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Only a limited number of brokerage companies are at the XM level. It is one of the most well reputable companies to trade with. It offers its clients a diverse list of instruments to trade with and a large number of instruments to trade with while keeping their fees and commissions low.
XM broker review tries to understand what XM does that makes it among the best and most reputable brokers in the world of CFDs and forex trading.
Regulations and Licenses
The growth of XM has not come without its disappointments and controversies. It is a brokerage company that is not allowed to operate in most companies, given that it is not a public traded company.
It is regulated by different tier 1 regulatory body, including the Australian Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA). It also has tier 2 and 3 regulatory bodies that it operates under.
This XM broker review reveals that XM broker is not a scam and is as legit as possible. With over 5 million clients, XM offers clients within the EU investor protection. They have negative balance protection for all their clients with live accounts, ensuring they do not lose more than they have.
They have compensation schemes that add to how they can be trusted with their client’s money and ensure customers’ funds are secured.
Like most of the high reputation brokers, XM offers their clients an easy process that allows them to register with them and get a life or a demo account.
They have multiple accounts, including the XM Zero, Standard, and Micro trading accounts. These accounts differ in their base currency options, the lot size, the size of open orders, and the trade volume, among other features.
The minimum deposit required to begin trading with XM is $5 on all accounts, which only makes this broker different from the rest. People dealing with XM live accounts can trade with 200 open positions.
Fees, Commission, and Spreads
XM charges an inactivity fee to all traders that spend more than 90 days without trading with them. The inactivity fee that is charged sits at $15, which they consider the maintenance fee.
They have no deposit or withdrawal fees. However, they do charge traders for withdrawal using banks.
They charge commissions on the volume of trades that a trader carries out. The commission is charged at a rate of $7 for 100,000 transactions that the trader engages in.
On the other hand, their spread can be rated very low. It offers both fixed and variable spreads that are charged through pip pricing. Their spreads are charged at a rate of 0.001 or even less in forex instruments, but they can also go as high as 9 when it comes to other CFDs.
XM offers a limited number of trading platforms, which you wouldn’t expect from a broker with over 5 million clients. Traders are open to choosing from MT4 and MT5 trading platforms. They are offered in web trader, phone, and PC versions.
On the other hand, the broker prides themselves on having many trading opportunities open to clients that sign with them. They have over 55 forex trading instruments, major CFDs and indices, commodities, stocks, metals, and energies that they offer to their clients.
They have over a thousand instruments that traders can take advantage of.
Other than the thousand-plus instruments that people can trade with at XM, they offer their clients account managers.
Also, they have a policy that ensures no differentiation in how the people are treated in their company. This means that everyone is exposed to the same quality of service regardless of how big your account is or how good of a trader you are, which is another plus.
They provide a free market analysis that helps their traders have a competitive advantage in the market. This is delivered with signals that the traders can take advantage of and live help anytime or night during market hours.
Summing it Up
To sum it up, yeah, there are a lot of things that make XM a reliable and renowned brokerage company. This XM broker review could not identify why some countries deny XM entry to their region.
But they have done much to make the user experience easy and rememberable. If you feel like what you need is such a broker, then you create an account today!
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