Although there may be numerous guides to choose a forex broker, confusions are inevitable because of the huge number of brokers operate internationally. So, what to look for in a forex broker for beginners?
One of the many things novice traders may get confused about is the topic on what kind of broker is best for them. Although there may be numerous guides to choose forex broker, confusions are inevitable because of the huge number of brokers operate internationally. So, what to look for in a forex broker for beginners?
1. Low Initial Deposit
There are some who said that if you want to succeed then start big. If you ever heard of it, just ignore it. It is true that bigger capital can give you higher power in the market, but it is less likely to increase your trading profitability. In fact, if you fail to manage an account with small capital, then you will likely lose an account with bigger capital.
Therefore, it is better for novice traders to start with small capital and choose brokers that allow a small initial deposit. How low? right now, there are even brokers that put no minimal limit for the initial deposit, which means you can start with just a couple of dollars. Still, in order for you to learns money management properly, I would advise a figure around 50-100 USD if you start with a mini account.
2. Demo Trading Account
At first glance, you may think that all forex brokers served demo trading accounts aside from live accounts. But actually, some brokers only made demo account available for a limited time; or else, the demo account only available for one trading platform and not on others. You should know that although practice trading with Metatrader4 can establish your basic trading knowledge and skills, if later you want to trade with other kinds of platforms, then you should practice trading in that platform as well.
Getting used to a certain kind of trading platform can take some time, although it may not as long as the time you will need to learn to trade. For this reason, it is better to choose a broker that provides an unlimited forex demo account .
The license does not mean that a broker will never cheat you or get into insolvency, but having a license or registered under the umbrella of a bonafide authority is a hallmark of a bonafide broker. At least, it shows their goodwill to protect consumer interest.
In this matter, you should know that not all authorities created equal. At the forefront of the industry, there are US NFA and CFTC, UK FCA, Japan JFSA, and Australian ASIC. European regulators that are linked under MiFID (Markets in Financial Instruments Directive) such as Cyprus CySEC should be quite secure as well.
See also: List of CySEC Regulated Forex Brokers
4. Educational Video or Webinars
In this cyber era, accesses to learn forex trading is abundant. There are many forex-related websites that provide sufficient information and guidance and even mock schools to turn novices into experts. However, rather than reading, oftentimes it is easier to learn from seeing; or in this case, watching educational videos.
But the actual purpose of choosing brokers who provide educational videos is not this; it is to measure the broker's commitment to see their clients succeeding. It may be too simplistic, but this method can filter out would-be scams as well because scams are more likely to tempt new traders with astronomical profit instead of realistic warning about the asset's risky nature and train traders to master forex trading.
5. Margin Call Feature
Traders may be able to limit losses with the use of stop loss facilities, but there will be times when stop loss is not yet placed or for some reason you choose to trade without it, in which cases it will be good for you if your broker has incorporated Margin Call feature.
Some may consider it an unnecessary burden to watch out for margin call aside from the overall balance, but for beginners, practice trading in a tight situation is better. Moreover, margin call may be your additional barrier before a total loss attack.
6. Responsive Customer Services
Responsive customer services are absolutely necessary for beginners. When you start trading, you will find many confusing terms, either in trading activities itself and in navigating your trading account. Because of this, responsive customer service must be one of your priorities in choosing a forex broker. Even for experienced traders, good customer service is always welcome. Or else, you will be caught in a labyrinth and end up losing money.
7. Negative Balance Protection
One of the most frequently asked questions among beginner traders is is it possible for us to owe money to our broker if we suffer losses beyond our account balance? Sadly we have to answer that with Yes, it is possible. Some brokers will even chase you to get your money in these cases. But don't worry, you do not always have to pay them back, and some other brokers even have negative balance protection in place.
Negative balance protection refers to the broker's commitment to pardon the negative balance that occurs on market failures. Market failures that inflict major damages are rare, but not without precedence. If you are a beginner, it can hit you hard. That's why, forex brokers with negative balance protection is eventually important for most traders.
Those seven points concluded my advice on what kind of broker a beginner should look for. It is good if you choose a broker by thinking about which broker will match your chosen trading strategy, but it is better if you choose a broker by considering your status as a beginner first. Thus, those are some features you should look for. You may think that you will retain your first trading account forever. However, as your knowledge and skills grow, you probably will look for other brokers with more desirable features than what you thought you need in the beginning.
Considering those features, which are the most suitable forex broker for beginners? Here is some you can consider. Each of them at least fulfills two-thirds of the criteria:
Variable and Fixed
Trading by telephone
Islamic accounts available
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.
Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.
