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Support is available in a wide range of languages, with native speakers providing assistance to clients in over 25 languages. Two tier-1 authorities, one tier-2 authority, and one tier-3 authority regulate XM. It’s regulated by the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities & Investment https://traderoom.info/nordfx-broker-review/ Commission (ASIC) and the Financial Conduct Authority (FCA). For example, Tradepedia, the company’s in-house video course, is an excellent collection to reference for newcomers. With 39 videos spread throughout 7 chapters and high-quality coverage for both beginner and advanced videos, the series is undoubtedly helpful.

Trading Point of Financial Instruments Ltd, XM’s first entity, was established in 2009 in Cyprus and is regulated by CySEC. Trading Point of Financial Instruments UK Ltd, XM’s parent company in the United Kingdom, is regulated for its Trading.com brand in London. You can trade all the instruments available at XM on the MT4 platform except individual stocks, which can only be traded on MT5. Micro and Standard account spreads on all majors start as low as 1 pip, while XM Zero account holders can expect spreads as low as 0 pip. XM may require copies of your credit card before approving a withdrawal request.

What Fees, Spreads, and Commissions can be expected from XM?

We do not provide our service to citizens of the United States of America, Canada, EU countries, Iran, North Korea, and Belize. XM does not direct its website and services to any individual in any country in which the use of its website and services are prohibited by local laws or regulations. When accessing this website from a country in which its use may or may not be prohibited, it is the user’s responsibility to ensure that any use of the website or services adhere to local laws or regulations. XM does not affirm that the information on its website is suitable to all jurisdictions. What we advertise is what we give our clients, regardless of the size of their investment. There is a reason why over 10 million clients choose XM for Forex Trading, Cryptocurrencies Trading, Commodity Trading, and Stocks, Metals, and Energies Trading.

These include market reviews, stock market news, forex news, investment-themed articles, technical analysis, videos, and a learning center where webinars, seminars, and video tutorials are presented. Clients receive their money on the same day for payments made via e-wallet. Payments by bank wire, credit card, or debit card can take between two-to-five business days. Withdrawals can only be processed via the method used to deposit the funds.

How to Open an XM Account – Step-by-Step Guide

The International Financial Services Commission (IFSC) was established by the enactment of the International Financial Services Commission Act (IFSCA) on 3rd May 1999. Also, we found that the service is of good quality with reliable answers, which confirms again XM’s client-oriented policy. So the platforms gaining high ratings due to their international recognition are always a plus towards brokers’ proposals. While the XM Accounting team processes withdrawal requests quite quickly within 1-3 business days it depends on the country the money is sent to, as various rules and policies apply. XM’s minimum deposit is $5 for a Micro Account or a Standard Account.

• With offices in multiple locations around the world and clients from over 196 countries, XM has built a reputation as a reliable and competitive broker for traders of all levels.
• However, a disadvantage is the lack of a toll-free number, as well as the lack of social media and fax support.
• Traders also have the flexibility to choose from a wide range of financial instruments and select the ones that best suit their trading preferences and objectives.
• FBS and XM have well-established operating histories and rank among the most trusted and secure brokers in the industry.

In addition, there are very well-organized tutorials, videos and tools at your disposal. MetaTrader is known for its clean and good feel while trading, also its Charting are among the most powerful offerings in the industry. So, the same as we do, you will enjoy its look and functions offered. However, always choose your leverage smartly, as well as the entity under which you would like to trade, which you may learn more through the XM education center, see snapshot for EU clients below. We consider XM a safe broker to trade Forex and CFDs, since XM is regulated and licensed by several top-tier financial authorities including FCA, ASIC, CySEC. Respectively Micro and Standard accounts offer fixed or variable spreads, while XM Zero accounts have tight spreads with a commission.

XM Safety and Security

For example, clients who maintain an account balance (equity credit) of $5,000 or the currency equivalent get free access to XM’s Virtual Private Server (VPS). ESMA regulations prohibit CFD brokers from offering bonuses to retail investors in Europe to encourage CFD trading (or a greater volume of trading), including signup bonuses or fee rebates. Traders with Micro or Standard accounts can open and fund an account with a minimum of $5, while XM Zero accounts require a minimum deposit of $100. First, you fill in some basic information including your name, address, and some information about your financial background and trading experience. XM’s free demo account is popular among traders to practice ideas or even experienced traders to test strategies.

• XM forex broker is a popular choice among traders, offering a range of account types, trading platforms, and educational resources.
• A withdrawal request will be processed by the XM back office within 24 hours.
• The main branch located in Cyprus regulated by CySEC, yet offices are truly cover global needs and serve through Australia, UK, Belize, Greece also authorized in Dubai and MENA region.
• XM pricing and costs are based on a spread, in case you will open Micro or Standard account.
• We selected XM’s closest competitors from among brokers providing similar services.
• FSA is also responsible for the registration of international business companies, foundations, limited partnership and international trust in Seychelles.

XM serves 5M+ traders from 190 countries and offers traders one of the most efficient order execution environments, with 2.4 billion trades executed without requotes or rejections. XM maintains the MT4/MT5 trading platforms, a broad-based asset selection, and competitive trading costs. XM.com warns all potential customers that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors. The minimum deposit amount required to register an XM live trading account ranges from $5 USD – $10’000 USD. Along with good customer service, every client can access numerous educational materials through XM Learning Center, fulll of trading data and other necessary information that brings trading to a better level.

Trade Stocks, Forex, Currency

Our management has visited over 120 cities globally to understand clients’ and partners’ needs. All information on 55brokers.com is only published for general information purposes. We do not present any investment advice or guarantees for the accuracy and reliability of the information. XM offers a huge variety of products so you can enjoy a great choice that meets expectations and preferences.