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XM Broker Review year is XM a legit broker?

The account application process can be started by clicking on the Green “Open a live Account Here” button located on the brokers’ webpage. All content on is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

The XM ZERO account allows you to operate with standard lots, lower spreads starting at 0 pips, and has a minimum initial deposit of $100. A quick review of the XM mobile apps uncovered why this broker service is much appreciated in the global trading community. XM Group allows its clients to run the MetaTrader platforms’ user versions on their smartphone and mobile devices, MT4 and MT5 mobile apps drive the mobile trading abilities of the users. All these applications are compatible with iOS and Android platforms.

The average round trip cost of trading the benchmark EUR/USD Forex currency pair is 1.7 pips. However, this falls to only 0.8 pips in the XM Zero account. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time. All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam.

xm forex review

I deposited some money which was recieved instantly , did some profit and wanted to withdraw part of it. Some of customer care people called me and asking to send money through upi,Too much worst people. Trading Forex and CFDs with leverage poses significant risk of loss to your capital. Below shows a list of versus pages where you can compare FP to other leading brokers such as FP Markets and Blackbull Markets. Exclusive technical indicatorsare a series of digital resources to use in conjunction with either an MT4/MT5 account. XM offers MetaTrader 4 and MetaTrader 5 with versions of the software available for PC, Mac, WebTrader, iPhone, iPad, Android and Android tablets.

XM Forex Calculators

With advanced analysis and algorithmic trading tools, traders can execute sophisticated trading strategies that are completely automated. The key difference between the two platforms is market access. MT4 is primarily a forex trading platform, while MT5 is a multi-asset platform that permits Share CFD trading. As well as a wider CFD product range, MT5 provides certain improvements over its predecessor with regard to trading and analysis tools. If you’re trading from the UK or Europe and cost-saving is your main concern then the Zero account offers the tightest spreads. The main catch with the Zero account is the higher minimum deposit of $100 and the limited base currency choices being only USD, EUR and JPY.

  • XM offers the advantage of 3 different account types.It can be decided between the “Micro”, “Standard” and “XM zero account”.
  • First, analyze one out of 1000 different markets/assets at XM and decide to invest or open a trading position.
  • Other than this, the Standard and Micro Accounts are essentially identical.
  • They also offer an accurate economic calendar, where it is constantly updated with any live changes in the trading industry.

Even though some spreads might be higher than its industry competitors, the overall fee structure is rather average for Forex products and low cost for CFDs. So all in all registering with XM allows you transparency of money transactions, while you will avoid conversion fees for both deposits and withdrawals while selecting your preferred base rate. However, the point to consider is that – global operation enabled by XM Global Limited established in 2017 is regulated by the Financial Services Commission, allowing to offer its services across the globe. Despite the fact that IFSC is an offshore license, that does not actually implement strict overseeing of the trading processes, yet additional heavy regulation of the XM makinng it an acceptable choice. That said, XM falls behind with its limited pricing, range of markets, and platform offering — none of which can compete with the best brokers in this space. XM Group is a MetaTrader-only broker that offers an outstanding selection of high-quality educational content and market research.

Is it safe to trade on XM?

Fraud company I send bunch of documents, bank statements to prove my issues yet they claim that send money but they didn’t. Glad that I did some research and review about the company. The only concern is to stick to the MetaTrader’s platforms. It would be great to have an alternative terminal using modern technology. For instance, cTrader looks impressive in terms of having everything well placed and informative. Several functions for easy manual trading are more effective there, in my opinion.

Most problem is came out from the bonus account user who against the rule. Average spreads are not published for the commission-based XM Zero account. Ádám worked in banking and investment, and holds a professional degree in this field.

xm forex review

Seven educational videos on a range of common Forex trading topics are also present in their relevant subsection. It supports up to 128 trading accounts, has multiple order types, three allocation methods and provides management and execution in real time. Our conclusion regarding XM’s offering of tradable assets is favorable, with a wide range of asset classes offered that should satisfy most traders. The offering is especially impressive concerning global equities, with an unusually large amount on the menu at the time this review was published.

