XM is one of the largest forex brokers in the world, and India is one of its top markets. With a number of companies based in top jurisdictions, including Cyprus, Australia, United Kingdom, and Belize, XM offers traders in India a variety of services. Trading accounts can be opened within minutes.
XM has an array of trading accounts, including share accounts, which do not offer leverage. The minimum trade volume is one share and spreads vary according to the underlying exchange. The company also offers an Islamic account for those who are of the Islamic faith. This account has no administration fee, unlike many brokers.
XM accepts credit and debit cards for deposit and withdrawal. You can also deposit via a local bank account. Withdrawals are processed in 24 hours and you can store your funds in an XM wallet if you wish to withdraw them. Withdrawals must be processed in the same currency as the deposit.
XM is a regulated online broker. It is a member of the XM Group, which is an international organization of regulated brokers. The company is based in Cyprus and is regulated by the Cyprus Securities and Exchange Commission and the Australian Securities and Investments Commission. In 2017, the company set up XM Global, which is regulated by the International Financial Services Commission.
There are over 1.5 million traders registered with XM, and the company offers a range of trading products and advanced trading solutions. The company is friendly to beginners and experienced traders alike, and aims to provide the best user experience in the industry. XM has a low minimum deposit requirement of 5 dollars and allows traders to trade on many popular platforms.
If you’re new to trading, XM offers a free demo account. You can use this demo account to practice before activating your live account. Demo accounts are available 24 hours a day, and you can keep them open until you feel comfortable. It also offers fee-free deposit and withdrawal services. Additionally, the brokerage also offers a free VPS service to all of its clients.
The company offers MT4 and MetaTrader 5 trading platforms, which are widely used by retail Forex traders. The MT4 platform offers over 100 trading instruments, low spreads as low as one pip, and a variety of analytical tools and indicators. Traders can use both the MetaTrader 4 and MetaTrader 5 platforms to trade currency, stocks, indices, and precious metals. It also supports mobile trading via an Android or iOS mobile app.