XM.COM (formerly the Trading Point) is a reputable broker licensed and regulated by Cyprus Securities and Exchange Commission. This broker is also authorized by FSA (Financial Services Authority) of UK. The forex traders can download the actual license and all legal documents from their website. Besides, the broker shows a full EU-authorization, including Germany, Spain, Netherlands, Sweden and Finland.
We all know there are many brokers registered and operated under a license from Cyprus. However, not many can produce an evidence of the full authorization from UK and other EU countries. We certainly have to give them the credit for knowing the forex world. Authorized and regulated business makes them attractive and risk free for the forex traders of every level.
XM.COM offers excellent trading conditions. First of all, they guarantee 100% execution of the trading orders, moreover 99.35% in less than 1 second. Their multiple trading platforms support market, limit, stop and trailing stop orders. There is also a possibility of telephone trading and speaking directly to the dealers. You can trade up to 2 million with a simple click, they guarantee fills on market orders up to 20 lots (2 million).
Your position remains open until the closing trade is executed moreover, your account balance is updated real-time according to the existing market prices. In case market gaps occur XM executes all pending limit or stop orders at the first available market price for the corresponding position size (see gap trading here).
XM serves you best even during volatile market conditions by executing orders at the best available market price. XM operates with variable spreads, just like the interbank forex market. Their arguments are that the fixed spreads are usually higher than variable spreads. Moreover, in case of the fixed spreads, the traders pay the insurance premium. Besides, the fixed spreads may lead to some trading restrictions applied at the time of news announcements. As opposed to that the XM imposes no restrictions on forex trading for the duration of news releases, however, during this time the spreads may change.
This looks like a fair deal, given that this broker focuses and guarantees that speedy, no-re-quote execution. As a matter of fact, their no re-quote policy is a key advantage of trading on the platform( see: Requote). Just like other prominent brokers XM offers fractional pips allowing tighter spreads and the precise quoting.
Finally, the broker guarantees flexible leverage between 1:1 – 1:888, negative balance protection, real-time risk exposure monitoring, and absolutely, no changes in margin overnight or at the weekends.
There is no doubt that the above features look impressive and there is a good chance that many forex traders open the demo or live account with this broker.
Spreads at XM are as low as 1 pip and are averaged on 1.9 pips on EUR/USD with spreads set to variable by default similar to the interbank market.
Below are three types of MT4 accounts offered by XM
Trading Platforms: MetaTrader4, Webtrader, Android, Blackberry, Ipad, Iphone, MAM
Established : 2009
Regulated : Yes
Accounts : Demo, Live
Bonus : 30%
Demo Account : Yes
Min. initial Deposit : $5
Payment Options : Credit Card, Neteller, Moneybookers Skrill, Liberty Reserve, Wire Transfer, Western Union, MoneyGram, China UnionPay
Spread : from 1 pips
Leverage : 1:1 - 1:888
Currency Pairs : 70
Extra Fee : none
Languages : English, Japanese, Greek, Spanish, Arabic, Chinese, Russian, French, German, Polish, Malay, Indonesian
Email : [email protected]