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zForex Forex Penguin

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XM

Last Updated: Nov 12, 2024 @ 10:32 am

XM


A Quick Summary of XM

Founded in 2009, XM has grown into a prominent global brokerage firm, dedicated to providing a diverse range of trading solutions tailored to the needs of clients from various cultural backgrounds. The firm operates under the belief that client satisfaction is key to fostering loyalty. XM’s extensive experience in the global financial markets allows it to offer superior services in forex trading, as well as CFDs, equities, indices, metals, and energies. The broker is renowned for its commitment to transparency and fairness, ensuring that clients receive the best execution and trading conditions.

🕵 Broker TypeMM
📌 RegulatedASIC (Australia), CySEC (Cyprus), DFSA (United Arab Emirates), FSC (Belize), FSCA (South Africa)
💰 Min Deposit$5
💹 EUR/USD Spread0.8 Pip
📈 Demo AccountYes
💱 Base CurrenciesAUD, CAD, CHF, EUR, GBP, HUF, JPY, NZD, PLN, RUB, SGD, USD, ZAR
📊 PlatformsMT4, MT5, Mobile, Proprietary
, Web
💎 AssetsAlgriculture, Commodities, Cryptos, Energies, Indices, Forex, Metals, Real Stocks
, Stock CFDs
📉 Hedging AllowedYes

XM Broker Details

Broker Contacts

Email Icon
Email
support@xm.com
Phone Icon
Phone
+501 223-6696
+501 227-9421
Chat Support Icon
Chat Support
Live Chat Available Whatsapp Available Telegram Available
Social Media Icon
Social Media
Facebook Twitter LinkedIn Instagram Telegram Channel Youtube

Company Profile

Company Icon
Company Name
XM Group
Year Icon
Year Founded
2009
Headquarter Icon
Headquarter
Belize City, Belize | Limassol, Cyprus | Sydney, Australia
Regulated Icon
Regulated
ASIC (Australia), CySEC (Cyprus), DFSA (United Arab Emirates), FSC (Belize), FSCA (South Africa)
Country Icon
Countries Not Accepted
Canada (CA), Iran (IR), Israel (IL), United States (US)
Broker Type Icon
Broker Type
Market Maker (MM)

Trading Conditions

Demo Account: Yes
Minimum Deposit: $5
Minimum Withdrawal: $5
Maximum Leverage: 1:1000
Average Spread EUR/USD: 0.8 Pip
EA/Robotrading: Yes
Base Currency: AUD, CAD, CHF, EUR, GBP, HUF, JPY, NZD, PLN, RUB, SGD, USD, ZAR
Hedging Allowed: Yes
Scalping Allowed: Yes
Negative Balance Protection: Yes
Swap Free/Islamic Account: Yes
Social Copy Trading: Yes
Trading Instrument Icon
Available Trading Instruments
Algriculture CFDs, Commodities CFDs, Cryptocurrencies, Energies CFDs, Equity Indices CFDs, Forex Pairs CFDs, Precious Metals CFDs, Real Stocks, Stock CFDs
Payment Processor Icon
Available Payment Processors
Bank Cards, Bank Wire, FasaPay, Neteller, Skrill, WebMoney
Trading Platform Icon
Available Trading Platforms
MetaTrader 4 (MT4), MetaTrader 5 (MT5), Mobile Platform, Proprietary Platform, Web Platform
Broker Notes Icon
Broker Remarks

For the 1:888 leverage: This Leverage does not apply to all the entities of XM Group. Leverage depends on the financial instrument traded.

➤ Why Choose XM?

  • Cultural Diversity: XM embraces a multicultural approach, serving a global clientele with respect for various cultural, national, ethnic, and religious backgrounds.
  • Technological Advancement: The broker continuously updates its systems to stay at the forefront of trading technology, ensuring that clients have access to cutting-edge tools and platforms.
  • Client-Centric Philosophy: By focusing on client satisfaction, XM has built a strong reputation in the industry, offering tight spreads and no re-quotes to enhance the trading experience.

Pros and Cons

➤ Awards and Recognition

XM has consistently been recognized for its excellence in service and performance within the forex industry. Some of the most notable awards include:

XM Broker Regulations

XM is regulated by several reputable financial authorities, providing an added layer of security for traders:

  • ASIC: The Australian Securities and Investments Commission oversees XM’s operations in Australia.
  • CySEC: The Cyprus Securities and Exchange Commission regulates XM in Cyprus, ensuring compliance with EU financial standards.
  • FSC: XM is also licensed by the Financial Services Commission in Belize, which allows it to operate in international markets.
  • DFSA: The Dubai Financial Services Authority regulates XM’s operations in the UAE, adhering to strict compliance protocols.
  • FSCA: In South Africa, XM is regulated by the Financial Sector Conduct Authority, offering protection to local traders.

