XM forex broker is a reputable company offering forex services. The company offers customer support in over 25 languages. Their staff is knowledgeable and dedicated. Moreover, they are available around the clock. XM has a branch in Cyprus which is regulated by CySEC. This branch also serves clients worldwide. Furthermore, it is authorized to operate in Dubai and the MENA region.
XM was established in Cyprus in 2009 and today, it has customers in over 196 countries. The company has staff members who can speak more than 30 languages. Moreover, the company has offices in Australia, UK, Belize, Greece, and Cyprus. XM’s success is due to its focus on meeting the needs of its clients. The company also has an extensive MetaTrader platform that provides traders with all the tools they need.
XM’s trading fees vary depending on the assets you choose. However, they are competitive when compared to global brokers. Moreover, they do not charge you for making a withdrawal or a deposit. Other fees that XM charges include inactivity fees and inactive account fees. While the firm has no minimum deposit or withdrawal requirement, it does charge a $5 monthly inactive account fee. Therefore, it’s important to research the fees associated with each product before you make a decision.
XM is a regulated broker that offers a variety of forex trading services. It is a member of the IFSC, ASIC, and the Financial Services Commission of Cyprus. In addition to the forex trading platform, XM also offers CFDs on commodities, stocks, and indices. It has more than five million clients globally.
When establishing an account with XM, you must first verify your identity and residential address. This can be accomplished through official identification documents. You can also fund your account with $5 through a credit card or bank transfer. If you choose to use a credit card, you can pay in the same currency as you used for the deposit.
XM offers a wide range of trading options for both beginners and professionals. Depending on your needs, you can choose from Standard, Micro, and Zero user accounts. All of these accounts have different leverage levels. A Micro account allows you to open up to 200 positions and has a $5 minimum deposit. Micro lot accounts also have lower spreads and require a minimum deposit.
XM has a robust educational center. It offers free weekly webinars and other educational materials. Moreover, its educational materials are available in various languages. XM also offers live analysis of the markets. With the help of this service, you can learn about basic trading strategies and develop your trading skills.
Withdrawal requests can be made through the same methods as deposits. However, bank transfers of less than $200 incur a $20 transfer fee. In addition, withdrawal requests cannot be processed until your account is validated. To do this, you must provide proof of your identity and residency. This proof should include the name and address of the client and must be older than six months.