XM Broker Turkey

XM Forex is a popular and well-respected online trading platform that is becoming increasingly popular in Turkey. It offers Turkish traders the opportunity to trade in a variety of financial instruments such as forex, stocks, commodities, and indices. XM Forex is renowned for its user-friendly platform, competitive spreads, and excellent customer service. It also provides advanced trading tools and educational resources, making it an ideal choice for both novice and experienced traders. As a fully regulated platform, XM Forex offers a secure trading environment, thereby gaining the trust of many Turkish traders. We will learn more about the platform in this XM Forex Turkey review.

XM Broker Review in Turkey

XM Broker Account Types

Micro Account

This account type is designed for beginners or those who wish to trade with lower volumes. The minimum deposit requirement is quite low at $5, making it accessible for most traders. The spreads in this account type can go as low as 1 pip. There is no commission on trades and hedging is allowed, meaning traders can protect themselves from potential losses. This account type also has a negative balance protection which means that a trader cannot lose more money than they have in their account. In addition, it includes swaps which involve the exchange of one security for another to change the maturity and quality of issues, or because investment needs differ.

Shares Account

This account is designed for trading shares. There is no leverage which means traders cannot borrow funds to increase the size of their trades. The spreads are determined by the underlying exchange and there is a commission on trades. Hedging is not allowed and there are no swaps. The minimum deposit for this account type is quite high at $10,000, making it more suitable for experienced traders or those with a higher risk appetite.

Standard Account

This account type is similar to the Micro Account with a minimum deposit of $5, spreads as low as 1 pip, and no commission. However, it has a lot restriction per ticket of 50 lots which means each trade must be in multiples of 50. Hedging is allowed and it also has negative balance protection and swaps.

XM Ultra Low Account

Requires a minimum deposit of $5 and offers negative balance protection. The spreads can go as low as 0.6 pips which makes it more competitive than the Standard Account. There is no commission on trades and hedging is allowed. However, unlike the Standard and Micro Accounts, the Ultra Low Account does not offer swaps.

Ultra Low Standard Accounts

This account offers zero swaps and zero commission. The spreads on major pairs can go as low as 0.6 pips, and it also provides negative balance protection. It has a low minimum deposit requirement, making it accessible to a wide range of traders.

XM Broker Demo Account

The XM broker demo account in Turkey is a valuable tool for both novice and experienced traders interested in forex and other forms of trading. This demo account allows users to experience and understand the nuances of trading without any real monetary risk, as they trade with virtual currency. Users can practice trading strategies, learn how to interpret market trends and familiarize themselves with the platform’s features and tools. XM broker is well-regarded for its user-friendly interface, robust customer support, and educational resources, making it a popular choice among Turkish traders. The demo account serves as an effective stepping stone before venturing into live trading.

XM Broker Account Types in Turkey

Available Financial Instruments

  • Forex Trading: This involves buying and selling different currencies, making profits from the fluctuations in their exchange rates.
  • Cryptocurrencies: XM Broker also provides a platform for trading cryptocurrencies. This includes digital currencies like Bitcoin, Ethereum, and Litecoin among others. Cryptocurrencies are highly volatile, offering high potential for gains (and losses).
  • Stock CFDs: Contract for Differences (CFDs) on stocks are another financial instrument available on XM forex. Traders can speculate on the rise and fall of stock prices without actually owning the underlying stocks.
  • Turbo Stocks: Turbo stocks refer to high-speed, short-term trades. Traders can engage in rapid buying and selling of stocks to capitalize on small price movements.
  • Commodities: This includes trading in physical commodities like oil, gold, silver, grains, meat, etc., or their futures contracts.
  • Equity Indices: Traders on XM Broker can also trade in equity indices. These are a measure of the performance of a section of the stock market, calculated from the prices of selected stocks.
  • Thematic Indices: Thematic indices are a type of equity index that only includes companies from specific sectors or industries, such as technology, healthcare, or renewable energy.
  • Precious Metals: Trading in precious metals like gold, silver, platinum, and palladium is also possible on XM Broker. These are often used as a hedge against inflation or economic uncertainty.
  • Energies: XM Broker offers trading in energy commodities like crude oil, natural gas, gasoline, and heating oil. Factors like geopolitical events, weather conditions, and changes in supply and demand can influence the prices of these commodities.
  • Shares: Lastly, XM Broker also offers trading in shares. This involves buying and selling ownership shares of public companies. The price of shares can fluctuate based on a variety of factors, including the company’s financial performance, economic conditions, and market sentiment.

