XM broker has more than “1 million” clients, and they are serving more than 195 countries around the globe (they have their services in every country of the world). Read the complete XM Review now.
Regulated by CySEC, IFSC, FCA, ASIC, DFSA
XM which is specifically known for being a parent company of Trading Point Holding was fabricated back in 2009 and since then it's been operating globally as a Forex and CFD brokerage company.
And as for XM global, it was founded later than expected making its way in between late 2017 which is regulated by IFSC (International Financial Services Commission) under the license number of (000261/106).
Later on, the brokerage also got regulated with 3 other regulatory bodies (ASIC and CySEC) making it one of the most secure brokerages operating at the current time.
Moving on, XM global contains more than 1.5 million traders across 196 countries. Besides being fair is the main ethic of XM and that's the primary reason, the broker gets praised by numerous retail market traders
Bank Wire, VISA, MasterCard, Neteller, Skrill
Bank Wire, VISA, MasterCard, Neteller, Skrill
XM offers 5 types of trading accounts to the retail market traders which go as follows: Micro, Standard, XM zero, XM ultra-low finally it's the XM share accounts. Let's get a brief overview on this:
First of all, the Micro accounts are more of a GO-TO platform for the new traders as it requires a deposit amount of only $5. Don't let that amount distract you from anything because you'll be able to trade on all the base currencies including AUD, USD, GBP, CHF, JPY, EUR, PLN, and HUF.
Note: Just so you know, 1 micro lot = 1,000 units of the base currency.
In the same way, Standard accounts also offer all the base currencies similar to micro accounts and the deposit amount is also $5. The only difference is in the standard accounts, 1 standard lot = 100,000 units of the base currency.
Moving on, the Zero accounts require a minimum deposit amount of $10 and the base currencies are USD, EUR, and JPY. The standard lot of zero accounts are also similar to standard accounts.
And in the Ultra-low accounts, the minimum required amount is $50 where USD, EUR, AUD, GBP, SGD, ZAR are the base currencies. The standard lot is also similar to standard accounts.
Note: XM ultra-low accounts are only available to certain trading groups.
That's not even all!
XM also offers share trading accounts along with swap-free trading accounts. The share accounts require a minimum deposit amount of $10,000 and the standard lot is similar to micro-accounts. But the share accounts only allow you to trade on USD as a base currency.
As per the trading leverage, well it can vary from 2:1 to 30:1 pretty quickly which obviously depends on the trading instrument and the average spread is 0.1 pips on EUR/USD. Apart from this, XM offers a market execution process rather than instant execution
XM renders an ultra-wide range of trading instruments to its users as they are committed that way to providing all the possible trading assets to the retail market traders. And in order to execute that initiative properly, they are giving access to:
Forex: More than 57 currency pairs including the exotic ones.
Metals: Availability of precious metals including gold and silver.
Energies: You'll be able to trade on energies like Brent crude oil, GSOIL, NGAS, OILMn.
Commodities: You'll be eligible to trade on 15 commodity stocks.
Stocks: You'll be able to experience up to 28 major company shares along with 1240 stock CFDs.
Indices: You'll be able to trade on a wide range of indexes including the HUGELY popular ones.
Note: Due to diverse legal statics FBS doesn't allow any traders to trade on cryptocurrencies especially BTC.
XM is one of the most regulated broker industries that has ever come across retail market traders. Out of all people, we all know that having a tight regulation defines a broker even BETTER as it showcases a symbol of trust between the brokerage and traders.
Moving on, XM is regulated with three regulatory bodies including:
Therefore, if you're intending to trade with XM then go ahead and do so without worrying about any sorts of security issues.
Trust us, It'll be worth it
Being the regulated and ultra-low spread broker as it is, XM provides 2 types of trading platforms for retail market traders.
The trading platforms category includes,
Now, let's break it down a bit...
The MT4 trading platform provided by XM is often considered a classic trading platform that is not only persuasive but also is packed with useful features. Specifically, the features are:
Source: Forexbrokers.com
On the other hand, MT5 is more like a tech-based and evolved trading platform that renders multiple trading assets at a time which obviously includes stocks, indices, and precious metals.
You'll also be getting features like multiple trading indicators, depth market views, diverse trading charts, and multiple time frames
When it comes to trading platforms, XM only prefers the MetaTrader platforms over all the trading platforms.
