Trading in the financial markets can be an exciting and rewarding endeavor, offering the potential to generate substantial profits. However, it's crucial to approach trading with a well-structured plan and thorough understanding of the market dynamics. XM, a globally recognized forex and CFD broker, provides a comprehensive platform catering to both novice and experienced traders. This guide delves into the intricacies of trading on XM, equipping you with the knowledge and strategies to navigate the financial markets effectively.
Forex trading is not just about making money; it’s about the journey of learning, adapting, and growing in the world’s largest financial market.
Forex is the largest and most liquid financial market in the world. How large?
Well, as many as 7.5 trillion dollars are traded globally every day, offering forex traders the chance to profit from fluctuations in currency prices. However, getting started with a market that has as many complexities as forex can be daunting.
But do not worry. In this comprehensive beginners’ guide, we will demystify the complexities and help you discover how you can embark on your trading journey with clarity and purpose.
From understanding what forex is to unravelling the essentials of initiating your journey, this article aims to equip you with the knowledge and confidence to navigate the forex landscape.
XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and the Belize authority IFSC.
XM has low stock CFD and withdrawal fees. Account opening is user-friendly and fast. You can use many educational tools, such as webinars and a demo account.
On the other hand, XM has a limited product portfolio as it offers mainly CFDs and forex trading and its forex and stock index CFD fees are average.
Broker Chooser gave XM a 4.3/5 rating based on analyzing 600+ criteria and testing via opening a live account.
XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, forex and stock index fees are only average, and there is a fee for inactivity.
XM charges a forex commmission: $3.50 commission per lot per trade on XM Zero accounts. Spread costs come on top of this, e.g. the EUR/USD spread is 0.1.
XM is a legit brokerage. It is regulated by three financial authorities globally through its parent company, including the top-tier ASIC. It is a well-established brand but is not listed on any exchange and does not disclose financial information.
Legal: This website is operated by XM Global Limited with registered address at Suite 101, 63 Eve Street, Belize City, Belize.
XM Global Limited, registered by the Financial Services Commission (FSC) under the Securities Industry Act 2021 (license number 000261/4) and Trading Point of Financial Instruments Limited, authorised and regulated by Cyprus Securities and Exchange Commission (CySEC) (licence number 120/10), are members of Trading Point Group.
Risk Warning: Our services involve a significant risk and can result in the loss of your invested capital. Please read and ensure you fully understand our Risk Disclosure.
Restricted Regions: XM Global Limited does not provide services for the residents of certain countries, such as the United States of America, Canada, Israel and the Islamic Republic of Iran.
XM does not direct its website and services to any individual in any country in which the use of its website and services are prohibited by local laws or regulations. When accessing this website from a country in which its use may or may not be prohibited, it is the user's responsibility to ensure that any use of the website or services adhere to local laws or regulations. XM does not affirm that the information on its website is suitable to all jurisdictions.