XM is a trademark that has been registered by Trading Point Forex leverage Ltd. Trading Point of Financial Instruments Ltd, which is located in Cyprus, and Trading Point NZ, located in New Zealand.
XM specializes in creating an environment online that can be used for online trading for forex, futures, and CFDs. It advertises that it will not have any re-quotes, will not reject any trades, and will execute all trades. There are three different types of accounts that are offered by XM. They are very similar to one another, offering the same number of currencies, the precise same leverage, spreads on majors, maximum number of pending orders, and commission fees, which are none. The only differences is that the Micro account has 100 lot restrictions per ticket, while the Standard and Executive accounts have 50 lot restrictions per ticket.
There is no commission fee charged for any of the accounts or any of the other trades that can be made, including on Forex, spread betting, CFDs, stocks, futures, or options. It offers a web application, as well as a mobile application that allows traders to continue to trade even while on-the-go. There is no monthly fee to pay for using this trader. Instead, the monthly fee is paid for the account that is created by XM. There are no fees for making a deposit or a withdrawal. It is possible to use multiple credit cards to make deposits, electronic payments for withdrawals and deposits, bank wire transfers, and local bank transfers. In order to make a withdrawal, the trading account needs to be validated as a security precaution.
It is also possible to transfer funds from one account that is used for trading to another account that is used for trading. There are many different tutorials that those who are new to trading can utilize in order to get into the game. They also have customer helplines that can be called if a customer has a question. The only problem is that there is no live support offered with the trading platform. All customer money is kept completely safe because it is stored in Barclays Bank Plc, which has been rated highly by all credit agencies. It is also licensed by the Cyprus Securities and Exchange Commission and the Financial Service Providers Register. XM has registrations through the Financial Conduct Authority, the Bundesanstalt für Finanzdienstleistungs-aufsicht, the Commissione Nazionale per la Società e la Borsa, and many other highly rated financial organizations throughout the world.