XM is a famous Forex trading exchange globally. There is a large number of traders participating because of the quality service and very easy deposits and withdrawals. Even though it is a widely used trading platform, there are still people who are skeptical and question whether XM scam or reputable. Therefore, in the article below Learn Forex Trading will evaluate XM exchange so you can know the answer.
What is XM exchange? What kind of trading exchange is XM?
XM is a forex exchange founded in 2009 by Trading Point Holdings Ltd. Now entering its 14th year of operation, XM has been a reputable and strong investment company. Currently, XM owns more than 3.5 million customers.
XM exchange also has a huge number of experts, expected to be up to 450 people. The exchange also cooperates with the European Union to ensure transparent transactions and prevent money laundering.
Up to now, the XM exchange has received many extremely impressive numbers such as:
- There are more than 2.5 million traders from 196 countries.
- The daily trading volume on the exchange is about 15 billion USD.
- 1.4 billion transactions have been performed and none of them have been rejected or requoted.
- There are partnerships with approximately 120 cities around the world.
- XM’s official website has more than 5 million visits each month.
- There are up to 16 trading platforms and 25 payment methods.
- There are more than 450 support experts.
At XM, everything is always transparent and clear. All transaction costs and order matching rates or incentives are officially published on the website. In addition, you can also compare Exness and XM to know if XM is reputable.
See more: Instructions for registering an XM account
Is the XM exchange licensed to operate legally?
To know if XM scam or reputable, you definitely cannot ignore the business license. Currently, according to information from XM, this exchange is licensed by the following agencies:
- XM Global Limited is licensed and regulated by the International Financial Services Commission (IFSC) (license number 000261/158).
- Trading Point of Financial Instruments Limited is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) (license number: 120/10). This is also a member of Trading Point Group.
These are all types of licenses that are highly appreciated by the foreign exchange market. Because these are reputable names, investors also feel more secure.
What achievements has XM achieved?
As shared, XM has been in operation for the 14th year and the exchange has also achieved achievements to affirm its name. Specifically, those achievements are:
- In 2015, XM was honored as the best Forex trading platform in the market at the 5th China Financial Investment Fair.
- In 2016, it was rated the best broker of the year by World Finance magazine.
- 2019 was the most successful year. The awards that XM received in 2019 are: the exchange has the best FX Broker in Europe. Asia’s most trusted broker. Broker of the Year Award voted and evaluated by the world’s leading magazines.
- In 2020, CFI.Co awarded XM the prestigious title of Most Transparent Broker Globally. Global Forex Awards awards the title of global forex broker.
XM scam or reputable?
XM exchange has business licenses from many agencies. Besides, XM also achieved many prestigious achievements. Those things are enough to answer the question of whether XM scam or reputable. Those things are enough to confirm that XM is not a scam exchange.
When trading here, you will not incur commission fees. Your money will be kept for investment in a separate account. The exchange also has an insurance program for traders in case of default. Furthermore, you will be protected by XM for negative balances, which is why you are rarely exposed to too many risks when investing. Therefore, please rest assured and choose the XM trading exchange to carry out your investment plan.
Trading platforms on the XM exchange
Coming to XM, you will be provided with two main trading platforms, MT4 and MT5, along with countless other options such as Webtrader, suitable for computers, Mac OS, Android, Android Tablet, iPhone, and iPad. XM scam or reputable? If it was a scam, would they provide so many trading platforms? Please rest assured to trade. Let’s Self-Teach Forex to learn about the trading platforms on XM.
MT4 software
MT4, also known in full as MetaTrader 4, is the most popular software because every forex trading exchange uses it. The software has an extremely friendly interface, is easy to use, and supports the ability to trade automatically via robots or by traders writing their orders.
MT4 software is a top choice when you think about forex trading. Especially on the XM trading exchange.
MT5 software
Upgraded from MT4 software, MT5 gives traders the ability to trade many product classes, from contracts for difference (CFDs), and forex (currency trading) to precious metals and stock indices. , stocks, commodities…
All features on MT5 have been optimized. This includes the flexibility of automatLearn Forex Trading, trading on stocks, and other specialized markets.
In addition to 4 orders such as: buy limit, buy stop, sell limit, and sell stop, this software also adds 2 other orders: buy stop limit and sell stop limit. Helps traders increase their chances of winning when trading.
When using MT5, you can also perform trading robot programming features. Set up indicators according to each trader’s style.
In particular, if you want to trade stock CFDs, you need MT5 software. Because this product can only be traded with MT5.
MT4 Multiterminal
One more application for investors who want to manage multiple MT4 accounts at the same time is Multiterminal. You only need to log in to your MT4 Multiterminal account once with a single password.
Features of MT4 Multiterminal are as follows:
- Supports many different command types.
- There are three main allocation methods.
- Support for 128 trading accounts.
- Real-time management and execution.
See more: Registering XM broker account on the phone
Trading products tell you whether XM scam or a reputable
The number of products that XM offers is very diverse. Traders can freely choose the most suitable product to make investment choices:
- Stocks: directly trade more than 100 stock codes from the US, UK, and Germany. Done on a shared account.
- Stock CFDs: there are a total of 1184 stock codes.
- Forex: includes 57 different currency pairs, leverages up to 888:1, and has 24/5 weekly customer support.
- Commodities: there are 8 types of goods such as cocoa, wheat, coffee, sugar, corn,…
- There are 30 stock indexes.
- 4 metal products include gold, silver, platinum, and Palladium.
- 4 energy products such as London Gas Oil, WTI Oil, Brent oil, and NGAS.
When you trade stocks and securities at XM, you will still receive dividends as usual. Return time is specified in the product information section. However, you do not have the right to veto because this is a form of CFD trading. But in return, you will receive a percentage of dividends.
Epilogue
With impressive numbers and a series of strengths of XM exchange, surely no one doubts that XM scam or reputable anymore. XM is a very good forex exchange, always trying to improve to bring customers the best experience. Hopefully, through the Learn Forex Trading article, you will be able to make the most accurate and smart choice for yourself.