Trading Instruments with XM

XM provides a comprehensive suite of trading instruments, allowing clients to engage in a variety of markets. Here’s a breakdown:

✦ Forex Trading

  • Pairs Available: Over 50 currency pairs, including majors, crosses, and exotics.
  • Leverage: Up to 1:1000, enabling traders to maximize their positions.
  • Trading Hours: Available 24/5 with zero swap on Ultra Low accounts.

✦ Cryptocurrencies

  • Access: Trade popular cryptocurrencies 24/7 with zero commissions.
  • Flexibility: Opportunities to go long or short based on market trends.

✦ Stocks Derivatives

  • Market Access: Direct access to global equity markets without commissions.
  • Portfolio Diversification: Enables speculation on both market uptrends and downtrends.

✦ Turbo Stocks

  • Leverage: Up to 200:1 on popular stocks, providing substantial trading power.
  • Intraday Trading: Focus on volatile movements for short-term gains.

✦ Commodities

  • Diverse Options: Trade key commodities without holding the underlying asset.
  • Market Exposure: Instant access to global economies with competitive pricing.

✦ Equity Indices

  • Access to Markets: Speculate on major indices with leverage up to 500:1.
  • Cost-Effective: Direct access to market movements without extra fees.

✦ Thematic Indices

  • Innovative Trading: Exposure to structural themes and trends in technology and other sectors.
  • Leverage: Up to 50:1, facilitating diversification in portfolios.

✦ Precious Metals

  • Trading Flexibility: Gold, silver, and other metals can be traded with no re-quotes.
  • Investment Alternative: Attractive option alongside forex trading.

✦ Energies

  • Volatile Trading: Engage with actively traded commodities like oil.
  • Low Margin Requirements: Trade with margins starting as low as $5.

XM Broker Platforms

XM offers a comprehensive range of trading platforms designed to meet the diverse needs of traders, from beginners to experienced professionals. The key platforms include:

1. MetaTrader 4 (MT4)

  • Popularity: One of the most widely used trading platforms globally.
    • User-Friendly Interface: Easy navigation for all skill levels.
    • Advanced Charting Tools: Multiple chart types and indicators for technical analysis.
    • Expert Advisors (EAs): Supports automated trading through customizable algorithms.
    • Mobile Compatibility: Available on iOS and Android for trading on the go.

2. MetaTrader 5 (MT5)

  • Enhanced Capabilities: An upgrade from MT4, offering additional features.
    • Broader Asset Classes: Includes forex, stocks, commodities, and more.
    • Improved Analytical Tools: More indicators and graphical tools for in-depth analysis.
    • Economic Calendar: Helps traders stay updated on market-impacting events.
    • Multi-Account Management: Facilitates managing several accounts from a single interface.

3. XM WebTrader

  • Accessibility: A browser-based platform that eliminates the need for downloads.
    • Instant Access: Trade from any device with an internet connection.
    • Real-Time Quotes: Provides live market data for quick decision-making.
    • Simplified Design: User-friendly interface for easy navigation.

4. XM Mobile App

  • On-the-Go Trading: Ideal for traders who prefer mobile access.
    • Full Account Management: Manage accounts, make deposits, and monitor trades directly from the app.
    • Custom Alerts: Set notifications for important market movements.

How to Open an Account with XM: A Step-by-Step Guide

Opening an account with XM is a straightforward process designed to be user-friendly. Here’s a detailed guide to help you navigate through it seamlessly.

Step 1: Visit the XM Website

  • Go to the official XM website.
  • It will automatically direct you to the right regional entity based on your location.

Step 2: Click on “Open An Account”

  • Find and click the “Open An Account” button on the homepage to access the registration form..

Step 3: Fill Out the Registration Form

  • Choose your country of residence (e.g., Philippines).
  • Enter your email address and create a secure password.
  • (Optional) Enter a partner code if you have one.
  • Click “Register” to submit.

Step 4: Verify Your Identity

  • After submitting the registration form, you will receive a confirmation email.
  • Click the link in the email to verify your address and activate your account.
  • Verify your account now by clicking the “Verify Now” button.