XM Broker Deposit Options

XM forex offers various deposit options for their clients to ensure smooth and fast transactions.

  • Bank Transfers: This is a traditional method of transferring money directly from your bank account to your trading account. It is secure and can handle large amounts, however, it might take a few days for the money to appear in the trading account.
  • Credit/Debit Cards: XM Broker also accepts deposits through credit or debit cards. This method is much quicker than bank transfers and the funds usually appear instantly or within a few hours in your trading account.
  • E-Wallets: For those who prefer online transactions, XM Broker has partnered with several e-wallets like Skrill, Neteller, and PayPal. These platforms allow for instant deposits and are accessible from anywhere in the world.
  • Cryptocurrencies: With the growing popularity of digital currencies, XM forex broker have also started accepting deposits in various cryptocurrencies like Bitcoin, Ethereum, and Litecoin. This option provides an added layer of privacy and security, and transactions are typically processed quickly.

Please note that each deposit method may come with different fees and processing times, so it’s recommended to check XM Broker’s website for up-to-date information. The XM broker minimum deposit amount varies per account type.

XM broker is legit in Turkey

XM Broker Withdrawal Options

XM broker, a leading online trading platform, offers multiple withdrawal options to ensure that its clients can access their funds as conveniently and quickly as possible.

  • Credit/Debit Cards: XM forex broker allows withdrawals to most major credit and debit cards. However, only the amount initially deposited can be withdrawn to a card, and any excess profit must be withdrawn through another method.
  • E-Wallets: XM also supports withdrawals through various electronic payment systems such as Skrill, Neteller, and much more. These methods usually offer the fastest processing times.
  • Bank Wire Transfer: This is another withdrawal option provided by XM broker. It is ideal for large transactions, but it usually takes longer for the funds to reflect in your bank account.
  • Local Bank Transfer: In certain countries, XM supports withdrawals through local bank transfers.

The XM broker minimum withdrawal amount varies depending on the withdrawal method chosen. For credit/debit card and electronic payment systems, the minimum withdrawal amount is generally around $5. However, for bank wire transfers, the minimum withdrawal amount is $200.

Note: Always make sure to check the current details on the XM forex website or contact their customer support for accurate and up-to-date information, as these details may change over time.

XM forex Broker Trading Platforms

XM Broker provides a variety of trading platforms to cater to the diverse needs of their customers. Here are the trading platforms they offer:

  • XM App: This is a mobile application that provides a convenient way to engage in trading. It is available for download in the Google Play Store for Android users and in the Apple Store for iOS users. The XM app incorporates numerous features and tools to assist you with your trading needs on the go.
  • MetaTrader 4 (XM MT4): This platform is available for both PC and Mac users. It is a popular trading platform known for its user-friendly interface and advanced trading features. The XM MT4 platform also comes with a multiterminal option that allows you to manage multiple trading accounts simultaneously. For those who prefer to trade on their mobile devices, XM MT4 is available on Android and iPhone. Additionally, XM MT4 WebTrader allows you to engage in online trading directly through your browser without the need to download any software.
  • MetaTrader 5 (XM MT5): MetaTrader 5 is the newer version of the MetaTrader platform, boasting more features and capabilities. It is available for iPhone and Android users, enabling you to trade conveniently from your smartphone. It is also available for PC and Mac users. Like its predecessor, XM MT5 also comes with a WebTrader version, allowing you to trade directly from your web browser.

