XM Reviews

Islamic Accounts

Recognizing that the Forex market is a global market, XM also make allowances for those traders who wish to trade in accordance with their religious belief. The Islamic trading allows traders to conduct trades based on Sharia principles.

Managed Accounts

Clients who don’t have the experiences or time to trade for themselves can also rely on the additional services provided by XM through the form of managed accounts. A professional account manager will help clients’ with their trades and also help to manage their funds for them.

Demo Accounts

With the Demo account provided by XM, traders can test out their trading strategies without having to risk real money. Each demo account is provided with $100,000 in virtual money so traders can try to simulate real trading conditions.

FUNDING METHOD

WITHDRAWAL METHOD

ABOUT MARGIN:

Margin is the amount of collateral to cover any credit risks arising during your trading operations. Forex margin can be rather high, and the bigger it is, the more risk it imposes, but it also allows a bigger profit.Margin is expressed as the percentage of position size (e.g. 5% or 1%), and the only real reason for having funds in your trading account is to ensure sufficient margin. On a 1% margin, for instance, a position of $1,000,000 will require a deposit of $10,000.

ABOUT LEVERAGE:

In the forex market, leverage is used by investors to profit from the exchange rate fluctuations between two different countries. A great advantage is that it is exactly the forex market where investors can obtain the highest leverage. Using leverage means that you can trade positions larger than the amount of money in your trading account. Leverage amount is expressed as a ratio, for instance 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.

How would it be possible to trade 500 times the amount you have at your disposal? At XM you have a freeshort-term credit allowance whenever you trade on margin: this enables you to purchase an amount that exceeds your account value. Without this allowance, you would only be able to buy or sell tickets of $1,000 at a time.

For any of the XM trading accounts, you can select your leverage on a scale from 1:1 to 888:1. Margin requirements do not change during the week, nor do they widen overnight or at weekends. What is more, atXM you have the option to request either the increase or decrease of your chosen leverage.*

PLEASE READ ALL TERMS AND CONDITION BEFORE OPENING A TRADING ACCOUTN WITH THIS BROKER.

The rebranding exercise is indicative of the fact that XM is trying to adapt to the changing market environment. This is a positive move as it shows that the broker is responsive to their clients’ actual needs. The “No Requote” policy is a good way for them to differentiate themselves from other brokers as this is a major problem faced by many traders in a fast moving market. Taken as a whole, XM seem like an ideal broker for both new and experienced traders.