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 (No. 120/10), ASIC (No. 443670), and FCA (No. 705428)
◘ XM Foundation: XM was founded in 2009
◘ 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: DD (no Re-Quotes)
XM Trading Info
◘ XM Trading Zone: GMT+2
◘ XM Typical Spread: 1.6 pip (EUR/USD)
◘ XM Leverage: XM max leverage is 30:1
◘ 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: The minimum account at XM is $5
◘ XM Account Currencies: XM provide accounts in EUR, JPY, USD, GBP, CHF
◘ XM Deposit Methods:
- Bank transfer (two to five business days)
- Credit/Debit cards (immediately to a few hours)
- Electronic wallets (two to five business days)
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, MetaTrader5, XM Web Trader
◘ Signals: XM supports automated trading signals (YES)
◘ XM Languages: English, French, Russian, Spanish, Arabic, Chinese, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Turkish
XM Accounts
| XM ACCOUNTS | MICRO | STANDARD | EXECUTIVE | |||||
| Trading Contract size (lot) | 1,000 | 100,000 | 100,000 | |||||
| Minimum Initial deposit |
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| Maximum Leverage |
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| 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
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XM PROS |
XM CONS |
| √ Regulated Forex Broker ( CySEC, MiFID) | X Dealing Desk |
| √ Many Trading Platforms including Automated Trading | x High Spreads & Swaps |
| √ No Execution Delays, no Re-Quotes, and High Leverage | x Not good for automated trading |
| √ Wide variety of trading assets (53 Forex pairs, CFDs, Commodities, etc) | |
| √ No Withdrawal or other Fees |
XM Final Conclusion
XM offers a good and competitive environment to trade Forex, especially as concerns Advanced Forex Traders. XM is one of the most regulated Forex brokers, regulated by CySEC, ASIC, and FCA. XM charges normal spreads without any commissions. They offer high leverage up to 30:1 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. XM is an average choice for all types of traders.
◙ Forex Broker Review: XM
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