Founded in 2009, XM serves approximately a million clients across 196 countries worldwide. Supporting over 30 languages, it has
grown to becoming one of the leading trader’s broker choice. XM prides himself as the product of more than 300 professionals who have a deep experience in the financial sector.
XM have two trading options for clients to choose from depending on their preference. For clients who prefer to conduct their
transaction while on the move then Web Trader is their best choice since it is accessible from the mobile phones. However, for who would like to download software’s to their PC then Meta Trader 4 accommodates the well.
XM offers 3 platforms that are free from re-quotes. The platforms consist of the common MT4 and MT5 platforms and also their own unique XM Web Trader which ensure a faster trading speed for their clients regardless of their location.
The company offers 3 distinct accounts for their clients which varies with respect to terms and conditions. The accounts are
1. Micro account-
it can be traded with a minimum investment of $1 and also allows hedging, moreover it offers a wide range of currency options which includes USD, EUR and JPY among others.
2. Standard account- with a minimum investment of $5, this account is unique in that it allows edging besides accepting an Islamic account option.
3. XM Zero account- just as the standard account, this account allows both hedging and Islamic account options. However, it has a higher minimum investment of 100$. Holders of this account are allowed to trade from a minimum volume of 0.01.
XM has a variety of deposit options which include Credit Cards, Electronic Payments, Local Bank Transfers and also Bank Wire Transfer. Credit Cards offers a variety of options which includes the visa card, master card, unionpay among others, while Electronic payments covers for various platforms which includes PerfectMoney, Boleto, Oxxo and many others. For withdrawals also, all the depositing options except Local Bank Transfers are used. The depositing and withdrawals options mainly differ according to minimum amount that is required for the transaction to be facilitated and also the duration of the transaction. The minimum value ranges from as low as $5 for mostly Credit Cards and Electronic payment and about $250 for Bank Wire Transfer withdrawals.
XM has a variety of free signal and bonuses for their client, which includes the Big Free trading contest which can earn up to $500. Apart from trading contest XM also offers some bonuses to their clients especially during the festive seasons such as Christmas. Furthermore, the XM points which is a product of XM loyalty program is a big deal for the clients since they can be exchanged for cash. Also new traders get to enjoy a no-deposit $30 account bonus. This are just but to mention a few of what is offered at XM.
Advantages of XM brokers
· Language friendly for clients since their customer services consist of variety of languages.
·Payment on time which is facilitated by fast withdrawals.
· Non-limiting constraints on weekly earnings, XM ensures limitless customer earnings by not setting a barrier on
the earning limits.
· Safety of clients’ money through ensuring a maximum funds security which is enhanced by multiples licenses and other
· Ensuring a steady additional source of income for the clients through various initiatives.
· XM platforms has a lot of useful trading tools and features which allows efficient communication and trade between
Disadvantages of XM brokers
· Withdrawal problems that normally affects the client at times when their withdrawals are rejected.
· Delayed transaction which occur sometimes.
With great trading conditions offered at XM, together with their customer friendly platforms and a fast experience in the financial industry since 2009, this company have grown to be one of the most liked broker worldwide. However just like other forex companies shortcomings are there though a few.