Client funds are held in bank accounts separate from those used by the company. We can say that the XM broker is safe to use as it is accessible globally and is governed by three financial authorities which they answer to. User must fully understand and accept all possible risks carried out by any operations, as well as partial or complete losses of the invested financial resources. All actions and, as a result, Retail foreign exchange trading their consequences, as well as the way of using information, service and products provided by the site must be fully borned by the user’s responsibility. The most popular account among experienced traders who know the basic nuances of this type of activity. The lowest spread is typically on the EUR/USD at 1.7 pips. Both platforms are accessible from a single login across desktop, web and mobile devices.

  • All information and data are securely encrypted when transmitted.
  • A broker that is widely regulated as XM Forex speaks a lot about its legitimacy and the safety of your funds.
  • By making our world a smaller and more global place, this automatically means that people, goods and services can travel faster and more easily.
  • They offer clients access to three types of accounts; Micro, Standard & VIP Account and clients seek to their competitive variable spreads.
  • This website uses Google Analytics, a web analytics service provided by Google, Inc. (“Google”).
  • Both the MIRCO and STANDARD accounts are available from a $5 deposit.

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Founded in 2009, xm group provides traders with the full metatrader platform suite by metaquotes software corporation. Bitcoin staged a modest recovery earlier this week, aided by news that asset management giant fidelity will be entering the crypto arena soon to buy, sell, and store prominent digital coins for its institutional clients.

XM Forex Broker Review

Both CFDs and cryptocurrencies are complex leveraged instruments and carry a high level of risk. You should carefully consider whether you understand how these instruments work and whether you can afford to take the risk of losing your money. They have a range of account currencies forex analytics to choose from including EUR, USD or ZAR, thus giving clients a much wider choice than most other brokers that South African forex traders have access to. In forex trading, minor currency pairs or crosses are all currency pairs that do not include the USD on one side.

Unlimited demo accounts are available with this broker, just not for the Micro demo platform. The Micro Account requires a $5 minimum deposit, so does the Standard Account. The XM Ultra Low Account has a minimum deposit of $50 and the Shares Account’s minimum deposit is $10,000. XM’s MT4 Multiterminal is in place for those wishing to trade multiple MT4 accounts from a single terminal. We are a broker comparison & forex education website for Kenyan traders. We have created comprehensive guides to help you get started with online forex trading. We recommend them as they are regulated by top regulators ASIC & CySEC.

Start trading the instruments of your choice on the XM MT4 and MT5, available for both PC and MAC, or on a variety of mobile devices. Alternatively, you may also want to try out the XM WebTrader, instantly accessible from Retail foreign exchange trading your browser. XM holds regular international seminars and workshops, which offer clients the opportunity to meet the firm’s representatives and learn more information on the company’s offerings and signup opportunities.

Forex Trading

However, like FP Markets, we were particularly impressed with the educational side of Exness. In terms of Educational content, FP Markets deliver a number of articles via their Trading Knowledge page. What’s more, for newer traders, the broker provides dedicated Ebooks loaded with information and a handful of video tutorials. What’s also particularly impressive is their Black and White Technical report which looks at detailed pattern structure on various markets – this is a weekly report.

The account opening process is easy, has low transaction and trading fees, awesome customer support, and a lot of great offers/bonuses for new traders. The platform will automatically convert your deposited currency into the preset base currency. To change Base Currency you will have to contact customer service. It’s very important to think carefully about the base currency of the trading account when applying.

XM Forex Broker Review

Mobile versions of MetaTrader 4 and MetaTrader 5 trading platforms were created for users to have full access to the stage at any time. The application allows trading 24/7, even if the client does not have access to a computer or laptop. The micro and standard accounts attract high spreads compared to the other brokers I trade with.

As a company that prides itself on solid customer service, their users are well-served with support available in many different languages. The platform boasts over 1.5 million clients with traders in 196 countries. The company prides itself XM Forex Broker Review on things like excellent customer service and a personalised approach for every client, no matter their investment goals. You can replenish your account and withdraw your earnings by bank transfer, as well as by Visa or Mastercard cards.

