XM Broker Review 2024: Forex & CFDs Trading Platform, Safe or Scam?

XM Broker Review 2024: Forex & CFDs Trading Platform, Safe or Scam?

The instruments page shows different asset classes, such as forex, CFD and Stocks. You need to click any options to view available instruments under each asset class. You can add as many tradable assets as you like using the “plus” button available on the top-right corner of the page. The real-time status of the market is displayed in the top left panel, allowing traders to monitor market activity while using the navigation window. XM overnight fee or the fee that a trader pays in case the position is opened longer than a day and is agreed through a swap contract that comes as a cost.

Bonus for Deposits & Promotions

• The Weekly Forex Outlook covers the main events of the past week and explores their effect on major currencies.
• Overall, XM can be summarised as a highly regulated Forex Broker specializing in Forex and CFD.
• It is also worth noting that MetaTrader 4 and MetaTrader 5 are very widely used.
• Whether you are new to online trading or trying out a new broker the educational materials found at XM are worth checking out.
• This includes daily market updates, economic events, tutorial videos, webinars, seminars and more.
• The company processes a withdrawal request within one business day.

Skrill and Neteller e-wallets offer nearly instantaneous deposits and withdrawals for even faster options. XM also provides region-specific local payment methods, such as PayTrust88, that depend on your location. The availability of base accounts in EUR, GBP, USD and JPY can help minimize conversion fees, unlike eToro, which only supports GBP and USD for deposits, holdings, and trades.

XM Tools and Resources

XM unfortunately cannot accept clients from the residents of certain countries, such as the United States of America, Canada, Israel and Iran. XM offers Forex, Stock CFDs, Turbo Stocks, Commodities, Indices (Equity and Currency), Energies (Cash and Futures CFDs), Precious Metals (Spot and Futures CFDs), Thematic Indices and Crypto CFDs. Select one or more of these brokers to compare against XM Group.

• Additionally, XM remains respectful to the idea of Islamic Accounts, never using “swap-free in disguise” accounts.
• Overall, XM Group is clearly one of the best forex brokers in my view, primarily due to the strict regulation from multiple regulative bodies, the deep amount of liquidity pools and huge global presence.
• The average time the company takes to release your funds via card payments and e-wallets is one business day.
• That is because most brokers will give Islamic accounts higher spreads.
• The program is designed to benefit active traders based on their trading volume.

What Type of Research Does XM Offer?

The forex webinars are available 19 languages, 7 days a week with 65 webinar instructors. I think it is great for finding trading signals and can save you hours by automatically scanning the markets on your behalf. It is also a great solution if you don’t have the knowledge or experience to decide which way the market is moving.

Trading History

When you trade indices, you can get exposure to a whole economy or sector with just one position instead of opening several trades with different companies. The broker allows you to trade 13+ indices, such as AUS200, EU50, US500, etc. The broker is part of XM Group which comprises two entities, XM Global and Trading Point Holdings Ltd.

Accounts can be opened in  a great selection of currencies including USD, GBP, EUR, CHF, JPY, PLN, SGD, ZAR, AUD, HUF & RUB. The various different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. XM Group give you access to trade a wide range of more than 1000 financial instruments including Forex, Commodities, Stocks, Shares, Indices, Metals, Energies & CFDs. This is an excellent selection that I would put up there with some of the best in the industry. However, if you want even more, you could consider TMGM who have over 15,000 or Plus500 with more than 2,000 CFD instruments. This is great for those of you who are fans of auditory learning methods and perhaps less boring than reading xm forex review complex trading guides.

With free webinars, daily market analysis, and live sessions like “Forex Power Hour” and “US Market Open Hour,” traders can learn at their own pace. Expert instructors provide insights on strategies, technical indicators, and macroeconomic events, helping traders make informed decisions and improve their skills. MT4 is a popular, user-friendly platform with customization options and advanced technical analysis tools.