With the emergence of multitudes of forex brokers, traders always find it difficult to opt for the best one. In general, determining whether a broker is good can be feasible if we look closely at their overall aspects. To be more specific, today I will review some facts about XM company, which is popular in forex market at present. Bascially, XM embarked on forex market in 2009 and now is considered to be one of the most prominent one among forex brokers around the globe.
Speaking of XM broker, it is presently estimated that they have more than 1.5 million customers of different parts of the world trading on their platform. In fact, XM is well-known for its excellent customer care and trading conditions which are conducive to trading.
What do we know about XM trading platform?
Basically, traders can opt for two trading platforms when trading with XM broker. One notable part is that new traders can capitalize on demo account offered by XM, which helps them fully comprehend how the broker works. Their main trading platform is MT4, which is easy for all traders to trade. In addition, they also offer their customers MT5 platform in which traders can have access to stocks or valuable metals.
As these trading platforms are free and available on both Android and IOS, which traders can download easily.
Some facts about XM’s spread and commission
Obviously, brokers will charge either spread or commission as their main income. Therefore, traders always take these two things into consideration before choosing a broker. When it comes to XM, their spread will depend on each type of account. Normally, their minimum spread is around 0.1 pips. In terms of commission, the only account that XM charges is zero account. Once aware of these information, any trader can easily choose suitable type of account when trading with XM. Check out other zero spread forex brokers.
Can we trade demo account?
Certainly, a large number of forex traders, especially new ones, always want to experience brokers before trading with them in the long run. Therefore, demo account is specifically designed for those who desire to have a greater understanding of aspects of brokers. XM broker also offers their customers demo account which enables all traders to test everything.
It would be of better use to traders to open a demo account on XM platform because the trading conditions are nearly the same as real account. In addition, you can take advantage of demo account unlimitedly.
How does XM pay their customers?
Unquestionably, no one will not care much about payment method when trading with a broker. The ultimate hope of every traders is to gain profits in forex market. In terms of XM payment method, it requires traders to submit some certain documents such as a copy of ID card or passport. In addition to this, traders also need to give them a proof of address.
After finishing these steps, you will be able to make deposits with XM and start making money. In order for all traders to trade easily, XM forex broker allows everyone to use credit card, bank, or online method. The payment method of XM is really outstanding since the money will transfer directly to people’s wallets within a day.
The leverage of XM broker
If you trade with XM, you will be able to control leverage risks. If you’re not in European regions, it’s possible for you to gain an access to different levels of leverage. It should be noted that the higher leverage you trade, the higher risk you might face.
What are markets of XM?
In reality, you will be trade with different types of things when it comes to XM. Some of which are stocks, precious metals, and equity indices. In addition, if you want to trade with cryptocurrencies, you can choose either bitcoin or ethereum.
In one word, although trading with XM broker would be a perfect choice for you, you still need to delve deeply into aspects of this broker. As all aspects are mentioned in this article, I hope that you can make a wise decision when looking for the best online forex brokers.