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XM Broker

XM Broker
Broker type Market Maker
Foundation Year 2009
Regulation Australian Securities and Investments Commission (Australia), Cyprus Securities and Exchange Commission (Cyprus), Financial Service Providers Register (New Zealand)
Minimum Deposit $5
Spread EUR/USD:1.9, GBP/USD:2.6, USD/JPY:2
Minimum lot size 0.01
Maximum Leverage 888:1
Platforms XEM MT4 Terminal, XEM Web Trader, XEM iPhone Trader, XEM iPad Trader, XEM Droid Trader, XEM Mobile Trader, MIRROR TRADER
Account currency AUD, JPY, GBP, CHF, USD, EUR
OS Compatibility iPhone, iPad, Windows and Mac
Scalping Yes
Hedging Yes
Swap free accounts Yes
Demo Account Yes
Funding/Withdrawal methods Credit Card, Neteller, Moneybookers Skrill, Liberty Reserve, Wire Transfer, Western Union, MoneyGram, WebMoney, China UnionPay, SOFORT, iDEAL
Supported Language Arabic, Chinese, English, French, German, Hungarian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Greek, Dutch, Hindi, Malay, Indonesian
Availability Forums, Call Back, Phone, Chat, Email
Accepts US Clients No
Headquartered in Cyprus
International offices Hungary, New Zealand, Greece
Website Visit XM Broker
Submit reviewView reviews (1)

Average Rating

View ratings
Total average

95.2/100

Ease of Access ( 95 )
Platform Performance ( 96 )
Reliability ( 94 )
Customer Support ( 96 )
Payouts Percentage ( 95 )

Review

XM Broker Review
Company Information

XM is the registered trade name of Trading Point Holdings Ltd, which wholly owns Trading Point of Financial Instruments Ltd (Cyprus) and Trading Point NZ (New Zealand). XM provides online trading environment for Forex, CFDs, and futures with no re-quotes, no rejections, and 100% execution policy.

XM provides investors with free and unlimited access to demo as well as multiple live trading accounts on over 120 financial instruments. Clients have direct access to as many as 9 platforms from 1 account, and can trade on leverage up to 888:1, with tight spreads from 1 pip. A wide range of payment options with instant deposits and same day withdrawals can be used with no fees or hidden costs.  Transactions are 100% automatically processed.
XM follows strict policies by acting in every client’s best interests when accepting and executing trading orders without delays, charging no commissions, and collaborating with multiple liquidity providers to offer the best spreads and liquidity in the industry.

Trading Platforms

Like its predecessor, Trading Point, XM also have a fabulous choice of trading platforms for their clients:

  • XMMetatrader 4

The Metatrader 4 Forex trading platform is one of the world’s most reliable and popular trading platforms. Hence, it is not surprising to see XM making this platform available to their clients. Packed with the tools of the trade, traders can set up the XM Metatrader 4 trading platform for either manual trading or automated trading with Expert Advisors (EAs).

  • XMWeb Trader

The XM Web Trader provides traders to trade in the financial markets through the internet without having the need to have specialized software downloaded.

  • XMMobile Trader

For those constantly on the move, XM also provision for this segment of their clientele. Trading on the iPhone, the iPad and other mobile devices is supported with their suite of Mobile Trader platforms.

  • XMMAM Trader

For the professional traders who are trading with more than one account, they can opt to use the XM MAM Trader Trading Platform. This platform allows traders to manage multiple accounts with all the necessary trading tools.

XM Account Types

There are three types of trading account with XM:

Micro Trading Account

This type of account is suited for those who want to adopt a low risk approach towards investing. This trading account needs an extremely low minimum initial deposit of just $5.

Standard Trading Account

The Standard Trading Account is more suited for the professional and more experienced traders. Although the benefits are the same as Micro Trading accounts, Traders with standard trading accounts can trade with larger contract size.

Executive Trading Account

Executive Trading Accounts are for those who want to take bigger risks for better gains. Coupled with the ability to trade in larger volumes, traders with Executive trading accounts have to make an initial minimum deposit of $100,000.

Other Types of Trading Account

Islamic Accounts

Recognizing that the Forex market is a global market, XM also make allowances for those traders who wish to trade in accordance with their religious belief. The Islamic trading allows traders to conduct trades based on Sharia principles.

Managed Accounts

Clients who don’t have the experiences or time to trade for themselves can also rely on the additional services provided by XM through the form of managed accounts. A professional account manager will help clients’ with their trades and also help to manage their funds for them.

Demo Accounts

With the Demo account provided by XM, traders can test out their trading strategies without having to risk real money. Each demo account is provided with $100,000 in virtual money so traders can try to simulate real trading conditions.

Commission & Spreads

Like most Forex brokers, XM do not charge any commission. Instead, they charge a spread on trades conducted through them. Depending on the instruments and account types, spreads start from as low as 1 pip. There is a choice of fixed spread or variable spread that traders can opt for. To provide their clients with the best possible spreads, XM also offer fractional pip pricing so prices can be quoted to the fifth digit instead of the normal four digit pricing.

Customer Support

To cater for a globalized market, XM website is a multilingual website. Languages supported include:

  • Arabic
  • Bahasa Indonesia
  • Bahasa Malaysia
  • Chinese
  • English
  • French
  • German
  • Greek
  • Hungarian
  • Japanese
  • Korean
  • Polish
  • Portuguese
  • Russian
  • Spanish
  • Thai
  • Swedish
  • Italian
  • Turkish
  • Vietnamese

Reliability

Reliability is reviewed from the aspect of trading efficiency as well as the ease with which the funds can be handled.

  • Trading Efficiency

At XM, they recognized that quality execution is essential and hence their trades are executed efficiently with 99.35% of all trades completed in less than a second. They have a Strict NO re-quotes policy and all orders are 100% executed.

  • Funds Depositing

Can be done through China UnionPay, Credit Cards, iDEAL, Liberty Reserve, Moneybookers Skrill, MoneyGram, Neteller, SOFORT, WebMoney, Western Union, Local Bank Transfer and Wire Transfer.

  • Funds Withdrawal

Supported by China UnionPay, Credit Cards, iDEAL, Liberty Reserve, Moneybookers Skrill, Neteller, SOFORT, WebMoney and Wire Transfer.

Pros

To surmise, XM have several distinct advantages like:

  • 30% on all deposits up to $10,000
  • Efficient trade execution (99.35%)
  • No rejection of orders (100% execution)
  • Strict NO re-quotes
  • Unique Leverage up to 888:1

 

Cons

The cons of XM include:

  • Not having any funding option for Paypal
  • Doesn’t differentiate much in terms of benefits between the different types of trading account.

 

Conclusion

The rebranding exercise is indicative of the fact that XM is trying to adapt to the changing market environment. This is a positive move as it shows that the broker is responsive to their clients’ actual needs. The “No Requote” policy is a good way for them to differentiate themselves from other brokers as this is a major problem faced by many traders in a fast moving market. Taken as a whole, XM seem like an ideal broker for both new and experienced traders.

 

Visit XM Broker

 

 

Dr.Trader

Review comments (1)

IGOR B.
XM Broker 95.2

Hy!I have been trading on etoro.Then i was looking for a new broker.I am so glad i find XE Markets.I am really satisfied with them.Payouts are fast (faster than in 24 hours),customer support is great-I also like their free webinars and their bonuses!I will stay with them.If you are looking for a broker i highly recommend them-

Plusses
  • Very fast payouts,customer support,bonuses,webinars
Minors
  • Still too early to tell.
Posted on September 15, 2014 5:24 pm

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