XM offers several educational programs to help both traders improve their trading skills. They range from live rooms to free webinars hosted by experts.
Trading and investment have undoubtedly undergone a massive transformation in the past several years. Previously, if you want to start investing, you had to find a full-service broker who would offer you some advice and conduct the investment for you. Today, the financial sector has been highly democratized, making it possible for anyone in the world to access various trading services through intuitive platforms as well as mobile trading apps from the comfort of their home.
With that being said, it's only natural that users need to be better educated about risk management and gain a better understanding of online trading. There are many ways to get a trading education, but the easiest way is to learn through forex brokers. Nowadays, many brokers offer excellent educational materials for their clients, whether it's for free or through paid subscriptions. In this article, we're going to be focusing on educational materials provided by XM.
XM is a well-regulated broker that offers various trading and investment services. Apart from that, the broker has a wide range of educational materials suitable for both beginners and advanced traders. Here are all of the educational features that you can enjoy:
Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).
XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.
In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.
Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.
To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.
For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.
XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).
All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.
For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.
1. Education Rooms
To begin with, XM offers educational rooms that go live every day to cover everything you need to know about trading. The rooms are divided into two groups, namely:
- Beginner Room: Includes live webinars, Q&As with experts, trading fundamentals, and trading session analysis.
- Advanced Room: Includes everything in the beginner room with extra content on how to prepare for a trade, follow real-time trading, and live debates.
As you can see, the rooms are divided based on the trader's expertise. Both rooms are completely free of charge and available to all traders. It is certainly a great place to learn the fundamentals of trading directly from expert instructors. You can interact with them and ask them questions. Unfortunately, this feature is only available in English for now.
2. Education Schedule
On this page, you'll see the complete schedule of educational rooms. There are several topics discussed each day, ranging from the latest analysis, weekly outlooks, to expert opinions regarding recent market movements. Therefore, make sure to check the schedule before you participate.
The rooms go live every single day from Monday to Friday, starting as early as 7:00 AM to 3:00 PM server time. You can immediately register yourself and join the session of your choice from this page.
3. Educational Videos
If you want to learn on your own, you can visit the educational videos page. XM provides access to a number of tutorial videos consisting of 8 modules that cover various topics in online trading. This includes intro to the markets, trading essentials, fundamental analysis, technical analysis, money management, trading psychology, trading strategies, and so on.
All of these videos are free to use, so you can immediately watch them and complete the lessons. Just keep in mind that most of the videos are basic trading, so they might not necessarily be suitable for advanced traders.
4. Free Live Forex Webinars
XM also offers live webinars as a part of its comprehensive educational program. The webinars are presented by no less than 25 expert webinar instructors, available for free to all clients around the globe.
You can choose from nine languages, namely English, French, German, Greek, Hungarian, Italian, Polish, Russian, and Spanish. In order to join, just simply open the webinar page and register yourself.
Education as the Key to Successful Trading
Trading is putting your money in the market to make profits and achieve your goals. Some people might compare it to the act of gambling, but the two are actually very different. In online trading, you need to learn before you can earn. Most successful traders agree that one needs to be well-prepared before they enter the market. Reckless trading has a higher chance of failing, so it's important to be educated and prepare for things like trading methods, money management, and trading psychology.
While the concept of trading may sound easy, there are numerous terms and strategies that are hard to be casually picked up without proper education. This is why every trader needs to learn at least the basics of forex trading and educate themselves with different techniques in order to determine what's best for them.
The following are some key benefits that you can get from getting a proper trading education like what XM provides:
- Knowledge: The forex market is a battlefield full of traders with various levels of expertise. Meaning, you will compete with experts as well as big traders. If you want to win, you need to be smarter than them. Joining a trading course will give you an insight into forex trading and trading tools that might lead you to success.
- Risk management: While it is important to make as much profit as possible, it's equally important to protect your initial capital from losses. Learning how the market works can help you manage your risks better and increase your chance of success.
- Trading psychology: Every trader needs to have good control of their emotions, especially fear and greed. Through proper education, you can develop the discipline to stick to your trading method and avoid emotional trading.
- Trading plan: By learning about various different strategies, you'll be able to build your own strategy that works for you. This will help you determine when to enter and exit the market, what instrument to trade, etc.
- Mentoring: Getting in touch with experts is a brilliant way to improve your skills. You can observe how they conduct their trades and get useful advice based on their experience.
The Bottom Line
In order to be well-educated in trading, it's always a great idea to join an educational program to enrich your knowledge and sharpen your skills. At XM, you can get educational materials through various methods depending on your preference. You can join the educational room, live webinar, or simply watch educational videos on your own time.
At the end of the day, remember that trading requires continuous learning. Even expert traders still need to constantly learn and stay updated with the current news. So, if you want to be a successful trader, do not stop learning. The more you learn, the more you can generate considerable profits in the long term.
XM broker is an established international firm and has become a true leader in the trading industry. Founded in 2009, the company works with the main principle of being "fair, trustworthy, and dependable". XM claims to support no re-quotes and real-time execution, where traders can choose from 10 trading platforms suitable to any device.