If you have a desire to enter the Forex market, becoming a XM forex certified licensed trader may be an excellent step forward. This is a program offered by XM forex that focuses on educating traders in all stages of the process, regardless of experience. XM has held hundreds of seminars in more than 120 cities worldwide and prides itself on being a client-focused company. The company also encourages face-to-face communication.
As a member of XM, you ll be able to trade in forex from around the world. The platform is available on iOS and Android devices. There s a fingerprint-based login system available. XM is widely respected, with a good complaints process. The software is available in most languages. XM has a wide range of educational options and a wealth of news and market information.
As a member of the XM Forex Certified License Program, you ll have access to the XM Group s educational materials, webinars, and research. You ll have access to more than 1,000 instruments across 7 asset classes, with low spreads and no hidden fees. XM also provides access to up to 200 open positions per client. XM offers four different levels of trading accounts. You can choose to trade at the high-frequency market, micro, or mini account. Each account can hold as many as 200 open positions, with the lowest minimum deposit being $5USD.
XM has low fees that make it an affordable choice for the average forex trader. Fees are incorporated into the spread, which can be as low as 0.00016 pips. In addition, the broker charges a $15 carry fee on withdrawals under $200. Additionally, XM does not charge monthly account fees, though you may be charged a $5 monthly inactivity fee after 90 days of inactivity. This will continue until the balance reaches zero.
While many forex brokers claim to be regulated by the Financial Services Commission, XM has a strong compliance record. Client funds are stored in a segregated account with investment grade banks. Client funds are protected by an Investor Compensation Fund that can help recover up to EUR20,000 if the broker s operations fail. The platform also offers Negative Balance Protection, which means that you can t lose more than the amount of your available balance.
XM also offers live customer support 24 hours a day, a large video tutorial library, and free market research. Moreover, it is a reliable, safe and well-regulated broker with dozens of awards. In addition to offering a safe trading environment, XM has a clear focus on beginner traders. These include easy-to-use trading platforms, accessible deposit limits, and an extensive educational library.
Account types offered by XM are realistic and suitable for different trading strategies. They are also easy to use and offer good value. The retail forex/CFD industry is notorious for having complex account types, but XM has refrained from this and focuses on simplicity and client-centric trading. This means that clients can trade in a way that suits their trading style and financial goals. You can earn a good profit even without any experience in the financial markets.