XM Review

Trading Platform:

XeMarkets has 10 different trading platforms. These are described below,
• XM MT4 Terminal
• XM Mac MT4
• XM Web Trader
• XM iPhone Trader
• XM iPad Trader
• XM Droid Trader
• XM Mobile Trader
• Mirror Trader
• XM MAM Trader
• Zulu Trade

XM offers Meta trader based platform for their traders. They provide Meta trader 4 platform for both Windows and Mac operating systems. Traders can use this terminal in Apple computers without using any Boot Camp or Parallel Desktop.

They also provide trading platforms for the iPhone, iPad, Android phones and mobile phones. XM also provides a web-based platform. Web-based platform gives traders an easy access instantly from anywhere through the internet.

In the Mirror Trader platform of XM, a trader can follow professional traders’ buy and sell signals. This platform also allows traders to follow and trade these signals automatically, semi-automatically or manually.

XM has a platform for fund managers where fund managers can trade and maintain multiple accounts at a time. This platform also includes the features of Meta trader 4 such as using Expert Advisors (EAs), advanced indicators, automated trading etc.

Beginners and experts can maximize their investment by following experienced traders live signals all day long. This opportunity is available in Zulutrade platform of XeMarket.

Main Features:

XeMarkets has many outstanding features that a new broker rarely has. They provide a high leverage ratio up to 1:888 and allow a trader to trade in a wide range of trading instruments. XM users can trade in CFDs, Equity Indices, Precious Metals and Energies.

Their account opening and deposit process is fast, easy and reliable. They allow various payment methods and traders can deposit using suitable funding option. XM also offers attractive bonus and promotions for their clients.

The most exclusive feature of XM is 100% execution without any rejection of orders. They are very strict about re-quotes, and they provide no re-quotes facility for their clients. They have a research section for traders where a trader would find trading signals, market analysis, forex news and economic calendar in the website of XM. This is helpful for beginner forex traders to improve their trading skills and profitability.

Types of Trading Accounts:

XeMarkets is offering 3 different types of trading account. Islamic trading account is added as an optional service in all these types of trading account. Types of trading accounts of XM has given below,
Micro Account:
This type of trading account is suitable for beginners and small traders as the minimum deposit amount is not much. The minimum deposit for this type of trading account is $5. High leverage ratio is also available for this account.
Standard Account:
Standard trading accounts are suitable for experienced forex traders. The lot size is bigger in this account, thus carries more risk than micro account. Initial deposit is as low as $5 and high leverage ratio up to 1:888 is available for this type of trading account.
Executive Account:
This type of account is suitable for big investors or traders as the initial deposit is $100000. The maximum leverage ratio for this account is 1:100.
Islamic Account:
Islamic account is for Muslim traders who follow Sharia law. This type of trading account is free of swap and interests.

Commissions and Spreads:

Most of the forex brokers do not charge any commissions for trading as they earn from the spreads. XeMarkets is also similar to other forex brokers. XM offers tight variable spread as low as 1 pip. Their pip pricing is fractional as the price of currency pairs are quoted to fifth digit instead of usual fourth digit.

Customer Service:

Customer service of XeMarkets is multi-lingual. They provide customer service in various languages.

XeMarkets provides 24/5 customer support through various methods. These methods are,

Live Chat
Email
Telephone
Facsimile

What We Liked:

Trading Efficiency: XeMarkets has become very popular forex broker due to its super fast execution speed without any rejection of orders. They are maintaining a strict and reliable no re-quotes policy for their clients.

Easy Deposit and Withdrawal Process: XeMarkets offers easy and fast deposit or withdrawal methods. They allow various payment methods for deposit and withdrawal. They accept deposits by China UnionPay, Credit Cards, iDEAL, Liberty Reserve, Moneybookers Skrill, MoneyGram, Neteller, SOFORT, WebMoney, Western Union, Local Bank Transfer and Wire Transfer. Their fund withdrawal is supported by China UnionPay, Credit Cards, iDEAL, Liberty Reserve, Moneybookers Skrill, Neteller, SOFORT, WebMoney and Wire Transfer.

Research Section: They have a research section in their website. This section is designed to help traders to understand forex market and make profits. This research section is full of trading signals, market analysis, forex news, economic calendar, sentiment analysis and forex calculators. This section is very helpful for both beginners and experienced forex traders.

What We Disliked:

No Mini Account: XeMarkets does not have any mini account option. Mini account is suitable for experienced forex traders. Absence of mini account is considered as a limitation for experienced forex traders.

No Managed Account: They do not provide managed account service. Managed account service is very helpful for beginner and new forex traders.

No Paypal Payment is Allowed: Paypal is known as a very reliable method for money transfer through internet. Paypal users can not deposit or withdraw fund in this broker. This is a major limitation for Paypal users.

The Bottom Line:

XM has some limitations, but overall they are an excellent broker to trade with. Their no re-quotes policy and fastest execution speed are their specialty. Their account opening, deposit and withdrawal method is fast and reliable as they are regulated in many European countries. They are very caring to their clients through various customer support methods. They also help their clients to make a profit by providing trading signals, market analysis etc.