XM Review: Scam-Free Bonus with No Strings Attached
XM has established a sizeable global footprint in the retail trading space since it was launched in 2010. The broker has built up a global customer base for its comprehensive Forex offering and also provides trading in major stock market indexes such as the S&P 500 and heavily traded commodities such as Brent Crude Oil. The broker now has 500,000 clients from 196 countries and employs 150 professionals. More than 150,000,000 trades are executed on the portal which boasts of having never had to requote or reject orders. The service is designed to cater for beginners and professionals alike offering an intuitive platform that also provides a suite of trading tools and educational resources to match the needs of its diverse client base. In this review, Realmoney.co.uk takes an in-depth look at XM’s full product offering.
.Sign Up For£20*Welcome Bonus
Trade Forex, Commodities, Indices, Energies
Advanced Charts and Technical Analysis Tools
Zero Fees and very tight Spreads
Free Real-Time Quotes and Trading Signals
Claim the XM Bonus
Traders that open a new account with XM are entitled to the introductory welcome bonus, which stands at £20. The bonus is designed to allow users to practice with the full repertoire of trading options that are available when a live account has been opened. While you don’t have to make a deposit to be eligible for the bonus, the bonus itself can’t be withdrawn, only profits earned from trading on the platform. There is a 30-day limit from the date of opening an account in which time the bonus must be claimed otherwise it is withdrawn. The bonus offer has the benefit of being fully transparent in comparison to some rival bonus deals on the market.
Trading in 50 Forex Pairs
When you open a trading account you obtain access to 50 Forex pairs, along with commodities, equity indices, precious metals and energies. The Metatrader4 platform offers users access to currency majors such as EUR/GBP and USD/GBP, along with crosses and exotics. In total, this review found that the portal offers eight full feature trading platforms. Clients can use Contracts for Difference (CFDs) to place speculate bets across global markets. Traders on the platform obtain access to leverage that varies between 1:1 and 888:1. The depth of leverage exposure can vary in accordance with the value of the initial deposit. The platform also offers high-speed execution of orders with 99.35 per cent of trade orders completed in under a second. The broker doesn’t charge any fees for making a deposit or withdrawing funds from an account.
BREAKDOWN BY NUMBERS:
- Trading in more than 50 currency pairs
- Real-time market execution
- Up to 888:1 leverage
- 24-hours a day trading
Droid Trader on Your Mobile
You can locate XM’s MT4 mobile trading app for the iPhone and Android devices via the platform section of the website. XM has created a native app for the iPhone – the XM MT4 iPhone Trader – and a native app for Android – XM MT4 Droid Trader – which can be accessed with the same login and password used for a user’s PC or Mac. The MT4 mobile trading device is also available for iPad and Android Tablet devices. Traders using the app obtain a full suite of trading services, including real-time quotes, a full set of trade orders and pending orders, along with all types of trade execution and a detailed trading history. The app is available for Google Play’s Android on operating system 4.0 or above and on the iPhone on iOS operating system 7.0 or above.
XM Online Trading App:
Full MT4 account functionality
Full trading history journal
3 Chart types
Built in news functionality with push notifications
30 technical indicators
Trade Smart with Forex Signals
This review found that XM provides traders with a suite of educational resources and analytical tools to enhance their trading experience. The platform has a research and education center that offers daily market updates. A research section offers technical analysis that provides bite-sized analytical commentary on market moves. An investment themes section provides insight into recent market moves and the likelihood of key market events such as an interest rate increase by the US’s Federal Reserve. A learning centre provides traders with forex webinars, video tutorials and forex seminars. Traders that set up a live account are entitled to free and unlimited access to the trading signals hub. Here daily forex signals are offered for instruments, including EUR/USD and GBP/JPY. Users also obtain access to Forex webinars that are available in 14 different languages, five days a week. Video tutorials provide visitors with instruction into how to open a trading account and download the MT4 platform and using the mobile apps.
Demo Mode for MT4
Setting up a demo trading account with XM is easy to do.
An XM demo account can be quickly set up. After entering personal data you receive an e-mail to confirm your address. The MT4 trading platform can be downloaded on to your desktop PC. To help traders familiarise themselves with the MT4 platform, XM provides demo account users with £100,000 in virtual cash to play with. Forex pairs are located in a column on the left hand side of the screen. If you don’t use your demo account for longer than 90 days it is closed automatically.
XM’s parent company, Trading Point Holdings Ltd, was founded in 2009. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker also falls under the Markets in Financial Instruments Directive (MiFID) and is registered with the UK’s Financial Conduct Authority (FCA). Client funds are segregated and located to the company’s client bank. If you have a query regarding your account you can access the website’s live chat function or telephone the customer support desk which is open 24 hours a day, Monday to Friday. The platform has customer service support available in 26 different languages. Traders can also make a written inquiry to the company’s postal address that is displayed on the website.
- Telephone:+357 25029933
- Live Chat:Yes
- Contact form:Message Service
Payment MethodsVisa, MasterCard, Maestro, Diners Club, Skrill , Bank Wire Transfer, giropay and more. Account funding 100% automatic and instantly Processed 24/7
A Global Footprint
XM has established itself as a pre-eminent global broker in the retail forex space providing support for its service in more than 20 languages. This review found that, compared to other real money brokers, XM offers seamless access to the MetaTrader4 platform and is a portal that can meet the requirements of both novice and seasoned investors. The XM bonus of £20 is an attractive bonus offer. The broker’s mobile app is intuitive and accessible while the XM demo account provides beginners with a great way of familiarising themselves with the MetaTrader4 platform before putting real money at stake. If you are looking for a wide choice of currency pairs and assets to trade in a scam-free, safe environment XM may well meet all your key requirements.