The XM Group was funded on 2009 at Cyprus and the property has been recently transferred to the company “Trading Point of Financial Instruments UK Limited” moving the site from Cyprus to London. Now it's regulated by the english FCA (license n° 705428). It's one of the most publicized on the web and the marketing is its main weapon.
XM offers a large assortment of services boosted in a significant marketing plan, we can group in this list:
As for many broker, low spreads aee publicized but in reality they are a little higher than the average of the other top brokers, in fact the average of the 10 major forex currencies is about 2 pips. This higher cost can be justified due to the large quantity of free services this broker offers to its clientele.
XM provides 3 different accounts: Micro, Standard, Zero Account . The first two are almost identical and have variable spreads but 0 commissions and $5 as minimum initial deposit, while the third which works only on currencies with EUR and USD, has commissions but 0 spreads, and the minimum deposit is $100.
The company places private clients's money on a bank account which is separated from the society one. In case of insolvency by the society itself , any potential company debts can't be paid through clients's funds.
XM provides 3 different types of account to choose: -Micro with minimum deposit of 5$,maximum leverage 1:500, minimum trade volume 0,1 lots and spread from 1 pip -Standard with minimum trade volume 0,01 lotti- Conto Zero XM with spread from 0 pip and minimum deposit of 100$
Xm offers a quadruple bonus, 25€ free for users who subscribe to the broker + 50% as bonus on the first deposit up to $500 + 20% as bonus for deposits up to 4.500$ and a fidelity programm with which XM offers the opportunity during the year to join special seasonal bonus
Xm is one of the most famous broker in the world thanks to a well studied marketing plan developed through a large advertising campaign. The quantity of offered and publicized services is very significant but all of this costs in terms of spreads that even if they aren't exorbitant , they are still higher than those of the top brokers. For beginners this difference of costs could seem easy to underestimate but in long terms it could damage the profits in the face of so much advertising and so many services not really useful.
"I opened my first live account and I'm a bit disappointed; customer staff is one of the best I ever talked to but that's all I can think about as positive aspect"
My opinion on this broker is that they are almost sufficient.
When you pass from the demo account to the real one and still feel there's no difference? that's fantastic! This is the first time I use my live account and it actually works the same way the demo did! This broker won't be a hindrance to your success.
intuitive platform but the prices don't correspond to those on MT4 and this sometimes made me change strategies and give up on opening trades.
Customer care is quick to answer but not so professional.