And by MetaTrader platforms we mean the MT4 and MT5 trading platforms. Which is for a fact also available for mobile devices including both android and ios versions.
It gets EVEN better!
The installation process is also quite easy and hassle-free compared to all the other mobile trading platforms provided by all the other brokers.
Just go to the play store or App store and search for it. After that, the next process is completely automatic.
See, it isn't that hard, is it?
Apart from all this, XM offers several features on its mobile trading platform. Which includes:
Source: Forexbrokers
Like all the regulated brokers who don't hesitate to provide any sorts of trading bonuses, XM also renders wholesome trading bonuses.
The bonuses kinda look like this:
Source: XM.com
$30 No deposit bonus: No deposit bonus is a one-time thing that a brokerage provides to its clients while registering an account with them. As for XM, they proffer a welcome bonus of $30 if you open an account with them.
Along with that, XM also offers a loyalty bonus along with a referral trading bonus which is also applicable to all retail market traders.
But keep in mind that standard conditions may involve while applying for the trading bonuses
XM is relevant with diverse transaction methods including Debit-Credit cards, Wire transfer, Local bank transfer and electronic payment methods.Besides, you can use all these transaction methods stated above for both making a deposit or a withdrawal from XM broker.
Moving on, XM requires a minimum deposit amount of $5 for micro and standard accounts and $100 for the zero spread accounts.
And while withdrawing your money from XM, the process can sometimes get real cranky as it takes more than 2 days to process. Besides that, a certain fee is also needed while undergoing a withdrawal process. Specifically, for bank wire transactions $15 is required
Hands down, reliable customer support is probably a must-have feature for a brokerage company in order to stay at the top of the race. As a result, XM also fabricated a 24/7 superactive customer support protocol.
Which can be accessed via a live chat system along with phone and email communication. And that's not all, their customer support comes with multi-language support also.
Here's the contact info, in case you might need to contact them:
Forex education materials are a great way to find your way through this unstable and volatile trading industry.
As it can help you to stay up to date with a lot of things. Respecting the significance of educational materials, XM is committed to providing an effective and diverse learning center.
Where you'll find out numerous webinars, blog posts, analysis, trading tips, guide books, video tutorials, and whatnot! It is well organized and also made in using a user-friendly perspective.
So, the beginners could get a hold of everything that's been going on!
That's not all, for exclusive research purposes, you'll be given access to Forex calculators along with economic calendars
Let's start a combing camparison between Two brokers' widely used tools, mobile apps, platforms, spreads, and more.
Leverage is the multiplication of your balance. This allows you to open bigger trading positions since the margin required will be lowered according to the leverage you have chosen. Even though with leverage you can make a bigger profit, there is also a risk of having a bigger loss because the positions you open will be of higher volume (lot size).
Example:
Account balance: 100 USD
Account leverage: 1:100
For your trading capital this means 100 * 100 USD = 10,000 USD to trade (instead of 100 USD).
The swap formula for all forex instruments, including gold and silver, is the following:
lots * long or short positions * point size
Here is an example for EUR/USD:
Client base currency is USD
1 lot buy EUR/USD
Long = -3.68
Because it is a buy position, the system will take the swap rate for a long position, which currently is -3.68
Point size = contract size of a symbol * minimum price fluctuation
EUR/USD point size = 100 000 * 0.00001 = 1
If we apply for the given numbers in the formula, it will be 1 * (-3.68) * 1 = -3.68 USD.
So for 1 lot buy EUR/USD, if the position is left overnight, the swap calculation for the client will be -3.68 USD.
Here is an example for gold:
Client base currency is USD
1 lot buy gold
Long = -2.17
Because it is a buy position, the system will take the long points, which currently is -2.17.
Point size = contract size of a symbol * minimum price fluctuation
Gold point size = 100 * 0.01 = 1
If we apply the given numbers in the formula, it will be 1 * (-2.17) * 1 = -2.17 USD.
So for 1 lot buy gold, if the position is left overnight, the swap calculation for the client will be -2.17 USD.
Please note that if the base currency of the trading account is in EUR (like in the examples above), the swap calculation will be converted from USD to EUR. The result of the swap calculation is always the secondary currency in a symbol, and the system converts it to the base currency of the trading account.
