XMG broker Accounts

xmg Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

xmg Account Types Explained

xmg offers a variety of account types tailored to meet the diverse needs of traders, ranging from beginners to advanced professionals. Below are the primary account types available:

1. Standard Account

• Minimum Deposit: $5
• Spread/Commission Structure: Spreads start from 1 pip; no commission.
• Leverage Options: Up to 1:888.
• Key Features: Ideal for beginners and intermediate traders; access to a wide range of instruments.
• Target User Profile: Suitable for beginner to intermediate traders.
• Trading Instruments Available: Forex, CFDs on stocks, indices, commodities, and cryptocurrencies.

2. Micro Account

• Minimum Deposit: $5
• Spread/Commission Structure: Spreads start from 1 pip; no commission.
• Leverage Options: Up to 1:888.
• Key Features: Allows trading with smaller lot sizes (1 micro lot = 1,000 units), making it perfect for new traders.
• Target User Profile: Best for beginners who want to start with minimal capital.
• Trading Instruments Available: Similar to the Standard Account.

3. Ultra Low Account

• Minimum Deposit: $5
• Spread/Commission Structure: Spreads start from 0.6 pips; no commission.
• Leverage Options: Up to 1:1000.
• Key Features: Designed for traders who prefer lower spreads and are engaged in high-frequency trading.
• Target User Profile: Advanced traders and scalpers.
• Trading Instruments Available: Forex and CFDs.

4. Zero Account

• Minimum Deposit: $5
• Spread/Commission Structure: Spreads start from 0 pips; commission of $3.50 per side for standard lots.
• Leverage Options: Up to 1:888.
• Key Features: Ideal for professional traders who require tight spreads and are comfortable with commission-based trading.
• Target User Profile: Professional traders and scalpers.
• Trading Instruments Available: Forex and CFDs.

5. Islamic Account

• Minimum Deposit: $5
• Spread/Commission Structure: Similar to the Standard, Micro, Ultra Low, or Zero accounts, but swap-free.
• Leverage Options: Up to 1:888.
• Key Features: Designed for traders who adhere to Islamic finance principles.
• Target User Profile: Muslim traders seeking compliance with Sharia law.
• Trading Instruments Available: Similar to other account types.

Account Type Comparison Table

Detailed xmg Account Features

Minimum Deposit

• All account types require a minimum deposit of $5, making it accessible for new traders.

Maximum Leverage

• Leverage options vary by account type, with a maximum of up to 1:1000 available for the Ultra Low account.

Spreads

• The Standard and Micro accounts have spreads starting from 1 pip, while the Ultra Low account offers tighter spreads starting from 0.6 pips. The Zero account features spreads starting from 0 pips, but with a commission.

Commission Fees

• Standard, Micro, and Ultra Low accounts do not charge commissions, while the Zero account has a commission of $3.50 per side for standard lots.

Lot Size

• The Micro account allows trading in micro lots (1,000 units), while the Standard and Ultra Low accounts allow standard lots (100,000 units).

Available Trading Platforms

• xmg supports both MT4 and MT5 platforms for all account types, providing flexibility for traders.

Execution Type

• All accounts generally offer market execution, ensuring trades are filled at the best available prices.

Islamic Account Availability

• All account types can be converted to Islamic accounts upon request, ensuring compliance with Sharia law.

Demo Account Features

• xmg offers demo accounts for all account types, allowing traders to practice without financial risk.

Advantages and Disadvantages of Each Account Type

Standard Account

• Advantages:
• Low minimum deposit.
• No commission fees.
• Access to a wide range of instruments.
• Disadvantages:
• Higher spreads compared to Ultra Low and Zero accounts.

Micro Account

• Advantages:
• Ideal for beginners.
• Low risk due to small lot sizes.
• No commission fees.
• Disadvantages:
• Limited to smaller trades.

Ultra Low Account

• Advantages:
• Tight spreads for cost-effective trading.
• No commission fees.
• Disadvantages:
• May not suit traders who prefer fixed commissions.

