Online traders have access to XM’s brokering services through the platform. Over 1.5 million XM traders from more than 190 countries have signed up for the platform as of 2021. XM’s business philosophy is based on the principle of ethical client expansion. Trade individualization and first-rate client service are two of the firm’s fundamental tenets. XM provides its customers with a wide range of trading platforms, tools, and services to ensure a profitable transaction. Each client’s unique investing objectives will be taken into account as part of these services.
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Commission and Fee Structure at XM
The XM broker payment and commission system was built on standard KYC practices. Users must provide a color copy with their official ID proof, such as a passport or driver’s license, in order to access the service. The users must also provide a copy of their utility bills from the previous three months as confirmation of their permanent address.
- Deposit
Every new user who registers an account and deposits at least $5 depending on the account type is immediately eligible to start making money. The minimum deposit to activate a Zero user account is $100, while the Micro and Standard account minimums are $5 and $10, respectively.
- Account Commissions
The group’s commissions and fees vary by account type. Also relevant is the organization handling the customer’s finances. The Zero account is more competitive or charges commissions, whereas the Micro and Standard accounts were commission-free but costly.
- Execution
When it comes to the deals it facilitates and executes, XM Group is the only proprietary dealer and primary market maker. It can carry out orders valued up to $50 million in the base currency at a time. When compared to other forex broker groups on the market, its capacity to handle such trades for 200 open positions at once is rather generous.
- Leverage
Users can obtain leverage anywhere from 2:1 up to 30:1 depending on the instrument used. Leverage risk management opportunities are provided, and the range maintains its adaptability. Every single week, the margin needs for these leverages are exactly the same. The group fails to lower its standards after hours or on the weekends. Only clients of an XM company licensed in the EU are eligible for the leverage.
- Withdrawals
Withdrawals are processed promptly by the XM broker, usually within a day. Withdrawing the funds will not cost you anything more. Take the money with you or put it in your XM wallet or another electronic wallet. Users should not requote their withdrawals if they want them to be executed instantly. With XM, you can make deposits and withdrawals without paying any fees or commissions in certain circumstances.
The XM Bonus Program
To help you get started trading with additional capital, XM forex bonus is now offering a two-tier on your deposit, for a total of $10,000 on top of your investment amount.
- Your deposit is credited instantly.
- Applicable with as little as a $5 deposit
- Compatible with MetaTrader 4 and 5 accounts
- Bonus that can’t be cashed out
What Are the Best Ways to Get a Forex Bonus?
Prior to signing up for a no deposit bonus, do review the following terms and conditions:
- Research
Before signing up, it’s important to verify if the service can be trusted. Experienced traders can still be fooled and manipulated in trading. Needs to double-check its list of accreditations from relevant agencies.
- Forms of Exchange
Real money can be deposited into the trading account via the available payment options. Therefore, as per the experts, you should make sure the brokers allow you to pay with the method you prefer.
- History of the Broker
The reviews and how closely they follow the law are crucial to a broker’s credibility. Find a broker who has been vetted and certified by respected organization’s only. The broker’s financial stability and honesty to its clients are guaranteed by an oversight body.
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