XM Review

Review

XM, formerly known as XEMarkets, is a trading name of Trading Point Holdings Ltd headquartered in Cyprus. It is regulated by CySec, ASIC in Australia, FSP in New Zealand, and FCA in the UK.

At XM, investors can access currency trading, along with CFDs, equity indices, precious metals, and energies.

Accounts

There are two accounts to choose from at XM. The Micro trading account is suitable for beginners who wish to generate profits with a relatively low level of risk. More experienced and professional traders with a more in-depth knowledge of the financial markets would prefer the Standard account.

The Micro account has a contract size of 1000 and leverage of 1:1 to 1:888 ($5 – $20,000) while the contract size for the Standard account is 100,000. The same leverage applies.

Both accounts have a minimum deposit requirement of $5, a spread of 1 pip on all major pairs, and a maximum open/pending order of 200 positions.

Clients who maintain a minimum amount of (Equity-Credit) USD 5,000 or equivalent in other currency are eligible to request a free VPS from the Members Area at any given time on condition that they trade at least 5 round turn lots per month.

Free demo accounts can be opened using either of the two accounts and each trading account has access to the MetaTrader4 trading platform. Traders can use demo accounts as long as they want but demo accounts that have been inactive for longer than 120 days from the last login will be closed. However, a new one can be opened at any time.

In addition, Forex Islamic accounts, also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, are offered to clients following the Muslim faith. Islamic accounts can be opened in either the Micro or Standard forms.

XM Trader Dashboard

Features

XM is proud of its history and its accomplishments. Its 'Milestones in our Corporate History' chart goes back to 2011 and points to a background of trustworthiness and corporate involvement.

The XM management has visited over 120 cities around the world to connect with their clients and partners in order to interact with them on a face to face basis. They have hosted more than 100 seminars to educate traders, enabling them to make better trading decisions. These activities have helped XM reach the highest levels of client retention of any Forex broker, anywhere.

In fact, XM prides itself on having over 300,000 real accounts opened to date from 196 countries and over 150,000,000 trades executed with zero re-quotes or rejections, ever.

There are over 100 financial instruments to choose from and no commissions or hidden fees.

Education

In the XM Learning Center, account holders can benefit from weekly webinars in 13 different languages including Arabic, Bengali, Indonesian, Polish and others given by 18 expert instructors whose pictures are presented on the site.

The list of video tutorials seems endless and cover topics as basic as how to open a Forex account to how to use a MT4 Droid pad on the Mobile Trader app.

Upcoming XM workshops and seminars are listed as are ones that have already taken place. At the time of this XM review, the schedule had already ended and no new events had been posted, the last one having taken place in Kuala Lumpur, Malaysia on March 28th 2015.

In addition, their economic calendar posts any upcoming events taking place in markets throughout the world.

There are market reviews, a Forex news report and technical analysis that appear on a daily basis.

XM Market Reviews

The FAQ section covers all types of questions and the answers are very informative and beneficial.

Bonuses/Promotions

XM has some super bonuses. When this review was being written, a bonus of 100% up to $5000 was being awarded on all new deposits. This was a limited offer and it came with an entry to the XM Loyalty Program where traders can earn infinite cash rewards and credit bonuses. It also included free VPS services such as the use of EA’s, greater trade execution time, access from any location 24/7 and optic fiber connectivity.

Several times a year, XM will offer special seasonal bonuses as well as highly exclusive bonuses made available on an invitation only basis.

Deposits/Withdrawals

At XM there is no minimum deposit required. However, system restrictions limit the minimum deposit amount to $5 for electronic funding such as Moneybookers, Skrill and Neteller as well as credit cards and bank wire transfers. Moneygrams and Western Union payments are also accepted.

Withdrawals can be made using the same methods. In fact the deposit and withdrawal options are listed side by side on the website and a trader needs only click on “make a deposit” or “request a withdrawal” in order to effect a transaction.

Customer Support

The XM customer support desk is available 24 hours a day, from Monday to Friday. Representatives speak English, Greek, Japanese, Chinese, Bahasa Malay, Bahasa Indonesia, Hungarian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Korean, Portuguese, Czech, Slovakian, Bulgarian, Romanian and Dutch.

Traders can contact a rep at different departments in several international locations via email of telephone. Live chat is also available.

Conclusion

XM is a leading force in the online trading sector and is committed to the people it serves. The UK based organization, Investors in People, has recognized XM for its efforts in helping their clients to realize their full potential and achieve their goals.

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Features

XM has some unique features which set it apart from many other Forex brokers. Their website is clear and easy to navigate and there are over 100 investment instruments to trade with very low spreads and no commissions. But it is in the area of education and community involvement that XM really stands out, hosting seminars and visiting more than 120 different locations across the globe to connect with their clients and interact with them in person.

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Platforms

XM offers a range of MT4 platforms for both Windows and Mac Operating Systems which gives traders unrestricted access to all platforms.

In addition, a range of MT4 Mobile applications for both Apple and Android Operating Systems seamlessly allow access to an account with full account functionality from a smartphone or tablet.

XM MT4 Android Platform

XM MetaTrader 4 (MT4)

XM pioneered the offering of an MT4 platform with trading execution quality in mind. It offers the following benefits: Over 100 Instruments including Forex, CFDs and Futures, 1 login access to 8 platforms, spreads as low as 1 pip, full EA (Expert Advisor) functionality, 1 click trading, technical analysis tools with 50 indicators and charting tools and 3 different chart types.

Trades can trade with the MT4 platform on their Mac as well as on mobile devices such as Androids and iPhones, iPads and tablets.

XM MT4 Platform

XM WebTrader 4

XM WebTrader 4 is accessible for PC’s and Mac’s without downloading. Traders can choose from over 100 Instruments Including Forex, CFD’s and Futures, 1 single login access to 8 Platforms, spreads as low as 1 pip, 1 click trading and built in news functionality.

XM WebTrader Platform

XM MT4 Multiterminal

The XM MT4 Multiterminal platform is the ideal tool for traders wanting to handle multiple MT4 account from 1 single terminal with ease with 1 Master Login and Password.

It supports up to 128 trading accounts, has multiple order types, three allocation methods and provides management and execution in real time.

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User Reviews

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