XM Review

XM Review

Author
  • Website
  • Trading Platforms
  • Support

Company Information

Trading Point was founded in 2009 by market experts with extensive knowledge in the field of global Forex and capital markets. Over the last four years, it assumed an internationally recognized reputation as a top rated financial institution. Trading point has recently acquired XM.com and XM has now become the trading name for Trading Point Holdings, Ltd a financial service provider that offers online trading in global financial markets.
Trading Point is regulated by the CySEC and registered with FCA (FSA, UK). It operates in accordance with MiFID and is also registered with local licensing agencies in many European countries. Trading Point NZ Ltd (in New Zealand) is registered with the FSP.

Features

XM offers direct access to 100 financial instruments including Forex, equity indices, precious metals, and energies (oil), with transparent real-time pricing, low spreads, and flexible leverage. There are many trading platforms available including the popular MetaTrader 4 and WebTrader with versions compatible with Macs and mobile usage. Their XM MT4 Multiterminal platform makes it easy to handle multiple trading accounts simultaneously from one platform.
There are three account types to choose from-Micro, Standard and Executive. The Micro and Standard accounts require an initial deposit of $5.00 with leverage of 1:1 to 1:200. $100,000 is the minimum deposit in the Executive account with a 1:1 to 1:100 leverage. The spread on all three accounts is a tight 1 pip. An Islamic Forex account is available for those who follow Sharia laws.
In addition, XM had a great demo account for beginners with a starting balance of $100,000. However, the time limit was not indicated on the site.
There are also welcome bonuses which are instantly credited. They are available for all accounts and range from 50% for a $5.00 to $500 deposit and 30% for deposits up to $10,000.

Education and Support

Educational services at XM.com include free webinars open to everyone, video tutorials and Forex seminars. A full Forex course is in the offing.
An XM support team is on standby 24 hours on 5 business days ready to assist clients in 18 different languages via chat and email.
All in all I found XM.com to be a user-friendly and informative website. All topics are clearly delineated and navigating from one page to the next is flawless. It was a pleasure to use.