So How to place orders with XM? Placing order is a quite seamless process, as MT4 or MT5 also allows one-click trading option. So you may choose between pending order or market order available on all platforms. There are risk tools available as well, which you should never skip and stick to your strategy.
XM Customer Support As for the customer support and service, as we see XM globally covers trading needs while the customer service team available in international locations and speaks more than 25 languages including Chinese, Russian, Hindi, Arabic, Portuguese, Thai, Tagalog and more languages.
The broker is available through email, phone, or live chat. Customer Support in XM is ranked Good with overall rating 8 out of 10 based on our testing. Support is knowledgeable, fast answers are received on Live Chat, also quite easy to reach during the working days See our find and Ranking on Customer Service quality: Pros. Therefore, even if the traders are asked to share their account details, they are absolutely safe on the XM platform.
All the data of the clients are stored in encrypted forms so that they are not accessible to hackers. There are three main accounts to choose from: commission-free account: Micro account and Standard account, and commission-based XM Zero Account. Also, there is a fourth account, the XM Ultra-Low account; however, it is not accessible to all the members. Users can open an account with a virtual balance of ,USD. The XM demo account is an exclusive benefit given to its users, which offers the same market conditions as real trading.
There are no time limits on how long the user can use this demo account. The demo platform makes the trading point of financial instruments much easier, as it gives an opportunity to the traders to practice trade tactics without having to lose money; they can use the virtual money in placing trades and therefore do not lose money when trading which is a great relief.
One can directly sign up for the demo feature just after his registration is successful for opening an account on the XM forex broker trading platform. To make it more feasible for your trading experience you can select any option according to your preference. All these different account types offer exceptional trading conditions unlimited access to XM MetaTrader 4 or MT4 platform. Apart from these, there are also XM Zero Accounts that too have exclusive features.
The trading point on Financial instruments depends on what each of these accounts offers to the traders. Each account permits up to open or pending positions per customer. Users can open a trading account on XM platform and the minimum deposit to open a trading account varies because of account type. Moreover, one micro lot is 1, units of the base currency. Traders can begin with just 5USD. One standard lot is , units of the selected base currency.
There will be no commissions, deposit bonuses, or trading bonuses allowed on this account, but hedging is allowed. For Standard Ultra the minimum trade capacity is 0. There are no deposit bonuses and hedging is also not allowed. The contract trade size for this account is 1 share with a minimum trade volume of 1 lot, up to a maximum position of 50 allowed for the registered clients.
There are a lot of restrictions imposed per ticket depending on the shares. However, some clients can avail customized accounts but those are available only for trading forex and no other financial instruments. Similar to the Standard account, one standard lot is , units of the selected trading account base currency.
These accounts offer Intra-Day market updates regularly with analysis and multilingual customer support, that are managed by personal account managers. Leverage Based on the instrument, the leverage can go from to This is adaptable, and XM offers its customers the opportunity to deal with their very own leverage risk. Moreover, margin requirements stay steady consistently throughout the week and never extend at night or during the weekends.
The platform gives a risk disclaimer to its traders that trading with leverage come with a high risk of losing your money, but it is also true that with a high risk of losing comes more opportunities to earn money. It does, however, also increase the potential rewards from trading.
To help clients manage real-time high-risk exposure, XM offers the ability to monitor your margin. You can use this option if you can take the high-risk. Deposits and Withdrawals Both the deposit and withdrawal procedures are very simple and therefore even a novice can operate on this XM platform without facing any hassles. As per our review on the XM platform, it appeared to be absolutely legit and this can be inferred from the easy withdrawal procedures.
Has it been a scam broker, the withdrawal procedures would not have been so easy as the deposits, it would take forever to process a single withdrawal request, which has never been the case for the XM group. They additionally need to give current utility bills, dated from the last three months as verification of address. The users however do not need to share and IDs or bank statements. After registration, 5 dollars is the minimum deposit fees for Standard and micro-accounts; at the same time, an XM zero account requires a minimum deposit of dollars.
Besides, deposits could be made in any currency and it will be naturally changed into the currency that the user selects as their base currency during the account opening process. All XM withdrawal are handled within 24 hours and withdrawal amount transfer to respective bank accounts; there are no withdrawal fees to withdraw from the e-wallet. Regulation and Licensing The XM Group of online brokers helps the traders to trade on various financial instruments amidst a peaceful environment, which cannot be achieved if the online broker were not regulated.
The organization is located in the City of London, United Kingdom, and is subject to local licensing and regulations. Also, there is an economic calendar provided by Investing. This economic calendar houses immensely useful market information when it comes to forex trading.
XM Review — Research Analysis Open Free Account Trade Signals As far as manual trade signals or trading signals are concerned; XM Group offers its trade signals to live account holders where clients can get signals over ten instruments produced two times daily.
On the other hand, trade signals that are automated right now are constrained to the signals market, accessible within the MetaTrader platform. From these trade signals, you can get an idea about the market volatility. Tradepedia includes beginner and advanced video content.
Video News Analysis XM Group has created daily forex news recordings with market analysis, market commentary, investment recommendation, markets overview, and advice, so well in a TV interview format at XM TV. It is available to trade on the phone support via live chats, emails, etc and the trading hours are Sunday GMT to Friday till GMT, 5 days a week, and 24 hours a day.
XM provides multilingual personal customer support managers to help users with both real and demo accounts. For emails, the traders have to check their mails every now and then, to see whether the customer care executives have come up with any kind of solutions to their trade-related issues. In a live chat, the traders can explain the issues to the customer care expert advisor on a one-to-one basis which becomes more relevant.
The rollover strategy is that XM will debit or credit the retail investor accounts and takes care of rollover interest. Moreover, this relates to any position held open after GMT. However, rollovers do not occur on Saturdays and Sundays because the business sectors are closed.
Thoughts of Concern about XM Even though XM Group offers more than instruments along with 57 currency pairs, it still lags behind other best forex broker UK who offer a few thousand tradable symbols. XM Research instruments are restricted as no fundamental information and news are given. Finally, a monthly inactivity fee of 5 dollars is collected following 90 days of inactivity. Drawbacks Few users complain that customer support is only accessible from Monday to Friday.
The absence of diversity between the different account types gives a less customized feel. Different brokers offer increasingly distinct offerings for their accounts, yet the Micro account, Standard, and Zero accounts are practically identical. PayPal deposits are not presently supported, which can be a problem for a few users.
Inactivity fees are concern about the irregular traders. Wrap up To sum up, XM is a global broker offering its customers access to over 1, instruments over seven asset classes. XM has high liquidity, no re-quotes, or dismissals of orders.
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