Introduction
XM is a well-known online forex and CFD broker that has been operating in the financial market for over a decade. The broker has a global reach, offering its services to clients in over 196 countries around the world. In this article, we will discuss the opinions and reviews of traders and experts about the broker XM.
Background
XM was founded in 2009 and is regulated by major financial authorities such as the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Financial Conduct Authority (FCA) in the UK. The broker offers a wide range of financial instruments, including forex, stocks, commodities, and indices.
Trading Platforms
XM offers two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are widely used by traders and offer advanced charting tools, technical indicators, and automated trading capabilities. The broker also provides a mobile trading app for iOS and Android devices, allowing traders to trade on the go.
Trading Accounts
XM offers three types of trading accounts: Micro, Standard, and XM Zero. The Micro account is suitable for beginner traders with a minimum deposit of $5, while the Standard account requires a minimum deposit of $50. The XM Zero account is designed for advanced traders with tight spreads starting from 0 pips.
Customer Support
XM provides 24/5 customer support through live chat, email, and phone. The broker also offers multilingual support in over 30 languages, making it easier for traders to communicate with the support team. Traders can also access the broker’s extensive knowledge base and educational resources.
Opinions and Reviews
XM has received positive reviews from traders and experts in the financial industry. Many traders appreciate the broker’s low minimum deposit requirement and tight spreads. The broker’s customer support has also been praised for its prompt and helpful responses. However, some traders have complained about the withdrawal process, which can take longer than expected.
Regulation and Safety
XM is a regulated broker, which means that it must adhere to strict financial regulations to ensure the safety of clients’ funds. The broker uses SSL encryption to protect sensitive information and maintains segregated accounts to keep clients’ funds separate from the broker’s operating funds.
Education and Resources
XM offers a wide range of educational resources to help traders improve their trading skills. The broker provides free webinars, video tutorials, e-books, and market analysis. Traders can also access the broker’s economic calendar and daily market news to stay up to date on the latest market trends.
Conclusion
XM is a reputable online forex and CFD broker that offers a range of financial instruments and trading platforms. The broker has a global reach and provides excellent customer support in multiple languages. While some traders have complained about the withdrawal process, XM has received positive reviews from traders and experts in the financial industry. Overall, XM is a reliable broker that can meet the needs of both beginner and advanced traders.
