XM.com (or XM for short) is considered as one of the most famous Forex brokers in the world thanks to its outstanding marketing and advertising campaigns.
Introduction of XM broker
XM was established in 2009 and based in Limassol, Cyprus. In addition, there are also international offices in London, Athens and Sydney.
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- XM currently serves more than 2.5 million customers from 196 countries.
- Over 1.4 billion transactions have been made without any requote or order rejection.
- Average daily trading volume is about $ 15 billion.
- There are partnerships in over 120 cities around the world.
- The official website of XM has over 5 million hits per month.
The operating licenses and insurance policies for XM’s customers
For any Forex broker, including XM, being managed by the most trusted financial institutions in the world is always an extremely important factor to evaluate their reputation levels.
Currently, XM is under the trade name of Trading Point Holdings Ltd, which is the owner of subsidiaries located in many countries as follows:
- Trading Point of Financial Instruments UK Ltd (XM UK)
- Trading Point of Financial Instruments Pty Ltd (XM Australia)
- XM Global Limited (XM Global)
- Trading Point of Financial Instruments Ltd (XM Cyprus)
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Specifically,
- Trading Point of Financial Instruments UK Ltd (XM UK) is authorized and regulated in the United Kingdom by the Financial Regulatory Authority (FCA).
- Trading Point of Financial Instruments Pty Ltd (XM Australia) is licensed by the Australian Securities and Investments Commission (ASIC).
- XM Global Limited (XM Global) is regulated by the International Financial Services Commission (IFSC).
- Trading Point of Financial Instruments Ltd (XM Cyprus) is regulated by the Cyprus Securities and Exchange Commission (CySEC), and is registered by FCA.
Types of XM trading accounts
Currently, XM offers 3 main types of accounts for traders such as Micro, Standard and XM Ultra Low.
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Micro account:
It is an account with a specified lot size smaller than the standard account, 1 lot = 1000 units, which means 1 lot on Micro account is equivalent to 0.01 lot on standard account.
This type of account is suitable for those who want to practice skills and test trading systems and run EA on the real market. You don’t need to spend a large of money to test EA’s effectiveness with minimum risks.
- Minimum initial deposit: $5
- Leverage up to: 1:888
- Type of Spread: Floating
- Spread từ (pip): 1 pip
- Commission: No
- Maximum number of concurrent positions: 200
- Stop out: 20%
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Standard account
1 lot = 100,000 units.
- Minimum initial deposit: $5
- Leverage up to: 1:888
- Type of Spread: Thả nổi
- Spread from (pip): 1 pip
- Commission: No
- Maximum number of concurrent positions: 200
- Stop out: 20%
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XM Ultra Low account:
It is most appreciated by the traders and is used by XM to compete with ECN account with extremely low spreads of other brokers like ICMarkets.
For XM Ultra Low account, you do not have to pay commission if spreads is only from 0.6 pips. However, it is of extremely high leverage of 1: 888 for accounts under $ 20 000.
For accounts above $20 000, the maximum leverage XM offers you is from 1: 100 to 1: 200.
Overall, XM Ultra Low account includes extremely competitive costs and some advantages in the Forex market.
- Minimum initial deposit: $50
- Leverage up to: 1:888
- Type of Spread: Thả nổi
- Spread from (pip): 0.6 pip
- Commission: No
- Maximum number of concurrent positions: 200
- Stop out: 20%
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The promotion program of XM
XM is known for being the most generous and powerful broker in advertising campaigns, sponsor for many famous brands inside and outside the industry.
- 30$ as a bonus when registering an XM account
- 15% bonus program
- Lucky draw program
XM trading platform
XM offers users a variety of trading platforms, including MT4, MT5 and Web Trader, which are available to from Windows and Mac platforms, to mobile platforms such as Android, iOS and Tablet devices.
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Instruments, XM offers a wide variety of trading instruments
XM offers a wide variety of trading instruments in many different fields, including:
- Forex: XM offers up to 57 currency pairs, is of extremely high leverage up to 1: 888, spreads from only 0.6 pips and no commission.
- CFDs: Traders can trade CFD stocks with more than 300 companies worldwide.
- Commodities: 8 major products such as Cafe, Wheat, Sugar, Corn, …
- Equity indices: About 30 trading indices including cash index and future index with full categories such as S&P 500, Nasdaq 100, Dow Jones, Nikkei 225, DAX and so on.
- Metal: XM offers Gold and Silver with leverage up to 1: 888 and spreads only 0.3 pips for Gold.
- Energies: 5 types of energies are traded with spreads only from 0.03 for Gas and from 0.05 for Oil.
- Shares: 100 different stock codes. In particular, the transaction fee for US stocks is $ 0.04 per share, the minimum commission is $ 1. The transaction fee for UK and German stocks is 0.1% per transaction, the minimum commission is $ 9 and $ 5 respectively.
- Crypto: XM offers the 5 most popular cryptocurrencies: B.T.C, E.T.H, L.T.C, X.R.P and B.C.H, which creates attractive investment options. Besides Forex, currently, Crypto on XM is only available on MT5 platform, with leverage up to 1:5, fixed swap for buy and sell orders respectively -25 and – 10 (deposit).
Customer support service of XM broker
XM supports through livechat in over 30 languages. Therefore, traders are very easy to look up information or find the answers quickly.
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Deposit and withdrawal methods of XM broker
Currently, XM offers 9 deposit methods for customers, which are very popular among the traders, exceeding our expectation.
With the licensing and management of trusted financial institutions and the awards XM has achieved over the years, XM deserves to be a broker you can believe.
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