XM Account Type

XM offers a variety of account types tailored to different trading needs, including Standard, Micro, and Premium accounts. The Standard account requires a minimum deposit of $5 and provides access to over 55 currency pairs with leverage up to 1:30. For traders seeking lower risk, the Micro account allows trading in smaller lots, making it suitable for beginners. The Premium account caters to high-volume traders, offering enhanced trading conditions and personalized services.

XM Broker Account Opening Process

To open an account with XM, follow these steps:

• Choose Your Account Type: Select between Standard, Micro, or Premium accounts based on your trading style and capital.

• Complete the Application: Fill out the online application form with your personal information, including your name, email, and phone number.

• Submit Identification Documents: Upload necessary documents for verification, such as a valid ID (passport or driver's license) and proof of residence (utility bill or bank statement).

• Fund Your Account: After your application is approved, deposit funds using various payment methods like bank transfer or credit card. The minimum deposit varies by account type.

• Download Trading Platform: Choose your preferred trading platform (MT4 or MT5) and install it on your device.

• Practice with a Demo Account: Before trading live, consider using a demo account to familiarize yourself with the platform and test your strategies.

• Start Live Trading: Once ready, log in to your account and begin trading in the forex market. Monitor your trades and manage your risk effectively.

For more detailed information, you can visit the XM website.