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XM Broker Review

XM is a CFD broker founded in 2009 that allows trading CFDs on approximately 1,500 instruments from 6 asset classes. XM holds 4 global licenses and is regulated by CySEC in the EU and ASIC in Australia, among others. XM stands out with a variety of trading platforms for desktop and mobile devices as well as suitable account types for beginners to experienced traders.

 

XM Regulation and Security

XM is licensed and regulated in the European Union by CySEC with the license number 120/10 and complies with all requirements of the MIFID II Directive. This includes, among other things, the segregation of client funds in segregated accounts away from company funds, membership in the Investor Compensation Fund, and compliance with the Best Execution Policy for client orders. In addition, the company is regulated by ASIC in Australia, IFSC in Belize and DFSA in the United Arab Emirates (DIFC). The comprehensive regulation provides traders worldwide with the necessary security for their funds and transactions.

Tradable Financial Instruments at XM

XM offers its clients an extremely extensive range of tradable CFDs on financial instruments from 6 asset classes. In addition to 57 currency pairs, 14 indices, 8 commodities, 2 precious metals and 5 energy resources, traders will find around 1,300 CFDs on gloable stocks from 18 countries (CFDs on stocks are only available on the MT5 trading platform). The leverage depends on the respective instrument and ranges from 1:2 to 1:30 for retail clients according to the regulation.

Trading Platforms at XM

XM uses MetaTrader 4 (MT4) and MetaTrader 5 (MT5) from MetaQuotes, which are the most popular trading platforms worldwide. They are characterized by intuitive user interface, an enormously high selection of technical indicators, the possibility of using trading robots (Expert Advisors), an excellent tool for testing trading strategies and the MetaEditor, which allows the creation of custom indicators and trading robots. Those who choose XM as their broker because of the large selection of global stocks should choose MT5 as their platform, because CFDs can be traded on this platform on virtually all instruments offered. Those who want to focus on forex trading can also choose MT4 as a platform. This platform has the advantage that, because it has been available for much longer than the MetaTrader 5 platform, there are many more ready-made indicators and Expert Advisors available on the MQL5 website. Both platforms are available for Windows PCs and Mac computers as well as in the mobile version for smartphones and tablets with Android and iOS operating systems. Those who do not want to install a platform on their devices or perhaps want to access their positions on the go or at work can also do so via the MT4 or MT5 Webtrader.

Account Types at XM

XM offers 3 different account types to meet the needs of most traders, all of which are optionally available as Islamic accounts.

XM Micro Account

XM's Micro account is the ideal option for beginners who want to take their first steps outside of a demo account, but initially want to use only small capital. The minimum deposit is only $5, a lot in an XM Micro account is only 1,000 units and the minimum trading volume is 0.01 lot (=10 units). Thus, it is possible, for example, to open a position in the currency pair EUR/USD from a margin of only 0.33 € (0.01 lot). This makes it possible to develop a feeling for real trading with the XM Micro account even with a small capital investment. Nevertheless, you must always be aware that rash and hasty trading can lead to the loss of real money.

XM Standard Account

The Standard account at XM is similar to the XM Micro account in terms of the features it contains, but one lot in this account contains 100,000 units and the spread is slightly lower due to the higher trading volume in many instruments. The minimum deposit for the XM Standard account is also only 5 €, which seems to make little sense due to the higher minimum trading volume of 1,000 units (=33.33 € margin).

XM Zero Account

The XM Zero account basically offers the same services as the other account types at XM, however, there is no spread with this account, but a commission is due for the respective positions. This can be especially useful for those traders who usually trade with high volumes.

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Information and Training for Traders at XM

At XM traders will find a variety of useful information for daily trading. In addition to news, an overview of market events and an economic calendar, traders can also find current trading ideas and daily technical analyses on various assets on XM TV. Used correctly, this offer provides real added value for attentive traders.

Training and Education

XM offers extensive webinars, seminars and instructional videos in its learning area, the content of which provides valuable knowledge for both newcomers to online trading and experienced traders. In addition, there is the XM live training for different skill levels, where beginners can learn the basics of trading in a practical way, and where advanced traders can experience trading in real time and share or deepen their market insights in live discussions.

XM Broker Review - Conclusion

XM is one of the most proven CFD brokers on the market. The extensive range of tradable CFDs on assets from 6 asset classes, trading accounts for both beginners and experienced traders, a wide range of up-to-date information on market events and the extensive selection of payment methods for free deposits and withdrawals, including bank transfer, Skrill and Neteller, make XM an excellent choice for any type of trader who wants to find all the necessary tools for successful online trading in one place, in addition to a stable and reliable trading platform.

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