Published: August 6, 2020 | Updated: September 17, 2020 | Posted by: Moneymax | Sponsored Content
Looking to diversify your investment portfolio? Consider trading currencies in the world’s largest, most liquid financial market: the foreign exchange or forex (FX) market.
While the idea of making money in the FX market sounds intimidating for the novice trader, it can now be done more conveniently online.
Trade forex online in the comfort of your home with the help of a broker like XM Global. Before you participate in the forex market, learn more about this online forex broker and what it can do for you.
Read more: A How-To Guide for Trading Forex in PH
Table of Contents
XM Global Limited is a globally licensed, multi-awarded online broker that makes trading forex and contract for differences (CFD) easy and efficient through its full-featured platforms.
For more than 10 years, XM has been sharing its expertise in global financial markets with over 3.5 million traders from 196 countries, including the Philippines.
As one of the industry-leading brokerage firms, XM enables clients to trade forex and CFDs on a wide variety of instruments—stocks, stock indices, commodities, metals, and energies—using a single trading account.
XM Global Limited is a legitimate broker with a global reputation for reliability and client fund safety.
Authorized to operate and provide brokerage services worldwide, the company is licensed by the following government regulatory bodies:
This means the online forex and CFD broker is fully compliant with strict consumer protection standards and financial requirements by applicable laws and regulations. XM achieves that by maintaining a separate bank account for clients’ funds and having client and operational bank accounts with reputable institutions, among other measures.
Apart from being globally licensed and regulated, XM Global has earned multiple awards recognizing its excellence in forex brokerage, FX technology, customer service, and market research and education.
XM offers an array of features to help new and experienced traders reach their investment goals:
With XM trading platforms, users can trade on these six asset classes:
An XM forex trading account allows you to trade on currencies. You can choose from micro, standard, ultra low micro, and ultra low standard formats.
All account types come with negative balance protection, provide flexible leverage from 1:1 to 888:1, and allow hedging.
First-time forex traders may open a demo account before using a real one to get the feel of online trading in the forex market.
XM demo accounts simulate real-time market conditions, provide full access to multiple trading platforms, and enable trading with virtual funds worth USD 100,000. Using a demo account allows you to see how the execution of orders works on an XM trading platform.
Because demo accounts are free, unlimited, and non-expiring, you can use them to test your trading strategies for as long as you want at your own pace.
Once you’re familiar with the system and confident with your forex trading strategies, you can already start trading with real funds under real market conditions. For that, you need to create a real trading account on XM.
XM Global offers online trading platforms that help clients perform forex market analysis and execute trades.
Their trading platforms work with Windows and Mac computers, as well as Apple and Android devices. They display key indicators, such as the following, that help users make trading decisions:
Choose from two types of XM forex trading software: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The right trading platform to use will depend on your needs as a trader.
Mainly a forex trading platform, the MT4 is the most popular software for retail FX trading because of its easy-to-use features and ability to automate trading. This is the recommended platform if you want to focus on forex trading.
The MT5 is a multi-asset trading platform. Aside from forex, you can also trade individual stocks, equity indices, precious metals, energies, and cryptocurrencies. Trade on the MT5 platform if you want to diversify your investments.
Whether you’re a beginner or a pro in forex trading, you’ll find the XM platform easy and convenient to use, from account opening to the actual trading.
Take these simple steps to begin your journey as an XM forex trader.
A forex trading account gives you access to your preferred platforms and the XM Members Area where you can monitor and manage your account. Creating an account takes only around five minutes.
To access all XM trading account features and benefits, including fund withdrawal, submit the required documents for validating your account.
How to Submit Your Account Validation Documents
XM clients can choose from a broad range of payment options for fund deposit or withdrawal. These payment methods include credit cards, e-wallets, local bank transfer, and wire transfer.
Funds can be deposited in any currency, which will be converted automatically into your account’s base currency.
Available Methods for Depositing Funds
Take note that available methods may vary depending on your country of origin. For Online Bank Transfer, below is the list of local banks available for XM.
Payments made via Online Bank Transfer will be redirected to Dragonpay wherein over-the-counter processes via SM, Cebuana, ECPay, RuralNet Bankks, and Coops are also available.
To request a fund withdrawal, simply click the Withdraw Funds button in the Members Area and enter the amount you wish to receive. Your request will then be processed within 24 hours.
Your money will be sent back on the same day or up to five business days to the payment method you used for making a deposit.
XM Global does not charge any fee for making a deposit or withdrawal, regardless of the payment method used. The company shoulders all transaction fees for its clients, except for deposits less than USD 200 via international bank wire transfer.
At this point, all you have to do is download, install, and log in to the XM trading platform before you start using it.
Everything’s set—now you can start trading using the XM platform.
The potential to earn profit in the forex market is high, and so are the risks. It’s best to start with a demo account, so you can familiarize yourself with how the XM Global trading platform works. Explore the XM Members Area and learn as much as you can, too. Arm yourself with the knowledge and confidence needed to succeed in the forex market.
This article was created in partnership with XM. While we are financially compensated for this collaboration, we ensure to maintain our editorial integrity to provide you with the best recommendations that can help you make smarter financial decisions.
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