XM Trading Account – Review, Types, Process, Benefits, Charges & more
Let us get you associated with the XM Trading account in this article. This is indeed your gateway of trading in the forex market via the forex broker XM.
This article basically features everything about the live trading account the Broker offers. You can avail for a demo account, or contrarily choose to go for a specific type of trading account.
Both the accounts have major of the aspects same, with a slight change in the way they work. The demo account is to learn the basics of the forex market and how the trading platforms work.
You basically get to trading in the market with virtual money, where you can put your strategies to work and test their efficiency, without the risk factor.
XM Trading Account and Benefits
XM Trading account or rather, the XM Live trading account is every Forex trading activity or facilitation you need.
The Forex Broker XM, let you invest in the forex market via the trading order, through which you can actively place both buy and sell orders.
Now, to suffice with the distinctive needs of the investors, the company offers multiple accounts you can choose from.
Each and every account has a different feature to it, which would be the best solution for a particular class of traders.
You can choose the account as per your expertise level as well. It is because the likely account unleashes the best of tool and analysis objects to facilitate your strategic investment.
Fill up the Form – Open Forex Trading Account Now!
Find Trading Account Services of other Forex Brokers
|Admiral Markets Trading Account||Avatrade Trading Account||Binary.com Trading Account|
|Alpari Trading Account||AXI Trading Account||Binarycent Trading Account|
|ATFX Trading Account||Ayondo Trading Account||Binomo Trading Account|
XM Trading Account Charges
|Trading Account Charges|
|Account Type||Micro Account||XM Zero Account|
|Spread||From 1 Pip||From 0 Pip|
|Commission||Zero||$3 per $100,000|
|Leverage||upto 30:1||upto 30:1|
Multiple trading charges are part of the trading account, and you need to closely monitor them all.
This is so, you can monitor the expenses in the overall front and then plan your trades according to that.
This would ensure that, no matter how many expenses you pay, you will make sufficient profits on the overall front.
Getting you started with the expenses, here is the entire list of charges you have to incur along the course.
It starts right from the minimum deposit required in each of the accounts, which yet varies. The commission is another charge which you will have to incur at the time of placing trade orders.
Furthermore, there is an obligation to spread payments which the trader has to pay. These charges are, however, pretty low to get started with.
The spread charge would also vary as per the different account types you hold. For further insights on the charges, refer to all the accounts and their respective charges.
Also, the broker is transparent and hence, it would include all the charges at the time you avail for the account.
Types of XM Account
|Types of Trading Account|
|Trading Desk Type||No dealing desk|
|Maximum Leverage||Upto 1:500|
|Suitable for beginners||Yes|
|Suitable for professionals||No|
|Suitable for scalping||Yes|
|Suitable for daily trading||No|
|Suitable for Weekly trading||No|
|Suitable for swing trading||No|
In this context, we provide you with information on the different types of XM Trading accounts. There are multiple accounts you can choose from, and they are provided below.
XM Forex Standard Account
The broker includes a lot of options and features for the Traders who choose the Standard Account.
Starting right with the base currency Options which are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.
With this massive choice of options, the contract size allowed for the account is 1 Lot = 100,000.
Leverage is as well a massive part of the Account, and you can make heavy returns using leverage and likely opportunities.
Further features of the account include Negative balance protection, no commission, Spreads as low as 1 pip on all major, up to 300 open positions, hedging, Minimum Deposit of 5$, and more.
XM Micro Account
Let us now get you accustomed to the facilitation of the micro account. Beginning with the base currency options, they are USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR.
Contract size on the other front is 1 lot = 1,000. Leverage is definitely facilitation, along with negative balance protection.
Likewise, there is a facilitation of spreads with as low as 1 pip on all majors. No outright commission is included in the account, and as many as 300 open positions are allowed.
The minimum trade volume is 0.1 lots for both MT4 and MT5 trading platforms. Hedging is allowed with the account and you need to maintain a minimum balance of 5$ in the account.
XM Ultra-Low Account
Here is yet another account you must check, to ensure you choose the right option.
So, beginning with the base currency options, they are EUR, USD, GBP, AUD, ZAR, SGD. Furthermore, there are two account options to this account, i.e. Standard Ultra and Micro Ultra.
Herein, the contract size for Standard Ultra is 1 Lot = 100,000 and that for Micro Ultra is 1 Lot = 1,000.
Further perks are Negative balance protection and no commission. As for the spread, it starts from 0.6 pips in all majors.
You can open as many as 300 positions, while the minimum deposit required is 50$. Hedging is indeed allowed with this account as well.
This account has different facets in comparison with the other type of accounts. As the name specifies, it is majorly to trade in shares along with certain currency options.
The base currency option of this account is only USD, while the contract size is 1 Share. Leverage is unfortunately not a part of this account, but the broker does provide negative balance protection.
The commission is taken by the broker in this account, while the spread would depend on the underlying exchange. You can open up to 50 positions at a time, while the minimum trade volume is 1 lot.
Hedging is not allowed in this account, while the minimum deposit requirement is 10,000$. Lot restriction per ticket however varies and depends on the share in concern.
Open XM Account & Trading Process
In order to avail of any account, you need to follow a specific pattern.
If you wonder, a trading process in any medium is the same, i.e. shares or forex and if you still need help, this section is your go-to place.
