XM offers two types of accounts. Both are easy to understand and offer realistic spreads. Moreover, they are great value for money. Many brokers offer complicated account types that are overly complicated for the sake of marketing, but XM has opted for simplicity and focuses on its clients’ needs.
The XM trading platform offers commission-free Forex accounts. With an XM Ultra-Low Standard Account, you can trade for 0.6 pips – that’s less than $6 per 1.0 standard lot. However, you should keep in mind that the spread on other currency pairs is significantly higher.
In addition, XM allows you to place orders at any time of the day. Once you place an order, it stays open until the trade closes, and your account balance is updated in real time. Furthermore, you can open up to 200 positions at a time. XM also offers fractional pip pricing, which provides for tighter spreads and more accurate quoting.
XM was established in 2009 and has over a million clients across the world. It is regulated by CySEC and works with regulators in different countries. The company also has branches in Dubai and the MENA region, making it accessible to investors around the world. Therefore, XM is well-suited for investors who are new to forex trading.
With more than five million clients in 190 countries, XM has a reputation for being a fair broker. The company says it has processed 2.4 billion transactions without rejections. It also has over 450 employees worldwide. The organization believes that its clients will appreciate its customer-centered philosophy. Its clients are guaranteed to receive the best execution and tightest spreads.
XM excels in reliability and execution. Over ninety percent of all trades are executed within one second, with minimal delays. The company has an excellent reputation, and is trusted by both professional traders and retail traders. Its management team regularly travels the world to hold seminars and meet its clients. These seminars help traders improve their trading skills.
XM offers a wide range of CFDs. Currently, there are around 1,210 stock CFDs available. These CFDs include stocks, equity indices, and precious metals. Moreover, its clients can choose between cash or futures CFDs. The company offers a commission-free trading option for a small number of assets.
XM offers competitive spreads on the EUR/USD pair. These spreads are also relatively low compared to those offered by other global brokers. In addition, XM charges only low commissions for trading and other services. Moreover, the company does not charge any deposits or withdrawals. However, it does levy a $5 monthly fee for inactive accounts.
XM also offers a wide range of educational tools. They have dozens of webinars and hundreds of seminars held around the world. They also have a customer support desk that works seven days a week in different languages. Besides that, XM has a live chat option where customers can ask questions to a professional.