Our XM.com crypto review Australia was hoping to take our readers through the different cryptocurrencies you could trade on the platform. However, at present, there is no XM.com crypto section to speak.
Despite that, the trading platform still offers an exceptional range of trading instruments such as equity indices, forex, precious metals and much more. So, while there may not be any XM.com cryptocurrency trading to speak of, you will still be able to access a broker that gives you some of the best charting tools and technical analysis around!
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One of the main strengths of the XM.com trading platform is how easy it is to use. The website itself is laid out in a very clear and concise way that makes locating the different areas of the site very simple. The site is intuitive and the trading platform is efficient. Not only that but the platform is also there to help users who are new to online trading with their excellent education and research tools.
While there may not be any XM.com crypto Australia available to trade, executing trades for other markets available on the site is fantastic. The MetaTrader 4 & 5 platforms make the users’ life much easier with the easily accessible charting tools and technical analysis features. So, any user disappointment at there being no XM.com crypto Australia to trade will be softened by just how tremendous the trading platform is for trading in other markets.
In terms of the history of the platform, there have been very few occasions where the site has had any problems regarding the execution of trades or simply being able to access your account. The platform is run with exceptional care and efficiency.
Before you can kick off your trading endeavours on the XM.com platform, you will need to set up your account first. You will have the option to create a live account or a demo account (which is a great way to test the platform first). If you decide to open a live account you will need to fill in several different personal details and forms of contact (email and phone number). You will then need to select what trading platform you would like to use (MT 4 or MT 5) and what account type you would like to have. You will also need to provide XM.com with a colour copy of you I.D and your most recent utility bill as supporting documents.
Once you have completed this process you are now ready to start trading! Nobody loves doing admin but in this case, it is absolutely worth it. After that, trading on the XM.com website is seamless as MetaTrader 4 or 5 will do most of the legwork for you. Simply decide what markets you are interested in and start trading. It really is that simple.
|Company||Trading Point Holdings Ltd|
|Headquarter||12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus|
|Year of Founding||2009|
|Available Languages||English, German, French, Italian, Spanish, Portuguese|
|Customer Support||Live Chat, Phone, Email Support|
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There is a recurring on the XM.com website where they clearly try to make any process as simple as possible. Our XM.com review 2023 is pleased to say that this trend continues with making deposits and withdrawals. Users can choose to use a credit/debit card, a bank transfer or any one of the electronic wallets available. Your bank transfer will typically take up to 5 business days to clear but credit/debit cards are instant.
There is a A$5 baseline minimum deposit for most payment methods on the site build it can vary depending on certain methods and the account you signed to. Our XM.com crypto review found that there is no option for users to deposit cryptocurrency into their accounts, unfortunately. Our XM.com review found a well detailed FAQs section that reveals some information on deposits and withdrawals but the fact is you will need to create an account and view the Members Area to get the full list of payment details.
This may be a little off-putting for some potential users but at the very least you know that you can deposit in a host of different currencies and with some standard forms of making deposits. Check out our eToro review to compare what other payment methods a broker can offer.
There are often times where you may run into a little bit of confusion on the XM.com trading platform. We were pleased to find that XM.com caters to their users’ needs in the best ways possible. On the site, you can find a detailed FAQs section that will more often than not answer questions before you ever need to speak to an actual customer support member.
If you feel like you haven’t had your question or issue resolved by using the FAQs then you can always contact XM.com via their email address at email@example.com. They will typically get back to you within the hour but it may at times take a little longer than that depending on how busy they are.
If your issue is more pressing, then we definitely suggest using the platform’s live chat feature. The live chat feature is far and away the best part of the customer service on the site as you can have queries solved much faster. You can even check up on any future availability of XM.com Bitcoin trading through CFDs.
The licensing and security of an online brokerage firm is paramount for maintaining a strong userbase that feels safe when trading on the site. Our XM.com review found that the broker is regulated by a number of different financial associations all across the globe. We did touch on this in a previous section. However, the only financial association Australian residents need to check for in this particular case is the Australian Securities and Investments Commission or ASIC. Not to worry, though, as we have already confirmed that XM.com are fully regulated by ASIC and hold a license number of AFSL 443670. You can even head right to the headquarters if you like which are located in Sydney.
