Last Updated on 4 months by DIARYNIGRACIA
The best Stock Screener in Philippines most trader used is XM Global (FSC) because –
The XM broker began operations in 2009 and now serves customers from over 196 countries with a support staff that speaks 30 languages; it is one of the most reputable Regulated Brokers. The main office is based in Cyprus and is controlled by CySEC, but the offices actually address worldwide demands and services via Australia, the United Kingdom, Belize, and Greece. They are also authorized in Dubai and the MENA area.
At XM, there are around 1.5 Million Traders and investors that have chosen broker offers and services, and there are several complex trading solutions that are also suited for novice traders. Yes, we can conclude that XM is a reputable broker with decent trading conditions and a high reputation, as XM strives to provide its customers with one of the finest user experiences in the market.
In general, all account creation, management, depositing/withdrawing, and trading processes are clear, uncomplicated, and transparent, as we shall see in further detail later in this XM review.
Pros and Cons
At XM, an account may be started with as little as $5, regardless of trading experience or net capital. Additionally, XM’s worldwide approach and discovery of new markets, as well as its seminars and research materials, make it possible to start a trading career.
Based on the findings of our experts, XM is regarded as a trusted broker with decent trading conditions appropriate for a variety of traders, including European customers, and outstanding service that makes XM ideal for novices with quality education and one of the lowest total deposit requirements.
The XM Overall Ranking is 9 out of 10 based on our testing and comparison to 500 other brokers; check Our Ranking compared to other well-known and industry-leading brokers below.
XM Alternative Brokers
However, XM does not provide a vast selection of trading instruments to European customers since they are mostly all supplied on a CFD basis, while the selection is wider and more diverse for foreign traders. Also, Spreads are within the average range; nevertheless, certain Brokers may have slightly smaller spreads than average.
See in-depth Alternative Broker Evaluations:
- FXTM – Good for Novices and Reasonable Fees
- Dukascopy – Outstanding for Stock and Futures Trading
- AvaTrade – Excellent Trading Tools and CopyTrading
Global traders are attracted to XM’s highly competitive trading conditions and an extensive array of services, which are centered on the interests of the client. As the firm has grown, so have its accolades; formerly, the company won prizes on occasion; today, it receives them on a regular basis. XM has acquired several prestigious awards for industry accomplishments, such as Best Forex Broker for Europe, Most Trusted Broker, etc., in addition to its excellent performance and reputation within the trading community.
Is XM secure or a fraud?
No, XM is not fraudulent. Since XM is regulated and licensed by numerous top-tier financial regulators, such as the FCA, ASIC, and CySEC, we believe XM to be a trustworthy Forex and CFDs broker. Therefore, trading is safe and low-risk.
Is XM Broker licensed?
XM Collection is a group of authorized online brokers that was founded in 2009 as Trading Point of Financial Instruments Ltd and is governed by the Cyprus Securities and Exchange Commission (CySEC). Trading Point of Financial Instruments was founded in Australia in 2015 and is governed by the Australian Securities and Investments Commission (ASIC) (Also like FP Markets). Read more about why trade with Australian Brokers via the link to the regulatory duties that are met at a sustainable level as we observe through our XM Review.
However, it is important to note that XM Global Limited, which was founded in 2017, is regulated by the Financial Services Commission, enabling it to provide its services worldwide. Despite the fact that IFSC is an offshore license that does not really apply stringent oversight of trading procedures, the XM’s extensive regulation makes it a viable option.
Is XM a reputable screener?
The fundamental purpose of the legislation is to ensure that the trader may engage in transactions with confidence, knowing that client funds are managed in accordance with the toughest regulations, with little danger of fraud or unfair usage. The compliance of XM’s trading environment with regulatory requirements makes it a trustworthy broker.
In addition, client money is held in investment-grade banks and segregated accounts covered by the Investor Compensation Fund, which guarantees the recovery of up to PHP 100,000 in the event that the broker becomes bankrupt (note that the coverage scheme depends on the particular entity). In addition, you will get a Negative Amount of Protection as a trader, so there is no possibility of losing more than your available balance.
Refer to our opinion about XM Reliability:
Our Ranked XM Trust Score is 9 out of 10 due to our exceptional reputation and service throughout the years, as well as our dependable top-tier licenses. International trade is the sole feature accessible through the offshore entity.
Depending on the account type and the organization under which XM complies with regulatory requirements, leverage ranges from 1:1 to 888:1. To determine the leverage level you are permitted to employ, and you must always refer to the terms of your residence since different XM companies use different terms owing to regulatory requirements. Also, note that leverage varies based on the traded financial instrument:
XM provides a maximum leverage of 30:1. This Leverage relates to the EU-regulated firm. Therefore European customers of Trading Point Cyprus may express a maximum leverage of 1:5 for Cryptocurrencies and a maximum leverage of 1:2 for certain items.
The Australian entity of XM and its laws permit up to 500:1 leverage, whereas the international company provides 888:1 leverage.
Choose your leverage and trading entity wisely, which you can read more about in the XM education section; for EU customers, check the image below.
Similar to the interbank forex market, XM uses variable spreads and does not prohibit trading during news announcements. XM’s fixed spreads are wider than variable spreads and more adaptable to various trading methods. This implies that all trading expenses are included in the spread, and the narrowest spreads are offered.
Also, when choosing a broker, it is essential to evaluate not only the spread but also non-trading costs, withdrawal fees, and any other relevant charges. To get a complete picture, compare the following fees based on our research.
