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Xm Broker Review 2020 Is It Safe Or Scam? All Pros & Cons

Moreover, Local bank transfer option is available for South African traders for easy funding. Retail foreign exchange trading You will need to login to your XM account to check the options available for you.

This list of brokers like XM is in order of similarity and only includes companies that accept traders from your location. The easiest way to contact XM is through their live chat feature found on the contact page of their website.

Welcome bonus – Another welcome bonus for all the newly registered clients on the XM Group website gives you up to 100% with a maximum reward of 5000 $ of your initial deposit. Unlike the previous bonus, you must make a deposit in advance and then to receive the bonus. So if you deposit 200 $ you can have in your wallet 400 $.

Our Forex Broker Review Criteria

However, the trading platform of MetaTrader itself does not have a two-step verification process. The MICRO account allows you to operate with micro lots, a lower level of risk and it has a minimum initial deposit of $5. This gives XM the opportunity for clients to keep their status for more than the allotted hours that are commonly provided. XM does not require an inactivity fee per month, which means that traders do not have to worry about being charged until they are inactive for a period of 90 days. However, traders have to consider that the trading fees are relatively average.

XM provides three types of accounts apart from a Demo account. But, if you are a high volume trader then Hotforex’s Zero account fees would be lower comparatively.

How Can I Deposit Into An Xm Account?

While the market is increasing and more and more people are becoming involved in the industry, it is very hard for brokers to maintain their positions and to fight the high competition. The philosophy is very simple, the survival of the fittest. The brokers that have the best offers and the guarantee the best experience to the traders end up being the top brokers with millions of traders on the account. XM has an excellent educational area for clients new to trading, including videos, tools and live webinars it’s one of the best educational areas we have seen with a broker of this type.

In fact, the deposit and withdrawal options are listed side by side on the website and a trader needs only click on “make a deposit” or “request a withdrawal” in order to make a transaction. The XM customer support desk is available 24 hours a day, from Monday to Friday – the same time period over which the markets are open. The XM management has visited over 120 cities around the world to connect with their clients and partners in order to interact with them on a face to face basis.

Xm Islamic Or Swap Free Account

Thankfully, XM Group offers the best Forex broker platforms that are intuitive and great for daily usage. The standard software types XM Group uses are MetaTrader 4, MetaTrader 5, and Web Trader. Besides those, XM Group is alsoavailable on mobile, allowing you to trade any time and XM Forex Broker Review from any place you wish. During our review of XM Group, we found there are five account types available. These are XM Micro, XM Standard, XM Ultra Low (non-EU Only), and XM Zero . Non-EU clients can also open an XM Global Shares account, and all traders can enjoy demo accounts.

At the time of this review, XM’s clients add up to over 2.5 million. This makes the global online broker one of the market leaders in the financial industry. XM forex broker offers rapid market execution along with a no re-quotes/rejection system on both platforms. Micro account type has a very low $5 minimum deposit condition.

Kenya Forex Firm is a forex trading and training company based in Nairobi Kenya. Since our inception in 2014, we’ve trained more than 1000 students who’ve gone on to become successful forex traders in Kenya. I have tried to hunt everywhere for information that XM Forex is an ECN/STP broker, but unfortunately, it seems like this particular forex broker is a market maker. It will take you less than 10 minutes to register and start trading forex with XM Forex.

What Is The Minimum Deposit For Xm Broker?

XM also offers its operational philosophy as a reason to consider choosing this company as a broker. Its philosophy is to earn loyalty as a way to ensure the satisfaction trader of clients. XM recognizes that credibility and reputation are closely linked. With XM Group, there are no deposit fees and no withdrawal fees either.

This indicates that XM cares a lot about its beginner customers and wants to include them into his platform as easily as possible. The final, and no less crucial, section that we’re going to cover in our review is the customer support. It is always crucial for the broker to provide stable interaction mechanisms that aren’t too difficult to comprehend. Educational videos found during our review of XM Forex broker take you through the entire trading platform and explain how to use all of XM’s offerings. These videos are uploaded on YouTube, which delivers all of the best functionalities, like subtitles, speed controls, and many more. When it comes to the execution policy at XM, our team was positively impressed by the features and conditions that the broker offers.

Traders interested in trading individual major market stocks should give XM serious consideration as a broker of choice. Trading individual stocks at XM is available with competitive to average stock fees. US shares carry a commission of $0.04 per share, twice as high better-priced options, but the minimum cost of $1 per forex analytics transaction ranks among the lowest. UK and German shares show a stock fee of 0.10% with a minimum of $9 and $5 per order. The percentage-based charge is average, and the minimum cost highly competitive, especially for traders with smaller portfolios. The combination of the XM structure results in acceptable stock fees.

• Also note that some funding options available at XM Forex have higher minimum deposit requirements.
• When it comes to commissions, XM manages to do away with the majority of unnecessary charges on its platform.
• There is an internal matching system between the positions of the traders.
• The next section of our comprehensive XM review is the promotion section.
• Similarly to the web trading platform, we tested the MetaTrader 4 platform on Android.
• It’s nice to have an option of choosing the leverage as I implement several trading approaches.

They are renowned to provide good quality services to all clients. They also provide timely withdrawal to all and also they do give good services whenever clients goes to their live chat. Retail client funds at XM Forex are insured up to €20,000 by the Investor Compensation Fund. Meanwhile, all clients benefit from Negative Balance Protection, so they are never at risk of losing more than their account balance. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.

About Xm

The research section includes highlights and links to the subsections. The right side of the screen shows some of the most common assets and their current spreads and prices. You can make use of any by contacting your Personal Account Manager. Those supplement the algorithmic trading tools already built into MT4 and MT5. It is also worth noting that MetaTrader 4 and MetaTrader 5 are very widely used. As such, there are also numerous support and educational materials available online from third parties.

Categories: Forex

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