XM Basics
| 🏛️ Based in | Limassol, Cyprus |
|---|---|
| ⚖️ Regulation | CySEC, FCA, DFSA, IFSC |
| 💰 Minimum Deposit | $5 (2000 Naira) |
| 💳 Deposit Options | VISA, MasterCard, Bank Wire, Skrill, Neteller. |
| 💳 Withdrawal Options | VISA, MasterCard, Bank Wire, Skrill, Neteller. |
| 📌Open an account | Start Trading with XM |
About XM
XM is an award-winning international broker. It has a global client base and provides its services to traders in over 196 countries, including Nigeria. XM prides itself on its customer service and its top priority is making sure that its clients get a seamless trading experience.
Trading Instruments
XM offers traders the choice of over 1000+ financial instruments. You can trade currency pairs, commodities, indices, stocks, metals and energies – all from the same account.
XM Table
| Type | Spreads | Min. Deposit | Max. Leverage | Commission |
|---|---|---|---|---|
| Micro | From 1.7 pips | $5 | 1:1000 | $0 |
| Standard | From 1.7 pips | $5 | 1:1000 | $0 |
Trading Platforms
XM has two trading platforms. These are MT4 and MT5. They are available on PC, Mac, mobile, and tablets. There are also web versions. The trading conditions you get on the platform will depend on which account you choose.
Regulation
XM is a regulated forex broker. It is licensed by ASIC, by CySEC, and by the DFSA. XM is also registered with the FCA in the UK and many major EU regulators.
Minimum Deposit
The minimum deposit ranges from $5 to $100, depending on which account type you choose.
Deposits and Withdrawals
XM offers several payment methods including credit cards, Skrill, Neteller, and bank transfers. Withdrawal requests are processed within 24 hours.
Fund Safety
XM follows all industry recommendations for client fund security, It keeps client funds in segregated accounts, in tier-one banking institutions. It also ensures that client funds can’t be used either by XM for its own purposes.
Trading Tools
XM offers six technical indicators. They are only available with a VIP account.
Education
XM offers free access to its fundamental and technical analysis. It also provides free video tutorials, free forex webinars, free trading signals, and free market outlook.
Extra Trading Services
XM offers a trading signals service in partnership with MQL5. It also offers a VPS service for $30 per month if you have less than $5000 in your account.
Industry Awards
XM has won many industry awards including best trading experience, best forex provider, and best customer service. It has also won awards for it market research, its educational resources, and its high level of trading support.
Documents
To open an account you need to provide XM with certain documents. You need to give them a colour copy of a valid passport or another official identification document issued by authorities (e.g. driver’s license, identity card, etc). You also need to give them a copy of a recent utility bill (e.g. an electricity bill or a bank account statement) dated within the last 6 months.
XM Customer Support
XM has a great customer support team. You can contact them via phone, email or live chat.
Final Thoughts
XM is a reputable, regulated forex broker. It offers excellent trading services to its clients. It also offers great educational resources, helpful market analysis, and useful trading tools.
Looking for more information? Check out our full list of forex broker reviews.