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XM Trade broker Accounts
XM Account Types
XM offers several distinct account types tailored to meet the needs of different traders. The available account types include:
- Micro Account:
- Minimum Deposit: $5
- Contract Size: 1 lot = 1,000 units
- Maximum Leverage: Up to 1:888
- Spreads: From 1 pip
- Negative Balance Protection: Yes
- Standard Account:
- Minimum Deposit: $5
- Contract Size: 1 lot = 100,000 units
- Maximum Leverage: Up to 1:888
- Spreads: From 1 pip
- Negative Balance Protection: Yes
- Ultra Low Account:
- Minimum Deposit: $5
- Contract Size: 1 lot = 100,000 units (standard) or 1,000 units (micro)
- Maximum Leverage: Up to 1:888
- Spreads: From 0.6 pips
- Negative Balance Protection: Yes
- Shares Account:
- Minimum Deposit: $10,000
- Contract Size: 1 share
- Leverage: No leverage provided
- Spread: Depends on the underlying exchange
- Negative Balance Protection: Yes
- Demo Account:
- Allows traders to practice with virtual funds.
- Available for all account types.
- No risk involved as it simulates real trading conditions.
Visit the XM Website: Go to the official XM website and click on the "Open an Account" button.
Fill in Basic Details: Enter your personal information, including your first name, last name, country of residence, preferred language, phone number, and email address.
Choose Your Account Type: Select the account type that best suits your trading needs (Micro, Standard, Ultra Low, or Shares).
Complete the Registration Form: Fill out additional details such as your date of birth, residential address, trading preferences, and investment knowledge.
Create a Password: Set a strong password to secure your account.
Email Confirmation: After submitting the registration form, check your email for a confirmation link and click it to verify your email address.
Account Verification: Log in to your XM account and upload required identification documents (proof of identity and proof of address) for verification.
Fund Your Account: Once your account is verified, you can deposit funds using various payment methods.
Start Trading: After funding your account, download the trading platform (MT4 or MT5) and start trading.
XM Broker Account Opening Process
Opening an account with XM is a straightforward process that can be completed in just a few minutes. Heres how to do it:
For more details, you can refer to the following sources:
