XM is one of the popular trading floors that many traders know, not only in the UK but also throughout the international market. What makes the XM trading platform so popular and trusted by investors? Are there any special advantages and are there any disadvantages to be aware of? Let’s go into detail about review XM through the article of Forex Trading right below.
Overview of XM platform (XM Global)
XM Global stands out with its wealth of human resources, owning more than 900 experienced financial experts and providing customer support services in 30 different languages. The next parts of the article will tell readers more useful information about the XM floor.
Basic information about XM
XM is a leading broker in the field of forex and commodity trading. XM Floors offers customers a series of advanced features. Including trading forex, shares CFDs, futures CFDs, stock indices, metals, energies, and cryptocurrencies.
Experts review XM very highly because of the low fees for CFD trading and withdrawals. Additionally, the account opening process is simple and quick, supported by a variety of educational tools such as webinars and demo accounts. However, the product portfolio is limited and forex and stock index CFD trading fees are average. It also stands out for its transparency and availability of all information, along with fast order execution, attracting special attention from Japanese investors, where service and delivery requirements are high. accuracy.
See more: Together XM Forex: Master the game, increase income
XM Global: Description of popularity
This is one of the leading Forex brokers, serving more than 2,500,000 customers from 196 countries, and has received many prestigious awards in the industry, such as the Best FX Exchange in Europe 2018 award from World Finance Magazine and World Finance Magazine. Best FX Service Level 2019. XM UK offers a variety of trading accounts from Micro to Ultra Low Spread.
XM is suitable for everyone from market newcomers to professional traders. Wide range of trading assets including over 55 currency pairs (Forex) and CFDs on metals, energies, stock indices, cryptocurrencies, and shares. Spreads as low as 0 pip, leverage up to 1:1000, instant order execution, and no re-quotes, allowing to implement any trading strategy and manage multiple trading accounts. Accounts are protected with Negative Balance Protection, ensuring customers do not lose more than their initial investment.
Review XM
Let’s learn more about the detailed review XM in the next sections:
XM flooring products
XM offers a diverse range of trading products, including forex, cryptocurrencies, commodities, and stocks. With over 50 currency pairs and CFD trading on many popular digital currencies, and over 1180 different stock symbols, XM facilitates users with a comprehensive and efficient trading experience.
XM trading platform
XM, one of the top choices of many traders, is prioritized with trading platforms from MT4 and MT5, compatible with a variety of operating systems.
- MT4:
MT4 is a popular choice among the Forex investor community, known for its ease of use and automated customer support. At XM, MT4 integrates many products, synchronizes with many different trading software, and provides a variety of technical analysis tools.
- MT5:
MT5, upgraded from MT4, offers many outstanding advantages with more than 1000 different transaction types and greater flexibility in using charts and support tools. At XM, MT5 integrates more than 1000 trading types, syncs with 7 different products, and provides many technical analysis and charting tools.
- Hedging:
XM offers hedging features to protect and manage risk, including Close By which allows Buy and Sell orders to be closed at the same time, and Multiple Close By which allows multiple opposing orders to be closed at the same time.
- MT4 Multiterminal:
MT4 Multiterminal makes managing multiple accounts easy, allowing management of up to 128 accounts and execution of order types according to each investor’s specific needs.
Trading Account
Evaluating in detail the types of trading accounts and different trading styles. Below are details about the 4 main account types:
Micro account
- Minimum deposit: $5
- Spread: From 1 pip
- Commission fee: Free
- Maximum number of orders: 200
- Trading bonus percentage: Yes
Advantages: Suitable for beginners, low risk, low transaction fees
Disadvantages: Low leverage (maximum 1:30), small trading volume.
Standard account
- Minimum deposit: $5
- Spread: From 1 pip
- Commission fee: Free
- Maximum number of orders: 200
- Trading bonus percentage: Yes
Advantages: Suitable for beginners, low transaction fees, larger trading volume than Micro
Disadvantages: Low leverage (maximum 1:888).
Ultra Low Account
- Minimum deposit: $50
- Spread: From 0.6 pips (major currency pairs)
- Commission fee: Free
- Maximum number of orders: 200
Advantages: Low spread, suitable for scalping trading
Disadvantages: Deposit level is higher than Micro and Standard, no trading bonus.
Share account
- Minimum deposit: $50
- Spread: Depends on each type
- Commission fee: Yes
- Maximum number of orders: 200
Advantages: Suitable for stock trading, no leverage, low risk
Disadvantages: High deposit level, commission fee, no trading bonus.
Note:
- Customers can open up to 8 different accounts at the same time.
- Inactive accounts (no transactions, transfers, deposits, or withdrawals) will be automatically deleted after 90 days.
- The inactive account storage fee is $5/month.
- Choosing the right account type depends on your needs, experience, and trading style. Please carefully review information about account types before opening a trading account at XM.
