XM is an international online broker specializing in Forex and CFD trading, established in 2009. With its headquarters based in Cyprus, it operates under the regulation of the Cyprus Securities and Exchange Commission. XM provides an extensive array of trading options, which include forex, commodities, indices, and stocks. Additionally, it caters to traders of all experience levels by offering a diverse selection of trading platforms and account types. Recognized for its credibility, XM enjoys a positive standing in the trading community, known for its competitive spreads, reasonable commissions, and efficient customer support services.
About XM
Based in Limassol, Cyprus, XM is a globally recognized broker specializing in Forex and CFD trading. Established in 2009, the company is led by CEO Constantinos Cleanthous. XM offers traders favorable trading conditions, featuring narrow spreads and reasonable commission fees. They also provide a choice of three distinct account types. Traders have access to a diverse range of trading instruments, including forex pairs, commodities, indices, and stocks. With a team of over 900 seasoned professionals in the financial industry, XM leverages its extensive experience to carefully select and offer top-tier technology solutions and liquidity options available in the financial markets, catering to both retail and institutional traders.
Account Types
XM provides retail and institutional traders with the opportunity to choose between three account types:
- XM Ultra Low Micro Account
- No restrictions on trading strategy (Scalping allowed)
- Spreads starting at 0.6 pips
- No commission fees
- XM Ultra Low Standard Account
- No restrictions on trading strategy (Scalping allowed)
- Spreads starting at 0.6 pips
- No commission fees
- XM Zero Account
- No restrictions on trading strategy (Scalping allowed)
- Spreads starting at 0.0 pips
- Low commission fees (3.5 USD per lot, per side)
Trading Instruments
XM provides traders with a thoughtfully curated selection of trading instruments, granting them entry into the most widely sought-after and liquid global financial markets. This ensures access to optimal trading opportunities around the clock, 24/7.
| Trading Instrument | Number of Trading Instruments |
|---|---|
| Forex CFD | 55 Currency Pairs |
| Commodity CFD | 14 Commodities |
| Index CFD | 20 Indices |
| Stock CFD | 1,300 Stocks |
Trading Platforms
XM offers two trading platforms that could be considered the most popular on a worldwide scale. These platforms are MetaTrader 4 and MetaTrader 5, which are all available as desktop and mobile trading platforms, allowing the trader high flexibility of available devices he can operate from.
MetaTrader 4
MetaTrader 4 stands as an advanced trading platform that has established itself as a standard tool for experienced Forex traders, facilitating trade execution even in the absence of an active device. It is characterized by its intuitive user interface, an extensive array of technical analysis tools for prognosticating market trends, live updates on currency prices, and a host of additional features. Noteworthy components of MetaTrader 4 encompass mobile trading capabilities, access to trading signals, and comprehensive financial market insights, all of which serve to elevate and enrich the overall Forex trading encounter. Furthermore, it provides support to traders in more than 30 languages globally, along with three distinct trade execution modes, instant execution, execution on request, and execution on the market.
MetaTrader 5
MetaTrader 5 stands as a robust automated trading platform, providing sophisticated tools for meticulous trading analysis and execution in the realm of financial markets. Beyond its ability in Forex trading, the MetaTrader 5 platform extends its capabilities to trade Stocks, CFDs, and Futures. It boasts a diverse array of order types and execution modes, affording traders the capacity to implement tailored trading strategies even in offline settings. With the capability to simultaneously open up to 100 charts and access 21 distinct timeframes, the platform empowers users to conduct in-depth analysis of price movements, even based on minutes. Additionally, it offers a comprehensive suite of 80 technical indicators and 44 analytical objects, allowing you to enhance your trading experience.
Safety
XM is a broker that was founded back in 2009 while also being regulated by several financial authorities worldwide. These include the following four:
- CySEC – Cyprus Securities and Exchange Commission
- ASIC – Australian Securities and Investments Commission
- DFSA – Dubai Financial Services Authority
- IFSC – Financial Services Commission of Belize
XM provides the flexibility to open a trading account with one or more of their authorized entities based on your country of residence. This is a crucial consideration for those looking to set up an account with XM, as the extent of investor protection and regulatory supervision differs based on the particular entity you are associated with.
| Country of Clients | Legal Entity | Regulator | Protection Amount |
|---|---|---|---|
| EEA countries | Trading Point of Financial Instruments Ltd. | CySEC | €20,000 |
| Australia | Trading Point of Financial Instruments Pty Ltd. | ASIC | No protection |
| Middle East | Trading Point MENA Limited | DFSA | No protection |
| Rest of the World | XM Global Limited | IFSC | No protection |
XM provides a negative balance protection to customers, irrespective of their location, whether within or outside the EU.
Customer Support
XM ensures that its clients can rely on top-notch customer support through phone, email, and live chat channels. These support options are available around the clock, guaranteeing assistance regardless of your location. Whether you prefer direct phone conversations, email communication, or real-time live chat support, XM is dedicated to providing excellent customer support that aligns with your personal preferences.
- Live Chat Support
XM provides outstanding live chat assistance, connecting you with a live agent who will provide you with the information you seek or assist you in resolving any type of issues that you might be facing.
- Email Support
XM sets itself apart by offering exceptional email support, guaranteeing that clients receive comprehensive responses within a maximum of one day from the time of contact.
- Phone Support
Finally, it’s worth noting that XM’s phone support is equally remarkable. Clients can rest assured that they will receive prompt responses to their inquiries. This commitment to rapid and effective communication underscores XM’s dedication to providing top-tier assistance to its clients.
Exclusive: When Is Using a VPS & Trade Copier Beneficial?
