XM account types and quick, simple ways to open them

Are you interested in XM and want to know what the differences are between XM account types? Do you want to open one or more XM accounts to trade on many different platforms? Do you want to know how to log in, check, and delete your XM account? In this article, MForex will help you learn detailed information about the questions traders often encounter above.

Take a look at XM  account types

XM is one of the world’s largest and most prestigious trading exchanges, with more than 3.5 million customers from 196 countries. XM exchange provides customers with many options for XM account types, suitable for each person’s needs and trading goals.

XM Demo Account

The XM Demo account is a type of simulated account that allows you to trade virtual money on the MetaTrader 4 or MetaTrader 5 platform. The XM Demo account helps you get acquainted with the features and tools of the XM platform. Furthermore, traders can test their trading strategies and methods without risking real money. You can open an XM Demo account for free and with unlimited usage time.

XM Live account

An XM Live account is a real account type that allows you to trade with real money on the MetaTrader 4 or MetaTrader 5 platforms. An XM Live account requires you to verify your identity and address before you can deposit and withdraw money. It depends on the amount you want to deposit into the account.

XM Standard account

The XM Standard account is one of the most popular XM account types, suitable for most traders. XM Standard account has the following characteristics:

• Minimum deposit amount: 5 USD
• Leverage: from 1:1 to 888:1
• Lot size: 1 lot = 100,000 currency units
• Maximum order quantity: 200
• There are no commissions
• Spread: from 1 pip

Micro account

Micro account is an account type for those who are new to trading or those who want to trade with small amounts of money. Microaccounts have the following characteristics:

• Minimum deposit amount: 5 USD
• Leverage: from 1:1 to 888:1
• Lot size: 1 lot = 1,000 currency units
• Maximum order quantity: 200
• There are no commissions
• Spread: from 1 pip

Ultra Low XM exchange

The XM Ultra Low account is an account type for those who want to trade with low spreads and low commissions. The XM Ultra Low account has two versions: Standard Ultra and Micro Ultra. Their characteristics are:

• Minimum deposit amount: 50 USD
• Leverage: from 1:1 to 888:1
• Lot size: 1 lot = 100,000 currency units (Standard Ultra) or 1 lot = 1,000 currency units (Micro Ultra)
• Maximum order quantity: 200
• Commission: from 0.8 USD/lot (Standard Ultra) or 0.08 USD/lot (Micro Ultra)
• Spread: from 0.6 pips

XM Share account

The XM Share account is also one of the XM account types for those who want to trade real stocks of more than 700 major companies in the world, such as Apple, Facebook, Google, Amazon, etc. following characteristics:

• Minimum deposit amount: 10,000 USD
• Leverage: none
• Lot size: 1 lot = 1 share
• Maximum number of orders: unlimited
• Commission: from 0.04 USD/share
• Spread: none

Benefits of each XM account group

Each type of XM account has unique benefits, suitable for each person’s needs and trading goals. Below are some common benefits of each XM account group:

Benefits of the XM Demo account

The XM Demo account has the following benefits:

• Helps you get acquainted with the features and tools of XM exchange, as well as the trading products it offers.
• Helps you test your trading strategies and methods without risking real money.
• Helps you practice risk management skills and trading psychology.
• Helps you prepare for the transition to trading with an XM Live account.

Benefits of an XM Live account

An XM Live account has the following benefits:

• Allows you to trade with real money and earn real profits from your successful trades.
• Allows you to experience real trading conditions, with factors such as spreads, commissions, slippage, requotes, etc.
• Allows you to participate in XM promotions and bonuses, such as welcome bonuses.
• Allows you to deposit and withdraw money quickly and securely, with a variety of payment methods, such as credit cards, debit cards, e-wallets, online banking, etc.
• Allows you to receive professional and dedicated support from XM staff, through channels such as email, phone, online chat, etc.

Compare account types on XM

Now that you know the XM account types and their benefits, you may be wondering which account type to choose for yourself. Thereby, you can choose a suitable trading account for yourself. MForex will compare XM account types according to the following criteria:

• Minimum deposit amount
• Lever
• Lot size
• Maximum order quantity
• Rose
• Spread

The following table summarizes information about XM account types:

Which type of XM account should I choose?

Choosing the type of XM account depends on many factors, such as the amount of money you can deposit into the account, the level of risk you accept, the type of trading product you are interested in, etc. Some suggestions for you are :

• If you are new to trading or want to test your trading strategies and methods without risking real money, you should choose the XM Demo account.
• If you want to trade with small amounts or want a small lot size for better risk control, you should choose a Micro account.
• If you want to trade with larger amounts and have larger lot sizes, you should choose the Standard account.
• If you want to trade with low spreads and low commissions, you should choose the Ultra Low account. You can choose the Standard Ultra or Micro Ultra version depending on the lot size you want to trade.
• If you want to trade real stocks of major companies in the world, you should choose the Share account. However, you should note that this type of account requires a high minimum deposit and has no leverage.

Can I choose more than one XM account types?

The answer is yes. You can open many different XM accounts to trade on different platforms, with different trading conditions. You can open up to 8 XM accounts on one email address. You can also transfer money between your accounts easily and for free.

See more: The most detailed instructions for login XM for traders

How to open an XM account on many platforms

To open an XM account, you need to visit the official XM website or app and follow these steps.

Instructions for opening XM account types on the Web

Step 1: Visit the XM homepage and start XM login: https://www.xm.com/

Step 2: Log in to XM with the account information you just registered above.

