Do you want to know the details regarding the XM to finalize your decision whether you should choose XM as your Forex broker or not? If yes, then you have landed at the right place.
XM is one of the leading forex brokers that has a large number of clients around the globe. They are offering great services; especially their education section is doing a tremendous job. So, without any delay, let’s delve into the article to know further details. Let’s start with the pros and cons.
- Minimum investment is low.
- Authorized by multiple regulatory bodies
- An extensive range of currency options
- It is not regulated by FSCA.
- Lack local offices
- Don’t allow demo account
- Leverage is high
Broker Types of XM
XM is operated by utilizing a business model named a market maker. Most customers consider it a good option owing to some positives, such as low entry barriers in the case of new traders. But this model has interest conflict.
Now, let’s shed light on some of the benefits you can get if you go for an XM broker.
The execution speeds are good that they provide to their clients. So, have a look at the following stats that are shared by the XM’s website:
- 99.35% of trades are executed in under one second.
- 99.35% of orders are executed in under one second.
- 100% execution rate of orders without any rejection.
In our opinion, these stats are exceptionally good.
Education regarding Forex Trading
After the recent amendments in their website’s research and education section, arguably, they now have one of the finest forex brokers when it comes to education. You can get all the benefits only if you have an account, so you should consider opening a demo account for trial.
Support System of XM
XM is a highly professional broker with global recognition, they have an impeccable customer support system, just like all other features. You have the opportunity to consult them in various languages.
You can contact them 24/5 by using multiple mediums. If you aren’t getting a response from their FAQ page, then it is better to get in touch with them by using the following ways:
- Live chat
- Social Media
Keep in mind that live chat, email and phone facilities are available Monday to Friday. On the other hand, you can benefit from the social media option from Monday to Sunday.
Deposits and Withdrawals Options
XM makes sure to provide its clients with ample funding options. Here we’ve enlisted all the methods:
- Credit/Debit Card
- Bank Wire Transfer
On the other hand, they provide a wide range of account currencies, for instance, USD, EUD and ZAR. If you are concerned about the minimum deposit, then it is worth mentioning that it depends on the type of account you have chosen.
Well, that’s all about the XM South Africa review. We are optimistic that it has helped you in knowing a lot of things that you were searching for. It is extremely significant to choose a forex trader after comprehensive research to avoid any tribulations in the future. Have you used XM? What are your opinions regarding the services? Kindly let us tell in the comments section below.