XM.com Review – Account types
At XM, there are two accounts to choose from. For beginners who want a relatively lower risk level when generating profits, a Micro trading account is suggested. On the other hand, a Standard account is preferred by those professional and more experienced traders with a more know-how on the aspect of financial markets.
Both Micro account and the Standard account has the same leverage of 1:1 to 1:888. Also, both accounts require a minimum deposit of $5, an extra 1 pip for the entire major pairs and a maximum open or pending order of 200 positions. However, their only difference is the contract size as the Micro account has 1,000 and the Standard account has 100,000.
Eligibility to request a free VPS from the Members Area is given to clients who are able to maintain a minimum amount of US$ 5,000 or other equivalent currency rates on the Equity-Credit option. This condition can be availed at any given time as long as they trade at least 5 round turn lots monthly.
In addition to this, free demo accounts can be opened also any of the trading accounts which has an access to the trading platform of MetaTrader4. Traders can use this as long as they want but ensure it won’t be inactive for more than 120 days from its log-in, hence it will be closed. Anyway, you can always get a new one as needed at any time.
Features
XM takes its pride on its history and achievements. Going back last 2011, its ‘Milestones in our Corporate History’ chart showed off their background of corporate envelopment and credibility.
To connect with their clients and partners, the XM management has visited and interacted them in over 120 cities around the world. They have been educating traders as they hosted more than 100 seminars. In this way, they are able to help their traders to conceptualize better trading decisions. Of any Forex broker around the world, all these activities enable XM to reach its highest levels of client retention.
From 196 countries, XM already has 300,000 active accounts and with over 150,000,000 trades completed without rejections or zero re-quotes.
Generally, there are about 100 financial instruments to choose from and can be acquired without commissions or hidden charges.
Education
Weekly webinars, which can be translated into 13 different languages (Arabic, Indonesian, Bengali, Polish, and etc.) are provided by 18 expert instructors presented on the site of XM Learning Center
Their video tutorials include variety topics that start from the basic of opening a Forex account and using an MT4 Droid pad on the Mobile Trader app.
Additionally, they are also conducting XM workshops and seminars. In fact, upon the recent XM review, the last one was taken in Kuala Lumpur Malaysia on March 28, 2015. For now, there are no new events that have been posted on their economic calendars.
Visually, there are also market reviews, technical analysis and Forex news reports seen on a daily basis. On the FAQ section, you can see all the types of questions and answers that are very detailed and advantageous to the clients.
Bonuses/Promotions
XM also offers super bonuses. In fact, given a limited offer, there was a time when all new deposits were awarded a bonus of 100% up to $5,000 along with an entry to the XM Loyalty program where traders can earn endless cash rewards and credit bonuses. It came also that they included Free VPS services such as the use of greater trade execution time, use of EA’s, optic fiber connectivity and 24/7 access from any location.
XM also offers special seasonal bonuses that include highly exclusive bonuses for an invitation-only basis for several times a year.
Deposits/Withdrawals
There is no minimum deposit required at XM. But for electronic funding like Moneybookers, Skrill, and Neteller, as well as bank wire transfers and credit cards, a minimum deposit amount of $5 is required. Withdrawals can be done in the same way. In order to effect a transaction, the trader will only click on “make a deposit” or “request a withdrawal” that are listed side by side on the website.
Customer Support
The XM Customer Support Desk is available during weekdays, 24 hours a day. Their representatives can speak English, Japanese, Greek, Bahasa Malay, Chinese, Bahasa Indonesia, Russian, Hungarian, Spanish, French, German, Italian, Hindi, Polish, Korean, Arabic, Czech, Portuguese, Bulgarian, Slovakian, Dutch and Romanian
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