For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM , traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
Interest rate on funds
Trading by telephone
Islamic accounts available
Requires sending documents via postal mail
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.
Interest rate on funds
US traders are welcome
Traders looking for brokers with accurate precision, OANDA can be an option . That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Order execution speed is also faster in this broker.
It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.
Founded in 1996, OANDA was built by Dr. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. They have a head office in San Francisco, United States.
OANDA branch offices can be found everywhere. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide.
OANDA's company is registered under several well-known jurisdictions in financial trading. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. Traders do not need to worry anymore about security when trading in OANDA . However, these advantages make trading rules at OANDA more stringent compared to other brokers.
For example, OANDA only allows maximum leverage of 1:50, because the rules in the US and Japan do not allow leverage above that. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge.
Nevertheless, OANDA is known for being a leading broker with many advantages offered. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. That way, traders can get the latest conditions from price movements in the market more quickly.
Prices move very fast in the market. Especially when news releases have a large impact on market volatility. This condition is often exploited by brokers to take advantage of clients with Requotes. However, traders do not need to worry about additional costs when trading with OANDA.
The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.
As an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage.
With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. This suits traders who choose brokers based on execution speed.
Because of this exceptional execution service, it is not surprising that OANDA won many awards, including the winner of the world's Best Retail FX Platform at the prestigious e-FX awards. The broker is also voted number 1 for Consistency of filling trades at quoted prices, Execution speed, and Reliability of platforms.
There is no minimum deposit or minimum balance required to open an OANDA account . Deposit and withdrawal can be done easily. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. Traders can adjust it to the region where they live.
OANDA provides more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent Crude Oil, Copper, Corn, Natural Gas, Soybeans, Sugar, etc.), 6 Bonds, and 23 Metals.
The fxTrade and MetaTrader platform are available at OANDA. These platforms can be used for Desktop and Mobile. Another plus is they have an OANDA Technical Analysis that exists in collaboration with a technical analysis provider called Autochartist.
With these platforms, clients can monitor price movements easier and automatically recognize patterns created on charts, as well as receive alerts when the awaited patterns appear. Access to this technology can be enjoyed free of charge.
In conclusion, OANDA is an ideal broker for traders in need of fast execution backed by many years of experience. The company is also a good alternative for those looking for a well-regulated broker with flexible trading and deposit conditions.
Islamic accounts available
Requires sending documents via postal mail
Branding their trading service as a three-pronged approach of safety through technology and education, FXPRIMUS is a broker operated by Primus Markets INTL Limited, a member company of the FXPRIMUS Group regulated by Vanuatu Financial Services Commission (VSFC). Other members in the network include Primus Global Ltd (regulated by CySEC) and Primus Africa (Pty) Ltd (regulated by FSCA).
Founded in 2009, FXPRIMUS brought their safety assurance with several programs like negative balance protection, segregated account, top-tier liquidity, third-party monitoring, and professional indemnity insurance of €2.5 million.
As for the main trading conditions, FXPRIMUS offers spread from 0.1 pips with a minimum trading size of 0.01 lot. Trading instruments in FXPRIMUS cover most of the highly traded assets in the financial market, starting from forex major pairs, equities, indices, energies, precious metals, and cryptocurrencies.
Interestingly, trading in FXPRIMUS also leads to the offering of two special accounts seemingly based on spread and/or execution, which are Variable and ECN Premium accounts. Traders who register under the ECN account would be served with the lowest spread starting from 0 pip. As much as its flexibility to present many kinds of trading accounts, FXPRIMUS doesn't describe the trading specifications for every account in great detail.
Therefore, traders may face difficulties when doing some research on additional but important specs such as maximum leverage, Stop Out and Margin Call levels for each account, etc. Nonetheless, spread and swap details are provided thoroughly on a special page labeled as Live Spreads and Swap. This reflects on FXPRIMUS' commitment as a transparent broker.
On the deposits and withdrawals front, FXPRIMUS generously gives traders with 0% fee policy. It enables traders to be more flexible in managing their deposit and withdrawal numbers without considering the number of fees that may be applied to their transactions. The payment methods vary from Wire Transfer, Credit Card, electronic payment like FasaPay and Skrill, as well as Bitpay that facilitates cryptocurrencies' holders.
Although the minimum deposit following an account opening in FXPRIMUS is quite high for new traders, this broker greatly emphasizes the importance of educational features. Traders can take advantage of numerous features like Weekly Outlook, Expert Guests, tutorial videos, and Webinars that serve educational purposes as well as analytical importance.
Unfortunately, FXPRIMUS hasn't upgraded its platform to a dual offering with MT4 and MT5. The broker still focuses on MT4 as the only trading platform for its traders, even though it tries to be at the forefront of high-end brokers in terms of technology advancement by providing VPS, Platinum API, and an in-house PAMM platform.
