There is also a mobile application available for the trading platforms offered by the broker. This makes it very user-friendly and ensures that no matter where you go, you will always be able to keep in touch with the Forex trading market. XM provides both web-based and downloadable trading platforms to their clients.
- XM Minimum Deposit amount is 5$ only for Micro Account or a Standard Account, in case you wish to trade with Zero account minimum deposit is competitive also, demanding 100$ as a start.
- For stock investors, XM has created a special account type called a Shares account.
- We use dedicated people and clever technology to safeguard our platform.
- In short, the broker seems to be fully committed to providing clients with the next level of educational services by continuously adding more features and content.
My conclusion regarding XM’s offering of tradable assets is favorable, with a wide range of asset classes that should satisfy most traders. The offering is especially impressive concerning global equities, with a large amount (over 1,300) on the menu. Stocks – An extremely wide selection of individual stocks is available for trading, with more than 1,300 equities currently listed by XM. It is an impressive, wide range of choice offered across global equities. XM offers stocks from seventeen national equity markets, including the major markets such as the U.S.A., the U.K., Germany, Switzerland, and Australia. Traders interested in trading individual major market stocks should give XM serious consideration as a broker of choice.
A Comprehensive Review of XM
Here, you can find the most popular trading platforms such as MetaTrader 4 and MetaTrader 5, or go with the custom-made trading platform of XM. It is a very common xm group practice for Forex brokers to charge an inactivity fee. This type of fee on XM is charged when your account remains inactive for a certain amount of time.
The MT4/MT5 WebTrader suits manual traders who seek a lightweight trading platform and traders who frequently trade from different locations and devices. For the best trading experience, there is no substitute for the MT4/MT5 desktop trading platforms. XM are open and transparent about their overnight financing rates, which is a good sign.
Mobile Experience
This way, clients do not have to wait to get answers to important questions. There is access to 18 cash indices CFDs and 12 futures indices CFDs. XM also lets clients trade two spot metals instruments, gold and silver. XM gives clients the ability to trade more than 1,000 instruments across seven asset classes.
Available Assets at XM
The first step that you will have to take is to sit back and think about which account you want to create. For this, you will first have to understand what your interests are in the Forex trading market and choose the account that fits these interests best. This account is a perfect fit for those who follow strict sharia law and they pay a fixed fee instead of swaps.
Choose a Big, Fair and Human Broker.
Too often in the retail Forex / CFD industry, account type classifications are made unnecessarily complex for marketing purposes. It is admirable that XM seem to have refrained from doing this and are instead looking simply to give their clients what they want and need. XM offers traders more than 1,000 competitively priced assets, excellent leverage, trading bonuses, plus a loyalty program and an upgraded MT4/MT5 trading platform. From here traders can manage their account, including depositing and withdrawing funds, claiming promotions, checking positions and leverage, and accessing the trading tools offered through XM. Finally, the Advanced Education Room is open to anyone with a funded XM Account. To access it, you must have deposited a minimum of $500 USD in the past three months.
Again a lightweight platform, MetaTrader on the web incorporates almost all of the same excellent features as present in the desktop counterpart. The added convenience here is that it can be run completely in browser with no download required. With executions at XM, the first important point to note of course is that they are a CFD market maker broker. The exception here is as an Islamic account holder, you will not get charged this fee at all, though you must qualify for this account that is available on request. In the majority of cases, XM deposit methods try to remain fee-free. There may also be other deposit methods available depending on your local area and this is something you can check through your account management and deposit area once you open your XM account.
Clients can have a maximum of 50 positions open and pending, and the lot restriction per ticket depends on the share. The main difference for Standard Accounts with XM is that 1 lot is 100,000. There is a restriction of 50 lots per ticket and the minimum trade volume is 0.01 lots.
Catering for traders worldwide
The Micro account can be especially useful for those who have just finished training with the demo account. While an XM demo account can be a great choice for traders to learn more about the market, it can’t be used to learn how to control your emotions when trading. By slowly transitioning to using real money, you will be able to learn more about how to control your emotions.
The broker allows you to trade 13+ indices, such as AUS200, EU50, US500, etc. Looking also at the number of base currencies available, there are 11 to choose from. It is always important for would-be traders that they understand the flip side of trading with a dealing desk broker. If you are a trader that comes under the XM Global entity (Belize regulation) you can have a Shares Account which means that you can trade the underlying company shares (ie. not just the CFDs).
Some brokers will charge for additional withdrawals in a month, regardless of the method. The fact that XM does not charge for withdrawals helps to keep costs down for the trader. There are 57 instruments to trade, which is a fairly decent selection.
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. The only exceptions to this are if you deposit a non-base currency you may incur a small conversion charge. Also you should double check that your bank does not charge any fees for a wire transfer. If the deposit is over $200 though, XM will also cover this fee for you.
A selection of trading tools are also offered, in addition to free forex signals and forex calculators. All too often, substandard brokers throw together a hastily assembled collection of low-quality educational material, simply for the sake of trying to put across a good appearance. Happily, in the case of XM, the educational and research offering is there because it is worthwhile.