XM Trading Review: Is It The Right Broker For You?
XM Trading is a broker that has been in the industry since 2009. It is one of the most popular brokers in the Forex market, offering trading in more than 55 currency pairs, as well as CFDs in commodities, indices, metals, and more.
XM Trading is regulated by the Cyprus Securities & Exchange Commission (CySEC) and is also a member of the Financial Services Compensation Scheme (FSCS). If you want to know about XM trading or about its trading reviews you can check this review site –https://forexbrokerscheck.com/xm-review-2023/.
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Trading Platform
XM Trading offers two different types of trading platforms – the MetaTrader 4 (MT4) platform and the MetaTrader 5 (MT5) platform. Both platforms are available for desktop, web, and mobile devices.
The MT4 platform is the more popular of the two, and offers a range of features including advanced charting tools, automated trading, and more. The MT5 platform is newer, and offers even more features such as the ability to trade directly from charts, one-click trading, and more.
Fees & Commissions
XM Trading does not charge any commission on trades. Instead, it charges a low spread, which is the difference between the bid and ask price of a currency pair.The spreads can vary depending on the type of account you have, but generally start at 0.1 pips for the Standard Account and 0.0 pips for the Zero Account.
Account Types
The Standard Account is available to all traders and requires a minimum deposit of $5. The Zero Account has no minimum deposit requirement and offers spreads from 0.0 pips.
The VIP Account requires a minimum deposit of $50,000 and offers spreads from 0.0 pips, as well as dedicated customer support and other benefits.