XM is a prominent player in the foreign exchange market, known for enabling real-time investments in a wide variety of assets, such as currencies, stock indices, CFDs, and commodities. However, to fully understand what XM offers, it’s essential to consider the reputation and regulation of this broker.
Contenidos del post:
What Are the Regulations of Broker XM?
XM stands out for its focus on regulation and security. This broker operates under various regulatory entities, providing a secure environment for investments:
- XM UK: Authorized and regulated by the Financial Conduct Authority (FCA) of the United Kingdom with reference number 705428.
- XM Australia: Licensed by the Australian Securities and Investments Commission (ASIC) with reference number 443670.
- XM Global: Regulated by the International Financial Services Commission of Belize (IFSC) with license number 60/354/TS/17.
- XM Cyprus: Regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 120/10.
These regulations ensure that XM complies with strict standards and offers a safe environment for financial investment.
What Are the Account Types at XM?
This broker offers various account types to cater to different experience levels, including Micro Account, Standard Account, Ultra Low Account, and Shares Account. The features of these accounts are as follows:
1. Micro Account
- The base currencies for this account are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR.
- The minimum deposit is $5 USD.
- Maximum leverage of 1:1000.
- The lot size is 1000 units for this account.
- Spreads on all major pairs starting from 1 pip.
- No commission.
- A maximum of 300 open/pending orders per client.
- The minimum trade volume is 0.1 lots.
- The maximum lots per position are 100 lots.
- A maximum of 300 open orders.
- Islamic Account is optional.
2. Standard Account
- The base currencies for this account are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR.
- The minimum deposit is $5 USD.
- Maximum leverage of 1:1000.
- The lot size is 100,000 units for this account.
- Spreads on all major pairs starting from 1 pip.
- No commission.
- A maximum of 300 open/pending orders per client.
- The minimum trade volume is 0.1 lots.
- The maximum lots per position are 50 lots.
- A maximum of 300 open orders.
- Islamic Account is optional.
3. XM Ultra Low
- The base currencies for this account are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, SGD, ZAR.
- The minimum deposit is $5 USD.
- Maximum leverage of 1:1000.
- The lot size is 100,000 units for Ultra Low Standard Account, and for Micro Ultra Account, the lot size is 1000 units for Ultra Standard.
- Spreads on all major pairs starting from 0.6 pips.
- No commission.
- A maximum of 300 open/pending orders per client.
- The minimum trade volume is 0.01 lots for Ultra Low Standard Account, and for Micro Ultra Account, the minimum trade volume is 0.1 lots.
- The maximum lots per position are 50 lots for Ultra Low Standard Account, and for Micro Ultra Account, it’s 100 lots.
- A maximum of 300 open orders.
- Islamic Account is optional.
4. Shares Account (Exclusive for Stock Trading)
- The base currency for this account is USD.
- The minimum deposit is $10,000 USD.
- The contract size is one share.
- Spread is calculated based on the underlying value.
- It has a commission.
- A maximum of 300 open/pending orders per client.
- The minimum trade volume is 1 lot.
- The maximum lots per position depend on each stock.
- A maximum of 50 open orders.
- Islamic Account is optional.
Since 2019, this broker offers the Ultra Low Account.
Since 2019, Broker XM offers the Ultra Low Account, which is the best account type to use for trading in the Forex and CFD markets, as it offers competitive spreads and no commissions.
Account with 0.6 Pip Spreads and No Commissions at XM
Traders always seek brokers that meet their investment needs, and one of the key factors is having tight spreads on the assets they want to trade. Tighter spreads benefit investors by saving money and increasing profits on successful trades. Additionally, this new account offers over 1,000 trading instruments, providing a wide variety of assets for investment.
Is Broker XM a Scam?
This UK-based broker has been providing investment services to retail and professional clients for many years. When it comes to scams, that word doesn’t fit with this broker, as XM is very safe and regulated by various competent authorities, with the most notable being the “Financial Conduct Authority of the United Kingdom” (FCA).
Broker XM is accessible to any trader, whether they are professional or retail clients, as mentioned earlier. This is because two of its accounts require a minimum deposit of just $5 USD/EUR/GBP or the equivalent in other accepted base currencies. Personally, I highly recommend this broker if you want to trade in the Forex market.
How to Register with XM?
The registration process is simple:
- Access the main XM website from this link.
- Click on “OPEN REAL ACCOUNT” and complete the registration form.
- Verify your account by providing a copy of your identification document and proof of residence.
- Make a deposit using one of the available payment options, including credit cards, bank transfers, and other methods.
