Forex & CFD Trading on Stocks, Indices, Oil, Gold by XM
If you are looking for a platform that is easy and straightforward to use and that looks after their users, XM could be the right option for you. In total, there are 356 different CFDs offered by XM, with five of these being cryptocurrency CFDs. There are 57 currency pairs on offer and they don’t offer any ETF products. This includes over 350 CFDs, as well as 57 currency pairs and 5 cryptocurrency CFDs. Trading Point of Financial Instruments Limited provides investment and ancillary services to residents of the European Economic Area (EEA) and the United Kingdom. Contact the source provider Comtex at You can also contact MarketWatch Customer Service via our Customer Center.
- XM’s forex fees are average compared to its competitors.
- If you are looking for a platform that is easy and straightforward to use and that looks after their users, XM could be the right option for you.
- To set these, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings).
- At XM deposits and withdrawals are performed via the XM Members Area, which is fully functional on all mobile devices and which has been designed with mobile trading in mind.
- XM requires only one-step login for the platform, but provides two-step account login to access deposit and withdrawal functions.
XM is regulated by several authorities globally, including the top-tier ASIC. On the other hand, the company doesn’t disclose financial information and isn’t listed on any exchanges. XM provides negative balance protection for both EU and non-EU customers. XM operates several subsidiaries, and which one of these will serve you depends on your residency.
You have two accounts which are free from commissions – Standard and Micro accounts, while the XM Zero account is based on commission. XM always have a range of promotions they are running at any given time. They have a 100% deposit bonus up to $5,000, they have free VPS services and there are no fees on both deposits and withdrawals. The decision about which platform to choose is clearly based on what a client would like to trade.
Once you have downloaded the MT4 mobile trading platform, you should access the relevant XM server. There is a library of free educational materials for XM users including the likes of week https://traderoom.info/ interactive webinars and video tutorials. They always have the latest news from the world of forex as well as providing regular market analysis from the team of experts at the platform.
XM offer three different types of account for their users. The Micro account is best suited to beginners, with the standard account being ideal for flexible traders. The XM Zero account generally is best suited for regular traders or those who xm broker place significant trades. A forex trading platform is in essence the software provided by XM to its clients to carry out their trades. XM requires two-step authentication for the account login on the website where you can deposit and withdraw.
Having been around since 2009, XM are regulated by a number of trusted authorities. They are authorised in the European Union, as well as being regulated by the FCA in the United Kingdom. They have the necessary approval from the CySEC in Cyprus as well as being a ASIC regulated entity in Australia. XM was first started back in 2009 in London and now they have an offering of more than 400 different instruments.
XM is a broker that has been around since 2009 and now employs more than 300 people. They have a diverse offering of instruments, which caters for the needs of their users in an adequate manner. All of the usual forms of deposit and withdrawal are available with XM, such as Neteller Moneybookers, debit and credit cards and Skrill.
If you do not give your consent to the above, you may alternatively contact us via the Members Area or at
XM provides real stocks for clients onboarded under XM’s IFSC-regulated entity. You can’t change the leverage levels of the products, which is a drawback. Changing the leverage manually is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as the preset leverage levels may be high. The major difference is that you can set alerts and notifications on the desktop trading platform in the form of mobile push and email notifications.
Most of the education section on XM is based on video content. You can dive deep into topics ranging from an introduction to financial markets through money management and trading strategies to technical analysis. Each chapter has several lessons, all available for XM users only. However, the platform feels outdated and some features are hard to find. For example, it took us a while to figure out how to add an asset to the watchlist.
Can you open an account?
One of the recent awards they have received is being named as the best FX broker in Europe in 2018 by the World Finance Magazine. At XM deposits and withdrawals are performed via the XM Members Area, which is fully functional on all mobile devices and which has been designed with mobile trading in mind. If you already have an XM account, please state your account ID so that our support team can provide you with the best service possible. All our systems are built and updated with the client in mind. XM provides trading ideas under the ‘Trade Ideas’ tab, where you can find various assets and their recent performances. For desktop trading too, you can use the MetaTrader 4 and 5 platforms; we tested MetaTrader 4.
