When it comes to Forex trading, the XM Group offers various types of accounts to its clients. These accounts include the XM Zero and the XM Standard Account. You must deposit a minimum of $5 to open an account with XM. You can read this article to learn more about these accounts.
XM Group
The XM Group offers one of the highest leverages in the foreign exchange industry, with leverage levels of up to 30:1. This leverage level applies to the European entity. The other XM entities offer leverage levels of up to 888:1. Each XM entity’s leverage depends on the type of account and the regulatory obligations the company follows.
The XM Group’s wide range of services allows clients to trade on over 50 currency pairs. They also offer fractional pip pricing, which results in even tighter spreads and the most accurate quotes. The XM Group is a global broker with varying T&Cs, but ESMA operates all accounts under strict rules. These include maximum leverage of 1:30, Negative Balance Protection, client account segregation rules, and more.
Pepperstone
Pepperstone has a reputation for offering ultra-tight spreads. In addition, their customer support team is multilingual and responds to email queries within 24 hours. XM offers multilingual support, but the service isn’t as good as Pepperstone’s. However, it does offer more flexible trading conditions. It also offers commission fees that are low compared to Pepperstone.
Unlike other brokers, Pepperstone offers a more extensive range of Forex pairs. This includes more than 70 currency pairs. In addition, it has a broader range of share CFDs and more than a thousand US stocks. In addition to these, it offers 17 commodities.
XM Zero
XM offers three types of trading accounts. The Micro, Standard, and Ultra-Low accounts all carry the same commission. On the other hand, the Zero account comes with a fixed commission of $3.5 per lot per trade. The minimum deposit amount is $5. XM Zero spreads start at 0.0 pips.
The company’s excellent customer service and offers a live chat service to help traders learn about the market. The company also provides a wide variety of educational materials for its customers. These materials cover everything from basic trading strategies to live analysis of various markets.
XM Standard Account
One of the most attractive features of an XM Standard Account is the ability to trade with fractional pip pricing. This feature allows clients to benefit from even the slightest movement in an asset. In addition, the brokerage does not impose any restrictions on trading during significant news releases. The company also offers the best prices from liquidity providers.
As a market maker, XM Group offers traders over 1300 instruments, including 57 currencies. It offers trading on MetaTrader 4 and 5 platforms, a low minimum deposit of 5 USD, and a wide range of account types. Furthermore, it boasts a good customer service team and is well-regulated by CySEC and ASIC. It also offers a free demo account that allows you to practice your skills on the platform with 100,000 USD of virtual funds.
XM Group accounts
The XM Group offers variable and fixed spread trading options for their clients. Fixed spreads are usually higher than variable spreads, but they are flexible enough to accommodate different trading strategies. Spreads include all costs related to trading, including commissions and non-trading costs. In addition, there are no hidden fees or charges. However, the XM brokerage may charge you a withdrawal fee.
XM Group offers various payment methods, including Visa (Credit, Debit) and MasterCard. It also supports UnionPay and Skrill. Withdrawals are usually processed within 24 hours. However, in some cases, they can take two to five days.
XM’s fees
XM has a commission-free Forex account with spreads as low as 0.6 pips. This is comparable to the typical 0.8 pips on other platforms. The only exceptions to this policy are the USD/JPY and EUR/USD currency pairs, which carry higher markups.
While other brokerages charge much lower fees for their services, XM’s fees are still too high. While XM offers a meager minimum trading capital, it also has high leverage. For example, it offers 66:1 leverage on oil and a minimum of 50 pips for most other commodities. Furthermore, it offers CFD trading on 18 indices, although it is missing a few emerging market indices.
XM’s negative balance protection
Negative balance protection is a feature that XM offers all of its clients. It can prevent your account from going negative and protect you from losing money if you make an untimely transaction. Many people don’t realize that they need this feature, but it can help you avoid losing money.
This protection system benefits traders who don’t want to lose all their money at once. XM will automatically attempt to stop open trades for you when you’re in the negative zone, but slippage is possible. If your account goes below zero, negative balance protection will restore your balance to $0 and forgive your debt. This feature is the most critical part of XM’s negative balance protection.