Advantages and disadvantages of XM floor
XM is a reputable, safe trading floor with many quality services, suitable for all investors. However, you should carefully consider the pros and cons before deciding to open an account after reading the review XM
Advantage
- Reputable and safe: Licensed by reputable financial management agencies such as CySEC, ASIC, and IFSC. Participation in the Investor Compensation Fund protects up to 20,000 EUR.
- Diverse products: More than 50 currency pairs, 1,300+ stock codes, indices, precious metals, energy, and cryptocurrencies.
- Advanced platform: MT4, MT5, XM WebTrader meets all devices.
- Competitive fees: Low spreads, low commissions (for some account types), free Demo account, and many promotions.
- 24/5 support: Multi-language (including English), multi-channel, detailed instructions, quick answers.
- Flexible accounts: Many account types, low deposit levels, and diverse payment methods.
- Transparent environment: Complete information, transparent transactions, and audited financial reports.
Defect
- High minimum deposit requirements (for some account types).
- Limited trading products compared to some other exchanges.
- The UK interface has not been completed yet.
Review XM with other exchanges in the UK
To make the right choice, we will provide objective comparisons of XM with Exness, IQ Option, and FBS:
Review XM compared to Exness
XM and Exness are both reputable and popular forex trading floors in the UK. However, these two exchanges also have some differences, helping you choose the exchange that suits your needs:
- Trading products:
XM: Provides more than 50 currency pairs, 1,300+ stock codes, indices, precious metals, energies, and cryptocurrencies.
Exness: Offers more than 100 currency pairs, more than 30 indices, precious metals, energies, and cryptocurrencies.
- Trading platform
XM: MT4, MT5, XM WebTrader.
Exness: MT4, MT5, Exness WebTrader.
- Transaction fees
XM: Low spreads, low commissions (for some account types), free Demo account, and many promotions.
Exness: Low spread, no commission (for Standard and Zero accounts), free Demo account, many promotions.
- Reputation
XM: Licensed by CySEC, ASIC, IFSC.
Exness: Licensed by CySEC, FCA, FSA, SVGFIC.
- Which floor to choose?
XM: Suitable for investors who diversify their investment portfolio and like to trade many products.
Exness: Suitable for investors who focus on forex trading and like low commission fees.
XM compared to IQ Option
Similar to Exness, we also rely on the following characteristics compared to the IQ Option:
- Trading products:
XM: Provides more than 50 currency pairs, 1,300+ stock codes, indices, precious metals, energies, and cryptocurrencies.
Exness: Focuses on binary options and forex trading with over 350+ underlying assets.
- Trading platform
XM: MT4, MT5, XM WebTrader.
Exness: Exclusive platform developed by IQ Option.
- Transaction fees
XM: Low spreads, low commissions (for some account types), free Demo account, and many promotions.
Exness: Trading fees for binary options depend on expiration time and profitability rate, forex trading fees are relatively high compared to XM.
- Trading Account
XM: Many account types, low deposit levels, and diverse payment methods.
Exness: Fewer account types than XM, higher minimum deposit.
- Which floor to choose?
XM: Suitable for investors who diversify their investment portfolio, like to trade many products, and prioritize low transaction fees.
Exness: Suitable for investors focusing on binary options trading, preferring a proprietary trading platform.
See more: Broker XM: Explore the world of Forex fingertips
Review XM compared to the FBS platform
The difference is based on the following criteria:
- Trading products:
XM: Provides more than 50 currency pairs, 1,300+ stock codes, indices, precious metals, energies, and cryptocurrencies.
Exness: Offers more than 70 currency pairs, more than 30 indices, precious metals, energies, and cryptocurrencies.
- Trading platform
XM: MT4, MT5, XM WebTrader.
Exness: MT4, MT5, FBS Trader (proprietary platform).
- Transaction fees
XM: Low spreads, low commissions (for some account types), free Demo account, and many promotions.
Exness: Low spread, no commission (for Standard accounts), free Demo account, many promotions.
- Reputation
XM: Licensed by CySEC, ASIC, IFSC.
Exness: Licensed by CySEC, IFSC, ASIC, FCA.
- Which floor to choose?
XM: Suitable for investors who diversify their investment portfolio, like to trade many products, and prioritize low transaction fees.
Exness: Suitable for investors focusing on forex trading, preferring a proprietary trading platform with no commission fees.
Conclude:
FAQs
Is the XM floor a scam or not?
No, XM is a reputable trading platform and is not a scam. The floor is licensed to operate by reputable financial agencies, has complete legal documents, is transparent in operations, and is trusted by many investors.How to open a trading account at XM?
Log in to the XM website, click “Open account”, select account type, fill in the information, and verify with ID card/CD and selfie photo. Finally, make a deposit and start trading.