Step 3: Choose a real account, if you want to trade in the market with real money. Choose a demo account, if you want to experiment with the market to gain experience.

Step 4: Provide the exchange with detailed information about the account profile.

Step 5: Choose the currency for your account, like USD, EUR, GBP, etc…

Step 6: Set up a password for your trading account.

Step 7: To be able to start trading, you need to verify with the exchange. You can use a CD or passport to provide documents for verification.

After uploading and waiting for the attachment to be successfully verified, you only need to wait within 24 hours for the exchange to complete the verification. Then traders can start trading on the exchange.

See more: XM IB Commission: How to calculate commission for partners

How to open an XM account on the XM app

Step 1: Download the XM trading app from CH Play or the App Store.

Step 2: Open the downloaded application and start creating an account.

Step 3: Provide an email address for the account

Step 4: Set up a password for your account.

Step 5: Open the inbox of the email you provided above. The exchange will send you an email, you need to confirm to continue creating an account.

Step 6: After verifying your email, you can log in to the exchange with the account you just registered.

Step 7: After successfully logging in. To be able to start trading, you need to verify your profile.

Step 8: Provide some personal information to complete your profile.

Step 9: Finally, you need to upload your identification documents for the exchange to conduct verification. You can use a CD or passport for verification.

After successfully uploading the file. You just need to wait within 24 working hours for the exchange to complete verification of your account. After that, traders can buy and sell on the forex market.

Why should you open XM account types?

There are many reasons why you should open XM account types and trade with this exchange. A few prominent reasons are as follows:

Benefits when trading with XM exchange

XM is the world’s largest and most prestigious trading exchange, with more than 3.5 million customers from 196 countries. When trading with XM, you will receive the following benefits.

Trading conditions

Good trading conditions, with low spreads, low commissions, no requotes, no slippage or price gaps, and no hidden fees.

Trading products

Covering 1000+ currencies, precious metals, commodities, stock indices, stocks, and cryptocurrencies. In addition, you can trade with exclusive products, such as stock indices developed by XM. Such as USDXM, EUROMXN, CHINAXM,…

Trading platform

XM account types are quite diverse and have diverse trading platforms. With MetaTrader 4 and MetaTrader 5 for Web, PC and mobile. Traders can trade at high speed, with an order processing time of just 0.4 seconds. Furthermore, you can also use technical and fundamental analysis tools, indicators, and trading robots on the platform.

Support team

You can receive professional and dedicated support from XM staff. Through channels such as email, phone, online chat, etc. Traders can receive support in many languages. Including Vietnamese, English, Chinese, Thai, Indonesian, etc. You can also use XM’s information and analysis sources, such as news, economic calendar, analysis reports, etc.

Safe and secure

Your account is safe and secure, with protections such as SSL encryption, two-factor verification, deposit insurance, etc. such as ASIC (Australia), CySEC (Cyprus), IFSC (Belize), FCA (UK), etc.

Bonuses

Many promotions and bonuses for new and old customers, such as welcome bonuses, 30 XM bonus, deposit bonuses, incentive bonuses, redemption bonuses, etc. You can also participate in the XM’s competitions and prizes, such as world trading competitions, companion trading competitions, etc.

With the above benefits, you have a reason to open XM account types and trade with this exchange. However, you should also note that forex trading is a high-risk activity. You need to have knowledge, skills, and good psychology to be successful. In addition, you also need to comply with the rules and terms of XM when trading.

Instructions for performing some operations with MForex accounts

Once you have opened an XM account and started trading, you may need to perform some operations on your account, such as logging in, checking, and deleting your account.

How to log in to your XM account

To log in to your XM account, you need your account number and password. You can sign in to your account on various platforms, like Web, PC, and mobile. You need to select the trading platform you want to use, such as MetaTrader 4 or MetaTrader 5. You also need to enter the server name of the XM exchange in the “Server” box. You can find the server name in the confirmation email from the XM platform when you register your account—for example, XMGlobal-MT4 or XMGlobal-MT5.

How do I check the XM account?

To check your XM account, you need to log in to your account on the trading platform of your choice. You can then view information about your account, such as balance, profit/volume, leverage, currency, etc. You can also view your trading history, including transactions. Opened and closed orders, pending orders, stop loss and take profit orders, etc.

How to delete an XM account?

To delete your XM account, you need to contact XM customer support via email or phone. You need to provide your account number and the reason you want to delete your account. You must also withdraw all funds from your account before requesting deletion. After receiving your request, the XM exchange will process and confirm for you within 24 hours.

In this article, MForex introduces you to XM account types and how to open them. Give you suggestions to choose the account type that suits your needs and trading goals. In addition, we have also shown you how to perform some operations with your XM account, such as logging in, checking, and deleting your account. Hopefully, this article will help traders trade on the foreign exchange market. Learn more about the XM IB commission to get the most accurate information!

FAQ

Criteria for choosing an XM account?

Choosing an XM account type depends on many factors, such as the amount of money you can deposit into the account, the level of risk you accept, the type of trading product you are interested in, etc.

How to delete an XM charge?

To delete your XM account, you need to contact XM customer support via email or phone. You need to provide your account number and the reason you want to delete your account. You must also withdraw all funds from your account before requesting deletion.

How many types of accounts does XM Live have?

XM account types are very diverse, especially XM Live accounts are real accounts, of which there are many different account types. Including Standard, Micro, Ultra Low accounts and Shares accounts.