XM Review – Is XM Scam or a Legit Crypto Broker?

XM Review

XM logo

XM was founded more than a decade ago in 2009, and since then it has managed to grow exponentially to become a well-established worldwide investment firm and a respected industry leader. Read through this detailed XM review to discover why this broker is the preferred choice for many traders across the globe, and how you can start benefitting today by choosing it as well for your online trading and investment activities.

XM has more than 5,000,000 clients in several countries and works with over 600 professionals, all of whom have long-term experience within the financial industry in various fields.

XM website

Account options

Let’s talk about the types of accounts that traders can choose from when using XM. There are 4 different account types, namely the ‘Micro Account’, the ‘Standard Account’, ‘XM Ultra Low Account’, and finally the ‘Shares Account’.

Each account type has different features centred around several factors such as but not limited to base currency options, leverage, contract size, negative balance protection, spreads, commissions, minimum trade volumes, lot restriction per ticket, and minimum deposit requirements. For Muslim traders, Islamic-friendly account options are also available.

Trading instruments

XM provides a wide range of more than 55 currency pairs as well as CFDs on various precious metals, equity indices, energies, and more. All of these have competitive spreads in addition to the re-quotes execution and no rejection of orders, courtesy of the broker’s services.

XM’s asset index is thus quite strong as apart from the aforementioned instruments, users also have the option of trading with shares, stocks, and forex. Most if not all of these tradable assets work well with any of the abovementioned account types that you may choose.

XM trading instruments

Trading platform

With XM, you can begin trading with the assets of your preference on both MetaTrader4 and MetaTrader5 platforms. The MetaTrader software is widely considered to be state of the art, and XM allows full compatibility with MT4 and MT5 with both MAC and PC devices. Mobile and smartphone compatibility is also added, and you can use XM’s trading platform with Android and iOS based devices.

Moreover, it is worth checking out the broker’s ‘WebTrader’ platform, which can be accessed instantaneously from your own browser. You can even use tablets to use the platform and have full account functionality, provided that there is a stable Internet connection.

Education and research

XM has a Research & Education center that provides daily and newsworthy updates regarding every major trading session as well as multiple briefings on an everyday basis. You will always know about the crucial market events and trends that shape the leading global markets regularly.

Regarding educational resources, you can take part in different webinars and seminars, as well as partake in some informative tutorials and videos. Recently, the broker even added a podcast known as ‘Global Market Insights’ through which you can listen to all of the latest news and updates while simultaneously performing other tasks.

Regulation

Being regulated is one of the most important things these days if you are a broker, and that is because the industry has witnessed a rapid increase in the number of scammers, hackers, and many other entities that seek to profit at the expense of others. This is why you should always check and verify where possible as to whether the broker you are considering is regulated or not.

Thankfully though, XM is regulated. Its main license is from the IFSC (International Financial Services Commission) in Belize, a nation located in Central America. XM Global Limited has officially been licensed by the IFSC under the license number 000261/158.

Closing remarks

In conclusion, XM offers a diverse range of assets that you can trade with and is a safe option that will always be as transparent as possible regarding its dealings and processes. Its account management, conversions, and tracking capabilities are all first-class, and its partner program is widely considered to be one of the best. It also supports accessibility options for over 20 languages and has a capable customer support team.

Overall, it is a great option for traders worldwide and we hope that you will consider choosing it as your preferred broker too after reading this review.

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