Subsequently, you will be charged $5 monthly if this inactivity persists. In total, there are 356 different CFDs offered by XM, with five https://traderoom.info/is-xm-a-brokerage-we-can-trust/ of these being cryptocurrency CFDs. There are 57 currency pairs on offer and they don’t offer any ETF products. Increase your trading power with every deposit and make every trade count – T&Cs apply.

IG Markets

For traders, the value of these regulation and licensing credentials can’t be overstated. XM Brokers ensures traders that their funds are safeguarded and that the broker is acting with integrity and transparency. While XM’s platforms received a mention in our list of “pros”, the fact that there are only two is limiting.

1. XM Broker features three different account types, each catering to different trading styles.
2. For the same pair on the other two accounts, the average spread for this currency pair is 1.7 pips.
3. And, we found the platform tutorials to be helpful, especially for new traders.
4. If you are a new trader, you can learn by watching videos on the platform in the Beginners Room, then practicing with a XM demo account.
5. That is why it is important to choose a broker with low commissions and fees.
6. Having been around since 2009, XM are regulated by a number of trusted authorities.
7. If you’re looking for reliable and accurate information about brokers, you’ve come to the right place.

Discover Your Next Trade

This swap-free option is designed for traders adhering to Sharia law. It eliminates overnight interest charges, making it suitable for those seeking trading opportunities that align with Islamic finance principles. There, you’ll find all the info you need about the account types, platforms, assets, and more.

Manage Your Account

These tools will help you learn how to trade on XM trading platform even if you are a first-time user. XM caters to new traders with features like low minimum deposits (starting at $5 for certain accounts) and demo accounts for risk-free practice. I expected XM to offer a dedicated account type for experienced traders with substantial trading volume or portfolio size. On the downside, the asset coverage is limited to only forex and CFDs. Traders with limited experience in these assets might prefer a different broker. However, you can learn more about how to read forex charts and find other educational resources on their site.

The deposit and withdrawal process is generally straightforward and convenient. While international bank wire transfers can take several days depending on the bank, Visa and Mastercard transactions are typically processed instantly. Minimal withdrawal amounts, however, will depend on the transfer type and are typically a little higher.

In addition to paying commissions, you may have to factor in the cost of spread while trading. XM offers a wide range of trading instruments, quality customer service and an in-dept educational platform. XM has a great mobile trading platform, which is offered on MT4 and MT5. The platform is highly user-friendly and provides a great search option. More than 14 languages are catered for through the customer support service at XM.

It’s a highly reputable broker, with strong regulatory oversight, They offer competitive pricing, with low minimum deposits. The trading experience is solid for both beginner and expert traders, and the MetaTrader platforms are a plus. When I chose them as the main broker to trade with, they had been already in the business for around a decade. XM Broker works off of two of the most popular trading platforms – MetaTrader 4 (MT4) and MetaTrader 5 (MT5). A defining feature of these platforms is their user-friendly interfaces. This is a welcome feature for new traders and experienced traders who like a streamlined user experience.

All accounts also come with multilingual support and a personal account manager. When evaluating XM Broker reviews, it’s critical that a variety of criteria is considered. This helps to ensure the broker performs in the areas that meet your needs and trading style. In the evaluation of XM Broker, we considered the most important benchmarks.

1. Login with your email if you just registered, or you already have an XM profile.If you don’t have an XM profile yet, enter your MetaTrader credentials to proceed with creating one.
2. XM is known for its low minimum deposit amount, and this spans all account types.
3. You have two accounts which are free from commissions – Standard and Micro accounts, while the XM Zero account is based on commission.
4. Looking at the XM Zero account, the average spread for EUR/USD is 0.1 pips excluding the commission.

That is why it is important to choose a broker with low commissions and fees. While educational resources are a common feature for trade brokers, our assessment shows that XM goes above and beyond. The learning center is a thorough, comprehensive resource that includes live educational opportunities. And, we found the platform tutorials to be helpful, especially for new traders. XM Broker offers three different account types to cater to the needs of diverse traders. These include the Ultra Low Micro Account, Ultra Low Standard Account, and the XM Zero Account.

If you’re looking for reliable and accurate information about brokers, you’ve come to the right place. The phone support is also great and you can access it in various languages. You have to provide your name, country of residence, phone number, and email address. All the information provided should be accurate because it can help you secure your account or reset your password when necessary. When it comes to choosing a broker, there are many factors to consider—and one of the most important is whether the broker is regulated by a reputable authority.