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Forex broker XM

Forex broker XM is a major European dealing centre, whose services are used by more than 500 000 traders in different parts of the world. The first name of the broker was XEMarkets. Among the features of the company are favourable trading conditions and abundance of bonuses.

The brand is the property of Trading Point Holdings Ltd, a holding company registered in Cyprus. The Corporation has been in existence since 2009, and its founders are two former dealers from Greece. The Dealing Centre has many prestigious awards, such as the "Best Execution Broker". The company is a sponsor of the famous runner Usain Bolt.

Trading Terms and Conditions

The XM brand offers traders the following trading conditions:

  • A wide range of currencies including USD, GBR, RUB, GBR, CHF, HUF, ZAR, AUD, JPY;

  • Maximum leverage - 1:888 (for USD/RUB and EUR/RUB pairs leverage is 1:50);

  • Spread - from 0 pips;

  • No fees (for Micro and Standard accounts);

  • Minimum deposit - 5 USD;

  • 16 trading platforms (for different types of devices);

  • Over 300 trading instruments;

  • Maximum number of orders per trader - 200;

  • Round-the-clock trading 24/5.

Trader registration

Go to the official website of the broker. Click "Open a live account". Fill in the "Title" field, which indicates how to contact you (Master/Mistress). Enter your real data:

  • Last name and surname;

  • Date of birth;

  • Country;

  • City;

  • Address of residence;

  • Preferred language;

  • Telephone number;

  • E-mail address.

Select the trading terminal, account type and currency, leverage and bonus. All data is entered in Latin only.

Indicate if you are a US taxpayer. Enter investor information. The information includes the amount of the proposed investment, total capital (in USD), education, purpose and type of transfer, and the fact that you have a job. Think of and enter a password and password confirmation.

Agree (tick) to receive news from the company and letters about special promotions or unsubscribe from the newsletter. Confirm that you have read and understood the conditions and requirements set by the broker. Click "Open a live account". If you have entered everything correctly and filled in all fields, a page will open to congratulate you on your successful registration.

Confirm your e-mail address by clicking on the link received during registration. Open a Personal Cabinet. Confirm your account by sending copies of documents. It is necessary to verify the user and provide them with bonuses. Download the trading terminal, fund your account and start trading.

Trading Terms and Conditions1

 

Account Types

Dealer clients can open the following accounts:

  1. Micro, Standard: Leverage - 1:1-1:888. Spread - from 1 point. No commissions. Minimum deposit - 5 USD. The maximum number of pending orders per trader - 200.

  2. XM Zero: Leverage - 1:1-1:500. Spread - from 0 pips. The smallest deposit - 200 USD. The maximum number of pending orders per trader - 200. Limit on the number of base currencies - USD, JPY, EUR.

  3. Demo: Bidding with a virtual amount of 100 000 USD. Suitable for novice traders seeking to develop an optimal trading strategy.

All accounts have the same execution quality, and a personal manager is available for all clients. You can count on the free intra-day market and technical analysis. The standard MetaTrader 4 and 5 terminals are offered permanently. 

The XM Zero account is a unique offer from the dealing centre: it can trade in more than 55 currency pairs and precious metals. Also, the broker offers VPS service and the possibility to trade in one click.

Trade

XM offers 16 types of trading platforms (for different types of devices). Among them, four main varieties can be distinguished:

  1. MetaTrader 4 - No Requotes. More than 300 trading instruments: CFDs, futures, currency pairs. Availability of graphic tools, indicators and trading advisers. Low spreads - from 0 points.

  2. MultiTerminal MT 4 - Support for at least 128 accounts. Execution and management of transactions online. Ability to trade in one click. Displaying active orders on a chart. Trade requests Close By/Multiple Close By.

  3. MetaTrader 5 - No requotes. Over 80 objects for technical analysis. Spreads from 0 points. All types of orders, advisors and hedging are supported. Trading 180 CFDs (Contracts for Difference). Trading in currency pairs, indices, cryptocurrencies, stocks, precious metals and oil.

  4. WebTrader - Access to the trading terminal from your browser without downloading the application. Display active orders on charts. Trade requests Close By/Multiply Close By. Ability to edit characteristics of graphical orders.

Trading tools

XM's trading platform offers traders seven types of financial instruments such as commodities, precious metals, stock indices, currency pairs, energy, stocks and cryptocurrencies. Signals from the trading expert Avramis Despotis are also available to users for free. There is a possibility to download trading signals for any date in your cabinet. Features of providing signals:

  • Placing Stop-Loss and Take-Profit levels;

  • Daily Russified signals for ten currency pairs;

  • Delivery of signals twice a day (if you own a real account).

Clients can also receive MQL5 signals from XM broker. There is no need for installation, as the service is built into the application. Copying of trades is done automatically, i.e. there is no need for trader intervention. Signals can be used in combination with Expert Advisors.

If you want to improve trading results significantly, you can use unique calculators:

  1. All in one - Calculation of required margin level, swaps and pip value.

  2. Currency Converter - The application allows you to perform currency exchange based on currency quotes in real-time.

  3. Pip Value Calculator - It is possible to determine the pip price in the base currency of the account. It is possible to set the exact risk level for a transaction.

  4. Margin calculator - Calculates the margin level required to open/close positions.

  5. Swap Calculator - Calculation of difference between two currencies of a pair by open positions.

  6. Loss and Profit Calculator - Estimation of probable losses/profits on any transaction in the Forex market.

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Bonuses

The highlight of the broker is providing clients with unique bonus rewards:

  • 100%, maximum - 5 000 USD: Enrolment is automatic and instantaneous. The promotion is limited. Ability to participate in the loyalty program of the dealing centre for the Executive level.

  • XM Loyalty Program: Special seasonal bonuses to celebrate holidays and landmark events. Unique rewards for inviting friends.

  • Free VPS server: Functioning smoothly, optimal for Expert Advisors, high speed of trade execution.

  • No I/O fees: Support for credit cards, electronic payment systems. No commissions are charged for bank transfers exceeding 200 USD. Deposits are made automatically

Entry and withdrawal of funds

Customers can make a deposit using plastic cards (VISA/MasterCard), electronic payment services (WebMoney, Skrill, Qiwi, Yandex.Money, Neteller and Moneta.ru) and bank transfer. Such financial instruments as credit cards (VISA/MasterCard), payment systems (Neteller, Skrill and WebMoney) and bank wire transfer are provided for currency withdrawal. The essential advantage of payment transactions on the XM website is the complete absence of commissions.

Conclusion

XM Broker offers favourable trading conditions. Regulators of the company are the authoritative organizations CySec and FCA, which speaks in favour of the reliability of the dealing centre. Criticism can cause a small number of ways to withdraw funds, but the lack of commissions easily compensates this disadvantage.