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Forex Broker Review: XM.com

XM Review

XM Review

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XM GENERAL INFORMATION

Found: XM was found in 2008

Headquarters: XM has offices in Cyprus

■ US Residents: XM forbids traders from US –No

■ Islamic Accounts: XM supports Islamic Accounts –Yes

■ Regulated: XM is regulated by »CySEC (No 12010) »MiFID, FCA UK, and »ASIC

■ Languages: XM website supports English and 16 more languages


XM TRADING INFO SUMMARY

XM Trading Platform

XE Markets Trading PlatformBroker Type: XM is a CFD Broker

CFD Trading: Yes

Platforms: XM Offers 1) WebTrader 2) »MetaTrader4 plus 3) MetaTrader5

Trading Time Zone: GMT

Demo Account: XM is providing a Demo Account –Yes

Typical Spread EUR/USD: XM spread on EUR/USD is 1.6 pip

Leverage: Leverage at XM can be up to 1/500

Scalping: is allowed at XM –Yes

Bonus: XM offers Bonus up to 50%

■ Minimum Account: $5

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TRADING ASSETS

■ 53 Forex Currencies

■ CFD Trading (Trading on margin of 1%, leverage up to 1/100, no commissions, portfolio hedging)

■ Equity Indices

■ Precious Metals

Energy Trading

COMMISSIONS & LEVERAGE

XM TRADING COMMISSIONS

XM Typical Trading Spread as measured on EUR/USD is 1.6 pip.

XM does not charge re-quotes and the orders are executed fast (low slippage).

XM TRADING LEVERAGE

Leverage at XM can be up to 1/500

TRADING PLATFORM & MOBILE

XM TRADING PLATFORM

XM is offering:

1. MetaTrader 4

2. MetaTrader 5

3. WebTrader

Scalping is allowed at XM and a Demo Account is available.

TRADING HOURS

Trading starts on Sunday 22:05 GMT and ends on Friday 21:50 GMT.

XM MOBILE TRADING

XM supports iPhone, iPad and Android mobile devices

Get free iPhone XM mobile app
MT4 iPhone Mobile App

Get Android XM mobile app
MT4 Android Mobile App

NEW ACCOUNT INFORMATION

XM Minimum Account:

The minimum initial deposit required for opening an account on XM is 5 USD for Mini Accounts and 100,000 USD for Executive Accounts

XM Deposit Methods:

■ Bank Wire Transfer

Credit Cards

■ MoneyBookers

Neteller

■ Liberty Reserve

XM Withdrawal Methods:

■ Bank Wire Transfer

■ Credit Cards

■ MoneyBookers

■ Neteller

■ Liberty Reserve

-$30 No-Deposit Bonus

-XM offers Deposit Bonus up to 50%.

-From time to time they offer Trading Bonus up to 100% (Credit Bonus)

XM Review Conclusions:

XM provides a good Forex & CFD Trading experience. The major advantages of XM include relative tight spreads, high leverage, and no commissions. Furthermore, XM doesn't impose re-quotes and trading orders are executed fast (low slippage). Many trading assets and many platforms are available at XM (including mobile applications). XM is a highly regulated broker (FCA UK, ASIC, CySEC, MiFID) which offers also CFD trading. In most categories, XM performs above the industry's average. US Traders are not accepted and Paypal is not accepted as a fund method.

My personal trading experience with XM may be considered as generally positive. Their customer service is good and fast. The only problem I faced was related to the stop levels at late hours. XM is a CFD Agent offering variable spreads, so at late hours trading is more expensive (wider spreads). In general, their trading environment may be considered as reliable.

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CONTACT INFORMATION

MAIN OFFICE CYPRUS

12 Richard & Verengaria Str., 3rd Floor, 3042 Limassol, Cyprus
Tel: +357 25029900
Fax: +357 25820344

POSTAL ADDRESS

XM
PO Box 50626, 3608 Limassol, Cyprus

ACCOUNTING DEPARTMENT

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BACK OFFICE DEPARTMENT

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CUSTOMER SUPPORT DEPARTMENT

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DEALING ROOM
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HUMAN RESOURCES DEPARTMENT
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PR DEPARTMENT
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SALES DEPARTMENT
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NEW ZEALAND OFFICE

38 Birmingham Drive, Middleton, Christchurch 8024, New Zealand
Tel: +64 33353327
Fax: +64 33353417

XM REVIEW PROS & CONS (According to competition)

XM REVIEW

XM PROS

x XM CONS


√ High-Regulated Broker

√ Wide variety of Trading Assets, and many Forex Pairs

√ Many Different Trading Platforms

√ Low Minimum Deposit and wide variety of Fund Methods

√ Zero-Spread Account

√ 50% First Deposit Bonus and 20% for additional deposits

$30 No-Deposit Bonus

√ Free VPS for traders holding $5,000

√ Responsive/Multilingual Customer Support

 

X Relative high Spreads and SWAP charges


Visit the Forex Broker XM

 

 

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