Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Founded in 2009, XM has grown to become a globally recognized broker with over 600 professionals who have been working in the financial sector for many years, serving over 5,000,000 clients from 196 countries and regions. Everyone's access to an advanced and transparent trading environment has been made possible thanks to the work of XM. With XM, traders can get access to more than 1,000 trading instruments, generous leverage up to 1:1000, spreads as low as 0.6 pips, as well as 24/7 customer support service. Here is the home page of this brokers official site:
Five entities of XM are under stringent regulation in their jurisdictions:
TRADING POINT OF FINANCIAL INSTRUMENTS PTY LTD, authorized and regulated by ASIC in Australia, with Regulatory License No. 443670
Trading Point Of Financial Instruments Ltd, authorized and regulated by CYSEC, with Regulatory License No.120/10
XM Global Limited, authorized and regulated by the Financial Services Commission in Belize (FSC), with Regulatory License No. 000261/309
TRADEXFIN LIMITED, authorized and regulated by the Seychelles Financial Services Authority (FSA), with Regulatory License No. SD010
Trading Point MENA Limited, authorized and regulated by the Dubai Financial Services Authority (DFSA), with Regulatory License No. F003484
Note: The screenshot date is January 16, 2023. BE LIFE FX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
XM provides investors with access to the most popular and mainstream financial tradable instruments in the financial markets, with over 1,000 instruments across 7 asset classes, including forex, commodities, equity indices, precious metals, energies, and shares.
Account Types
XM offers demo accounts. To meet different traders' trading experience and needs, it has also set up four different live account types: Micro, Standard and Shares (minimum deposit of $5), and Shares (minimum deposit of $10,000).
The Micro account is designed for novice traders who do not want to invest much capital for their first trading.
The Standard account is suitable for traders with all trading levels and experience.
The XM Ultra Low account is for scalpers and experienced traders who pursue extremely low spreads.
The Shares account is exclusively for share trading.
Leverage
The leverage provided by XM is capped at 1000:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
All spreads with XM are a floating type and scaled with the accounts offered. Specifically, the spread is as low as 1 pip on the Micro and Standard accounts, 0.6 pips on the XM Ultra Low account, and as per the underlying exchange on the Shares account.
As for the commission, Micro, Standard and XM Ultra Low accounts are offered a zero-commission trading environment. While there is an unspecified commission on the Shares account.
Trading Platform Available
XM provides traders with the market-leading and highly acclaimed MT4 and MT5 trading platforms available for PC, Mac, mobile (iPad, Android, iPhone), web, and multi-terminal. Powerful charting capabilities, including more than 50 different technical indicators and intraday analysis tools, are available through the MT4 & MT5 trading platform.
XM provides FX (currency) trading on all of these platforms. After deciding on a suitable trading account during the registration process, customers can select the trading platform of their choosing. The XM MT5 has all the capabilities of the MT4 platform plus 300 extra stock CFDs, making it the ultimate multi-asset platform.
Deposit & Withdrawal
XM welcomes credit cards, electronic payments (Skrill, NETELLER), local bank transfers, etc. The broker does not charge any service fee for deposits or withdrawals.
Bonuses
XM‘s website claims to offer a bonus of up to $5,000. However, you should know that bonuses usually can’t be withdrawn.
Educational Resources
Traders can participate in live education Monday through Friday from 05:00 to 15:00 GMT English to learn about the offered products and services, receive answers to their questions from the hosts, and enter daily competitions to win exclusive rewards. Additionally, XM provides instructional films meant to teach all viewers all they need to know to be great traders.
Customer Support
If you're looking for a broker, pick one that's available whenever you need it. XM's Customer Support is staffed by trained experts around the clock, seven days a week. The answers to your questions can be found on a detailed FAQ website within a matter of minutes, whenever you need them.
If you have any questions that aren't addressed here, feel free to call (+501 223-6696) or send an email (support@xmglobal.com) or just start a live chat.
You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn.
Registered Address: Suite 404, The Matalon, Coney Drive, Belize City, Belize.
Pros & Cons
Frequently Asked Questions (FAQs)
10-15 years
