XM was found in 2009. The company grew fast and currently has over 450 employees in over 120 offices. The company has over 2 400 000 clients from 196 counties. The company supports over 30 languages and it is suitable for clients all over the world. There is also a big amount of different type of analysis and another type of resources which could be used from clients with a different type of knowledge.
|Open Account||Support||Withdrawal||Deposit||Execution||Spread||Overal rating|
XM is a good broker for beginners because it offers a micro account where traders can learn from their mistakes without the need to cost a fortune, but also good for traders with more experience because it offers competitive spreads and good platform with an option for trading with robots.
XM offers three types of account – Micro account, Standard account, and XM Zero account. The Micro account is suitable for new traders that just start with forex and want to get deeper knowledge or just understand what the product is. On the other hand, the XM Zero account is an account that has been designed for experienced traders who are searching for more competitive conditions for trading. You could see a comparison between the different accounts in the table below.
|Micro Account||Standard account||XM Zero account|
|Base Currency Options||USD, EUR, GBP, JPY, CHF,AUD, HUF, PLN, RUB, SGD, ZAR||USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR||USD, EUR, JPY|
|Contract Size||1 Lot = 1,000||1 Lot = 100,000||1 Lot = 100,000|
|Spread on all majors||As Low as 1 Pip||As Low as 1 Pip||As Low as 0 Pips|
|Maximum open/pending orders per client||200 Positions||200 Positions||200 Positions|
|Minimum trade volume||0.01 Lots (MT4)||0.01 Lots||0.01 Lots|
|Lot restriction per ticket||100 Lots||50 Lots||50 Lots|
The minimum deposit of 5$ allows you to open an account without the need to deposit a big amount of money. The option for a micro account is a great opportunity to test in real environments different strategies and expert advisors. This is also a great way to see how the broker works in realtime, what is the execution, what is the slippage, what are the real spreads. Also, this allows you to check what is the support, deposit withdrawal process, etc.
There is also an option for Islamic accounts so the Islamic traders can trade without swaps.
Many brokers have a limitation on the opened position, but the limit of the XM of 200 opened positions is pretty high. This number may seem not important but in many cases, micro accounts are used for averaging strategies, and this requires a lot of positions. When there is a need for even more positions for another instrument you and 50-100 are not enough. 200 is big enough limitation to trade more than enough instruments.
XM offers over 1000 trading instruments in 6 different asset classes. The instrument list in Forex contains 55 currency pairs including major, minor, and exotic pairs. The clients could trade stocks from a big range of markets includes UK, USA, France, Germany, Netherlands, Spain, Switzerland, Belgium, Italy, Greece, Portugal, Sweden, Finland, Norway, Austria, Russia, and Australia. Commodities include eight instruments like Wheat, Cocoa, Sugar, Corn, and others. The list of equity indices contains 18 of the biggest world indices. The clients of the broker could also trade GOLD, SILVER, Oil, and Natural gas.
|Currency Pair||Minimum Price|
|Minimum Spread||Average Spreads*||Margin Percentage||Long Swap||Short Swap|
|Minimum Spread||Min/Max Trade Size||Margin Percentage|
|COCOA||US Cocoa||1.00000||15||1/500||10 %|
|COFFE||US Coffee||0.00010||0.008||1/80||10 %|
|CORN||US Corn||0.00010||0.0275||1/500||10 %|
|COTTO||US Cotton No. 2||0.00010||0.0047||1/100||10 %|
|HGCOP||High Grade Copper||0.00010||0.0077||1/200||10 %|
|SBEAN||US Soybeans||0.00010||0.0185||1/250||10 %|
|SUGAR||US Sugar No. 11||0.00010||0.0009||1/500||10 %|
|WHEAT||US Wheat||0.00010||0.025||1/500||10 %|
|Currency Pair||Minimum Price|
|Minimum Spread||Average Spread||Margin Percentage||Long Swap||Short Swap||Value of 1 lot|
|GOLD||0.01||0.3||0.35||5 %||-10.1||-5.47||100 oz|
|SILVER||0.001||0.03||0.035||10 %||-1.18||-0.68||5000 oz|
All the offered instruments are with very competitive spread swap and execution. Such a trading environment can improve your profit significantly.
The clients could choose between Meta Trader 4 and Meta Trader 5. XM also offers different types of these platforms – the clients could access them from Desktop (Windows and Mac), Mobile (Android and iPhone), and Web Trader.
MetaTrader is offered by the best forex broker. It offers not only a user-friendly interface for beginners but also very powerful tools for advanced traders. There is a built-in interface to create your own trading robots and complex indicators. There is also a huge forum supported by the MetaQuotes and there you can find countless custom indicators, expert advisors and scripts.
When you create your own strategy (or download from someone else) you can use the powerful MetaTrader backtester to see how that strategy has performed during the years.
There is also an integrated option for VPS for your trading robots, which you can operate directly from the platform. You can be sure that they are up and running without having to face complex technologies.
The social trading in MT brings up together investors and traders. Bot need just the platform and can subscribe to follow or just create their own signal. There is a huge list of available signals with very sophisticated statistics.
XM offers his services to clients from three main jurisdictions. In Cyprus, the company is regulated by CySEC under license number 120/10. In Australia, XM is regulated by the Australian Financial Services License by ASIC (number 443670). And in Belize XM is licensed by IFSC under license number IFSC/60/354/TS/19.
XM offers over 25 deposit and withdrawal methods. They include Credit Cards, Skrill, Neteller, Union Pay, Sofort Banking, CashU, and others.
XM offers a high quality of service. The company could trade over 1000 instruments in three main jurisdictions on over 30 supported languages. The clients could trade in Meta Trader 4 and Meta Trader 5 platforms and could use over 25 different deposit methods. XM has three types of accounts that are good simultaneously for new or experienced traders and for small and big traders.
Looking for an independent and professional Forex brokers review? Our researches will help you find a broker supporting all financial instruments you may need. It will also help you choose the best trading platform for your manual or automated trading.
Disclaimer: Trading Forex (foreign exchange) or CFDs (contracts for difference) on margin carries a high level of risk and may not be suitable for all investors. Please note that FxBrokersRanking.com do not provide any kind of financial advices or recommendations.
Advertiser Disclosure: FxBrokersRanking.com is free for everyone, but earns a commission from some of the brokers. We get a commission, with no additional cost to you.