It is time to know more about XM! Have you heard about it? XM is an online CFD broker that offers the possibility of trading in Forex as well as in a wide range of more than 100 instruments. Such as metals, commodities, stock indices, energy products, etc. As we can see, it offers us a lot of options. So, we decided to do deep research about it so you can know if it is really a good option.
The great thing about the XM broker is that since it was lauched, it has not stopped gaining a lot of popularity. It has exhaustive analyzes carried out in OkBrokers to know in detail its main characteristics. And, to know the reason for its great success.
Is XM a reliable broker?
Now we know what it is, but is it realiable? This broker is registered with the CySEC of Cyprus. A regulatory body in which it has the number 251334 and the license 120/10. The registered company is Trading Point Financial Instrument Ltd and the postal address is the Cyprus city of Limassol. If for any reason you want to make a claim, you must submit it through the platform of this broker. You will have to submit it to the Cypriot CySEC and not to the Spanish CNMV.
As you can see, all these licenses imply that this broker must comply with the highest requirements stipulated in directives. Such as the European MiFID, as well as the Cypriot Regulated Markets Act of 2007. If you become part of XM, your funds will be protected by the investment compensation fund, as required by Cypriot law. In addition to this, XM does not support negative account balances. So, your losses when using this broker will be limited to the investment you have made. For all of the above, we believe that XM is a safe broke. Plys, is why it is given the highest marks when it comes to security and regulation.
What about the commissions in XM Broker?
In XM broker, it is possible that first you can see that trading commissions can be low. But the impact that they can have in the long term can be very important. And that is why being able to study them in detail is a fundamental part when establishing our investment strategy. This is also important when choosing a broker with which to operate. We can say that XM does not charge commissions of any kind except spreads, which is nice!
And do you know what is the spread? It is the difference between the trade at which a position can be opened and the position’s closing price. At XM broker, traders will be able to trade with 2 types of spreads, fixed and floating. If we make a comparison of the XM spreads with those of other brokers, we will realize that they are relatively lower!
And how is the XM Broker platform?
As we could see, the XM broker offers a variety of options when choosing a trading platform to carry out your operations. XM clients will be able to choose between the 16 types of platforms. This, to make their investment in Forex as well as in other financial assets through CFDs. Yeah, 16 types of platforms!
XM includes some of the most popular trading platforms on the market such as MetaTrader4. It adapts to the needs of all types of traders, no matter if they are beginners or experienced, it is very user-friendly!
XM Broker demo account
This type of account is free, and you can use it unlimitedly. Not all brokers offer this type of account so that users can practice. Develop some strategy or you can familiarize with the operation of the platform, before investing real money.
Types of XM accounts
This broker offers its clients 4 types of accounts, below, we will see the differences between each of them.
– The account XM Micro: this type of account will allow you to operate with micro lots. A lower level of risk, and your minimum deposit is only $5.
– XM Standard: with this account, you can trade standard lots with a minimum deposit of $5.
– And you’ll also get XM Zero: this type of account will allow you to trade with standard lots, and smaller spreads, and the minimum initial deposit is $100. With this account, a commission of $3.5 is paid for every $100 traded.
– XM Ultra Low: this will allow you to trade both standard micro lots. The spreads are lower than with Micro and Standard and the minimum deposit is $50.
As you can see, there are lots of options, so you must choose the one that works better for you!
Conclusion
As we mentioned in the article, the XM broker has little experience in the Forex market. But it has presented a lot of reliability and very good results. We have used it and it has worked perfectly, what are waiting for? You must join XM!