 

  • Fill in your personal details:
    • First Name
    • Middle Name (Optional)
    • Last Name
    • Date of Birth
    • Phone Number
    • Click “Continue.”

  • Add More Profile Details
    • Enter your full address, city, street number, and postal code.
    • Click “Previous Step” to review or proceed to “Add Financial Details.”

  • Investor Profile
    • Answer whether you’ve had forex education or traded derivatives like forex or CFDs.
    • Click “Previous Step” if needed, or continue.

  • Submit Required Documents
    • Upload a photo of your ID (passport or ID card) and a selfie for verification.
    • Click “Start Verification” to submit your documents.

Step 5: Fund Your Account

  • Navigate to the “Funds” or “Deposit” section in the members’ area.
  • Choose your preferred deposit method.
  • Complete the transaction.

Step 6: Start Trading

  • Once your account is funded, you can start trading.
  • Download the XM trading platforms (MT4 or MT5) or use the XM trading app for mobile devices.
  • Familiarize yourself with the platform features and available trading tools.

Additional Tips

  • Demo Account: If you’re new to trading, consider opening a demo account first. This allows you to practice trading without risking real money.
  • Customer Support: If you encounter any issues during the registration process, XM’s customer support is available 24/7 via live chat, email, or phone.

Account Types

XM offers a range of trading accounts designed to suit various trading styles and preferences:

Deposits and Withdrawals

✦ Payment Methods:

  • Credit and debit cards
  • Bank transfers
  • E-wallets (FasaPay, Neteller, Skrill, WebMoney)

✦ Minimum Deposit/Withdrawal:

  • Shares account: $10,000
  • All other account types: $5

✦ Withdrawal Flexibility:

  • Verified accounts can request withdrawals anytime.

✦ Processing Time:

  • Instant processing; funds received immediately or on the same day.
  • Bank wire, credit, or debit card withdrawals take 2-5 business days.

Customer Support

XM places a strong emphasis on customer support, offering various channels for assistance:

  • Email Support: Clients can reach out to support@xm.com for inquiries.
  • Phone Support: Available at +501 223-6696 or +501 227-9421.
  • Live Chat: Access 24/7 for immediate assistance.
  • WhatsApp
  • Telegram
  • Help Center: A comprehensive resource for FAQs and trading support.

Address: Suite 101, 63 Eve Street, Belize City, Belize

XM’s commitment to providing excellent customer service is evident in its availability and the variety of channels offered for support.

Risk Warning

A clear risk warning on a broker’s website is a good safety indicator. For XM Global Limited, you can find their risk warning in the footer of their site.

Prohibited Countries

XM maintains compliance with international regulations and does not provide services to residents of certain jurisdictions. Notable restricted regions include:

  • United States
  • Canada
  • Israel
  • Iran

This limitation is essential for maintaining regulatory standards and ensuring compliance with local laws.

Conclusion and Key Takeaways

XM Broker stands out in 2024 for its wide array of trading instruments, robust educational resources, and excellent customer support. Its regulatory compliance across multiple jurisdictions enhances its credibility. While it has some limitations regarding geographical availability and higher standard account spreads, the overall trading experience is enhanced by competitive features like zero deposit fees and flexible trading options. XM is a solid choice for both new and experienced traders looking for a reliable broker.


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5 thoughts on “XM”

  1. In terms of trading, im not sure if they are the best or not. But in terms of analytical information, they are second to none. Trading Ideas and XM Research sections are a must read.

    Reply
  2. I’m interested in trading with leverage. And it seems to me that this should be obvious.
    Trading assets such as currency pairs is simply imposible without leverage.
    Trader should have a huge margin to get at least a small profit.
    Therefore, for me, the greater leverage, the better.
    And this broker has nice leverage size. By the way, spreads are also good.

    Reply
  3. Yea they have good prices and different accounts for needs but what I like is different. All these competitions for demo, it just shows how they care about their clients and provide various opportunities for beginner traders, I wish I had these opportunities when I used to learn trading in my old days 😀

    Reply
  4. I trade here cryptos mainly and should note that conditions align with what I need. Mainly, props to the account types system, where are accounts with fascinating trading terms, but anyway.
    The list of cryptos is very extensive, altcoins, memcons – everything is here. I advise you to choose MT5 for trading cryptos, cuz some of them aren’t available on MT4, like Shiba, Mana, Dash and so on. Swaps are okayish, for instance if you trade hyping Doge, then long and short ones are ~10 points.
    Leverage size fully correlates with my risk management strategy, so it’s good for me.

    Reply

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