XM Trading Review: XM is one of the most popular forex brokers on the market today. The broker provides a wide range of services, including trading, education, and market research. Its popularity has been rising since its establishment in 2009.
XM offers a wide variety of financial instruments, such as Forex, soft commodities, and traditional stocks. They offer three different types of accounts for trading: Zero, Micro, and Standard. Each of these types has its own features and offers a range of benefits. Compared to most other brokers, XM"s account types provide users with a great deal of flexibility. For example, with the Micro account, traders can trade micro lots and gain access to a maximum leverage of 100:1.
XM is also known for its trading signals. These are sourced through its Autochartist application, which identifies price patterns and creates well-defined price targets. Traders can use the built-in technical indicators, or create their own custom ones. XM"s research department analyzes daily price charts, which they then provide on their website.
XM"s trading platform is available in several languages. You can access it from your PC or mobile device. Moreover, it supports both MetaTrader 4 and MetaTrader 5. Users can choose between the two platforms, which have many interesting features. One of the most important advantages of XM"s MetaTrader 5 is its ability to backtest strategies.
XM offers clients an economic calendar, which can be classified by country, data type, and the level of importance. Additionally, XM offers five demo accounts per client, so new traders can test their strategies. Traders have access to a good selection of education content, which includes educational videos and webinars.
XM"s trading platform offers a number of unique features, such as Good "til Cancelled (GTC) and Stop-Loss order types. In addition, the platform has a category search and filter function, and provides users with tools for generating signals.
XM"s education includes online live training, trading platform tutorials, and educational videos. However, the most important resource for XM"s education is the video course, which runs through seven chapters and focuses on interpreting market conditions.
XM"s customer service is available in over 30 languages. XM"s headquarters are in Belize, but the company has offices in several countries around the world, including Australia, Cyprus, and Israel. All of these offices have conventional KYC regulations, which gives investors peace of mind.
XM has several trading licenses. As a result, it is a safe option for traders. But, it does not accept traders from the United States, Canada, and Iraq. Also, XM does not provide an option for corporate accounts.
XM"s client bank accounts are with large banks with a good reputation in the industry. Accounts are opened in minutes, and clients can transfer funds between their XM accounts and their bank accounts in the most convenient manner.
XM"s trading fees are competitive. However, they do have a monthly fee of $5. This amount is deducted from the free balance each month.