While XM does not have the best platforms, it excels in other areas, including market coverage and pricing. Moreover, their customer support team is available twenty-four hours a day, Monday through Friday. Besides, their support representatives speak more than 25 languages. In addition, they offer live chat support.
XM’s account types are easy to use and understand, and their value proposition is very attractive. Other companies tend to make their account types complicated for marketing purposes, but XM has chosen to focus on the needs of their clients instead. They offer a variety of account types, which include demo, standard, and XM Zero.
XM has a regulated status in many countries, including the United States, Australia, and Cyprus. These agencies have strict compliance guidelines for brokers, including submitting financial statements on a regular basis, maintaining adequate capital, and segregating client money. The company also operates in several other countries, including the United Kingdom.
The spreads at XM are low, with the average EURUSD spread being between 0.1 and 0.8 pips. This is one of the lowest spreads available. However, you should choose your leverage carefully. The XM group’s minimum spread is 0.1 pips. These are low enough to be acceptable for traders with smaller portfolios and less frequent trading. This means that traders with low risk tolerances can invest more funds with the XM Group.
The XM Group is an established financial services company, with a track record that spans more than two decades. This firm has won many awards in the industry. It also offers customer support in many languages. In addition, it has executed more than two billion trades with no re-quotes or rejections. XM charges an average fee for forex and CFD trading and a ninety-day dormant account fee.
The XM Group also has a regulatory framework that protects its account holders. Its Investor Compensation Scheme is governed by CySEC and carries a strict set of compliance guidelines. This company is also regulated by 13 different regulatory bodies. Moreover, it offers several account types, such as standard, micro, and ultra-low accounts. Different payment methods are supported at XM, including Western Union.
XM Group accepts traders from most countries. However, there are some restrictions, such as the United States, Canada, and Israel. In addition, it does not offer trading in Argentina or Iran. Therefore, XM is an excellent choice for traders who want to start or advance their careers. You can also find a demo account to practice your skills and trade on its platform.
XM maintains a “no hidden fees” policy. It covers all transfer costs and guarantees same-day withdrawals. It also offers a fractional pip pricing system, which means that clients can benefit from even the smallest movements. Moreover, clients can take advantage of leverage ranging from 1:30 to 1:2. Additionally, the margin requirements remain stable throughout the week and do not increase significantly on weekends.