Yes, XM provides VPS (Virtual Private Server) services for its clients, which can help improve trading performance and connectivity. To delete your XM account, you need to contact XM’s customer support and request account closure. XM charges an inactivity fee if an account remains inactive for twelve months. In this case, a one-time account maintenance fee of 15 USD (or the equivalent in another currency) is charged, followed by a monthly fee of 5 USD for each month of inactivity. The broker reserves the right to change the inactivity period at its discretion, making it essential to regularly monitor the account status. Here is a table of average spreads and swaps for major currency pairs on XM’s Standard account.
- So, make yourself comfortable, grab a cup of coffee, and immerse yourself in learning about XM and how it can benefit you, or if XM might not be the right fit for you.
- One of the standout features is the tight spreads, which can start from as low as 0 pips on certain account types, especially the Ultra Low Account.
- FOREX.com is authorised and regulated by the Monetary Authority of Singapore (MAS), ensuring compliance with Singapore’s financial standards.
- Traders consistently express frustration with XM’s spread behavior during market volatility and certain trading sessions.
- There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business.
The XM VPS service is provided on favorable terms as part of a promotion. Clients with a balance of at least $500 and a trading volume of at least 2 standard lots or 200 micro-lots per month can connect to VPS for free. Other clients can connect to the service for a monthly fee of $28. When it comes to making informed decisions about forex brokers, it’s essential to rely on trustworthy sources. RationalFX, a company with over 20 years of experience since its founding in 2005, has established itself as a credible authority in the industry.
Trading Fees and Other Costs
Customers can choose between the world-famous third-party trading platforms MT4 and MT5 and the proprietary solution of the broker, the award-winning XM App. To help facilitate the customer service that XM offers its clients from around the world, it claims to have support in over 30 languages. XM’s trading conditions are tailored to accommodate a wide spectrum of traders, from beginners benefiting from its educational resources to experienced traders leveraging its advanced platform features. XM’s dedication to client satisfaction is evident in its 24/7 customer support and a range of trading platforms, including the new XM App, designed to enhance user experience. The broker’s reputation is further validated by a 4.2 out of 5 rating from BrokerChooser, based on an extensive evaluation covering over 600 criteria and live account testing. Since its inception in 2010, XM has consistently upheld its values of being BIG, FAIR, and HUMAN, serving a global clientele in over 190 countries with equitable and supportive services.
XM offers negative balance protection, ensuring clients cannot lose more than their account balance. Affiliate DisclosureSkrumble is free to use and supported in part by affiliate partnerships. This means we may earn a commission if you click on certain links or sign up for services through our recommended partners, at no extra cost to you. However, our content is written independently, based on hands-on experience, research, and a strong commitment to transparency. We only recommend platforms or tools we genuinely believe can bring value to our audience.
- Since the company doesn’t deal in real cryptocurrencies, clients registered with the broker can only trade them as derivatives.
- It is authorized by major regulatory bodies including ASIC, MiFID, and the FCA in the UK.
- Traders enjoy fast execution, real market pricing, instant withdrawals, and 24/7 multilingual customer support.
So, if you have a $10,000 position, you only need to tie up $1,000 or a tenth of the value in your account. With high-risk leverage, a small sum controls a much bigger financial position. XM Autochartist is a valuable tool for traders who want to stay ahead of the curve and identify trading opportunities quickly and easily. With its powerful features and easy-to-use interface, Autochartist is an essential tool for XM traders of all experience levels. XM also offer mobile apps for Android and iOS trading apps help you stay on top of your trades and execute them on the go. All payments made to XM by traders are securely held in a segregated bank account.
XM offers a range of trading platforms that cater to the needs of different types of traders. Whether you are a beginner or an experienced trader, XM provides reliable and user-friendly platforms to execute your trades efficiently. Our XM Group review team found that this broker outrivals others when it comes to fees and trading costs. XM offers competitive spreads on forex, low trading fees for CFDs, and low non-trading fees. This low-cost approach makes this broker ideal if you are a veteran trader, who tends to trade with more volume or a beginner who is just starting out. XM is one of the few brokers who have a good reputation among clients on Reddit.
Minimum deposit
Dealing desk brokers can manage the risk of their clients’ trades in two ways. They can keep it in-house (and therefore effectively take the opposite side of the trade), or they can pass over the risk to their liquidity providers. The amount of risk a dealing desk broker like XM assumes is not publicly known. Similarly, it is unclear how often, if at all, XM takes positions opposite to its clients.
Desktop Trading Platforms
Pros and Cons of signing up with the broker and customers’ feedback on different platforms like Reddit, Quora, Forexpeacearmy, and Trustpilot will also be looked into. XM’s mission is to provide a big, fair, and human trading environment. It prides itself on offering all clients – regardless of account size – the same excellent conditions.
However, you can use third-party services like Myfxbook or external copy trading platforms that integrate with MetaTrader 4 (MT4) and MetaTrader 5 (MT5) accounts xm group on XM. The minimum deposit at XM is $5, making it accessible for traders of all levels. This low deposit requirement applies to the Micro and Standard accounts, allowing new traders to start with a small investment.
9% of our withdrawals are automatically approved.
A Zero account would charge $7 in commissions plus $2 in spread costs, totaling $9 for the complete round-trip transaction. These examples demonstrate how account selection significantly impacts trading economics, particularly for frequent traders. When using XM, the minimum trade size is typically 0.01 Lot units of the base currency of the instrument being traded. However, this amount may vary based on the specific account a user has opened. XM, as a market maker, may have more lenient entry requirements than ECN brokers, who typically benefit from higher trading volumes and may have larger capital and minimum trade requirements. Market makers usually offer a lower minimum deposit and smaller minimum trade requirements and do not charge commissions on trades.
Once you are satisfied with the trading conditions of the broker, you may proceed with real trading. XM Global offers a similar selection of instruments and provides higher leverage options in some instances. It includes more than 50 cryptocurrency CFDs available only in regions regulated by the Financial Services Commission (FSC) of Belize. While both XM entities provide a comprehensive range of trading options, specific offerings may vary due to different regulatory requirements. Additionally, XM provides over 20 equity index CFDs, 5 commodity CFDs, and futures CFDs on various assets, including precious metals and energy markets.
Market Watch
At XM, spreads and swaps are the primary forms of trading fees. XM introduces a new and exciting element to the trading world – Forex contests. These contests allow novices and experienced traders to test their skills, compete with others, and win valuable prizes. The verification process is a standard step in opening a trading account and aims to ensure security and compliance with legislation in anti-money laundering. In the “Title” line, you should indicate the client’s title depending on the gender – Mr. or Ms. In the account information, you immediately specify the suitable trading platform and type of account.
XM also offers fee-free withdrawals, regardless of the withdrawal amount or method. This policy applies to all withdrawal options, including bank transfers, credit/debit cards, and e-wallets. Withdrawals are typically processed within 24 hours, although bank transfers may take a few extra days.
How many assets can I trade with XM?
Furthermore, learning how to mitigate and manage investment risk is crucial. Trading with XM involves developing a strategy considering risk management techniques such as stop-loss orders, diversification, and position sizing. By effectively managing risk, you can increase your chances of success in the markets.
