XM is a forex and CFD broker that has been operating since 2009 and is regulated by several leading financial authorities, including CySEC, FCA, and ASIC. The broker offers a wide range of trading products, a sophisticated platform, and quality customer service. XM is known for its low fees, competitive spreads, and flexible payment options, making it a popular choice among global traders.
Pro
- Low spreads and no commissions on most accounts.
- A variety of trading products including forex, stocks, commodities, and indices.
- Easy-to-use trading platforms such as MT4 and MT5.
- 24/5 customer service in multiple languages.
- Attractive bonuses and promotions for new and existing customers.
Cons
- Pro accounts have high commission fees.
- There is no Islamic trading account for all account types.
- Limited proprietary trading platform.
Trading Products
XM offers a variety of trading products including:
Forex: Over 55 currency pairs.
CFDs: Trade on stocks, indices, commodities, and precious metals.
Energy: Trade crude oil and natural gas.
Crypto: CFDs on cryptocurrencies like Bitcoin and Ethereum.
Trading Platform
XM provides popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which can be accessed via desktop, web, and mobile apps. The platforms are equipped with technical analysis tools, indicators, and automation functions that help traders make informed decisions.
Spreads and Commissions
Standard Account: Spreads start from 1 pip with no commission.
XM Zero Account: Spreads start from 0 pips with a commission of $3.5 per lot.
Micro Account: Spreads start from 1 pip, suitable for new traders.
Payment Methods
XM supports a variety of payment methods including credit/debit cards, bank wire transfers, and e-wallets such as Skrill, Neteller, and PayPal. Deposits and withdrawals are processed quickly with no additional fees.
Customer Service
XM customer service is available 24/5 via phone, email, and live chat. Their support team is multilingual and very responsive, helping to resolve any issues quickly.
Conclusion
XM is a reliable broker with a wide product offering, a sophisticated trading platform, and excellent customer service. Despite some drawbacks such as high commission fees for pro accounts, XM remains a good choice for both new and experienced traders. With low spreads, a variety of payment methods, and good customer support, XM is worth considering as your primary broker.