Using VPS and Trade Copier services in financial market operations can prove highly beneficial in specific situations. Before going into specifics, it’s essential to first understand what a VPS and a Trade Copier actually are and the advantages they offer.
VPS
A VPS, short for virtual private server, is a system that houses the necessary software and data for operating an application or website. The term virtual indicates that it utilizes only a fraction of the underlying physical resources of the server, which are overseen by an external provider. Nevertheless, you have exclusive access to your allocated resources on this hardware.
When is Using a VPS Beneficial?
- When trading with Expert Advisors (EAs)
- When trading with multiple Brokers/Proprietary Trading Firms through a Trade Copier
- When trading through a Mac device
Trade Copier
A trade copier is essentially a software tool employed to duplicate trades across numerous trading accounts. It stands out as the most convenient and effective method for simultaneously managing multiple trading accounts, allowing for the execution of identical trades across various trading platforms.
When is Using a Trade Copier Beneficial?
- When trading with numerous Brokers
- When trading with numerous Proprietary Trading Firms
- When looking to spread risk between numerous trading accounts
Why should you connect a VPS and Trade Copier with numerous trading accounts?
As stated above, incorporating a VPS and Trade Copier into your trading activity can provide a wide range of advantages. For example, when pairing them with multiple trading accounts, you can strengthen the benefits they offer to an even larger extent.
Example of connecting five trading accounts, a VPS, and a Trade Copier
| Device | Benefits |
|---|---|
| VPS (Forex VPS) | Provides Low Latency & 24/7 Connection |
| Trade Copier (Local Trade Copier) | Provides Connection Between The 5 Trading Accounts |
| Trading Account | Account Size | Account Type |
|---|---|---|
| Broker Account #1 | €5,000 Account | Master Account |
| Prop Firm Account #1 | $100,000 Account | Copier Account |
| Prop Firm Account #2 | $50,000 Account | Copier Account |
| Broker Account #2 | $8,000 Account | Copier Account |
| Prop Firm Account #3 | $300,000 Account | Copier Account |
| Trading Account | Account Size | Risk per Position |
|---|---|---|
| Broker (IC Markets) | €5,000 Account | 2% per trade (€100) |
| Prop Firm (FundedNext) | $100,000 Funded Account | 0.6% per trade ($600) |
| Prop Firm (Funding Pips) | $50,000 Evaluation Account | 0.5% per trade ($250) |
| Broker (Pepperstone) | $8,000 Account | 4% per trade ($320) |
| Prop Firm (The Funded Trader) | $300,000 Funded Account | 0.8% per trade ($2,400) |
By utilizing a VPS server, you’ll ensure yourself a consistently low latency and a robust connection, ensuring uninterrupted operation of your Trade Copier 24 hours a day, 7 days a week. When integrated into your network of trading accounts linked by a Trade Copier, this can lead to substantial improvements in your trading outcomes. This is because you will no longer need to manually execute trades across all your accounts. Instead, simply execute the trade on your Master account, and the Trade Copier will automatically replicate it across all the connected Copier accounts. By employing this approach and configuring specific risk parameters for each linked trading account, you can enhance your risk management for each position, regardless of the current balance available in any of your trading accounts.
Education
XM provides its clients with various unique educational resources. These include a demo account and numerous educational sections, such as XM live, live education with a schedule, various educational videos, forex and CFD webinars, and platform tutorials.
- XM Live
XM Live’s educational section provides you with content to deepen your understanding of their platform. Learn from knowledgeable hosts and gain valuable insights into the world of XM. You can tune into daily special shows, catch live interviews with industry experts, and stay updated with their informative schedules.
- Live Education & Schedule
XM’s Live Education provides an interactive and immersive learning experience for traders of all experience levels. Join their expert hosts as they cover a wide range of topics, from market analysis to trading strategies. Engage in live discussions, ask questions, and stay updated with the latest market trends.
- Educational Videos
XM’s Educational Videos section is a valuable source of insights and practical knowledge for traders, no matter their experience levels. Dive into a diverse range of topics, from fundamental analysis to advanced trading strategies, presented by industry experts. These engaging videos provide a clear and concise way to enhance your trading skills.
- Forex & CFD Webinars
XM’s Forex and CFD Webinars section offers a dynamic platform for traders to expand their knowledge and skills. Led by seasoned experts, these webinars cover a spectrum of topics, from market analysis to effective trading strategies. Engage in live discussions, and gain valuable insights to make informed trading decisions while working within the financial markets.
- Platform Tutorials
XM’s Platform Tutorials section is an excellent resource for mastering their trading platforms. These user-friendly tutorials guide you through every aspect of XM’s platforms, ensuring you can navigate and utilize them effectively.
Conclusion
In conclusion, XM stands out as a reputable Forex and CFD online broker. Their remarkable commitment to streamlining the account opening process and providing competitive trading fees, which include free deposits and withdrawals, is excellent. Offering three distinct account types, coupled with narrow spreads and zero to minimal commission fees, indicates their dedication to catering to a diverse range of traders with varying styles. Moreover, their regulatory framework allows users to choose authorized entities based on their country of residence, offering an added layer of security in trading with XM. Additionally, XM offers a wide range of free-to-use educational resources, including XM live, live scheduled educational content, numerous educational videos, Forex and CFD webinars, and general trading platform tutorials. This demonstrates their commitment to arming their community with indispensable knowledge. In addition, their potential integration of VPS and Trade Copier services, along with their implementation of negative balance protection, underscores their dedication to risk management. In conclusion, XM emerges as a reputable and highly recommended online broker, fully equipped to serve traders of all experience levels and positioned as a reliable choice within the trading industry.
