What is XM? Evaluate detailed information about XM Exchange?

In the volatile world of financial investment, XM has quickly become a familiar name to traders. With "winged" compliments about attractive profits and modern features, XM has attracted a large number of users to participate. But is this exchange really trustworthy? Please join TraderForex to learn more about XM to evaluate whether this is a suitable trading platform or not.

What is XM? 

XM is one of the leading names in the forex trading industry, with over a decade of experience and 10+ million customers globally. Founded in 2009 in Cyprus, XM continuously expands and strengthens its position in the international financial market. With a team of experienced experts and multilingual support, XM is committed to providing customers with the best trading experience.

Is XM reputable?

Is XM reputable? This is a question many investors are interested in when learning about this platform. To get the most detailed answer, please review the information below with TraderForex:

Operating license

XM is a brand owned by Trading Point Holdings Ltd (an international financial group headquartered in many countries). XM subsidiaries are licensed and supervised by the world's leading financial regulators such as:

• FCA (UK)
• CySEC (Cyprus)
• ASIC (Australia)
• IFSC (Belize)
• FSCA (South Africa)
• FSC (Belize)

Thanks to that, XM ensures strict compliance with financial regulations, maximizes the protection of investors' interests and implements a clear mechanism for separating customer assets.

Achievements achieved

For many years, XM has been continuously honored by prestigious financial organizations around the world with a series of prestigious awards such as: 

• Best CFD Provider.
• Best Crypto CFDs.
• Best customer support,...

These awards not only recognize XM's tireless efforts but are also a clear testament to the trust that millions of customers have placed in this trading platform.

Trading products provided by XM

XM offers a wide range of investment products to help traders easily diversify their investment portfolios. Allocating capital to many different types of assets helps minimize risk and avoid "putting all your eggs in one basket". Products traded at XM include:

• 50+ different currency pairs.
• 8 types of agricultural products.
• 5 energy trading codes.
• The two prominent precious metals are gold and silver.
• 1,180+ stock codes.
• 100+ types of stocks.
• 14 cash indices.
• 10 future indicators.
• 5 dividend metrics.
• 31+ digital currencies.

One thing to note is that trading stocks at XM requires a separate account. This may cause inconvenience to some investors and may result in unexpected costs.

Types of XM accounts

XM has many account types to meet the needs of investors at all levels, helping them test and build effective trading strategies. Trading accounts are divided into two types: Demo and real accounts.

• Demo Account: Allows you to experience trading without worrying about financial risks. Demo accounts use virtual money, helping investors become familiar with the potential Forex market and trading strategies before officially participating. 
• Real account: Includes 4 main account types such as Micro, Standard, Ultra Low, Share
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XM trading platforms supported 

XM offers a limitless trading experience with its separate MT4, MT5 and mobile app platforms. Whether you're working on your desktop, laptop or mobile phone, XM is with you anytime, anywhere.

MT4

The MT4 (MetaTrader 4) platform is one of the most popular and popular trading tools in the financial market. Designed to serve the needs of both new and professional investors, MT4 offers powerful features:

• More than 1,000 products.
• Automated trading via Expert Advisor (EA).
• 50 indicators and charting tools.
• Competitive spreads from only 0.6 pips.
• 1-touch trading.
• 3 chart types. 
• Place an order in the opposite direction. 
• VPS function,...

MT5

The MT5 (MetaTrader 5) platform is an upgraded version of MT4, providing superior features and more diverse trading capabilities. Designed for professional investors, MT5 not only supports Forex trading but also expands to many other financial products.

• Outstanding features of MT5:
• 1,000+ trading products.
• Spreads start from just 0.6 pips.
• 1-touch trading.
• Place an order in the opposite direction.
• MQL5 language available.
• 80+ technical tools.
• 40 analyzed objects.
• Display 100+ charts simultaneously.
• Provide latest quotes to support transactions.
• The Expert Advisors (EA) feature automates trading strategies.
• Supports all order types such as market, pending, stop and trailing stop.

XM App

With the XM app, trading becomes simpler and more convenient than ever. With just a smartphone, you can access the global financial market with countless investment opportunities. The XM application provides an intuitive, user-friendly interface, allowing users to trade a variety of financial products such as Forex, cryptocurrency CFDs, commodities, stocks...

Highlights of the XM app:

• Instant transactions: Trading orders are matched immediately, without worrying about requotes, helping investors quickly grasp market opportunities.
• Flexible account management: Change account information, deposit/withdraw money easily right on the app, saving time and effort.
• Professional charts: Diverse chart types with more than 90 technical indicators, helping users analyze the market deeply and make accurate trading decisions.
• Updated market information: Market news and analysis are continuously updated, helping traders grasp trends and make wise investment decisions.

XM Trading Point

Another way to enjoy XM's trading services is through the exclusive mobile application XM Trading Point. This application, available on both iOS and Android, allows users to open accounts and trade directly on their phones or tablets. With XM Trading Point, trading becomes simpler and more flexible than ever.

XM deposit and withdrawal methods

XM platform supports 9 deposit methods, notably Ngan Luong and Local Bank.  When using Ngan Luong or Local Bank, you almost do not have to pay any fees, or only a very small difference fee, less than 0.5%. Both are popular online payment methods in Vietnam, helping investors deposit money quickly and conveniently.

