LimeFx is considered by many traders to be one of the most reliable forex broker available for those who wish to execute real-time trades. XM Group’s research offerings offer content produced by an in-house group of experts, which includes everyday market recaps, technical and fundamental analysis, etc. Also, there is an economic calendar provided by Investing.com. This economic calendar houses immensely useful market information when it comes to forex trading. PayPal deposits are not presently supported, which can be a problem for a few users, especially when they do not use any other mode of exchange, for depositing or withdrawing money. For this reason, they sometimes back off using the XM MetaTrader 5 platform.
The broker also received a high score in the Deposit and Withdrawal category due to a wide range of deposit & withdrawal options, as well as the absence of deposit & withdrawal fees. We put the customer service to the test for this LimeFx review and found it to be excellent. We received quick responses to a multitude of questions, ranging from basic requests about how to set up an account to complex queries about trading.
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Between 74%-89% of retail investor accounts lose money when trading CFDs. The fees and commission structure review of XM offer in-depth details on how users can make money from different account types. XM brokers have their payment and commissions process developed according to the conventional KYC regulations. For identification, the users have to produce a color copy of their official ID proof, either a valid passport or a valid driver’s license. In addition to this, the users must submit proof of their permanent address by providing a copy of the utility bills for the last three months.
Poor client service and non reccomend
This information will allow you to know if a broker can provide full support when you need it. The stock offering looks especially strong as traders can work with as many as 1261 stock CFDs. The list includes stocks from the U.S., EU, UK, Germany, Netherlands, Spain, Switzerland, France, Greece, Italy, Belgium, https://limefx.vip/ Sweden, Finland, Norway, Portugal, Austria, Brazil, and Canada. The mobile app does not provide all the options offered by the desktop version, but it is sufficient to satisfy the needs of traders who make their decisions on the go. The app is intuitive, so traders should not have problems using it.
Who owns XM forex?
XM is a brand name of Trading Point Holdings Ltd, which owns Trading Point of Financial Instruments Pty Limited (XM Australia), XM Global Limited (XM Global) and Trading Point of Financial Instruments Ltd (XM Cyprus).
Contract sizes as per standard ultra of 1 lot equals 100,000 and micro ultra of 1 lot equals 1,000. Easily set up for demo trading with the longest time limit I ever tried so far. They should put an option to close all trades automatically. So far, that is only one I want them to improved.overall is good. What we advertise is what we give our clients, regardless of the size of their LimeFx.
XM Broker Review
Especially for traders who trade short-term or scalping would be ideal. XM Group Leverage applies to all the EU regulated entities of the group. Leverage depends on the financial instrument traded on its various platforms. More than 60 forex currency pairs and greater than one hundred financial instruments can be actively traded both online as well via phone on 8 advanced trading platforms. It also assures that you will not be losing money while trading on XM, So changes of trading losses are less.
A demo account is an account that allows you to test the broker’s services and your trading skills without risking your money. CFDs are financial instruments that allow traders to bet on securities without owning the underlying securities. The key advantage of CFDs is the access to significant leverage, which is typically not available when trading other instruments. In this light, CFDs are very popular in short-term trading.
Which means there is a suitable solution whatever device or computer is being used. My friend uses ctrader with other broker and for me, it’s much simpler. This is why i’m using tradingview for charts and just place orders from XM platforms. One of the biggest advantages of XM is that it has a highly skilled and professional team of customer support agents.
Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. Crypto is no longer listed as a tradeable category at LimeFx. You can learn more about cryptocurrency trading apps or check out cryptocurrency mining software and cloud mining if you would prefer to go down the mining route. This LimeFx review 2023 notes that you cannot currently trade crypto on the site, but we will quickly update our LimeFx review if the situation changes. We also analysed the security of the site when conducting our LimeFx review. It has invested in the latest SSL technology as part of a strong commitment to guaranteeing transfer security and clients’ privacy.
Where is XM based?
XM provides traders with the market-leading and highly acclaimed MT4 and MT5 trading platforms available for PC, Mac, mobile , web, and multi-terminal. Powerful charting capabilities, including more than 50 different technical indicators and intraday analysis tools, are available through the MT4 & MT5 trading platform. I have no issues when it comes to funding and taking money from my trading accounts. I use Skrill and they are able to process withdrawals within a few hours. Support is available 24 hours a day, and their representatives seem to know what they doing.
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That’s all you need to do to open your live trading account with XM. The only thing left for you to do is to confirm your Email address, log into the member’s area, verify your account and download the platform that you opted in your registration to trade with . Some other brokers have proprietary platforms or web terminals that you can use, but XM keeps it simple. That is to say, you open an account, verify your account, download the software, and trade. For the purposes of the review, we tested the live chat service and email. Our email was answered within a day and the answer was relevant and to the point.
XM CFD trading fees are low and there is no withdrawal and deposit fees. Forex and stock index fees are in line with the industry average. XM clients can enjoy instant execution through XM’s Zero account, which does not have any rejections or requotes. However, when it comes to price, XM still lags behind the leading forex brokers in terms of pricing. However, it lags behind in certain aspects like not being available to US-based clients, not offering a competitive number of tradable symbols, and having pretty high spreads for the Standard account.
All these applications are compatible with iOS and Android platforms. The MT4 and MT5 mobile apps also come in their standard native development package at the Google Play Store and Apple App Store, respectively. There is no proprietary mobile app for XM Group but is expected to reach the market in the coming years.
Introduction to XM
XM is regulated by several authorities globally, including the top-tier ASIC. On the other hand, the company doesn’t disclose financial information and isn’t listed on any exchanges. The private company behind the XM brand is Trading Point Holdings.
- However, some clients can avail customized accounts but those are available only for trading forex and no other financial instruments.
- You can only withdraw your profits from your account balance.
- Apart from this, XM also keeps the funds of its clients in separate bank accounts.
- The maximum leverage offered is a very high 888 to 1, but if E.U.
- The site only requires a minimum deposit of $5 to start trading and offer numerous deposit and withdrawal options that are all secure, safe, and fast.
XM allows scalping as well as trading during time of increased volatility. This cannot be deemed as an acceptable strategy as you create an environment which does not follow the fair rules of trading and makes the strategy in a way risk free and therefore not permitted. It should be also noted that the latter constitutes a violation of our terms and conditions of business.
Yes, XM is a truly great Forex broker with years of experience in the financial markets. With its long experience, XM has managed to become one of the leaders in the market. Being regulated by highly-reputable limefx agencies, XM is known for being a highly secure and safe broker. I’m new to trading with any financial assets, and among multiple brokers, I have tested out, I felt most comfortable with XM.
Which country is XM broker?
XM Global Limited was established in 2017 and is regulated by the Financial Services Commission in Belize (000261/309). Trading Point MENA Limited was established in 2019 and is regulated by Dubai Financial Services Authority (DFSA reference no.
Traders can be sure that however they choose to trade they will be supported. Clients can choose from any of the range and can be accessed using one account. Desktops versions can be installed and run using both Windows https://limefx.name/ and Mac operating systems. And there are XM Group mobile platforms for smartphones and tablets, using Apple or Android operating systems. The Webtrader platform is accessible from any device with a web browser.
Is XM a good forex broker?
Yes definitely. XM is one of the best forex service providers. XM Group has a low minimum deposit, good customer service, an excellent web & mobile trading platform, low fees, great educational tools, and an easy account opening process. So based on these features, we can say that XM is suitable for beginners.