Formerly established in 2009 as Trading Point of Financial Instruments Ltd, XM is a regulated Forex broker in the Republic of Cyprus. The company was initially founded by a group of interbank dealers who wanted to improve the level of services in the Forex trading community. With XM, traders now have access to the commodities, CFDs and Forex markets.
One of the main advantages of dealing with XM is the fact that the company is based in Cyprus, a member country of the Eurozone. This mean XM meets the minimum fiduciary standard required of a financial service provider operating in the Eurozone. Incidentally, XM is also registered with the Federal Financial Supervisory Authority of Germany (BaFin) and UK’s Financial Services Authority (FSA) thus giving added protection to traders.
What makes XM outstanding is that there are no re-quotes or rejections of trading orders, no hidden fees or commissions, and 99.35% of orders get executed in less than 1 second.
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