We’ve conducted a lot of reviews of different brokers who deal in Forex trading and one thing we’ve come to realize is that a lot of them seem to be very stagnate. What does this mean? It means that they aren’t willing to do whatever it takes in order to change with the market. This is what keeps clients invested in them. In our XM review we wanted to see just what this broker is willing to do in order to show current clients and existing clients that they value them. We found several things. One of the main things we liked what the fact that XM doesn’t limit the potential money making abilities of their clients.
Here’s some of the basics about XM we feel is most important to know.
* Company is well regulated, which means you can trust that they are ethical. The regulating bodies would included CySEC, FSP and ASIC etc..
* XM offers plenty of trading platforms that work well for traders with different needs. You have the Metatrader 4, which is one of the most well known out there. You have the XM Web Trader, which enables people to make trades through the internet without having to download anything. You have the XM Mobile Trader, which works well for people who have to be on the move a lot and lastly you have the XM MAM Trader, which is made for professional traders who use more than a single account.
* There are three account types. You can have either a Micro Trading account, which offers low risk. You can have a standard account, which is made for traders with a little more experience or you can have an Executive Trading account. This is for traders who like to take really big risks in order to get some really big gains. Additional accounts would include, Islamic Accounts, Managed Accounts, Demo Accounts
* In our XM review we found that they don’t charge commissions. What they do is charge a fee based on the spread of trades that you conduct through them.
* Customer support is good and you can find it in many languages. You can contact them 24/5 by means of live chat or email.
* Trading efficiency is good with about 99.35% of all trades being conducted in little less than a second. There are no re-quotes and every order is executed.
* XM offers different ways to deposit and several ways to withdraw. You can use any number of credit cards, Moneybookers, MoneyGram, Neteller,. WebMoney, Western Union or many a Wire Transfer.
One of the main things we liked when we did our XM review was that the company rebranded itself. Now at first this might come off as being a red flag right? If a company had a good reputation before that it took a while to build, then why would it want to change it’s name? Wouldn’t it be better to keep the old name so people knew who you were? The reality is that the rebranding shows more on the positive side. Understand that the market is always evolving.
Companies who deal in this space must be willing to do whatever it takes in order to evolve with the market. This is what’s going to determine how successful they are long term. XM is a broker we can tell is very serious and responsive when it comes to the needs of their clients, and this is valued highly. All in all we feel like this broker is just right for traders who are either just getting started or those that are a little more seasoned.