Zero Account

• Advantages:
• Extremely low spreads.
• Ideal for high-frequency trading.
• Disadvantages:
• Commission fees may add to trading costs.

Islamic Account

• Advantages:
• Complies with Islamic finance principles.
• Available for all account types.
• Disadvantages:
• May have restrictions on certain trading strategies.

xmg Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: Available in most countries, but specific regions may be prohibited (check local regulations).
• Prohibited Countries: Countries under international sanctions may not be eligible.

Identity Verification Documents Needed

• A valid government-issued ID (passport or national ID).
• Proof of residence (utility bill or bank statement not older than three months).

KYC/AML Compliance Procedures

• All clients must complete Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance checks.

Verification Time Frames

• Account verification typically takes 1-3 business days, depending on the completeness of the submitted documents.

xmg Account Opening Process

Step-by-Step xmg Account Opening Guide

1. Visit the Website and Click Registration:

• Go to the official xmg website and click on "Open an Account."

1. Personal Information Entry:

• Fill in your personal details, including name, email, and phone number.

1. Choose Account Type:

• Select the account type that best fits your trading style.

1. Set Trading Preferences:

• Choose your preferred trading platform (MT4 or MT5) and leverage options.

1. Document Upload:

• Upload the required identity verification documents.

1. Account Verification:

• Wait for the verification process to complete.

1. Fund Your Account:

• Deposit funds into your trading account using one of the available payment methods.

1. Start Trading:

• Once your account is funded, you can begin trading.

Desktop vs Mobile Registration Differences

• The registration process is similar on both desktop and mobile platforms, with the mobile app providing a more streamlined experience.

Common Registration Issues and Solutions

• Ensure all personal information matches your identification documents to avoid delays.
• If documents are not accepted, check for clarity and completeness.

Average Account Approval Time

• Most accounts are approved within 1-3 business days, depending on document verification.

How to Upgrade/Downgrade Account Types

• Users can request to change their account type through the account management section on the xmg website.

xmg Demo Account Guide

Demo Account Features and Benefits

• The demo account allows traders to practice trading strategies without any financial risk.

How to Open a Demo Account

• A demo account can be opened during the registration process or from the account management section after registration.

Demo Account Limitations

• Demo accounts typically have a limited virtual balance and may expire after a set period.

Virtual Balance Amount

• The virtual balance amount varies; users can usually select their starting balance.

Demo vs Live Account Differences

• Demo accounts simulate trading conditions without real money, while live accounts involve actual capital and risk.

Duration/Expiry of Demo Accounts

• Demo accounts usually remain active for a specified period, often 30 days, but can be extended by contacting customer support.

xmg Islamic Account Details

Swap-Free/Islamic Account Availability

• xmg offers swap-free accounts for all account types to comply with Islamic finance principles.

Eligibility Requirements

• Traders must request an Islamic account and may need to provide additional documentation.

Differences from Standard Accounts

• Islamic accounts do not incur swap fees, but may have other trading conditions.

How to Apply for Islamic Account

• Traders can apply for an Islamic account during the registration process or by contacting customer support.

Restrictions or Special Conditions

• Islamic accounts may have specific trading conditions, such as limitations on certain instruments or strategies.

FAQs – xmg Account Types & Opening

1. What account types does xmg offer？

• xmg offers Standard, Micro, Ultra Low, Zero, and Islamic accounts.

1. What is the minimum deposit for each account type？

• The minimum deposit for all account types is $5.

1. How long does xmg account verification take？

• Verification typically takes 1-3 business days.

1. Does xmg offer demo accounts？

• Yes, xmg provides demo accounts for all account types.

1. Can I have multiple account types with xmg？

• Yes, traders can open multiple accounts with different types.

1. Does xmg offer Islamic/swap-free accounts？

• Yes, xmg offers swap-free accounts for all account types.

1. What documents do I need to open a xmg account？

• A valid ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can request to change your account type through the account management section.