XM Review

XM.com provides the entire suite of MetaTrader platforms and competitive pricing for forex and over 350 CFD instruments, including on cryptocurrencies, through its regulated entities in the EU and Australia. Founded in 2009, XM.com provides traders with the full MetaTrader platform suite by MetaQuotes Software Corporation. XM.com has evolved into an online multi-asset broker offering over 400 instruments, including 57 currency pairs and 356 CFDs. Five CFDs on cryptocurrencies are also offered covering Bitcoin, Dash, Ethereum, Litecoin and Ripple.

XM is the next-generation broker for online forex and commodity trading, offering a wide array of progressive features for trading Forex, Stocks CFDs, Commodities CFDs, Equity indices CFDs, Precious metals CFDs, Energies CFDs and Cryptocurrencies CFDs. What makes XM outstanding is that there are no re-quotes or rejections of trading orders, no hidden fees or commissions, and 99.35% of orders get executed in less than 1 second.

Trust Score

Trading with a forex broker traders can trust is crucial to success. Unfortunately, forex fraud and scams are common in the industry.

Here at ForexBrokers.com, we maintain the largest independent regulatory database available on the web. Using 28 different variables, we have created a proprietary 1-100 score (the higher the better) of overall trustworthiness, which we call the Trust Score. Here is our trust summary of XM.

 XM
Trust Score71
Year Founded2009
Publicly-Traded Company (Listed)No
Regulated in Major HubYes
Regulated in Emerging HubYes
Authorised in the European UnionYes
CFTC Registered (USA)No
FCA Regulated (UK)Yes
IIROC Authorised (Canada)No
FINMA Authorised (Switzerland)No
ASIC Authorised (Australia)Yes
SFC Authorised (Hong Kong)No
MAS Authorised (Singapore)No
FSA Authorised (Japan)No
FMA Authorised (New Zealand)No
CySEC Authorised (Cyprus)

Features

XM is the next-generation broker for online forex and commodity trading, offering a wide array of progressive features for trading Forex, Stocks CFDs, Commodities CFDs, Equity indices CFDs, Precious metals CFDs, Energies CFDs and Cryptocurrencies CFDs. What makes XM outstanding is that there are no re-quotes or rejections of trading orders, no hidden fees or commissions, and 99.35% of orders get executed in less than 1 second.

XM Group offers 1:30 leverage in the industry. Over 60 currency pairs and over 100 financial instruments can be traded both online and by phone on 8 advanced trading platforms. Besides, there are no upper limits to deposits.

Beginner and seasoned traders can equally benefit from superior services and from exactly the same trading conditions, whether they open a real or a demo account. Registration is currently available in 17 languages, and trading can be started with a min. deposit of USD5 on multiple forex accounts, or on non-expiring demo accounts funded with USD100,000 virtual currency. Clients can benefit from tight spreads as low as 0 pip on the major currency pairs.

Clients can choose from three forex account types with custom-tailored conditions and base currency options for USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZAR: MICRO account (1 micro lot = 1,000 units of the base currency), STANDARD account (1 standard lot is 100,000 units of the base currency), and XM ZERO account (1 standard lot is 100,000 unites of the base currency).

With generally tight spreads on over 60 currency pairs and spread as low as 1 for Micro and Standard account types and spread as low as 0 for XM Zero account type, XM also provides fractional pip pricing so that clients can trade with tighter spreads and benefit from the most accurate quoting possible.

Commissions & Fees

The commissions and fees at XM depend on the type of account. There are three to choose from, including the commission-free Micro and Standard accounts, and the commission-based XM Zero Account.

For example, in the XM Zero account, average spreads on the EUR/USD were listed as 0.1 pips (not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.

Even after including the USD $5 per side commission ($10 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 1.1 pips (0.1 spread + 1.0 RT commission), making the XM Zero account the firm’s most competitively priced offering.

It is worth noting that XM acts as the sole dealer (principal) in all trades it executes and offers no re-quoting across all its account types in terms of the execution method as a market-maker/dealer. This allows it to offer lower spreads during certain market conditions. Accordingly, both account options are useful, depending on clients’ needs.

XM Platform

Both demo and real account XM clients can trade on as many as 8 trading platforms that support market, limit, stop and trailing orders, and directly accessible from 1 account.  This speeds up trading operations and gives traders great flexibility to trade from anywhere and at anytime with ease. At XM the multi-award winning platform Metatrader 4 works with an unlimited number of demo and real accounts, and Expert Advisors (EAs) are also supported.

The available trading software is as follows: MT4 Terminal;MT5; MT4 for Mac; Web Trader; iPhone Trader; iPad Trader; Droid Trader; Mobile Trader. XM Group has multiple account holders with an unlimited use of charts and EAs.

 XM
Average Spread EUR/USD – Standard1.60
All-in Cost EUR/USD – Active1.10
Active Trader or Premium/VIPNo

Deposits and Withdrawals

Negative balance protection, the no re-requotes and no hidden fees or commissions policy, together with the strict and real-time market execution policy rank XM among the most sought-after forex brokers.

Account funding is 100% automatic and processed 24/7, while same day withdrawals are guaranteed. Clients can choose from various modern payment options, with a wide geographical coverage: credit cards (VISA, VISA Electron, MasterCard, Switch, Solo) bank wire, Neteller, Moneybookers Skrill, etc. The recently introduced local bank transfer option enables investors to fund their accounts through their own local banks (in 58 countries worldwide) and in their local currencies.  There are no hidden fees or commissions for funds transfers, and all transfer fees are covered by XM.

Research

XM’s research offering consists mostly of content generated by an in-house team of analysts, including daily market recaps and technical and fundamental analysis articles and videos.

The firm also provides six calculators, ranging from its all-in-one calculator to its pip value calculator, which can be useful when traders are planning or researching trading ideas. There is also an economic calendar powered by Investing.com.

In terms of manual trading signals, XM offers its trading signals hub to live account holders where users can access signals across ten instruments generated twice daily.

Meanwhile, trading signals that can be automated are currently limited to the Signals Market available within the MetaTrader platform, after XM discontinued its prior social copy-trading offering of Tradency’s MirrorTrader platform, and ZuluTrade.

In terms of manual trading signals, XM offers its trading signals hub to live account holders where users can access signals across ten instruments generated twice daily.

Beginners’ and Customer Support

Multilingual Personal Account Managers are at both demo and real account clients’ disposal via live chat, by telephone or email in over 14 languages, assisting them with professional support 24 hours on 5 business days.

Rich forex educational material is at clients’ disposal, with free weekly interactive webinars, as well as with free, uniquely developed MT4, MT5 video tutorials. The multilingual economic calendar, along with forex news and market analysis provided by XM financial experts help clients follow market changes and adapt their trading decisions accordingly

Conclusion

The staff at XM (TradingPoint) is committed to satisfying your every need with integrity, transparency, and the determination to serve you well.  The firm has quickly passed through its early development stage, as evidenced by the preponderance of favorable reviews, falling into the “7 out of 10” region of the scale, from satisfied customers on Internet review sites.  The benefits of choosing this broker are clearly stated on the Home page of their website:

  • Licensed in the EU
  • Tight Spreads from 0 Pip
  • Flexible Leverage up to 1:30
  • Commission given only for XM Zero account types
  • $30 non-deposit Bonus up to $5,000(t&c apply)
  • 24 Hour Support
  • No Re-quotes
  • Fast and Easy Withdrawals
  • Personal Account Managers
  • Phone Trading

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2 Responses

  1. Ahmad Faizal says:

    bagus ni ada bonus $30

  1. December 13, 2018

    […] XM Review […]

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