You already know that XM broker is one of the top leading Forex brokers from our previous XM broker review. Today I am here with the second part of XM broker review which contains its spreads, leverage, commissions, trading platforms, assets, account types and much more.
Let’s explore together.
XM Broker Spreads, Leverage and Commissions
XM broker offering 888:1 leverage which is unique in the Forex industry. On 8 different trading platforms, you can trade more than 100 financial instruments and more than 60 currency pairs both by the phone and on online.
Like the other Forex brokers, XM will not charge you any commission. Instead of that, a spread will be charged which conducted by this broker. Spreads start from 1 pip which is considered as low, but it depends on the account types and trading instruments.
Trades can choice variable spread and fixed spread. Instead of normal pricing of four digits to quote fifth digit prices, XM broker offers fractional pip pricing to provide the customers best possible spreads.
Learn about the trading platforms of XM broker.
XM Broker Trading Platforms
Most Forex brokers provide an industry-leading platform such as MetaTrader 4 and combine this with a good mobile app. XM offer NINE platforms, five of which are dedicated to desktop computers and four that are dedicated to mobile traders. They truly do not waste any opportunity to live up to the claim of “Valuing Trading Efficiency” and cater for traders of all levels and requirements.
Most of the Forex broker using MetaTrader 4 as their trading platform, some of them combine this platform with a mobile application. XM offers multiple platforms, some of them only for personal pc’s and some of them only for mobile devices.
Check out these platforms below –
MetaTrader 4 Platforms
• XM MT4 Terminal Platform: This is a version of MetaTrader 4 platform. This platform suits both expert traders and novice traders because of the highly configurable features. This platform has technical analysis tools and live news feed. Along with the manual features of trading, this platform also offers One Click Trading.
You can place trades automatically by setting up the EAs. To improve your trading experience this platform has a number of applications and add-ons which are able to help you set your trading strategies. On this platform, there is no rejections and re-quotes.
• XM Mac MT4 Platform: This another version of the MT4 platform which is compatible with Mac computers. You will have all the features of the MT4 platform in this version, but you can only use this version on Apple Computer. There is no need to run a parallel Windows emulator or Windows desktop.
• XM MT4 MultiTerminal Platform: This MultiTerminal platform is designed for the traders or money managers who are using multiple accounts and simultaneously execute multiple types of orders. Most of the MT4 features are available here but EAs are not allowed here because this platform is for only multiple accounts.
Also, technical analysis is not available on this platform, but you will have real-time system alerts and financial news. There are several execution models which are designed to cope up the requirements of trades who want to manage multiple accounts at a time.
• XM MAM Platform: I mentioned before that XM has a large number of solutions and it makes this broker “One Broker for All’. If you are interested in managing multiple accounts with full functionality of the MT4 platform, this is the perfect platform for you. Like the MT4 MultiTerminal this platform offering automated trading with the EAs functionality and providing technical analysis with charts too.
This platform offers so much more to the traders. With one main account, multiple account holders can manage multiple MT4 based trading accounts. If you think this platform suits you then I suggest you contact support team to fully learn about this platform’s functionality and features.
• XM WebTrader 4 Platform: This is the online trading platform of this broker. This online version is compatible with any PC, mobile device in supported browsers. There is no need to download this version. In your browser from XM.com open this platform and immediately you will gain full access to your trading account.
There are numbers of tools available here with no rejection and no-requotes. Unlike the MT4 platform, this platform offers One Click Trading, market analysis, economic calendar and streaming news. This WebTrader 4 platform is capable, powerful and flexible.
• XM iPad Trader Platform: iPad Trader platform is a unique version of MetaTrader 4 which is developed only for the iPad users. It offers the access to your MT4 account with interactive charts of real-time as well as zoom and scroll is also available. Real-time financial quotes instruments are also available here.
This unique trading platform has a set of trading tools with a full trading history which helps the traders to analyze their progress correctly. You will have a great remote trading experience with this platform for sure.
• XM iPhone Trader Platform (For IOS), XM Droid Trader Platform (For Android) and XM Mobile Trader Platform (For Windows Phone): For all the major smartphones operating system XM broker has different trading platforms. You will have MetaTrader 4’s scaled down version with the outstanding flexibility of trading.
Through these mobile trading platforms, you can access your trading account directly and can have the advantages of financial instruments. A full set of trade orders also providing these platforms which include technical indicators, trader’s trade history and pending orders with the capability to trade from the charts directly.
Metatrader 5 Platforms
XM broker has another advance version of MetaTrader platform and that is MetaTrader 5. MT5 has all the features of MT4 along with 180 stocks CFDs which makes MT5 platform a perfect multi-asset platform. With no rejection and no re-quotes you can trade Equity Indices, Gold, Stocks, Oil, and Forex.
XM broker has 7 different version of MetaTrader 5 platform and they are –
• MT5 Platform for PC
• MT5 Platform for Mac
• MT5 WebTrader Platform
• MT5 Platform for iPhone
• MT5 Platform for iPad
• MT5 platform for Android
• MT5 Platform for Android Tablet
You Should Check Out Our Previous Post On XM Broker – XM Review: Forex Broker Review
How about the platform design?
