Check Forex Bonus Lab opinion on XM. Our XM Forex Review will uncover the spreads, licenses, commissions, bonuses, trading platforms and more!
Leverage: 1:888 Licences: CySEC, FSP, ASIC
Min. Deposit: 5 USD Bonus: Free 30 USD
Spreads: from 0 pips US Clients: No
Looking for a good Forex broker? Try XM now!
XM Broker at a Glance
XM is a Forex broker registered in Cyprus and New Zealand. The trading instruments they offer are Forex, CFDs, and futures. Even though it’s a market maker it has a STP execution policy that is reliable and has no re-quotes and no rejections.
XM Forex Accounts Overview
There are three types of accounts: Micro, Standard and Executive. The Micro account is suitable for beginners who are still cautious about trading. It requires a minimum initial deposit of just $5. The Standard Trading Account has the same minimum deposit and the same benefits as Micro Trading accounts, but the difference is that it allows a larger contract size. Executive Trading Accounts are for those who want to take bigger risks for higher returns. Coming together with the option to trade larger volumes, clients that own Executive accounts have to make an initial minimum deposit of $100,000.
Like most STP brokers, XM only charges a spread, not a commission. These spreads can start from as low as 1 pip, depending on the instruments and account types used. Other features that are not widely provided consist of: the choice between fixed spread and variable spread that traders can opt for and fractional pip pricing so prices can be quoted with five digits instead of four.
At XM, quality execution is essential most trades are completed in less than a second, there aren’t re-quotes and all orders are executed.
XM Forex Trading Platforms
From one account as many as eight trading platforms can be accessed. Trading operations are speeded up and users are given a lot of choices in order to trade regardless of where they are.
The obvious choice of the MetaTrader4 platform is available and expert advisors are also included. The comprehensive list of all the trading software is as follows: MetaTrader 4, MetaTrader4 Mac, Web Trader Terminal, MT4 iPhone, MT4 iPad, MT4 Android and Mobile Trader for other smartphones. Another feature that is present is multi-account management, allowing traders to make transactions with multiple accounts at the same time, while providing them with a large number of instruments.
XM Broker Extra Features
They have an impressive number of 37 video tutorials, webinars in 12 languages and seminars held all over the globe. A new trader has a lot to learn by visiting this broker.
XM Customer Support
Account managers are reachable 24/5 by live chat, by telephone or e-mail, providing client support in a variety of languages and with the needed attention.
Customer-oriented support assists both demo and experienced investors make the most of trading by ensuring flawless communications at all times.
XM Deposits and Withdrawals
Deposits and withdrawals can be done through: credit cards, wire transfer, China UnionPay, iDEAL, Skrill, Neteller, SOFORT, WebMoney and Liberty Reserve.
XM Review Conclusion
XM really wants to win over a large number of clients in order to increase its market share. They want to accomplish this by a wide range of accounts for all types of traders, an even wider range of trading platforms and excellent responsiveness. Changing to a new market is relatively difficult for most brokers, but by providing these services, XM proved that they are capable enough for it. In addition their learning center is very well put together and offers an important amount of information that helps new traders find their way. This makes it a great choice for new and experienced traders alike.