XM Review: Forex and CFD Broker 2024

Founded in 2009, XM is a well-known Forex and CFD broker. The company’s parent organization, Trading Point of Financial Instruments Ltd., is headquartered in Cyprus.
XM focuses on delivering online trading solutions and specializes in a variety of financial products such as currency pairs, stock indexes, precious metals, and energy commodities. Read on this XM review to know more!

What is XM?

XM is a worldwide recognized forex and CFD broker that has served millions of customers since 2009. With a client base spanning over 190 countries, XM has established a strong reputation in the trading sector. The broker is noted for charging cheap rates on over 1,000 instruments and is regulated by a number of financial agencies, including the ASIC and CySEC.

The platform gives traders access to a diverse set of currency pairs, including majors, minors, and emerging markets. XM also provides easy and quick account opening, as well as a variety of educational resources to help both new and seasoned traders enhance their knowledge and skills.

XM Review: Types of Trading Platforms

1. MetaTrader 4 (MT4)

MT4 is a popular platform noted for its easy-to-use interface, excellent charting capabilities, and huge library of technical analysis tools. It enables traders to automate their methods with Expert Advisors (EAs) and offers access to a vast marketplace of trading indicators and add-ons.

2. Meta Trader 5 (MT5)

MT5 is the successor to MT4, with more features and better performance. It has improved charting capabilities, new order kinds, and an integrated economic calendar. MT5 also offers hedging, making it suited for traders that apply varied trading techniques.

3. WebTrader

XM’s WebTrader is a browser-based platform that enables traders to view and trade their accounts straight from their web browser. It provides a user-friendly design, real-time quotations, and a variety of trading tools. WebTrader is compatible with all major web browsers, making it ideal for traders who like to trade on-the-go without having to download or install any software.

XM Review: Account Types

1. Micro Account

The XM Micro Account is ideal for beginners because it allows for trading in micro lots. Users can trade with a low minimum deposit, up to 1:1000 leverage, and more than 1000 products. This account type is excellent for those who are new to trading or have little finances and prefer to trade in smaller quantities.

2. Standard Account

The XM Standard Account is intended for experienced traders. Standard lot sizes, leverage up to 1:1000, and no-commission trading are all options. This account allows traders who prefer traditional trading settings access to the same instruments as the Micro Account.

3. XM Ultra-Low Account

The XM Ultra-Low Account is intended for traders aiming for reduced spreads. It offers spreads starting at 0.6 pips, no costs, and leverage of up to 1:1000. This account type is available in Micro and Standard lot sizes, making it appropriate for both low- and high-volume traders that prefer narrow spreads.

4. Shares Account

XM’s Shares Account is designed for trading individual equities. It enables for direct access to global stock markets without the need of debt, as well as actual ownership of stock. This commission-based account is ideal for traders looking for long-term investments in certain equities markets.

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XM Review: Fees

• XM does not charge deposit or withdrawal fees.
• If an account remains inactive for one year, it will incur a $15 maintenance fee and a recurring monthly charge of $5.
• When estimating the costs of holding a position open overnight with XM, traders must consider various criteria, including the financial instrument being traded, whether it is long or short, and the amount of money involved.
  These variables can have an effect on both trading expenses and profits. Traders must keep these details in mind when making deals on XM. Here are some common costs for keeping positions open overnight on their platform:

Leverage Ratios for Different Instruments

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XM Bonuses and Promotions

• XM provides a number of promotions and incentives to attract new traders while also rewarding existing customers and traders.
• Receive a $30 bonus with no deposit required. A 50% first bonus is followed by a 20% deposit bonus of up to $4,000.
• Existing customers can participate in “Trade and Win” contests and events.
• Qualifying traders can deposit and withdraw up to $200 without incurring any fees using major credit cards, electronic payment providers, or bank wire transfers.

XM Customer Support

XM is devoted to delivering outstanding customer support and offers traders a variety of avenues to seek assistance:

• Traders can get live chat support directly from XM’s website. The live chat tool enables for quick and efficient communication with support representatives, allowing traders to receive immediate assistance with their questions.
• Traders can contact XM’s support team via email with more specific questions or requests. Email assistance ensures that traders’ questions are answered in a timely way.
• XM offers phone help to traders who prefer direct connection. XM’s dedicated phone lines allow traders to chat with support experts and receive tailored guidance. (501 223-6696 ;
   +501 227-9421 )

XM Affiliate and Partnership Program

• The XM affiliate program is well-known in the forex trading sector, offering commissions of up to $25 per lot.
• Affiliates can also earn 10% on second-tier referrals, providing a range of revenue streams from revenue sharing, CPA, and hybrid commission models.
• The program provides a number of marketing tools, like as banners, landing pages, and links, to help with the effective promotion of XM’s services. Affiliates now have access to a comprehensive reporting system that gives real-time information on commissions collected, boosting transparency and accountability.

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Conclusion

To summarize, XM is a trustworthy forex broker that prioritizes the satisfaction of clients and is committed to offering a secure and transparent trading environment. With a diverse choice of account types, access to popular trading platforms, thorough customer service, and numerous instructional resources, XM caters to both novice and expert traders. The company’s solid regulatory framework and transparent fee structure add to its appeal. Overall, XM is a solid choice for traders seeking a reputable broker with a variety of features and bonuses.

Frequently Asked Questions