Besides keeping clients’ funds in segregated bank accounts, XM hosts advanced security protocols, including SSL encryption and two-step authentication preventing unauthorised access. In addition to negative balance protection, funds compensation service is available to claim your losses in case the company faces liquidation. Trading accounts are available in an impressive 11 different currencies and may be funded in a variety of ways. XM accepts deposits from the most popular credit/debit cards, bank wire transfers, and some e-wallets. XM does not charge any deposit fees, and the funds are available nearly immediately once they are deposited. For the Micro, Standard, Ultra Low, and Zero accounts, the minimum deposit is a mere $5 or the equivalent in another currency.
There is also a more advanced section with more complex and technical analysis, trading strategies, tools and signals. Plus, there are a further 43 video tutorials on all aspects of using the MT4 platform. In addition, swap-free Islamic Accounts are available which feature no rollover interest or overnight positions in accordance with the Islamic faith.
In addition to providing excellent support, I am impressed with the trading conditions you can get access to for a small deposit of just $5. XM Group offers a no re-quote and no rejections policy with 99.35% of trades being executed within 1 second. Their business model is built around the belief that execution is everything when trading. From my experience, execution can play a big part in your trading results, especially if using a scalping strategy.
XM caters for all of the trading techniques that you may choose to employ. This includes both scalping, and hedging as well as algorithmic trading that is made possible through the use of EAs on the Metatrader trading platform. On the point of leverage, this too will vary depending on your XM account type, on the financial instrument traded, and which regulatory body you fall under. You will find more details on the exact fee here through your trading platform, though since XM is a CFDs trading broker, the fee is almost unavoidable. XM facilitates multiple withdrawal methods which match the deposits methods available and with the same timeframes for processing.
- For the forex market, one market will close when another opens thanks to markets in New York, Sydney, Tokyo, and London.
- The instructional videos, which number close to fifty, cover material spread throughout seven distinct courses.
- As is the case with XM deposits, withdrawals are typically free of any fees.
- Clients of XM have access to either MT4 or MT5, both of which are popular MetaTrader platforms.
- These are that the bonus is only available to new clients and that only the profits, not the original bonus, can be withdrawn.
Even if you only trade forex now, think about how easier it would be if you want to diversify in the future. If you want something more advanced, cTrader is another platform to consider but is not offered by as many brokers. FxPro also have the cTrader platform if you want to check them out. They offer an impressive 25+ secure payment methods, 16 trading platforms and 24/5 customer service.
While the MT4 platform is a bit dated, we found the MT5 platform to be more than adequate for traders who prefer a modern platform. We did not encounter any problems during the withdrawal process, which was smooth once we abandoned our plans to withdraw funds back to our credit card. Please note that the xm group review first deposit has to be made via credit card. Traders can use their preferred deposit method, starting from the second deposit. The registration process took exactly 14 minutes, and our account was approved two days later. We reviewed the entire process when opening our account, and it was fully digital.
CFDs
One strong plus is that XM extends negative balance protection to all its clients, not just the EU clients that it is required to by law. This means that traders cannot lose more money than they put into their account and is excellent for beginners especially. In line with anti-money laundering regulations, the withdrawal method has to be the same as the deposit method in which the account was funded.
Like most brokers, XM offers a range of seminars and other educational tools to help traders enhance their skills. This includes hundreds of seminars that have already been hosted around the world, with more to come. By offering variable spreads, XM is able to avoid these issues for traders.
US traders welcome at these brokers:
XM have problem withdrawal via online bank transfer is under maintenance over one months, support not responsible, be carful everyone. In terms of research tools and Market materials, it is in good order at XM too. Along with News Feed, Technical Summaries and Technical Analysis, XM provides Fundamental Analysis and Trade Ideas suitable for beginning or advanced traders.
Before you can trade with XM for the first time, you must provide identity and residential address verification. Access to shares CFDs depends on the client’s country of residence. Since its founding in 2009, the broker has picked up over 30+ industry awards. This review gives readers in an in-depth overview of XM and discusses the broker’s advantages and disadvantages. They are divided by the same Primary, Intermediate, and Advanced distinctions.
What Instruments Do Accounts Have Access To?
Those who want more will appreciate the superior MQL5 development environment built-in. There is also a multi-currency tester, alerts, and an internal mailing system. You still get the same flexible leverage and no requotes or rejections. Additionally, there are built-in help guides for MT4 as well as Metaquotes Language 4. It also allows for the creation of custom indicators as well as time periods.
Brokers By Licenses
I like how they have a best execution policy to provide the most favourable trading conditions to traders. Collaboration with a range of liquidity providers mean that they can offer some of the lowest spreads with plenty of liquidity at all times. While many brokers start charging clients account inactivity fees after 6-12 months, XM traders who have not traded for 90 days will be charged a monthly inactivity fee of $5.
Account Opening
Our management has visited over 120 cities globally to understand clients’ and partners’ needs. There is a reason why over 10 million clients choose XM for Forex Trading, Cryptocurrencies Trading, Commodity Trading, and Stocks, Metals, and Energies Trading. Now available – For clients with an equity of less than $40k – T&Cs apply – Read more.
Stock trading involves buying and selling shares in companies in an effort to make money on daily changes in price. A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks, which represent ownership claims on businesses. Trading stock CFDs allows customers to gain exposure to the price movement of different stocks without the ownership of the underlying asset. For instance, if you believe the price may increase in value, you may look to buy a CFD instrument. If on the contrary, you thought that the price may decline in value, you might consider selling a CFD instrument. The difference in price between when you open and close the CFD position, is the profit or loss minus any brokerage fees such as spreads, commissions and swaps for holding positions overnight.