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Please note that the minimum deposit via bank transfer is $200 and takes 2-5 business days. Out of all the above-mentioned options, choose the option you prefer and click on it. You will be redirected to a page concerning the chosen method. Enter the amount you want to fund and note that funds will be converted into your chosen base currency and then click on the “Deposit” button. XM does not offer its unique cTrader or Webtrader platform unlike Pepperstone’s cTrader or XTB’s xStation5. However, it offers world-renowned MT4 & MT5 web trader that is supported via PC/MAC, smartphone and tablet.

Before opening an account you need to decide whether or not you want to practice trading or start with a full-service account to start trading in the live markets. It is important to note that, as with all brokers, traders must ensure that there are sufficient funds in their trading accounts to cover potential losses to avoid their positions being shut down. They offer a great range of products and approximately 1.5 Million investors and traders are making use of the broker’s services and adept trading solutions which also appeals to beginner traders. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. Other brokers offer more a distinct offering in their accounts, but the Micro, Standard and Zero accounts are almost identical. And finally, PayPal deposits are not currently supported, which can be problematic for some. XM offers a full-service education package on forex, ideal for those making their first steps into trading.

Deposits And Withdrawals

If we compare the same currency pair of EURUSD with Hotforex, they charge 1.2 pips per standard lot with their similar “Premium account”. For the safety of funds, XM also follows protocols which keeps the investor funds quite safe. Client’s money gets transferred to a separate client bank account. These accounts are not on balance sheets and incase of any insolvency of the company, clients’ accounts cannot be used by the broker. XM is a global forex & CFD broker that has been in the market since 2009.

Also weekly, FP Markets provides Currency Point, a video based review of the week, presented by industry expert Evan Lucas. XM comes with MT4 and MT5 as well as a MT4 Multiterminal and MT5 WebTrader. Mobile trading is also available for all platforms for iOS and Android. WebTerminal, according to Exness, is an HTML5 web app developed by the creator of MT4, making it a reliable, fast, and user-friendly web platform. All information and data are securely encrypted when transmitted.

XM Forex Broker Review

This list of brokers like XM is in order of similarity and only includes companies that accept traders from your location. Traders from certain regions are also forbidden to open an account due to licensing laws, these include Canada and the United States. XM are also offering commission and fee free withdrawals and deposits. XM also offers a free VPS service to help increase the speed of trades. They claim to eliminate downtime and are available across the globe. All withdrawals are processed in 24 hours and there are no fees to take your money out of your eWallet. In line with conventional KYC regulations, users need to provide a colour copy of an official identification document such as a passport or a driver’s license.

This broker also provides its clients three additional trading platforms, Iress ViewPoint, Iress Investor and Iress Trader. FP Markets provides its traders MetaTrader 4 and MetaTrader 5 , as well as the Iress platform, a comprehensive active trader platform. Iress offers access to share CFDs , futures CFDs, indices, commodities and Forex.

We offer a range of over 55 currency pairs and CFDs on precious metals, energies and equity indices with the most competitive spreads and with the no rejection of orders and re-quotes execution of XM. XM is a regulated Forex broker that was founded in 2009 and provides a variety of trading instruments in global markets to almost 200 countries. Account types are flexible and compatible with MT4 and 5, offering advanced tools and features, and competitive pricing.

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XM.com gives its clients the entire MetaTrader platform suite which is created by MetaQuotes. XM group or XM.com is the only place where trading meets simplicity. With access to live agents, a mobile site, and the ability to leverage trades, XM is one of the best places to amalgamate your assets and leverage them for maximum possible gain. They committed to offering affordable online trading solutions with all trading conditions disclosed and within the frameworks of regulatory bodies. XM offers leverage based on the region you are based in and the trading instruments you choose. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.