XM Pros and Cons
Is XM the forex broker you have been looking for? Or is it a broker you should avoid? Check out our XM Pros and Cons and make that decision on your own.
XM is one of the most popular Forex broker brands. But with that said, being popular doesn’t make them perfect. We have compiled a list of XM Pros and cons for 2018.
- Great for beginners – XM Offers low deposits starting at 5$ to start trading. This makes it easy for newbies to try forex trading with very little money on the line.
- Education – XM is known for its seminars and efforts to educate clients to help them make better trading decisions. They have hosted over 100 seminars. Traders will find market outlooks, webinars, tools, and more on the website.
- Regulation – XM is regulated in 3 different countries. They carry licenses with the FCA, CySec and ASIC all well respected regulator bodies.
- High leverage – While this is not exactly a prositive, if high leverage is what you are looking for then XM is the way to go. XM offer leverage as high as 888:1.
- Trade over 700 instruments – XM over a wide range of tradeable instruments including Forex, Stocks, Precious Metals, Energy, Cryptocurrencies and Equity Indices markets.
- A truly global company – with offices all over the globe XM has clients in over 196 countries and have staff that speak over 30 different languages.
- Popularity – Over 1.5 million clients use XM for trading. XM brands it self as a “Big, Fair and Human Broker.” Popularity is one thing but they can back it with the numbers.
- Bonuses offered – They are most widely known for offering there – no deposit $30 dollar trading bonus that are available to new clients. Another risk free way to start trading Forex. XM now offers a two-tier bonus on your deposit, up to $5,000. Conditions apply.*
- Negative balance protection – Not very many brokers offer a negative balance protection if things go south. This is an added perk vs its competition.
- Limited Trading platforms – Many other brokers offer wide range of platforms to trade on. XM offers 3 Metatrader 4/5 and Webtrader.
- Beginners broker – More so known as a entry level broker and not exactly marketed toward high volume professional forex trading.
- Like many Forex brokers, XM does not accept clients from the US, Canada and Israel.
- No live chat.
Do you agree or disagree? We would love to hear your input. Please comment below!