Global Broker in Forex, Stocks, Indices, Oil and Gold

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.

XM Live Chat

You will not be charged a fee for opening an account on the platform. However, if you are inactive for 90 days, you will have to pay an inactivity fee of $15. Subsequently, you will be charged $5 monthly limefx if this inactivity persists.

Across is Standard and Micro accounts, XM looks to make money on the trading spread rather than charge commissions. Whereas with the Zero account, there is no spread and instead ZM charges a commission on every trade. At XM there is a Demo Account facility that gives you a virtual balance of $100,000 to play around with and find your feet. The demo account has an unlimited duration, giving you all the time you need to activtrades review get prepared for trading a real account. Traders who are new to the game and are cautiously just finding their feet may prefer the option of the Micro Account.

Trade Execution

In evaluating trust and safety, XM’s strong regulatory framework, fraud prevention measures, client fund security, and emphasis on risk management contribute to its reputation as a reliable and secure broker. Traders can have confidence knowing that their investments are protected and that they are trading with a broker that operates under the supervision of respected regulatory bodies. Here at Forexbrokers.net, we take pride in helping our readers find the best possible financial service providers and avoid fraudsters.

XM forex trading broker offers a wide range of assets, including major currency pairs, stocks, cryptocurrencies, and CFDs. Traders can use the MT4 or MT5 platform to buy and sell CFDs with high leverage, and this makes the platform suitable for both new and experienced traders. XM offers over 1000 trading instruments as well as 24/7 trading on crypto and CFDs. This is great for traders who love to trade multiple assets as they can get access to these assets on a single trading platform. You can trade crypto pairs, such as BTC/USD and ETH/USD; or crosses, such as BTC/XRP.

There are several account types available and you can choose whichever suits you during the signup process. Your login details to the MT5 will also give you access to the XM WebTrader in addition to the desktop (downloadable) MT5 and the accompanying apps. XM has also really put the effort in when it comes to Research and Education. The website is jam-packed with content to give traders the most assistance they could ask for on their journey. Looking also at the number of base currencies available, there are 11 to choose from.

If you trade using MT4, your webtrading will be done on the XM MT4 webtrading platform. 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. As a trusted broker, XM is regulated by tier-one regulatory bodies and takes measures to guarantee the safety of your funds and information. This is prompt and fairly standard across the industry but still a good response. It is always important for would-be traders that they understand the flip side of trading with a dealing desk broker.

If you fund your account in a currency different from the base currency of your account, a currency conversion fee may apply. When it comes to trust and security, XM has taken significant steps to establish itself as a regulated and secure broker. The phone support is also great and you can access it in various languages.

Tradable Instruments and Assets

XM may charge overnight financing fees for holding CFD positions overnight. These fees can vary depending on the instrument and market conditions. XM offers a low barrier to entry, enabling traders to commence with a modest initial investment,starting from just $5.

1. It also ensures that financial markets are fair and transparent, which promotes stability and growth.
2. A spread is the difference between the bid and the ask price of a currency pair (buy or sell price), and so to make it even easier it is the price at which your broker or bank is willing to sell or buy your requested trade order.
3. With great customer support, excellent research and education content and negative balance protection, XM is certainly great for beginner traders.
4. Over the years, MetaQuotes had invested in continuous development, testing and improvements, which made MT5 today as the next generation of trading platforms with extended possibilities.

There is no way of knowing how often, if at all, XM trades against its clients. On the plus side, we think they have an excellent selection of stocks CFDs, in addition to a decent selection of forex pairs. However, outside of stocks CFDs and forex that we believe that XM is lacking somewhat, and sometimes significantly so. Despite this, MT4 is considered the industry benchmark for platforms and is very popular with retail clients, especially beginners.

XM provides mobile trading apps for both Android and iOS devices, offering intuitive interfaces, real-time charts, technical indicators, and easy order execution. When holding positions overnight, traders might incur swap rates, also known as overnight fees. These rates can be both positive (credited to your account) or negative (debited from your account) and depend on the interest rate differentials between the currencies being traded. XM may charge an inactivity fee if your trading account remains dormant for a specified period (more than 90 days). This fee encourages active trading and helps cover administrative expenses.

Trading Instruments

XM Group’s extensive offer of tradable instruments allows traders to access a broad spectrum of markets, from forex to stocks and commodities. While the number of instruments offered varies across asset classes, XM’s diverse range of options provides traders with ample opportunities to capitalize on different market trends. The broker’s comprehensive selection of tradable assets contributes to its appeal, making it a suitable choice for traders seeking to diversify their investment portfolios and take advantage of various market segments. Aspiring traders seeking a comprehensive and user-centric trading experience should look no further than XM Group. With its user-friendly platform, diverse tradable assets, and commitment to education, XM stands out as a broker of choice. Whether you’re a beginner or an experienced trader, XM Group offers a range of account types to suit your needs and preferences.

Some of the more forex focused brokers such as Forex.com and OANDA have closer to 80 forex pairs available. The website suggests that XM offers 1377 instruments, but the vast majority of these are stock CFDs. With a poor selection of indices and commodities ( precious metals – Gold and Silver, 5 energies and 8 soft commodities ), we were disappointed to see a lack of any ETFs, options, bonds or cryptocurrency (Bitcoin, Ethereum, Ripple, etc).