XM Platforms | How XM Platforms Work

Introduction

XM broker has been a leading forex and CFD broker since 2009. It has over 3.5 million active users with more than 2.4 billion trades executed through it. It has been awarded with several awards since its foundation and regulated by financial authority like IFSC.

XM works on MT4 and MT5 trading platforms as well as its own mobile application. In the following sections we will dive deeper into each one of them in detail.

XM – Mobile Application

Languages

XM mobile application is available in a number of languages as the following table shows.

XM Mobile Application – Languages Table

You can also change the language from Settings> Languages and choose the language you prefer.

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XM Mobile Application – Languages

User interface (UI)

The UI of the XM Mobile application is very simple and user-friendly. On the other hand, it’s an out-of-date design.

XM Mobile Application – UI

Login and Security

Unfortunately, XM mobile application does not have a two- factor authentication method for login.

Searching

XM Mobile Application has a geed searching option and you can search whether by category or the instrument name.

XM Mobile Application – Search

Placing orders

There are 4 types of orders:

1. Market
2. Limit
3. Stop
4. Trailing stop

In addition to those 4 types, there’s another order which is the time limit ‘Good ‘til time’ or GTT.

XM Mobile Application – Place Orders

Notifications and alerts

Using the XM Mobile Application, you can set notifications in your phone for closed trades and pending orders as well.

XM Mobile Application – Notifications

Portfolio and reports

XM has clear fees and portfolio reports with all you need to know information.

MT4 Platform

Languages

MetaTrader 4 is available in a number of languages like:

MT4 Languages

User interface (UI)

MT4 has a very customizable UI that you can adjust according to your needs and preferences. On the other hand, it seems hard to find some of the features inside.

MT4 – Mobile Version – UI

Login and Security

Unfortunately, the MT4 does not provide a two-step verification method for logging in, and it does only support a one-step login.

Searching

Searching using the MT4 platform has two different options:

• You can search by categories and find assets.
• You can also type the name of the asset and search for it manually.

MT4 – Mobile Platform – Search

Placing orders

MT4 has a simple order types which are:

1. Market
2. Limit
3. Stop
4. Trailing stop

In addition to those 4 types, there are other orders which are the time limit ‘Good ‘til time’ (GTT) and ‘Good ’til canceled’ (GTC).

There’s also an order confirmation feature in MT4.

Notifications and alerts

Unfortunately, the MT4 web trading platform does not have an option to set price alerts and notifications unlike the desktop and mobile versions.

MT4 – Mobile Version – Notifications Settings

Portfolio and reports

Under the ‘History’ tab, you can find your portfolio reports with a clear fee description.

MT4 – Mobile Version – Portfolio

MT5 Platform

MT5 is a free application for traders allowing them to perform technical analysis and trading operations in the Forex and exchange markets.

Languages

MT4 does support over 20 languages including English, French, Spanish, Italian, Japanese, and Chinese.

User interface (UI)

MT5 was launched in June, 2010. It has about 1 million users worldwide. It also has a good interface which is similar to MT4 with the main functionalities available. MT5 is more suitable for advanced traders.

MT5 desktop version

MT5 – Mobile Version

Security

MT4 encrypts your trading data with all of your information from cyber attacks as well as not revealing your IP address while trading using the platform.

From a login perspective, MT4 has a two-step verification method as well to protect your account from hacks.

Research

MT5 offers financial and forex news from international agencies and provides a daily broadcast of dozens of newsletters from global events. MT5 also provides you with powerful and clear searching tools.

MT5 search

Placing orders

MT5 has the same order types as the MT4 platform which are:

• Market
• Limit
• Stop
• Trailing stop

In addition to these 5 order types, the MetaTrader 5 platform has two more order options which are:

• Buy stop limit
• Sell stop limit

Like the MT4, MT5 has ‘stop loss’ and ‘take profit’ options while trading as well.

Notifications and alerts

MT5 has instant notifications and alerts in its system to never miss an opportunity in the market.

Reports

The MT5 platform carries news reports from international news agencies and also sports an economic calendar.

4. FAQs

1. Does XM allow bot trading?

• Yes, you can. All our trading platforms support the use of EAs.

1. Does XM allow scalping and hedging?

• Yes, XM does allow scalping.

1. How do I login using the MT4 mobile platform?

• Steps:

1. Go to ‘Settings’

2. Click on ‘Manage Accounts’ or ‘Settings’

3. Then click on the small plus sign or select ‘New Account’

4. Then select ‘Log in to an existing account’

5. Search for the broker name

6. Select the server your account was set up on

7. Enter your login credentials and password

8. Click on ‘Sign In’

1. When trading forex, will you lose more than your initial deposit?

• Both our MetaTrader 4 and XM platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
• Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balance amount in your account above your required margin.

1. Can I login to more than one account from the same computer?

• Yes, you can do such a thing by using the MT4 Multi Terminal.

1. Can I login to the same account through different devices?

• Yes, you can login to the MetaTrader 4 platform using the same password and username through different devices.

1. When will my demo account expire?

• At XM, demo accounts have no expiry date. So, you can trade virtually as long as you want.