How To Start Trading With XM Broker (My Review)

XM

What’s up Traders, in this article, we’re going to be talking about How To Start Trading With XM Broker (Forex, CFD & Crypto).

The XM broker began operating in 2009 and currently serves clients from over 196 different countries. Its support staff speaks 30 different languages, making it one of the most reputable Regulated Brokers. 

The primary office is in Cyprus, which is under CySEC regulation, but there are also offices in Australia, the UK, Belize, Greece, Dubai, and the MENA region, as well as locations that are authorised to serve customers worldwide.

The vast selection of XM trading products and services that the broker offers, along with cutting-edge trading solutions, are chosen by about 1.5 million traders and investors at XM. 

These products are appropriate for both experienced and novice traders. XM strives to give its customers one of the greatest user experiences in the market, which is the cause for the broker’s rapid expansion and increased trust.

With XM, an account may be started regardless of trading expertise or net capital with just $5. 

Additionally, XM supports webinars and research materials while also taking a worldwide perspective and discovering new markets. This enables traders from different nations to interact and begin a career in trading.

In general, all account opening, management, depositing/withdrawing, and trading procedures are clear-cut, easy to understand, and transparent, as we will see in more detail in the XM review.

XM, which is billed as the next-generation broker for online FX and commodity trading, is appropriate for both novice and experienced traders. 

Traders have two options for getting started: a genuine account with the trading programme or a demo account platform with $100,000 USD in fictitious money.

Auto trading, no additional costs or commissions, and quick order execution—99.35% of which happen in under a second—are some of the highlights of this specific broker service.

 

Company Information

 

  • XM Trading Platform
  • Markets & Assets
  • Commission & Spreads
  • Leverage
  • XM Mobile Apps
  • Payment Methods 
  • Demo Account
  • Promotions & Bonus Offers
  • Regulation & Licensing
  • Extraordinary Qualities
  • XM Account Types
  • Benefits
  • Drawbacks
  • Trade Times
  • Contact Information & Customer Support
  • Security & Safety
  • XM Overall Conclusion

A collection of licenced online brokers is known as the XM Group (XM). Established in 2009, Trading Point of Financial Instruments is governed by the Cyprus Securities and Exchange Commission (CySec 120/10).

The Australian Securities and Investments Commission oversees Trading Point of Financial Instruments Pty Ltd, which was founded in 2015 and is governed by it (ASIC 443670).

The Financial Services Commission (000261/309) oversees XM Global, which was founded in 2017.

2019 saw the establishment of Trading Point MENA Limited, which is governed by the Dubai Financial Services Authority (F003484).

The marketplace boasts more than 1.5 million users and traders from 196 nations. The core values of XM are to be large, just, and human. 

The business takes great satisfaction in offering each client a customised experience regardless of their investing objectives.

 

XM Trading Platform

Both actual and practise accounts can access XM’s two trading platforms. The stop, limit, market, and trailing orders are supported by the multi-award-winning MetaTrader 4 forex trading platform.

The multi-asset trading platform MetaTrader 5 also provides access to stocks, stock indexes, and precious metals. 

An effortless and simple mobile trading experience is made possible by the fact that both platforms are compatible with Apple and Android devices.

Additional, optional tools are available in the trading section, such as trade volume statistics or an economic calendar.

 

Note: I’ll earn a referral fee (No any extra fee for you) if you sign up with them. But they are reliable in my opinion (as of this writing). I always want and find the best for you so that you don’t get into trouble.

 

Markets & Assets

This broker offers more than 1,000 trading options on the MT4 and MT5 platforms, including forex trading, CFD trading on stocks and commodities, CFD trading on equity indices, CFD trading on precious metals, and CFD trading on energy.

The key USD, GBP, EUR, and JPY pairs are among the more than 55 pairs that are available for forex trading.

Cryptocurrencies and binary options are not available on XM.

 

Commission & Spreads

Depending on the type of account opened, spreads change. A Micro Account, Standard Account, or XM Zero Account may be opened. 

The minimum spread for all accounts is 0.1 pip, while a prominent pair like EUR/USD has an average spread of 0.1 pip.

The “no hidden fees or commission” principle is strictly enforced by XM. The only accounts eligible for commission are XM Zero accounts. 

All transfer fees are paid for by XM, and same-day withdrawals are ensured.

 

Get trading with XM in 3 easy steps

Register: Apply online to complete your registration and verification.

Fund: Make your first deposit to start placing orders.

Trade: Your account is all set up!

 

For Create XM Account Click Here

 

Leverage

Leverage varies by instrument and can be anywhere from 2:1 and 30:1. This is totally customizable, and XM gives its customers the option to control their own exposure to leverage risk. 

Margin requirements don’t change on the weekends or at night. They stay the same all week.

Customers registered with the group’s EU-regulated entity are eligible for this leverage.

 

XM Mobile Apps

The Apple iPhone, Apple iPad, as well as Android tablets and phones, are just a few of the Apple and Android devices that support XM. 

Fingerprint authentication is really simple and convenient. Their apps are available for download from the Google Play Store and the Apple App Store.

They are both fully functional and enable mobile trading and monitoring. One-click trading is supported on both the PC and Mac desktop platforms.

 

Payment Methods

 

  • Deposits
  • Withdrawals

Users must submit a colour copy of an official identification document, like a passport or a driver’s licence, in accordance with traditional KYC rules. 

They must also present a recent utility bill with a three-month expiration date as evidence of address.

 

Deposits

The initial deposit requirement for Micro, Standard, and Zero accounts is $5.

