Forex Broker Review: XM
XM REVIEW
XM Company Info
◘ Company Name: XM is the Trading Name of Trading Point Financial Instruments Ltd
◘ XM Regulation: XM is regulated by CySEC, MiFID
◘ XM Foundation: XM was found in 2008
◘ Online since: XM went online in 2009
◘ US Clients: XM doesn't accept US Clients (NO)
◘ Islamic Accounts: XM supports Islamic Accounts (YES)
◘ XM Execution: STP (No Execution Delays and no Re-Quotes)
◘ XM Customer Support:
XM Trading Info
◘ XM Trading Zone: GMT+2
◘ XM Typical Spread: 1.7 pip (EUR/USD)
◘ XM Leverage: XM max leverage is 500:1
◘ XM Min Position (lot): Mini Account (0.0001 lot) - Executive Accounts (0.1)
◘ XM Scalping: (YES)
◘ XM Hedging: (YES)
◘ Automated Trading: It is available using XM Mirror Trader (YES)
◘ XM Min. Account: Minimum account at XM is $5
◘ XM Account Currencies: XM provide accounts in EUR, JPY, USD, GBP, CHF
◘ XM Deposit Methods:
◘ XM Withdrawal Methods:
XM Forex Pairs
53 Forex pairs in total, here are the most popular pairs at XM: EUR/USD, GBP/USD, NZD/USD, USD/CAD, USD/JPY, USD/CHF, AUD/USD, EUR/GBP, EUR/CHF, EUR/JPY, GBP/JPY, EUR/AUD, EUR/CAD, AUD/JPY, CAD/JPY,
CHF/JPY
XM Platforms
◘ XM Platforms: XM offers MeaTrader4, XM Web Trader, XM Mirror Trader
◘ Signals: XM supports automated trading signals (YES)
◘ XM Mobile Trading: XM offers app for iPhone, Android, iPad
◘ XM Languages:
English, French, Russian, Spanish, Arabic, Chinese, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Turkish
XM Video Presentation:
XM Accounts
XM ACCOUNTS
MICRO
STANDARD
EXECUTIVE
Trading Contract size (lot)
1,000
100,000
100,000
Minimum Initial deposit
$5 – $20000
$20001 – $100000
$5 – $20000
$20001 – $100000
$100000 +
Maximum Leverage
1:500
1:1 to 1:200
1:500
1:200
1:100
Minimum Spread (EUR/USD)
1 pip
1 pip
1 pip
TRading Commission
No
No
No
Lot restriction per ticket
100 lots
50 lots
50 lots
Hedging / Scalping allowed
Yes
Yes
Yes
Islamic Account
Yes
Yes
Yes
XM PROS & CONS
|
XM PROS |
XM CONS |
| √ Regulated Forex Broker ( CySEC, MiFID) | X US clients are not accepted at XM |
| √ Competitive spreads and no Trading Commissions | |
| √ No Execution Delays, no Re-Quotes, and High Leverage | |
| √ Many Trading Platforms including Automated Trading | |
| √ Wide variety of trading assets (53 Forex pairs, CFDs, Commodities, etc) | |
| √ No Withdrawal or other Fees | |
| √ High Promotions (Bonus and Rebates) |
XM Final Conclusion
XM offers a good and competitive environment to trade Forex, and especially as concerns Advanced Forex Traders. XM is one of the most regulated Forex broker, regulated by CySEC and MiFID. XM charges normal spreads without any commissions. They offer high leverage up to 888:1 while they charge no re-quotes. XM offers a good variety of trading platforms including automated trading. Furthermore, XM offers a very wide asset index including 53 Forex Pairs, CFD Trading, Metals, Energy and some more Commodities. Orders are executed with no delays while the overall technological background of XM may be considered far above the industry competition average. As concerns the available account types, XM offers a mini account with a minimum deposit of $5, plus a standard account and an executive account. There are many deposit and withdrawal methods available while no withdrawal or maintenance commissions are charged. Finally, as concerns Forex promotions, they offer a standard bonus policy of 30% for new traders but from time to time they offer new deposit bonuses up to 100%. In overall, XM is a very good brokerage choice for all types of traders seeking professional trading conditions and high regulation.
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◙ Forex Broker Review: XM
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