Markets & Financial Instruments

Similar services are also offered to educate traders on how to become successful in the game. The company further provides its software services with the licensing of MetaTrader 4 and MetaTrader 5 platforms. This is a great way to get xm forex review feedback from industry professionals who know what matters the most to traders. The broker has a wide range of trading instruments for you to choose from including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies & CFDs.

It offers relatively affordable access to expert analysis and advanced market tracking tools. The Micro, Standard, and Zero trading accounts are more or less similar. Currently, the platform does not allow users to deposit money via PayPal. Users from different regions get technical support with the platform’s multi-linguistic support. Users from certain regions, particularly Canada and the United States, are restricted from using the platform due to regulatory non-compliance and regional licensing limitations.

xm forex review

There’s also the chance that only XM offers where Any XM client can hold up to 8 trading accounts of their choice. 8 active accounts with the broker on the different trading platforms offered is a great deal to all investors as it provides variability. The option brought a lot of positive feedback from the clients to the broker and improved the customer experience with XM. XM Group has a low minimum deposit, good customer service, an excellent web & mobile trading platform, low fees, great educational tools, and an easy account opening process. So based on these features, we can say that XM is suitable for beginners.

What is the minimum deposit for XM?

You can use MetaTrader 4 to manage your trade history in the database, including importing and exporting. There is also an internal mailing system and a guarantee of full security and backup. Despite this, banks will calculate interest on positions held during the weekend. As such, XM applies 3-day rollover strategies on Wednesday. XM also has a margin call policy that ensures the maximum possible risk never exceeds the account equity.

Both platforms are also very popular with the retail trading community. Some traders may wish for a deeper choice of platform that is given here, yet a big majority of traders who find themselves considering becoming customers of XM will find the choice on offer adequate. Different funding methods and reliable customer service all contributed to the big name that XM forex broker is having in the forex market.

And the reason they said when I called them was that I was using the same wifi as my brother who also trade. This wasn’t Xm support these were scammers that contacted you saying they are xm while they are. Well I was contacted by XM global representative who told me to invest 150 and in return I would get back $7670.

You will need to provide your financial information, which includes your deposit and withdrawal method options, and you will need to answer several questions about your financial background and knowledge. XM wants to make sure you understand the risks and benefits of trading, before entering into an account. This is considered a huge benefit for XM clients, since they don’t have to worry about the consequences that follow when they want to open or close their account. However, there are serious trading conditions that follow opening a trading account with this broker. XM has offered clients no inactivity fees per month, charging only after 90 days, and there is no deposit fee!

Another great benefit of a VPS is that you can run trading platforms 24/7 without needing your own computer switched on. XM does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The XM Demo account is virtually funded and simulates real trading conditions. XM traders can get in touch with the broker’s customer service team via phone, live chat, and email. Although a good range of contact methods are offered by XM, phone, live chat and email support is not available on weekends and restricted to 24 hours a day, 5 days a week. Although a range of asset classes are accessible via MT4, the trading platform is a good option for those wanting to develop strategies that focus on forex trading.

This XM review also looks at other XM feature like trading platforms, CFDs and minimum deposits. We also take an in-depth look at each broker’s commissions and fees, such as bid/ask spreads – including the average spread data for some of the most popular forex currency pairs. We research other trading costs, such as inactivity or custody fees, minimum deposit requirements, VIP rebates and/or discounts, and a range of other important fee-based data points.

Essentially, the margin percentage will increase as the volume per trade increases. The contract size is 1 share with a minimum trade volume of 1 lot. Clients can have a maximum of 50 positions open and pending, and the lot restriction per ticket depends on the share. For Standard Ultra, minimum trade volume is 0.01 lots and there is a limit of 50 lots per ticket. The main difference for Standard Accounts with XM is that 1 lot is 100,000.

MetaTrader 4

This includes hundreds of seminars that have already been hosted around the world, with more to come. MT4 Multiterminal offers three allocation methods, multiple order types, and execution and management in real time. By offering variable spreads, XM is able to avoid these issues for traders. There are also no restrictions related to trading at the time of news releases.