What is XM.com?
The XM.com broker started its activity in 2009 and so far operating clients from over than 196 countries with a support staff speaking in 30 languages. The main company branch located in Cyprus, however, their offices are truly covering global needs and serving in UK, Australia, Belize and Greece.
About 1.5 Million Traders and investors at FX.com choose from a wide range of XM value products, more than 55 currency pairs and over 700+ trading instruments with advanced technology solutions. The reason for such fast growth and trust to the broker is that XM aims to provide the best user experience in the industry to their clients.
indeed, XM achieved a great focus on the Client needs while offers very competitive conditions. At XM the account can be opened regardless net of capital with only 5$ or the trading experience, as XM supports with webinars and research materials.
Generally, all procedures from account opening, managing, depositing/ withdrawing, and trading is straightforward, simple and transparent. For these strives, XM received truly global recognition along with many reputable awards for industry achievements.
=> History of XM.com
XM.Com was founded in 2009 as Trading Points of Financial Instruments Ltd. and shortly thereafter launched its trading-point.com website. The company launched its XM Partners subsidiary in 2010. By 2011 the company introduced mobile trading, and in 2012 it acquired XEMarkets.com. XM.com expanded rapidly over the next six years and now services over a million customers in more than 190 countries.
Trading Points of Financial Instruments Ltd., the parent company of the XM.com and XM Partners subsidiaries, has its headquarters in Limassol, Cyprus. XM is a trading name of Trading Point Holdings Ltd, which wholly owns the following companies:
Trading Point of Financial Instruments UK Ltd (XM UK)
Trading Point of Financial Instruments Pty Ltd (XM Australia) XM Global Limited (XM Global)
Trading Point of Financial Instruments Ltd (XM Cyprus)
=> Accounts Types
There are 2 accounts to settle on from at XM. The small trading account is appropriate for beginners who want to come up with profits with a relatively low level of risk. More experienced and skilled traders with a a lot of in-depth information of the monetary markets would like the quality account.
The Micro account has a contract size of 1000 and leverage of 1:1 to 1:888 ($5 – $20,000) while the contract size for the Standard account is 100,000. The same leverage applies.
Both accounts have a minimum deposit requirement of $5, a spread of 1 pip on all major pairs, and a maximum open/pending order of 200 positions.
Clients who maintain a minimum amount of (Equity-Credit) USD 5,000 or equivalent in other currency are eligible to request a free VPS from the Members Area at any given time on condition that they trade a minimum of 5 round turn tons per month.
Free demo accounts can be opened using either of the two accounts and each trading account has access to the MetaTrader 4 trading platform. Traders can use demo accounts as long as they want but demo accounts that have been inactive for longer than 120 days from the last login will be closed. However, a new one can be opened at any time.
In addition, Forex Islamic accounts, also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, are offered to clients following the Muslim faith. Islamic accounts can be opened in either the Micro or Standard forms.
=> XM Trading Platform
XM offers 2 trading platforms which are accessible from both real and demo accounts. The multi-award winning MetaTrader 4 is predominantly a forex trading platform that supports stop, limit, market and trailing orders.
The MetaTrader 5 platform is a multi-asset trading platform which also offers access to stocks, stock indices and precious metals. Both platforms are available on Apple and Android devices, which makes for a smooth and easy-to-use mobile trading experience.
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=> Assets / Markets
The XM broker platforms support the trading of forex, stocks, commodities, equity indices, precious metals, energies and cryptocurrencies.
=> XM.com Leverage
Depending on the account type and the entity under which the XM follow different regulatory obligations, you can choose the leverage on a scale from 1:1 to 888:1. As of the recent updates on protective measures the European clients and brokers can use a maximum leverage level up to a maximum of 30:1, while still, the Australian regulation allows up to 300:1.
On one hand, by using leverage you can significantly increase your potential income, yet that rule works reversal as well. Therefore, choose your leverage smartly, as well as the entity under which you would like to trade. As associate instance, the XM international that operates through Central American nation license could supply a really high leverage level of 888:1.
=> Commissions & Fees
The commissions and fees at XM Group depend on the type of account. There are mainly three to choose from, including the commission-free Micro and Standard accounts, and the commission-based XM Zero Account. It’s worth noting that there is also a fourth account type, the XM Ultra Low account, but it is not available at all the entities of the Group.
For example, in the XM Zero account, average spreads on the EUR/USD were listed as 0.1 pips (not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.
Even after including the USD $3.5 per side commission ($7 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 0.8 pips (0.1 spread + 0.7 RT commission), making the XM Zero account the firm’s most competitively priced offering.
It is worth noting that XM Group acts as the sole dealer (principal) in all trades it executes, and offers no re-quoting across all its account types in terms of the execution method as a market-maker/dealer. This allows it to offer lower spreads during certain market conditions. Accordingly, both account options are useful, depending on clients’ needs.
