Company Overview
XM is a trademark that has been registered by Trading Point Holdings
Ltd., a company which owns a number of other trading companies,
including Trading Point of Financial Instruments Ltd, which is located
in Cyprus, and Trading Point NZ, located in New Zealand. XM specializes
in creating an environment online that can be used for online trading
for forex, futures, and CFDs. It advertises that it will not have any
re-quotes, will not reject any trades, and will execute all trades. It
has a 100% success rate. It was founded in 2008.
Account Types
There are three different types of accounts that are offered by XM. They
are very similar to one another, offering the same number of
currencies, the precise same leverage, spreads on majors, maximum number
of pending orders, and commission fees, which are none. The only
differences is that the Micro account has 100 lot restrictions per
ticket, while the Standard and Executive accounts have 50 lot
restrictions per ticket. The Micro account also has a contract size of
1,000, whereas the Standard and Executive accounts have a contract size
of 100,000.
Commissions & Spreads
There is no commission fee charged for any of the accounts or any of the
other trades that can be made, including on Forex, spread betting,
CFDs, stocks, futures, or options.
Trading Software
The trading software that is used by XM is MetaTrader 4, by MetaQuotes.
It offers a web application, as well as a mobile application that allows
traders to continue to trade even while on-the-go. There is no monthly
fee to pay for using this trader. Instead, the monthly fee is paid for
the account that is created by XM. There are demo accounts available
with MetaTrader 4. This trading software offers enough tutorials and
help packages for beginners, as well as enough options to satisfy those
who are considered to be advanced and expert traders. It has charts,
indicators, and studies that are fully integrated with the platform, but
does not offer live support or news integration. It allows stop order
to be made, as well as market orders and trailing stops. The trading
types that MarketTrader 4 supports are swing trading, mid term trading,
day trading, and long term trading. Finally, it is possible to build
both proprietary indicators and systems on MarketTrader 4.
Deposits & Withdrawals
There are no fees for making a deposit or a withdrawal. It is possible
to use multiple credit cards to make deposits, electronic payments for
withdrawals and deposits, bank wire transfers, and local bank transfers.
In order to make a withdrawal, the trading account needs to be
validated as a security precaution. It is also possible to transfer
funds from one account that is used for trading to another account that
is used for trading.
Customer Support
XM offers comprehensive customer support. There are many different
tutorials that those who are new to trading can utilize in order to get
into the game. They also have customer helplines that can be called if a
customer has a question. The only problem is that there is no live
support offered with the trading platform.
Regulators & Safety
All customer money is kept completely safe because it is stored in
Barclays Bank Plc, which has been rated highly by all credit agencies.
It is also licensed by the Cyprus Securities and Exchange Commission and
the Financial Service Providers Register. XM has registrations through
the Financial Conduct Authority, the Bundesanstalt für
Finanzdienstleistungs-aufsicht, the Commissione Nazionale per la Società
e la Borsa, and many other highly rated financial organizations
throughout the world.
Leverage
Leverage, or the multiplication of an account, is present at XM. The maximum leverage is 888:1. It is the same for all accounts.
Sign Up Bonuses
When a new trader joins the contest arena, he or she will be awarded a
free $20. There is also a 30% bonus of up to 10,000 for every deposit
that is made. These bonuses do not stop after a person has joined and
has been trading for an extended period of time.
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