XM has won several awards for their service. One of its latest recognitions came from the World Finance 100, which rates the top financial companies in the world. Among its other achievements, the company was ranked the best Australasia forex broker in 2020.
Its list of clients includes companies such as Google, Facebook, Amazon, and Alibaba. It is also the only online brokerage to provide investors with direct access to energy markets, which include the crude oil and gas industry. Traders can also benefit from XM"s low spreads.
Traders can open accounts with a wide range of different deposit options. Some brokers will accept a deposit via electronic wallets. Other methods include credit and debit cards. Generally, most brokers will not charge a deposit fee. However, in some cases, brokers will require an ID or a background check. If you want to invest in Sirius XM shares, it"s important to find a broker with NASDQ access.
XM offers a wide variety of account types for both retail and professional traders. The minimum account balance is $5. While most brokers will charge a small fee, XM does not. Traders can expect to pay an average of $0.04 per transaction. XM offers a variety of instruments, such as forex, CFDs, and binary options. Moreover, it offers free market research tools.
XM also offers live support. Traders can contact XM directly by phone or email. XM websites use multi-factor authentication, including encryption technology, to ensure that data is secure. Users may also opt to receive an email confirmation of their account validation.
For the first time, a trader will need to open an XM account. During this process, the user will be required to select a preferred account type. XM offers a range of deposit methods, including bank transfer, Skrill, Neteller, WebMoney, and Perfect Money. A client can also invest in a demo account. Before executing an order, XM requires a customer to submit proof of identification and residency.
Unlike some online brokers, XM does not impose any commission fees. However, it does have a minimum deposit requirement, which can vary from $5 to $100. Clients can trade with a minimal margin of five USD, and can increase their initial investment to up to $10,000.
Once a client opens an account, he can trade using the XM app or MetaTrader. MT4 is the favored platform by most traders, but MT5 has a number of more advanced features. This includes the ability to trade across all browsers and devices, as well as expanded charting and order-type options.
Traders can also choose between three different order types: market, limit, and stop-loss. Market orders are executed at the current market price, while limit and stop-loss orders are executed at a specific price.