XM, which is a trade name of Trading Point of Financial Instruments Limited, is a full dealing desk broker that offers floating spreads. It has its headoffices in Limassol, Cyprus and it was founded in 2009. In addition to the main offices in Cyprus, it also has offices in Austria, Greece and Hungary.
XM forex broker is registered and regulated by a number of institutions in each and every country where it operates. It is registered with the Financial Conduct Authority (UK) and also regulated by ASIC (Austria). It is a registered Forex broker in Malaysia having obtained a license from the Securities Commission Malaysia and it offers an Islamic account that sticks to all the halal Muslim needs to cater for the large Islamic population in Malaysia.
Trading Platforms Offered By XM.COM
XM has eight trading platforms which include: MT4 Terminal, iPhone Trader, MT4 for Mac, Web Trader, Mobile Trader, iPad Trader, Droid Trader and XM MAM Trader.
The iPhone Trader platform allows traders to trade using their iPhones, the MT4 for Mac platform allows traders to trade using their MacBook computers, the Web Trader platform is for trading on the website (traders don’t have to download it), the iPad platform is for trading using an iPad, the Droid Trader is for use on an Android device and the XM MAM Trader is for traders who need to manage their multiple accounts.
One of the most outstanding feature of all the XM platforms is that they allow the use of Expert Advisors (EAs) and indicators.
XM.COM Account Types
XM customers have the opportunity of enjoying two main types of accounts; namely: the real account and the demo account. The real account is for live trading while the demo account is for practicing how to trade as well as for testing trading strategies before using them in the live trading.
The demo account is free and requires no pre-deposits. Any prospective XM Forex trader can open the demo account and try trading on it before opening a real trading account.
There are 3 types of real trading accounts that an XM retail forex trader can choose from. These types of real accounts are: the micro trading account (1 lot = 1000 units), the standard trading account (1 lot = 10, 000 units and the ZERO trading account (1 unit = 100,000 units).
XM customers have a variety of ways of depositing and withdrawing cash to and from their XM account respectively. They can choose to use either MoneyGram, credit card, Moneybrookers Skrill, SOFORT, bank wire, Western Union, Neteller, WebMoney, China UnionPay or iDEA.
The process poof depositing and withdrawing money is normally open for 24 hours a day and it is fully automated. XM also covers for all the fund transfer fees and does not include any hidden fees or commission for funds deposits.
XM is well known for its Bonus Programs asas well as its regular promotions. It offers clients with a 50% Deposit Bonus for deposits of up to $500 and 20% deposit bonus for deposits of up to $5,000. All bonuses credited to the trader’s account within 24 hours.
The other lucrative XM bonus is the $30 No Deposit Bonus. However, for the trader to get this bonus, he or she needs to register and affirm his or her telephone number by means of an SMS.
After getting the $30 no deposit bonus, the trader can not withdraw the initial $30 bonus other than the profit made on top of the $30 cash bonus.
But for the trader to be able to withdraw the profits, from XM he or she have to have traded a minimum of 0.5 Lots; which is fairly simple. This is not limitted to a certain duratin; the trader is at will to trade as he or she wishes until the 0.5 Lots are attained.
When it comes to withdrawing, traders can only withdraw money that is more than $60 when they take the $30 no deposit bonus.
In spite of the fact that it isn’t usually the custom of most traders to go through the terms and conditions for the bonuses, it’s generally a very important thing to do. The terms and conditions for both bonuses depicted here are only five page records that are not hard to go through.
Other XM.COM Features
With tight spreads on more than 60 currency pairs and the same spreads offered for all exchanging account sorts, XM likewise gives partial pip estimations so customers can trade with smaller spreads and advantage from the most precise quoting conceivable. Also, the 888:1 leverage offered by XM is one of a kind in the business.
XM customers are also ensured of negative balance protection and unaltered margins overnight and at weekends. The time taken to process funds when depositing and withdrawing is fast and in accordance with standard banking practices. Amateur traders as well as experienced traders similarly advantage from the same conditions which include: full access to the real time financial markets, 100% execution, no dismissal of requests, no re-quotes, with all transfer commissions secured by XEMarkets, support from Personal Account Managers 24/5.
Some of the most interesting features of XM include:
- Tight Spreads starting from 1 Pip.
- It offers a Flexible Leverage of up to a maximum of 888:1.
- It offers a 24 Hour Support to its customers.
- It does not allow Re-quotes.
- XM also assigns its traders with Personal Account Managers that advise them on important issues.
- XM also offers a $30 + Deposit Bonus up to $5,000.
- XM allows scalping.
XM offers Multilingual Personal Account Managers who are available to customers by means of live chats, by phone or email 24 hours during the 5 business days. Support team that is customer friendly helps both demo and experienced financial investors benefit as much as possible from trading by guaranteeing perfect communication at all times.
Also, the one of a kind XM MT4 recordings and free live online classes help traders tap into their specific points of interest of forex trading, with further online tutorial exercises in a few dialects coming soon.
XM is a seasoned Forex broker with remarkable client communication. From the principal snippet of joining with XM, all through the trading experience, customers can enjoy the advantages of trading with a main forex broker like XM. XM is fit for beginners as well as experienced Forex traders.