“We are driven by the passion for mutual success – and we know that this can only be achieved through fair trading conditions, innovation, and lucrative investment opportunities for our global client base”.
These are words from Constantinos Cleanthous, founder of the XM group while addressing what the company stands for and reiterating the essence of the company’s establishment.
XM is a regulated Forex broker that was established in 2009 and licenced by CySEC under licence number 120/10.
This broker allows traders to open trades on currency pairs, stocks, commodities, metals and energies from the same trading account.
XM was named the best Forex broker in Europe in 2018.
This year it was yet named the best Forex broker by FinTech Age.
Not to mention that in 2017, the company received an award for being the best Forex execution broker. To mention but a few.
XM TRADING PLATFORM
The XM trading platforms are quite user friendly.
There are two trading platforms available for new and experienced traders. Demo accounts and live accounts.
Both accounts can be accessed either through the MT4 or MT5 platforms.
XM TRADING ACCOUNT TYPES
Types of trading accounts available in XM include:
1. XM Micro Account: –
There are different currency options available on this account type.
You can trade in GBP, EUR, ZAR, JPY, USD, AUD and a few other currency types.
The minimum deposit needed to activate an XM micro account is only $5 and there are trading bonuses available.
2. XM Standard account
XM standard account users benefit from a negative balance protection and like the micro account, the minimum deposit is to activate the account is only $5.
Hedging is permitted on a standard account and you can trade in different currencies with the account.
The contact size for this account is, 1 Lot = 100,000
Open a Standard account in XM Broker
3. XM ultra low account: –
Base currency options for this type of account are USD, GBP, ZAR, AUD, EUR, and SGD.
There is a negative balance protection for users of the XM ultra low account.
However, there are no trading or deposit bonuses.
Minimum deposit amount on this account is $50.
4. Shares account: –
For this type of account, the USD is the only base currency option.
There is no leverage, deposit bonus, or trading bonus.
The minimum deposit amount is $10,000.
Hedging is not allowed. However, there are commissions available to you.
Just so you know, you can operate multiple accounts on the XM platform. 8 trading accounts and 1 shares account is the limit.
XM Bonusses And Promotions
Bonusses available in XM include: –
1. The 50% deposit bonus:
Here, you can get up to $500 of useful funds to trade with. Literally, this means you can get half of what you paid into your account as an added incentive.
However, the bonus is not available to customers with XM ultra low and XM shares accounts.
2. The 20% deposit bonus: –
The second XM bonus on offer is the 20% deposit bonus.
With this bonus option you get 20% of the amount you paid into your XM account up to $4500 or the equivalent of your local currency.
Also, people who use XM ultra low and XM shares accounts are ineligible for this bonus type.
3. XM loyalty program: –
The XM loyalty program is all about accumulating points for rewards.
These points can be redeemed to get credit bonuses.
Just make a minimum deposit into your trading account and start trading to be eligible.
Note: – you can trade with the bonuses and only withdraw after winning.
Advantages of Trading With XM Forex
- Numerous bonuses available
- Great customer support
- Regulated and reputable
- Good leverage
- Numerous deposit options
- Fast trade execution