XM is a name that is quite familiar to investors and is sought after by many people with the impressive value that this exchange brings. This forex trading platform has been operating for a long time in the market with a large number of traders and a huge daily trading volume. If you want to invest in XM, let’s find out carefully with TraderForex the information related to this Broker before making a transaction.

What is XM?

In 2009, the XM exchange was established by Trading Point Holdings Ltd and licensed by agencies such as FSC, CySEC, ASIC, and DFSA. With more than 14 years of experience in the market, this Broker has attracted millions of investors from 190 countries, over 2 billion trades successfully executed, no re-quotes and excellently received a lot of money. many great prizes.

Overview of the most detailed information about the XM exchange:

Is the XM broker reputable?

All investors before trading at any Broker are very interested in the reputation of the exchange. To help you understand if XM is reputable or not, we will provide information to evaluate XM according to the following criteria:

Founded time

In 2009, the XM exchange was officially established, up to now, this broker has been operating for more than 13 years. Although this milestone is not too large, it is enough to confirm the prestige of XM. Because if this is not a reputable exchange, it cannot exist until now.

XM Exchange License

Since its inception, XM has been licensed by many reputable agencies to operate, which also contributes to proving the credibility of the exchange:

• CySEC: License number 120/10.
• ASIC: License number AFSL 443670.
• FSC: License number 000261/158.
• DFSA: License number 000261/309.

All of these licenses are very powerful in the forex market, highly rated by experts, so you can trade this asset with complete peace of mind.

XM Awards

Not only has many operating licenses from many reputable agencies, but since its operation, XM has also achieved many awards and great achievements such as:

• Best FX Service Provider awarded by City of London Wealth Management Awards in 2022.
• Best FX training broker Middle East and North Africa 2021.
• Best Trading Experience awarded in 2021 by Ultimate Fintech.
• Best FX Provider of 2021.
• Best Global Customer Service 2020.
• Market Research and Best Training of 2019.

Products traded at XM

XM is an exchange with more than 1000 products divided into the following 8 groups:

• Over 55 currency pairs including major, minor and rare.
• Agricultural commodities traded such as soybeans, sugar, coffee, pepper, cocoa, etc.
• Energy markets such as Brent crude oil, natural gas…
• Precious metals include gold and silver.
• More than 1180 stock CFDs on the XM exchange.
• More than 100 different types of shares unlimited on XM Share account.
• 30 stock indices around the globe.
• Trade with many commonly used cryptocurrencies.

XM Trading Platform

The trading platform is the outstanding advantage of XM when it supports trading on both MT4 and MT5 with many options such as: compatible with Windows and Mac OS computers, Webtrader, can be used on iPad, iPhone, etc. Android, Android Tablet. Details about the trading platforms are as follows:

MT4

MT4 is the most popular trading platform that most forex brokers support. The platform is very easy to use, user-friendly, capable of supporting efficient trading, allowing traders to write orders or automated robots. MT4 is the first choice of investors when doing forex or CFD trading with key features such as:

• Supports 1000+ trading products like Forex, CFDs and Futures
• Synchronize with 8 different software to make transactions
• Spread spreads from only 0.6 pips
• 50+ technical analysis indicators and charting tools
• 3 types of line charts, bar charts and candlestick charts
• Allows hedging, reciprocal and reverse orders
• Custom indicator with different time period
• Fully stocked and highly secure.

MT5

MT5 is an upgrade from MT4 developed by Metaquotes giving traders the ability to trade a wide range of forex products, CFDs, stocks, stocks, energies and commodities. Besides, MT5 is also improved over the MT4 platform with outstanding features such as more advanced charting tools, flexible automated trading, and specialized market trading.

In addition to 4 types of traditional orders that can be executed similarly on MT4 such as buy limit, buy stop, sell limit, sell stop, MT5 also supports 2 pending orders, buy stop limit and sell stop limit to increase the probability of executing transactions. successful translation. The outstanding features MT5 supports XM trading such as:

• 1000+ trading products such as stocks, stock indices, forex, precious metals and energies CFDs.
• Synchronize all transactions across 7 platforms
• Spread spreads from only 0.6 pips
• 80+ subjects performing technical analysis
• 100+ charts displayed at the same time
• 80+ technical indicators and 40+ analytical objects.

MT4 Multiterminal 

Multiterminal is one of the tools to support investors who want to manage multiple MT4 accounts through 1 software, only needing to log in to the Account and password. Multiterminal software with preeminent features such as:

• 128 accounts to make transactions
• Support multiple trading orders at the same time
• 3 allocation methods
• Real-time transaction management and execution

Types of XM Accounts

Currently, XM offers investors 4 main account types including Micro Standard, Ultra Low, Share, Swap-free accounts and 2 sub-accounts, Demo and Islam.

Details of these types of trading accounts are as follows:

Micro account

Basic information of Micro account:

• Minimum deposit 5$
• Spread fee: from 1 Pip
• Commission fee: no
• Maximum open/pending order: 300 orders
• Minimum order: 0.1 Lot
• Trading Bonus: Yes

This account is calculated in Micro Lot (1 lot = 1,000 units). So, although Broker XM still displays the amount in USD, the lot size is smaller, so 1 lot in Micro account is only 0.01 lot in standard account type. As a result, investors can manage risk more effectively. Therefore, the Micro account is very suitable for novice traders who are learning about forex.

