021 |
Best MT4/MT5 Broker by DayTrading.com |
|
2021 |
Best FX Educational Broker in the MENA region by Dubai Expo Awards |
|
2021 |
Best Trading Experience by Ultimate Fintech |
|
2021 |
Best FX Service Provider for 2021 at City of London Wealth Management Awards |
|
2020 |
Best Broker in Customer Service by FX168 |
|
2020 |
Best Customer Service Experience at Global Business Awards |
|
2020 |
Global Forex Broker of the Year at Global Forex Awards |
|
2020 |
Best FX Service Provider for 2020 at City of London Wealth Management Awards |
The variety of trading instruments provided by XM includes several trading instruments often referred to as CFDs or contracts for difference. Trading CFDs, often known as “trading by settlement on balance,” is a very common trading technique. This method is applied to a wide range of assets, including energy, agricultural commodities, industrial goods, precious metals, equity indices, and more.
Trades can be made in these markets with little to no margin requirements thanks to the usage of leverage in CFDs. The primary distinction of CFD trading is the absence of actual delivery of commodities like crops or crude oil. Instead, the price difference between the entry and closing prices of the contract governs settlement.
| Instrument Category | Number of Instruments | Example Instruments |
|---|---|---|
|
Commodities |
8 |
Sugar, Soybeans, Coffee, Wheat, and others |
|
Cryptocurrencies |
31 |
BTCUSD, ETHUSD, XRPUSD, and more |
|
Energy Markets |
5 |
Crude Oil, Natural Gas, and others |
|
Equity Indices |
24 |
JP225, DJIA, S&P500, DAX, and others |
|
Foreign Exchange (Forex) |
57 |
USDJPY, EURUSD, GBPJPY, and more |
|
Individual Shares (*) |
100 |
Amazon, EasyJet, BMW, and more |
|
Precious Metals |
4 |
Gold, Silver, Palladium, Platinum |
|
Stock CFDs (MT5 Only) |
1261 |
Amazon, Apple, EasyJet, BNP Paribas, and more |
57 Total Forex Instruments:
XM offers 57 Forex pairs with a focus on popular currencies like the USD, EUR, JPY, GBP, CHF, and CAD.
These pairs are separated into the Major Forex, Minor Forex, and Exotic Forex categories, each with specific traits and trading conditions.
Four precious metals CFDs are available from XM, divided into two trading categories: “Spot Metals Instruments” and “Futures Trading.”
Two common metals, gold and silver, are classified as “Spot Metals” and can be traded using “Spot Trading,” with different leverage levels and trading guidelines for each type of account.
For Silver, the maximum leverage is 1:400; Swap points may be generated for positions carried over in Gold and Silver.
PALL and PLAT are categorized as “Precious Metal Future CFDs” and are available for trading in “Future Trading.”
Please be aware that forced settlement will occur if positions are held past their expiration date, and rollovers to the following contract month are not guaranteed.
Prices for precious metals are expressed in terms of USD per troy ounce.
For instance, if the price of GOLD is USD 1,800 per ounce and the USD/JPY exchange rate is 110, GOLD/oz. = USD 1,800, or JPY 198,000. As a result, the price of GOLD per gram is around JPY 6,367.
Important Information: Precious Metal CFDs are popular among traders looking to increase their earnings with leverage because they have a reputation for moving considerably soon following news releases.
It’s important to understand the complexity of CFDs before reading further in this review. A “contract for differences” is a complex financial product with significant risk that has the potential to cause traders to lose money quickly. The CFD trading market is notorious for its high volatility, with losses in CFD trading occurring in approximately 75% of client accounts. Without the assistance of brokers like XM, traders may run a higher risk of financial loss. Through its services, XM illustrates the possibility of efficient CFD trading.
XM offers four different types of user accounts and runs its services through a variety of trading account tiers. EUsers can have 200 open positions—active or pending—on each of these accounts at once:
| Account Type | Base Currencies Supported | Minimum Deposit | Lot Size | Accessibility |
|---|---|---|---|---|
|
XM Micro Account |
USD, GBP, EUR, AUD, CHF, HUF, JPY, PLN |
$5 |
1,000 units of base currency |
Available for all |
|
XM Standard Account |
AUD, USD, GBP, CHF, EUR, JPY, PLN, HUF |
$5 |
100,000 units of base currency |
Available for all |
|
XM Zero Account |
EUR, USD, JPY |
$10 |
100,000 units of base currency |
Available for all |
|
XM Ultra-Low Account |
GBP, EUR, USD, AUD, SGD, ZAR |
$50 |
100,000 units (Standard Ultra), 1,000 units (Micro Ultra) of base currency |
Available through select XM Group companies |
XM offers international brokerage services throughout the Forex market’s official hours of 22:05 GMT on Sunday through 21:50 GMT on Friday. Phone trading is available around the clock.
