XM review – One of the best Forex brokers on the market
Forex Trading has become one of the most popular activities all love the world. The forex market has enhanced to almost every single country in the world. This means that people from all over the world are involved in trading and are making their living out of it. Forex trading has become especially popular throughout the past several years. This can be due to several reasons. First of all, the structure of the market is promising big earning within a short period of time. Second, it is one of the most dynamic industries in the world, which is affected by any move globally, meaning that until the moment that something is operating, there is a chance of benefiting from it.
While the market is increasing and more and more people are becoming involved in the industry, it is very hard for brokers to maintain their positions and to fight the high competition. The philosophy is very simple, the survival of the fittest. The brokers that have the best offers and the guarantee the best experience to the traders end up being the top brokers with millions of traders on the account.
Choosing the right broker is something that will most likely define 70% of your path in trading. The better partner you choose, the happier life you will live. The forex industry works in the same way. The better are the offers and terms from the broker, the more it seems that it will be suitable for you and match your wills. This is something that you should consider.
As far as there is quite a big number of brokers available in the market, it is very hard to determine who is who and who is the best one. But do not worry, we are here to help you. In this article, we will be talking and reviewing one of the top brokers in the world, XM Forex broker. We have seen almost every single of them and XM forex broker is one of those who left the most remarkable impression. If you were looking for a partner, you no longer have to check the horoscope or think twice, but definitely check XM. If this was not convincing enough, we will make it clear down below.
XM Forex Review
What gives you the first impression regarding the person while meeting humor her? the look right? This is exactly the same as the broker. The broker does not have the face, though it has the website representing the broker as an individual. This is something that you check the first and that leaves the first impression on the visitor.
The general look of the website is very serious. The major colors are black, red, and orange. This variance of colors highlights the dominant nature of the broker. This pretty much means that the broker is very serious with the intentions and thus, wants to impress the customer at the very first sight. The home page of the broker is informative. You can immediately see the most important details. Those are the account registration tabs, the information regarding the leverage, spreads, and of course the most impressive bonuses.
All of this is placed on the home page of the broker. If you scroll down the page you will find some other information as well. The information includes the main value of the broker, the vision, and the information regarding the tools and the platforms. All of this is very important, though not only this information is available on the home page, but on the menu tab as well.
At the bottom of the page, you will also see the list of the possible sections and the messaging icon on the right lower corner of the page. All of this is a clear example that the navigation through the page is very easy. This is very important. Making the journey comfortable for the customer is the top priority of the broker.
License and Background
The main aspect to consider while choosing the broker is the license. If the broker is not licensed or has not provided any information about the licensing regulator or the address of registration, it means that most likely the broker is a scam. With the XM you do not have to worry about any of these things. Trading Point of Financial Instruments Limited is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). XM Global Limited is authorized and regulated by the International Financial Services Commission (IFSC). Trading Point of Financial Instruments UK Limited is authorized and regulated by the Financial Conduct Authority. Trading Point of Financial Instruments Pty Ltd is authorized and regulated by the Australian Securities and Investment Commission (AFSL). Trading Point MENA Limited is authorized and regulated by the Dubai Financial Services Authority (DFSA). The license number is also available on the webpage. You can doublecheck them with the regulators.
Another interesting fact is that XM has become the choice of over 3,5 million people, which is a huge number for the broker and for the industry which has been evolving now. XM is introduced to 196 countries.
The team is another very important aspect. While the support team and the customer service is available 24/5, the XM broker has over 450 professionals in the team. Team member speaks in 30 languages, which means that customer of almost every background and origin can proudly address the support team and receive help in the native language. This is an extremely positive gesture.
XM broker has over 1000 instruments, 16 full featuring trading platforms. There are not many brokers who can boast with the incredible number of over 2,4 billion trades executed with the zero requotes or rejections. The management is working hard on increasing the company and thus hold around 120 meetings annually in order to meet the new clients and improve performance as well as to raise international standards.
While the above-mentioned information is already very valid for naming XM as one of the top brokers available in the market, it should be mentioned that the company manages to be exceptional in every aspect. The most important part for the customer is to choose the right XM forex account and to have several options for choosing the most suitable one.
