XM Forex Social Trading allows its clients to trade with virtual accounts with $100,000 virtual base currency. The virtual account is designed to allow people to experience the features of a live trade under real market conditions without having to risk any money. XM limits the number of demo accounts each client may open to five. This enables a person to practice different trading strategies before committing any money to the live account.
XM offers customer support in several languages. The support desk is open twenty-four hours a day, seven days a week. Representatives are available via live chat or telephone. XM has several international offices. This allows people to get support from people who speak their language and can answer any questions they have.
The support available at XM is outstanding. It has a live chat service that allows new traders to get the assistance they need to succeed. In addition, the company educates its users about the MetaTrader platform and its features. The company also offers the full suite of MetaTrader software to its clients.
XM is one of the largest retail brokers in the world, with over 3,500,000 traders from over 196 countries. It has a clean record with five regulatory bodies and offers more than 25 payment methods. Although there are some stories of problems with withdrawals, these stories are largely speculative. In any case, the alleged issues were largely caused by traders violating the terms and conditions of the broker.
Fees are not a problem at XM. The company offers commission-free accounts with spreads as low as 0.6 pips, which is the equivalent of six dollars per 1.0 standard lot. The average spread is around 0.8 pips. The only exceptions are EUR/USD/JPY, which have a higher markup.
XM offers over 55 currency pairs on its platform. It does not offer binary options or futures. It also offers five energy products including gold and natural gas. The platform also has an Islamic account and a swap-free option. In addition, XM has a referral program that rewards its members with up to $500 in bonus money.
XM forex social trading is a popular choice among experienced traders as well as beginners. It has the best trading tools and the best collection of trading tutorials. Despite the fact that XM is not the only site with social trading, it is a reliable choice for traders. The company has a strong track record when it comes to safety and security.
The platform has a mobile app for iOS and Android devices. Traders can download the application directly onto their iPhone. They can customize the experience to their needs. In addition, XM has a Droid Trader mobile application, which can be used on any Android device.