Standard account

Basic information of Standard account:

• Minimum deposit: 5$
• Spread fee: from 1 Pip
• Commission fee: No
• Maximum open/pending order: 300 orders
• Minimum order: 0.01 lot
• Trading Bonus: Yes

The Standard account is almost identical to the Micro account but trades are made in standard units. Both of these basic XM account types are aimed at novice investors who are practicing forex trading, so they support a lot of favorable conditions to help them make the best trades.

XM Ultra Low

Basic information of Ultra Low account:

• Main money spread: Only from 0.6 Pip
• Rose: no
• Maximum open/pending order: 300 orders
• Minimum deposit: 5$

This account type has low spreads, no commissions, so it is very suitable for the surfer style trader. This is the type of XM account that has the ability to attract a lot of investors, having great competition with reputable ECN or forex brokers. Ultra Low XM is divided into 2 types of small accounts, Ultra Low Standard and Ultra Low Micro, with the main difference in trading volume, while other trading conditions are kept the same.

Share account

Basic information of Share account:

• Base currency USD
• No leverage
• Spread according to base rate
• Commission fee: Yes
• Maximum open/pending orders: 50 orders
• Minimum order: 1 lot
• Limit of lots/orders: Depends on the types of stocks
• Minimum deposit: 10,000$

If you like to trade stocks then you shouldn’t miss this account type but it requires a minimum deposit of up to 10,000 USD. Investors need to place a minimum order of 1 stock with a volume of 1 lot (1 standard lot = 100,000 units).

Demo Account

In addition to the main account types as above, XM also offers Demo accounts suitable for the following subjects:

• The demo account is suitable for beginner investors to develop their trading ability and enhance the experience of using virtual currencies without fear of risk.
• Traders who are evaluating and comparing Forex brokers, want to test a variety of trading methods in a simulated environment without losing money.
• Anyone can open an account, trade with a large virtual balance of 100,000USD providing the same market conditions as real trading.

Islamic accounts

Islamic accounts are offered by XM for the purpose of serving Muslim traders who comply with Sharia law, which prohibits followers from paying any interest such as swaps as this is considered wasteful and exploitative. Traders between positions open over the next day will be charged an overnight fee, but an Islamic account allows traders to avoid these fees and interest if they keep the position open for longer.

When using this account type, you are exposed to a highly competitive trading environment in terms of transaction and non-trading fees. No matter how talented, educated and experienced you are, there are advantages required to bring the most favorable trading conditions.

The trading tools XM provides to investors

XM supports technical indicators so that investors can make the most accurate trading decisions such as:

• Ribbo Indicator: Helps investors to observe and monitor popular trends in the market to recognize consolidation areas. From there, investors will guess the reversals and trade at the right opportunities.
• River Indicator: Through this indicator, investors will know how the market is trending to determine the strength and direction of trades.
• Ichimoku Indicator: Based on this you can determine the support and resistance levels to start making the most suitable trade.
• Bollinger Bands: Helps investors know how to trade when the market changes and identify entry points in many different markets. From there you will know when extreme prices will appear.
• ADX and PSAR Indicator: This indicator helps Trader to identify the most suitable market and see the starting point of a new trend.
• Analytical Indicators: Traders can analyze the market through these indicators in seconds rather than wait for hours and build a map of the market direction in real time.
• MQL5: This is where many quality trading signals come from because MQL5 was developed by the creators of MetaTrader. This feature helps traders automate trading and combine with EAs.

XM Exchange Fee

Although XM does not offer competitive fees like other exchanges, it is still quite comfortable overall. Specifically, the fees traders need to pay are as follows:

• Spread: Each product has a different fee spread, for example, the main currency pair has a spread of 0.0 pips, and the energy group from 0.3 pips…
• Commission fee: Currently, XM only charges a commission for Share accounts, and other accounts are completely free.
• Swap Fees: If you trade with a Swap and Share free account, you will not be charged overnight. The remaining accounts will be charged depending on the product the investor makes the transaction.

Leverage XM

At XM, traders are provided with flexible leverage from 1:1 to 1:888 but the maximum leverage a trader can use depends on the account and the deposit amount. If you trade with Ultra Low, the capital will be from 50-200$ or Micro and Standard, the capital is from 5$ – 20,000$ with unlimited leverage from 1:1 to 1:888. But if the account is at 20,001$-100,000$ the leverage will decrease from 1:1 – 1:200…

Deposit – withdraw at XM

Broker Xm also supports traders in a variety of ways to deposit and withdraw money with preferential costs such as:

• Bank transfer
• Money
• Credit
• Visa/Mastercard Debit Card
• Electronic wallet
• Google Pay

The deposit and withdrawal process will be done quickly, the deposit time only takes a few minutes, the withdrawal time can be longer but up to 24 hours from the time the order is executed without any cost. .

