XM.com is an online broker for trading in the Forex market. It is appreciated worldwide for the many possibilities it offers and, above all, for having tools suitable for both professional traders and newbies. Let’s discover the platform in detail.
What is XM.com
To trade in the Forex Market, Indices, Stocks and CFDs, you need to rely on a broker that operates in these markets. XM.com specializes in online trading, offering solutions suitable for both beginners and professionals. It is a broker that is recognized and certified by numerous regulatory bodies, such as CySec, CONSOB, FCA, BaFin and FSP.
It operates through a proprietary platform, the Web Trader XM, but it also allows you to operate through the famous Meta Trader, both in version 4 and 5: therefore, you will be able to choose numerous trading tools and a different interface depending on your investment needs, assets and strategies that you intend to pursue for your investments.
Features and Functionality
In order to start trading with this broker you will first need to open an account by filling out the various fields of the online form and attaching an identification document. It is important to fill out all the necessary documentation to trade in full compliance with current regulations.
Once the account is enabled, you can choose between different profiles, depending on your level of experience in the world of trading. XM.com offers the Micro Account, the Standard Account, and the XM Zero Account.
The difference between the accounts is mainly in the commissions, the currencies available for trading and the spread. Specifically, the Micro Account is the most suitable for newbies to online trading, while the Zero XM Account is the most professional solution, with a greater number of trading possibilities and, of course, a higher risk. It should be noted that all three accounts have the Islamic account option, which allows trading without breaking Shariah laws.
In order to learn how XM.com and its platforms work, it is also possible to opt for a demo account: this is a particularly suitable choice for those who are approaching trading as they will be able to carry out trading simulations with virtual money, i.e. without risking their capital. The demo mode is also very appreciated by professionals, who can use it to test new strategies and investment techniques, as well as to verify the correct setting of the bots.
Assets Available on the Platform
XM.com is a broker specialized in the Forex Market. However, there are numerous assets and therefore trading possibilities that are offered in addition to the exchange of currency pairs. Therefore, it will be possible to trade on
- gold and silver
- raw materials
- energy products
How to Trade on XM.com
We have already pointed out that in order to operate on XM.com it is necessary to proceed with a registration, i.e. you will have to open an account that will allow you to access a personal trading page. When you have your account, you will be able to carry out the operations that will allow you to conduct various types of trading.
The first one will surely be to make a deposit that will allow you to invest in the chosen assets. The minimum initial deposit is five euros for all accounts, namely the Micro Standard account and the Zero account.
When the investments are successful, the profits will be uploaded to your XM account and you can withdraw them at any time. Remember to always leave some credit to proceed with other investments taking into account all the risk management options, which will allow you to keep your capital safe at all times. At the time of withdrawal the transfer of the amount from your XM account to your card or bank account may take up to 24 hours.
Fees and Commissions
Among the strengths of XM.com are the costs and commissions that are very low compared to those offered by other brokers. In particular, those who open the Micro or Standard account will be able to carry out all operations without paying any commission.
Also regarding the costs, as already highlighted, they are really low: the expenses for opening the account are only five, regardless of the type of profile that is selected.
XM.com is a broker particularly suitable for those who want to trade safely and in full compliance with current regulations. It has a large number of advantages, including the possibility of using a demo platform to learn how to trade with the different tools available.
Another interesting aspect is given by the presence of a customer service, very professional and able to support the trader at all times: in the registration phase in all that concerns the bureaucratic aspects, in the technical aspects on the functioning of the platform and in those strictly related to the methods of investment.
It also offers free daily webinars and online tutorials to constantly update its traders.