More than 10 million people are participating in trading at XM Global. So specifically what is XM? Is it reputable? All your questions will be answered in detail by MForex in the article below. Refer now!
What is XM?
More and more investors know about XM Global. To better understand this exchange, let’s review some information below.
Types of XM exchange licenses
What is XM? How does the license work? XM Global is considered one of the world’s leading reputable trading exchanges. Because XM has been licensed by many international financial institutions. Specifically:
- CySEC – Cyprus Securities and Exchange Commission organization with license number 120/10.
- FSC – International Financial Services Commission in Belize license number 000261/158.
- ASIC – Australian Securities and Investments Commission issued license AFSL 443670.
- DFSA – Dubai Financial Services Authority license 000261/309.
These are all large financial institutions in the financial industry. XM Global will be supervised by these agencies in all business activities, ensuring transparency in all transactions. Besides, XM also received many other major awards such as:
- 2020: Rated as the Broker with the best customer service; Best Forex service provider 2020, Best Forex exchange in Europe, Oceania,…
- 2021: Best FX Training Broker Award in the Middle East and North Africa region; The platform offers the best trading experience; The most popular broker in 2021,…
- 2022: Received Best Crypto CFD Award; The Forex exchange provides the best and most professional customer support; Most Trusted and Transparent Broker Award; Best Forex Trading Platform of the Year and Best Mobile App 2022; Rated as Global Forex Broker of the Year 2022; Best Forex service provider.
Products traded on the XM exchange
What is XM? How many exchanges are there? Currently, XM Global has more than 1,000 reduced trading exchanges and is divided into 8 different groups. Specifically:
- Forex: There are more than 50 currency pairs, including majors, minors, and exotics.
- Commodities: CFD trading is available with 8 types of commodities and agricultural products such as Wheat flour, coffee, corn, sugar, soybeans,…
- Energy: There are 5 codes including oil and natural gas.
- Precious metals: Gold, silver.
- Stock CFDs: There are more than 1180 stock codes.
- Stocks: There are more than 100 types of stocks and are mainly traded on Share accounts.
- Stock index: Includes 14 cash indexes, 10 futures indexes, and 5 dividend indexes.
- Cryptocurrencies: Trade CFDs with 31 different digital currencies such as ETH, BTC, SUSHI, SOL, LINK,…
XM Global trading platform
Currently, XM Global provides the two most popular trading platforms today: MT4 and MT5. Specifically:
MT4 trading platform on XM Global
MT4 or MetaTrader 4 is a familiar trading platform for all investors around the world. This is a product developed by the MetaQuotes team in 2005. To date, it is still the most popular platform.
Investors can directly access XM Global’s website to trade at Webtrader. Or simply install the application on your phone, PC, iPad, or Macbook.
MT5 trading platform on XM Global
This is an improved platform compared to the previous version. MT5 will have many improvements compared to the previous version. Bringing users the best experience when making transactions.
Similar to the XM MT4 platform, investors can place orders right on the website without downloading the app. Or install it on your phone, PC, Mac, or iPad to conveniently monitor the market at any time.
What is XM? What types of XM accounts are there?
Surely by now, you already know what is XM. So specifically, what types of accounts will there be for traders’ XM account registration? Currently, XM Global is offering 5 different types of trading accounts. Details of each account type will be analyzed below:
| Account type | Micro | Standard | SWAP free account | Ultra Low | Share |
| Minimum deposit | 5 USD | 5 USD | 5 USD | 5 USD | 10.000 USD |
| Lever | 1:1000 | 1:1000 | 1:1000 | 1:1000 | No leverage |
| Spread | From 1 pip | From 1 pip | From 1 pip | From 0.6 pips | Depending on the exchange rate |
| Commission | Are not | Are not | Are not | Are not | Have |
| Minimum lot | 0.1 lot | 0.01 lot | 0.01 – 0.1 lot | 0.01 – 0.1 lot | 1 lot |
| Lot limit per order | 100 lot | 50 lot | 50 – 100 lot | 50 – 100 lot | Depends on each stock |
| Maximum pending orders | 300 | 300 | 300 | 300 | 50 |
XM Global exchange fees
When participating in trading on XM, investors need to pay attention to the following 3 types of fees:
Overnight fees on XM Global
Overnight fees will apply from Monday to Friday and do not include Saturday and Sunday. On Wednesdays, overnight fees will be charged 3 times higher than normal days.
XM Forex platform spread
The platform is considered to have small spreads for all account types. Specifically:
- Microm Standard accounts and Swap-free accounts will have floating spreads from 1 pip.
- Ultra Low accounts will calculate spreads from 0.6 pips.
- Share accounts will have spreads depending on each stock code.
Commission
You will only be charged commission fees if you sign up for a Share account. For the remaining accounts, XM Global will not collect any commission fees.
>>>See more: The most detailed instructions for login XM for traders
Summary of attractive XM promotional programs
Unlike other trading exchanges, XM launches many attractive promotions. Representative:
XM promotion program gives 30 USD to new traders
XM bonus 30$ as a program applied to investors who open their first real account and apply to new customers.
- You can receive rewards without depositing money into your account.
- All profits earned while trading can be withdrawn.
- Bonuses will be added automatically to your account without registration.
50% deposit bonus up to $500
After learning about What is XM? you will know the promotion program. When participating in depositing money into the XM exchange, the program will automatically apply. The minimum deposit amount is 5% and you will receive an additional 50% of the deposit amount. When the amount is from 2000$ or more, a 20% discount will be added.
For example: Deposit 2000$, bonus = 50% on 1000$ + 20% on 1000$.
Get $35 when you refer a friend
Invite more friends to trade right on XM Global and you will receive attractive bonuses. Specifically:
- Receive $25 when you successfully refer 1 – 15 friends.
- Receive $30 when you successfully refer 16 – 30 friends.
- Receive $35 when you successfully refer 30 or more friends.
>>>See more: Trade smart with XM Bonus 30 for forex traders!
Conclude
Based on the information MForex shared above, surely readers can find the answer for themselves What is XM? It can be affirmed that this is a reputable and quality trading exchange that investors should not ignore. Not only do you participate in trading, but you also have the opportunity to receive a bonus of up to $500. Quickly register an account today to not miss the opportunity to apply for attractive promotions.
FAQ
Is the XM scam information true?
ARE NOT. This is completely false information and has no clear basis. As shared above, XM owns many certificates from reputable organizations around the world. Not only that, he also received many great awards. Therefore, investors can safely participate in transactions here without worrying about being scammed.
What platforms does XM provide?
Currently, two famous platforms are being provided by XM: MT4 and MT5.
XM is the trading exchange of which country?
This is a product developed and established by XM Global Limited. The specific address at Suite 404, The Matalon, Coney Drive, Belize City, Central American country of Belize.
