XM Pros & Cons | Get Information at a Glance

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 was awarded with several awards since its foundation and regulated by financial authority like IFSC.

In this article we’re addressing the main pros and cons of XM in each broker aspect.

XM

Pros

Cons

Safety

  • Negative balance protection
  • Regulated by IFSC
  • Segregate account funds
  • Over 3.5 million users
  • No client protection
  • Not regulated by top-tier FCA
  • Does not hold a banking license
  • Not listed on stock exchange

Offering of Investments

  • Forex and CFD trading
  • Stock and shares trading
  • Indices, energies, metals, and commodities available
  • Over 1,000 instruments
  • No ETF trading
  • No crypto trading
  • Limited indices trading options

Account Opening

  • Various account types
  • 11 base currencies
  • Low spreads and commissions
  • Islamic account option
  • High minimum deposit for shares account

Fees and Commissions

  • Low spreads and commissions
  • No deposit or withdrawal fees
  • No account fees
  • Inactivity fee

Deposit & Withdrawal

  • No deposit fees
  • No withdrawal fees oftenly
  • Various account currencies
  • Withdrawal fees on bank transfers less than $200

Platforms and Languages

  • Customized XM platform
  • Available on MT4 and MT5
  • Charting available
  • Available on Desktop / Web / Mobile platforms
  • Social trade
  • Notifications and alerts
  • No two-step verification
  • Old design

Research Tools

  • MT4 Tools
  • Newsfeed
  • Market ideas
  • Technical summaries
  • Economic calendar
  • No fundamental data available

Customer Service

  • Phone support
  • Email support
  • Live chat
  • No 24/7 support

Education

  • Demo account
  • Educational videos
  • Webinars
  • Platform tutorials
  • Seminars
  • Podcasts
  • None

FAQs

  1. How long does it take to open an account?
  • It takes about 5 minutes only to open your XM account.
  1. Does XM allow bot trading?
  • Yes, you can. All our trading platforms support the use of EAs.
  1. Does XM give a bonus?
  • Yes, and you can apply to the XM bonus program.
  1. Does XM allow scalping and hedging?
  • Yes, XM does allow scalping.
  1. Where is my money held?
  • It’s held in segregate accounts in order to avoid financial disasters.

 

  1. Is my credit card information safe with XM?
  • Yes, XM uses a safe technology to make all your information safe.
  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.

If you want more information, please check out XM Full Review.

 



Leave a Reply