Traders can also use the XM mobile application, which allows them to access the markets from the comfort of their homes. The application is available in both IOS and Android platforms, so traders can choose the best mobile trading option for them. With the help of the XM mobile application, traders can place orders in a matter of minutes. Moreover, the application is easy to use and highly configurable.
To open an account with XM, traders must provide a color copy of their valid passport. They must also verify their identity by providing a residence address. Aside from that, XM requires them to provide their debit/credit card details. After registration, they can adjust the leverage level in their account.
XM offers a demo account, which can be used by traders to test out their trading strategies. It gives them the opportunity to trade using a virtual balance of $100,000. Users can access real-time data and market analysis to get an idea of how the market works. The demo account is offered to XM clients for a period of 120 days. However, after that time, the account will be closed.
XM is a regulated broker in several jurisdictions, including the United States, Canada, and the United Kingdom. All regulatory agencies have strict compliance guidelines. For example, XM is registered with the CySEC, and it is required by the agency to submit financial statements on a regular basis. As such, it must ensure that it is operating with adequate capital.
XM is a licensed forex broker that offers a wide range of financial products. The company has received multiple awards for its service and research. Among the other benefits that XM offers, XM has an Investor Compensation Scheme. This program is designed to protect traders if the brokerage firm is unable to pay its obligations to the client. Also, XM has a Zero Account, which is a paper trading demonstration account that requires a minimum deposit of $100.
XM has a wide variety of payment options, including e-wallets, bank transfers, and credit/debit cards. These payment methods are available across fifty-eight countries. Moreover, there are no hidden fees. On working days, XM processes withdrawals within 24 hours.
XM also has a 100% Rebate / Cashback program for all its customers. This program guarantees that traders will be repaid their initial deposits if their trading performance is not satisfactory. Traders can find out if their rebate / cashback has been awarded through the Member Area page.
XM also has an impressive array of research tools. These include market news and analyses, as well as market reviews and explanations.