XM

Finding the right broker is important, along with understanding if they support the platform you wish to use. XM is a company that offers traders the ability to trade a variety of markets using their products and compatible platforms. With over 1,500,000 clients since being founded in 2009, this company has become a mainstay in the market. Headquartered in Cyprus, Australia and Belize, the company supports over 30 languages and offers services for traders of all levels. This article will be an overview of XM and the various services offered, allowing you to see if this is the right fit for you.

XM Facts and Figures 2023

• Bonus of up to $5000. Clients registered under the EU regulated entity of the Group are not eligible for the bonus.
• 30:1 leverage and spreads as low as 0.6 pips. This is the maximum leverage for clients registered under the EU regulated entity of the Group.
• Over 1000 trading instruments
• More than 3,500,000 clients from 196 countries
• Over 2,400,000,000 trades executed with no rejections or requotes
• 450+ professionals with industry experience
• Customer support in 30+ languages
• 25+ safe, secure, and reliable banking options
• 16 full-featured trading platforms
• Negative balance protection feature protects clients from losing more than their balance
• Management visited 120+ cities in different parts of the world to interact with partners and clients.
• Hosted 100s of seminars worldwide to educate traders
• Winner of multiple industry awards including Best Customer Service Experience and Best Online CFD & FX Trading Broker Awards (2020) by Global Business Awards

Instruments CFDs	3000+ Stocks, Currencies, Indeces, Commodities, Energies CFDs”, “Precious Metals CFDs”, Crypto (are not available to all Entities of the Group).
Licenses and Regulation	CySec, ASIC, DFSA and FSC.
Demo Account	Yes
Islamic Accounts	Yes
Trading Platforms	MetaTrader 4/5, Android App, IOS App.
Minimum Deposit	$5
Accounts	Over 5,000,000 clients.
Customer Support	Forum, Phone, Live Chat, Email.
Funding & Withdrawal	VISA, Mastercard, Bank Transfer, Skrill, Netteler, Rapid Transfer, PayPal.

Is XM Forex Reliable?

XM Group (XM) is a group of regulated brokers and it is owned by Trading Point Holdings Ltd. Entities under XM Group have significant experience as financial services providers worldwide. Trading Point of Financial Instruments Ltd was established in 2009 with headquarters in Limassol, Cyprus, Trading Point of Financial Instruments Pty Ltd was established in 2015 with headquarters in Sydney, Australia and XM Global Limited was established in 2017 with headquarters in Belize. XM Group is regulated by the CySEC (Cyprus Securities and Exchange Commission) – Trading Point of Financial Instruments Ltd, IFSC (International Financial Services Commission) – XM Global Limited and the ASIC (Australian Securities and Investments Commission) – Trading Point of Financial Instruments Pty Ltd.”

Reliability with a company is important, especially since it involves your trading and money. Test the brand is one way to ensure that it is the right fit for you, but there are other data points you can review to see if the company has a level of reliability.

First, you can view their about page and see they have a section on being fair, trustworthy and dependable. The company states that, “all client enjoy the same fair and ethical trading conditions regardless of their net capital worth, the size of their investment, or their account type”. This is a positive sign for everyone because not all traders can afford to deposit large sums of money to obtain preferable treatment.

Another page you can visit to check for reliability are the awards the company has earned over the years. This page has the various awards spanning different criteria, which can allow you see what the company is proficient in. The last item is to see how responsive their customer service is. These are the important aspects to look at and it appears XM has much to offer their clients.

XM Trading Accounts

XM Group (XM) offers its clients 4 types of account: MICRO, STANDARD, ZERO and ULTRA LOW with low spreads and a level of maximum leverage that can reach the 1:30. The MICRO account allows you to operate with micro lots, lower level of risk and it has minimum initial deposit of $5. The STANDARD account allows you to operate with standard lots and it has minimum initial deposit of $5. The XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips and it has minimum initial deposit of $100. XM ZERO account has a $3.5 commission per $100,000 traded. Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has minimum initial deposit of $50

*XM Zero and XM Ultra Low Accounts are not available to all the entities of XM Group.

Trading Platforms

When selecting a broker or company to work with, it is important to understand the various platforms they are compatible with. Luckily, XM works with the most popular platforms MetaTrader 4 and MetaTrader 5.

MT4 for PC & Mac

The benefits to using MetaTrade 4 are that it is both available for Mac and PC. If you visit the platform tab of the website, you can see a drop down of the various different ways you can utilize the platforms. XM MT4 features include spreads as low as 0 pips, 1 click trading, and 3 chart types. From the page, you can decide if you’d like to open a demo account or live account.

MT5 for PC & Mac

Also available for both PC & Mac is the improved MetaTrader 5. While there are differences between the 2 platforms, each of them provide a reliable way to access and trade the markets. With MT5, there is a 100% Mac native application, built-in market analysis and trading with spreads as low as zero.

Mobile Trading

Now, as technology has advanced and the markets have evolved, the ability to trade on the go is a must. The trading platforms work on both Apple and Android devices, giving you the ability to change your positions, as well as enter and exit trades. Openings a demo account not only gives you the chance to test the desktop version but also the mobile, seeing if it is the right fit for you.

Which Platform Should I Choose?

Choosing the right platform is important because not all traders are trying to achieve the same thing. Understanding your needs and requirements of the platform are important because you want to be efficient in your trading.

For those of you looking into to MetaTrader 4, this is the predecessor of the newer MetaTrader 5. MT4 enables trading on currencies, CFD’s on stock indices, as well as CFD’s on gold and oil. However, if you are looking to trade CFD’s on stocks you will have to utilize another platform, as MT4 isn’t compatible. No matter your account with XM, you can utilize the MT4 platform if you so choose.

