XM is a leading online forex and CFD trading broker that offers traders a myriad of instruments to trade with for traders of all kinds of levels. Started in 2009, XM has established itself as a reputable and trustworthy broker.
Today, it caters to the needs of over 5,000,000 users from all over the world. The credit of their success goes to over 600 experienced professionals. It is because of their long-term financial knowledge that this broker has earned the place of one of the top brokers in the industry. In this article, we will break down the different features of this broker, understand the trading conditions that it offers to its clients, and some of its pros and cons. Let’s get started !
Features of the Broker
Here’re some of the top features offered by XM –
- Financial instruments: If you are a trader who wants to trade multiple markets, XM is the broker you need. You can trade with a wide range of financial instruments with XM. These instruments include forex, indices, commodities, stocks, etc.
- Trading tools: Trading tools are special tools, with each designed for a special purpose, i.e., to help traders make trading calculations easier and faster. XM provides you with access to a range of advanced trading tools. Some of the examples of XM trading tools are economic calendars, market news and analysis, and technical analysis tools. To ensure that its clients have an excellent trading experience, XM provides multiple trading platforms including the popular MetaTrader 4 and MetaTrader 5 platforms, as well as its own proprietary trading platform.
- Regulation: XM is fully regulated by multiple financial regulatory bodies, including the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK. This ensures that your funds are protected by strict regulatory measures. And you can have peace of mind when trading with XM.
- Education and Training: XM also offers a withrange of educational resources and training materials, including trading guides, webinars, and video tutorials. This could help you expand your knowledge and improve trading skills.
- Bonuses and Promotions: In case you don’t have enough capital to get started with trading, XM offers various bonuses and promotions to its clients, including deposit bonuses, trading bonuses, and loyalty rewards. Bonuses and Promotions: In case you don’t have enough capital to get started with trading, XM offers various bonuses and promotions to its clients, including deposit bonuses, trading bonuses, and loyalty rewards. These incentives provide you with an opportunity to boost your trading capital. Moreover, you can trade with a higher degree of leverage, which can help you maximise earning potential. These incentives provide you with an opportunity to boost your trading capital. Moreover, you can trade with a higher degree of leverage, which can help you maximise earning potential.
- Automated Trading: XM supports automated trading through the use of expert advisors (EAs) on its MetaTrader platforms. This allows you to automate your trading strategies and take advantage of market opportunities even when you are not actively trading, or you are too tired to trade.
- Multilingual Support: A good international broker eliminates the language barrier by providing multi-lingual support. XM supports more than 30 languages, providing you with the ability to receive support in your native language. This makes it easier for you to navigate the trading platform, access educational resources, and receive customer support.
XM Group offers different trading conditions to its clients through its various account types. Here is a list of the trading conditions offered by XM:
- Types of Accounts: XM offers several different account types, including Micro, Standard, Zero, shared account, and Ultra Low accounts. Each account type offers different features and benefits to traders, such as lower spreads, higher leverage, and lower minimum deposits.
- Leverage: This broker offers leverage ratios of up to 1:1000 accounts for all accounts, except for shared accounts – where it offers no leverage. Leverage allows you to trade with a higher degree of capital, which can potentially increase their potential profits.
- Lot Size: It supports flexible lot sizes, starting from as low as 0.01 lots. This allows traders to manage their risk effectively and trade with the amount of capital that they are comfortable with.
- Spreads: XM offers competitive spreads on all its account types; for all major pairs, the lowest spread is available in an Ultra Low account – where you get spreads starting from 0.6 pips. The spreads offered by XM are among the most competitive in the industry, providing you with an opportunity to trade with minimal transaction costs. For micro and standard accounts, you get spread as low as 1 pip.
- Minimum Deposit: The minimum deposit requirement of just $5 for all accounts, except for shared accounts. So, if you are a new trader, you can easily get started with trading. In the latter, the minimum deposit requirement is $10,000.
- Currency Pairs: With XM, you can trade a wide range of currency pairs, including major, minor, and exotic currencies. This provides you with a variety of trading opportunities, allowing you to diversify your portfolios and potentially increase your profits.
- Commission: XM doesn’t charge any commission to its clients who hold either Standard, Ulta Low, or Mini accounts.
Pros and Cons
XM is a well-established and reputable forex and CFD trading broker. Offering traders a wide range of financial instruments, this broker has made a name of itself in the international trading market. Moreover, you get access to advanced trading tools and platforms, and competitive trading conditions. XM’s affordability and features make it one of the best brokers out there. In this review, we have discussed essential features of this broker and pros and cons. Before signing up, we recommend you to open a demo account and test out the broker.