XM is an online broker working under Trading Point Holding, a global CFD and FX broker, introduced in 2009. The CySEC, Australian Securities and Investments Commission (ASIC), and the Financial Services Commission of Belize regulate XM (FSC).
This is a terrific option for forex and CFD traders who love MetaTrader platforms and want a quality account opening experience. The low stock CFD and withdrawal costs were appealing on the bright side. The account opening procedure is straightforward. There are several high-quality educational resources available.
However, there are several disadvantages to using XM. It only offers forex and CFDs as a product. It charges average costs for forex and stock index CFDs, and non-EU users are not covered by investor protection.
Advantages
- Commission Free Trading
- Low Trading Fees
- Helpful education and research tools
- More than 200 financial instruments for trading
- Trading Account opening is very easy and fast.
Disadvantages
- Product Portfolio is limited
- Absence of Investors protection
Which Trading Accounts do XM Provide
XM does not have a web trading platform of its own. Instead, it employs MetaTrader 4 and MetaTrader 5 as third-party platforms. In terms of functionality and design, these systems are extremely similar. One significant difference is that stock CFDs can only be traded on MetaTrader 5, not MetaTrader 4.
MetaTrader 4 provides a fantastic mobile trading platform for XM. It’s a well-designed, user-friendly platform with a useful search feature. Touch/Face ID login is not supported.
XM’s MetaTrader 4 desktop software is nearly identical to the web trading platform in terms of style and functionality. You may create price alerts on the desktop trading interface, which is a significant distinction.
- WebTrader Platform
- Mobile App
- Desktop Trading Platform
List of Tradable Products
Aside from its fantastic features, XM makes trading more enjoyable by offering a wide range of products, ensuring that you have a great selection that suits your needs and preferences.
A variety of trading markets are available through a single multi-asset account, which comprises roughly 55 currency pairings and over 1000+ trading marketplaces.
As a result, traders can trade Forex or CFDs on stock indices, commodities, stocks, metals, energy, and Cryptocurrencies, all from the same trading account at XM.
- Cryptocurrencies
- Forex
- Indices
- Stocks
- Shares
- Metals
Commission, Spreads, and Fees Charged by XM
XM uses spreads, similar to the interbank currency market, and there are no trading limits during news releases. XM fixed spreads are more expensive than variable spreads, but they are also more adaptable to different trading methods.
If you open a Micro or Standard account with XM, the pricing and charges are based on a spread. Furthermore, the XM spread is a fractional pip price that is derived from XM’s multiple liquidity sources.
The commission is only applied to XM Zero Accounts since you will be trading with spread quotes starting at 0 pips, trading commission fee.
Leverages
You can leverage on a scale of 1:1 to 888:1 depending on the account type and the organization under which the XM follows regulatory responsibilities.
Conclusion
Finally, the XM is a well-regulated broker with multiple highly regarded licenses that provide fully transparent conditions and is incredibly consumer-friendly.
No re-quoting, no hidden fees or commissions policy, and Negative balance protection, make XM a very comfortable trading option, as does the tight real-time market execution policy.
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