XM is a name registered under Trading Point of Financial Instruments UK Limited (XM UK). The company is registered in the London UK, authorised and regulated by the Financial Conduct Authority (FCA). in Australia; Trading Point of Financial Instruments Pty Ltd (XM Australia) authorized and regulated by ASIC, XM Global Limited is regulated by IFSC Belize, and in Cyprus; Trading Point of Financial Instruments Ltd is regulated by CySEC. It opened its doors in 2009. It has grown to be one of the leading forex brokers in Europe and beyond. Today, the company serves over a hundred thousand clients.
XM is authorized by the European Union to offer its financial services to its customers and follows the best practice in executing forex trading orders on behalf of its customers. CySEC is the official local regulator that provides a trading license to the forex traders, ensures transparency and guards against money laundering.
Features of their services
XM offers several commodity and online forex trading features that include trading in stock indices, precious metals, forex, and energies. One feature that sets XM apart from the rest is that it does not have any rejections or re-quotes on trading orders. Moreover there no additional commissions and other fees. It boasts of executing 99.35% of all orders in under one second.
The trading platform offers a maximum leverage of about 888:1. It has over 60 currency pairs and allows its customers to trade with over 100 financial instruments. Trading can be done either online or by phone.
Moreover, there are eight advanced trading platforms, and there are no upper limits on the amounts that you can deposit. All the eight trading platforms can be accessed from one account. This is meant to increase the speed by which customers can stop, limit or trail orders or trade from any location in the world with ease. Their popular metatrader 4 and Metatrader 5 works with an unlimited number of accounts. The trading software is also available for iPhone, Mac, iPad, and the Android. You can also trade from the website with the web trader.
You join the broker by registering at the website. The registration is available in 17 languages. You can start trading once you open the account. Beginners and seasoned forex traders have access to similar features and trading conditions whether they are working on a real or a demo account.
Demo account holders are offered $1,000 in virtual currency. This is meant to help them test their knowledge and skills without putting their money at risk. While do not lose anything on the demo account, you also do not win anything. You need to open a live account when you are confident enough with your trading prowess.
Once you open a live account, you are supposed to make a minimum deposit of $5. You can also go for the micro account option. This option allows you to have two XM accounts without getting a second verification. The minimum deposits for a micro-account is $5 too. The platform also offers an executive account which is an upgrade from the standard account.
Each of the three accounts has custom-tailored conditions and offer currency options of Euro, GBP, USD, AUD, CHF, and JPY. One micro lot (micro account) is worth1,000 units of the base currency. One Standard lot (Standard account) is worth 100,000 units of the base currency. The executive account has similar units of base currency as those of the standard account.
XM clients benefit from very tight spreads that go as low as one pip in all the major currencies traded on the platform. The same spreads are offered across all the types of accounts. You can also try the fractional pip pricing if you would like to trade with tighter spreads. Tighter spreads benefit from more accurate quoting than the less tight ones.
Deposits and withdrawals
XM safeguards the client funds by banking them in Tier 1 segregated Barclays account. You can fund your account any time of the day or night all year round. You have a choice of various payment methods that include credit cards, Neteller, WebMoney, Skrill, bank wire, Fasapay and local bank transfers. (where you wire cash from your bank account). You can withdraw your cash anytime that you wish.
XM enjoys favorable reviews from forex trading clientele. Its high performance coupled with multiple features and flexible terms of service attracts forex trading enthusiasts from around the world. It offers very tight spreads, eight trading platforms and the ability to trade via the mobile phone among other features. All the relevant licensing bodies have licensed the platform. With these benefits and many others, it is safe to say that XM is a forex trading platform that you can trust.Visit Now