By providing a variety of trading platforms, XM Broker ensures that all their clients, regardless of their preferred trading device, can engage in efficient and convenient trading.

XM Broker Trading Platforms

XM Forex Additional Features

XM broker offers an array of additional features designed to improve their users’ trading experience. These features are particularly beneficial for both beginners and experienced traders.

  • Trading Tools: XM forex broker offers several trading tools that can assist traders in making informed trading decisions. These tools can include market analysis tools, technical and fundamental analysis tools, and real-time market news updates. They can help traders to track market trends, analyze price movements, and stay updated with market news.
  • MQL5: MetaQuotes Language 5 (MQL5) is a high-level language designed for developing technical indicators, trading robots, and utility applications. XM broker supports MQL5, which allows traders to automate their trading strategies. They can create, test, and implement their own Expert Advisors (EAs) and indicators, which can help them to save time and trade more efficiently.
  • Forex Calculators: XM broker provides Forex calculators that can help traders calculate various factors related to their trades. These can include pip value, margin, and profit calculators. These calculators can help traders to manage their risk effectively and maximize their profitability.

In conclusion, XM broker’s additional features such as trading tools, MQL5 support, and Forex calculators can provide significant advantages to traders. They can help traders to analyze the market effectively, automate their trading strategies, and manage their risk efficiently.

XM Education Resources

  • Market Overview: This feature provides a snapshot of the current state of the financial markets. It offers up-to-date information on the performance of various markets, including forex, commodities, indices, and stocks. It helps you understand the market dynamics and identifies potential trading opportunities.
  • Discover XM Research: XM broker conducts in-depth research into various financial markets and instruments. This feature allows you to access and explore this valuable information. The research could be based on fundamental or technical analysis and provide insights that could guide your trading decisions.
  • Trade Ideas: This feature provides specific trading ideas based on the analysis conducted by XM’s experienced analysts. These ideas could be based on a variety of factors, such as market trends, economic indicators, or technical patterns.
  • Technical Summaries: As part of its research offerings, XM provides technical summaries of various financial instruments. These summaries include key technical indicators, such as support and resistance levels, trend lines, and moving averages, among others. They provide a quick and easy way to understand the technical outlook of a particular instrument.
  • Economic Calendar: XM’s economic calendar is a useful tool for traders who base their decisions on fundamental analysis. It provides a schedule of all upcoming economic events and data releases that could impact the financial markets. It also provides forecasts and previous figures for these events.
  • XM TV: This is a video-based service where XM’s analysts provide daily market commentary, analysis, and educational content. It provides a more engaging and visual way to stay informed about the markets.
  • Podcast: XM forex also offers podcasts where their experts discuss a wide range of topics related to trading and the financial markets. These podcasts can be a great way to gain knowledge and insights while on the go.

Is XM Broker legal in Turkey?

XM broker is a recognized and legitimate forex and CFD trading platform that is legally allowed to operate in Turkey. It is regulated by several international financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the International Financial Services Commission of Belize (IFSC). This ensures that it adheres to strict regulatory standards and provides a secure trading environment for its clients. Turkish investors can therefore confidently engage in forex trading using the XM broker platform.

XM forex broker review in Turkey

XM Broker review Turkey – COnclusion

In conclusion, XM broker has established a strong presence in Turkey as a reliable and efficient Forex trading platform. It offers a range of trading instruments and advanced tools that have proven beneficial to both beginners and seasoned traders. A key aspect of XM broker’s popularity in Turkey is its compliance with international regulations and transparency in its operations, which instills trust among its users. Their customer support is also commendable, providing assistance in the native language, thereby making trading more accessible and convenient for Turkish traders. Therefore, XM broker is an excellent option for anyone looking to venture into Forex trading in Turkey.