XM Review
4.5
CFDs, or Contracts for Difference, are sophisticated instruments that come with a high level of risk, particularly due to the use of leverage. It's important to note that approximately 74.89% of retail investor accounts lose money trading CFDs with this provider.
Before diving into this exciting trading avenue, it's crucial to evaluate your understanding of how CFDs work and whether you are prepared to manage potential for significant financial loss.
When it comes trading, XM stands out as a reputable online
broker that an extensive range of trading instruments, including forex, commodities, indices, and stocks.
With XM, you gain access industry-leading trading platforms like MetaTrader 4 and Meta 5, which are designed to enhance your trading experience with user-friendly interfaces and powerful analytical tools.
What sets XM apart is not just their competitive spreads and flexible leverage options but also their commitment to trader education and support.
They provide a wealth of educational resources, from webinars to tutorials, ensuring that traders of all experience levels can enhance their skills and knowledge. Moreover,
XM operates under strict regulatory oversight, providing a sense of and reliability that every trader seeks. Join XM today and unlock your potential in the dynamic world of trading while ensuring that you have the tools and support you need to navigate it successfully!
-
Quick and easy account opening
-
Regulated by multiple global authorities
-
Low stock CFD and withdrawal fees
Overview
Year founded
Minimum deposit
Withdrawal fee amount
Available Offerings
Platforms available
2009
5$
0$
Forex, CFD
Desktop, Mobile, Web
Account Opening
Opening an XM account is quick and easy. The minimum deposit is as low as $5 for Micro and Standard accounts, while the XM Zero account requires a minimum deposit of $100. XM also provides a demo account option. XM accepts customers worldwide, with a few exceptions such as the USA, Canada, China, Japan, New Zealand, and Israel. There are five account types available: Micro (no commission, higher spread), Standard (no commission, higher spread), XM Zero (low spread, commission applies), Shares (market spread and commission), and Islamic (swap-free). To open an XM account, follow these four steps: 1.Fill in personal information like name, country of residence, email address, and phone number. 2.Select the account type, trading platform, base currency, and leverage size. 3.Provide financial information and answer questions regarding your financial knowledge. 4.Verify your identity and residency by submitting a copy of your national ID, passport, driver's license for identification, and utility bills or bank statements as proof of residency.
Safety
XM, operating under its parent company, is regulated by three reputable financial authorities worldwide, including the prominent ASIC. While it is a well-established brand, XM is not publicly listed and does not disclose financial information. Notably, XM offers negative balance protection for both EU and non-EU customers. XM is regulated by several regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), the Financial Services Commission of Belize (FSC), and the Dubai Financial Services Authority (DFSA). Established in 2009, XM is headquartered in Belize.
Risk Disclaimer
Trading securities carries a significant level of risk. When it comes to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is substantial exposure to various risks. These risks include, but are not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility. They can have a significant impact on the price or liquidity of a currency or related instrument. It is important to note that the methods, techniques, or indicators provided in these products may not necessarily yield profits, and there is a possibility of incurring losses. For more information on the risks associated with forex trading, please refer to further resources.
Summary
XM operates under the regulation of multiple global authorities, ensuring compliance and security. The platform offers competitive stock CFD and withdrawal fees, and the process of opening an account is smooth and straightforward.
However, it's important to note that XM's product range is primarily focused on forex and CFDs, limiting the available investment options. The fees associated with forex and stock index CFD trading are average compared to other brokers. Additionally, it's worth mentioning that non-EU customers may not be covered by investor protection measures provided within the European Union.