XM Broker is an online Forex platform that enables traders to trade and make money with smartphones, laptops or desktops over the internet.
The platform was established in 2009 and since then it has acquired over 2,500,000 clients, who have executed more than 2,400,000,000 trades in 196 different countries.
In those 10 years of operation the XM Group has included into their platform over 57 currency items and 1000+ CFDs.
Five CFDs on cryptocurrencies are also offered in Bitcoin, Dash, Ethereum, Litecoin, and Ripple.
Xm also tries to keep with their client’s dynamic desires as they become extra demanding and experienced.
They do this by surveying business trends and technologies then developing creative services which resonate with clients at different levels. Perhaps this is the reason why they are currently the best broker in the world.
XM is Big on Customer Service
One of the most outstanding ideals of XM is that they tries hard to continue being human and to stay engaged with clients. Over time they have reached out to about 120 countries to meet with partners and clients.
XM understands that perfect communication with a people is of high value and they try to maintain perfect communication all the time.
Being part of this Family already, I wouldn’t tell you when last I did not receive a call from my XM manager on a trading day. They are that good.
Trade Forex with XM. Trade with a Big, Fair and Human Broker.
XM Forex Broker Review – Seminars
Occasionally, XM will organize seminars around the world to teach clients and partners about their diverse and interesting products.
This year they’ve had seminars in Kenya, Tanzania, Nigeria, Greece, Argentina, Thailand, Mexico, Thailand, Ecuador, Costa Rica, Ivory Coast, Ghana, Tunisia, Malaysia, Philippines, Uganda, Chile, Morocco, Egypt, Jordan… Did I miss your country? There’s a seminar coming near your in 2020. Confirm in this section of XM Forex Seminars.
XM Forex Broker Review – The XM Foundation
XM also operates a foundation. The XM Foundation. This institute concentrates on building equal chances through humanitarian activity.
The purpose of the XM Foundation is giving rise to a favorable difference to people and encouraging them to fulfill their potential.
This objective applies regardless of belief, ethnic background, religion, and culture.
Besides improving education through vocational training projects; the XM foundation also gives international assistance to other functional institutions operating as human aid foundations.
Their latest CSR project saw them acknowledged with the prestigious Cyprus Bronze Award for Best CSR Initiative with Employee Involvement for its large-scale corporate social responsibility initiative Mission Uganda
What Types of Accounts Are Available in XM Offer?
XM provides four main accounts for traders to choose:
All account types have unique trading conditions and an unlimited number of access to MT4/MT4 with EA trading.
XM Forex Micro Account Features
These are the base currencies in an XM Forex micro account: – USD, PLN, GBP, CHF, JPY, AUD, HUF, EUR, RUB, SGD, ZAR.
Contract Size – 1 Lot = 1,000; Leverage – 1:888; spreads as s Low as 1 Pip and minimum trade volume – 0.01 Lots,
Make a minimum deposit of $5 to activate this account type.
XM Forex Standard Account Features
These are the base currencies available in a XM Forex standard account: – USD, EUR, GBP, JPY, CHF,
AUD, HUF, PLN, RUB, SGD and ZAR.
Contract Size – 1 Lot = 100,000; Leverage – 1:888; spreads as s Low as 1 Pip and minimum trade volume – 0.01 Lots.
Lot restriction per ticket – 50 Lots
Make a minimum deposit of $5 to activate this account type.
XM Forex Ultra-low Account Features
These are the base currencies available in a XM Forex standard account: – EUR, USD, GBP, AUD, ZAR, SGD
Contract Size – Standard Ultra: 1 Lot = 100,000; Leverage – 1:200; spreads as s Low as 0.6 Pip and minimum trade volume – 0.01 Lots.
Lot restriction per ticket – Standard Ultra: 50 Lots
Make a minimum deposit of $50 to activate this account type.
