XM COM Customer Reviews 2022

The problem here is that usually high fees or insurance premiums have to be paid. In addition, it is difficult to guarantee fixed spreads, because the stock market does not work on the principle.Fixed spreads are generally unnatural. Another benefit of the software is that it is available for forexhero every device. Mobile trading today is a standard requirement for the trading software, as it is important to be able to respond to news from within. Positions can be opened, managed, or closed by your smartphone. Of course, charting and analytics are very important to successful traders.

There are four types of user accounts that XM offers for its users. The following accounts allow up to 200 open or pending positions for each client. If you leave your XM.com account unused for 90 calendar days without making any trades, the online broker will label your account as dormant. It removes pending bonus offers, XMPs, and promotional credits from dormant accounts. This money is deducted from the dormant account every month until the balance turns zero.

The XM review has further assessed XM based on its benefits and shortcomings. The pros and cons of using the broker’s trading account have been summarized below. XM Zero accounts feature near-zero spreads (EURUSD average spread is as low as 0.1 pips) and a no requotes execution policy with all trading styles welcome. It is the beginning of the second quarter of the year, which means it’s time for the quarterly reports with the unprofitability percentage from the forex brokers. Most of the brokers have already updated their risk warnings stating the loss percentage, although some of them are yet to add their values on the websites.

Is XM regulated?

Our experts agree that using a demo account is a great way for you to practice your trading strategies without financial risk. A demo account is a virtual balance account.You can use it to try out all the features of Broker XM and trade without risk. It is also a great way for beginners and advanced traders to develop their own strategies or test new markets. XM offers different MT4 and MT5 platforms for all popular operating systems . Your account gives you an unlimited access to all XM trading platforms.

Trading CFDs on leverage involves significant risk of loss to your capital. Verify your account by providing your ID, passport or drivers license. Utility bills and bank statements are accepted as proof of residency. One such requirement by CySEC is that the broker must regularly submit financial statements tokenexus to ensure the firm has adequate capital to operate. Trading Point MENA Limited is authorized and regulated by the Dubai Financial Services Authority (Reference No. F003484). XM is owned and operated by Trading Point Holdings, which is a licensed and multi-regulated financial institution.

The journey of success begins here, where the quality is over quantity and the experience is the most important value. 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. MetaTrade 4 and MetaTrader5 are supported by XM, but a proprietary platform is not available.

Filter according to broker or product type, including stocks, futures, CFDs or crypto. Overall, this platform appears to have many of the features and products traders are looking for. XM Forex is certainly worth the time opening a demo account and exploring the possibilities. Leave a comment below and let others see your opinion on the company. Whether it is good or bad, on sort of criticism will help other identify if this is the right fit for them. Some of the conditions for spreads with XM include spreads as low as 0 pips, which can put you into profit quicker and save you money.

Deposits and Withdrawals

XM strives to provide its clients with one of the greatest user experiences in the industry. Wire transfer deposits and withdrawals over $200 are included in XM’s zero fees policy. Funds are generally available in two-to-five business days.

The broker works as an intermediary for tradable contracts for difference. In summary, the offer is very large at first glance and also the company data prove to be trustworthy. 74-89% of retail investor accounts lose money when trading CFDs.

The broker also got a good score in the Customer Support category thanks to the timely and professional answers of the support team. The broker has a good score in the Fees category thanks to moderate spreads in the Standard Account and reasonable swap rates. Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services.

XM Group offers around 1300 instruments, including 57 currency pairs, but it lags behind the leading forex brokers who provide their clients with thousands of tradable symbols. While XM Group’s commission-based account pricing is competitive, its Standard account spreads are pretty high. XM offers all its trader clients a choice between the counter trend trading strategy use of the two most popular retail Forex / CFD trading platforms globally. Clients with any account type may choose to use either MetaTrader 4 or MetaTrader 5. Both platforms are well-known, intuitive, and easy to understand, and have been around for many years. Both platforms are also very popular with the retail trading community.

Yes, XM Group is completely safe as it follows strict regulations enforced by the Cyprus Securities and Exchange Commission . The broker’s emphasis on transforming beginner traders into expert traders makes it stand out amongst its competitors. It especially impressed our experts to discover that XM Group also broadcasts podcasts and uploads videos that outline the latest trading news headlines.

I’ve been testing their services for 3 months now and I must say they really offer a top notch trading environment. My orders are filled without any problem, execution is super fast, and spreads are really tight. I also like their professional account managers and market experts, they’re a big help. I’ve withdrawn several times already, all without any issue. XM clients have access to the well-known MetaTrader4 and MetaTrader5 platforms, which are what allows them to conduct their trades. The platforms have received high ratings as a result of their good reputation and are always a plus for brokers.

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. XM Group provide you with very good proprietary trading tools for the MetaTrader 4/5 trading platforms. These tools are fully automated and can help you to perform technical analysis across multiple instruments and charts, in order to identify potential trading opportunities.

If you have been scammed You can report the firm or scam by contacting cyber operatives on their website for more recovery info. XM Group, despite its drawbacks, provides traders with exceptional research and education, making it a good pick for novice and seasoned traders who value quality market research. It also offers a good variety of account types to suit the different needs of its clients. Plus, it’s a well-regulated, standard MT4 broker, which is a relief for clients who want to minimize the risk of suddenly losing their money on a broker.

