An impressive organisation putting their money into some big brand exposure activity, sponsoring the worlds fastest man, Usain Bolt. A lot of bonuses and competitions to take part in, making XMone of the highest recommended brokers on our list.Very friendly for new traders with an extensive education / learning section.
I stumbled across XM forex trading by way of a banner advertising a million dollar forex trading competition. After visiting the website, I was impressed by the very modern feel, they look very much like a forex broker targeting the younger generation.
On their website they also proudly display their sponsorship of Usain Bolt which couldnt have been cheap. I always take notice of companies that engage global superstars as brand ambassadors because the truth is, these types of relationships are very much controlled and dictated by the celebrity. A personality like Usain Bolt has a huge reputation to uphold, countless sponsorship offers and is a mega brand in itself so they would have taken great care in only selecting reputatble businesses to promote. Therefore, XM receives a big boost of credibility in my books.
Very straight forward. Enter details, confirm an e-mail, login and I was requested to upload ID documents through their website. All went smoothly. Within 24 hours, I had a call from my account manager who introduced herself and let me know that I can get in touch with her at any time for assistance. Within another 24 hours, my documents were all verified and I was ready to go.
In truth, I signed up so that I could take part in the million dollar trading challenge. Of course I must openan account at many brokers so that I can report here for this website.
The competition details can be found at in short, there are 10 rounds of play, each round lasting a calendar month. You start with $10,000 virtual currency and try to make it into the top 5. There are cash prizes for finishing in the top placings each month and the top 5 places gain entry into the semi finals. The winner of the grand final wins a cool $150,000. Not bad for a free game based on skill as well.
XM have done everything so well to attract what I would call new age traders (people in their 20s, disposable income, looking for a challenging investment) and ensure that the biggest hurdle for any new trader, education, is covered from top to bottom. The market is tough to grasp so a lot of people need some guidance in understanding all those terms, the charts, the patterns, etc. Sure you can have random fun with a $100,000 demo account but at the end of the day, discplined trading follows a strategy and without anything to learn from, it makes it difficult to want to jump in to real money trading.
Traders of any level should feel extremely comfortable working through the extensive education section at XM.
Real-time market execution with no re-quotes and no rejection of orders
16 MT4- and MT5-based platforms for seamless trading operations
The same fair trading conditions for every client
Personal Account Managers in over 30 languages
Daily technical analysis and market reviews in multiple languages
Regular on-site seminars in various countries in the world
This is a rating out of 100 which we calculate for each broker based on a combination of factors, all of which you will find below on the scorecard.
Every broker starts with a base score of 100 and we subtract points according to what criteria they match in each category.
WhilstTrust Scoreprovides a good insight into the brokers reputation, our overall rankings are based off our own thorough reviews plus the user reviews. Therefore, brokers with a highTrust Scorearent always guaranteed to be ranked at the top.
Major sponsorships:The fastest man on the planet,Usain Boltis sponsored by XM. This provides a large credibility boost for this broker as Usain Bolt would only be associating himself with brands that can further enhance his reputation.
Forex brokers who are listed on our website must be regulated with at least one regulatory body.Click herefor a full list.
Advocating safe forex trading across the world
©2019 m – Forex (foreign exchange) trading carries an amount of risk that may not be suitable for all investors. Margin trading can be beneficial but also detrimental. You should consider your level of experience, capital you are willing to risk and trading conditions with each broker prior to trading in the forex market.