| XM FOREX BROKER | 100% BONUS UP TO $5000 |
About XM
Formerly known as XEMarkets, XM is the trading name of Cyprus-based Trading Point Holdings Lld. It is regulated by CySec, FSP in New Zealand, ASIC in Australia and FCA in the UK. Traders and investors can access forex trading, CFD (Contract for Difference) trading, equity indices, energies, and precious metals at XM. XM is considered to be part of the next generation of forx brokers for all online forex and commodity trading. It offers traders a wide variety of progressive features for forex trading, CFD trading, stock indices, energies and precious metals. What sets XM apart from others is that there are no rejections of trading orders or re-quotes, no hidden commissions or fees, and orders are executed within a second at a rate of 99.35%.
Showcasing impressive statistics, the potency of XM as a forex trading and CFD trading power is becoming clearer by the day. With a rising profile, should XM now be on your radar? Find out by reading our in-depth review below!
| XM FOREX BROKER | 100% BONUS UP TO $5000 |
Accounts
XM has two types of accounts on offer. Their Micro trading account is suitable for beginning traders who wish to keep a relatively low level of risk while still being able to generate profits. For the more experienced or professional trader, the Standard account is suitable for those with more in-depth knowledge of the financial markets. The contract size for the Micro account is 1000, with leverage of 1:1 to 1:888 ($5 to $20, 000). The Standard account has a contract size of 100,000 with the same level of leverage as the Micro account.
A minimum deposit of $5 is required for both accounts, and a spread of one pip applies to all major pairs. There is a maximum open/pending order of 200 positions. Traders who keep a minimum amount of $5,000 (or equivalent currency) are able to request a free VPS from the Members area at any given time, as long as they trade a minimum of five round turn lots each month.
To get used to trading, there are free forex trading demo accounts available for both account types, with each having access to the MetaTrader4 trading platform. These demo accounts can be used by traders for as long as they wish; however, A forex trading demo account that have not been used within 120 days from the last login will be closed. Regardless, a new forex trading demo account can be opened at any time. Also, new to XM are Forex Islamic accounts, which are swap-free accounts. These mean no swap or rollover interest on overnight positions for traders following the Islamic faith. Islamic forex trading accounts can be opened in either Micro or Standard format.
| XM FOREX BROKER | 100% BONUS UP TO $5000 |
Bonuses and Promotions
There are some great bonuses on offer from XM. When this review was being written, XM offered a 100% bonus up to $5,000 for all new deposits. The offer was for a limited time, and it came with an entry to the XM Loyalty Program, which allows traders to earn infinite cash rewards and credit bonuses. The also offer a £25 no deposit bonus for UK users that is well worth taking note of. The offer also includes free VPS services, such being able to use EA’s, access from any location 24/7, greater trade execution time. and fibre optic connectivity. XM also offers seasonal bonuses several times a year, as well as members-only bonuses that are by invitation only.
| XM FOREX BROKER | 100% BONUS UP TO $5000 |
Platform Features
XM has a long history of accomplishments it is very proud of. Its ‘Milestones in our Corporate History’ chart dates all the way back to 2011, and highlights their background of corporate involvement and trustworthiness. The XM forex trading team has travelled to more than 120 cities across the globe, as a means to meet and interact with their clients on a face-to-face basis. They have also hosted over 100 trading seminars to help educate traders and allow them to make better trading decisions. The results of these activities has aided XM in getting the highest client retention levels of any forex brokers anywhere. In fact, XM is proud to say that it has over 300,000 real accounts opened from 196 countries and more than 150 million trades completed with no re-quotes or rejects ever. You can choose from more than 100 financial instruments, and all without commissions or hidden fees.
| XM FOREX BROKER | 100% BONUS UP TO $5000 |
Education
XM’s Learning Centre allows account holders to benefit from foex trading webinars run weekly in 13 different languages, such as Arabic, Bengali, Indonesian, and Polish, with conducted by 18 expert instructors whose photos are presented on the slide. There is a huge list of available video tutorials that covered topics as basic as how to open a forex trading account to how to use the Mobile Trader app on the MT4 Droid pad.
In addition to listing the workshops and seminars that have already been conducted, you’ll also see a list of all upcoming XM forex trading workshops and seminars. At the time of writing this review of XM, the schedule looks to be particularly loaded. XM’s economic calendar lists any future events taking place in markets around the world. There are also various market reviews, a new report dedicated to forex, and you’ll also see various tips on technical analysis on a daily basis. If you have any questions, XM has a very extensive and useful FAQ section for good measure.
| XM FOREX BROKER | 100% BONUS UP TO $5000 |
Deposits and Withdrawals
There is no minimum deposit required at XM; however, the system dictates that a minimum of $5 is required for any electronic transfer of funds, such as Skrill, Neteller, credit cards, and bank wire transfers. XM also accepts Western Union payments and moneygrams under set circumstances. Traders can also make withdrawals with the same methods. The deposit and withdrawal options are listed side-by-side on the website. A trader only needs to click on ‘Request a Withdrawal’ or ‘Make a Deposit’ to make a transaction.
| XM FOREX BROKER | 100% BONUS UP TO $5000 |
Customer Support
XM’s customer support desk operates 24 hours a day from Monday to Friday. Customer support representatives speak English, Greek, Japanese, Chinese, Bahasa Malay, Bahasa Indonesian, Hungarian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Korean, Portuguese, Czech, Slovakian, Bulgarian, Romanian, and Dutch. You can also contact a representative in different department at a number of international locations using email or phone. Live chat is also available to those who need instantaneous support.
| XM FOREX BROKER | 100% BONUS UP TO $5000 |
XM Final Thoughts
XM is definitely one of the forex brokers leaders in online contract for difference and forex trading, as it is committed to serving the best interests of its clients. XM has been recognised by the UK-based organisation, Investors in People for its efforts in helping their clients achieve their financial goals. Overall, XM really is a big time name within the world forex trading that’s for sure.
| XM FOREX BROKER | 100% BONUS UP TO $5000 |