There are a few things to be aware of when looking for a forex broker. XM is an example of a broker that focuses on the MetaTrader trading platform. It has a range of technical indicators and tools that can be used to make informed decisions. Moreover, it offers mobile applications for both iOS and Android, which allow users to access their trading account functionality right from their mobile devices. These apps include three types of charting, more than 30 technical indicators, and a trading history journal.
Another factor to be considered is the level of support available from XM. The company offers customer support in over 25 languages. It is also regulated by several financial regulators, which makes it a safe bet for new traders. In addition, it offers a demo account with no time limit.
XM was founded in Cyprus in 2009. The company is regulated by the Cyprus Securities and Exchange Commission and has an Investor Compensation Fund. It is also regulated in the UK by the Financial Conduct Authority. This means that if you lose money, you can claim your money from the XM Investor Compensation Fund and receive compensation.
The XM Group also offers a number of options for withdrawal. You can use bank wire transfers, credit/debit cards, or e-wallets to withdraw your funds. In addition, you can choose the currency of your withdrawal. You can choose between a few different currency pairs. The XM Group offers a number of payment options, including Western Union.
XM’s website offers a wide range of educational material. The site has videos in multiple languages and time zones, so you can get a good idea of market conditions from any part of the world. Traders can also make use of the MetaTrader 4 and MetaTrader 5 trading platforms.
XM’s fees are relatively low. The company charges no deposit or withdrawal fees, which is below the industry average. The XM Micro and Standard accounts are priced based on spread, which is the difference between the average price of currency pairs. The spread is a fraction of a pip. The spread varies according to the type of account, currency, and regulatory requirements.
XM also offers a free demo account to help new traders get started. It is available 24 hours a day, and has no expiration date. In addition, clients can apply for another demo account at any time. Traders may have up to five demo accounts at a time, and each demo account has all the benefits of the real account. In addition, the XM demo account gives access to virtual trading funds worth $100,000. Furthermore, the XM demo account comes with 24 hours of technical support and educational materials.