Xm Demo Account Guide

XM offers a demo account, just like other forex trading companies, to give its clients a practice environment where no real money is at risk, a way to test the company’s services, and the other benefits a demo account brings. In this article we walk through opening a demo account with XM and cover the XM account types. You may also want to read about Forex Demo Account.

What Is a Demo Trading Account

A demo trading account is the first step for anyone starting out in financial-market trading, especially through trading apps, because it gives you a practice environment free of financial risk: if you lose on a demo account, you do not lose any real money.

How to Open an XM Demo Account

To open a forex demo account with XM, all you have to do is go to the new-account registration page from here, then fill in the required details, as shown in the image below.

1. First name
2. Last name
3. Country of residence
4. City
5. Phone number
6. Email address

Those were the personal details. Next come the account details:

1. Trading platform: you can choose between two platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5)
2. Account type: there are two demo account types, as we explain further down
3. Account currency
4. Leverage
5. Investment amount
6. The password you will use to log in to the account

After entering these details and agreeing to the company’s terms, click Register Now, then open your email inbox, where you will find a message with an activation link. Click it to activate the account and display your login details, as in the following image.

Once you have completed the details above, you will have opened a swap-free (Islamic) XM demo account — free of overnight interest — which also lets you practice trading cryptocurrencies.

Next, download the trading platform you picked during registration, whether MT5 or MT4 — here we chose MT5. You can download it from the links the company provides.

After downloading and installing the platform the usual way, like any program you install on your computer, enter the details you received from the company into the platform and the account will open.

XM Account Types

XM offers a varied range of trading accounts to suit all traders, so you can pick whichever fits you:

Micro Account

Its base account currencies are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.

Its lot size equals 1,000 units, it offers leverage of up to 1:888, no commission is charged on its trades, and its spread can at times reach 1 pip.

It allows multiple positions open at the same time — up to 300 trading positions — it is available on MT4 and MT5, and its minimum deposit is $5.

Standard Account

It offers the same base account currencies as the Micro account and carries the same leverage, but it differs in lot size, which equals 100,000 units.

XM Ultra Low Account

This account combines the advantages of the two previous accounts: its lot size can be 1,000 or 10,000 units, and it offers a lower spread than both, at times reaching 0.6 pips, but its minimum deposit is $50.

Shares Account

This account is for stocks. Its base currency is the US dollar, its contract size equals 1 share, and it has no leverage. There may also be restrictions on shares depending on each stock. Its minimum deposit equals $10,000.

Note: the demo account is only available as a Standard account or an XM Ultra Low account.

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