XM is a broker that provides access to mainstream financial instruments. It offers over 1000 instruments in six asset classes, including currencies. Other instruments include commodities, stock indices, precious metals, and energies. Traders can open an account in either US dollars or euros and choose from three account types, ranging from standard to micro accounts. The company’s website also offers educational videos. In addition, XM offers a negative balance protection service for residents of the EU, which means that their losses are limited to the amount of deposits that they make.
XM also offers a free demo account. It is open to anyone who wants to practice trading before investing real money. There is no expiration date, and clients can open as many demo accounts as they want. They can even have five demo accounts, each with up to $100,000 in virtual trading funds. Demo account holders have access to 24-hour support and educational materials.
Withdrawals can be made through e-wallet or bank wire transfers. XM processes withdrawal requests within 24 hours. However, it may take up to five business days for funds to reach your account. Withdrawals are processed in the same currency as the deposit. XM does not charge any fees for withdrawals, unless they are processed through the same method as deposits.
XM is a globally recognized broker that was founded in 2009. It employs over 600 professionals and serves more than five million clients from 196 countries. The broker has a low average forex fee and offers support in several languages. The company also charges an inactivity fee for accounts that sit dormant for 90 days.