Jan 24, · XM Group has evolved into an online multi-asset broker offering 57 currency pairs and CFDs. Five CFDs on cryptocurrencies are also offered covering Bitcoin, Dash, 9/ XM Bitcoin Trading explained by professional forex trading experts, All you need to know about XM Bitcoin Deposit and Withdrawal, For more information about cryptodayly.de Bitcoin broker you can also visit XM review by cryptodayly.de currency trading website, The Top Forex Broker ratings fx brokers website and the cryptodayly.de online investing company and get all information you need to know about XM. Trading Point of Financial Instruments Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (Licence number: /10). XM Global Limited is authorised and regulated by the International Financial Services Commission (IFSC) (/).
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This helps the broker appeal to those all over the world and of any skill levels. XM also has 16 full-feature trading platforms for clients to choose from. XM Global has its registered address at No. Anyone interested in trading with XM should also be aware of areas where it is not available.
Residents from certain countries cannot receive services from XM Global Limited. You can view all of the relevant legal documents for XM on the Legal Documents page of the website. This includes documents such as terms and conditions, the bonus program, the loyalty program, the conflicts of interest policy, and more.
At the time of writing, there are 12 documents in this section, all available for download as PDFs. The broker offers an advanced trading platform as well as flexible trading conditions to accommodate a range of global clients.
The broker is dedicated to offering superior services. Those include trading currencies, CFDs, precious metals, energies, and equity indices. XM also offers its operational philosophy as a reason to consider choosing this company as a broker. Its philosophy is to earn loyalty as a way to ensure the satisfaction of clients. XM recognizes that credibility and reputation are closely linked. XM also takes steps to adapt to changing client needs as they become more demanding and sophisticated.
This is done by monitoring industry trends and technologies. XM is proud to have never compromised on factors impacting client performance. This is why management has visited more than cities worldwide to meet with clients as well as partners. XM feels that human interactions have a high value and always aims to deliver those interactions.
XM strives to offer a range of learning opportunities for traders of all skill levels. Part of this is hosting seminars around the world. The goal is to give traders the skills needed to make improved trading decisions. XM has already hosted hundreds of these seminars, with even more planned.
XM also runs the XM Foundation. This foundation focuses on creating equal opportunities via humanitarian action. The mission of the XM Foundation is making a positive difference to people and assist them with achieving their potential. This goal applies regardless of religion, ethnic background, and culture. The XM Foundation assists with development and access to vocational skills and education via initiating projects. It also provides international aid by working with international and local human aid foundations that are active.
These include specific donations made and the goals of those donations. XM also offers the ability to trade standard or micro lots, and the same execution quality across account types. There are free and regular intra-day market updates plus technical analysis. There is also multilingual customer support plus Personal Account Managers. This type of account has negative balance protection, trading bonuses, and no deposit bonuses.
Hedging is allowed. Trading on MT4 must meet the trade volume minimum of 0. These clients can only have up to positions open or pending at a time. There is a limit of lots per ticket. The main difference for Standard Accounts with XM is that 1 lot is , There is a restriction of 50 lots per ticket and the minimum trade volume is 0. Other than this, the Standard and Micro Accounts are essentially identical. You still have no commissions and negative balance protection.
Islamic Accounts remain optional. There are no trading bonuses and no deposit bonuses, plus hedging is allowed. There are no trading bonuses, no deposit bonuses, and hedging is not allowed. The contract size is 1 share with a minimum trade volume of 1 lot. Clients can have a maximum of 50 positions open and pending, and the lot restriction per ticket depends on the share.
XM can also help clients create custom-tailored accounts for trading forex. This allows flexibility to meet the needs of any client.
As previously mentioned, most of the account types available on XM are offered as Islamic accounts. Islamic or swap-free accounts do not have any rollover or swap interest for overnight positions. At this point, you just contact XM to change it to an Islamic Account. Keep in mind that XM does reserve the ability to revoke the swap-free status in case of abuse. That is because most brokers will give Islamic accounts higher spreads. XM, however, does not apply additional charges on Islamic Accounts.
Some brokers use this type of account, in which they transfer the interest charge to a different fee. As this would still be a charge covering interest, it goes against ethical and fair trading. XM gives clients the ability to trade more than 1, instruments across seven asset classes. These include forex, individual stocks, precious metals, commodities, cryptocurrencies, energies, and equity indices. XM offers access to eight commodities via futures CFDs.
XM also lets clients trade two spot metals instruments, gold and silver. Finally, there are five futures CFDs of energies. The specific trading conditions vary based on account type. This is known as dynamic leverage. Essentially, the margin percentage will increase as the volume per trade increases.
The spreads on Micro Accounts can be as low as 1 pip. There are no commissions. This information is identical for Standard Accounts.
There is no leverage on Shares Accounts and the spread is per the underlying exchange. There is a commission with this type of account. There, you will find minimum price fluctuations, starting point for spreads, swap values, average spreads, and value of a lot.
The information provided varies by asset class and can also include min and max trade size and margin percentage. All of this information is divided by account type, so you know where you stand for each specific asset.
It is important to note that XM uses variable spreads, as does the interbank forex market. By offering variable spreads, XM is able to eliminate the need for an insurance premium. That would be necessary for fixed spreads since they tend to be higher than the variable spreads. This is further hampered by the fact that many brokers restrict trading close to news announcements. As such, the required insurance premium becomes worthless.