To ensure compliance with anti-money laundering (AML) regulations, XM requires customers to deposit and withdraw money via the same method. This means that if you deposit money into your trading account using Ngan Luong, you can only withdraw money to that Ngan Luong account.  

XM customer care policy

With more than 5 million customers globally, XM has established a professional support system, providing services in more than 30 languages, including Vietnamese. Below are three contact forms to receive support from XM:

• Email Support: The customer support team is available Monday through Friday, excluding holidays. Customers will receive a response within 24 hours. If contacted on Saturday or Sunday, expect a response in the next 1-2 days. Contact email: vietnamese.support@xm.com
• Phone support: The phone support team is also available Monday through Friday, excluding holidays. If you can't get through, try calling back in 1-2 days or emailing for support. Phone number: +501 223-6696
• Direct support via Live Chat: This is the fastest and most convenient support method for customers. You can contact directly via the Live Chat channel on the XM website. Contact Live Chat: support@xm.com

Promotional program on XM

In addition to providing excellent service to customers, XM also makes its mark with many attractive promotions, providing opportunities for investors to receive valuable rewards. Below are attractive promotions on XM that investors should not miss:

• $30 Trading Bonus: This is one of XM's oldest promotions, still maintained since the floor operated in Vietnam. For new users, this is a great opportunity to experience real trading without investing any initial capital.
• XM Competitions: XM often organizes trading competitions such as Social Trading that take place every month. Investors using Standard or Ultra Low accounts can participate, show off their skills and compete for attractive prizes.

In addition to the above programs, XM also offers many other incentives such as:

• Deposit bonus: 2-level promotion with 20% and 50% bonus, maximum up to $5000.
• Refer a friend program: Receive a bonus of up to $35 for each friend you refer.
• Free VPS: Provides free virtual servers for traders.
• XM Points Program (XMP): Accumulate points to redeem attractive rewards.

Training program provided by XM

XM is not only a reputable Forex trading floor but also the home of the Vietnamese investor community. With the desire to accompany investors every step of the way, XM has created a Vietnamese language improvement room (a completely free space for studying, exchanging and sharing knowledge).

Classes are designed with a variety of topics, from basic to advanced, suitable for all audiences, from beginners to experienced investors. You will learn from leading experts in the Forex field such as Lu Huu Duy, Nguyen Chi Kiet, Harry Tuan Anh,... Besides, you can also interact and share experiences with the community, learn and develop together.

Classes take place throughout the week, along with many periodic market review sessions and attractive livestreams. In particular, all activities at the Vietnamese language improvement room are completely free.

Instructions for creating an XM account

To open an XM account and start trading, you just need to follow these 7 simple steps:

• Step 1: Visit the XM website to start the registration process.
• Step 2: Click the "Open account" button on the page.
• Step 3: Enter full personal information such as full name, email address, phone number and country of residence.
• Step 4: Choose an account type that suits your trading needs.
• Step 5: Create a secure password for your account.
• Step 6: Review all entered information to ensure it is correct before continuing.
• Step 7: Click the "Submit" button to complete the account opening process. You will then receive a confirmation email from XM.

Overview of XM advantages and disadvantages

After 15 years of operation, XM has quickly become one of the popular choices of Forex investors globally. However, similar to any other trading platform, XM also has its own pros and cons. You should clearly understand these factors to make the right decision when participating in trading.

Advantage:

• Managed by 6 of the world's leading prestigious financial agencies, ensuring transparent operations and compliance with international regulations.
• Offers many attractive promotions such as welcome bonuses, refer-a-friend programs and loyalty programs.
• More than 1,000 trading instruments, including currency pairs, indices, commodities, stocks, etc.
• Rich educational materials, 24/7 professional customer support service in many different languages.
• No commission fees (except for stock accounts), competitive spreads.
• Low initial deposit threshold, supports many different payment methods, quick and convenient withdrawal.

Disadvantages:

• Service not available in some countries and territories.
• The standard account spread is relatively high compared to some other exchanges.
• The average spread of Micro accounts is not clearly announced.
• Stock trading accounts have high deposit fees and do not support leverage.
• The number of tradeable currency pairs is limited compared to some competitors.
• There is no insurance mechanism to compensate non-EU investors in case of risks.

FAQ

Do investors enjoy the negative balance protection mechanism?

All types of trading accounts at XM are protected by anti-negative mechanisms. This means that, even if the market moves unfavorably and your account goes negative, XM will automatically compensate that negative balance.

Which countries cannot trade XM?

Due to regulatory restrictions, XM Global Limited is unable to provide services to customers in the United States, Canada, Israel and Iran.

How long does it take to withdraw money at XM?

Withdrawal from XM takes approximately 2 business days for methods such as bank transfer, credit card or debit card. However, if you use an e-wallet, the time may be faster.

Does XM charge withdrawal fees?

XM supports a variety of payment methods, in which deposits and withdrawals via e-wallets and bank cards are completely free. For bank transfers, you need to pay a transaction fee. But XM will support investors to pay part of the fee for transactions worth 200 USD or more.

Can I withdraw profits from XM?

To withdraw profits from a non-deposit account, you need to have a minimum of 10 micro lots (0.1 standard lot) and make at least 5 trades.

Through the information mentioned above, we hope you will better understand the XM trading platform. XM floor possesses many outstanding advantages but also has some risks, you should consider carefully to make the most accurate trading decision.