XM Forex Broker review

Trading ideas are a new hit at XM, since it is one of the most recent extensions to the website and trading platform. Trading ideas give traders the idea of where to invest next, showing you different symbols, what was the last direction they moved in (up or down), and when did the last position take place. With the mobile trading platform, you will be able to put alerts on your cellular device, which is considered easier than that of the desktop trading platform option. With XM web trading platform, there is a two-step verification process, for security measures, in order to login on the website where you can deposit and withdraw funds.

The website is jam-packed with content to give traders the most assistance they could ask for on their journey. All the major indices are available, but with just three different US indices, there are better selections elsewhere. After a 90 day dormant period an inactivity chart is levied at $5 per month (you all lose all bonuses or promotional credits). We consider $5 per month to be low compared to competitors. In other words, opening a trade with the Micro account, a 1 Lot position on EUR/USD gives you exposure to $0.1 per pip (or 10 cents per pip) movement.

XM nullified my profits and closed my account for arbitrage after 1 trade

The education section with XM involves all of the material starting from the origin of the currency pairs and the great history, dating back to World War II. Besides this, there is information regarding trading tools, nets, and the statistics that are available on the site. You can also receive 20% up to $4,500 bonus deposit, or any other equivalent currency. The good news is that the promotion is active for any amount of deposit. The promotion is not valid for the XM Ultra-Low account only.

Interestingly, XM brands are all acting as principal dealers in all their trade executions and do not offer re-quoting in all their trading account types. In essence, https://traderoom.info/crossing-3-sliding-averages-simple-forex-strategy/ XM brands can afford to offer low spreads during particular market conditions. XM has extensive experience and offers support in more than 30 languages.

CFD Trading

We believe that XM’s spreads are reasonable but not as competitive as some rival brokers. XM is a group of brokers operating in jurisdictions around the world under the umbrella of the parent company Trading Point of Financial Instruments Ltd. The company was founded in 2009 in just over 11 years it has grown to have had over 3.5 million clients from 196 countries all over the world.

• This indicates that you can create an open account without any fiscal accountability.
• This means that the spread (the difference between buying and selling prices) is always the same.
• In a nutshell, wire transfers are traditional methods for transferring funds between banks throughout the world.
• Furthermore, there are trade idea and technical summary sections, alongside the economic calendar.

XM currently has more than 300 professionals, each of whom has long-year experiences within the financial industry. XM provides some flexibility when it comes to placing orders. While online orders will form the bulk of transactions, should your online system go down, XM gives the option of providing order by phone, which may be useful in times of emergency. When trading with XM, your positions remain open until they can be filled including pending orders and you can have a maximum of 200 orders open at one time.

Choose the best account type for you

In addition to providing excellent support, I am impressed with the trading conditions you can get access to for a small deposit of just $5. XM Group offers a no re-quote and no rejections policy with 99.35% of trades being executed within 1 second. Their business model is built around the belief that execution is everything when trading. From my experience, execution can play a big part in your trading results, especially if using a scalping strategy. In terms of execution speeds, comparable brokers include IC Markets.

I think it is important to conduct some form of fundamental analysis, rather than relying solely on market analysis with technical indicators. I like to combine both of them along with price action patterns for a more in-depth insight into what the current market situation is. XM offers a huge variety of products so you can enjoy a great choice that meets expectations and preferences. Besides, we see dramatic growth inn instrument offering compared to previous years, adding more Cryptocurrencies and CFDs to the list. On the other hand, as we noticed XM has limited portfolio for EU clients, and outside EU clients there is no good investor protection.