XM Canada Forex is a broker with a number of attractive features. The rates for overnight financing are competitive with the industry average. It also offers an extensive range of platforms and flexible options for traders of all levels. The company’s customer support desk is available 24 hours a day, seven days a week, and is available in many international locations. Customers can also chat live with a live representative to ask questions.
The company has over 2.5 million clients in 196 countries and has conducted over 1.4 billion trades. The management team has traveled to over 120 cities to meet their clients and partners. They have also held over 100 seminars to educate traders. All of these activities have contributed to XM’s impressive client retention rate. Currently, there are over 300,000 live accounts with XM, with over 300 brokers worldwide.
XM offers commission-free Forex. Its XM Ultra-Low Standard Account allows you to trade with spreads as low as 0.6 pips, or $6.00 per 1.0 standard lot. Other currency pairs come with higher markups. Moreover, XM charges an inactivity fee after 12 months of inactivity.
XM offers a range of account types, each with its own pros and cons. All of them are simple to use and offer good value. While some brokerages tend to offer complex account types for marketing purposes, XM focuses on their clients’ needs and preferences. They have an outstanding economic calendar and a variety of technical tools to help traders make informed decisions. They also offer a wealth of educational resources, including live seminars and educational videos.
A Canadian investor can fund their account with a minimum deposit of $10. The company accepts deposits in 23 currencies, and offers over 100 forex pairs. Spreads as low as 0.2 pips are another attractive feature. The company has offices in Quebec, which means they’re accessible to traders in the country.
XM is a regulated forex broker with offices in several countries around the world. IFSC, ASIC, and the International Financial Services Commission regulate its business. Its clients are protected by strict regulatory standards. The company’s headquarters are in Cyprus, and its affiliates are located in at least eight other countries.
Withdrawals are processed within 24 hours, and XM offers a variety of payment options. They accept credit card, debit card, and e-wallet deposits. Bank wire withdrawals can take between two and five business days to clear. Withdrawals are processed in the same currency as the deposits.
XM also offers a demo account that allows users to test out trading strategies. The demo account allows traders to invest ten times their actual capital. In addition, they can select the maximum leverage from sixteen options.