XM is an established forex broker that offers a variety of trading solutions. Its client base spans across all continents and it has an extensive research and learning section. Its website offers a comprehensive library of educational materials, as well as free webinars and videos. It also offers a demo account where you can trade with $100,000 virtual funds.
XM is regulated by CySEC and has an Investor Compensation Scheme. This scheme covers your account if the brokerage firm is unable to meet its obligations. It follows strict compliance guidelines and is monitored by 13 different regulatory bodies. XM also boasts that it has executed over 2.4 billion trades without any re-quotes or rejections.
The company offers competitive spreads and other features to attract clients. For example, the EURUSD average spread is only 0.1 pips, which is among the lowest in the industry. Other advantages include competitive commissions and bonuses for new and returning clients, and diversified mobile applications. Additionally, the company has a top-notch customer support program.
In addition, XM also offers NBP. The service enables traders to use a variety of risk management strategies. Clients can set up stop-loss orders and use price alerts to reduce their risk levels. The platform also allows them to trade in pairs with fluctuating prices with a fractional pip price.
When you open a new account with XM, you will receive a 30 USD bonus credit. This bonus credit is equivalent to your base currency, and you can use it to trade without a deposit. However, you cannot withdraw the bonus credit. However, you can withdraw the profits of your winning trades.
XM offers both Micro and Standard accounts. You can use a micro account if you only have a few hundred dollars to invest. In contrast, you can open a Standard account if you are willing to deposit a higher amount. In a standard account, you can use a standard lot of 100,000 units. Withdrawal requests can take up to five business days. Withdrawals will be processed in the currency that you originally deposited.
The XM Group offers tight spreads on more than 50 currency pairs. It also offers fractional pip pricing, which allows for more accurate quoting. XM has a global client base, which means that its T&Cs vary from country to country. The company operates accounts according to ESMA rules. It also offers a maximum leverage of 1:30 and Negative Balance Protection. Besides, it offers a full range of trading tools and platforms.
Negative balance protection can help you avoid the danger of losing money. This protection can prevent your account from falling into debt in the event of a loss. A loss of $1,500 would wipe out a $1,000 balance.