- Established in:
- Maximum leverage:
- Minimum deposit:
- Minimum deal size:
- Languages available:
- 18 languages
XM is a forex broker based in Cyprus. It allows clients to trade currencies, futures contracts, precious metals, equity indices, and energy related commodities like oil. Unlike other trading platforms, XM only accepts non-US based clients. Here is a detailed XM review:
XM's platform has lots of useful trading tools and features. To start with, it comes with an XM MT4 Terminal. MT4 or Meta Trader 4 is one of the most popular trading applications in the world. This client is also accessible to traders who use Apple computers like Mac. Secondly, traders can manage more than 100 accounts at once on XM's platform. Thirdly, XM's platform is accessible on iOS and Android mobile devices making it easy to trade on the go. Fourthly, traders can access multiple forex calculators such as one-click currency converter, pip value calculator, and instant margin swap calculator. Fifthly, the economic calendar allows traders to keep abreast of the latest economic news releases and developments. Sixthly, XM's platform allows traders to access a wide range of useful trading signals. Other useful tools and features include forex news coverage, market sentiment analysis, as well as real-time analysis of major financial markets. This includes daily coverage of Asian and European trading sessions. It is worth noting XM supports the opening of Islamic trading accounts. In the trading industry, these are called swap-free accounts because they do not allow rollover interest charges on overnight positions.
Traders who use XM's trading platform can contact customer care representatives or technical personnel via live web chat, email, or phone round the clock. In addition, XM has posted many video tutorials, forex trading course material, and webinar content on its website. The FAQ section covers topics like opening trading accounts, deposits and withdrawals, new XM features, supported features, supporting documents, XM cards, and trading tools.
XM covers more than 20 major and minor languages including English, Polish, Greek, Russian, Bahasa Malay, Hindi, Arabic, Korean, Bulgarian, Bahasa Indonesian, Japanese, Chinese, and Dutch.
XM offers spreads as low as one pip on all major currency pairs. Moreover, there are no hidden fees or commissions. Traders also enjoy fractional pip pricing.
XM offers traders multiple financial incentives. Firstly, every trader gets $30 no deposit bonus after opening an account. Secondly, XM is currently running a two¬-tier bonus offering 50% up to $500 and 20% up to a maximum amount of $5,000. This offer is available to all traders. Thirdly, traders can exchange XM points for cash rewards.
According to XM, 99.35% of all orders are executed in less than one second. It also boasts of 100% real-time execution rate (no rejected offers).
XM is regulated by various bodies including the Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), and Financial Service Providers Register (FSP).
In conclusion, XM is one the best forex, futures, and metals trading platforms. It comes with tools and features like economic calendar, forex calculators, Meta Trader 4, and support for Islamic accounts. The platform is extremely fast with 99.35% of all trades executed in less than one second. It also covers more than 20 languages, which is rare in the trading industry.