XM is one of the world’s leading brokers. The platform provides forex and CFD trading services on stock indices, commodities, stocks, metals, and energies. In this article, MForex will introduce you to XM real account. Types of XM accounts, how to open real XM accounts on the web and phone, characteristics and notes when trading with this type of account.
Information traders need to know about XM real accounts
This type of account allows you to trade with real money on XM. To get a real XM account, you need to register and verify your identity on the XM website. You also need to deposit money into your account to be able to trade. XM supports many payment methods such as credit cards, debit cards, Skrill, Neteller, WebMoney, and online banking.
What is XM real account?
This type of account allows you to trade with real money on the XM platform. When you trade with an XM real account, you will enjoy the following benefits:
- Trade over 1000 different products, including forex, CFDs on stock indices, commodities, shares, metals, and energies.
- Low spreads from 0 pips and leverage from 1:1 to 1000:1.
- Transactions will not be rejected or re-quoted.
- Diverse trading platforms. Including MT4, MT5, and XM WebTrader.
- Receive professional and enthusiastic support from the XM support department.
- Participate in attractive promotions and prizes from XM.
Types of XM accounts that traders need to know
XM offers customers 4 different types of MForex accounts. Specifically, the types of XM accounts are as follows.
XM Ultra Low Account
This is XM’s newest account type. Allows you to trade with extremely low spreads from 0.6 pips and commission-free. This account has two base currencies, USD and EUR, and requires a minimum balance of 50 USD or equivalent. This account allows you to trade with a minimum lot size of 0.01 lots and a maximum of 50 lots.
XM Zero Account
This account type allows you to trade with the lowest spreads from 0 pips and fixed commission fees. This account has three base currencies: USD, JPY, and EUR, and requires a minimum balance of 100 USD or equivalent. This account allows you to trade with a minimum lot size of 0.01 lots and a maximum of 100 lots.
XM Standard Account
Standard is the most popular account type of XM forex exchange. Allows you to trade with variable spreads from 1 pip and no commissions. This account has multiple base currencies to choose from. Includes USD, EUR, GBP, CHF, AUD, HUF, PLN, and ZAR, and requires a minimum balance of 5 USD or equivalent. This account allows you to trade with a minimum lot size of 0.01 lots and a maximum of 50 lots.
XM Micro Account
This type of account allows you to trade with the smallest lot sizes. Suitable for traders who are just starting or want to test their trading strategies. This account has the same trading conditions as the XM Standard Account. However, the minimum lot size is 0.01 micro lot (equivalent to 1000 currency units) and the maximum is 100 micro lots.
Policy of demo accounts and real accounts on the XM exchange
In addition to the XM real account, XM also offers customers a demo account for practice. Also, test XM’s trading platforms. XM demo accounts have the following differences compared to real account types as follows:
- The demo account has no usage time limit.
- Demo accounts do not require identity verification or deposits. Traders just need to register with your email.
- The demo account is given some virtual money for trading. Traders can choose from 1000 USD to 5 million USD.
- The XM demo login account is traded in a simulated environment. Does not represent all actual market conditions.
Instructions for opening an XM real account
To open an XM account. You can follow the instructions as follows.
Open an XM account on the web
Step 1: To open an account, visit the XM homepage: https://www.xm.com/
Register with your email and create a password for your account.
Step 2: Log in with the email address and password you just registered.
Step 3: Choose to open an XM account to continue registration.
Step 4: Provide information for the account profile
Step 5: Choose a suitable account and trading platform
Step 6: Start verifying registration. Traders can verify with identification documents such as ID or passport.
After successfully uploading the file, you just need to wait within 24 hours for the exchange to complete verification. You can then fund your account to start trading.
>>>See more: How to XM broker login: Simple steps to start trading
Open a real account on the XM market by phone
If you want to open a real account on XM market by phone. You can do the following.
Step 1: Download the XM trading app for Android or iOS phones from the Google Play Store or App Store.
Step 2: Open the application and click the “Create an Account” button on the welcome screen to start opening an account.
Step 3: Start registering an account with email and password.
Step 4: Check your mailbox and enter your email address.
Step 5: Log in with the account you just registered.
Step 6: Complete the account profile.
Step 7: Choose a trading platform and account type
Step 8: Start verifying your account.
Similar to the web version. Verification will be completed by the exchange within 24 working hours.
>>>See more: Explore the XM Demo account: The first step in trading
Features of XM real account
XM accounts have many outstanding features, making the difference and advantage of XM compared to other exchanges. Below are some features of the XM account that you need to know.
Regulations when trading real accounts on the XM market
When you trade, there are a few things that traders need to keep in mind:
- You need to have enough balance in your account to maintain your trading position. If your balance is lower than the required level, you will be subject to a margin call and may have your order closed (stop out) if you cannot replenish funds in time.
- You need to accept the risk of trading with high leverage. Leverage is the ratio between the amount you can trade and the amount you have in your account. For example, if you have 1000 USD in your account and use 100:1 leverage, you can trade up to 100,000 USD. However, leverage can also increase your profits or losses.
- You need to comply with XM’s trading rules and conditions, including spread requirements, commissions, swaps, slippage, pip values, and trading limits. You can see detailed MForex rules and conditions here.
These features are only supported on real XM accounts
In addition to the general characteristics of XM real account. XM also offers customers several exclusive features that are only supported on real XM accounts. These are features that you will not be able to experience on a demo account. These features include:
XM Loyalty Program
This is XM’s loyalty rewards program, allowing you to accumulate XM points (XMP) when trading with your XM real account. You can exchange XMP for cash or other rewards such as deposit bonuses, free VPS, or spread discounts. You can also upgrade your membership level to receive more XMP when trading.
XM VPS
This is a private virtual server service for XM customers, allowing you to run automated trading programs (Expert Advisors) without the need for your computer to always be connected to the internet. XM VPS is high-speed, stable, and secure, helping you optimize your trading efficiency. XM VPS is available free of charge to customers with a minimum balance of 5000 USD or equivalent or can be rented for 28 USD per month.
XM Webinars
These are online sessions on topics related to forex and CFD trading, taught by leading XM experts. XM Webinars are held regularly, are free, and are suitable for all levels of experience. You can register for the sessions that interest you and learn knowledge, skills, and trading strategies from XM experts.
Things that traders need to keep in mind when trading with XM real account
Trading with an XM account brings many opportunities and benefits to traders, but also requires traders to be carefully prepared and proactive. Here are some things that traders need to keep in mind when trading with an XM account:
- You need to have a clear trading strategy that suits your goals, abilities, and trading style. In addition, traders also need to have an effective risk management plan.
- Traders need to regularly monitor important news, events, and economic indicators that affect market fluctuations.
- You need to carefully check XM’s trading conditions, including spread requirements, commissions, swaps, slippage, pip values, and trading limits. You also need to know your rights and obligations when dealing with XM.
- Traders need to take advantage of XM’s features and support services, such as the XM Loyalty Program, XM VPS, XM Webinars, and customer care teams.
So the article on MForex has helped you learn detailed information about XM real account. Features, outstanding features, and how to deposit money into this type of account. Hopefully, this can help traders choose the most suitable and optimal account type for themselves. Thereby, you can maximize profits when trading in the market.
FAQ
What is an XM real account?
XM real account is an account type that allows you to trade with real money on the XM platform.
Types of real accounts on XM?
XM offers customers 4 different types of XM accounts. Including Ultra Low, Zero Account, Standard Account, and Micro accounts.
Which features are only supported on the XM real account?
Some exclusive features are only supported on XM real account. These include the XM Loyalty Program, XM VPS, and XM Webinars.
