XM’s customer support is available 24 hours a day, seven days a week, in a variety of languages. Live chat is provided as well, which is helpful in case of urgent matters. Additionally, the company offers phone support and weekend support. Its website also features a support chat feature, which is very convenient.
As a regulated financial institution in all relevant jurisdictions, XM has a good reputation for offering a combination of security and functionality. Moreover, its account types are easy to use and offer low fees. These advantages make it an excellent choice for any investor to start or further their career in trading.
XM also organized a stall at the event, where they were able to meet their event visitors face-to-face. They also conducted a financial workshop on investment opportunities and stock CFD trading. This workshop featured Habib Akiki, a Senior Market Strategist from Tradepedia. Habib gave a detailed market review for the year 2018.
XM is one of the largest retail brokers, with over three million traders in 196 countries. It offers a wide range of payment methods and has a clean record with five regulators. Although there have been isolated reports of withdrawal problems, all of these incidents were related to traders violating the terms and conditions of the broker.
XM’s trading hours are Sunday 2205 UTC through Friday 2150 UTC. During this time, most trading opportunities arise during the London session, which begins at 08:00 UTC and closes at 22:00 UTC. Meanwhile, the Asian trading session is led by Tokyo, which opens at 23:00 UTC and closes at 06:00 UTC. During these hours, the volume of trading is high, which results in tight spreads. The trading activity is largely dependent on short-term traders.
XM is regulated by the CySEC, which offers a level of investor protection to its clients. The CySEC maintains an Investor Compensation Fund (ICF) that compensates depositors up to EUR20,000 in the event of losses due to brokerage failure. XM has been in business since 2009, so the company has a proven track record. While these credentials are important, it is also crucial to conduct your own research before trading with any broker.
XM offers access to a wide range of mainstream financial instruments, including gold and silver. Additionally, it offers more than 900 instruments across six asset classes, including foreign currency exchange, commodities, and stock indices. The platform also provides a free currency converter. Users can input the currency they want to convert and it will display the exchange rate and total conversion.
The fees charged by XM are comparatively low. Unlike some other brokers, XM does not charge commissions. This means that you can trade with a smaller portfolio and with lower frequency.