Overview of known participants of the world financial market: XM

The growing popularity of Internet trading on the world financial markets has led to the creation and rapid development of numerous companies that provide their clients with the opportunity to earn money on transactions with trading instruments online. The increase in the number of trading platforms contributed to the creation of a competitive environment in financial markets and encouraged brokers to compete for potential customers, improving the quality of services provided and offering users additional trading tools for conclusion of prospective transactions.

But there are also negative consequences of the development of the global financial market: in parallel with the new brokers, sites were created that helped scammers deceive trustful traders. In order not to become a victim of pseudobrokers, it is necessary, before registering an account on the trading platform, to carefully study all available information about the company and its web resource. Using the example of a survey of the activities of a popular XM broker, you can compile a list of key indicators, a detailed analysis of which will help novice traders determine whether to open an account on the platform that interests them.

Analysis of the general parameters and capabilities of the XM broker

The broker was created in 2009 (managing company Trading Point Holdings Ltd) and in the same year a web resource is launched that provides its clients with trading tools and access to the world market for financial transactions. The main office of the company is in Cyprus, there are official offices in New Zealand, Australia, Hungary and Greece. During the incomplete 10 years of the broker’s activity, the number of its clients exceeded 1 million people, from 196 countries.

Awards and Prizes

Developed for XM application, high-quality and convenient platforms (XM WebTrader, MT4 and MT5), the ability to work in 22 languages, as well as a large selection of financial instruments help attract new users. But one of the main factors contributing to the formation of a positive reputation of the broker is the numerous awards and prizes received for the professionalism and high quality of the services provided:

● The best service in the Forex market.

● Better support for the trader.

● The fastest growing broker in Asia.

● The best technologies in the financial market, etc.

Activity control

The presence of controlling bodies and licenses (confirming the legality of the broker’s activity) testify to the reliability of the company and its ability to fulfill its obligations, regardless of the influence of unfavorable external factors. The broker presented has a solid package of documents issued by authoritative organizations to confirm the legitimacy of their activities. These include:

● Cyprus Securities and Exchange Commission.

● Financial Services Authority FCA (FSA, UK).

● Securities and Exchange Commission ASIC (Australia).

 The presented company is officially registered broker of the EU, which is almost an unreal dream for many participants of the world financial market.

Training

The user who registered on the XM web site login, in the absence of the necessary experience in the financial markets, can use the training materials prepared by the site developers for such cases. These include: video lessons, webinars and seminars on trading, economic news, analytical articles with comments, etc.

The demo account provided on the XM platform allows novice traders to obtain the necessary work experience without risking their savings (the client concludes transactions by financing these operations from his virtual wallet).

Using the XM Web Resource: Overview of Key Parameters

The web resource of the broker presented provides a high speed of accomplishment of the assigned tasks, and modern means of protecting information and user accounts make it possible not to worry about the safety of the financial means and personal data of the client. In the event of any failures in the operation of the resource or other force majeure situations, the user can contact the support staff who works 5 days a week, 24 hours a day, using telephone, online chat or e-mail for this purpose.

Opening of a trading account

To carry out real trading operations, a trader must open an account for storing / using his own financial resources. Almost every review prepared by XM (even if the author is well aware of this topic) contains only general information on the opening / use of accounts. Most likely, this is due to the fact that any detailed analysis, in this case, requires subjective conclusions, which are absolutely unacceptable for independent review.

Traders are given the opportunity to work on the site, using:

● Micro account. Gains access to the minimum lots, almost without risking their money.

● STANDARD. The most popular account among experienced traders who know the basic nuances of this type of activity.

● XM Zero. Designed for traders who can invest a decent amount. There are a number of differences from the above accounts: for example, with a total turnover, the trader pays a commission of $ 3.5 to $ 5 for every $ 100,000.

The minimum deposit for trading on the submitted resource is $ 5, the smallest amount of the transaction is 0.01 lot. The currencies of trading accounts are: American, Singapore and Australian dollar, Russian ruble, South African rand, euro, Polish zloty, Japanese yen, Hungarian forint, British pound and Swiss franc.

Replenishment of the trading account and withdrawal of money

For input / output of financial assets you can use:

● bank transfer;

● bank cards (Visa, Visa Electron or MasterCard);

● Yandex money;

● WebMoney;

● Neteller;

● Skrill.

Financial instruments

Virtually every review (based on an objective characteristic of the resource) is based on a large selection of a variety of financial instruments for making trade transactions:

● 55 currency pairs;

● CFD on indices, raw materials and other assets;

● precious metals;

● crypto-currencies;

● shares.

Based on the above information, we can conclude that this company and its web resource are of interest, both for beginners and for advanced users. A decent “age”, well-known organizations that control the activities of the trading platform, as well as positive feedback from numerous users and a wide range of financial instruments for making deals, are convincing proof of the reliability of the service.