XM Australia Forex is a popular trading platform with a high trust rating. It has been around since 2009 and is headquartered in Cyprus with a Sydney office. The company is regulated by the Australian Securities and Investment Commission (ASIC). It has won many awards for transparency and client care. It segregates client funds in top banks and limits the maximum leverage to 30:1 to limit risk. It offers over 1200 stock CFDs and over 57 Forex pairs.
XM Australia offers a variety of trading platforms, including desktop browsers and iOS/Android mobile devices. It also has a robust suite of analytical and educational tools. Another great feature is the large leverage, which is rare for Australian forex brokers. The XM affiliate program also offers a no deposit bonus.
XM offers several payment options, including credit/debit cards and bank wire transfers. Bank transfers can take a few days, whereas credit/debit card payments are immediate. In addition, the minimum deposit amount is small – only five dollars for a Micro Account, and 100 for a Standard Account. However, this amount varies depending on the type of deposit and validation status.
Another benefit of XM is the low trading fees. They only charge one per pip on most forex trades, which means the average spreads are 1.7 pips. You can open a demo account without a time limit to try out the platform. In addition, the platform is very user-friendly and opens quickly.
Another benefit of XM Australia Forex is that it has flexible trading options for any type of trader. You don’t need to be an expert to open an account, but you will need to prove that you have the proper documentation. This includes an identification document and an email address. XM also offers a wide variety of trading platforms and competitive fees.
In addition to a range of forex trading platforms, XM also offers a number of educational resources and market research tools. Their educational resources are top-notch, and they can help you make a good choice on the Forex market. In addition, they offer a free demo account for MetaTrader4.
There are four types of accounts available for forex traders at XM. All of them have a $5 minimum deposit. XM has zero commission on its Standard and Micro accounts. All other accounts are commission-free. The spreads are 1.6 to 1.7 pips on EUR/USD and GBP/USD.
Withdrawals can be made to your bank account within 24 hours, excluding weekends and holidays. Withdrawals over $200 are processed via wire transfer. Depending on the country you live in, this may take two to five business days. If you are based in Europe, XM can offer European client protection.
XM provides education and support for their clients. This includes a plethora of tools, including articles and video tutorials. Its education section features a variety of topics, including an introduction to the financial markets, money management, and trading strategies. XM also offers live training sessions and pre-recorded material.
