The more assets there are to trade, the more opportunities there are to make money; and the more diverse the assets, the more likely it is that you will find something that fits your trading style. Some specialize in foreign exchange (forex) trading; while others focus on stocks, options, or other securities. Investor protection is important because it provides confidence to potential investors that their money is safe and protected. It also ensures that financial markets are fair and transparent, which promotes stability and growth. To keep funds secure, segregated accounts are sometimes held with top-tier banks. We offer impartial reviews of online brokers that are hand-written, edited and fact-checked by our research team, which spends thousands of hours each year assessing trading platforms.
Is XM suitable for beginner and professional traders?
- If you are a trader that comes under the XM Global entity (Belize regulation) you can have a Shares Account which means that you can trade the underlying company shares (ie. not just the CFDs).
- This is unlike any other account type offered by the broker, where the minimum deposit to open the account is just $5.
- Some of the more forex focused brokers such as Forex.com and OANDA have closer to 80 forex pairs available.
- EAs available with unlimited use of charts for those that prefer technological trading, also great manual trading tools will assist in your strategy as well.
Moreover, while the majority of brokers still charge for wire withdrawals, XM deposits and withdrawals above 200 USD processed by wire transfer are also included in the Company’s zero fees policy. The funds transaction at XM are managed in a customer-oriented way too, traders having a choice of multiple payment methods supported in all countries. For another, the broker features lots of different fund protection mechanisms, be it negative balance protection, fund segregation, or a money insurance policy. Each of these mechanisms, both individually and collectively, ensure that the money you deposit is safely stored at XM and won’t be affected by various unexpected occurrences on the market.
The financial markets to trade at XM
Also, conditions and offering is different based on XM entity as we found by research. However, always choose your leverage smartly, as well as the entity under which you would like to trade, which you may learn more through the XM education center, see snapshot for EU clients below. XM Group is a group of regulated online brokers, which serves as Trading Point of Financial Instruments Ltd established in 2009 and regulated by the Cyprus Securities and Exchange Commission (CySEC).
XM Trading Platforms
When it comes to online trading, there are decent brokerages, then there are good brokerages, and then there are the brokers that are, in every sense, exemplary to other brokers. XM TV is a great addition for videos whilst podcasts are also now on the site. Looking also at the number of base currencies available, there are 11 to choose from. It is always important for would-be traders that they understand the flip side of trading with a dealing desk broker. The Micro account gives you all the same features as the Standard account, however, the equivalent contract size of trading 1 Lot is 100 times lower.
I find them to be one of the most reliable brokers for trading and investing online, especially if safety and low costs are important to you. Ultimately, XM is a reputable broker with many tools for new and experienced traders to maximize their trading strategies. The platform offers https://traderoom.info/ low fees and spreads as well as comprehensive educational content for traders. However, the range of deposit and withdrawal options as well as commissions charged per trade can be improved upon. Before deciding to trade with this broker, make sure that it meets your trading needs.
Conversely, if the interest rate for the bought currency is higher, the broker will actually give you the interest rate differential. Now, even though the DFSA license is originated from Dubai, it doesn’t automatically mean that the broker provides service to the citizens of the United Arab xm forex broker review Emirates. When it comes to publicity, XM has no negative coverage that we were able to find on the web. Plus, the company continuously submits financial statements to the financial bodies. This introduces much higher transparency and incites trust to the clients, as well as regulators.
One of its differentiating aspects is its user-centric strategy, which provides clients with diverse trading products. This process is backed by rigorous testing and research, conducted by a team of traders and industry experts. We employ both manual assessments and automated testing through Expert Advisors, Indicators, and Scripts to ensure accurate and unbiased evaluations. XM, established 15 years ago, has carved a niche in the online brokerage industry with its diverse offerings and client-centric approach. When funding an established trading account, no minimum deposit is required, although certain e-wallet payment methods require a minimum of $5.
Each year we publish tens of thousands of words of research on the top forex brokers and monitor dozens of international regulator agencies (read more about how we calculate Trust Score here). In addition, once the form is complete, Kenyan traders must complete the KYC process where they must submit proof of identity and residency. Once the information and documents have been compared and verified, the account will be approved, and traders can deposit funds to start trading. I’ve traded forex with XM since 2010 and it has earned its place in my list of the best forex brokers for online trading.
Anything above this amount can then be transferred via bank wire or e-wallet for the remaining transfer of funds. For traders outside Europe and under the XM Global entity, there are bonuses available. Given the demo account has an unlimited duration, this is one way of persuading traders onto the live platform.