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Editor Rating
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- XM.com review
- Website: XM.com
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Review Summary:
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XM.com is an international investment firm that is dedicated to providing fair and reliable service to its members. Thousands of investors from across the globe use XM’s services to make online trades.
Table of contents
In today’s market, a reputable broker is the cornerstone of any successful trading strategy. Using an online broker can help investors to keep up with market trends and make smart trades over the Internet.
XM.com is an international investment firm that is dedicated to providing fair and reliable service to its members. Thousands of investors from across the globe use XM’s services to make online trades.
About XM.com
XM.com was founded in 2010 and is headquartered out of Cyprus with two regional offices in Greece and Hungary. Over 30,000 clients from across 200 different countries trust XM to help them trade forex, precious metals, energies and equity indices from a single account. The company has grown rapidly since its beginnings into a reputable broker that is licensed and regulated by CySEC, ASIC and the NZSFP.
There are two XM account types that guests are able to choose from. The Micro Trading Account is a simplified version of the Standard Trading Account, but offers many of the same features. Both memberships are completely free and have a low minimum deposit of $5. Hedging is allowed for both micro and standard account holders.
The main difference between the two account types is that for Micro members, 1 lot is 1,000 units of the base currency with a restriction of 100 lots per ticket. For a Standard Account holder, 1 lot is 100,000 units of the base currency with a restriction of 50 lots per ticket. XM.com offers all members tight spreads with no rejections and no re-quotes.
Every investor that signs up for an account with XM.com gains free access to the Metatrader 4, or MT4, platform across a wide range of devices. MT4 is one of the world’s most popular and widely used forex trading platforms. Both Micro and Standard members can download the following MT4 software through XM.com:
The Best Features of XM.com
Every XM.com guest has the opportunity to sign up for a demo account before applying for a Micro or Standard membership. A demo account can be a useful tool for both novices and experienced investors that want to practice trading strategies before risking any real money. Demo members are given a virtual balance of $100,000 to use in simulated trades.
Once an XM.com visitor feels ready, he or she can sign up for either a Micro Trading Account or a Standard Trading Account. Both option allow members to make free deposits and withdrawals. All XM accounts also offer negative balance protection to eliminate the risk of a client losing more money than is present in an account.
Every new member is automatically signed up for the XM Loyalty Bonus Program and starts earning XM Points, or XMP, with each trade. These points can be redeemed for cash or credit rewards. The longer an investor trades using XM.com, the more points he or she will earn per transaction. Customers can rise through four loyalty status ranks that include:
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In addition to earning extra cash through the company Loyalty Bonus Program, new members can also take advantage of the XM Welcome Bonus Program. Investors can earn up to $5,000 through this program by making smart trades. Members have a limited amount of time and a predetermined number of lots that they can use before the welcome offer expires.
XM.com knows that not all account holders are seasoned experts in online trading, and provides new investors with a variety of educational resources. Members can register for webinars or seminars held in cities all over the world and learn how to use different analysis techniques or trading strategies.
Guests are also able to use XM’s free economic calendar to stay on top of current market activity and make important trading decisions. The calendar allows investors to easily prepare for upcoming market movements by following economic indicators. Members can also keep track of market activity by using the forex trading signals hub, which offers account holders unrestricted access to forex trading signals for 10 financial instruments. This tool is updated on twice a day by certified financial technician Avramis Despotis.
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Each download comes with easy step-by-step installation instructions. Members can also find tutorial videos that explain how to use the many features that XM MT4 software has to offer.
Criticism of XM.com
XM.com has a complicated set of terms and conditions that a client must agree to before using the company’s services. If a customer violates these terms when making a trade or using any XM.com service, he or she is liable to have the offending account shut down and lose profits. Although the XM terms and conditions document is long and complex, customers should review it carefully to avoid accidentally violating a company policy.
XM.com Customer Support
The XM.com customer support department can be reached 24 hours a day from Monday to Friday. To contact the support desk, members can either email support@XM.com or call +357 25029933. A representative can also reached via live chat through the XM website. All calls and emails are answered politely and promptly.
Frequently Asked Questions
Q: In which languages can I receive support?
A: XM.com provides customers with support in over 20 different languages.
Q: Which payment methods does XM.com accept?
A: XM.com accepts most major credit cards, electronic payments, wire transfers, and local bank transfers. Customers are also able to pay via MoneyGram or Western Union but must cover all fees and transfer a minimum of 100 USD.
Q: How can I withdraw money from my XM.com account?
A: You can make withdrawals using a limited number of credit cards or electronic payment options, or you can withdraw money via a wire transfer.
Q: Which base currency options does XM.com allow customers to use?
A: XM.com allows customers to use USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD and ZAR.
Pros of XM.com
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Cons of XM.com
- Complicated terms of service are easy to violate
XM.com is a reputable international investment firm that allows members to trade forex, precious metals, energies and equity indices from a single account. The service is fast and easy to use, with almost all orders executed in less than a second. Customers from all over the world trust XM to help them make smart online trades.
XM.com caters to all customers, from casual investors to experienced traders. The Micro Trading Account is ideal for generating profit with a low level of risk and requires a small initial deposit. The Standard Trading Account is designed for more experienced investors, but still offers the convenience of a low minimum deposit.
XM.com members are not only able to earn money on successful trades, but also through incentive and loyalty programs. The Loyalty Bonus Program and the Welcome Bonus Program reward investors for choosing to use XM’s services. The company makes it easy for both new and senior members to earn even more through online trading.
XM.com is a large and reliable online broker that has helped thousands of customers to make smart and successful online trades. Members can take advantage of incentive programs, educational resources and other tools to make the most out of every trade.
