XM is a trading name for Trading point holdings that has its headquarters in Cyprus with other branches in the United Kingdom and Australia.
XM broker has three account types for its many clients to pick from depending on their level of experience and also their preference. These accounts are the micro account, the standard account and the XM zero account. Also for beginners and those who are new to the forex business, there is a specially designed demo account that will help them learn the basics of the business.
The XM Micro Account
This is an account that matches the needs of novice and experienced traders. The following are the features of this account.
- A vast range of currency options from the euro, United States dollar, the Great Britain pound and the South African rand among many other currency units.
- Contract size of 1:1000.
- Negative balance protection.
- An option for an Islamic account.
- Minimum deposit of $5
The XM Standard Account
The XM standard account is also an account that is specially crafted for experienced and professional traders in the forex business. It comes with a flexible trading condition that lends it a versatility factor that is a key agent in good trading. Among the features of this account are:
- A wide range of currency options to use from the United States dollar, the South African rand and many other currency units.
- Contract size of 1:100000.
- Allows hedging.
- Has an option for an Islamic account.
- Minimum deposit of $5.
- Lot restriction per ticket is 50 lots.
The XM Zero Account
A new account that features relatively thin spreads as low as zero pips. The features for this account are as follows:
- Low spreads of up to 0 pips
- Fewer currency options compared to the other accounts. It deals with the euro, the United States dollar and the Japanese yen.
- Negative balance protection.
- Allows hedging.
- Minimum deposit of $100
The Company. Security Of Funds
With many years of operation under its graceful wings, XM has managed to spread its clientele base to over 196 countries worldwide. Also as part of its prospecting, it has managed to have large trade volumes with nil requites and rejections at all. Its qualified personnel will ensure you have the best trading experience you can ever want. By looking at various XM customer reviews and comments you can see why the platform is lucrative.
Your funds stored at XM’s coffers are very secure and guaranteed of the utmost safety as part of their clients first operation module. To begin with, XM has the right documentation with proof from the concerned regulatory bodies and authorities. For this, it has the necessary license in every country where it runs its operations. This speaks of its integrity as a company in the volatile forex sector.
It has a clean bill of operation granted by the Financial Conduct Authority (FCA), Australian Securities and Investment Commission, The International Financial Services Commission (IFSC) and also the Cyprus Securities and Exchange Commission. It also has the reference numbers for confirmation.
Among the measures taken to ensure the security of client’s funds are:
- Owning a segregated account for both their operating funds and also client’s funds. This means that clients’ funds won’t be touched or even mixed with other funds.
- XM is a member of the investor compensation scheme that will shield its clients in case of liquidation.
Minimum Initial Deposit
Traders will need to part with a paltry sum of $5 as their initial deposit. This will serve as the base capital for their first trade and also as a shield.
XM offers tight spreads that are as low as 0 pips as noted in them zero accounts. The spreads are also variable.
XM has a very advanced platform in Meta Trader 4 and Meta Trader 5. These platforms work for both personal computers, Android mobile devices and also for the IOS operated devices. This gives this platform a versatility factor in usability with various devices.
The Meta Trader 4
An electronic trading platform from Metaquotes. A very nice platform that has spread its usability to a vast host of devices. Among its special and unique features are:
- Fast execution of trades,
- Provides charts that provide a very good and visual and statistical analysis blueprint.
- Expert advisory services.
- Compatible with a host of many devices from the personal computers, mt4 multiterminal, mac and web trader. It also functions with Android devices, IOS devices and windows operated devices.
- Easy usability to the users.
The Meta Trader 5
A very nice platform for trading that is a recent version with upgraded features. A versatile platform that enables quick executions as well as providing real-time news of the forex market from global sources notably Reuters. Among the many features of this platform are:
- Quick execution of trades.
- Provides multifunctional tools to the user.
- Has real-time news of the forex market from reliable global sources.
- Has superb trading tools in charts that help in analysis.
- Research portal that identifies the best trading options for you.
- Has the stop loss order command.
XM has a variety of promotions that are intended to make the customer experience superb. Among these promotions are:
- $30 trading bonus for all new clients that will be automatically credited to their accounts plus no deposit will be required.
- 0% fees on withdrawals and deposits on all e-wallet payments and also credit card payments.
- Free VPS services to increase the speed in execution of your trades and it is online for 24 hours 7 days a week.
- XM loyalty program that rewards its loyal clients. This offer is seasonal and comes at selected time periods.
Deposit And Withdrawal Methods
XM accepts a range of legitimate credit and debit card payments on top of payments through e-wallets. XM covers all the transaction fees on all e-wallet and credit or debit card payments. It accepts payments from Visa, MasterCard, Maestro, Neteller, Skrill and bank wire transfer. Also, all transaction by wire transfer of $200 and above are also covered in this zero transaction fee policy.
BRIEFLY ABOUT XM
Among the very credible traders, you can come across with features in versatility and also credence. XM despite not having been in the trading sector for long, it is really proving to be a force to reckon with. The products have been tendered perfectly to meet the preference and needs of all traders from beginners to professionals. If looking for a good trading site, go no further than XM.