XM Review 2022

However, with the zero spread account, you will pay $3.5 commission per 1 lot (100,000 units) traded. This commission is paid both at both ends of the trade, when you open and when you close the position. The following table shows how XM measures up against some of its rivals across the most widely traded forex positions. On both a minimum and average spread basis, XM comes up second best. The Micro account gives you all the same features as the Standard account, however, the equivalent contract size of trading 1 Lot is 100 times lower. The data contained in this website may not be real-time and accurate.

There are over 25 payment methods available with the XM broker. Those two platforms are two of the most common platforms in the forex trading industry. Both platforms are very simple https://traderoom.info/think-markets-introduction/ to use and both of them are adapted to any kind of device. This means that you can use both platforms on your Windows, Mac, or even smartphone and even download the XM Forex app.

Desktop platforms

This is essentially advisement to either deposit funds or close positions. Essentially, the margin percentage will increase as the volume per trade increases. One of the important characteristics of XM is the company’s strive to remain human and connect with clients. This is why management has visited more than 120 cities worldwide to meet with clients as well as partners.

XM Group is a globally established and regulated online trading broker. They are one of the best brokers for day trading from my experience. You can get instant access to no-requotes, tight spreads, fast execution speeds, low commissions, and negative balance protection. I find them to be one of the most reliable brokers for trading and investing online, especially if safety and low costs are important to you.

XM Inactivity Fees

Please note forex, equity indices, commodities, energies and precious metals are available on both MT4 and MT5, while stock CFDs are only accessible on MT5. Unfortunately, XM does not offer Cryptocurrency trading on MT4 or MT5. Spreads for XMs Ultra-low account fare pretty well against other brokers with IC Markets the best. Depending on the currency pair, some spreads match spreads for the best pairs from other brokers. Across the board, spreads are somewhere between matching the best and middle rung.

• XM has 2.5 million clients in 196 countries around the world.
• While many brokers start charging clients account inactivity fees after 6-12 months, XM traders who have not traded for 90 days will be charged a monthly inactivity fee of $5.
• XM also offers an Islamic account to its Muslim clients which is a Swap-Free account where there is no interest charged on overnight positions.
• All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.
• So, we will look at the details on how much you would pay, trade a certain amount, over one week, on specific XM markets, and other brokers.
• The “Tradepedia” education section has 39 videos which are divided down into seven sections.

Clients are able to keep a demo account open once a live account has been activated, meaning that you can continue to learn at your own pace. XM requires only one-step login for the platform, but provides two-step account login to access deposit and withdrawal functions. A two-step login procedure for the trading platform would be safer. In the sections below, you will find the most relevant fees of XM for each asset class.

Trading Account Types: Low Minimum Deposits And No Commission Options

While using XM, we found one of the biggest perks is the wealth of training and educational materials available. The platform hosts a Research hub where traders can access technical summaries, trade ideas as well as a podcast, blog and XM TV. XM operates a strict “no hidden fees or commission” policy. XM covers all transfer fees and same-day withdrawals are guaranteed. Both platforms are available on Apple and Android devices, which makes for a smooth and easy-to-use mobile trading experience. The platforms are accessible from both real and demo accounts.

The Standard, Micro, and Zero accounts all have this distinctive feature – these have custom-oriented conditions. XM Group provide you with very good proprietary trading tools for the MetaTrader 4/5 trading platforms. These tools are fully automated and can help you to perform technical analysis across multiple instruments and charts, in order to identify potential trading opportunities. This makes it quick and easy for you to identify trading signals without needing to constantly stare at your charts all day and night. I am always on the lookout for new trading tools which can help make my market analysis more accurate. Sometimes I can go through hundreds before finding something that I will implement into my day trading activities.