XM broker review 2018 by Thediaryofatrader.com

XM Broker Review

XM is one of the most popular brokerages globally, as traders from around the world have used it extensively. The broker offers a wealth of global assets, including Forex, CFD stocks, CFD commodities, CFD indices, CFD metals, and CFD energies. With this, you have the ability to trade multiple markets from one platform, using familiar trading conditions.

XM Trading accounts

XM offers three separate accounts for clients to choose from, this includes: Micro, Standard, and Zero. You can choose commission free trading in both Micro and Standard accounts, or tighter spreads that involve commission fees and higher initial deposit in the Zero account. XM offers extraordinarily high leverage, depending on the market traded, which of course can vary. There are over 700 trading instruments available. Because of this, you can trade the entire world from your platform.

The company

XM is one of the most well-known brokers in the Forex world and is a member of Trading Point Group. It has over 1.5 million clients from 196 countries. They have executed over 1.4 billion trades during their tenure. In business since 2009, the market has continually progressed and expanded as traders learned about it. The company has received several awards for its efforts, not only as a Forex broker, but also for its achievements involving its clients and employees. XM is heavily regulated as any respectable brokerage firm is. They are currently regulated by the FCA in the United Kingdom, CySec in the European Union, and ASIC in Australia. They are also registered in several different countries beyond that. Because of this, there is plenty of regulation backing them up.

The state quite openly who they do business with, doing a large portion of their investment grade banking with Barclays Bank PLC, and many other companies who are regulated by some of the largest names in the financial world, such as the German and Dutch central banks. Beyond that, they also provide retail clients with additional protection through the Investor Compensation Fund, giving them recourse in the case of XM going insolvent.

Trading conditions

Initial deposit

The initial deposit needed to open an account with XM is just five dollars. This is extraordinarily low, as many brokerages around the world will require at least $100 as the absolute minimum. Obviously, nobody is going to get rich trading with that small amount of money, but it does give you the ability to open up a Micro account and get a feel for how the platform reacts.

Spreads and commissions

XM offers variable spreads, with the commission free accounts averaging 1.7 pips on some of the most liquid major pairs. The Zero account has better trading conditions but charges a commission of $3.50 per standard lot traded, per side. So if you think that you’re going to be trading large amounts of transactions, perhaps the Zero account would be what you’re looking for. You can open up a Zero account with as little as $100.

Leverage

if you’re looking for leverage, XM offers plenty. The leverage can be anywhere from 1:1 to 1:888. This allows the small trader to handle larger amounts of money, but also increases the risk in trading, so by all means be careful. This is completely customizable, so XM is willing to facilitate whatever needs you have.

Trading platforms

XM offers MetaTrader 4 and MetaTrader 5 as their main platforms. The platforms allow expert advisors, sometimes referred to as “trading robots”, to be added to your trading arsenal, giving you an opportunity to take advantage of algorithmic trading. Most of you should be familiar with these platforms, but if you are not, you will find that they are preferred by most traders around the world with good reason. These are available in a total of 16 different variations, allowing Apple and Windows users alike to take advantage, as well as iPhone and Android users.

Extras

XM offers video tutorials, economic calendars, signals, technical analysis, stock market news, webinars, and special reports. As far as extras are concerned, if you are looking for those XM has them in spades. This is a great brokerage for that reason alone. The large amount of clients also suggests that they have had plenty of happy customers over the years.

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