XM Forex is a broker that launched in 2009. It has a team that speaks 30 languages and serves clients from over 196 countries. Its headquarters is based in Cyprus, which is regulated by CySEC. The company has a branch in Dubai and is also authorized in the MENA region. Its customer service desk is staffed around the clock and is available in many languages.
The broker claims to have over 5 million customers from 190 countries and has completed 2.4 billion transactions without rejection. This number is impressive, given that XM claims to be a fair broker. The company has met with its clients in over 120 countries to improve the trading experience. In addition to this, it employs more than 450 people worldwide.
XM charges very low commissions for trading. In fact, their Ultra-Low Standard Account has spreads as low as 0.6 pips. This works out to $6.00 per standard lot. Other currency pairs have higher markups. The fee structure differs for each asset class.
XM offers more than 55 currency pairs. In addition, it offers direct access to the global equities market. This allows you to speculate on the direction of equities and earn extra money. The platform also offers 24 hour customer support and real-time market information. This makes XM a good choice for those who are unsure about the market.
XM offers multiple payment methods in the United States, including credit/debit cards. While bank transfers can take several days, credit/debit cards are instant. XM also charges no withdrawal fees. However, there is a $15 fee for a bank transfer under $200. Furthermore, the withdrawal amount can not exceed the amount deposited.
The company has earned several awards and has a high reputation in the industry. It also offers support in several languages. It also boasts an impressive number of assets. Moreover, XM has a comprehensive educational suite and provides round-the-clock customer service. However, one downside to this forex broker is the fact that it has a limited portfolio for clients based in the EU.
XM’s account opening process is easy. You can visit the website to open an account. Select the link in the top right corner of the page. You can also open a demo account with the company to test out your strategies without risking your capital. The process only takes a few minutes.
XM offers four account types. You can choose between micro, standard, and ultra low accounts. Each of them has different features and benefits. Moreover, they are all easy to understand and use. Furthermore, you can trade in the major currencies, including USD, EUR, GBP, and ZAR.
If you are looking to practice trading without risking your money, you should take advantage of the XM demo account. The demo account provides you with 100,000 virtual dollars and can be used on the desktop, web, or mobile platforms. Additionally, the demo account has no expiration date. However, if you are inactive for 90 days after your last login, the account will be closed. However, you can create another one anytime. However, you can only have up to five demo accounts at a time.