- Minimum Deposit: Starts from $5
- Trust Score: 90
- Tradeable Symbols (Total) : 1372
OVERVIEW OF XM
XM forex broker was founded in the year 2009 and there are many xm broker review blogs on internet. It is headquartered in the Republic of Cyprus and offers a wide array of products that include forex, Stock CFDs, Commodities, Equity Indices, Precious metals, Energies, Shares, et al. Unlike many other Forex brokers that operate in the shadows, XM Forex broker is a well regulated entity. Some of the biggest names of the regulatory world, such as CySEC, ASIC, IFSC, et al. vouches for authenticity of XM brokers.
There are different types of accounts that you can open with XM brokers, but on most of the accounts an initial minimum fees of $5 has to be payed. What makes XM broker a trader oriented service provider is its usage of both MT4 as well as MT5 trading platform. Another strength of XM broker is its client centric approach to trade. Irrespective of your account type, trading fees with this broker is minimum, while an inactivity fee – a time period when the trader is not actively participating in trade – too is negligible.
The cost-effective business model of XM creates a win-win situation for all the parties involved in the trading. Traders are supposed to pay nominal fees to exit their accounts and the entire process of closing an existing account is efficient and hassle-free. XM brokers enables you to trade in multiple currencies, the most prominent among them being USD, EUR,GBP,JPY,CHF,AUD, et al. The engagement between traders and XM broker is transparent and there is a dedicated team to handle queries from traders at any time five days a week.
XM REVIEW
XM has secured for itself a top place among forex service providers. An excellent customer care service that is responsive to queries and issues, low-entry bar, hassle-free exit, and cost-effective account maintenance make XM a very attractive destination for new as well as experienced forex traders. XM also has an excellent web and mobile trading platform that further enriches users’ experience. Technology has been leveraged till its hilt to give traders a unique experience. XM also provides apt and up-to-date educational tools to give traders a 360 degree view of the market as it unfolds.
When we compare the entire process of trading on XM with other brokers, one thing that makes XM stand out from the rest is its efficient account management and freedom given to traders to enter and exit without any inconvenience. Taking all the factors mentioned above, we strongly recommend this broker to new and experienced traders alike.
When it comes to safety, XM is one of the best brokers. Traders lose their money at a very high rate in the forex market. He reasons for losing money while trading with a broker could be multiple: lack of proper guidance, bad quality signals, or downright forgery. XM online broker has top-notch regulators and all trading through this broker is transparent. This makes it a very safe online broker. When it comes to guidance, its top-class educational content keeps its traders abreast of market news and helps them in understanding the technicality of market trade.
OUR ASSESMENT ON XM
XM online broker scores very high on practically all the parameters.
Its trust score stands at 90 and its score on Offering on Investment are at a very high level. Its mobile trading apps and website interface make the experience of trading with this broker wholesome.
XM’s trading platforms are highly efficient as they eliminate the uncertainty behind order execution. This broker also provides a fairly high degree of compatibility with MetaTrader 4 and 5. But investors who are interested in trading cryptocurrencies or ETF will be disappointed to learn that XM doesn’t satisfy their needs and demands. If you are into ETF or cryptocurrency trading, XM is not for you. There is a huge number of assets available on XM except cryptocurrency and the ETF.
XM gives its traders a lot of importance and it could be seen in their customer engagement programme. Traders, irrespective of their experience, can brush-up or learn afresh trading skills using the site’s inclusive educational content designed following the right pedagogy. Even though customer care service is available for only 5 days a week, it is more than enough. XM customer care team is fast and replies to traders’ queries promptly. Lastly, it is accuracy and cost effectiveness of XM services that make the company hog all the limelight in the crowded world of online brokers.
Table of Contents
XM REVIEW
Summary
XM online broker scores very high on practically all the parameters. Its trust score stands at 90 and its score on Offering on Investment are at a very high level. Its mobile trading apps and website interface make the experience of trading with this broker wholesome. XM’s trading platforms are highly efficient as they eliminate the uncertainty behind order execution. This broker also provides a fairly high degree of compatibility with MetaTrader 4 and 5. But investors who are interested in trading cryptocurrencies or ETF will be disappointed to learn that XM doesn’t satisfy their needs and demands. If you are into ETF or cryptocurrency trading, XM is not for you. There is a huge number of assets available on XM except cryptocurrency and the ETF.
Pros
- XM online broker offers 1,230 Contract for Differences including 57 forex pairs. The huge number of choices offered by XM lets trader choose what suits them and their budget the best. Offering trade in 57 forex pairs makes XM one of the very few online brokers offering such diversity in trading options. Another big strength of XM is its in-house research offering. Research is one of the main pillars for forex trading. Access to quality research on market dynamic is not always possible. But XM employs professional researchers who provide to XM’s trader relevant research in real time. Autochartist and trading central compliment XM’s in-house research offerings including daily videos, podcast, and up-to-date articles with proper citation and references.
- Another benefit of associating one with XM is that it makes available for its traders an ecelectic selection of educational webinars, articles, and Tradepedia courses. XM’s emphasis on research has yielded great result for it and its traders. Accuracy of their signal is 90 percent. This strike rate in Forex market is considerd to be excellent.
Cons
- Standard account spreads are expensive compared to other online brokers. Even industry leaders consider standard account spreads of XM to be quite expensive.
- Another drawback of XM is its reluctance to publish average spreads for the commission-based XM zero accounts.
