XM, one of the two parent companies of Trading Point Holding, is a broker that allows you to make CFD transactions. Providing online service, XM Group includes currency trading platforms such as MT4, MT5, WebTrader.
With XM, you can trade with various assets such as various cryptocurrencies, stocks, commodities. However, the diversity of XM in this sense is low. For example, European users cannot trade stocks. You can trade Forex, CFDs, and cryptocurrencies.
On this platform, CFD transactions are chargeable. However, there are still lower wages compared to other alternatives. Similarly, you pay a low fee for your withdrawal transactions. There are inactivity fees. With regard to the level of wages, CFD and forex transactions are similar.
Opening an account on XM.com is not complicated, you can solve it quickly and practically. In contrast to some of its alternatives, informative education tools are sufficient. If you are new to CFD or forex, you can use educational tools such as webinars and demo accounts.
Is XM Safe?
There are three authorities that regulate the XM Group:
- Cyprus Securities and Exchange Commission (CySEC)
- International Financial Services (IFSC)
Australian Securities and Investments Commission (ASIC)
One of these regulators (ASIC) is among the authorities that provide high trust and CySEC provides average trust. It also offers negative balance protection, which prevents you from losing more than what is on your account. However, the company is not public, does not disclose its financial information, and does not have a bank. So, it can be said that it has an average level of confidence.
Trading fees are low in XM, which receives average or low fees. However, fees vary depending on which account type you belong to. For high margins, you should have a Standard or Micro account. There is no commission for these accounts. A third option is Zero accounts. These include commissions, but XM offers a low spread advantage. It can also be said to be often low for CFD fees and is not much different from its alternatives. Forex fees are average compared to XTB and eToro.
There are also non-trading fees. Withdrawal fees are not always the same. If you withdraw money under $ 200, it will charge you $ 15. Other than that, it doesn’t take withdrawal fees. You do not pay the account fee in XM. But inactivity fees are $ 5 per month and you pay this fee every month until your balance runs out. You will start to pay this fee when you do not take any action for 90 days.