XM is a forex trading platform with a long history of operation. At the same time, it is also a platform that attracts a large number of participants. However, there are still many users who are still wondering about broker XM Forex. If you are interested in this issue, let’s explore the XM platform with MForex through the article below!
A detailed review of XM forex trading
Broker XM Forex
Let’s learn information about the XM forex exchange through the following key points:
Establishment time of XM Forex
Similar to the FBS trading platform, XM is also a foreign exchange trading platform founded by Trading Point Holdings Ltd in 2009. After more than 13 years of operation in the market, XM has quickly achieved strong development. XM has become a reliable and large-scale investment company with more than 3.5 million customers.
Another notable point is the presence of a team of experienced experts. It is expected that the number of these experts will reach 450 people, working closely with European Union organizations. This has created a transparent trading environment and combats money laundering activities.
Thus, through the above information, XM has affirmed its position in the market. XM Forex will continue to provide quality trading services to investors.
License and certificate to operate on the MForex
The operating license of broker XM forex? This is something that most users are interested in more than ever. XM Forex exchange is a reputable trading exchange. Because XM forex has received operating licenses from many leading financial institutions as follows:
- License No. 120/10 issued by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus.
- License number 443670 is issued by the Australian Securities and Investments Commission (ASIC) in Australia.
- License number IFSC/60/354/TS/18 issued by the International Financial Services of Commission (IFSC).
- License F003484 from Dubai of Financial Services Authority.
With multiple licenses from leading financial institutions, XM is proven to be trustworthy and must comply with strict regulations from these supervisory authorities. This ensures that all XM information and operations are always clear. At the same time, it increases accuracy and is done to protect the interests of customers. It also helps prevent wrongdoing and money laundering.
What are the attractions for investors on the broker XM forex trading exchange?
Impressive numbers that broker XM Forex trading has achieved
Up to now, the XM exchange has recorded a series of impressive numbers as follows:
- With more than 2.5 million customers from 196 countries, XM has built a large network. At the same time, it is creating a forex exchange with a diverse customer base around the world.
- Every day, the XM exchange carries out a trading volume of up to $15 billion. This shows positivity and trust in trading activities.
- With 1.4 billion executed transactions, XM has not recorded any order rejections or requotes. This issue has brought transparency and trust to transactors.
- XM Exchange has built more than 120 partnerships worldwide, placing itself in an international position. This shows that XM Forex has created a foundation for sustainable development.
- The official website of XM Forex attracts more than 5 million visits every month. Show interest and trust from the trader community.
- With 16 comprehensive software and 25 secure payment methods. XM exchange creates favorable conditions for customers to participate in transactions and financial management.
- The support team includes more than 450 experienced financial experts. Helps ensure quality support and useful information for customers.
Thus, these impressive numbers show the development and reliability of the XM platform in the field of foreign exchange trading.
XM Forex has extremely thoughtful customer support policies
Customer asset protection policy on broker XM Forex that many users enjoy. And perhaps this is something that traders are extremely interested in. Below are some customer support policies of the XM exchange:
- Customers do not need to worry about the money being combined with the company’s assets. All customer deposits at the XM platform are safely stored in reputable bank accounts. This segregation ensures that client funds are completely separate. At the same time, it is not related to the company’s assets. XM does not use client funds for investment or risk management.
- All audit activities at XM are conducted by independent audit units, ensuring transparency and honesty in financial management.
- XM is committed to helping protect customers from negative balances. This means that customers will not lose more than the amount available in their account. This mechanism helps ensure that customers will not encounter situations where losses exceed their account balance.
Promotion program of XM forex trading
The promotion program on broker XM forex makes many traders so excited. To expand its customer network, XM has continuously implemented attractive promotions to attract new users. At the same time, it is intended to show gratitude to customers who have supported the exchange. Below are some outstanding promotions currently taking place at XM:
- 20% cashback on deposits: Customers receive 20% cashback on deposits, with bonuses up to $5000.
- XM $30 for free when creating a real XM account: As soon as you create a real trading account at XM, follow the XM 30$ bonus to receive $30 in your account.
- Share and receive a $35 bonus: When you introduce a relative or friend to trade at XM, you will immediately receive a $35 bonus.
- Free VPS service: XM offers free VPS service, which helps increase trading speed and reduce latency.
>>>See more: 30 XM Bonus – Attractive promotion program for a trader
What tools are supported on broker XM forex?
The trading platform is available on MForex
XM has partnered with MetaQuotes group to provide two trading platforms, MT4 and MT5. These are two popular trading platforms that many traders choose today. Additionally, both platforms are compatible with the majority of devices. Including computer operating systems as well as iOS and Android phones.
Below are some outstanding features of both the MT4 and MT5 platforms
- Support for over 1,000 products: This includes forex, cryptocurrencies, CFDs and futures. Helps bring users diversity and wide choices when participating in transactions.
- Provides 3 types of charts and full technical analysis tools: This helps users easily grasp market trends. At the same time, it helps traders make more accurate trading decisions.
