Join a Global Regulated Broker That You Can Trust
With XM the amount of fees and commission that you have to pay will be dependent on what sort of account you have with them. You have two accounts which are free from commissions – Standard and Micro accounts, while the XM Zero account is based on commission. XM offers instant, or same-day, withdrawals with no fees for verified and connected accounts. Withdrawals via bank wire, credit, or debit card usually take 2-5 business days.
Open Your Account
Users at all levels will appreciate the extensive research and education section on the website. Research is provided by the broker’s Market Overview, XM Research, Trade Ideas, XM TV, Podcasts, and Technical Summaries sections. Education programs offered https://traderoom.info/is-xm-a-brokerage-we-can-trust/ by the company include Forex Webinars, Seminars, Platform Tutorials, and Educational Videos. Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry.
Want to Practice Trading for Free?
- You demand the best trading experience; our awards reflect our desire to provide it.
- This includes over 350 CFDs, as well as 57 currency pairs and 5 cryptocurrency CFDs.
- This is accomplished by always keeping watch and adapt to the latest technologies and industry trends.
- It requires a minimum initial deposit of $10,000 and does not allow hedging.
All in all, there is no doubt that XM has gone global with its deep commitment to providing services in more than 30 different languages across the world. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account. With the micro and standard account types, you are not subject to a minimum deposit, but usually you will have to deposit at least $5 due to system requirements. There is a minimum required deposit of $100 for the XM Zero account type.
Our research team conducts thorough testing on a wide range of features, products, services, and tools (collecting and validating thousands of data points in the process). We test all available trading platforms for each broker – whether they are proprietary or come from third-party providers – and evaluate them based on a host of data-driven variables. According to their website, standard ultra offers a higher minimum lot requirement. XM also presents comprehensive research and educational feature, ranging from daily news, research on market conditions, forex seminars, and live education with 20 multilingual professionals. As a matter of fact, there is a weekly webinar suitable for novice traders.
This wide language support made nearly everyone to engage in easy and secure communication with XM’s dedicated support team. XM also encourages its users to contact customer support whenever they have any doubts regarding the trading platform. Whenever you start to trade in XM trading account, they will always warn or remind you regarding the risks attached when trading with leverage.
XM Broker provides the option to trade in a wide range of assets including precious metals, commodities, stocks, and energy products. When you have registered as an XM trader, you will get a dashboard to view all the instruments available on XM Broker. XM Broker provides rapid processing of payment such as deposits and withdrawals that are supported by many types of transfer methods. In this case, traders can choose to fund their account via bank transfer, credit card, or e-payments like Skrill and Neteller. Another specialty of XM broker is the availability of free (no fee) deposit and withdrawal options.
Enhance your trading experience with the world’s most popular platform and XM’s industry leading execution. Open an account today to access fair conditions and get everything you need to achieve your trading goals. Precious metals, such as gold and silver, are also relatively stable and can be appealing to beginners.
Various Types of Accounts
In the asset library, you can find 1,210 CFDs as well as 57 forex pairs (exotics, majors, and minors). The library can be casually browsed or filtered if you would like to find a specific stock originating from a certain country. Said class asset is spanned into 17 different countries such as Russia, Australia, Austria, Sweden, Finland, Norway, Portugal, Italy, Greece, Spain, Switzerland, Belgium, and the Netherlands. The platform also provides access to 8 commodities through CFD assets. There are 12 futures indices CFDs and 18 cash indices CFDs available.
It’s essential to thoroughly research and educate yourself on any asset class you choose to trade. Additionally, consider starting with a demo account to practice trading without risking real money until you feel confident in your abilities. Moreover, the platform also provides a trader with fractional pip pricing. Fractional pip pricing allows the broker to implement the best prices available from liquidity providers. This allows traders to get tighter spreads and more accurate quotes. You will receive a margin call warning once your account equity plunges below 50% (the required margin to open positions).
Overall, due to a long history of responsible behavior, strong international regulations, and wide industry recognition, we consider XM to be a trustworthy and safe broker. Since I became a pro trader, I believe that fundamental knowledge and risk management are not to be underestimated. The XM management team has spread to 120 cities around the world, aiming to get a better understanding of their clients and partners.
Explore Our Traders’ Favourites
At ForexBrokers.com, our reviews of online forex brokers and their products and services are based on our collected data as well as the observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). So, don’t be confused, if some traders can get very low leverage and higher deposit, they also don’t have a trading bonus, while others can get a lot of bonuses and favorable features. Strict regulatory bodies often come from Australia and Europe as well as from the United States. And the weakest regulator could come from a small country in the Pacific, from Central America or even from a small country in Africa.
Yes, based on your detected country of FI, you can open an account with this broker. I just can’t afford the swaps to eat up my profits if a trade is going good, I am a swing trader so I go for no swaps. Yes sometimes swaps work for you, but it’s not a regular tthing in my XP, so I will go safe with no swaps at all.