Among the many benefits offered by XM are a nifty little demo account and the ability to trade using a Virtual Private Server. Using this feature, clients can place a trade at any time, no matter what the market is doing. Moreover, XM clients can take advantage of a loyalty program for clients outside the European Union.
For example, the Micro account is perfect for the smallest trades. It requires only $5 as a minimum deposit. With this account, you can trade on over 1,000 financial instruments and have the option of opening up to 200 positions at a time. This is the most popular type of account for beginners. Similarly, the Zero Accounts allow for spreads as low as 0 pips.
XM offers a variety of other features as well. For example, the firm"s customer service is available 24 hours a day and 7 days a week. In addition to being available to customers in 190 countries, the site is licensed by several reputable regulators, and uses secure Socket Layer (SSL) encryption technology for all transactions. Moreover, XM provides a variety of payment options, including credit and debit cards, wire transfer services, and electronic payment gateways.
While XM is not the only broker to offer such services, its offerings are far better than the competition. Some of the key benefits include a full range of trading tools, a flexible trading platform, and a large number of markets and asset classes. Additionally, the broker"s nil rejection rate is a plus. Aside from the nifty little demo account, XM also provides a comprehensive education section, which includes a variety of webinars on topics such as basic trading strategies.
XM is also a member of the Investor Compensation Fund, which provides up to 20,000 USD in compensation to customers in the event of a broker"s failure. Another XM innovation is the XM Foundation, which is dedicated to aiding those in need. Their mission is to promote equal opportunities, as well as access to vocational and educational training.
Although it isn"t a secret that XM is one of the leading online brokers, they have made a point of making their products and services stand out among their competitors. Their range of offerings is especially impressive for those in the South African market. Moreover, XM has received numerous awards for its quality of service and adherence to industry best practices.
While there are many reasons to choose XM, it is important to note that they do have some limitations. However, they do offer a non-expiring demo account, which will give you a feel for the platform without limiting your usage.