Is XM forex a good choice for new traders? This FCA-regulated broker offers traders several features that savvy investors are looking for. For example, is a zero account available? How about a multilingual economic calendar? Is there an option to deposit money through a local bank transfer? These are all questions I’ve asked myself while researching XM Forex. So let’s dive in to find out.
XM forex is an FCA licensed broker.
XM offers an array of services to traders, including over 55 currency pairs, futures, and binary options. The broker also offers customer support in several international locations, including Greece, Cyprus, Hungary, and the United Kingdom. Moreover, it supports all trading platforms, including MetaTrader 4, MetaTrader 5, and MT4. This means that traders can access its services from anywhere in the world. For the most part, XM offers a range of advantages, including ease of use, safety, and security.
XM forex is an FCA licensed broker that serves hundreds of thousands of clients. The broker has multiple licenses from top regulatory bodies, including the FCA. It has over a decade of experience and is registered for outward passporting to the FCA. The broker offers five different account types and an array of trading instruments. It has also won numerous awards, including ‘Best FX Broker in Europe 2020’.
XM is regulated in Cyprus, the United Kingdom, and Australia. It has two offices in the United States. Moreover, it is regulated by two securities commissions in Cyprus and Australia. The company was founded in 2009, but its activity began in 2009. It has clients from 196 countries and several languages, making it one of the most popular Regulated Brokers worldwide. The company also maintains offices in Greece and Belize.
In addition to providing excellent tools to traders, XM also provides a wealth of educational content. For example, their trading podcast, Global Market Insights, provides informative content on online investing and economic news worldwide. In addition, the economic calendar features a filter function that makes it easier to find information based on country or data type. Unfortunately, XM does not offer many popular third-party tools for fundamental analysis.
It offers a zero account.
XM Forex Group is a financial service provider with over 1.5 million traders worldwide. Their trading solutions include stock CFDs, commodities, and precious metals. Beginners and advanced traders can choose the platform to meet their investment objectives. They are a well-established company with solid licenses and an Investor Compensation Fund membership. The company also supports various educational materials, webinars, and research. You can start with a zero account and earn as much as 5$.
The zero-deposit XM account has a very low minimum deposit and a range of trading conditions that allow traders to engage in hedging, scalping, and automated trading using Expert Advisers. The account is easy to use and provides competitive prices. However, there are several disadvantages to this trading platform. Its lack of regulation and poor investor protection can cause it to become unattractive for beginners. Still, XM makes up for it by offering low minimum deposit requirements and excellent customer service.
XM Zero Account users can trade in USD, EUR, and JPY. The commission per $100,000 traded is $3.5. The Zero Account can be opened through the Member Area for existing XM Account holders. However, XM Zero Accounts are not eligible for Deposit Bonuses. If you’re considering XM Forex, it’s worth looking into. You’ll find a wide range of trading instruments and low spreads.
XM accepts clients from most countries, although it is not approved for China, Canada, and the United States. To open an account, you’ll need to provide proof of identity. An official national identity card or passport will suffice. XM does not support PayPal deposits, which could cause problems for some traders. And there are restrictions on account types for some regions. In short, XM is an excellent forex broker, but it’s behind many other leading firms.
It offers a multilingual economic calendar.
XM Forex is a premier online brokerage firm that offers an extensive range of services, including a multilingual economic calendar and daily market analysis reports. They aim to help their clients understand the global markets’ nuances and changes in currency exchange rates. Their staff is committed to answering questions and offering excellent service. XM is rated 7 out of 10 on a trust scale, and its multilingual economic calendar makes it easier for customers to stay up-to-date on market changes.
XM provides its clients access to numerous educational resources, including seminars and webinars worldwide. The multilingual economic calendar is one of its highlights, as are the daily market previews in multiple languages. It also features a multilingual economic calendar and offers economic indicators and incoming events in the languages of the European, Asian, and American markets. These resources are a must-have for every Forex trader.
XM offers free demo accounts, MQL5 Trading Signals, forex calculators, and an extensive Research and Education Center. The XM economic calendar is available in over 20 languages and provides daily updates during major trading sessions. XM employs a team of twenty multilingual market professionals, including a multilingual economist and forex trader. They also offer a 24-hour personal account manager, so you can access an expert’s advice whenever needed.
It offers a local bank transfer option.
In addition to offering a wide selection of payment methods, XM also offers a local bank transfer option, which allows clients to fund their accounts without paying conversion fees. This option is particularly useful if you’re based in a country where the local currency is not widely used. In addition to USD, EUR, and GBP, XM supports more than a dozen base currencies, including HUF and RUB. These currencies are usually exchanged according to their interbank rates.
Withdrawals from the XM Group can be made using a debit or credit card. Withdrawals are processed up to the amount of the deposit. Sometimes, XM may take up to five business days to process your request. Withdrawals are processed in the same currency as the deposit. The minimum withdrawal amount is $5. For standard, Micro, and Zero accounts, the withdrawal process takes up to three business days.
The minimum deposit at XM is $5. While other brokers offer more convenient deposit options, XM supports local bank transfers in 58 countries worldwide. Additionally, XM covers all transfer fees, making it easy for you to fund your account with little hassle. Funding your account is 100% automatic, and withdrawals are guaranteed the same day, except when you use a bank wire transfer. If you’re not comfortable with e-wallets, XM offers free educational materials.
XM was founded in 2009 in Cyprus and today has clients from over 190 countries. Their customer service team speaks 25 languages, and the platform is regulated by the Cyprus Securities and Exchange Commission, the Australian Securities & Investment Commission, and the Financial Conduct Authority. XM is among the most reputable and renowned brokers and strives to offer the best customer experience. So, if you’re in a country where XM does not offer a local bank transfer option, you’ll have to go with another broker.
It offers negative balance protection.
If you are considering trading in the forex market, you might be wondering whether or not XM forex offers negative balance protection. This protection allows you to close positions when your minus balance goes below zero, and you will never be forced to make additional margin calls. This feature makes it easy for you to trade without worrying about losing any money, and it is a great way to ensure that you don’t lose more money than you deposit.
CySEC, the main regulator of brokers in the European Union, requires negative balance protection. It is a form of negative balance protection implemented by brokers on a per-account basis, so you won’t lose more than you invested in a particular position. Because leveraged positions are structured, negative balances can happen even when no profits are made. In that case, another position will cover the loss. This way, the customer account will never end up in a negative balance, and the broker’s losses will be transferred to the customer account.
While some retail forex brokers don’t offer negative balance protection, many regulated brokers do. Negative balance protection is an important feature for newcomers to the market. It prevents traders from going into debt by automatically closing open positions when their balances rapidly decrease. This protection is an important feature for traders looking for a safe trading environment, and it is important to understand your broker’s policy.
The best way to tell if a broker offers this protection is by asking about their operating history. The longer a broker has been in business, the better their standing is, and they will likely provide guaranteed margin calls. That way, you won’t end up owing money to your broker, and you’ll avoid losing your money. If you’re looking for a safe broker, consider XM forex.