Home / Fintech / The world’s best Forex companies: Profiling XM.com

The world’s best Forex companies: Profiling XM.com

XM.com (XM, formally known as XEMarkets until 2013), and owned by Trading Point of Financial Instruments Ltd, has its head office in Cyprus.

It is regulated through its trading licences with CySec (Cypys), ASIC (Australia), FSP (New Zealand), FCA (UK). MiFID (EU), BaFin (Germany), CNMV (Spain), AFM (Netherlands), FI (Sweden), FIN (Finland), PSZÁF (Hungary), CONSOB (Italy), ACP (France), and KNF (Poland). Still, they do not accept US traders. But with all their licences, they are allowed to bank with British banking institution, Barclays Bank PLC. This provides their clients with the knowledge their funds are held in trust, and away from operational funding. Plus, clients are offered protection through the Investor Compensation Fund, if XM files for bankruptcy.

The company itself has a daily trading volume of $13.4 billion and is currently the 2nd largest retail Forex broker internationally. The company functions on its core values of business transparency, professional client communication, as well as excellent trading conditions.

The broker is very popular among day traders and high volume traders because of its combination of low spreads, excellent execution and high leverage. Plus, XM has no re-quotes of trading orders, no commission or any hidden fees. 99.35% of trades are completed within less than a second. The leverage of 888:1 is unique. Traders have access to 50+ currency pairs and more than 100 financial instruments that can be traded online, or telephonically. Plus there are no caps on deposits. There is no discrimination regarding the type of traders. All deposits starts at $5 on multiple Forex accounts. XM offers two Forex account types only, which has custom tailored conditions and base currency option for different currencies. The micro trading account ($5 – $20,0000 meant for beginners, with lower risk. The standard account is for more experienced traders. Clients that maintain a sum of $5000 are eligible to request a free VPS from XM’s member’s area. The ‘third’ type is the demo account. But regarding Mirco or Standard accounts, are they can be opened as an Islamic account that is also known as the swap free account. This account complies with Islamic law regarding interest.

XM offers its clients access to 8 trading platforms. Clients can limit, stop, trail orders all from 1 account. It not only speeds up operations, but allows for flexibility. XM’s MetaTrader 4 allows the use of Expert Advisors.

The company has software that scans funds to ensure no negative trading, and avoids losses that exceeds traders’ investments. Withdraws are same day, and the transfer fees are covered by XM. Plus multi payment options are available. Plus, the company offers bonuses, either seasonally throughout the year or through an invitation basis.

XM offers, both demo and real clients access to multilingual personal account managers, via phone, email or live chat, 24/5. The company also provides access to educational material, webinars, video tutorials, and financial news by their experts.

 

About Jacques Dippenaar

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