=> XM Deposits and Withdrawals
The funds transaction at XM.com are managed in a customer-oriented way too, traders having a choice of various payment options including commonly used Credit cards, Bank wire and E-wallets (Neteller, Moneybookers Skrill, Western Union, MoneyGram, WebMoney, China UnionPay, SOFORT, iDEAL and even Bitcoin).
As well company again taking care of their clients’ comfort and introduced a local bank transfer option, which enables to fund the account through local banks and currency with no conversion charges.
XM Minimum Deposit amount is five USD for multiple payment ways supported all told countries. However, the amount varies according to the chosen payment method and trading account validation status. Yet, you can read and find all necessary info in the Members Area.
0% Withdrawal Fee applies traders and offers zero fees on deposits & withdrawals. Very pleasant addition indeed, as the XM company got all the transfer fees covered including e-wallets, major credit cards, instant account funding, and wire transfers with no hidden fees or commissions.
Go To XM.com Official Site
=> XM Mobile Apps
XM.com is available on a number of Android and Apple devices, including Apple iPhone, Apple iPad and Android tablets and Android phones. You can download their apps from the Apple App Store or the Google Play Store. They are both fully functional and allow for monitoring and trading on-the-go. The desktop platforms for PC and Mac both support one-click trading.
=> Platforms & Tools
XM group could be a MetaTrader-only broker providing the quality, out-of-the-box experience. This means it offers the suite of platforms from MetaQuotes Software Corporation, developer of the popular MT4 and MT5 platforms for desktop, mobile, and web. Read our full MetaTrader guide.
While MetaTrader 4 and MetaTrader 5 come standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas.
Besides spreads, a wide range of instruments, and different account types, XM Group’s MT4 and MT5 platform setup and the default MetaTrader experience offer an MT4/MT5 installation file wrapped in Windows Emulator for MAC OS Installation.
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=> XM Features
XM is proud of its history and its accomplishments. Its ‘Milestones in our Corporate History’ chart goes back to 2011 and points to a background of trustworthiness and corporate involvement.
The XM management has visited over 120 cities around the world to connect with their clients and partners in order to interact with them on a face to face basis. They have hosted more than 100 seminars to educate traders, enabling them to make better trading decisions. These activities have helped XM reach the best levels of consumer retention of any Forex broker, anywhere.
In fact, XM prides itself on having over 300,000 real accounts opened to date from 196 countries and over 150,000,000 trades executed with zero re-quotes or rejections, ever.
There are over 100 financial instruments to choose from and no commissions or hidden fees.
In the XM.com Learning Center, account holders can benefit from weekly webinars in 13 different languages including Arabic, Bengali, Indonesian, Polish and others given by 18 expert instructors whose pictures are presented on the site.
The list of video tutorials seems endless and cover topics as basic as how to open a Forex account to how to use a MT4 Droid pad on the Mobile Trader app.
Upcoming XM workshops and seminars are listed as are ones that have already taken place. At the time of this XM review, the schedule had already ended and no new events had been posted, the last one having taken place in Kuala Lumpur, Malaysia on March 28th 2015.
In addition, their economic calendar posts any upcoming events taking place in markets throughout the world.
Is XM safe or a scam?
The XM broker group of entities stuck to enhanced regulatory standards as fully compliant with the necessary regulation policies in particular jurisdictions. As the XM company headquarters in Cyprus, it holds an operational license from the Cyprus Securities and Exchange Commission (CySEC), as well as regulated by the FCA (UK) and the Australian ASIC (Trading Point of Financial Instruments Pty Limited).
Therefore, Trading Point of Financial Instruments Ltd (XM.com) considered being a safe broker as clients are operated in accordance with the Markets in Financial Instruments Directive (MiFID) of the European Union. Meaning the whole EU is covered as XM holding registrations at various governmental institutions BaFin (Germany), CNMV (Spain), MNB (Hungary), CONSOB (Italy), ACP (France) and other.
In addition, XM allowed to offer its services across the globe with its IFSC Belize license, which is, of course, an offshore one that does not actually implement strict overseeing of the trading processes, yet additional heavy regulation of the XM made it an acceptable choice.
The main idea of the regulation is that the trader can trade secure, knowing that clients funds collaborate according to the strictest rules with minimized risks of frauds or unfair use. XM operates its trading environment through investment grade banks and uses segregated accounts, along fall under the Investor Compensation Fund that ensures recovery of funds up to €20,000 in case broker goes insolvent (note that the coverage scheme depends on particular entity).
Besides, one of the advantages a trader gets is Negative Balance Protection, so there is no risk to lose more than available balance.