XM trading South Africa is another great forex broker that was founded in 2009. It now has 2.5 million clients all over the world. Perhaps it is considered the safest broker for trading as it is regulated with FCA, ASIC, and CySEC.
XM broker provides a diverse range of trading products, including more than 55 currencies and CFDs on equities indexes, precious metals, commodities, and energy. Their customer service is extremely excellent, and they even offer local payment choices for South African traders.
XM trading Accounts:
XM provides three dedicated and accurate accounts and one demo account to get used to the platform and earn imaginary money. All of its funds are useful in their ways, along with some cons depending upon the type of trader.
- XM Micro account: It can be started with a minimal deposit of $5 only. This account allows you to trade in various well-known currencies with significant leverage but has some limitations. The speed is relatively low as 0.1 pip and gives you the trade size restriction on MT5.
- Standard Account: It’s almost similar to the micro account but does not limit the number of your lots to 1000. It significantly increases your trading volume by providing 100000 lots. Also, there is no limitation for MT5 lot size that a great deal. But it keeps the per ticket restriction down at 50. Perhaps also initiate with the minimal deposit of $5 only like the micro account.
- XM Ultra-Low account: It initiates with a minimum deposit of $50. This account reduces the pip to 0.6 and eliminates any trading bonuses you may have received. Unlike the other two types of funds, the minimum deposit has been raised to 730 ZAR. This user account type also brings some variation, with Micro standard and Micro ultra restricting the trading volume and contact size depending on which one you select.
- Demo Account: XM offering a fictional account or practicing trading on the XM platform. It’s a great deal for beginners that are just starting out learning Forex. As they dont want to invest their real money, so it’s nice to start working and get used to the XM platform.
XM Deposits and Withdrawal policies:
Clients may fill their accounts at XM.com using the following payment methods including credit cards, bank transfers, Neteller, UnionPay, and Payoneer. When you establish the account, deposits may be made in any currency and are instantly translated into the currency chosen as your base currency. Client monies are held in Tier 1 segregated Barclays accounts without interruption. Account financing is entirely automated, and same-day withdrawals are squarely secure.
Bonuses for XM Trading
XM provides buyers with a $30 Trading Bonus on each Associate in Nursing account to test items and services, a two-tier incentive on your deposit, and numerous tiers of loyalty programs earning XM Points redeemable for credit bonus benefits.
Bottom lines:
XM is a multi-award-winning broker that provides a wide range of trading products with both revenue and commission-free account types. Their motive is to serve their clients with honesty and openness. In the end, it has received highly positive feedback during its early lifespan.