The first thing that will pop up while opening the website is the Demo Account tab. This is something very important for the new traders especially. A demo account is basically the guide through the hard and complex path of the forex market. With a demo account, you do not have to invest your money, but instead, use the virtual fund given by the broker. Everything happens in the live regime with the real number and nets. Though the only thing is that you never benefit from trading at the same time, you never lose from trading. Once you decide that you are ready to switch to a live account, you will already have quite a good experience with trading and will be acquainted will the most essential tools and strategies.
No deposit bonus account is another great opportunity offered by the XM broker. This means that whether you are the new trader or already have some experience in the industry, you can still create the account and receive the bonus fund for the first time only. This gives you some extra time for learning and gaining experience, simply with the new broker. The no deposit bonus means that you do not have to make deny deposits, but have to create the account. As soon as you register you will receive the bonus fund, which you have to trade at certain leverage. If you are successful to do that within a specific timeframe, you will be able to withdraw your funds. If you can not manage it, it is still okay, you have never invested your own money.
As for the live accounts, the XM offers four different live accounts for the costumers. The live account is the Micro, Standards, XM Ultra-Low Account, and Shares Account. While there are some differences among the accounts which is very logical, the leverage rate for all of the accounts remains the same. The leverage can be from 1:1 to 888:1. The difference is with currencies. The micro account offers the largest variety of currencies. The difference is with XM forex broker spreads as well. The lowest available spread is with the XM Ultra-Low account. This is actually why the account is named ultra-low.
The spread for the XM Ultra-Low Account is 0.6 pips. For the rest of the accounts, the spread is 1 pip. The maximum amount of orders is 200 for all accounts, besides shares. There is a limit of 50 positions. Besides all of the mentioned the difference is with the minimum deposits as well. With the Micro and Standard account, the minimum deposit is as low as $5. For the XM Ultra-Low Account, the minimum deposit is $50. As for the Shares account, the minimum account is $10,000. The XM forex broker minimum deposit is truly minimum, as you will hardly ever come across the broker with requesting only $5 for opening the deposit.
There is one more account, which is for Muslim clients only. The account is called Islamic account and has some benefits and advantages for the Muslim costumers. They also accept specific currencies. Though with the shares account you can also choose the Islamic account type.
In the XM forex Trading section of the page, you will find the information regarding forex trading overall, the possible commodities, indices, and the CFDs. There is enough information to get acknowledged with the tools and to find out even more. The forex trading marketplace, as it stands today, is the world’s largest and most liquid market due to a number of factors which include, but are not limited to, ease of performing transactions over the internet, the modern development of travel, ease of international communication and modern transportation, which have made our world a smaller place.
Participating in the forex trading market via a broker like XM means that the client receives access to real-time pricing of the forex market and is quoted buy and sell prices for a number of instruments via an online XM forex trading platform. The client has the freedom to decide at which price they decide to buy or sell, and vice versa, and can execute a transaction at any time they wish.
CFDs on stocks are subject to dividend adjustments. When stock security pays dividends to its shareholders, dividend adjustments will be made to the trading accounts of clients.
During any trading day, stock prices of specific companies will go up or down. Since a stock index is a compilation of a basket of underlying stocks, its actual price will move up or down based on the overall dynamics (mathematical and statistical formula) of which each stock price contributes to its final price.
Along with the global currency exchange markets, commodity markets offer various investment opportunities for retail traders worldwide. Soft commodities such as sugar, wheat, or corn have been traded for centuries, and investors’ preference for these financial derivatives is attributed to the major role they play in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable means of risk mitigation even during times of inflation or economic uncertainty, ensuring both the contract buyer and seller against drastic price movements that may cause increased losses.
XM broker offers two major platforms. Those are the MT4 and MT5. Those two platforms are two of the most common platforms in the forex trading industry. Both platforms are very simple to use and both of them are adapted to any kind of device. This means that you can use both platforms on your Windows, Mac, or even smartphone and even download the XM Forex app.