Apart from licensing though, we also need to make sure that users are being well protected on these sites. XM.com needs to protect user data like your account login details, your banking details and other relevant pieces of sensitive data that you don’t want falling into the wrong hands. Thankfully our XM.com review Australia has found that the broker protects user data with the latest 128-bit SSL encryption technology.
After consulting numerous user experience reports, our XM.com review 2023 found that users were offering the broker high praise indeed. For the most part, users seemed to enjoy the fact that the trading fees were so nominal and that the customer support was responsive and patient.
We really couldn’t find any stark contrasts to these favourable user reviews, which is a really good sign. Truthfully, there is not much you can say in the way of negativity about the XM.com trading platform.
At the time of writing our XM.com review, we could not find any crypto options on the site at all. As it is a standard online brokerage firm, you would not have had the option to buy cryptocurrency anyway. However, most online brokerage firms do offer at least some kind of selection of cryptos to be traded as CFDs. Unfortunately, this option is currently unavailable on the platform. So, we can say with utter certainty that you can’t trade any XM.com cryptocurrency on the platform. We have listed all the best crypto trading sites on our crypto trading page for you to check out.
Keep an eye out in the near future for the possible introduction of crypto trading through CFDs on the platform. If however, you are someone looking for a platform that offers cryptos and altcoins then we suggest taking a look at our Plus500 review. As you won’t be finding any XM.com Bitcoin here.
The fees over at XM.com vary slightly depending on what account you have decided to open on their platform. There are three different account options for Australian residents to choose from, each with varying positives and negatives. Although very few negatives we have to say. Anyways, you won’t pay any commission fees on any of the account options. The only varying degree between these accounts regarding fees is the spread. The Micro account and the Standard account have spreads as low as 1 pip where the XM Ultra low account has spreads as low as 0.6 pips. The only other fee to contend with is a A$5 account inactivity fee should you feel to make a trade within a 1 month period.
Aside from the difference in spreads between these accounts, Australian residents will be very pleased to know that there are no commission fees charged on their trades. On the whole, the fees incurred on the XM.com trading platform are nominal and shouldn’t be too draining on casual day traders. Check out our IG review to compare the fees from another broker.
An important question we always look to answer here at TradersBest.com is where does XM.com have its legal jurisdictions? Answering a question like this can help us to better understand the legitimacy of the broker from another angle.
The XM Group is made up of multiple entities that utilise the XM brand. As such, XM.com holds multiple regulatory statuses in several different jurisdictions. The major jurisdictions include Cyprus where they are regulated by CySEC, the United Kingdom (regulated by the FCA) and of course Australia where they are regulated by ASIC. These are just some of the major countries where XM.com have legal jurisdiction and are fully regulated.
What are some of the limits on the platform itself? Aside from the fact that there are very few limits on what countries can use the platform, you will need to pay a minimum deposit of A$50 to create an XM Ultra Low account. Other than that, there are very few actual limits on the platform.
While the XM.com platform may not be a haven for cryptocurrency trading fans, it still provides an exceptional range of other trading markets to take advantage of. After a deep dive into their site, our XM.com review found that there are currently 7 different trading markets for users to sink their teeth into. These trading markets include equity indices, commodities, forex trading, stock CFDs, precious metals, shares and energies. This is a pretty healthy selection of different markets for users to choose from. So, in the absence of any kind of XM.com crypto trading, you can still find several exciting avenues for trading on the platform.
Users will have one of the best trading platforms to use at their disposal in MetaTrader 4 & 5. Both iterations of the platform have over 1000 trading instruments with tons of technical analysis and charting tools to go with it. After some more digging our XM.com review 2023 found the leveraging to be very flexible with both MetaTrader options. Each option provides the user with EA (expert advisor) functionality should they choose to make use of the feature.
So, while you may not be able to trade crypto on XM.com, the platform still provides you with excellent trading platforms in Metatrader 4 & 5 and a plethora of different trading instruments to choose from. Check out the latest cryptocurrency brokers to see if they also offer diversity in their trading instruments.
It is certainly a bit disappointing that you can’t trade crypto on XM.com. However, after a thorough review, our team at TradersBest.com feels that the extensive range of trading instruments and the exceptional quality of the trading platform itself is more than enough to offset the omission of any XM.com crypto trading capabilities.
On the other hand, it is completely understandable if you are after a trading platform that at least offers some diversity with regards to crypto capabilities which is why we recommend checking out our FXOpen review and FP Markets review.
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