Let us begin with all the aspects of the online trading process, here is how it goes. Make sure you stick with the process, this will help you start investing instantly.
Open XM Trading Account
- Start with the process by acquiring a demo account with the broker. Herein, you have to click on the button “Open Demo Account”.
- Right when you click on the button, a pop-up form will instantly appear for you. Fill in the details and submit accordingly.
- When you submit, you have to go to the EKYC process for the next thing. The broker will get in touch with you, or you must fill in the forex account opening form.
- Submit all the necessary details to prove your identity and residence. When you are done with the process, the broker will approve your identity and open an account for you.
- Herein, you have to begin with using any of the online mediums to trade. So, you need to first choose which trading medium you wish to invest in. you must then get access to the platform and log into it.
- You can choose from the trading terminal, web-based trading, or the app. For the web, you can use any online browser, but for trading terminal and mobile application, you need to download the software and the app.
Download and set up
- Herein, you get to know how to download the app and the terminal. For the trading terminal, you need to download the software online. As for the application, you need to download the XM app from the respective app store of your mobile.
- This step is the same for the terminal and also the app, you need to login to the platforms, adhering to the credentials the company provided.
- For the next thing, we suggest you use your demo account and explore all the facets of the application and terminal. Check how to fund your account and also how to place different types of orders.
- Take notes of the investment instruments available with the broker and monitor them to construct investment ideas.
- Lastly, you can use your live trading account and place buy as well as sell orders.
Find Different Trading Account Types of Forex Brokers
|Bitmex Trading Account||Dukascopy Trading Account||FBS Trading Account|
|Degiro Trading Account||Easymarkets Trading Account||Finq.com Trading Account|
|Deriv.com Trading Account||eToro Trading Account||Forex.com Trading Account|
XM Trading Account – Features
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
So, let us now discuss the Features of the trading account XM provides. It is very important you know all about what you may or may not do via your trading account, including order placement.
Also, you need to know about the additional perks of the account, so you can avail of them at specific intervals.
Starting with the features, the broker offers an educational service that is of great help alongside a demo account.
This helps a trader get hold of the forex market and how to efficiently strategize them all.
Furthermore, there are other features provided with the XM Trading account such as Trading Signals, VPS services, and one-click trading.
Expert advisors are as well available with the company, whose job is to guide the traders.
Check out Online Trading Services of FOREX Brokers
|FP Markets Trading Account||FXPro Trading Account||HYCM Trading Account|
|Fusion Markets Trading Account||FXTM Trading Account||IC Markets Trading Account|
|FXOpen Trading Account||Go Markets Trading Account||iForex Trading Account|
XM Trading Account – Conclusion
Now that you have knowledge about everything related to XM Trading Account, you can make a likely investment decision.
You must compare the services and offerings of this broker with others, and choose the one which best suits your need.
XM Online Trading – FAQs
Here are important FAQs on XM Online Trading & Trading Account –
Does XM provide Online Trading?
Yes, XM provides the facility of online trading via its live trading account. Furthermore, the broker also provides a lot of trading platforms you can choose from.
You can trade in forex instruments either via the web-based platform or trading terminal or application.
What are the Commission Charges in XM?
If we speak in context with the demo account, it is free but there are charges for the live trading account.
So, if you have a live account, commission and spread charges are part of the parcel. This is however different for different accounts and hence, you need to check the account you avail.
Does XM provide Demo account Trading?
Yes, the forex broker XM does provide a demo account to get started with.
Via the XM Demo account, you can enter multiple trade orders without actually investing real money, and learn about all the aspects of the account.
Is trading Free at XM?
Charges in context with trading forex instruments via XM are multiple. You however need to know that the charges would be different for different accounts.
Basically, some of the crucial charges are minimum account balance, commission, Swap fee, Spread, and more.
Does XM provide Spot Metals Trading?
Yes, you can invest in metals via the trading account of XM. There is a list of precious metals in which traders can invest via the forex broker in general.
Also, there are other CFDs available for investment with XM, via its online platforms.
What are Spot Metals Trading Charges at XM?
Charge in context with trading in Precious metal CFDs is not fixed at any particular amount.
The charges range and change as per the type of trading account you hold. Check out the charges of trading in Metals for your specific account in general.
Does XM provide Stock Trading?
There is a special and distinctive account provided for the purpose of trading in stocks as well.
If you are determined to trade in both stocks and currencies, you can avail of the Stock Account which the company provides. Check all the aspects of it and then, invest accordingly.
What is Spread at XM?
Spread charges are not fixed as well; they basically vary on the basis of the account you hold.
So, you need to check out the spread charges of the accounts and then avail for an account. For basic accounts, the spread is as low as 1 pip, while for the Ultra-low account it is 0.6 pips.
Is XM safe for trading?
Yes, the forex broker is highly reliable as you can see, they have multiple registrations. The list of the forex broker regulations goes as ASIC, CySEC, DFSA, IFSC.
This makes them highly reliable, and also since they have a huge customer base already.
Does XM provide Trading Tips?
The company does provide a lot of expert assistance while investing in the forex instrument. This however is not the case for stock tips.
If you wish to invest in stocks with XM, you are on your own and have to research everything on your own.
Fill up the Form – Open Forex Trading Account Now!
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