Wishing to form its site and its services available to as many of us as possible, XM has made great efforts to realize this objective. for instance , his site is translated into about thirty languages. Customer support is accessible, taking care of consumers in difficulty on the platform is professional.
The broker offers nearly 60 currency pairs for trading, also as 1,000 CFDs on stocks, commodities, ETFs and cryptocurrencies. you’ll probably haven’t any trouble finding the assets that interest you. Metatrader 4 and Metatrader 5 are the quality platforms for XM.
If you’re trying to find a broker regulated by several regulators and offering Metatrader, XM may be a perfect fit you.
XM’s offer of account types is extremely rich and allows customers to possess some flexibility. The broker offers several sorts of accounts.
It’s simple to open a trading account with XM and it’s pretty quick. After creating your account, you would like to travel through the KYC to verify your identity. For this, you’ll submit through the platform a photograph of your national card , your passport or your driver’s license . this may allow the broker to verify your identity. For proof of address, a utility bill, a statement together with your address or a certificate of residence are going to be required.
XM offers 4 sorts of accounts: Micro, Standard, XM Ultra Low and Shares. The fees and trading conditions differ from account to account. But all accounts give access to the Metatrader 4 platform, and thus offer the likelihood of automating your strategies.
XM gives you the choice of selecting your base currency. counting on the accounts, you’ll choose between the subsequent currencies: EUR, USD, AUD, PNL, HUF, ZAR, SGD, and NZD.
With the Micro account, XM offers negative balance protection. The minimum deposit is about at € 5 for an account within the same base currency. The minimum volume to open an edge on Metatrader 4 is 0.01 lot. However, this volume rises to 0.1 lot for Metatrader 5. the utmost volume per position is about at 100 lots and therefore the trader won’t be ready to open quite 200 orders (market and deferred). One prize on the Micro account is like $ 1,000.
Traders residing outside of Europe can enjoy a primary deposit bonus with the Micro account.
The Standard account has virtually an equivalent features because the Micro account, except that 1 lot is like $ 100,000 and therefore the maximum position size is restricted to 50 lots.
The XM Ultra Low account
Standard and Micro accounts are often XM Ultra Low at an equivalent time. This account doesn’t offer negative balance protection. The broker doesn’t charge a commission there, all costs are included within the spread. The XM Ultra Low Account doesn’t offer a primary deposit bonus.
The minimum deposit to activate this account is € 50. It allows you to put up to 200 orders at an equivalent time on Metatrader.
This type of account is special because the minimum deposit is $ 10,000. it’s actually an Islamic account which doesn’t offer any bonus. Hedging (being a seller and a buyer at an equivalent time on an asset) isn’t possible. The minimum tradable volume is about at 1 lot. you’ll place up to 50 orders on Metatrader.
The Islamic Account
This is not a separate sort of account, but each of the aforementioned accounts are often an Islamic account at an equivalent time, at the customer’s request. Islamic accounts don’t have a swap fee for positions held for quite one session. additionally , there’s no leverage on account.
To benefit from it, you want to open an account by following the traditional procedure. then contact XM support in order that they can make the change. it’s important to notice that XM reserves the proper to not assign the Islamic account to you.
The broker stands out with its Islamic account offering, because it doesn’t impose higher spreads to offset swap fees, a practice of most other brokers. The spreads therefore remain an equivalent , despite the very fact that this account doesn’t charge the swap fees.
Deposits and withdrawals
XM has made the trouble to diversify the deposit methods offered to its customers. Available: deposit by card, wire transfer, Skrill, Neteller, MuchBetter Wallet and Trustly.
XM offers you many options to fund your trading account. The broker isn’t just limited to traditional deposit methods.
There is no deposit fee at XM. Withdrawals also are free, unless the quantity to deposit or withdraw is a smaller amount than € 200. The broker covers the transaction costs of your account. Which is quite exceptional.
Commissions and spreads
The fees for trading on XM are quite competitive. The broker doesn’t charge any commissions apart from the Shares account.
Trading fees vary counting on the sort of account you’ve got chosen. For Micro and Standard accounts, the spread are often as low as 1 pip on the foremost traded assets like EUR / USD. it’d sound pretty high, but there’s no commission for this sort of account.
The spread is variable and tends to widen in times of high volatility. it’s more advantageous during active listing periods. one among the benefits of trading with XM is that its platform doesn’t restrict trading during important economic announcements. you’ll therefore enter or exit your positions at any time.
For the XM Ultra Low account the spread is tighter because it are often as low as 0.6 pip and there are not any commissions.
XM charges a commission on the Shares account. this relies on the asset you’re trading.
For more details on XM fees and commissions, we invite you to go to the comparison of XM accounts .
Leverage up to 1: 888
XM offers one among the foremost important leverage ratios within the industry. Traders are going to be ready to enjoy leverage of up to 1: 888 on major currency pairs. Leverage can boost your gains, but also your losses. it’s therefore a tool to be used with caution and moderation.
For retail traders residing in Europe, the leverage are going to be limited to 1:30, in accordance with the principles established by ESMA in 2018 on this subject.
A broker who focuses on Metatrader offers. The versions of Metatrader offered by XM are in no time in terms of execution.
XM limits its offers to Metatrader 4 and Metatrader 5. These platforms are available on PC, in webtrader version and on mobile. By these different versions, the broker diversifies well the methods by which you’ll access your XM trading accounts.
The execution of orders on Metatrader is usually considered slow. But XM has made efforts to enhance its own version of MT4. The broker claims on its site that 100% of orders placed by Metatrader were executed on time without rejection. additionally , 99.35% of them are executed in but a second on the platform.
This platform gives you tons of features. you’ll access the 1000 instruments of XM through MT4. it’s a comprehensive technical analysis and trading platform. With its integrated chart and technical indicators, also as its drawing tools, you’ve got everything you would like to research any asset listed on XM.
Another advantage of this platform is that the use of EAs or trading robots. MT4 allows you to simply automate your trading strategies, because of its easy-to-understand programing language . The MetaQuotes library (developer of MT4) is additionally filled with free and paid trading robots.
With your single Metatrader password, you’ll access the various MT4 platforms (mobile, webtrader and PC).
MT5 is more geared towards trading CFDs. XM offers over 1,000 on this platform. The trading conditions are an equivalent , if not better, compared to MT4. But you’ll always find an equivalent graphical analysis features, with more tools. MT5 is additionally compatible with trading robots. like MT4, MT5 is out there on mobile, web version and PC.
MT4 Multiterminal may be a version of Metatrader that permits you to manage multiple accounts at an equivalent time. for instance , if you’ve got opened 3 trading accounts on XM, you’ll be ready to hook up with the three platforms simultaneously on MT4 Multiterminal and manage your positions.
Financial markets and products
XM offers quite 1,000 negotiable instruments across 6 asset classes: currency pairs, commodities, indices, stocks and cryptocurrencies.
There are 58 currency pairs. Among these you’ll find Major, Minor and Exotic pairs.
A wide choice of CFDs on stocks listed on the foremost coveted stock markets: EURONEXT, NYSE, Borsa Italiana, etc. you’ll also trade the indices; 30 indices are listed on the platform within the sort of CFDs.