XM is considered one of the most reputable and popular brokers globally today. However, many users still have many concerns about this exchange. Ask many questions about whether the XM Forex broker is reputable or not. The article below from MForex will provide readers with detailed information about XM Broker. Let’s start finding out!
Detailed overview of XM broker
Is the XM Forex broker reputable?
When participating in a forex exchange, reputation is a top priority for consumers. Here are some factors to consider:
Origin of XM Broker
XM Broker is a forex exchange established in 2009. It is a foreign exchange brokerage headquartered in Limassol, Cyprus. Besides, they also have international offices in many locations such as London, Athens, and Sydney.
With more than 22 years of operation, XM has achieved the position of one of the world’s leading Forex exchanges. All thanks to the special construction and development strategy. The following impressive numbers are proof of this:
- XM currently serves more than 5,000,000 customers from 196 different countries.
- More than 2.4 billion transactions have been executed without any requotes or rejections.
- The average daily trading volume is about $15 billion.
- The exchange supports more than 25 safe payment methods.
- Supports over 30 languages and offers over 10 fully featured trading platforms.
- Partnerships have been built in more than 120 cities worldwide.
- The official website attracts more than 5 million monthly visits.
License to operate XM forex broker
Not only for XM but also for any other Forex broker. Being regulated by trusted financial authorities globally is always an extremely important factor in judging their reputation.
Currently, XM Broker is the trade name of Trading Point Holdings Ltd. It is the parent company of subsidiaries operating in many countries. Include:
- Trading Points of Financial Instruments UK Ltd (XM UK). It is authorized and regulated in the UK by the Financial Conduct Authority (FCA).
- Trading Points of Financial Instruments Pty Ltd (XM Australia). It is licensed for financial services in Australia by the Australian Securities and Investments Commission (ASIC).
- XM Global Limited (XM Global) is regulated by the International Financial Services Commission (IFSC).
- Trading Point of Financial Instruments Ltd (XM Cyprus) is regulated by the Cyprus Securities and Exchange Commission (CySEC). And also registered by FCA.
These regulators are all the most reputable financial regulators in the world. With strict regulations that brokers like XM must follow.
These authorities require Broker XM to keep client assets segregated in separate accounts. Held at leading financial institutions (Segregated Account). This ensures that XM is not allowed to use client assets for other purposes.
See more: The most detailed instructions for login XM for trader
Broker XM’s guarantee policy for customers
XM Broker supports live chat functions in more than 30 different languages. This includes Vietnamese. This helps traders in Vietnam easily look up information. Or get your questions answered quickly.
The working hours of the Vietnamese support team are from 9:00 a.m. to 4:30 p.m. From Monday to Friday. To better support the Vietnamese trading community, XM has adjusted and expanded the support hours via live chat from 8 am to 7:45 pm.
After phone calls to test XM Forex broker customer support service, with the participation of many different support team members. XM highly appreciates the professionalism and dedication of this support team.
In particular, XM also provides a separate email address to best serve Vietnamese customers. If you encounter any problems, you can chat directly with Vietnamese support. Or send an email to the following address: vietnamese.support@xm.com.
Types of accounts on XM Broker
Micro XM forex broker account
This is essentially an account with a smaller specified lot size than a standard account. In which 1 lot corresponds to 1000 units. This means that 1 lot on a Micro account is equivalent to 0.01 lot for a standard account. This type of account is usually designed for new traders. To practice skills and test trading systems.
Furthermore, Micro accounts are very suitable for you to test automated trading programs (EAs) right on the real market. You don’t need to use large amounts of money to test the EA’s performance. To help you avoid taking big risks.
Micro account parameters:
- Minimum deposit: $5
- Maximum leverage: 1:1000
- Spread Type: Floating
- Spread from (pip): 1 pip
- Rose: No
- The maximum number of simultaneously open orders is: 200
- Stop out level: 20%
XM Broker Standard account
Similar to standard accounts on other exchanges, 1 lot on this account corresponds to 100,000 units. XM platform allows a minimum deposit of $5. This can be considered the lowest deposit level that a Forex trading platform can offer to traders.
XM broker spread on standard accounts starts from only 1.0 pip. There are no commissions and you are offered a very high leverage of 1:1000 (for accounts under $20,000).
This is an important advantage for professional Forex traders using automated trading programs (EAs).
Account parameters:
- Minimum deposit: $5
- Spread Type: Floating
- Maximum leverage: 1:1000
- Spread from (pip): 1 pip
- Rose: No
- Maximum number of simultaneously open orders: unknown
- Stop out level: 20%
XM Ultra Low account on the XM Forex broker platform
With an XM Ultra Low account, you will not have to pay commissions and Spreads start from only 0.6 pips. Leverage levels are still very high. Reach 1:1000 for accounts under $20,000. If you have an account over $20,000, the maximum leverage that XM offers you will range from 1:100 to 1:200.
In total, the XM Ultra Low account offers competitive costs and advantages in the Forex market.
Account parameters:
- Minimum deposit: $5
- Maximum leverage: 1:1000
- Spread Type: Floating
- Spread from (pips): 0.6 pips
- Rose: No
- Maximum number of simultaneously open orders up to 200
- Stop out level: 20%
The trading platform is available on the XM broker
MT4 on XM platform
Currently, MetaTrader is still a popular trading platform. Considered the most friendly to traders, especially with the MetaTrader 4 version. This platform provides a full range of trading tools. As indicators, EAs (Expert Advisors – automated trading programs). And advanced charts in the most intuitive, smooth, and user-friendly way.
