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XM is an internet broker for trading on forex and CFDs (commodities, stocks, indicate) with a strict no rejections and re-quotes policy. As an internationally regulated and licensed broker, XM has more than 3.5 million clients with traders in 196 countries with access to trading more than one-thousand instruments. Currently, during the Coronavirus pandemic, the company has gained over 1,000,000 clients and new customers across the world. XM caters to both experienced and novice traders through convenient and easy trading account management from mobile gadgets and desktop. Traders with XM can pick between the famous Meta Trader 4 or Meta Trader 5 platform.
XM provides three core types of trading accounts known as Standard, Micro and XM Zero with the first 2 permitting for commission-free trading and spreads starting from just one pip. Minimum deposits are low at just five dollar and the broke also provides Islamic swap-free accounts, with customer support via email, live chat and telephone.
Forex trading platform
As a brokerage company, XM offers two distinct forex trading platforms for its users in the form of a program used to carry out trade features. They both have the capability to close, open, place trades, and manage forex market positions. These Forex trading platforms are namely:
Meta Trader 5
MT5 is a multi-asset trading platform provided by XM.com. This spec signifies that it offers not just forex but also provides trading of indices, stocks, CFDs, cryptocurrencies, and precious metals. This forex trading platform permits traders to trade other financial assets.
• The provision of multi-asset for over seven-hundred instruments.
• Supports a range of order types including pending, forex market, stop order and trailing stop.
• Contains over eighty technical indicators and forty analytical objects for an effective forex trade.
• Gives forex traders a relax built-in in MQL5 production atmosphere
• Accessiblity of a mobile trading for iOS, android, and web-based forex users which facilities forex trading in windows and other operating systems.
Margins and leverage
CFD traders on the XM platform have access to varying amounts of leverage, depending on the monetary tool traded and on their country of residence. Traders should keep track of their accessible margin. Accounts that exceed the allowable margin face the danger of having positioned closed out by XM.
XM has a set withdrawals minimums depending on the technique of withdrawals. For withdrawals to debit and credit cards and eWallets, there is a $5 minimum. All withdrawals above $200 by wire transfer are added XM zero fees policy.