XEMarkets Forex Broker Review

xemarkets

xemarkets

XEMarkets, more commonly known as XM, is a licensed international Forex broker based in Cyprus and established in 2009. XEMarkets specializes in offering a variety of trading instruments, ranging from Forex and precious metals to indices and energies.

With XEMarkets, you don’t have to worry about the security of your trading funds or your personal information. XM is regulated by several regulatory bodies, including the Australian Security and investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and the Markets of Financial Instruments Directive (MiFID).

XM Trading Accounts

XEMarkets offers 3 different trading accounts. They include the micro, standard and executive accounts. The micro trading account is the preferred type of account for traders new to trading Forex or for those  wanting to test out XM’s platform with little risk. A micro account can be opened for as little as $5. Leverage goes as high as 888:1.

The standard account is typically used by traders with experience. There aren’t many differences in the standard account, apart from the number of available contract sizes. The executive account requires a $100,000 initial deposit, and rather than using spreads, the executive account uses a commission based fee structure.

XM Pros & Cons

Much of XM’s worldwide popularity is attributed to the company’s no re-quotes, zero order rejection, and no hidden fees policy. This ensures traders get the exact price execution they intended.

After personally trading with XEMarkets to get a feel for the platform, I was extremely happy with the price quotes I received. After dealing with many brokers who have execution slippage, I can confidently say that XM executes its orders in under 1 second.

Here and some of the pros and cons that come with trading the XEMarkets broker.

Pros

Enables simple one click trading

Allows hedging and scalping

Has an EA integration feature and allows automatic trading

Has a VPS service for superior execution times

Offers DMA, ECN, and STP accounts

Welcomes Islamic traders, offers Islamic accounts

Never any re-quotes

Cons

Does not allow Paypal payments or withdrawals

No EFT instruments

No equities or stock trading

Has a $5 inactivity fee after 3 months of no trading