Broker Types

This means that I can test most brokers with a platform that I am already familiar with. You wouldn’t want to master one platform only to be disappointed if you want to switch brokers and the platform is not available. Other prominent MT5 brokers to consider who are on par with XM include FP Markets. XM Group is authorised and regulated by the Australian Securities and Investment Commission and Cyprus Securities and Exchange Commission . This helps to ensure safety of client funds and that they abide by strict regulatory standards with the most sought-after regulators.

For example, in a micro account, you can trade with very small position sizes . In terms of trading platforms, XM relies on the world-famous platforms MetaTrader 4 and 5. This is, in our opinion, one of the best software for private traders. We will give you a more detailed explanation in the section Trading Platforms. Should you avoid theonline brokerXMor is it actually a recommendable company?

It delivers a new breadth of asset classes and has an economic calendar that tracks main market developments. Between MT4 and MT5, this trading platform may be intimidating for beginners due to its complex programming and advanced tools. There are several reasons why XM is one of the best-regulated brokers and trading service providers. One can test the XM brokering experience with a demo account to its trading platforms and services. But, before you invest your thousands of dollars with this particular broker service, it is essential to know the ins and outs of it. From auto trading services to commissions spread, this XM review explores how this CFD and FX broker service registers its proclaimed 99.35% efficiency across its activities.

While XM falls short of industry leaders when it comes to platform offerings, market coverage, and pricing, the company excels in providing great educational material and market analysis. XM’s 1.5 million traders and investors can pick from a wide choice of XM products and services, including advanced trading solutions that are also suitable for novice traders. Our review found that XM offers three mobile trading platforms, which is more than other brokers, including MT4, MT5, and the XM App.

XM Global Limited has a very impressive resume, outshining some of the industry pioneers. Since it was founded in 2009, XM has grown to a large and well-established international investment firm and has become a true industry leader. These factors, combined with no requotes and no extra commission policy to ensure that the XM group is the best broker among the other broker. If the market touches this price, your position will be opened . XM Group accepts the most commonly used Local Payment Methods today including Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc.

Should you choose fixed or variable spreads?

Traders should consider the source of any claims of XM withdrawal problems and the lack of evidence before trusting misleading smear campaigns. After regulation, safety, and the fee structure, the next most important element to consider when choosing a Forex / CFD brokerage is what is offered for trading on the broker’s menu. Some traders will be seeking exposure only to one asset class, such as Forex, or CFDs on individual stocks and shares, while others will be looking for diversification. The overall pricing at XM Group depends on the account type but is affordable. The broker turns out to be a low-cost solution compared to IG or CMC Markets.

XM does not have a crypto funding method, which is a bit of a let down considering that many traders have crypto wallets these days. If you are one of those traders, Axi can be a good alternative if you are looking for a broker with crypto funding. XM Group give you access to trade a wide range of more than 1000 financial instruments including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies & CFDs. This is an excellent selection that I would put up there with some of the best in the industry. However, if you want even more, you could consider TMGM who have over 15,000 or Plus500 with more than 2,000. Few users complain that customer support is only accessible from Monday to Friday.

Answer 4 simple questions and get a list of the most relevant brokers.

Is XM a regulated broker?

XM group following the model ensures that they are one of the best industry leaders for suitable trading conditions for users at all levels. Combined with a robust human and regulation approach, it makes the XM group one of the best trading brokers available for trading globally. XM Group allows users to select 16 various famous Meta trader 4/5 trading platforms for PC and MAC.

That company and their affiliates were scam operations and I lost about $55,000 or so. In my zeal to recover those losses I sought out 7 different Binary Options Trading Companies and worked with them all off and on for a while, as noted above. When I total my out-of-pocket expenses, bonuses given, and real profits made , my losses sum to about $860,000. For each responsible company, I had Excel spreadsheets that detail every transaction I made. After my losses reached the level I couldn’t continue, I set out to finance recovery efforts by so-called recovery experts. I financed so many I do not have an exact count, but there were at least 7 or 8.

The account opening process with XM is relatively quick and painless. You can expect to get your account open and ready on the same day that you begin the account opening process. Clients only need to navigate through a couple of web screens where they submit a few details and choose the type of account they want to sign up for. We end this section on fees by looking at incidental transaction fees, occurring through non-trading processes. Finally, data on the average round trip cost of trading the precious metals Gold and Silver shows that it is never below 30 cents for Gold and 3 cents for Silver. Higher leverage allows to trade the borrowed capital which increases both the profit potential and the risk of loss.

A maximum of 50 positions can be open or pending at the one time. In asurvey, one of the most common actions of governments across jurisdictions is government-issued notices about the risks of investment in cryptocurrency. These are mainly designed to educate citizens about the difference between currencies issued and guaranteed by the state, and those which are not. Although XM is only a baby firm in comparison to some others, it has quickly become an industry leader. Many Professionals seem to favor XM, with over 300 Professionals currently signed up with the firm – all holding years of financial experience, in their own right.

How To Deposit With XM

Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as the preset leverage levels may be high. XM is a CFD and forex broker with a great number of currency pairs available for trading.

To have a browse through XM’s legal documents yourself you can access them easily on its website. Here, you’ll find the broker’s terms and conditions, its bonus program, its loyalty program, among other things. Currently, the firm offers 12 documents for traders to read through which can all be easily downloaded as a PDF, allowing you to flick through on your phone during travel periods or downtime.