In conclusion, FXPRIMUS is an ideal broker to traders looking for safety aspects and mid-level trading technology. Considering its minimum deposit standard, it is recommended for traders with intermediate-level experience.
For better comparison, here is an example of side-by-side comparison between all of the brokers above:
rated by 675 users
rated by 175 users
rated by 58 users
rated by 91 users
|Office(s)||Belize, Cyprus, Mauritius, South Africa and United Kingdom||Australia, Cyprus, Greece and Hungary||British Virgin Islands, Canada, Germany, Japan, Malta, Poland, Singapore, Switzerland, United Arab Emirates, United Kingdom and United States||Cyprus|
|Regulation|| CySEC 185/12 |
FCA (UK), 777911
FSC (Mauritius), C113012295
FSCA (South Africa), 46614
| ASIC 443670 |
CNMV (Spain), 2010157773
CONSOB (Italy), 3046
FCA (UK), 538324
FSP (New Zealand), FSP235905
|CFTC/NFA, 0325821 |
FCA (UK) 54257
FSA (Japan), 1571
FSC (BVI), SIBA/L/20/1130
Kanto Local Finance Bureau (Japan), 2137
|CySEC, 261/14 |
FSCA (South Africa), 46675
Vanuatu Financial Services Commission, 14595
|Minimum Position||0.01 lot||0.01 lot||0.00001 lot||0.01 lot|
|Payment||Bitcoin, Credit/debit cards, DIXIPAY, FasaPay, Neteller, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire transfer and Yandex.Money||CashU, Credit/debit cards, FasaPay, giropay, iDEAL, Moneta.Ru, Neteller, paysafecard, QIWI, Skrill, SOFORT, UnionPay, WebMoney, Western Union and Wire transfer||Credit/debit cards, Neteller, Skrill and Wire transfer||Bitcoin, Credit/debit cards, FasaPay, Neteller, Skrill, UnionPay and Wire transfer|
|Official Website||Visit FXTM||Visit XM||Visit OANDA||Visit FXPRIMUS|
|Forex Demo Account|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Arabic, Chinese, Czech, English, French, Hindi, Indonesian, Italian, Korean, Malay, Persian, Polish, Russian, Spanish, Thai, Turkish, Urdu, Vietnamese||Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Turkish||Chinese, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish||Arabic, Chinese, English, Indonesian, Russian, Spanish, Thai|
|General Review||Read FXTM Review||Read XM Review||Read OANDA Review||Read FXPRIMUS Review|
|User Reviews|| |
WAHYUDIJul 27 2020
I registered with fxtm with the name wahyudi
then fxtm agreed to verify my KTP with the name wahyudi
then I deposited with perfectmoney with the name wahyudi
then I traded, and I after there was a slight profit
I want to withdraw
BUT!!! when I want to withdraw, fxtm refuses to verify my perfectmoney named wahyudi, they deliberately refuse to verify my perfectmoney, so my money can't be withdrawn, fxtm refuses with a variety of unreasonable reasons.
be careful trading with fxtm, this broker is Fraud! Fxtm never intends to pay.
DianneJul 27 2020
Rayner LkeaJul 27 2020
Very disappointed when trading on fxtm, the candlestick chart is not the same as the default mt4 chart.
Because of that, I got hit by an MC. It's not about the money, it's about trust. Please improve your service immediately. I only trade a small amount yet still cheated. Can't imagine if I deposit a big amount of money. My... my...
Sicilia RZJul 27 2020
Hi admin, I am new to forex and try to open a demo account on FXTM.
I find it very useful, they provide a forex video tutorial for a newbie like me. thank you FXTM.
JayJul 27 2020
I trade with 2 brokers, one of them is FXTM. I have been trading on FXTM for 1 year, a little of my experience on the FXTM ECN account:
So far there is no problem with FXTM in terms of trading, deposit & withdrawal :)
GeoffreyJul 24 2020
I just traded on fxtm but it was very disappointing.
I took the GBP position, early in the morning the price dropped dramatically to 1.20209.
I check my account on another broker, it hits the take profit. Which made me feel weird because on fxtm the price is up to 1.14677, so my account was negative. When I calculated, my account balance supposed to still strong, but in reality, my account is in minus.