  • The majority of popular credit cards
  • Electronic payment options 
  • Wire transfers
  • Local bank transfers 

And more can all be used to make deposits.

Any currency may be used as a deposit, and it will be immediately converted into the base currency you chose when starting the account.

 

Withdrawals

The processing time for all withdrawals is 24 hours, and there are no costs associated with getting money out of your eWallet.

 

Demo Account

When it comes to demo accounts, XM excels. With just a few data, users can create a sample account and start trading with a fictitious balance of $100,000 USD. 

The XM demo account is exceptional since it provides the exact same trading circumstances as the live account.

You are free to use your demo account for as long as you like.

 

Promotions & Bonus Offers

To help with trade speed, XM also provides a free VPS (virtual private server) service. 

This VPS is reachable from anywhere and accessible round-the-clock. They are accessible worldwide and make the promise to eliminate downtime.

On the XM VPS website, more details about who may request the XM VPS are available.

Additionally, XM provides commission- and fee-free deposits and withdrawals.

Since XM is an EU-regulated company, it complies with the ESMA’s limit on bonuses, hence EU traders can no longer take advantage of the $30 deposit incentive.

 

Regulation & Licensing

As mentioned above, XM Group owns a number of brands that are regulated by various authorities.

A collection of licenced online brokers is known as the XM Group (XM). Established in 2009, Trading Point of Financial Instruments is governed by the Cyprus Securities and Exchange Commission (CySec 120/10).

The Australian Securities and Investments Commission oversees Trading Point of Financial Instruments Pty Ltd, which was founded in 2015 and is governed by it (ASIC 443670).

The Financial Services Commission (000261/309) oversees XM Global, which was founded in 2017.

 

Get trading with XM in 3 easy steps

Register: Apply online to complete your registration and verification.

Fund: Make your first deposit to start placing orders.

Trade: Your account is all set up!

 

For Create XM Account Click Here

 

Extraordinary Qualities

The abundance of training and educational resources available on the XM platform is one of its main advantages. The portal often hosts webinars for both novices and seasoned experts.

The communal nature of the platform encourages users to learn from their faculty of educators. Additionally, the business released technical analyses and research.

 

XM Account Types

The Micro, Standard, and Zero tiers of trading account are available. Every account permits a maximum of 200 open/pending positions per customer.

Micro Accounts: A $5 USD minimum deposit is required to open a micro account, which can use the base currencies USD, EUR, GBP, CHF, AUD, JPY, HUF, and PLN. 1,000 units of the basic currency make up one micro lot.

Ultra Low Accounts: XM Ultra Low Accounts allow traders to utilise any of the following currencies as their base currency and demand a minimum deposit of $5 USD. 

A Micro Ultra lot is 1,000 units of the base currency as opposed to a Standard Ultra lot, which is 100,000 units. Not all of the group’s entities are eligible for XM Ultra Low Accounts.

Standard: Traders can open a standard account with just $5 USD and choose from the following base currencies: USD, EUR, GBP, CHF, AUD, JPY, HUF, and PLN. 100,000 units of the selected base currency make up one standard lot.

Zero Accounts: Traders using zero accounts must make a minimum deposit of $5 USD, and their base currencies may be USD, JPY, or EUR. 

One standard lot equals 100,000 units of the base currency, just like the standard account. Not all of the XM Group’s entities fall within the definition of zero accounts.

 

Benefits

For those starting out in trading, XM provides a comprehensive education programme on forex.

However, this doesn’t come at the expense of more seasoned professionals, who also have access to superior tracking tools and expert analysis. 

As a business that takes pride in providing excellent customer service, their users are well-served by support that is offered in a variety of languages.

 

Drawbacks

Although the customer support may be great, some people complain that it is only offered from Monday to Friday. 

Another drawback is that the lack of variety among the many account kinds results in a less individualised experience.

The Micro, Standard, and Zero accounts are essentially the same, but other brokers have a more varied offering. Finally, some may find it bothersome as PayPal deposits are not yet supported.

Due to licencing regulations, traders from a certain countries, including as Canada and the United States, are also prohibited from opening an account.

 

Trade Times

XM is accessible around-the-clock, matching the hours of the global Forex market. 

The XM trading hours for phone trading are from Sunday at 22:05 GMT through Friday at 21:50 GMT.

 

Contact Information & Customer Support

The live chat option on XM’s website’s contact page is the simplest way to get in touch with them.

Email: [email protected]

Phone: +357 25029933

 

Security & Safety

The website’s security is not at all obviously compromised. Opening a sample account requires users to validate their email address, but they are not needed to sign up for email updates. 

Documents proving your identity are needed to start a trading account.

The firm privacy policy states that XM has organisational measures in place to guarantee the security of personal data.

 

XM Overall Conclusion

For traders of all experience levels, XM provides a thorough broker service. 

XM is a wise choice whether you are a novice trader learning the ropes or an experienced trader searching for a dependable and effective platform.

The platform is straightforward to use and browse despite the drawbacks with the various account options.

 

Risk warning: Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.89% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

 

Get trading with XM in 3 easy steps

Register: Apply online to complete your registration and verification.

Fund: Make your first deposit to start placing orders.

Trade: Your account is all set up!

 

For Create XM Account Click Here

 

Final words

Okay, so that’s it I’ve come to the end of this presentation, I hope you’ve enjoyed it and if you really do please write a comment and click the share buttons smash it right, and click to subscribe bell to Allow notifications be updated.

Whenever, I publish content like, this and finally any questions or feedback let me know below and I’ll do my best to help, so with this guide, I hope you got value out of this presentation, I wish you good luck and good trading and I’ll talk to you soon you.

 

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