XM broker Accounts

XM Account Type

XM offers several distinct trading account types to cater to a variety of traders, including:

1. Micro Account:

• Minimum Deposit: $5
• Contract Size: 1 micro lot = 1,000 units of the base currency
• Leverage: Up to 1:888
• Spread: Starts from 1 pip
• Minimum Trade Volume: 0.1 lots
• Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR

2. Standard Account:

• Minimum Deposit: $5
• Contract Size: 1 standard lot = 100,000 units of the base currency
• Leverage: Up to 1:888
• Spread: Starts from 1 pip
• Minimum Trade Volume: 0.01 lots
• Base Currency Options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR

3. Ultra Low Account:

• Minimum Deposit: $5
• Contract Size: 1 standard lot = 100,000 units or 1 micro lot = 1,000 units
• Leverage: Up to 1:888
• Spread: Starts from 0.6 pips
• Minimum Trade Volume: 0.01 lots
• Base Currency Options: EUR, USD, GBP, AUD, ZAR, SGD

4. Shares Account:

• Minimum Deposit: $10,000
• Contract Size: 1 share
• Leverage: No leverage provided
• Spread: Depends on the underlying exchange
• Minimum Trade Volume: 1 lot
• Base Currency Options: USD

These account types are designed to meet the needs of both beginner and experienced traders, allowing for flexibility in trading strategies and risk management.

XM Broker Account Opening Process

Opening an account with XM is a straightforward process that can be completed in just a few steps:

1. Visit the XM Website: Go to the official XM website and click on the “Open an Account” button.

2. Choose Your Account Type: Select from the available account types (Micro, Standard, Ultra Low, or Shares) and the trading platform (MT4 or MT5).

3. Fill Out the Registration Form: Provide personal details such as your name, email address, country of residence, and preferred language.

4. Verify Your Email: After completing the registration form, you will receive an email to confirm your email address. Click the link in the email to activate your account.

5. Upload Required Documents: To validate your account, upload a color copy of a valid identification document (passport or driver’s license) and a recent utility bill or bank statement for proof of address.

6. Fund Your Account: Once your account is verified, you can fund it using various payment methods such as bank transfers, credit/debit cards, or e-wallets.

7. Start Trading: After funding your account, download the trading platform and start trading.