XM Forex Shares Account Features
These are the base currencies available in a XM Forex standard account: – USD
Contract Size – Standard Ultra: 1 share; Leverage – no leverage; spreads as per the underlying exchange and minimum trade volume – 1 Lot.
Lot restriction per ticket – Depending on each share
Make a minimum deposit of $10,000 to activate this account type.
Note: – All these account types have Islamic account options which you can activate for free
XM Forex Broker Review – The XM Islamic Account
As mentioned earlier, all accounts accounts in XM have the option for an Islamic account activation. And Islamic accounts do not have any rollover or swap income for overnight positions.
If you want to activate this option, just open a normal account, verify in the Member’s Area by sending photos of front and back side of your ID to firstname.lastname@example.org.
Afterwards, reach out to XM to transform it into an Islamic Account.
Keep in mind that XM has the capacity to cancel the swap-free status in case of misuse.
XM’s Islamic Accounts stands out because unlike other brokers, it is transparent with no commissions.
The Assets You Can Trade With XM
XM provides clients the capacity to trade above 1,000 instruments in all seven classes of assets.
These comprise Forex, Individual stocks, Commodities, Precious metals, Equity indices, Energies, and Cryptocurrencies.
XM Forex Broker Review – XM Spreads
Note that XM operates variable spreads, and performs under the inter-bank Forex market.
By having spreads that vary, they are able to eliminates insurance premiums which will otherwise be required for spreads that are fixed.
XM is able to offer the best prices from their liquidity providers by giving clients access to fractional pricing of pip. Practically, this allow clients to make use of small price movements, the 5th digit is added with the normal 4-digit cost quotes resulting in very tight spreads and accurate quoting.
XM Margins and Leverage
Clients using XM are able to choose between 1:1 and 888:1 leverage. This is determined by the account trade size, asset, and type. The requirements for margin are always the same all day.
The selected leverage can be changed to either decrease or increase.
XM Margin Call Policy
XM also provides a margin call policy to make sure that the highest possible risk of account equity is not exceeded.
A margin call will be sent out if the equity falls below 50 percent of the normal open positions margin. This is an announcement to either close options or deposit funds.
For more fund protection, your open positions can automatically close at the stop-out equity level. 20 percent is the stop out level for retail clients that have Micro, Ultra-Low, or Standard Accounts.
What You Should Know About XM Overnight Positions
XM is proud for providing transparent and competitive exchange rates.
The policy for rollover means XM will debit or credit your account and deal with rollover interest. This is applicable to positions held open after 22:00 GMT.
Note that rollovers don’t take place on weekends, but banks add up interests that occurred during the weekend.
Xm Forex Broker Review – How to Start Trading in XM
You can place a number of orders. Which include stops, trailing stops, market orders, and limits. Place trades only within the trading hours.
- Open an account
- Submit front and back photos of ID for verification (send to email@example.com)
- When you’re approved, make a deposit
- Install MT4, MT5 or Android MT4 to start trading.
XM has three Education Rooms. Each is customized with interactive training sessions on weekdays. They cover all topics with up-to-date information and real-time recommendations and guidance.
The education rooms’ syllabus is designed systematically to aid traders in building their skills.
Clients with Validated XM account can access Intermediate Education Room, which helps by developing techniques required for own strategic thinking.
Lastly, all traders who have deposited up to $500 US Dollar in the last three months can access the Advanced Education Room to learn more advanced stuff.
XM Customer Support
XM gives support through phone as well as live chat. You can reach the company through their email address or registered address. Use phone support and/or live chat 24/5 for ease. Support’s available in 30 different languages.
No.5 Cork Street, Belize City, Belize, C.A.
Working hours: 24/5 GMT
To date, XM Forex has been acknowledged and rewarded with over 35 global awards for exceptional performance in various categories.
It’s latest recognition has been by Wealth Management Awards 2019. and the Shares Magazine which named it the Best Forex Customer Service in UK in 2018.