By offering variable spreads, XM is able to avoid these issues for traders. There are also no restrictions related to trading at the time of news releases. XM also gives clients access to fractional pip pricing. This allows for the best prices from the XM liquidity providers.
Essentially, a 5th digit can be added to the typical 4-digit price quotes. This lets clients take advantage of even tiny price movements. It also allows for the most accurate quoting and tighter spreads. Essentially, clients with XM are typically able to select leverage between and This depends on the account type, asset, and trade size.
XM also allows you to request a change to your selected leverage, either a decrease or an increase. XM cautions traders that trading with leverage carries a risk. It does, however, also increase the potential rewards from trading.
To help clients manage real-time risk exposure, XM offers the ability to monitor your margin. You can monitor both the free and used margin, which combine as the equity.
The used margin is how much money you must deposit for holding a trade. Free margin refers to the quantity still in your trading account. This will fluctuate based on account equity. You can use it to absorb losses or open additional positions. XM also has a margin call policy that ensures the maximum possible risk never exceeds the account equity.
If your account equity dips under 50 percent of your required margin for open positions, XM sends a margin call warning. This is a notification that your account lacks sufficient equity for supporting the open positions. For those who typically engage in telephone trading, the dealers may give a margin call.
This is essentially advisement to either deposit funds or close positions. For further fund protection, XM also has a stop-out level. This is the equity level that causes your open positions to automatically close. For overnight positions, XM prides itself on offering competitive and transparent swap rates. The rollover policy is that XM will credit or debit client accounts and take care of rollover interest. This applies to any position held open following GMT.
It is important to note that rollovers do not take place during Saturdays and Sundays since the markets are closed. Despite this, banks will calculate interest on positions held during the weekend.
As such, XM applies 3-day rollover strategies on Wednesday. XM allows you to place a range of order types. These include trailing stops, stops, limits, and market orders. Place the trade at any time of the day, provided that it is during trading hours.
There is also the ability to place trades via the telephone for those who prefer this method. The trading hours on XM are those of the market. For the forex market, one market will close when another opens thanks to markets in New York, Sydney, Tokyo, and London.
This applies to phone trading. If you use the trading platform outside of these hours, trades will not execute. Instead, you can only view the relevant features. With XM, clients can trade with real-time execution and no requotes. Since the policy began in , XM has had no rejection of orders and no requotes at all.
You can place orders on the XM-supported platforms at any time during the trading hours. Positions stay open until your closing trade gets executed. The balance of your account will be updated in real time to reflect the current market prices. Just keep in mind that there is a maximum of positions that can be opened at a time. This includes pending orders and is per client. XM offers fractional pip pricing that makes it possible to trade using tighter spreads.
It also allows for the most accurate quoting possible. Fills for market orders occur with a simple click. Market orders can be filled with up to 50 lots or 5 million. Those who want to trade even larger quantities with market orders have two options. You can place the trade by phone or divide the order into several smaller ones. Fills for limit and stop-loss orders are guaranteed with up to 50 lots. These occur at the market price that is the best available.
This policy allows clients to manage their risk. There is a clear policy for market gaps between Friday close and the Sunday opening. This can include holidays and weekends.
XM will execute the pending stop and limit orders at the first market price available for the position size. Even in cases of illiquidity and volatility, XM has a competitive policy. XM partners with numerous liquidity providers to significantly limit the risk of illiquidity. The amount deposited in the bank account will be credited to the forex account within two to five business days. This information will help XM in providing better service to their customers. Compared to deposits, there are fewer withdrawal methods, which are discussed below.
Unless specified, the XM user will have to withdraw at least five USD at a time, and there are no fees for withdrawal. The processing time for the withdrawal request is usually 24 hours on working days if the customer has completed the KYC requirements and submitted the documents required. These documents are the identity proof and proof of address of the trader. However, the amount will be credited to the linked bank account, usually only after three to five business working days.
Visa, Visa electron credit and debit cards, Maestro and Mastercard credit cards can be used for withdrawing funds. Unionpay is another option for fund withdrawal.
Similarly, Skrill earlier called Moneybookers and Neteller are electronic payment methods used for fund withdrawal. Many of the forex traders are trading in large amounts, and they prefer to make bank wire transfers to withdraw their profit. The smallest amount permitted for making a withdrawal to a bank account is two hundred dollars.
The withdrawal fees will vary based on the bank selected by the trader. The amount is usually credited to the bank account two to five business days after the withdrawal request is made.
XM may process the bank withdrawal requests more slowly. The longest period XM bank wire transfer withdrawal was 5 days in my case in the last 8 years. All the funds of their clients are segregated and kept with the most reputed banks worldwide. Additionally, XM is also offering negative balance protection to their clients. Many people are interested in forex trading yet do not have the money to take the risk.
However, it is still possible to get some experience in forex trading without making a deposit. This allows the new trader to take the risk of trading without risking his own money. The amount is directly credited to the live trading account and helps the trader understand market conditions.
XM also allows new traders to create a demo or virtual account to trade in forex with virtual money. A trader can create any number of demo accounts to practice trading. If the demo account is inactive for a long period, it will be deleted immediately.