Moving on to MetaTrader 5, this platform gives you a wide range of instruments and allows for the trading of CFD’s for stocks. Once you log into MT5 you can also access the XM WebTrader. Same with MetaTrader 4 it is available across all three of the account types XM has to offer. With the main difference being the stock CFD’s, if you only want to trade Forex then you should be safe with either.

XM Trading Instruments

Understanding the different trading instruments is important because nothing would be worse than opening an account and funding an account, only to find they don’t have what you need. XM has a wide variety of markets to trade and should be able to fit your needs.

Forex

For those looking to trade the Forex market utilizing XM, there are over 55 currency pairs that cover major as well as exotics. The Forex market allows you to trade 24 hours a day, 5 days a week using the different platforms compatible with XM. There’s a complete list of information on their website, but XM certainly has a wide variety of Forex pairs to trade.

Stocks

If you are looking to gain exposure to the equities market, you can trade using CFD’s. The benefits to using XM include cost-effective and direct access to the global equities market, instant access, and the ability to speculate on the direction of the equity. Also, no extra fees apply.

Commodities

XM also gives you the ability to trade commodities, and this is beneficial because you can trade the commodity without actually owning the financial instrument from which the contract is based. You have the same ability to speculate on where the market will go and there are no stock exchange fees. Also, you can short the market and benefit from falling prices.

Equity Indices

Another market covered with XM include the equity indices, which are a popular market for many to trade. With XM, it is a cost effective way to trade and you have direct access o the global equity markets.  Same with the previous few, you can short the market and profit on a drawdown and there are no extra fees that apply. Indices are a popular market and it appears XM makes it easy to access.

Precious Metals

As the markets become volatile the precious metals space begins heating up. With XM, you can trade gold and silver with no-requotes. It can be an attractive investment beyond Forex and there are no extra trading fees. You can trade this on the 16 different platforms with the ability to go both short and long.

Energies

Oil is a widely traded market and with XM you have access to that as well. Known as one of the most actively traded commodities in the world, you can generate income from this volatile market. There are no extra fees as well as no overnight financing on oil CFD’s. Also, there is the ability to trade on margin.

How To Open an Account?

To open an account, the process is simple. You can access the website and click on the top part of the site that says open an account. Before you open a live account you likely want to open a demo account to ensure this is the right fit for you. Not only that, but opening a demo account with XM will allow you the ability to test strategies without risking your hard earned trading capital.

Trading Conditions

The trading conditions include first the spreads. Some of the conditions for spreads with XM include spreads as low as 0 pips, which can put you into profit quicker and save you money. There are over one hundred financial instruments and fractional pip processing. Lastly, clients are given the best execution policy.

For those seeking to use margin, there is 1:1 margin up to 30:1, allowing for the right leverage to fit your needs. There is also negative balance protection, rea-time risk exposure monitoring and not changes in margin overnight. Lastly, the trading hours are 24 hours a day through a desktop or mobile device, 24 hour customer support and real time market information.

Funding & Withdraw

The funding and withdraw process seems to be fairly straightforward with the usual methods in place. Bankcard and local bank transfer are among the options. On average, it seems client can expect funds to take 3-5 business days before hitting your bank account when you select withdraw.

XM.com FAQs

What documents should I submit XM to become its registered user?

You have to submit the following supporting documents to become a client of XM: • A colour copy of any identification document such as a passport • Latest utility bill (not older than six months)

How long does it take to open a trading account at XM?

If you fill in all your details accurately, account creation does not take lesser than 5 minutes.

What are the minimum deposit/withdrawal amounts for a trading account?

The minimum deposit and withdrawal limits are $5 for standard and micro accounts, $50 for ultra low accounts, and $10,000 for shares accounts.

Is it possible to lose more than my deposit at XM.com?

No, you cannot lose more than your deposit amount. If the slippage of certain currency pairs creates a negative balance, XM.com will reset it automatically when you make your next deposit.

How safe is my money at XM.com?

The operator of XM.com, XM Global Limited, gives priority to protecting your funds. XM.com takes the following measures to protect your money: • The company does not use client funds for operational purposes. • It maintains operational funds and client funds in different bank accounts. • The regulator regularly supervises XM.com and an independent auditor audits its financial statements every year.

What happens if I don't use my XM.com account?

If you leave your XM.com account unused for 90 calendar days without making any trades, the online broker will label your account as dormant. It removes pending bonus offers, XMPs, and promotional credits from dormant accounts. It also charges a dormant account fee of $5 every month. This money is deducted from the dormant account every month until the balance turns zero.

What is the maximum amount I can trade at XM.com?

XM.com does not impose any limits on the amount you can trade. However, you cannot trade more than 50 standard lots at streaming prices if you are a standard account holder and more than 100 micro lots if you are a micro account holder. Irrespective of the type of account you hold, you can hold up to 200 trade positions open simultaneously.

Which trading platforms are supported by XM.com?

MetaTrader 4/5, Android App, IOS App.

What is the minimum deposit required to open an account with XM.com?

5 USD

Why Should I Choose XM?

Overall, this platform appears to have many of the features and products traders are looking for. XM Forex is certainly worth the time opening a demo account and exploring the possibilities. Have you had experience with this platform? Leave a comment below and let others see your opinion on the company. Whether it is good or bad, on sort of criticism will help other identify if this is the right fit for them.

XM Alternatives

	Minimum Deposit	Deposit Bonus	No Deposit Bonus	Islamic Accounts
Binary.com	$10	20-100%	$20	Yes
Olymp Trade	$10	50-100%	No	Yes