The XM Forex logo is easily recognizable due to its professional look and feel. With offices in more than 120 countries and over 5 million clients worldwide, the company aims to be an ethical and reputable broker. The company’s customer service department is dedicated to meeting the needs of their clients and is available 24 hours a day. It also has representatives that speak many languages.
Founded in 2009, XM brokerage has earned considerable recognition in the online trading industry. Its professionalism and client-oriented approach have made it popular with traders of all levels. Since its launch, the company has expanded its operations worldwide. Today, over 5 million traders use its services in 196 countries. The company is regulated by CySEC and ASIC and has been recognized as one of the fastest-growing and best Forex brokers in the industry.
XM offers competitive commissions and spreads. It also does not charge for its Micro, Standard or XM Zero accounts. XM guarantees same-day withdrawals and does not charge for overnight trades. In addition, it offers fractional pip pricing to help clients profit from even the smallest movements. The company also offers a range of leverage, ranging from 1:2 to 1:30. Their margin requirements are constant throughout the week and do not increase over the weekends.
Trading fees are another common concern for traders. These fees occur when a trader buys or sells currency. This can include commissions, spreads, financing rates, and conversion fees. Other fees arise from non-trading activities such as withdrawal fees and inactivity fees. XM clearly lists the relevant fees for each asset class.
XM offers a demo account that allows new traders to gain trading experience without risking their capital. Once a live account is activated, clients can continue to use the demo account. The demo account is available for as long as the client wishes to use it. The company also complies with ESMA rules about bonuses and contests, which makes it a legitimate choice for traders. Additionally, XM offers fee-free deposits and withdrawals. In addition to its education center, the brokerage offers webinars and seminars for its clients.
XM is regulated by the Financial Sector Conduct Authority in South Africa (FSCA). They are licensed to conduct financial services in South Africa. Their FSP number is 49976. However, this does not mean that XM will act as your principal in any transaction. You should also do your own due diligence before deciding to deposit your money with a company.
In addition to providing trading platforms, XM also offers educational materials that will help you understand risk management and market trends. Additionally, clients can use their mobile phone to access the trading platform. They also have a web trading platform, Metatrader 4, and Metatrader 5. This allows clients to trade from a web browser. The company offers over 1,000 trading instruments through MT4 and MT5.