The amount of people who dive into the forex trading business every day is huge. If one has interminable trading expertise, then no one can stop his success in the forex industry unless you are trading on the right platform.
As opportunities ascend, many scams and illegal forex brokers are appearing under the cloak of professionalism.
Hence, to begin with trading, the most significant thing needed is to play out every deal of yours with a reliable and advanced Forex broker. And there comes the most common mistake a typical trader does when he or she enters the Forex market.
So today, with this XM review, I am going to share my experience on why this platform is the best Forex broker for beginners to start with.
What is XM?
At the moment, XM is leading in the industry with its easy-to-grab features and tremendous scope of opportunities. This is a platform where you can learn to trade as a beginner, link up with trusted traders, and buy and sell currencies with safety.
It has been in operation since 2009, and there is a built track record. Few are the Forex trading platforms that are operating with strong regulation.
The platform was currently owned by Trading Point of Financial Instruments UK Limited. Its parent company has got the license in Cyprus by the regulatory body, CySEC, with the license number 120/10.
In Australia, it has been regulated by ASIC with license number 443786.
Detailed Review of XM
As a competitive brokerage house, XM is operating right now with a trust of 2.5 million traders. Let’s continue the walkthrough of XM to learn more about its features and facilities.
At A Glance
XM is breaking a leg on the Forex ground. It has lots of potentialities with awards in their pocket. Like this year, XM won the title of Best FX Service Provider, Global Forex Broker of The Year, Most Trusted Asian Forex Broker, Best FX Broker for Europe 2019, and the list goes on.
But maybe you are not interested in that. Instead, you are dying to know how the platform can make your dreams come true. Well, just like my attitude. So, let’s look into the offers and features first.
Type of Trader Account
Unlike others, you will get 4 types of account access while trading on the platform – Micro, Standard, XM Ultra Low, and XM Zero account.
Opening balance of $5 for XM Micro and Standard accounts
Opening balance $50 for XM Ultra-Low accounts
XM Zero/Share/ECN type account requires $10 of the initial deposit
Leverage
The leverage of all accounts differs depending on the transactional amount. On XM, minimum leverage ratios start the same for all accounts excluding Share account. There is no leverage.
1:1 to 1:188 for $5 to $20,000
1:1 to 1:1 to 1:1200 for $20,0001 to $100,000
1:1 to 1:100 for more than $100,000 of transactions
Although previously, upon the XM Zero account, the maximum leverage was 500:1. It’s applicable for USD, JPY, or EUR currencies
Floating Spread
Here on XM, the difference between bid and asking price is tolerable completive. And, the spreads on all majors are applicable for all kinds of accounts.
As low as 1 pip for XM Micro and XM Standard accounts
As low as 0.6 pips for XM Ultra-Low accounts
As low as per underlying give-and-take for Shares accounts
Commission
Fortunately, there is no hidden commission on any accounts. But the Shares account holders have to count a little as their transaction comes with a massive risk for the platform.
Order Volume
Well, XM offers the least amount of trade volume when compared with other brokerage platforms. So, you can bet on low investments. In the case of MT4 Micro accounts of Standard, Ultra-Low Standard type, it is 0.01 lots.
In the case of MT5 Standard accounts, of Micro Ultra Low account type, it is 0.1 lots. If you are a Shares account holder, then you can trade a minimum of 1 lot.
Available Trading Instruments
The best thing about XM is that you can choose from over 1,000 instruments to start trading. There are more than 55 currency pairs, 600-plus stock CFDs, commodities, major global equity indices, precious metals such as gold and silver, energies, and shares.
Trading Platforms
On XM, you can trade with both MetaTrader 4 and 5 facilities on a variety of platforms: Windows, Mac, iOS, Android, Webtrader, Multiterminal. Let’s delve into the features of each.
XM MT4 Features
Facilitation with Expert Advisors
Indicators that are inbuilt and customizable
Trading with just 1 click
A huge portion of orders can be done
Inbuilt Analytics and chart tools
Security with Data back-up
Mailing system
XM MT5 Features
Supports over 1000 instruments
Can show 100 charts simultaneously
More than 80 technical indicators
MQL5, a Built-in one
Mobile and Web trading support
Currency Tester and Alerts
Mailing system
More than 40 analytical access
Why You Should Trade ON XM
It’s not just one reason why I emphasize XM as one of my favorite platforms. First, you can trade with XM in excellent conditions that are very flexible for a new trader. You can trade in micro-lots, which for me was the main choice when I was a toddler in this industry.
If one is talking more about the advantages of trading on XM, I would like to dwell on its execution flexibility. It means that the same quality of execution was applied for all types of accounts. Moreover, you can get access to regular and simultaneous updates about the industry.
Apart from this, you can supervise and control your trades from the web, desktop, and even from your mobile. Moreover, there is multi-language support for the traders. What more a trader can expect?
Reasons You Should Trade on XM
Licensed, regulated and reliable broker
Present in more than 196 countries with 30+ supported languages
Beginner-friendly trading platform
Can starts from as little as you can invest
Massive range of instruments
Simultaneous result of multi analytical tools
Final Thought
In the end, the XM review would always be based on my thoughts and real-life trading experiences. Obviously, success in trading depends mostly upon your proclivity of trading. However, a reliable and opportunistic platform always performs a very important role here, particularly when one is a beginner.
That is why, in this detailed review, I have tried to simplify all the facts and features of XM. I believe those are enough to bring you toward the right decision. Anyways, hit the comment section if you find more queries. Take care.
XM Reviews Trusted Ranking
XM Overview
| Company Information | Trading Account Options |
| Broker Details | Info | Type | Info |
| Regulators | ASIC, CySEC, FCA | Maximum Leverage | 1:888 |
| Country | Cyprus | Mini Account | No |
| Base Currencies | USD, EUR | VIP Accounts | Yes |
| Type Of Brokers | ECN, STP | Segregated Accounts | No |
| Trading Platform | Desktop, Mobile, MT4, MT5 | Free Demo Accounts | Yes |
| Established Year | 2009 | Managed Accounts | No |
| Website Language | English, Chinese, Spanish | Pro Account | No |
| US Clients | No | Minimum Deposit | $5.00 |
| Islamic Account | Yes |
| Payment Option | Contact Information & Support |
| Method | Getway | Type | Info |
| Account Funding Methods |  Visa Card Master Card UnionPay Skrill Wire transfer Webmoney | Telephone No | +501 223-6696 |
| Account Withdrawal Methods | Visa Card Master CardUnionPaySkrillWire transferWebmoney | [email protected] | |
| 24 Hours Support | Yes | ||
| Support During Weekends | No | ||
| Address | No.5 Cork Street, Belize City, Belize, C.A. | ||
| Website | https://www.xm.com/ |
XM Trading Features
| Suitable For | Trading Services |
| Trader Level | Yes/No | Service | Info |
| Publicly Traded | No | Hedging | Yes |
| Beginners | Yes | News Trading | No |
| Day Trading | Yes | Scalping | Yes |
| Weekly Trading | Yes | Automated Trading | Yes |
| Professionals | Yes | Indices | Yes |
| Swing Trading | Yes | Commodities | Yes |
| Minimum Spreads | 0.01 | Forex instruments | Yes |
| Commission | Yes | CFDs | Yes |
| Fixed Spreads | No | ETFs | No |
| Stocks | Yes | ||
| Bonds | No | ||
| Cryptocurrencey | Yes | ||
| Trading Signals | No | ||
| Educational Service | No | ||
| Copy/Social Tradings | No |