- Supports all order types, and one-touch trading: Both MT4 and MT5 allow for a variety of order types. This includes one-touch transactions, and optimizing the transaction process.
- Full-featured EA (Expert Advisors) automated trading: Both platforms support EA (Expert Advisors) automated trading features. This is intended to help users make transactions without manual intervention.
- Low spreads from 0.6 pips and reverse order placement: XM offers low spreads and reverse order placement ability. Aims to create favorable conditions for traders.
XM Forex exchange offers a variety of trading products
What products are offered on broker XM forex? XM currently offers more than 1000 different trading products. Divided into the following 8 groups:
- Forex: XM supports more than 55 different currency pairs. This includes major, minor, and rare currency pairs. Contributes to providing flexibility in transaction options.
- Commodities: Trade agricultural products such as soybeans, sugar, flour, coffee, pepper, cocoa, and many others. XM Forex has taken advantage of the market’s volatile potential.
- Energy: Access global energy markets with Brent crude oil, natural gas, and other energy sources.
- Precious Metals: Trade and invest in gold and silver, the traditional precious metals.
- Stock CFDs: More than 1180 stock codes are available on the XM exchange. This has created opportunities to participate in the international stock market.
- Stocks: Trade over 100 different stocks and enjoy convenience and flexibility on the XM Share account.
- Stock indices: Trade 30 stock indices representing major global companies. XM has created an opportunity to diversify trading.
- Cryptocurrencies: Trade popular cryptocurrencies today. This allows participation in the potential market of digital assets.
XM’s diversity of trading products gives investors many opportunities to optimize their portfolios and participate in a variety of markets.
XM Forex fees
Although the transaction fee at XM is not as competitive as Exness, overall it is quite good. Specifically, when trading on XM, you will encounter the following fees:
- Spread: Each product will have a different spread. For example, major currency pairs can have spread from 0.0 pip, while energies can have spread from 0.3 pip.
- Commission fee: Currently, XM exchange only applies commission fees to Share accounts. Other account types do not charge commissions.
- Overnight fees: XM does not charge overnight fees for Swap-free accounts and Share accounts. However, other accounts will incur overnight fees depending on the currency pair you trade.
Although not in the most competitive segment, the overall transaction fees at XM are still considered quite reasonable and comfortable.
>>>See more: The most detailed instructions for login XM for traders
What types of XM accounts are supported on broker XM forex?
XM offers a total of 5 trading account types. This is probably suitable for both new and professional investors. No matter which type of XM account you choose to sign up for, we guarantee to provide the following trading conditions and order execution quality.
Below is detailed information about the available account types on the XM Forex exchange:
- Micro and Standard accounts: These are two accounts for new investors without much experience. The minimum deposit requirement is only $5. There are no commissions, and there are floating spreads starting from 1 pip.
- Swap-free XM account: This account is suitable for those who often hold positions overnight. The common point with the previous two accounts is that nothing has changed. However, traders will receive free swap fees.
- XM Ultra Low Account: Specially designed for investors with experience in the field of financial investment or Scalping, this account focuses on making trades with extremely low spreads.
- Share account: For investors who participate in stock trading and have a lot of experience. Minimum deposit required from $10,000 and no leverage supported.
Things to pay attention to when joining broker xm forex?
- Price difference:
XM is committed to providing all clients with tight spreads, starting from just 0 pips. This applies to all currencies on the XM platform. This difference does not depend on the type of account or the trading volume the client is making.
- Margin and Leverage:
At XM, investors can manage immediate risks by controlling used margin and free funds. At the same time, the company provides monitoring support and warnings about the possibility of running out of margin (margin burn). The purpose is to help investors maintain a controlled situation.
For each type of initially registered account, investors have the flexibility to use leverage from 1:1 to 1:500. XM aims to help traders optimize their opportunities to increase revenue and profits.
- Trading hours:
XM continuously supports customers 24/5 via Live Chat or phone. Working hours last from Monday to Friday every week, 24 hours a day.
Conclude
Above are provided details about broker XM Forex. At the same time, MForex also conducted an assessment of the advantages and disadvantages of this platform. Overall, after more than 10 years of development, XM has continuously strived to improve. Provide customers with the best services and always maintain attractive promotions. Therefore, when making transactions at XM, people can completely trust and feel secure.
FAQ
Is broker XM Forex reputable?
XM has been considered a reliable broker. The reason is that XM is licensed to operate by reputable organizations such as FSC, CySEC, ASIC, and DFSA. In addition, the XM platform has accumulated 13 years of experience in the field of foreign exchange investment. Furthermore, there has not been any information related to XM scamming players up to now.
Transaction fees at broker XM Forexx?
Currently, if the account has no activity for 90 days, XM will charge an account maintenance fee. Each month, you will be deducted $5 until your account balance is exhausted.
What are the minimum and maximum withdrawal limits at XM?
The minimum amount that can be withdrawn at XM ranges from $5 to $15. However, there is no specific regulation on the maximum amount you can withdraw from your account.