XM Is More Than a Forex Broker
XM is more than just a forex broker. It offers its clients the widely recognized MetaTrader 4 platform, ensuring fast order execution without re-quotes. The platform has a growing user base, with over a million clients currently, supporting its reputation as a quality choice for traders.
Another advantage of XM is its demo account, which allows new traders to practice with virtual money and access over 120 financial instruments, including currencies, stock indices, stocks, and commodities. This demo account provides an initial capital of $100,000, offering an excellent opportunity to become familiar with financial trading. It is recommended to use the demo account for at least two months before transitioning to a real account.
This broker prides itself on its forex execution-focused business model. Ninety-nine percent of trading orders are executed in less than one second, and, as mentioned earlier, without re-quotes or rejections. Furthermore, trading funds are secured up to 20,000 euros by the Investor Compensation Fund, and all clients benefit from Negative Balance Protection, ensuring that losses do not exceed the account balance.
Commitment and Recognition
The management of XM has been present in over 120 cities worldwide, interacting with clients and partners. This broker has received recognition from the British organization “Investors People” for its efforts in client development through courses and seminars in different countries. This demonstrates XM’s commitment to educating individuals to make informed trading decisions.
Why Choose This Broker for Forex Trading?
XM is a solid and reputable company that promotes the financial and personal development of its clients. Its platform caters to a wide range of investors and ensures satisfaction in both the training it offers and the results obtained from trading.
XM traders have access to cutting-edge technologies and the latest industry trends, allowing them to stay informed and up to date with the forex market. With its headquarters in Cyprus and strategic offices in Hungary and Greece, this broker has a team of over 180 financial professionals and customer support available in more than thirty languages, 24 hours a day, 5 days a week.
How to Withdraw Money from XM?
The fund withdrawal process is straightforward:
- Access the User Area on the XM platform.
- Click on “Withdraw” and choose one of the available options, including credit cards, bank transfers, and other methods.
- Request the withdrawal and follow the provided instructions.
This broker stands out for its commitment to trader education and the security of client funds, making it an attractive choice for those seeking a reliable trading experience in forex. Register with XM and start your journey in the exciting world of trading!
Does XM Offer Cryptocurrencies for Trading?
Yes, since 2017, XM has offered the opportunity to trade multiple cryptocurrency pairs. This was a significant development at the time, as very few brokers allowed cryptocurrency trading in 2017. However, nowadays, it’s common for brokers to offer cryptocurrency trading.
How to Trade the BTC/USD Pair?
To trade the BTC/USD pair with XM, simply create a real account, download the XM MT5 platform, and then click on BTC/USD in the Market Watch window to open or close a trade with this financial instrument. The value of each standard lot you trade will be one Bitcoin, with a minimum price fluctuation of $0.001 USD, and the stop-loss limit for orders is $0.1.
Trading with this currency allows traders to make investments without the intervention of any central authority or central bank. Many traders find it attractive to trade Bitcoin due to the versatility it offers. However, it’s important to remember that all trading involves a risk of capital loss, and all trading decisions are at your discretion, so be cautious at all times.
XM Is an Affordable Broker for Any Budget
This broker stands out for being accessible to traders with any budget, allowing clients to make minimum deposits starting from 5 units of the accepted base currencies, including US dollars, euros, and British pounds, among others.
XM Is the Number One Broker in the United Kingdom
To instill greater confidence in this broker, let me tell you that it is the number one broker in the United Kingdom due to the high quality of its investment services in the market. It has received several awards over the years that certify and support this quality. Although it is a well-recognized broker in the United Kingdom, it is also popular in other countries and has a broad clientele in American countries.
XM Was Awarded as the Best Forex Broker for Execution
Are you surprised that XM was awarded as the best Forex broker for execution? Well, I can tell you that I was not surprised at all because this company offers a top-notch service, which is why it received such an award. Starting this year, the broker began allowing trading on Bitcoin, which led to a disproportionate increase in positive reviews. Of course, this influenced the fact that they received this award, which is synonymous with quality and reliability.
When Was This Award Given and by Which Entity?
This recognition was awarded on September 27, 2017, at the UK Forex Awards 2017 event by Share Magazine. The award is considered a valuable global accolade, considering that Share Magazine is a UK financial information company. This company covers nearly all investment areas worldwide, providing first-hand information about markets in many countries, the stock exchange, and other finance-related information.
XM Has a Promising Future
With recent developments and the quality of trading services offered by XM, this is a broker that is poised for a bright future. It is worth highlighting that thanks to the effort made day by day, this brand will continue to attract clients over time and become one of the brokers with the most traders worldwide.
Trading on a platform like this is very safe, although the risk of capital loss in investments is always present. In terms of security and transparency, XM is a good choice and an excellent broker for forex trading.
Leave a Reply