* This is the maximum leverage for clients registered under the EU regulated entity of the Group.
XM are one of the most popular UK Forex brokers, thanks to their unique and professional business approach. Licensed under several European jurisdictions, XM remain focused mostly on the Old Continent, which they have served since 2009.
Aiming to provide an ethical and fair trading environment for any user, no matter their investment size or type of account, XM have been able to gather a reputation of being one of the most professional Forex platforms, known for its tight spreads, fair fee structure, fast execution and high reliability. But to find out more about what makes XM enjoy the rating it does, keep reading for a full overview over its features.
Forex Trading at XM
As a user of XM, you can enjoy trading on some of the most liquid markets in the world from their 50+ currency pairs offer, but also a number of other, more exotic markets. Creating a Forex account at XM also comes with benefits like no hidden fees or monthly account maintenance costs, as well as other highlights which are described in more details below.
Solid Bonus Offer – If you are joining XM for the first time, you will be able to get a decent welcome bonus of $30 in trading money, without making a single deposit at the broker. Clients registered under the EU regulated entity of the Group are not eligible for the bonus.
The two-tier deposit bonus offers 50% deposit bonus up to $500 and 20% deposit bonus up to $5,000. *Clients registered under the EU regulated entity of the Group are not eligible for the bonus.
Stay Up to Date with Market Performance and Events – As a Forex trader, staying on top of the latest events and news is essential, if you want to want to react quickly and turn a profit. Luckily, XM provide a whole array of useful news and updates that can help you stay informed and prepared for any major events.
XM offers any visitors, account or not, a daily insight into the Asian and European markets and the latest developments in international politics and finances. You’ll also be able to enjoy daily data-driven technical analyses with insights into the current value of trading oscillators and moving averages, as well as news updates that are specifically aimed at Forex traders.
Leverage up to 30:1 – When it comes to trading, XM have the standard market offer alongside a few exotic options. They offer a tight average spread of 1.9 pips on all their accounts for EUR/USD transactions, while the overall average spread runs from 1.6 to 2.6. They also have a pricing structure that differs from most offers, as they give five digit prices instead of the usual four.
No Requotes – No Rejections – One of the unique things about XM is that they boast to have a strict no re-quotes and no rejections policy. The policy is enforced to great lengths to achieve what XM are claiming to be an under-a- second execution in 99.35% of orders. That’s why XM never reject a trading order or re-quote price to avoid lagging and keep the execution sharp.
European Licenses Holder – One of the most important criteria for picking your Forex broker is finding a broker that’s regulated and licensed by trusted authorities. XM is licensed by three European bodies, including IFSC (Belize), the Cyprus Securities and Exchange Commission, and the Australian Securities and Investment Commission.
Apart from holding licenses, XM is also registered with the FCA, BaFin (Germany), CNMV (Spain), MNB (Hungary), CONSOB (Italy), ACP (France), FIN (Finland), KNF (Poland), AFM (Netherlands) and the FI in Sweden. For more information on their registrations and links to their licenses, you can visit their website.
Frequently Asked Questions
- What Account Types are there?
There are four account types available at XM. You can either open up a Micro account where the minimum lot size is 1,000 units, a Standard account, where the minimum lot size is 100,000 units and a XM Zero account, which has the same minimum lot size as the Standard. The minimum deposit and withdrawal for both the Micro and the standard accounts is $5, but zero accounts have higher limits of $100.
Finally, the XM ULTRA LOW account allows you to trade with either micro or standard lots, lower spreads starting from 0.6 pips and it has minimum initial deposit of $50” and add a note that *XM Zero and XM Ultra Low accounts are not available to all the entities of XM Group.
- Can I open more than one trading account?
XM allows you to open multiple accounts to maximize your trading potential. At this broker, you can open up to 8 active accounts at a time, although XM advise you to use the same personal details for all of your active trading accounts. Having multiple accounts is beneficial as XM don’t allow you to change the base currency. On the plus side, creating new accounts can be done fast and easy through the members area menus.
- Do they have Live Forex tutorials?
One of the benefits that come with an XM account is having your own Account Manager. The role of your personal account manager is to provide support through any channel you want to use, but also provide you with 101 training sessions, should you need one. You can schedule a session with your manager to get help with working the MT4 platform XM uses, but also browse through a section of video lessons. There are also free webinars every week at XM and seminars organized in various countries the broker serves.
