, a trustworthy, supportive, and reliable broker is a much-needed friend. A friendly broker.){kind=link}
- XM broker is a well-reputed and licensed broker in the forex sector.
- It has more than 10 million customers spread across 190 countries.
In the jungle of trading, especially in forex (FX), a trustworthy, supportive, and reliable broker is a much-needed friend. A friendly broker is one with supportive customer service, excellent web and mobile trading platforms, low fees and productive educational tools. The account opening process for beginners should not be tiring and must demand a low minimum deposit. Above all, the platform should be legitimate and licensed by credible regulatory authorities.
A prominent name among forex brokers is XM exchange, a company which, through its constant innovation and support, operates in 190 countries presently, with more than 10 million global users. The platform is accessible in 30 languages and boasts more than 900 working professionals with diverse knowledge of the financial sector.
Review of XM Broker
The platform was launched in 2009 by some interbank dealers to provide easy access to the forex market to retail traders. Since then, the company has grown to become a reputable name with its unique products and features. While XM primarily trades in contracts for difference (CFDS), it also supports underlying stocks, cash equities, and real stocks. It is advised for beginners to start with shares before jumping to CFDs, considering the risk involved.
Fraud and hoaxes have affected people who fell into the trap of false telegram or online brokers and lost their money. Hence, legitimacy becomes the initial checkpoint for choosing a broker. XM is regulated by several credible bodies around the globe which include Cyprus Securities and Exchange Commission (CySEC), International Financial Services Commission (IFSC), Financial Conduct Authority (FCA), Commodity Futures Trading Commission (CFTC), and Australian Securities and Investments Commission (ASIC). Apart from these, there are several Tier 2 and Tier 3 bodies, making the platform reputable among users.
The flagship trading platform of XM broker includes the MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These tools include live webinars by professional dealers who also answer queries and provide expert guidance. Books and tutorials help users navigate the in-built tools and features step-by-step. Video courses cover specific topics, enabling users to learn at their own pace, with the level ranging from basic to advanced analysis.
The platform offers several educational tools to make onboarding fresh and naive traders easy. These include live webinars by professional dealers who also answer any query and provide expert guidance, The books and tutorials are helpful to provide step-by-step navigation of the in-built tools and features. The video courses on specific topics help them to learn at their own pace and the level ranges from basic to advanced analysis.
The platform provides a wide variety of instruments for traders to invest their money, helping them diversify their portfolios and minimize risks. These instruments include stocks, ETFs, CFDs, energies, precious metals, and others. Traders can withdraw and deposit their funds in different methods which include credit and debit cards, bank transfers, and e-wallets. Withdrawals might be processed in 24 hours, while deposits are processed instantly.
Conclusion
With its global user base, XM broker is designed to accommodate the vast diversity in religious beliefs, ethnicity, language, and cultural values. The trading conditions are flexible to suit such a large audience. The platform aims to earn consumer loyalty through product satisfaction and has shaped its future vision accordingly. XM remains updated with the coming up technologies and continuously works to meet the customer expectations.