The examples above only serve as a guide and do not reflect the current charges. Please view the current swap charges for forex instruments here and for gold and silver here.
It is $5 for MICRO and STANDARD accounts, $50 for ULTRA LOW accounts, while for SHARES accounts it is $10,000
In case you fill out all details correctly, it takes less than 5 minutes.
Margin is the required amount in the base currency of the trading account needed to open or maintain a position. When trading forex, the Required/Used Margin for a specific position = Number of Lots * Contract size / Leverage. Here the result is originally calculated in the first currency of the traded pair and then converted into the base currency of your trading account, which will be numerically displayed on your MT4, or any other trading platform.
The margin requirement for gold land silver is calculated like this: Lots * Contract Size * Market Price / Leverage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD).
For CFDs, the required margin is Lots * Contract Size * Opening Price * Margin Percentage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD). More details can be seen here.
Margin level is calculated with the formula Equity/Margin * 100%.
Free margin is your equity minus margin. It means the available funds that you use for opening new positions, or for maintaining existing positions.
It is simple and quick. Click Open a Real Account, fill in the form and upon completion, you will receive an email with your login details that you can use to log in to our secure Members Area. Here you will be able to fund your trading account by clicking the Deposits tab in the main menu. If you are already an XM Real Account holder you can open an additional account in the Members Area.
The margin calculation formula for forex instruments is the following:
(Lots * contract size / leverage) where the result is always in the primary currency of the symbol.
For STANDARD accounts all forex instruments have a contract size of 100 000 units. For MICRO accounts all forex instruments have a contract size of 1 000 units.
For instance, if the base currency for your trading account is USD, your leverage is 1:500 and you are trading 1 lot EURUSD, the margin will be calculated like this:
(1 * 100 000/500) = 200 Euros
Euro is the primary currency of the symbol EURUSD, and because your account is USD, the system automatically converts the 200 EUROS to USD at the actual rate.
If you have already opened a trading account, received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice.
You can find detailed guidance on XM trading platforms here.
Over the two years of trading with LiteFinance, I've found their support team and dealing department to be respectful and responsive to all my questions. Withdrawal requests are processed swiftly as well!
Trading with Litefinance since 2014 has been a satisfying experience. Their fast automatic fund withdrawal, convenient web terminal and mobile app, low spreads on ECN accounts, and good trade performance have impressed me. Even during problematic situations, Litefinance has quickly resolved issues in my favor. I highly recommend trading with this broker.
A great and safe broker with transparent live chat for sharing trading ideas. Keep it up, Litefinance!
Litefinance's daily transaction receipts help me track my account effectively. I recommend them.
I'm a recent user, and though I can't comment on profits yet, their customer service has been impressive.
I recently joined FPMarkets, and I can already say that I highly recommend it. The withdrawal process took less than 2 days, and I'm very pleased with FP Markets.
Fast withdrawal and excellent service! The Customer Support team is not responsive.
I've explored FP MARKETS, and I must say it's pretty cool with high-quality tools and features. With a rating of about 4.7 points and being a regulated company, I consider it trustworthy. Keep up the good work, FP MARKETS!
The interface is excellent, and I've always found their customer support to be responsive. Deposits and withdrawals are fast and smooth. I've been using Exness for a year now and couldn't be happier with their service.
I have had a great experience with this broker, and their market analysis tools are easy to use. Thanks, AssetsFX!
I really wish they offered a cent account on the mt5 platform; it would make them the best broker out there. That's why just putting a star off the rating.
This broker is incredibly user-friendly, and their withdrawal process is straightforward and hassle-free.
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My experience with AssetsFX has been positive. For EAs, scalpers, and auto-trading, provide outstanding virtual private server (VPS) solutions. This is a terrific chance for the trader. I have a special place in my heart for this broker. For a long time, I want to trade with them.
AssetsFX is a simple-to-use broker, to put it simply. AssetsFX is a fantastic place to start if you are new to this industry because they feature upper-edge customer service, a live chat option that promptly resolves your issue, blogs, and instructional seasons. Additionally, new users can benefit from their Demo account setup too. In short, it's an amazing broker.