Offering two options is always a great move, especially when both of them are synchronizing with different devices. While there are no major differences between MT4 and MT5, the only thing that you have to consider is that you need to have an XM MT5 trading account to trade stock CFDs. Though, if trading CFDs has never been your aim, then you can simply skip this part.
What do you want to do, once earning a lot of money? You want to withdraw all of your funds. It is very important that the broker offers you multiple ways of payment. This means that the company is in good terms with all major banking companies and has full service ready for the costumers. Accepting most of the payment methods means that the broker gives you all chances first of all to earn money and the second of all to take all of your money. There are over 25 payment methods available with the XM broker.
The most common means of payment are Visa, Bank Wire, crypto wallets, and many others. The XM broker supports them all. There are no commissions on the XM Forex withdrawal unless the specific bank has the restriction. Almost every transaction takes less than a second, though if in any case, it takes more time, it should be longer than several minutes. The great thing is that most of the brokers have hidden fees and charges especially on the withdrawal of the funds. With XM you will never tackle this problem. The XM covers even the fees imposed by the bank wire transaction. There is a certain limit on the withdrawal, which you can read about in the costumer’s area.
XM accepts any currency. You can deposit any currency and then XM will automatically exchange it to the relevant currency. You can also make the transfers with the e-wallets which are very commonly used on XM. Skrill and Neteller are accepted. The transactions are instant unless you deposit or withdraw with a bank transfer. It might take as much as 24 hours.
Promotions and Bonuses
We have come to the most exciting part of the broker. XM is known as a very generous broker. If you thought that all of the above mentioned was not enough, let me uncover the bonus options from XM. There are a number of bonuses available with XM broker. There is a 50% XM forex bonus with up to $5,000 deposit bonus on your account. This is a great opportunity and worked for every account type you have.
You can also receive 20% up to $4,500 bonus deposit, or any other equivalent currency. The good news is that the promotion is active for any amount of deposit. Even with a $5 deposit you still get the two tie bonus. The promotion is not valid for the XM Ultra-Low account only. The promotion is available on both platforms.
Another promotion is regarding the loyal costumers. XM occasionally marks certain events in the calendar, which should be dedicated to the promotion and the loyal clients of the XM broker. During those days, the XM is especially generous and awards loyal clients with the exclusively high bonuses. As you trade, you will earn XMP which can be redeemed at any time for credit bonus rewards in the Members Area. In the Members Area, you can also monitor your balance of XMP at any time, including the equivalent value of your XMP as a credit bonus. Any profits generated can be withdrawn at any point in time, however, any withdrawal of funds will result in the proportional removal of your XM forex broker bonus account.
Despite the fact that XM managed to go through all stages and all requirements flawlessly it also managed to make the education sections as sophisticated as possible. The education section with XM involves all of the material starting from the origin of the currency pairs and the great history, dating back to World War II. Besides this, there is information regarding trading tools, nets, and the statistics that are available on the site.
Within the educational section, the most valuable information which you can get is the Seminars and the Webinars regarding forex trading. There is the Live Education section, which is a brand new addition as well as the Platform Tutorials, which is also a great benefit to know until you start trading yourself.
The educational section provides almost all the most important information regarding the tools, the platforms, the Forex trading itself as well as the strategies. While the strategies should be chosen individually, it is a great chance for everyone to get experience from some of the common practices and to use those strategies in practice shortly after. The educational module is ever-increasing, meaning that some of the live educational sections will be added and that more video tutorials will be available as well.
Basically XM offers the online course on Forex trading and all relevant information, as well as the exclusive XM forex broker app.
While the Forex trading market is huge and the competition is ever increasing, XM broker manages to set its own standards in the market. With more than 3.5 million costumes and dozens of awards, it has not once proven that XM deserves the title of the best Forex broker in the world. The broker is focused on customer needs and makes the journey through a very complicated path very comfortable as well as reliable.
It is very important to have high hopes and it is even more important than the high hopes come true. With the XM broker, you can be sure of your partner. The journey of success begins here, where the quality is over quantity and the experience is the most important value.