Full and Detailed XM.com Forex Review
XM is the first choice for clients in 196 countries who actively trade forex, precious metals, stock indices, and energies by virtue of the company’s outstanding trading environment offered to clients, a solid regulatory environment, professional dedicated customer support in over 20 languages and business transparency coupled with strong business ethics.
XM is focused on the Forex Market and promotes a Forex Championship for the best traders. Any registered member can participate. Trading Point Holdings Ltd operates the XM broker site. Like other trading sites, it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and complies with the European Union Markets in Financial Instruments Directive (MiFID).
Types of Accounts
You can choose between a demo account and the regular account. On the demo account, you will have a virtual balance of £100,000 to trade with real information. However, all your earnings (and losses) will not be for real. With the actual account, you get £20 to start for free. There is no initial deposit required, but to unlock some other benefits, you have to make a deposit.
Once you start depositing money, you can get a second reward of up to £5,000. There is also the unlimited loyalty program that gives you XM points which you can later change for cash or other XM trading rewards.
You don’t have to install additional software to your computer. You can access everything from the platform via the XM website. Unlike other platforms, the XM main screen includes the news feed that can affect your trading. That way you can keep pace with what is happening in the world.
You may trade other things besides Forex. There are commodities, equity indices, precious metals and energies. You chose what you wish to trade on your same account.
You will have the visibility of your open, pending and closed positions. That way you will control your dashboard better. The graphs will help you to analyse the current trends.
You can find the website full of training information. The learning centre is focused on Forex. Besides the video tutorials, you can attend Forex webinars and seminars. There are Forex related news and Forex signals to help you further. You can also access the Forex calculators from the training site.
For added benefits, you can make use of the XM MT4 software. It is compatible with PC, Mac, multiterminal, WebTrader, iPad, iPhone and Android. It has some interesting automated tools to trade Forex like a Pro.
Our XM Forex Gallery
XM Demo Account
Deposits and Withdrawal Services
There are many ways to deposit or withdraw funds. You may use a credit card, electronic payments, wire transfers, and some others. For security reasons, the only restriction is that to fund your account, the account you are depositing with has to be under your name.
To withdraw, you have the same options than to deposit. You will not be a candidate for withdraws unless you’ve completed the validation process on your account. To do so, you need to upload your proof of address and identity. To complete the withdraw process, you’ll have to wait 24 hours.
You can ask for help in your language. Besides English, XM supports other 20 languages, in 196 different countries. You can find help 24 hours from Monday to Friday, and there is a local phone number if you are calling from Cyprus, the UK, Australia, Hungary or Greece.
Depending on the query, you may send an email to a different address. To reach the support desk, write to firstname.lastname@example.org. If you need to contact the accounting or affiliate department, HR, back office, dealing room, sales or PR inquiries, there is a different address for each.
Safety and Regulation
The Trading Point Holdings Ltd is registered with number HE 322690. It is regulated by the CySEC with the license number 120/10. It also has a registration with the FSA in the UK with number 538324. Other registration numbers include the BaFin registry 124161 and the CNMV number 2774.
For those who are willing to invest in Forex making use of an automated tool, XM has what you are looking for. It has the necessary registries to operate under the law in a very easy way. You can have support in many foreign languages, and their help desk is open whenever a trading opportunity is available.