The main obstacles to trade are middlemen and an absence of dealer control. The broker without a tracking desk to oversee traders is AssetsFX. Traders are able to use their own trading methods. My interest in collaborating with them is mostly motivated by this. Thanks for the best service.
I'm a U.S user, and while exploring brokers heard about AssetsFX. But unfortunately, like so many brokers, AssetsFX doesn’t accept US clients. For me, It's the most disappointing thing. Why you don't accept the U.S client.
I chose AssetsFX because it offers to trade on consistently low spreads from 0.0 pips, and it's authentic. Along with that, they don't prefer any kinds of hidden fees.
Multi traders like me who want to keep an eye on all trading platforms can choose AssetsFX because you can easily control Forex, Crypto, Indices & Commodities from here. Thanks! Team for the best service.
The main thing that attracts me to trade with AssetsFX is the multilingual customer support. I think it is essential for a broker because all clients are not comfortable with a fixed language, and it is beneficial to find out the problems and solve them quickly.
The extensive Liquidity supported by 20 central banks and hedge funds is covered by AssetsFX. The trade is made simple for me by this feature. But the mobile trading app ought to be bilingual.
Recently I learned about Assetsfx. This broker offers so many facilities to their clients. They provide a 20% Deposit bonus. I like their approach.
Assetsfx provides a wide range of trading options. There is also excellent customer service and an Instant Cash Back option.
I've traded with various well-known brokers, and I can tell that Assetsfx is a trustworthy broker, especially their Web Trading system. You should DEFINITELY check that out!
I heard that AssetsFX pays a $1 reward for each lot traded when you register a new live account with a minimum deposit of $500, which is real. Thanks, team for providing the best service!
AssetsFX accepts a wide range of trading techniques and assures that you can trade as you choose. In my opinion, trading should be done according to one's preferences. It comes highly recommended from me.
PerfectMoney, Bitcoin, Ether/Ethereum, Ripple, Tether (USDT), and Other Crypto Currencies, as well as Local Transfer alternatives, are all available for deposit and withdrawal at AssetsFX. This is huge for a trader, in my opinion.
AssetsFX does not offer the MetaTrader 5 trading platform. I'd want it to be here, though. I think adding this broker will bring extra facilities.
Many brokers have limitations, but AssetsFX has none. You can make as many payments per month or per client as you want. For me, it is the most visible aspect of this broker.
I have been trading on this platform for just a few months. I'm very pleased with their online service and quick customer feedback.
I've been using this platform for a long. And in this time, I have seen remarkable changes in their system. FBS uplifted its platform to another level. Looking forward to their further progress.
It's an average broker.
I've only collected positive ideas during my nearly two years on Tradersway. I've had great customer service and a simple withdrawal and deposit process.
XM Trading is straightforward. However, it is simple to use. It has simplified my trading experience. The customer service personnel is friendly and helpful. They provide outstanding service.
Their Customer Service is effective and efficient in general. They delivered my verified account in a quick period of time, which is impressive. I'd like to stick with it.
Avatrade broker, in my opinion, is a hassle-free way to purchase and sell. After using it, I am completely satisfied and would recommend it to friends.
I noticed that OctaFX, a forex broker, had won 35 awards! It is also Asia's best broker. It demonstrates that it is a reliable Forex Trading Broker. OctaFX is something I use frequently, which is why I strongly suggest it to everyone.
It's a fantastic platform. The best thing is that withdrawals and deposits are processed quickly with no charge. Exness deserves praise.
The best product on the market is provided by FP Market. It's both unusual and smooth. It's my favorite.
Litefinance was a good experience because they offer a wide range of trading options, which caught my curiosity. In addition, compared to other places, admission fees are low.
The best thing about IC Market is that there are no trading restrictions and the spread is global. A minimal amount can be traded. As a result, anyone can effortlessly select this broker.
One of the greatest sites for newbies, especially those looking for quick results. It's safe and well-suited to trade.
This platform is ideal for anyone wishing to grow their Forex trading network. It also has collaboration programs.
JustForex is an excellent site to invest in overall, although the interface should be improved.
I've only collected useful ideas during my nearly two years on Tradersway. I've had great customer service and a simple withdrawal and deposit process.
XM trading platform is easy and the deposit and withdrawal process is fast. Traded with their bonus and it was easy without encumbrances. I will recommend XM to anyone any day and their customer service is efficient.