Features on the XM MT4 platform:
- Over 1000 products including Forex, CFDs, and Futures.
- Use 1 account to access 8 trading platforms.
- Full support of EA features (automated trading/signals).
- One Click Trading (trading with one click).
- Technical analysis tools with over 50 indicators and charts.
- Supports 3 chart types: candlestick chart, line chart, and bar chart.
- There are Micro accounts available for selection.
- Ability to place opposite orders (hedge).
- VPS (Virtual Private Server) functions to support continuous transactions.
In total, XM MT4 offers a range of powerful features and tools to assist traders during their trading in the markets.
See more: Important information to know about XM Login partner
XM Broker MT5 platform
MetaTrader 5 (MT5) is a version developed after MetaTrader 4 (MT4) of the XM platform. Therefore, MT5 brings users the following outstanding features:
- More than 1000 trading products. Including stock CFDs, stock index CFDs, foreign exchange (forex) trading, and cryptocurrency CFDs. Or precious metals CFDs and energy CFDs.
- 1 login for 9 different platforms.
- Spreads start from only 0.6 pips.
- Fully featured for Expert Advisors (EA – automated trading program).
- One Click Trading.
- Supports most types of trading orders.
- With over 80 tools for technical analysis.
- Market depth for latest quotes.
- Allows placing hedge orders.
With these features, XM Broker is MetaTrader 5 opens up new opportunities and provides a powerful platform. Thanks to this, traders participate in different markets and implement more complex trading strategies.
Meta WebTrader of XM platform
With Meta WebTrader, you can use the full features of XM MT4 and MT5 in the same way as on your personal computer (PC). And it supports both real and demo accounts.
The “One Click Trading” feature is applicable for opening and closing orders. Place Stop and Limit orders. Place orders directly. Even set and adjust stop loss and take profit orders.
Why should you choose to trade on XM broker?
XM platform offers a variety of trading products
XM offers a diverse range of trading products in many different sectors. Include:
- Foreign exchange (Forex): XM offers up to 57 different currency pairs. With extremely high leverage up to 1:888, spreads start from only 0.6 pips. No commission fees for any account type.
- Stock CFDs: Traders can trade over 300 stock CFDs around the world.
- Commodities: XM Broker provides 8 main commodity products such as coffee, wheat, sugar, corn, and cocoa.
- Equity indices: There are about 30 trading products including cash indices and futures indices. This includes indices such as the S&P 500, Nasdaq 100, Dow Jones, Nikkei 225, DAX, and many others.
- Metals: XM provides 2 metal products: gold and silver. With maximum leverage up to 1:888 and spreads from only 0.3 pips for gold.
- Energy: There are 5 types of energy traded. With spreads from only 0.03 for gas and from only 0.05 for oil.
- Shares: There are 100 different types of stocks. The trading fee for US stocks is $0.04/share. With a minimum commission of $1. Trading fees for UK and German stocks are 0.1%/transaction. With minimum commissions of $9 and $5 respectively.
- Cryptocurrency (Crypto): Provides the 5 most popular cryptocurrencies: BTC, ETH, LTC, XRP and BCH.
Attractive promotions of XM Broker
XM is famous for being a generous broker and investing heavily in advertising campaigns. Sponsoring many big names and brands both inside and outside the industry.
With this vision, XM regularly organizes attractive promotions for its customers:
- The bonus of $30 when registering an XM account: This “No Deposit Trading Bonus” program means that when you register an account, you will receive a bonus of $30 without having to deposit any money. This is an offer for all new traders opening a Real Account at XM.
- 50% bonus program: With this program, you will receive an additional 50% of the value of every deposit within 24 hours after making your first deposit. The maximum bonus amount can be up to 500 USD.
Note that this bonus amount cannot be withdrawn, its main purpose is to increase the free margin in the client’s account, helping to create better conditions for trading.
Conclude
Thus, it can be seen that XM Broker has built a reputation as a reputable and trustworthy trading platform. Regulated by the world’s leading financial authorities, including CySEC, ASIC, and FCA. With this reputation and reliability, XM becomes an attractive choice for those looking to participate in the Forex and CFD markets. Hopefully, through this article from MForex, users can feel secure in choosing to trade. Wishing all traders successful transactions!
FAQ
In which country is XM headquartered?
XM is headquartered at 35, Lamprou Konstantara, Katos Polemidia, 4156 Limassol, Cyprus. Limassol is the second largest city in Cyprus and an important financial center in the Mediterranean region.
XM’s headquarters in Limassol plays an important role in managing and operating the exchange’s trading activities globally. This includes processing transactions, managing customer accounts, providing support to customers, performing market research and analysis, and performing risk management and regulatory compliance activities.
Should I participate in trading on the XM foreign exchange platform or not?
Engaging in online forex trading is a risky process and requires careful research before you decide to invest. At the same time, you also need to learn about the legal regulations related to financial transactions and online investments in your local area to ensure the legality and safety of your investment process.
Is the XM exchange considered reputable?
XM Broker is a completely trustworthy forex broker, licensed and supervised by leading reputable financial institutions in the world such as FCA, CySEC, and ASIC. Therefore, traders can safely participate in trading. Experience convenient services on this reputable foreign exchange brokerage.
