The XM Group has been around since 2009 and has clients in 196 countries. It is well regulated and has a support team that speaks over 25 languages. It is one of the most renowned brokers in the world and is aimed at offering the best user experience. The company has a reputation for excellence and is a preferred choice for many traders.
The company offers over 1000 instruments including 57 Forex pairs. Spreads are low, ranging from 1.7 pips on the Standard Account to just 0.8 pips on the Ultra-Low Account. Minimum deposits are also low, starting from 5 USD. The broker also offers a variety of trading platforms, which is important if you are looking to use different trading strategies. XM also offers Malay customer support, which can be helpful for those unable to communicate in English.
XM has an outstanding customer support team that responds to queries quickly. They have support representatives that speak multiple languages, including Malay, English, Japanese, Chinese, and Greek. You can contact them by email, live chat, or phone. Its customer support is available seven days a week during market hours.
For a new trader, a demo account is the best place to start. This provides the ideal learning environment, with replica conditions without risking your own funds. The demo account can be used unlimited times for free, but it will expire after 30 to 90 days, depending on where you are located.
Another great feature of XM is its lack of commission-based Forex fees. The company’s Ultra-Low Standard Account charges as little as 0.6 pips, which is equivalent to six dollars per 1.0 standard lot. Other currency pairs, like EUR/USD, have higher markups.
XM has a reputation for high customer service, and it offers a wide range of investment instruments. You can choose from over 55 currency pairs and CFDs on stocks, precious metals, and more. You can trade with leverage up to 1:888 and use a variety of different trading strategies. The firm also offers Islamic swap-free accounts and offers free education and research for beginners.
XM has an excellent reputation and a long-standing history in the industry. It is regulated in Cyprus, Australia, and Belize. Moreover, its fees are competitive and its minimum deposit is very low. Its reputation in the industry is impressive, and its long-standing history reflects its reliability.
XM’s reputation for research is unquestionable. It provides high-quality daily market recaps and technical and fundamental analysis articles. In addition to these, it also features XM TV, which offers live, in-house market commentary. It competes with leaders in both video and audio.
XM also offers a wide range of compliances. This makes it very flexible and suitable for traders around the world. Moreover, its client-first philosophy is evident in its treatment of clients. It offers negative balance protection world-wide, meaning that clients cannot lose more than what they have deposited.