XM Promotion

One of the advantages that attracts traders to trade at XM is to promote marketing activities with many typical incentive programs such as:

Bonus 30$ when traders register XM account

If you are just signing up for the first time, upon successful account verification, you will automatically receive 30 USD without any deposit or fee. To get 30 USD, do the following:

• Register a trading account with XM
• Verify your account with your ID card and prove your identity
• Click claim reward
• Complete the SMS confirmation required by the system.

15% welcome bonus

As its name suggests, the first time you make a deposit, you will receive an additional 15% of the deposit and within 24 hours and the maximum bonus is up to 500 USD. However, with this 15% of the normal amount, you cannot withdraw but can only use it to free margin for the account to help better manage risk. And Ultra Low and Shares Accounts will also not receive this normal amount.

Free VPS

If you maintain a stable account with a minimum amount of 500 USD or more, trading at least 2 standard lots (200 micro lots) monthly, you will not need to pay VPS fees. Besides, if you do not meet the requirements for VPS exemption as above, you will have to pay 28 USD/month for VPS.

Security issue

XM commits that all information related to customers is absolutely confidential, not leaked or provided to 3rd parties. Information will be kept confidential according to applicable laws and regulations.

Customer Service XM

XM always has a dedicated and professional customer care policy by well-trained staff. Support customers in many different forms such as:

• Live chat via XM website
• Send email to [email protected]
• Hotline: +501 223-6696.

Traders can contact support 24/5 in Vietnamese and Saturday and Sunday support in English.

Resources XM provides to Trader

XM is loved by many traders because it regularly shares educational resources, trading signals, and indicators researched by XM such as:

Trading Signals

XM offers a variety of signals, in addition to the signals analyzed by XM itself, but also those of the expert Avramis Despotis. The transactions revolve around 10 types of trading products, sent twice a day in Vietnamese, providing entry points, take profit and stop loss.

Indicators developed by XM

The XM trading platform boasts over 450 top experts so XM can develop its own indicators on the MT4 platform. Besides popular indicators: Ichimoku, Bollinger Bands, ADX, XM also self-developed the Ribbon Indicator for investors to detect trends, accumulation areas, and forecast reversals.

VAR calendar information

In addition to developing its own indicators, XM also focuses on education and thrives in this area. XM provides detailed videos on how to use MT4, MT5 and many other useful lessons.

Instructions to open an XM Account

To trade at Broker XM, you need to create an account and verify it through the following steps:

Open an account

Steps to register an account:

Step 1: Open XM homepage and select Open Account.

Step 2: You will be redirected to the section “Register for a real account 1/2”, please provide all the personal information the system requires: Full name, language, country, email, area code, phone number.

Step 3: Scroll down and select “Trading account details”. Here you choose the trading platform and account type you want to sign up for according to your preferences.

Step 4: After you have completed the above steps, click the button “Go to step 2”.

Step 5: In the section “Register for a real account 2/2”, where please fill in the details and set a password.

Step 6: You choose “Open a real account”.

So you have created an XM account, then proceed to verify the account.

Account Verification

Once the account opening process has been completed, investors are required to verify the account in order to deposit funds and receive XM offers. Traders will provide documents to verify identity such as passport photo, citizen identification or identity card, driver’s license with full information:

• First and last name
• Release and Expiration Date
• Place and date of birth/tax number
• Signature

Followed by residency verification, provide receipts no older than 3 months such as:

• Electric bill
• Water or gas bill
• Telephone bill
• TV service bill
• Internet Bills

That way you can start depositing and making transactions right away.

Conclusion about XM

With the information shared above, it helps you to understand somewhat the information related to XM. To have a more objective and accurate view of this exchange, please immediately see the advantages and limitations shared below.

Advantage

The outstanding advantages you will experience when trading at XM:

• Many prestigious licenses
• Diversity of trading products
• Support various types of trading accounts
• The most competitive spreads in the market and no commissions
• Low minimum deposit
• Many attractive offers
• Deposit and withdraw funds through a variety of fast methods.

Disadvantage

Some disadvantages of XM:

• Share accounts require a fairly high minimum deposit
• Complicated account registration and verification procedures

In general, the XM exchange has quite a few bright spots in the forex market and is a reputable place for you to “choose to deposit gold”. So, do not hesitate to open an account and make transactions right away.

FAQ

Which country’s XM exchange?

XM is established by Trading Point Holdings Ltd with headquarters at 404, The Matalon, Coney Drive, Belize, Central America.

What is the minimum deposit amount at XM?

XM requires traders to deposit a minimum of $ 5 for all accounts, except Share will need to deposit $ 10,000 at least.

How to try trading at XM without deposit?

Create an XM Demo account yourself to get acquainted and practice trading without any cost before opening a real account.

Does XM broker have a surcharge?

Currently, XM charges an additional fee to maintain an account if it is inactive for more than 90 days. You will be charged $5 monthly until there is no money left in your account.

Thus, TraderForex has shared with you all the information related to the XM trading platform. This is a reputable exchange with many years of experience operating in the market, supporting the most effective transactions, so you can join with peace of mind.