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June 24, 2022

How to open a Forex trading account with XM?

How to open a Forex trading account with XM?

Open-XM-account-and-Download-XM-Mobile-Apps-for-Account-and-Trading-Management Open-XM-account-and-Download-XM-Mobile-Apps-for-Account-and-Trading-Management

XM - What's now?

XM has updated the maximum leverage to 1:1000 in June 2022.

Leverage 1:1000 does not apply to client registered under the EU regulated entity of the Group. The maximum leverage for Trading Point of Financial Instruments is 30:1.

How do I open an account with XM and start trading Forex?

  1. Register online and open an account. You must select an account type during the process.
  2. Log in to XM’s Customer Portal and submit a copy of your ID and proof of address.
  3. Deposit via bank wire, online wallet or card. (Instead of depositing money, you can also start trading by earning a $30 no deposit bonus.)
  4. Log in to XM’s MT4 or MT5 platform and start trading.

The estimated time to complete registration is 2 minutes.

Are you having some trouble with getting started? Contact their customer service through XM’s official website.

Sign up at XM web page

What is XM?

With over 5,000,000 clients since its founding in 2009, XM has grown into a large and established international investment firm and has become a true industry leader.

XM currently consists of over 600 professionals with years of experience in the financial industry.

XM’s extensive experience coupled with support for over 30 languages ​​makes XM the broker of choice for first-class traders wherever they are. XM has the expertise and resources to help everyone achieve their investment goals like only a large brokerage can do.

  • Over 5,000,000 customers
  • Traders from 190+ countries
  • 25+ secure payment methods
  • 16 full-featured trading platform
  • Over 30 languages ​​supported
  • Private Customer Service

XM Group is a group of regulated online brokers. Trading Point of Financial Instruments Ltd was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC 120/10), Trading Point of Financial Instruments Pty Ltd was established in 2015 and is regulated by the Australian Securities and Investments Commission (ASIC 443670), and XM Global Limited was established in 2017 and is regulated by the Financial Services Commission (000261/309). The broker has more than 1,000 financial instruments for trading on the MT4/MT5 platform, including foreign exchange, stock CFDs, commodity CFDs, equity index CFDs, precious metal CFDs, and energy CFDs. They offer the most reliable and fast order execution of them all. The company prides itself on the statistics that more than 99% of its transactions are executed in less than 1 second and it serves more than 2.5 million customers in 190 countries in 30 languages.

Highly regulated by financial authorities in all relevant jurisdictions, XM enhances its reputation by offering a healthy mix of features that users want most: security, support, easy account financing and withdrawals, and low fees. This constructive combination makes XM a smart place to start a trading career or take it to the next level.

Go to the official XM website

Fair, Honest, Reliable

Trading with XM means trading with a fair and reputable broker.

All clients enjoy the same fair and ethical trading conditions, regardless of their net capital value, investment size or account type.

XM provides a fair and trustworthy trading experience by pioneering a strict no-requote and no-reject policy.

Additionally, 99.35% of trade orders are executed in less than a second with no requotes and no rejections.

XM’s business model relies on a firm belief that FX execution is everything.

At XM, client funds are paramount. XM works with investment grade banks and uses segregated accounts for security.

The Investor Compensation Fund insures retail client funds up to €20,000. At the same time, all clients benefit from negative balance protection, so they are never at risk of losing more than their account balance.

Open XM Account

Who does the XM Group recommend?

Any XM user will be well served by the various account types offered at the start of membership, but with negligible utility between them, it means that people will never choose the “wrong” account. That said, ideal XM users should be familiar with MetaTrader 4 or MetaTrader5, as these are the only platforms connected to XM brokerage services.

Because of the slight learning curve associated with MT4 and MT5, it is recommended that you already have some trading experience before depositing funds into XM, or at least use the following model demo account where XM does not expire.

Go to XM official website

Key Features of XM Group Services

VPS Server:
Certain members have access to their own virtual private servers located near XM’s London data center, providing unparalleled execution speeds regardless of their own internet connection, location or power source. This removes extraneous factors that could affect trading, but this feature is only available to account holders with a minimum total monthly balance of $5,000 and a trading volume of 5 lots or 500 micro lots.
No fees or commissions:
XM offers users a free trading model with no additional fees for trade execution, deposits or withdrawals. Instead, XM generates revenue from spreads and uses a neat visual tool to show how much larger or smaller their spreads are compared to the market average.
Guaranteed Stop Loss:
XM guarantees the execution of stop-loss and other limit orders of up to 50 lots at the best price. It also reinforces this idea by offering guaranteed stop-loss orders, which are optional (and charge a small fee) but are always executed at the target price with zero slippage.
Margin Trading:
Traders with a higher risk tolerance and more expertise can trade on margin, which means their positions gain the advantage and require less capital to expand their risk exposure. Consequently, trading results and losses are also multiplied, although negative balance protection and margin calls are designed to help XM users avoid potential adverse effects.
Kindly Support:
XM provides users with a number of ways to contact their customer support team. The live chat widget is very helpful for those who need help but can’t make it clear via email, or have issues that require immediate attention. Contact by phone is also possible, but all support services are limited to Monday-Friday.

Sign up for XM

XM Group Compliance & Governance

In order to serve users from more than 190 countries, XM has sought the supervision of relevant financial institutions. Currently, XM is licensed by Australian and EU regulators: ASIC and CySEC, respectively. These agencies ensure that XM takes full responsibility for its customers and is accountable to them. Part of its obligations involve keeping client funds safe. This is achieved through segregated funds storage exclusively at Tier 1 banks.

Go to the official XM website

XM Group Reliability and Security

XM excels due to the reliability of its platform and execution. The company claims that more than 99% of its trades are executed within a second, and there are no problems retrieving quotes or order rejections. As such, XM is one of the most trusted names among professional traders, for whom any small error or delay can be a problem.

Fund security is another area where XM excels, with all client funds held in bank accounts separate from the company’s operating funds. Finally, thorough compliance efforts with multiple financial institutions have given XM more confidence that XM is prepared to fully comply with the letter of the law on behalf of users.

Open an account with XM

XM Group User Experience

Without their own dedicated dashboard, users already familiar with MetaTrader can seamlessly transition to the standard trading interface without having to be familiar with the previous ones. Both web trading and desktop trading applications are available through MetaTrader (choose from MT4 or MT5).

Although it takes some time to become familiar with the platform’s many different utilities, MetaTrader’s long history of serving traders of all experience levels and constant efforts to improve aesthetics and usability have made them popular. MetaTrader offers a relatively simple user experience, with all functions placed logically, such as analytical tools, order history and open positions, charts, etc. Additionally, XM hosts weekly free webinars on popular topics, highlighting its investments in user education.

XM also ensures that its traders are kept informed of basic trading educational materials and strategies. A comprehensive set of videos and articles on various topics provides basic education, while real-time analysis sections for different markets help keep traders informed of current trends.

Go to the official XM website

Final thoughts on XM Group

XM is a highly reliable trading platform that removes the uncertainty behind order execution while offering high compatibility with MetaTrader 4 and 5. Investors looking to trade cryptocurrencies or exchange-traded index funds (ETFs) should look elsewhere, however the number of assets on offer from XM is still impressive. Traders of all experience levels can use the site’s all-inclusive educational suite to learn how to trade proficiently. Additionally, the XM team is ready to respond promptly to any questions in the correct language, but support is only available 5 days a week. Ultimately, XM excels in areas that matter most to traders, such as valuing accuracy and cost-efficiency over other value-added perks.

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