Their $100,000 in simulated funds risk-free trial account has no time restrictions. Fast trading is ensured with a free VPS. XM, which is governed by the EU, abides by ESMA guidelines and has stopped offering EU traders a $30 deposit incentive.
XM covers 55+ currency pairings in addition to services for stocks, forex, commodities, and other CFDs, but excludes binary options and futures.
XM is renowned for providing access to the well-liked MetaTrader 4 and MetaTrader 5 trading platforms. For managing live and demo accounts across diverse assets, these systems are crucial. They provide flexible trading on desktop and mobile devices.
Although XM doesn’t currently have a proprietary mobile app, one is anticipated to be made available in the future, substantially increasing consumers’ mobile trading experiences.
The simple terms of XM Broker’s affiliate program are as follows:
The one-time bonus offered by this partnership program ranges from $450 to $650, depending on the nation of each referred trader. Benefits of Collaboration with the XM Group
In this analysis, the fee and commission structure of XM is completely outlined, illuminating how consumers can manage the financial aspects of their accounts. XM brokers follow industry-standard Know Your Customer (KYC) guidelines for user identification, necessitating the submission of a color copy of an official ID document (such as a passport or driver’s license) as well as evidence of a permanent address in the form of utility bills from the previous three months.
Here’s a breakdown of the fee and commission structure:
The user-friendly trading platforms offered by XM make trading simple.
For testing strategies and experimenting with Expert Advisors, traders at XM have access to a flexible Forex trial account. XM allows traders to customize their sample accounts for a real trading experience, in contrast to certain brokers with predetermined settings. To provide a manageable setting, they are each only allowed to present five demos.
At XM, opening a sample account is simple. Choose your trading platform (MT4 or MT5), an account type, a base currency (from a list of eleven), your investment amount (from a list of ten options), and your maximum leverage (from a list of sixteen options).
The adaptable demo accounts offered by XM are a great sandbox for skill development because they allow traders to hone techniques and gain expertise without taking any risks.
To meet a range of needs, XM Group offers thorough research, training, and cutting-edge platforms.
XM Group distinguishes itself from rivals like FXCM and IG by providing high-quality, diversified content for education and research.
Although the majority of traders rarely require customer service, it’s comforting to know that XM offers timely and beneficial assistance when necessary.
Thanks to its multinational crew that provides support in clients’ local languages, XM’s customer support is well-regarded. Support is offered around the clock, during market hours.
You can get in touch with representatives by phone, live chat, or email. They can speak several other languages, such as English, Greek, Japanese, and Chinese. This makes sure that customers can simply communicate in their preferred language and quickly get the assistance they require.
Table 5: Pros and Cons of XM Trader
 Pros |
 Cons |
|---|---|
|
Low Fees
User-Friendly Account Opening
Educational Tools
Demo Account
Comprehensive Education
Forex Trading Focus
Affordable Access to Analysis
Strong Customer Service |
Limited Product Portfolio: No support for cryptocurrencies and other instruments. Average Forex Fees: Forex fees may not be the most competitive. Lack of Investor Protection for Non-EU Clients. Limited Customer Support Hours: No weekend support. Lack of Account Personalization: Limited differences between account types. Similarity Among Account Types: Micro, Standard, and Zero accounts are similar. No PayPal Deposits: PayPal is not a supported deposit method Regional Restrictions: Certain regions may have platform usage restrictions. |
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1. Is XM a Reputable Broker? With reasonable fees, flexible platforms, and account options ideal for traders of all experience levels, XM distinguishes out as a reliable CFD broker. It operates under stringent rules that guarantee high operational and security standards. XM is not connected to any fraud or unethical practices.
2. Is XM.com a Legitimate Stock Broker?
Yes, XM.com offers a reputable platform for trading CFDs on the stocks of more than 600 international firms, currencies, commodities, and indices. A reputable online brokerage operates here.
3. Is XM Available in the US? No, traders based in the United States (USA) cannot currently use XM. The XM website has a detailed list of the nations it supports.
4. What Is the Minimum Investment with XM? You only need to deposit $5 to get started with a live XM trading account. There are also micro-trading lots available.
5. How Can You Profit from XM Trading? XM does act as a market maker. The broker improves the trading experience for its clients by guaranteeing no requites and quick execution times.
6. Is XM a Market Maker? Successful trading requires commitment. Use the free resources that are offered, such as the tools, webinars, and demo accounts. Explore the materials for beginners on the business’ Research and education platform.
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