XM Account Types

XM offers a diverse range of account types tailored to meet the needs of various traders. The available accounts include:

• Micro Account:
• Best For: Beginners.
• Minimum Deposit: $5.
• Leverage: Up to 30:1 (ASIC, CySEC) and up to 1000:1 (FSA).
• Trading Fees: Only spreads are charged (no commissions), with variable spreads starting from 1 pips.
• Trading Platforms: MT4 and MT5.
• Standard Account:
• Best For: Retail traders.
• Minimum Deposit: $5.
• Leverage: Up to 30:1 (ASIC, CySEC) and up to 1000:1 (FSA).
• Trading Fees: Only spreads are charged (no commissions), with variable spreads starting from 1 pips.
• Trading Platforms: MT4 and MT5.
• Ultra Low Account:
• Best For: Traders seeking lower spreads.
• Minimum Deposit: $5.
• Leverage: Up to 30:1 (ASIC, CySEC) and up to 1000:1 (FSA).
• Trading Fees: Only spreads are charged (no commissions), with variable spreads starting from 0.6 pips.
• Trading Platforms: MT4 and MT5.
• Shares Account:
• Best For: Stock investors.
• Minimum Deposit: $10,000.
• Leverage: Not available (full investment required).
• Trading Fees: Only spreads are charged (commissions apply).
• Trading Platforms: MT4 and MT5.
• Islamic Account:
• Best For: Traders requiring swap-free accounts.
• Minimum Deposit: $5 for Micro and Standard, $10,000 for Shares.
• Leverage: Up to 30:1 (ASIC, CySEC) and up to 1000:1 (FSA).
• Trading Fees: Only spreads are charged (no commissions).

XM Broker Account Opening Process

Opening an account with XM is a straightforward process. Heres how to do it:

• Registration:
• Click on the ‘Get Started’ button on the XM homepage.
• Enter your personal details, including your email and password.
• Verify your email by clicking the link sent to your email address.
• Account Type Selection:
• Choose your preferred account type (Micro, Standard, Ultra Low, Shares, or Islamic).
• Select your trading platform (MT4 or MT5).
• Complete Personal Information:
• Fill in your personal details, including your name, birthdate, and address.
• Provide financial information and answer questions related to your trading experience.
• Document Verification:
• Upload documents for proof of identity (e.g., passport, national ID) and proof of residence (e.g., utility bill).
• This process typically takes about 8-10 minutes.
• Fund Your Account:
• Make a minimum deposit of $5 (or $10,000 for Shares Account) using various payment methods.
• Start Trading:
• Once your account is verified and funded, you can start trading on the XM platform.