XM Forex Broker Review: Top 5 Reasons for Choosing XM as Your Forex Broker
Trading forex can be a daunting task for those who are new to the game. With so many brokers out there, how do you know which one is right for you? In this XM forex broker review, we will explore the top 5 reasons why XM is a great choice for your forex trading needs. From low spreads and fast executions to a variety of account types and excellent customer service, XM has everything you need to start trading forex with confidence.
Why XM is the one of the best Forex broker?
XM is a trusted name in the online trading industry. The company is regulated by top-tier financial authorities, offers competitive spreads and leverage, and provides a user-friendly platform.
Here are some of the top reasons to choose XM as your Forex broker:
1. Regulation by top-tier financial authorities
XM is regulated by the Cyprus Securities and Exchange Commission (CySEC), one of the most respected financial regulatory bodies in Europe. This ensures that your funds are safe and secure with XM.
2. Competitive spreads and leverage
XM offers some of the most competitive spreads in the industry, starting from just 0.8 pips on major currency pairs. Leverage of up to 888:1 is also available, which gives you greater flexibility in your trading strategies.
3. User-friendly platform
The XM platform is designed with the user in mind. It is easy to use and navigate, so you can focus on what’s important – making profitable trades.
XM Regulation and Licensing: Account Segregation for Client Fund Security
The CFTC (Commodities Futures Trading Commission) is the federal agency that regulates the trading of commodity futures and options contracts in the United States. The CFTC was created in 1974 with the signing of the Commodity Futures Trading Commission Act, which merged two existing federal agencies: the Commodity Exchange Authority and the Commodity Futures Trading Commission.
Forex regulation and control by NFA is a bit more stringent than its counterpart, but they are both essential regulatory bodies when it comes to online forex trading. Unlike many other countries, such as Australia and New Zealand, who have combine these organisations into one entity, USA has chosen to maintain a distinct difference between them.
In order for your account to be protected in case a broker gets into financial difficulty or goes bankrupt, your broker should hold your funds in a segregated account. In some countries like Australia, brokers are required by law to keep funds segregated from those of other clients and from their own money. Brokers operating in other jurisdictions may not be required by law to segregation accounts, but may choose to do so voluntarily for client protection purposes or due to local practice. If
The different account types that they offer
XM is a forex broker that offers three different account types: Standard, Micro, and Zero. There are several key differences between these account types that make XM an attractive choice for forex traders.
The Standard account is the most popular type of account at XM, and it is designed for experienced forex traders. This account type gives traders access to all of the features and benefits that XM has to offer, including leverage of up to 1:888, low spreads starting at 0.0 pips, and no requotes or re-quotes.
The Micro account is designed for beginner forex traders. This account type gives traders access to all of the features and benefits that XM has to offer, but with lower leverage of up to 1:200 and higher spreads starting at 3 pips.
The Zero account is XM’s premium account type. This account type gives traders access to all of the features and benefits that XM has to offer, including leverage of up to 1:500, tight spreads starting at 0.0 pips, and no requotes or re-quotes. The Zero account also comes with a number of other perks, such as a dedicated Account Manager, 24/5 customer support, and exclusive invitations to events and webinars.
XM offers 3 different account types: Micro, Standard and XM Zero.
Micro: Minimum deposit of $5, leverage up to 1:888, spreads from 0.6 pips
Standard: Minimum deposit of $100, leverage up to 1:200, spreads from 0.4 pips
XM Zero: Minimum deposit of $200, leverage up to 1:500, spreads from 0 pip
All account types can be traded on the MetaTrader 4 and MetaTrader 5 platforms.
XM Forex Broker Review: The software and platforms they use
XM uses the MetaTrader4 (MT4) platform which is one of the most popular and widely used forex trading platforms in the world. The MT4 platform is user-friendly and provides traders with all the tools and features they need to trade successfully.
In addition to the MT4 platform, XM also offers its clients a web-based trading platform called WebTrader. WebTrader is a great platform for those who prefer to trade online without having to download any software.
XM also has mobile trading apps for iPhone, iPad, Android, and Windows phones so that you can trade on the go.
The XM Group’s history
XM Group (formerly XEMarkets) is a leading online broker that offers trading in more than 100 financial instruments including forex, precious metals, equity indices, energies, commodities and cryptocurrencies. The company was founded in 2009 and has since grown to serve clients in over 196 countries.
XM Group is regulated by five tier-1 financial authorities: the UK’s Financial Conduct Authority (FCA), Cyprus’ Cyprus Securities and Exchange Commission (CySEC), Australia’s ASIC, the International Financial Services Commission of Belize and the Labuan Financial Services Authority of Malaysia. This regulatory oversight provides clients with added peace of mind when it comes to the safety of their funds.
The company offers a wide range of account types and trading platforms to suit the needs of both beginner and experienced traders. Account minimums are low and there is no commission charged on trades. Leverage is up to 1:500 for retail clients and up to 1:200 for professional clients.
The XM Group provides 24/5 customer support via live chat, email or telephone in multiple languages. There is also an extensive online education center which covers all aspects of forex trading. Overall, XM Group is a reliable and comprehensive online broker that offers a great experience for traders of all levels of experience.
How to get started with XM
XM is a popular online broker offering investors the ability to trade a wide range of financial instruments including forex, CFDs, stocks, and precious metals. In this XM review, we take a look at the top reasons why traders chose XM as their preferred broker.
1. Wide range of financial instruments: As mentioned, XM offers its clients the ability to trade forex, CFDs, stocks, and precious metals. This gives traders a lot of flexibility when it comes to choosing the asset class that best suits their trading style and investment objectives.
2. Competitive spreads: XM is known for offering very competitive spreads on all its financial instruments. This is important for traders because it means they can keep their costs down and potentially make more profits on their trades.
3. Powerful trading platforms: XM provides its clients with access to two powerful trading platforms – MetaTrader 4 and MetaTrader 5. These platforms offer a range of features and tools that can help traders to make more informed and successful trades.
4. Excellent customer support: Another reason why XM is a popular choice among online brokers is because of the excellent customer support it provides. The broker’s team is available 24/5 to answer any queries or resolve any issues that clients may have.
5. Safe and secure: Last but not least, XM is a safe and secure online broker that takes measures to protect the personal and financial information of its clients.
XM Forex Broker Review Conclusion
XM is a broker that is dedicated to providing its clients with the best possible trading experience. That is why they offer a wide range of services and features, which are all designed to help you succeed in the forex market. In this article, we will take a look at some of the top reasons why you should choose XM as your forex broker.
One of the most important factors to consider when choosing a forex broker is the quality of their customer service. XM takes pride in offering its clients 24/5 customer support via phone, live chat, and email. This means that no matter what time of day or night it is, you will always be able to get in touch with someone who can help you with your query.
Another reason to choose XM as your broker is their commitment to safety and security. All client funds are held in segregated accounts at tier-1 banks, so you can rest assured that your money is safe. In addition, XM employs state-of-the-art encryption technology to protect all financial transactions.
Finally, XM offers extremely competitive pricing, with no hidden fees or commissions. Their spreads start from just 0 pips on major currency pairs, and they offer leverage of up to 500:1. This means that you can trade with a much larger amount of capital than you would if you were trading with a traditional broker.
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