XM broker is the retail subsidiary of Trading Point Holdings Ltd. The other subsidiary of the same parent company is XM Partners, which is a program for introducing brokers – basically acting as a liquidity provider for other brokers. At the moment, XM brokers have become among the top recognized Forex brokers in the world.
XM Brokers history
Trading Point Holdings was formed in 2009, initially starting with XM Partners. In 2012, the company acquired XEMarkets, a Forex broker and rebranded a year later to XM brokers. The broker has so far been licensed and regulated by almost all major financial regulators in the world, allowing them to sign up clients in most countries. The only exception is the US from where they can’t solicit or accept clients. Some of the notable regulators licensing XM brokers include CySEC, FCA and ASIC which shows that XM brokers can be trusted.
By 2017, XM brokers claims to have more than 1 million clients in their books, which is double the number they had in 2015. The broker has also been recognized for their excellent services, receiving several awards for this. The company is also a sponsor to various causes and they have Usain Bolt as the official brand ambassador.
Features offered by XM Brokers
What makes XM brokers so popular among retail Forex traders are their unique and effective services, some of which include:
Multiple trading instruments
XM brokers is primarily a Forex broker, and they offer more than 55 currency pairs to trade on their platforms. This is a lot for a Forex broker to offer, and it puts them ahead of the pack. Besides currencies, they also offer CFDs, which can be used to trade stocks, commodities and indices.
Here, too, there is a very wide variety to choose from because you get very many stocks and indices – both US and UK based, commodities from agricultural products to industrial and precious metals, and energy products like crude oil and natural gas. All these ensure that their clients can properly hedge against the markets without restrictions to any particular product.
Favourable trading conditions
XM brokers pride themselves in providing fast executions, even in volatile market conditions. This advantage can be confirmed from the various XM reviews on broker review websites and from our own personal trading. In addition, it doesn’t take a huge deposit to enjoy any of these benefits since the broker can take as little as a $5 minimum deposit. This small deposit provides the trader with a micro or standard account, both of which will be suitable to a trader depending on their trading strategy.
There is also a lot of flexibility that adopts to a trader’s preferences. For example, you can select whether you would like to pay by commission or spreads. Micro and standard accounts incur a spread, although the spread is already very small – as low as a 1-pip difference on major currency pairs. On the other hand, if you prefer to receive exact market quotes, the ‘zero’ account will only cost you a commission on the profits from your trades. There are also Islamic accounts offered, which are exempt from overnight and weekend swaps, according to the Islamic religion.
Another attractive offering is the high leverage that could be as high as 888:1. It allows a trader to make high-value trades even with a small deposit, thus making XM accounts very profitable. What’s more, there are plenty of bonuses available to help boost your trading capital. To begin with, there’s a $30 no deposit bonus which you get right off the bat, and an additional 50% increment on your deposits. These combined with the high leverage enables you to trade even bigger lots.
To make your deposits, you won’t lack the money transfer service you prefer because XM brokers has partnered with all major payment service providers like Skrill, Neteller, WebMoney, etc. There are also bank transfer options and credit/debit cards are also accepted.
XM boasts of offering 16 trading platforms, but the most important are MetaTrader 4 and 5. XM brokers is among the first brokers to allow live trading with MT5 which has several benefits over MT4. There are also mobile trading platforms, a web trader and you can even place orders via a phone call. The latter option is most suitable for traders who want to place high-value trades worth over $5 million.
It is clear that XM brokers have made an effort to include all traders regardless of their strategies and needs, and it is why they are so popular. This is definitely one of the best Forex brokers out there right now.