XM REVIEWS - XM IS USAIN BOLT, RIGHT OR SLIDE?

by Mike K. Post your article at Aleshatech.com

Founded in 2009, XM.com provides traders’ community with full MetaTrader platforms and steps into an online multi-asset broker offering 57 currency pairs and 356 CFDs, including five CFDs on digital money. This broker holds many regulations starting with the CySEC license. November 2016, XM was proud to announce the partnership with the World’s Fastest Man, Usain Bolt - the lightning. The reputation gets along with the competitive trading condition and the strong team for support.

Features

Each broker has its own strengths and weakness, based on the following component and years of experience, we consider XM is one of the best forex brokers in 2018.

1. Reliability

Trading with forex broker who can be trusted is crucial to the success, so from which point can we identify the reliability of a broker? Regulation is always the top answer to that question. The US and UK regulations are always mentioned as of the standard. Experienced traders all know that one trustworthy license is enough, yet after Cyprus, XM also got the passport from FCA in the UK, ASIC in Australia, FSP in New Zealand, and FSB in South Africa. In addition, the broker has been trying to expand to Asian regions as the main target in recent years.

Secondly, the long history is the witness of time. XM, the fastest growing brokers, is about to reach ten years of operation as one of the top largest brokers as well. The names still function with no scam report, and all the information are available on XM website for research and welcome new traders. From another aspect, the significant result can prove the current accomplishment, XM’s trading volume in May is $320 billion - the second, only after Exness. Last year, the City of London Wealth Management awarded XM for ‘The Best FX Service Provider for 2017’, and the company also got many other great achievements in recent years.

2. Account Types

XM used to receive dislike for few account options, but in brief time, it has provided from two to three account types, including demo account for each type, which compatible with all kind of traders. The trading conditions from XM are not the same with the different picks, especially the fee and commission.

The Micro account is suitable for beginners with commission-free and the low spread. The minimum deposit is just $5, but the leverage is up to 1:888, which is relatively high. All accounts allow 200 orders at a time, and pending positions are included, with the negative balance protection from XM.

The Standard account is for the experienced traders. The condition is similar to the Micro account, but there are still notable differences: the offered contract size is a hundred time bigger - 100000 for 1 lot, minimum trading lots are equal for both MT platforms, and the lot restriction per ticket is 50 - a half compared to the Micro account.

The Zero account is commission-based and has the most competitively priced offering. The average spreads on the EUR/USD was listed as 0.1 pips - not including commission, and even after including the USD $5 per side commission), the all-in cost to trade is 1.1 pips (0.1 spread + 1.0 RT commission). The experts love it besides the no re-quoting across all which means the lower spreads during certain market conditions.

There is also the XM Islamic account for clients who follow the Muslim faith. They are the free-swap type of account for Islam traders.

3. Trading Condition

The regulation can only assure you that the regulated brokers are safe. It cannot confirm you that traders always win. There are various account types, you need to understand them as well the brokers’ rules, then figure out the suitable strategy to proceed.

Besides three amazing accounts, XM also offers attractive Deposit Bonus with easily withdraw condition. The bonus of 100% up to $5000 was being awarded on all new deposits. There is no minimum deposit required and money can be transferred through the credit card, and withdrawals can be made using the same method. And, there are also the special seasonal bonuses as well as highly exclusive bonuses made available on an invitation-only basis.

After account types and bonuses, it’s about the trading platform. Since XM is a MetaTrader-only broker and the full MetaTrader broker, which means the platform is available on all devices, from desktop to mobile, tablet, and even the web-terminal. While MetaTrader becomes standard, the functions are various from brokers to brokers, and traders love XM setup with the convenient integrated tools and administrative areas.

Regarding execution, as the reputation of the fastest man on Earth, all executions are fast and precise, the automatic function receives good comments from traders. The function gets along well with the XM platform and improves its quality as well as the user experience.

MORE ABOUT TRADING EXPERIENCES IN XM BROKER

4. The Payment System

XM has a great payment system with top services. As the Asian regions are being XM current target, the system is wide open with electronic funding such as Moneybookers, Skrill, and Neteller, credit cards and bank wire transfers are available as well. Moneygrams and Western Union payments are trusted also. The number of traders from many Asian countries like China, Thailand, Indonesia, and Vietnam has increased despite the fact that forex trading is limited in those areas, thanks to the support of the local bank system in the countries.

5. Broker’s Support

Start with the learning system, in XM Learning Center, people gain benefit from weekly webinars in 13 different languages given by 18 expert instructors. The list of tutorial videos covers all topics, from basic to advance. There is also a strong in-house team which provides critical technical and fundamental analysis, and daily market recaps as well. The training courses get lots of thumbs up votes from the forex traders community, hooks up plenty of new traders from all over the globe.

The broker has a broad system of local offices with the active local staff members, which help traders overcome the language barrier and also prove its name as the strong and reliable hand. Furthermore, XM has the strong online support team available 24/7, live support on weekdays, with 22 languages. The local payment points and offices mean direct support, which makes things more interesting while you can meet other local traders at such locations. Face-to-face sharing and discussing always give you more fun rather than communicating through the computer screen for days.

Conclusion

To sum up, all broker has advantages and disadvantages, and XM is not an exception. From our experience for years tight to the strict standard, XM has great potential and the worth-trading broker it is. Account types, used to be the weakness, now become the notable strength; focus on the inner strength and serve what trader needs, all features that make XM the XM - the leading force in the online trading sector with the great commitment to the people it serves.

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