XM mobile app: main features and functionality
When it comes to forex trading apps, there are lots of options. The XM mobile app is one of the most popular. This is because it is a simple app to use and provides users with lots of features. That said, here is a closer look at the benefits of using the XM mobile app.
| Pepperstone | XM | Axi | |
|---|---|---|---|
| Mobile App Rating | 4.5/5 | 4.5/5 | 4/5 |
| User friendliness | 4/5 | 4/5 | 3.5/5 |
| Updates | Yes | Yes | Yes |
| Biometric and two-factor authentication | Yes | Yes | Yes |
How to download and set up XM app
If you are interested in downloading and setting up the XM mobile app, simply complete the following steps:
Download the App: First navigate to your mobile app store to find the MetaTrader5 app.
Launch the App: Once you have downloaded the app, launch it to begin setting it up. Navigate to ‘manage accounts’ and click on the ‘+’ sign in the right corner. Enter a trading point in the ‘find broker’ field. Lastly, choose XM.COM-MT5 as the server.
Login: Once you have completed the other steps, log in, and you can begin trading.
Main features of XM mobile app
Some of the top features of the XM mobile app are:
Dashboard: One of the top benefits of the XM mobile app is that it works for both MT4 and MT5 users. Moreover, the dashboard offers a wide array of features available on the traditional XM platform.
Order & Charts: Users can access charts to make informed decisions and place orders, including stop loss orders.
Market Analysis: The XM mobile platform makes it possible to conduct in-depth market analysis.
Additional features of XM app
Other features offered on the XM app are:
The ability to track your orders.
Real-time interactive charts.
Market tips.
Other technical tools.
The ability to customize to suit your own preferences.
And more…
Technical Analysis Tools
The XM mobile app offers a wide variety of technical analysis tools. For instance, you can choose from the following chart types:
Bar Chart: These charts are made up of vertical lines. Each of these lines shows the open, close, high, and low prices of each product.
Line Chart: On the other hand, line charts connect all the closing prices using one line.
Candlestick Chart: Lastly, candlestick charts use a mixture of lines and bars, making them appear like candlesticks. These charts make it possible to identify swing highs and swing lows.
Main advantages and disadvantages of the XM mobile app
If you are wondering about the main pro and cons of the XM mobile app, some of them are as follows:
👍 Pros:
• Low stock CFD and Withdrawal Fees: One of the top benefits of using the XM mobile app is that it has low stock CFD and withdrawal fees. Their fees are lower than most comparable apps, making it an ideal app for those new to investing or with lower investment budgets.
•Easy Account Opening: Another major benefit of using the XM mobile app is that it allows for easy account opening. Although many apps have a complex process required for opening accounts, the process to open an account on the XM mobile app is considered more straightforward than most similar apps.
•Educational Tools: The XM mobile app offers various educational tools. This includes live events, pre-recorded videos, and more.
•Convenience: Additionally, the XM mobile app is highly convenient– it makes it possible to research products, buy, sell, and trade products from the comfort of your mobile phone.
•100% Execution of Orders: The XM platform offers 100% execution of orders, with 99.35% of them delivered almost instantly.
•Customer Support: Lastly, XM offers 24 hours customer service, five days a week.
👎 Cons:
• Limited Portfolio of Products: One of the main disadvantages of using the XM mobile app is that it has only a limited number of products available. Using the regular version of XM provides users with far more options.
• Lack of Investor Protection: Another one of the downsides of using the XM mobile app is that there is a lack of investor protection. In particular, there is a lack of protection for investors outside of the EU.
• Average Fees for Stock Index CFD Fees: The average fees for stock index CFDs are typically higher than many expect.
FAQ
How many trading instruments are available on the XM mobile app?
The XM mobile app offers over 1000 instruments that are designed to suit investors of all levels.
What kinds of educational materials are offered by the XM mobile app?
The XM mobile app offers a wide array of educational materials. This comprehensive collection of materials includes everything from live sessions to pre-recorded videos and more.
How many currency pairs are offered on the mobile app?
There are over 55 currency pairs available on the XM mobile app.
Does the XM mobile app charge fees on withdrawals?
The XM mobile app does not charge fees for withdrawals. However, when customers make withdrawal requests via bank wire transfers, you may be charged a $15 fee when cashing out under $200.
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Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.