XM is very transparent here and reaps a clear plus point for us. XM offers a free demo account of over $ 100,000 in virtual credit.
Tedious process, very simple but they made it complex. But instead, they will ask you to provide or used a different method for withdrawal of your profit. I tried the Ultralow micro account, spreads where tight as promised, even during news times, it was still better than i some other brokers. XM trading offers full edition of the popular MT4, MT5 platforms which includes numerous proprietary indicators.
Requested supervisor to discuss matter, refused to connect… I utilized the email that was posted on this website for their customer service and sent a request for cancellation. Then the customer service reps had the nerve to ask me why I did not want to try their product and Karen even told me she could give me a 20% discount. I told them that I did not want to try nothing that they had to sell and that I wanted a refund of my money.
XM TV provides daily forex news videos and market analysis, also available as an audio podcast. Along with great customer service, every client can access numerous educational materials through XM Learning Center with trading data and other necessary information that brings trading to a better level. In this regard, XM went also far and beyond with great respect and wide education support throughout various regions with a purpose to educate traders. So the platforms gaining high ratings due to its international recognition and are always a plus towards brokers’ proposal. TO withdraw funds from your XM trading account you should simply follow next steps, also never hesitate to contact customer service in case of any questions or terms. XM Minimum Deposit amount is 5$ only for Micro Account or a Standard Account, in case you wish to trade with Zero account minimum deposit is competitive also, demanding 100$ as a start.
He is a motivated finance expert, having joined BrokerChooser in 2018. He’s also eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible. In his spare time, he loves learning new things, especially data science, algo-trading, programming and trading. There are many aspects to assessing a broker’s services in general, maybe even too many to list. Below, we’ll focus on the most important criteria that should be taken into account when determining whether a broker is good for beginners. XM can hold its own in comparison to other brokers and gets a very good rating from me on this page.
To open a demo account you need to fill an application form and you may also need to add your email address, telephone number, your postal address & other information. To make it more feasible for your trading experience you can select any option according to your preference. XM provides two trading platforms that are open to real and demo accounts. XM does not have its own trading platform but it uses third-party platforms like Meta trader 4 and Meta Trader 5. Moreover, the multi-award-winning MetaTrader 4 platform is typically an online forex trading platform that supports multiple order types like limits, stops, trailing, and market orders. XM platform offers access to 20 exclusive tools which includes feature-rich trade execution & management programs, messaging facilities & more.
Similarly to the web trading platform, we tested the MetaTrader 4 platform on Android. As mentioned before in this review, the well-known trading platform Metatrader in version 4 and 5 are offered. In our opinion, there is no better trading platform for private traders worldwide, because it offers many universal options. The trading platform is characterized by its flexibility and user-friendliness. XM offers trading in currencies and CFDs on commodities, precious metals, energies, stocks, and indices. Currently, over 1000 different markets are offered to traders. The broker works as an intermediary for tradable contracts for difference.
Xm Account Types
The XM review finds that the group has evolved pragmatically over the years. It poses an average-risk to the trader with its two tier-1 jurisdiction authentications. It is an essentially safe broker for trading forex and CFDs.
Each account permits up to 200 open or pending positions per customer. Users can open a trading account on XM platform and the minimum deposit to open a trading account varies because of account type. XM Group has a low minimum deposit, good customer service, an excellent web & mobile trading platform, low fees, great educational tools, and an easy account opening process. So based on these features, we can say that XM is suitable for beginners. Besides the services mentioned above, XM is best known for providing access to two trading platforms – MetaTrader 4 and MetaTrader 5.
Users get access to a demo account with simulations of all features and no time limit. There is no protection for investors onboarded as non-EU clients. The platform runs a full-service package on educational content for all users, beginners as well as experts. The customer support lexatrade courses scam is available only from Monday to Friday. It is best for forex trading and creates strong foundations for new users’ first steps into forex trading. There is very little diversity between the account types for users, creating a degree of low personalization for traders.
Similar to the Standard account, one standard lot is 100,000 units of the selected trading account base currency. These accounts offer Intra-Day market updates regularly with analysis and multilingual customer support, that are managed by personal account managers.
Brokers By Licenses
I’m an affiliate with them and have introduced over 30 clients to them. It’s a big lexatrade cheating help for them to gauge XM’s overall performance without any financial risk.
- Please trade responsibly selecting the leverage based on your risk appetite and loss tolerance level.
- It is easy to navigate and has all the features provided by MetaTrader 5.
- Further, XM Group is approved by the level 1 regulator such as The Australian Securities and Investment Commission , and The Financial Conduct Authority , discussed above.
- It is very difficult to get through to their customer service and I got disconnected a few times I tried to complain and cancel my subscription.
- Just a few days of trading and getting profit from my trading, suddenly I got an email about the change in leverage from xm.
I finally got so upset with her I am screaming at her that I want my money refunded and that I don’t want to hear her say, “I’m sorry, ” or that I authorized the order when I didn’t. I had a charge of $1.97 tacked onto my debit card that I didn’t authorize. All that it showed was XM Brands out of Cancuun Mexico. The Visa Fraud company called me letting me know of some other unauthorized possible fraudulent charges and that is how I found out about this charge from XM Brands.
Good Broker For Indians Service Use: Livelength Of Use: 0
Execution-wise, my trades are executed super fast, no requotes or slippage whatsoever. They have superb customer service, like I get replies within an hour via email. Live chat is very useful, very professional agents.
My only issue is my leverage is being lowered during high news releases. I have 14 active clients under my network, so I earn a decent amount of extra income every month. XM in general is a good Forex broker with affordable spreads , several account types available, and multiple deposit and withdrawal options. I’m using this broker along with other 2 brokers namely Exness and FXPro. I’ve never faced any issues withdrawing funds from my account as well.
Moreover, the desktop platforms for Mac and PC with any operating systems; both allow single-click trading options. XM Group is a MetaTrader-only broker, the android and IOS versions of the MT4/MT5 mobile applications are both accessible for download. Micro accounts utilize EUR, USD, CHF, GBP, HUF, AUD, and PLN as the base account currencies and can be started with a low minimum deposit – 5 USD. Moreover, one micro lot is 1,000 units of the base currency. XM Group is considered as an average-risk, with a general XM Trust Score of 78 out of 99.
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. For example, you can also access professional training and webinars. The webinars are held almost daily and are accessible to every customer. There are also daily market analyzes and even signals to trade.
I understand it was my mistake to be suckered in by something claiming to be a legit. Business to work for Google, but I authorized a charge of a 1.00, not the other two charges!! Like I said I’m a mother who is unemployed and every dollar counts. My bank told me to follow up with the BBB- which I will do- does anyone have the address, phone #, or url of the “XM BRANDS” company??? The bank also said that they provided sufficient information to make it a legit. I called them two months ago when this happened and was told I would be refunded my money- ###, every word out of the several people who I was passed around to.
I called my bank and had the debit disputed, was given back my 77.83 and now two months later, the bank just withdrew thw 77.83 scammed by lexatrade again!! When I called I was told that they “temporarily” give you the money back until the dispute is followed through.