XM Broker Platform Design
XM broker trading platform interface is very attractive and inviting which is organized in a trendy type layout. There are configuration sections for buy and sell, graphs, instruments list, news section and market analysis tools.
The theme of this platform comes with two different options – light and dark which is unique and you can switch them anytime. In all trading platforms of this broker, the navigation system is so easy whatever it is based on the web, desktop or mobile. You can log-in immediately and can trade without any complexity.
Do you want to know about account types of this broker?
XM Broker Account Types
Mainly XM broker has 3 different account types depending on the needs of the traders. For the beginners, XM Micro account is perfect because in this account you can trade with a low investment amount which is $5. Who are able to take a risk and has some experience they can go for XM Standard account and for the expert traders XM ZERO account is suitable.
XM Micro Account
The traders who are eager to take a low risk this account is for them. The initial investment amount is $5 which is considered as very low in this market.
XM Standard Account
For the professional and more expert traders than a novice, this account is suitable though you will have the same benefits of Micro account. You can trade larger contract size through the Standard account.
XM ZERO Account
On 56 different currency pairs, silver and gold the spreads are as low as 0 in XM ZERO account. In this account, you will have up to 500:1 leverage.
Beside this 3 main account, XM has few other types of accounts.
XM Islamic Account
You know that Forex has a global market. So XM broker gives the traders a chance who are wishing to trade with their own religious law. XM Islamic Account is such kind of account for the Muslim community which is based on the law of Sharia.
XM Managed Accounts
Managed account is for them who has no time to trade or has no experience in forex trading. In this account you will get help from a professional account manager to main your account and place trades, they also help you to manage your funds.
XM Demo Accounts
XM broker is providing a free demo account by which traders can learn about this broker platforms and test them. You have no risk in this account because you don’t need to deposit real money in this account type. Moreover, you will have $100,000 virtual money to test the real trading experience.
What Trades XM Broker Offers?
More than 50 currency pairs you can trade in this broker platform.
AUD/CHF, AUD/CAD, AUD/NZD, AUD/JPY, AUD/USD, CAD/JPY, CAD/CHF, CHF/SGD, CAD/JPY, EUR/AUD, EUR/CHF, EUR/CAD, EUR/GBP, EUR/DKK, EUR/HUF, EUR/HKD, EUR/NOK, EUR/JPY, EUR/PLN, EUR/NZD, EUR/SEK, EUR/RUB, EUR/TRY, EUR/SGD, EUR/ZAR, EUR/USD, GBP/CAD, GBP/AUD, GBP/DKK, GBP/CHF, GBP/NOK, GBP/JPY, GBP/SEK, GBP/NZD, GBP/USD, GBP/SGD, NZD/CHF, NZD/CAD, NZD/SGD, NZD/JPY, NZD/USD, USD/CAD, SGD/JPY, USD/CNH, USD/CHF, USD/HKD, USD/DKK, USD/JPY, USD/HUF, USD/NOK, USD/MXN, USD/RUB, USD/PLN, USD/SGD, USD/SEK, USD/ZAR, USD/TRY
Beside the above currency pairs you can trade energies, precious metals, indices and commodities also.
XM Broker Trading Efficiency
XM broker is known for the quality execution, they execute trades in less than a second with 99.35% executing efficiency. All orders executed 100% and they follow a strict policy of no re-quotes.
Do you want bonus offers?
XM Broker Bonuses and Promotions
This broker provides a $30 no deposit bonus and after deposit, you can have up to $5,000 deposit bonus.
It is always good to read the term and conditions before accepting the bonus. They describe everything about bonuses in their terms and condition. For each type of bonus, they have separate document pages. I think these terms and conditions are the largest in the Forex market.
I am not kidding!
You have to trade minimum 50 micro lots and have to complete minimum 5 round trades to be eligible for no deposit bonus. You can check your trading and bonus status anytime in the history tab of your account.
For taking positions and after that for closing trades, you can earn up to $5,000 bonus. For every standard lot what you trade you will receive a $10 bonus. You have to trade 500 standard lots to get $5,000 bonus. Moreover, in 30 days, you have to earn this bonus amount. You will earn 10 cents as credit bonus if you trade micro lots.
You cannot withdraw the bonus amount, but you can use them for trading. If you can make a profit from that bonus amount then you can withdraw only the profit amount anytime.
Few conclusive words for you.
XM Broker Review Conclusion: Why You Should Join at XM.com?
I think there are many reasons that why you should join XM broker. The minimum deposit amount is low, several fast deposit and withdrawal methods, huge leverage, suitable trading platforms for every type of traders, suitable account types, a variety of trading assets and most importantly this broker is licensed and regulated by several jurisdictions authorities like CySEC. Their platform is advanced, designed for both expert and novice traders as well as providing portfolio managers.
I am pretty much convinced by XM broker and I think this broker is able to meet up your expectations. Test this broker by opening a demo account and check it yourself. After that, if you think this broker is suitable for you and you are ready to go then convert your demo account to real account, get bonuses and proceed to your Forex trading career with this safe Forex broker.