They have a wide ranging section for education, including free weekly webinars that are interactive. It is an ideal learning ground for beginner traders and with three different account types, they cater for all kinds of traders depending on what their specific needs may be. All platforms in the MT4 family are accessible with the same login and password, while all platforms in the MT5 family are accessible with the same login and password. Clients who wish to trade on multiple asset classes, will have to select the MT5 as their platform of choice during registration. Also trading and non-trading fees charged by a brokerage companies were taken into consideration.
This is important for you because the investor protection amount and the regulator differ depending on the entity. Live chat is quick to respond to the first message but gets a bit slower with subsequent questions. We found that sometimes we had to ask the same question multiple times to get a straight answer. You can easily see your profit-loss balance and the commissions you paid. You can find assets grouped into various categories. However, we missed the usual search function where you can type in the name of an asset manually.
The account opening process is seamless and hassle-free, and the broker offers a wide range of educational tools of great quality. The desktop trading platform doesn’t have two-step authentication; however, XM provides a two-step account login procedure on the website where you can deposit and withdraw funds. XM requires only one-step login for the platform, but provides two-step account login to access deposit and withdrawal functions. A two-step login procedure for the trading platform would be safer. XM offers MetaTrader 4 and MetaTrader 5 mobile trading platforms.
You can only withdraw money to accounts that are in your name. We tested debit card withdrawal and it took 2 business days. You can only deposit money from accounts that are in your name. With Islamic accounts, a flat commission is charged if you hold your leveraged position overnight instead of the percentage-based financing rates.
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We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compared brokers by calculating all the fees of a typical trade for selected products.
To gain access to any of the XM trading platforms, you will need to have a demo or a live trading account. Each unique account provides you with a login number that allows you login to the trading platform that you selected during the registration. XM offers mobile trading for all its trading platforms, and our clients can download the matching application of their platform of choice for both Apple and Android devices. The primary difference between MT4 and MT5 is that MT4 is predominantly a forex trading platform, while MT5 is a multi-asset trading platform.
You have access to virtual trading, but those using mac desktop computers will not be able to run this trading platform optimally. There are 51 different trading indicators available to you and there are 31 charting tools you can utilise. Looking at the XM Zero account, the average spread for EUR/USD is 0.1 pips excluding the commission. For the same pair on the other two accounts, the average spread for this currency pair is 1.7 pips. They offer more than 30 language options for their users and they cater for any and all levels of trader.
XM has low stock CFD, while average stock index CFD fees. To have a clear overview of XM, let’s start with the trading fees. We ranked XM’s fee levels as low, average or high based on how they compare to those of all reviewed brokers. As they are completely reliant on MetaTrader platforms, those familiar with the sector can easily utilize the broker as it is similar to a lot of other offerings out there. The private company behind the XM brand is Trading Point Holdings.
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We recommend XM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. Its forex and stock index CFD fees are average, and non-EU customers are not covered by any investor protection. The instructions of how to access the mobile trading platforms can be found on the relevant page of the mobile platform itself on the XM website. The Exness brokerage company was recognized as the best broker with low deposit. The company holds international licenses in 8 jurisdictions. The minimum deposit is $1, and the broker offers narrow spreads and a wide choice of trading assets.
XM offers forex trading (currency trading) on all its platforms. Our clients can choose the trading account that meets their needs and select the trading platform of their choice during their registration. Our clients can choose to trade forex and CFDs on stock indices, commodities, stocks, metals and energies from the same trading account. With a wide range of trading instruments available from a single multi asset platform XM makes trading easier and efficient.
XM account opening is fully digital, fast and straightforward. You can fill out the online application form in 20 minutes. There are a few exceptions though; among others, you can’t open an account from the USA, Canada, China, Japan, New Zealand or Israel. There is a $15 one-off maintenance fee after 1 year of inactivity, and this is followed by a $5 monthly fee if the account remains inactive. As they are reliant on MetaTrader for the trading software, you are not going to be surprised by anything on this front. They have a decent welcome bonus, matching your first deposit 100% up to a max bonus of $5,000.