Touted as the next generation broker for internet currency and fx trading, XM Global Webtrade is great for novice and experienced traders alike. Traders can begin using the trading software real account, or test the waters using a demo account system using 100,000 USD of virtual money. Highlights of this specific broker service include automated trading, no hidden charges or fees and fast order executions, with 99.35 percent happening in under 1 minute.
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The XM Group (XM) is a regulated internet brokering company. Launched in 2009, Trading Point of Financial Instruments is governed by the Cyprus Securities and Exchange Commission (CySec 120/10).
Established in 2015, Trading Point of Financial Instruments Pty Ltd is
governed by the Australian Securities and Investments Commission (ASIC 443670)
Created in 2017, XM Global is governed by the International Financial
Services Commission (IFSC/60/354/TS/19).
More than 1.5 million consumers in 196 countries have traders on the site. The XM ethic is about being equal and human. The business is proud of issues such as outstanding client service and a tailored solution towards each customer, regardless of their investment goals.
XM Trading Platform
XM provides two trading platforms that are available from both the real and practice account. The multi-award winning MetaTrader 4 is mainly a foreign exchange trading platform which supports stop, limit, trailing and market orders.
The MetaTrader 5 platform is a multi-asset trading platform that also provides access to shares, stock indices and precious metals. Both platforms are offered on Apple and Android gadgets, making for a smooth and easy-to-use portable trading experience.
The trading area provides additional, discretionary tools, including economic calendar or trade volume statistics.
Assets / Markets
This broker has 1000+ financial instruments that can be exchanged on the MetaTrader4/MetaTrader5 platforms, including Forex Trading, CFD securities, CFD commodities, CFDs of equity indexes, CFDs of precious metals and CFDs of energies.
Forex trading is available on more than 55 pairs including the best known ones such as USD, GBP, EUR and JPY.
XM offers no conditional or futures options.
Spreads & Commission
Spreads vary based on the sort of account started. The accounts offered are Micro, Standard and XM Zero. The minimal spread across all balances is 0.1 pips, along with the average spread for significant pairs like EUR/USD is 0.1 pips.
XM operates a stringent “zero hidden charges or commission” policy. XM Zero accounts are the only one give commission. XM covers all transfer charges and same-day withdrawals are ensured.
Based on the device, the leverage may vary from 2:1 to 30:1. This is totally flexible and XM provides its customers the opportunity to handle their own leverage risk. Margin requirements remain steady during the week rather than expand at weekends or during the night.
This leverage applies to customers enrolled under the European Union regulated entity of this group.
XM Mobile Apps
XM can be found on lots of Android and Apple devices, such as Apple iPhone, Apple iPad and Android tablet computers and Android telephones. Login is super-easy and may be performed via fingerprint.
All of them are fully functional and permit for trading and monitoring on-the-go. The desktop programs for PC and Mac both encourage one-click trading.
In accord with traditional KYC regulations, users will need to present a color copy of an official ID like a passport or a driver’s license. They also will need to extend a current utility bill dated within the previous 3 months as evidence of address.
The minimum deposit number, once registered, is $5 for Micro and Standard accounts, while Zero accounts require a minimum deposit of $100.
Deposits can be made using most known credit cards, wire transfer, online payment forms, central bank transfer and more.
Deposits can be made in any currency and will automatically translate to
the currency you choose when you open the account and select your base currency.
All withdrawals are handled within 24 hours and there is no fee for getting the money out of your eWallet.
XM excels in its own demo accounts offering. Users may set up a demo account with only a couple of details and get to trading using a digital balance of $100,000 USD. The XM demo account is exceptional as it provides precisely the exact same trading conditions like the actual thing.
There are no time constraints on the length of time you can use your practice account.
Bonus Deals And Promos
XM also provides a free VPS (virtual private server) support to help increase the rate of transactions. This VPS is available from anywhere and accessible 24/7. They state that they get rid of downtime and can be found all over the globe.
XM also offers commission and fee free deposits and withdrawals.
As an EU controlled company, XM comply with the ESMA ban on bonuses, so the $30 deposit bonus is no more accessible to traders hailing from the European Union.
Regulation And Licensing
As mentioned above, XM Group has a range of brands covered by various regulatory bodies.
XM Group (XM) is a regulated online brokering company. Founded in 2009, Trading Point of Financial Instruments is regulated by the Cyprus Securities and Exchange Commission (CySec 120/10).
Trading Point of Financial Instruments Pty Ltd was founded in 2015, and is regulated by ASIC – the Australian Securities and Investment Commission (443670).
XM Global was created in 2017 and is governed by the International Financial Services Commission (IFSC/60/354/TS/19).
Among the greatest perks to be found on the XM system is that the abundance of educational and training materials available. The platform hosts regular webinars aimed at beginners and experienced professionals alike. The platform is inherently social, motivating customers to gain knowledge from their group of teachers. The business also published research and technical evaluations.
XM Account Types
There are four kinds of trading accounts, Micro, Standard and Zero. All permit around 200 open/pending places per customer.
- Micro Accounts: They can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as the base currency and can get started with a minimum deposit of $5USD. 1 micro lot is 1,000 units of the currency chosen as the base.
- Ultra Low Accounts: These use EUR, USD, GBP, AUD, ZAR, SGD as the base currency and traders will require a minimum deposit of $50 USD. 1 Standard Ultra lot is 100,000 units of the selected base currency, whereas, 1 Micro Ultra lot is 1,000 units of the base currency. XM Ultra Low Accounts cannot be applied to all members of the group.
- Standard: Standard accounts can use USD, EUR, GBP, CHF, AUD, JPY, HUF and PLN as the base currency and traders can get started with just $5USD. 1 standard lot is 100,000 units of the selected base currency.
- Zero Accounts: They can use USD, JPY and EUR as the base currency and traders will require a min. deposit of $10USD. Just as the aforementioned Standard account, 1 standard lot is 100,000 units of the selected base currency.
XM delivers a full-time education bundle on forex, perfect for people who want to take their first steps to trading.
Nonetheless, this is not at the cost of the more experienced practitioner, that also has access to specialist analysis and unmatched monitoring tools. As a company that prides itself on strong customer support, their customers are well-served with service readily available in several distinct languages.
While the service might be powerful, some users dislike that client service is only available Monday to Friday. Another drawback is the lack of diversity between the various account types makes for a less personalized feel.
Other brokers offer more a different package in their accounts, so the Micro, Standard and Zero accounts are nearly indistinguishable. And lastly, PayPal isn’t currently supported, which is problematic for some.
Traders from particular areas are also prohibited to start an account because of licensing legislation, these include Canada and the States.
In accordance with global fx market hours, XM is available 24 hours every day. Phone trading can be done from Sunday 22:05 GMT to Friday at 21:50 GMT.
Contact Details/Client Support
The simplest way to get XM is via their live chat feature located on the contact page of the site.
You could even email customer service on: [email protected]
Or telephone them: +357 25029933.
Security and Safety
XM delivers a thorough broker support to traders of all levels. Whether you’re just starting out and learning the principles, or whether you’re a veteran trader searching for a trusted and effective platform, then XM is a good option. Regardless of the shortcomings using the various account options, the system is simple to use and easy to navigate.
XM accepts traders from Australia, Thailand, UK, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other states.
Traders can’t utilize XM from the States, Canada, Israel, Iran.