Choosing a forex broker is one of the most complex tasks for a trader, and various people struggle to find a reliable broker. That’s why we have decided to review the XM group to help you decide whether to go for it or not.
XM is amongst the most popular forex brokers platform with a large customer base globally. The most common question of a client is whether the broker is legitimate. So, XM is well regulated by the most reputed financial authorities of tier- 2 and tier- 3, including the Financial conduct authority (FCA) and the Australian Securities & investment commission (ASIC). The Forex brokers have over 10 million clients worldwide, which shows how genuine the platform is. XM offers a wide range of financial assets to trade in, such as forex, comex, stock, indices, crypto, and energies.
So you can choose the best account type that suits your need. You don’t have to pay commissions with any other account except for zero accounts. Also, the account opening procedure with XM brokers is smooth, fast, and uncomplicated.
The Forex broker platform has offered its products and services for over a decade. At present, it has users in more than 190 countries. XM is a trusted broker with years of experience and an extensive customer base that makes it suitable for beginners, advanced, and intermediate traders. The best part about the trading platform is the quality of education, research, and analysis tools is excellent. You can get access to webinars, trading courses, and videos on the platform.
The fee structure of XM brokers is also less complex and more transparent to ensure client satisfaction. XM offers leverage up to 1000:1, which is very high compared to other brokers’ platforms. So for the advance traders who mainly trade in leverage, it is a great option. However, too much leverage is also not good, especially for beginners, as the risk associated with it is also high. You need only 5$ to open an account with it. However, traders with XM shares account requires a deposit of at least $10,000 to trade for non-exchanging traded securities.
XM also provides its client with 24/7 customer support; the best part is you don’t need to write an email to lodge your complaint. The broker’s platform offers the facility of live chat that too in more than 20 languages. So you can file complaints or ask your queries whenever you want. Concerning educational material, technical and fundamental analysis tools, leverage facility, and safety issues, XM stands out from the crowd.
OUR ASSESSMENT OF XM
However, with XM, you can get access to the demo account, and that too with no expiry limit. So, you will have proper time to analyze its services and compare it with others.
We have analyzed the past performance and customer reviews of the platform and found out that there are almost positive reviews about the broker. Also, you can check these reviews and analyze them. XM also has a website where you will find all the related information. So, before subscribing, it is advisable to visit the website.
There are various currency trading strategies for a trader to select in the forex market. The best strategy in Forex trading depends on the requirement of the individual, like time frame, decisive nature, etc. Even the best forex trading strategy cannot give a trader full-proof results. There are chances of losses even after the effective implementation of the currency strategy. However, a trader can reduce the chances of loss by using a proper plan for trading a currency pair.