Jeanice GoiJul 24 2020
Hi, just want to share about MT4 trading on fxtm, it's been around 7 months and during that time, I've never experienced freeze on its mt4. Nice job. And for my account manager, thanks for the support
MaryJul 24 2020
Withdrawal in fxtm via fasapay is very fast! Like cooking an instant noodles XD
For those who don't like to wait, withdrawal in fxtm is very recommended
Hardy TnJul 24 2020
I think this broker deserves a value of 8, especially for its customer service and WD DEPO services. Success for FXTM
Adriana NellaJul 24 2020
FXTM is not the only broker I use, but I could say that this is the best. When NFP released, my account at another broker is crashed, it couldn't be executed. There was a completely dead, just can't log in. like how to trade news :)
but on the contrary, my FXTM ECN platform is still running normally even in a hectic market condition. FXTM ECN account is very reliable for scalping.
Halim KJul 24 2020
Just a little experience, for those who like Scalping, ECN accounts on fxtm is recommended. It has a fairly low spread and execute on MT4 very fast. This is what I like.
Pretchavvan SajmanooJul 24 2020
A little testimonial for FXTM. Yesterday, I withdraw on cent account, in 10 Minutes, the fund already landed on my Fasapay account.
Geekie BoiiJul 24 2020
Thanks God, cent accounts at FXTM are gradually growing. I'm using FXTM Cent accounts including Nano (can open 0.01 positions and maximum OP to 300 open positions) is not bad for those who use EA
John MJul 24 2020
Excellent support. 2 thumbs up for the FXTM account manager, fast response either by telephone or by email.
Charlie ChiakyJul 24 2020
I traded on FXTM for 6 months with an Ecn Zero account with a leverage of 1: 1000.
My experience using Ecn Zero: fast execution, stable server, spreads starting from 0.5
I rarely encounter requotes and slippage on FXTM. Overall, FXTM is good for me.
Rommel DjayJul 24 2020
I have accounts at 4 brokers, one of them at FXTM. At FXTM, I use an ECN account because I can use any technique there. I am satisfied with the very fast execution and spread on FXTM ECN is relatively small. FXTM is recommended in terms of support, MT4 platform, and spreads
Linda SilversteinJul 24 2020
FXTM broker is quite good in my opinion, specifically for customer support and my account manager who has been very helpful to me when there are problems with my account. thanks FXTM
Gerdino JacqueilleJul 24 2020
It turns out that FXTM has many types of accounts: ECN, Standard, ECN Zero, Strategy, Pro Account, etc. There are many trading and investment instruments such as forex, precious metals, Stock CFDs, ETF CFDs and Commodity CFDs. Its trading features are easy and very helpful, for example, free of swaps and without commissions and without any hospitalization fees or fees except for very small spreads.
A few months ago I traded with a capital of USD 400, and within 1 month I reached a profit of up to USD 16,000. Again, I also really experience FXTM, this international broker based in Cyprus is very responsible and takes into account the interests of its clients and traders.
Yesterday morning, I was shocked that gold fell and the account had lost USD 1,368.80 due to Error Quotes. But in the afternoon, I got an email from the FXTM Compliance Dept. and a number of illicit loss (forbidden and undesirable losses) that I suffered turned out to get compensation in the form of compensation a refund of USD 1,368.80.
This is very impressive, and this is the first time I've experienced it. Thanks FXTM. Proficiat for new offices in the UK. GBU.
Sigit WJul 24 2020
In real trading, I often experience Slippage, and there is always a widening of the spread, for example in GBP / USD the spread often widens to 60-70. And I have experienced it myself. I hope this will be useful info for other traders. Regards.
P. RichardJul 21 2020
To ease your withdrawal process, make sure your trading account has been verified by XM. The verification process relates to your personal data agreement. Otherwise, any difficult withdrawal may be caused by an unverified trading account. For me, XM is good at all, including their deposit and withdrawal method. Good, XM!
NovrizalJul 21 2020
Trading at XM's Zero Account was pretty good. They give zero spread and low commission. I like it!
Mr. ZackJul 21 2020
I have no problem during trading at XM real account, but I suggest XM to consider a longer expiration time on demo account :D
R. NimiJul 21 2020
Trading execution at XM is very good. They also help novices like me to understand forex trading through free webinars. I wish XM held their trading contest again :)
KaiandraJul 21 2020
The trading platform at XM is very nice! I believe this is the most appropriate one for Indonesian traders! They offer MT4, MT5, even MetaTrader for web-trading. Nice work XM!
IvanovaJul 21 2020
I got confused during registering for my trading account. Fortunately, their customer service is fast-response and very helpful. Their trading condition and trading platform are also awesome. Thanks XM!
Cak MoestopoJul 21 2020
So far so good at XM. They have CS that is fluent at Indonesian, also deposit withdrawal method with a free commission. Broker joss lah!
Salam from Indonesia.
