XM platform is a globally renowned foreign exchange broker established in 2009, with 2.5 million customers in 196 countries worldwide so far.
XM is a global forex and contract for difference broker regulated by ASIC in Australia, CySEC in Cyprus, and FSC in Belize. XM has an impressive record of zero rejections or re quotes.
XM's latest tracking community service
Do you feel at a loss when facing a dazzling array of stocks and other investment tools? If you are unable to decide what to invest in or worried about making the wrong decision, it is a good idea to seek advice from more experienced or successful traders. The simplest method is to engage in social transactions or copy transactions.
The XM platform provides community trading, allowing clients to replicate the investment portfolios of experienced traders. And through social trading, customers can learn about the trading situation of other traders and how their investment portfolios are performing.
Before copying others, please ensure that their trading goals align with yours. Pay attention to potential costs and risks, such as excessive leverage.
Is XM the best choice for community trading? Just take a look at our introduction to the best community trading platform for 2024.
Copying trades is easy and often tempting for inexperienced investors. However, if you want to avoid disappointment, there are a few things to pay attention to.
If you are interested in replicating transactions, it is best to choose a broker with a sufficiently large trading community.
Many community trading platforms are dominated by traders of leveraged products such as forex or contract for difference, and there is a huge risk of rapid losses on these platforms. Please pay attention to the level of leverage used and set your risk exposure accordingly.
Pay attention to transaction costs - Every time you imitate a trader buying or selling an asset, you need to pay transaction costs. Sometimes, using the copy transaction function requires separate payment.
How is the XM foreign exchange platform?
The history of XM can be traced back to its establishment in 2009. Now, it has become a leader in the industry and a mature investment company, with over 300 professionals, each with years of experience in the financial industry.
XM has extensive experience and provides support for over 30 languages. This helps brokers attract people from all over the world and of any skill level, while its goal is to execute 99.35% of transaction orders within one second without re quoting or refusing to execute.
Regulatory and Security
For any top foreign exchange broker, a safe and reliable trading environment is one of the most important key factors. Their authorization and regulatory status are as follows:
Authorization and regulation by the Cyprus Securities and Exchange Commission (Cysec license number: 120/10)
Belize International Financial Services Commission (IFSC) Authorization and Regulation (60/354/TS/19)
Authorization and Regulation by the Financial Conduct Authority (FCA: 705428)
Australian Securities and Investment Commission Authorization and Regulation (ASIC: 443670)
Dubai Financial Services Authority (DFSA) Authorization and Regulation (Reference: F003484)
One of the requirements of CySEC is that brokers must regularly submit financial statements to ensure that the company has sufficient capital to operate. Regulatory authorities also require XM to isolate customer funds in independent bank accounts of top financial institutions. Customer funds are also protected through various investor compensation programs, such as CySEC's investor compensation program. These plans provide compensation to account holders in the event of financial bankruptcy or inability to compensate customer account balances of brokerage firms.
XM also provides negative balance protection globally, ensuring that your losses never exceed the deposits in your account, and always using a separate bank account to further protect your funds from any unexpected financial conditions. The funds of EU traders are also covered by ICF (Investor Compensation Fund) insurance.
It is worth mentioning that the broker has won dozens of awards across the industry on the road to becoming a well-known brand. This level of brand and industry recognition will only further enhance their reputation as a highly trusted broker.
summary
XM is a global forex broker that provides clients with over 1000 tools across 7 asset classes. XM has high liquidity and there is no situation of re quoting or rejecting orders.
There are four types of accounts to choose from, and you can open a real account for only $5.
According to your location, XM also offers some good registration bonuses, including a $30 deposit free bonus and another 100% bonus, up to $5000.
XM has a long-term record and good regulatory reputation in Australia, the UK, Belize, and Cyprus, and enjoys a high reputation in the industry as a regulated foreign exchange platform, so you can confidently choose this foreign exchange platform for trading.
