Traders have access to MetaTrader 4 and MetaTrader 5 platforms, which are highly-rated and provide full training. The platform allows clients to trade currencies, commodities and precious metals in a variety of ways. Traders can also use XM"s Mobile Applications to conduct trades on the go.
XM offers several payment methods to deposit and withdraw funds. Using a credit card is one of the most common options, but clients can also fund their account via wire transfers, electronic payment gateways and local bank transfer services. Unlike most brokers, XM does not charge withdrawal fees. However, if you do wish to make a withdrawal, you will be required to provide an MT4/MT5 ID.
XM"s MetaTrader4 and MetaTrader5 platforms offer users an array of trading tools, including indicators, technical analysis and trailing orders. You can also trade currencies, commodities, indices, precious metals, energies and other financial products. Aside from the regular trading tools, XM also provides a range of educational materials to help you become a successful trader.
If you are a beginner, the XM Demo Account can be a great way to get acquainted with the broker. This account gives you access to a virtual base currency balance of $100,000. It also allows you to test your trading strategies without risking any of your money. As an added bonus, XM will give you access to educational materials and real-time data.
Traders can choose from four primary accounts. Each of these has different minimum deposits, commissions and other fees. Users can deposit a minimum of $5 for a Micro Account and a minimum of $100 for a Zero Account. Some of the more popular XM entities require a higher minimum deposit.
XM"s trading fees are reasonable. They are based on a spread that adds a fifth digit to regular 4-digit quoting prices. Traders can use a local bank transfer option to fund their accounts and avoid conversion fees. In addition, XM"s CFD fees are competitive, with no deposit or withdrawal fees.
The XM Group was founded in Cyprus in 2009. The group has been regulated by the CySEC and the Australian Securities and Investments Commission (ASIC). XM"s main entity is based in Cyprus under the Trading Point of Financial Instruments Ltd. The company also operates in Australia, and has obtained licenses from IFSC in Belize.
XM is a reputable broker that has been in business for more than 10 years. As such, the brokerage is a legitimate company that treats all its clients with respect. Traders can register for a demo account, which takes a few minutes to set up. Once you have a demo account, you can compare other brokers and start testing your trading strategies.