Evan SJul 21 2020
XM is very good for those looking for free trading signals. They also often held free online webinars. Unfortunately, they don't have an ECN account yet for traders.
Finn R.BJul 21 2020
I love trading at XM due to their commission-free deposit and several instruments offer, though their account verification is quite difficult *LOL XD
Syarif ZJul 21 2020
Hi, I'm from Indonesia. I also trade on XM and find out their customer care is very good for Indonesian. Mantapp!!!
W. BillieJul 21 2020
I tried to register a trading account XM and got no deposit bonus. After 2 weeks, I got a profit as much as USD108. I decided to withdraw for USD60 and it was accepted. Thank you, XM!
DemianJul 21 2020
I've traded on several brokers, but I think XM is the best due to their trading conditions. Nice work, bruh!
C. LeeJul 21 2020
I registered for my trading account at XM last year. I found their whole services are pretty good, especially their commission-free on deposit. But their spread is extremely unpredictable during news release. Be careful, traders!
GabrielJul 21 2020
XM's website is very hard to load! I look for any bonus info but it takes for hours!
ShafeeyaJul 21 2020
I feel so disappointed with XM regarding their leverage option. My trading account firstly used 1:888 leverage, but then it was changed to 1:100. Plus, they said my trading account will no longer available to get any bonuses from XM. I've sent my complain but they didn't give any responses yet,,
ZalandraJul 21 2020
I've been trading at XM for almost 7 years and had no much problem with them. But recently they changed their deposit withdrawal method with no longer using MasterCard. This made me confuse sooo much!! Whyyy??!!
Mr. PawwwJul 17 2020
I used to trade on zero account, but recently I moved to ultra-low trading account. I think it doesn't matter on what account is used. The most important one is money management. I love XM because their withdrawal process is quite great.
LylyJul 17 2020
I'm XM's client for these several years. Recently, their customer service gives slow responses to any troubles. Plus, their website is difficult to access. I have almost moved my trading account to other brokers.
GeorgieJul 17 2020
I've been trading at XM for almost a year, and everything goes well. I always withdraw my balance per month.
AshleyJul 17 2020
I do trading forex using a few balances. My friend suggests me to register at XM and it's quite good so far. I don't find any notable problems with XM. Nice!
ZaheeraJul 17 2020
My first trading at XM was quite good, but it went worse even more. It's hard to do deposit or withdrawal. That's why I don't have much balance at my account that often. I hope they can improve their service for the clients.
FeliciaJul 17 2020
I'm new at XM. I chose XM because they have many leverage offers. It's good for a novice like me
AbbyJul 17 2020
I got my passive income from XM rebate program. It can be withdrawn weekly, so it's good as my additional shopping budget :D
PatriciaJul 17 2020
I joined on their roadshow at Indonesia last year. It was so great and useful for me! Thankyou XM!
AbrahamJul 17 2020
Though XM has so many customers, their customer care is incredibly great! Two thumbs up for you!
ReginaJul 17 2020
I do agree that XM is one of the well-regulated forex brokers for traders! Cheers to you!
BerlianaJul 17 2020
One thing I love most from XM is their regular trading event. I even can't miss them once. It's always good and awesome!
CathyJul 17 2020
Hi, I'm new at trading forex. I want to share my trading experience at XM. Before being a part of this broker, I was trading at other brokers since 2017, but their commission and payment method for deposit withdrawal isn't my type. Finally, I chose XM at the end of 2018. To this day, I am so satisfied with XM's services, especially their regular webinar event. You guys have to trade on XM!
ElenaJul 17 2020
It's good to trade on XM. They have lots of trading competitions. One of them was even prized as much as $11,000 for the winner! WOW! I'm gonna join it sooner! Thankyou XM!
MatthewJul 16 2020
I'm so disappointed with XM. I did a withdrawal on May 28th, 2020 but it wasn't sent to my bank account until June 10th. Better you trade on other brokers. XM ISNT GOOD AT ALL, IT'S SCAM!
ChachaJul 22 2020
OANDA offers too little leverage limit. This isn't suitable for small capital traders.
CooperJul 22 2020
From the first year until now, I trade using OANDA and still consider they are the best and most trusted broker. The lot position offered is flexible and the platform is very user-friendly. However, their spreads on Saturdays and Sundays are quite wide, so I have to trade on weekdays. A little troublesome, anyway, but I've already matched with OANDA.
faraJul 8 2020
complex feature on this broker
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Of course, this is just a raw suggestion. Considering the huge number of brokers out there, there are definitely many others. Take your time and choose carefully. The first step toward success in forex trading is choosing the right broker for you. Also, make sure to avoid scams by recognizing forex broker frauds.