XM Broker Review: Pros and Cons of Trading with this platform

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Beginning operations in 2009, XM Broker has grown rapidly. The company started off serving only a small segment of the trading community by providing intermediary services in the foreign exchange market. There has been a lot of development and progress since then. It is safe to use XM, which operates in almost 190 countries around the world.

But is this popular broker all that it is cut out to be? We examine the pros and cons of XM Broker in this review.

XM Regulation: is this broker safe?

Anyone looking for a professional trading platform with fast order execution and a reasonable fee structure should strongly consider XM Broker, according to our XM review. One striking feature is that it is simultaneously licenced by three of the world’s most prestigious authorities.

Among these are the Australian Securities and Investments Commission (ASIC), the Belize Financial Services Commission (FCS), and the Cyprus Securities and Exchange Commission (CySEC) (Cyprus).

Trading Accounts: does XM offer favourable trading conditions?

Every account type from XM is assured the same low rate of requotes, slippages, and instant order executions with counter-transactions from the broker, according to our XM Review.

The leverage ratio is acceptable in the European Union (including the MiFID directive that all CySEC licensees work in accordance with). The market is rather uniform. However, clients of the XM Group’s EU-regulated entity are limited to a leverage of 30:1.

It’s also worth noting that the market circumstances are quite favourable for inexperienced traders. A cent (micro) account requires a deposit of just one dollar, and a lot (1,000 units) is the minimum for a cent account.

Both experienced traders and newcomers to trading will find the trading conditions at XM Broker excellent.

There are both cent and standard accounts, and ultra-low spreads, low minimum deposit requirements, and a sizable amount of leverage (for those outside of the EU).

A demo account is offered for testing tactics, familiarising yourself with the functioning of platforms, mobile apps, and evaluating their potential.

Pricing: does XM offer competitive fees?

There are no fees associated with depositing or withdrawing funds, and no other hidden fees. The swap fee, which moves transactions to the following business day, fluctuates based on market conditions.

Trading Assets: does XM offer a good variety of instruments?

XM offers access to over 1000 instruments. When it comes to constructing entire correlation trading systems and a varied investment portfolio, XM Broker is one of the few brokers that offer assets like cotton, palladium, CFDs for shares of individual firms, in addition to classical instruments. Cryptocurrencies are likely to be integrated in the future.

Which type of traders are a good fit for XM?

Because it is against XM Broker’s policy to allow for passive investing programmes, the broker’s efforts are directed at providing professional trading services. Yet, the company offers a number of services aimed at helping active traders.

MQL5 trading signals from experienced traders who have been using XM Broker’s platform for more than a month are available for instant access. Added to this, traders receive direct access to the programming environment directly from within the broker’s trading terminals.

You might also be interested in: How to trade forex in Namibia


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