- XM Fees are rated as average and modest, with an overall score of 8 out of 10 based on our testing and comparison to more than 500 different brokers. The majority of currency pairings include typical spreads, extra costs such as financing fees, and rollover Deposits and Withdrawal fees.
- XM’s financial transactions are also handled in a customer-centric manner, with several supported payment methods available to traders in all regions. XM launched a local bank transfer option, which is a great bonus for many countries since it lets the account be funded using local banks and currency without incurring any conversion fees.
We assessed XM Funding Methods as Excellent, with an overall score of 10 out of 10. The minimum deposit is among the lowest in the market, and fees are either nonexistent or minuscule. In addition, there is a wide array of approved financing ways, depending on the company you trade with.
XM allows a variety of Deposit Methods, as seen in the screenshot from our account creation below.
- Credit Cards
- Wire transfer and Local Bank Transfer (available in some regions)
- Neteller, Moneybookers, Skrill, Western Union, and other electronic wallets
The XM minimum deposit
XM Minimum Deposit is a mere $5 for a Micro Account or a Standard Account. If you desire to trade with a Zero account, the minimum deposit is similarly competitively priced at $100. However, the amount changes based on the selected payment method and the validation state of the trading account. However, you may read and locate all relevant information in the Members Area.
The same alternatives are available for withdrawals as for deposits, including Bank Wire transfers, e-wallets, and Credit Debit cards. XM imposes no withdrawal fees and charges no costs for deposits or withdrawals. The XM firm has covered all transfer costs, including those for e-wallets, major credit cards, quick account funding, and wire transfers, with no hidden fees or commissions.
Moreover, whereas the majority of brokers still charge for wire withdrawals, XM deposits and withdrawals of more than $200 USD conducted through wire transfer are also exempt from costs.
How can I make a withdrawal from my XM Account?
To withdraw cash from your XM trading account, just follow the instructions below, and feel free to contact customer care with any questions or concerns; we found them to be helpful.
Withdraw funds in stages.
- Enter your login information
- Choose Withdraw Funds from the menu tab
- Enter the amount withdrawn
- Select a withdrawal method
- Complete the electronic request with the required information; and, Confirm and Submit Withdrawal Information
- Check the current withdrawal status through your Dashboard
How long is the XM Withdrawal process?
While the XM Accounting team handles withdrawal requests within 1-3 business days, the amount of time depends on the nation to which the funds are remitted since different restrictions and regulations apply. The average bank inside the EU will need three business days for the funds to be deposited into your account; however, depending on the payment method you select, certain methods or institutions may complete the transaction practically immediately or take longer.
Trading Platforms of XM
Regarding trading software, XM customers have access to the popular and well-developed trading platforms MetaTrader4 and MetaTrader5 in addition to their own platforms.
Platform Ratings XM maintains a strong presence on the two most prominent industry platforms, MT4 and MT5, for traders’ benefit since these platforms are well-known and enable you to download a variety of extensions or have access to in-depth instructions on how to utilize tools. Therefore, platforms getting excellent evaluations owing to their worldwide renown are always advantageous to the offers of brokers.
Compared to over 500 other brokers, XM Platform is graded Excellent with a rating of 10 out of 10. XM provides a selection of industry-standard platforms, including MT4 and MT5, as well as its own platform with exceptional research, superior tools, copy trading, Robot Trading, EAs, and quality execution.
All platforms are combined with a complete site of technical analysis, indicators, and comprehensive tools, as well as stop or trailing orders, and may be accessed directly from a single account and in several versions. So you can access XM trading simply by using a browser and logging into Web Trading. Read below for our suggestion and review of the platform’s pros and cons.
Desktop Trading Platform
Although XM made the software more powerful and adaptable with 16 Trading platforms, which accommodate any device, including online, mobile, and multiple account trading, if you choose the Desktop platform or other versions to trade, you have access to all account features and may complete the trading procedure with ease.
Due to the fact that XM utilizes MT4 or its more recent version, MT5, you are able to utilize its robust capabilities alongside automated trading or trading robots. For those who prefer technological trading, there are EAs with unrestricted access to charts, and for those who prefer manual trading, there are also excellent manual trading tools that will aid your strategy. Overall, therefore, all demands and trading requirements are met, are at a very sustainable level, and may be suitable for various types of traders.
Look and Feel
MetaTrader is renowned for its user-friendly interface, and its charting capabilities are among the most robust in the industry. Consequently, you will share our appreciation for its aesthetics and features.
Trading Platform Mobile
XM MT4 Android and iOS applications, as well as XM MT5 apps, will provide you with access to a trading account with complete account functionality. MT4 and MT5 programs also provide superior charting with three chart types, over thirty technical indicators, and a complete trading history log. So
How can orders be placed using XM?
As MT4 and MT5 also provide one-click trading, the procedure of placing an order is relatively easy. On all platforms, you may select between pending orders and market orders. There are also risk management methods accessible, which you should never neglect if you want to be successful.
Compatible with a Variety of Trading Strategies for Traders Preferring MT4 and MT5 Platform Currency Trading and CFD Trading
- As a result, we believe that XM offers one of the most accommodating propositions in terms of expenses, trading conditions, and prospects. XM’s selection of trading instruments was considerably more limited in the past, but it is now one of the company’s greatest strengths owing to its expansive offering.
In conclusion, XM is a well-regulated broker with many highly regarded licenses that provide fully transparent conditions and is exceptionally customer-friendly. A policy of no re-requotes and no hidden fees or commissions, in addition to negative balance protection, is a great benefit. As a result, XM is well-liked among trading platforms and appropriate for all types of traders, including novices, due to its excellent real-time market execution and overall ease of use.
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