The Forex XM Arena is a contest platform where you can participate in contests. To participate, you must register for an account. This only takes three minutes and gives you access to the Members Area. Once registered, you can register for contests and create a nickname. This nickname will be your alias in the contest rankings.
Forex XM Arena consists of 10 rounds each month. In each round, you compete against other Forex traders for $50,000 in cash prizes and a trip to the Semi-Finals and Final Event. If you get to the semi-finals, you can compete for a chance to win up to $500,000.
XM’s trading platform offers four different types of accounts. The Micro account requires a minimum deposit of only $5, while the Standard account requires a minimum deposit of at least $50. The Ultra Low Spread account is a great choice for experienced traders and scalpers alike, as it offers a zero-commission trading environment. The Shares account, on the other hand, is solely for trading share currency, requiring a minimum investment of $10,000. This account is also the highest risk account, but you can trade up to $10,000 with no transaction fees.
For new traders, XM offers a free demo account. It is available to all clients, and there is no expiry date. You can have as many demo accounts as you wish. If you’re new to forex trading, you can use the free demo account to test the waters. XM offers a mobile app for CFD and forex trading, and has 24×7 customer service.
XM is a multi-award-winning forex broker. Founded in 2009, XM is a regulated broker. It has over 5 million clients across 196 countries and employs 600 professionals. Its trade execution has exceeded 2.4 billion transactions without re-quotes or rejections. You can trade for as little as 0.6 pips on the XM trading platform. XM also charges an inactivity fee for dormant accounts.
XM offers an Islamic trading account for traders of the Muslim faith. This account charges no swap or rollover interest and only requires a small administration fee for open positions. This account is available only to clients of the Muslim faith and helps them trade in the forex market in accordance with Sharia law. You can open an account in just a few days.
The XM platform also gives you access to mainstream financial instruments. It offers over 1000 instruments across six asset classes, including 55 currency pairs. Additionally, it offers CFDs, stocks, stock indices, precious metals, and energy. In addition, you can join XM’s learning center for webinars and seminars to increase your knowledge and experience.
The FX Arena also provides members with several ways to participate in contests. Traders can participate in competitions by using expert advisors or trading on a specific pair. This way, they can choose which type of contest is right for them.