Tickmill is, in my opinion, the better option, but it will be even better if ECN introduces a $50 minimum credit requirement.
AVA Trade provides poor service. They only told me to put down more and more money. Withdrawal is destructive. Do not waste your time with an ineffective agent.
OctaFX offers so many opportunities that anyone can benefit from them, which is its best feature.
Exness is one of the most outstanding online trading platforms I've seen. However, I believe that some things should be added.
When trading with any currency, the FP Marketing broker is simple to use. Withdrawals and deposits continue to flow unabated. This is the broker I like.
The most important aspect of forex trading is order processing speed, which this broker provides in spades. As a result, I give it a thumbs up.
The market sentiment indicator on the IC Markets broker displays how other people are trading. It is very beneficial to new traders in terms of developing strategies. So far, it's been a fantastic broker.
As a Muslim trader, I prefer FBC because they provide swap-free accounts (known as Islamic accounts) which don't contradict the teaching of Islam. It is the best part of this broker I think.
From my side, Robo Forex is a great place to earn profit by promoting the materials they provide on other websites. Good to have knowledge about them.
My overall perception of Just Forex is good. I didn't need that much time to verify my account, also my every deposit and withdrawal experience was smooth. They offered broad resources to explore.
It's been a year since I'm using this trading platform. TradersWay provides the best rates and low spreads, and fast execution. Happy with service.
The motive of XM brokers is to provide the best service to its clients. Trust me they do what they say. I am fully satisfied with their ministry.
Tickmill brokers are very professional and sincere. I have been using Tickmill since 2019 and with time, their services are getting better and better.
First time using this site. Everything is working smoothly. But some features need to be improved. Above all, it’s the best broker.
OctaFX is an official forex trading platform. Settings helped me to manage my profile and deposits. It also has a demo option for beginners.
Exness a perfect brokerage platform for a good investment. I've tested the platform with a demo version and had a good experience. Now I'm about to start with a real account.
On its YouTube channel, FP Market has a number of educational videos that serve as a guide for its users. In my opinion, it is the best aspect of this broker.
Using LiteFinance as a day-to-day FX broker was indeed a worthy experience as they provide a lot of trading opportunities. Also my funds have grown in this broker platform. Finally, after a lot of hassle, I've succeeded in getting a trusted company that pays instantly. This is the best place at the right moment everyone must invest.
Excellent broker for both Forex and CFD trading. Its fast functionality and easy navigation amazed me most.
The best thing about FBS that amazed me most is its diversity. They value all clients, understand them, and fulfill their different demands. In a word, they have good management.
Robo Forex has a great reputation for providing 24/5 currency exchange service and customer care, which nobody can deny. They keep their customers happy by giving them access to their forecasts and educational materials.
Truly satisfied with Just Forex's leverage for deposit and its fastest withdrawal process. Looking forward to building my career as a trader with Just Forex.
Tradersway is a great platform for trading, I started my trading journey with them and there is no looking back since then.
Trust me XM is really a good Forex broker. This broker is trustworthy. Withdrawals are always fast and smooth. But it needs to be updated. Hopefully, they update it soon and ensure the best version.
Tickmill has very professional brokers. I have worked with many brokers, but they are the best. And their fast deposit and withdrawal process is very convenient.
Avatrade has many options to explore not only buying and selling shares. I can choose the perfect platform to invest in by comparing the industry. Worthy to use.
For beginners, it's a great platform to start their forex journey since OctaFX offers comprehensive video tutorials and articles. They also have manuals, traders' tools, and many more features.
I started my forex journey with Exness, and it's very user-friendly. It provides Fast-paced transactions and instant withdrawals, which I appreciate.
FP Markets is most known for its Forex trading, but it also offers CFD trading in equities, metals, commodities, and indices. It is equipped with cutting-edge online trading software designed exclusively for CFD trading. Consider it to be an excellent trading option.
LiteFinance is a really good Foreign exchange broker. This broker is trustworthy. Withdrawals are always fast and without any additional checks. I would also like to note the fast execution of trade orders. Hopefully, in the future, their market analysis app will get better.
IC Market ensures the best and the most transparent trading experience. For a long time, I've been with IC and wish to be with them.
