As the title implies, the main reason that XM is the best broker is for this specific reason: it does not charge a commission to sell your stock. XM trading minimum deposit is only 5 dollars. Other brokers charge anywhere from $2 to $50 per trade. While others charge a commission fee, XM does not. All this means is that you are not paying any commission or taking any of your money to the company for helping you buy a stock. And that means more money to put in your pocket!
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Brokers Can Limit Your Options
Most brokers offer many different investment options to choose from, and that’s great. But it can be overwhelming if you are looking to invest in individual stocks. How many stocks should you buy? Should you invest in a bunch of stocks or spread them out over a couple of accounts? Should you invest in individual sectors or try to go broad with a variety of sectors? Do you really want to try and pick individual stocks and risk losing your money if you get it wrong?
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By having a broker that doesn’t charge any commission, you don’t have to worry about these questions. You can invest just a little and concentrate on choosing the best stocks to invest in.
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Other User Satisfaction Factors
For whatever reasons, XM is ranked top for overall satisfaction for a number of the user-related factors. The reasons can be as simple as the customer just “liked” XM and decided to share their thoughts.
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So, let’s take a closer look at the rankings and how it makes XM the best broker:
Top for Concierge Service
When it comes to telephone customer service, XM is ranked #1 by 7 of the 10 customer satisfaction questions in our survey.
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Aside from the top spot on the overall satisfaction chart, XM also ranks #1 for:
- Custodial Service
- Inventory Control
- Pricing Accuracy
In addition, the survey indicates XM is #1 for:
- Recommendation by Customer
- Online Shopping
- Customer Response
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In fact, the survey indicates XM “receives about six phone calls per day from its customers.”
There are a few other interesting statistics from the survey:
- XM’s site boasts 30,848 unique pages
- 85,936% of XM’s users are first time visitors to the XM site
- XM is ranked second for overall site traffic
- XM gets 2,882 users each day
This survey shows clearly that why it has become one of the best brokers.
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Avoid These Myths
One of the biggest mistakes new investors make is thinking that buying shares is the only thing that you need to worry about when you buy a stock. This is incorrect. If you bought all the stocks in the market, you would have to go through a couple of brokers before you started to make some money. Buying a whole bunch of stocks on your own could cost you a lot of money and quite possibly cripple you financially. Instead of buying all the stocks in the market, buy what’s right for you and invest a little. You will start seeing results and be making money in no time.
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XM Brokers is the best broker out there for those who need no commission at all. They do not charge any transaction fees, so they are a great option for those who are just starting out. XM Brokers is one of the best online stock brokerages available right now.
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