XM Demo Account – Opening Process, Charges, Features, Benefits & more
Beginners who wish to enter the forex market efficiently must use the XM Demo Account.
Avail for a demo account before a live trading account so you get to know the market behavior and its aspects.
The further thing of concern is how it contributes to your trading experience and makes you efficient.
Everything combined gives you the idea behind offering a demo account. This article briefs on all such things.
About XM Demo Account
As the name denotes, the XM demo account is indeed a virtual account, which requires no real funds.
So basically, you can avail of a full functioning account at no fees, and learn all the facets of trading in the forex market.
The broker basically provides simulated money in this account, i.e. dummy money, through which you can have an actual trading experience.
This also limits the risk in accordance with losing real money being a beginner.
You can use dummy money to learn how the XM Virtual Trading platform works, how to place trade orders, and more.
With the XM Demo account, you may as well put your trading strategies into use.
You get access to all the XM Virtual Trading mediums in consideration with the demo account.
Open Demo Account Now! – Zero Commission on Trades
XM Demo Account Features
Now since you know the basics of the demo account, and the idea behind its availability, let us discuss the features in dept.
These features will let you know what all activities can you have undertaken via a trading account.
The demo account is the replica of a trading account, and hence all the features are similar with a slight difference in the type of funds.
- Demo account contains dummy money to let you trade in the forex market and learn how to trade actively.
- The general expectancy options such as market monitoring, order placement, and other aspects are part and parcel of the XM Demo account.
- Market analysis tools and other aspects are as well a part of the account, and this makes learning easier.
- Tools and research analysis items are all embedded in the XM Demo account for you to try and learn.
- There is also facilitation of multiple order placement and other similar options.
- Indicators are as well a major part of the demo account. You will be able to learn a lot from the same before you get your hands on the live trading account.
XM Demo Account Charges
|Demo Account Details|
|Virtual Money||$ 5000|
Charges are not a part of a demo account as are the features and advantages. So, basically, there are a bunch of charges you need to watch out for in the trading account.
You must watch out for the charges because you need to ensure there is a high probability of gains, even after charges.
Trading account charges comprise minimum charges, account funding charges, commission, swap fee, spread charge, and more.
This is not the case for a demo account as it is offered for free when you avail for it.
As per the terms of an XM Demo account, you get around $5000 to trade in the market. Their charges in connection with the same account are zero.
You can basically use everything in the Demo account and place orders as well, without paying a dime for it.
How to open XM Demo Account?
The process in which you can open an XM Demo account is simple and we provide you the opportunity to open an account right from this page.
All you need to do is, follow up with the steps as mentioned in the following pointers. Check the entire step-by-step process of opening a demo account.
- Locate a button on this page, which reads “Open Demo Account”, it is provided at the bottom of the page.
- You must click on the button to get the process of account opening started. Click on the button and fill in the pop-up form which follows up.
- Submit the filled-in pop-up form as it appears on your device screen. The company will then reach out to you and get connected with you instantly.
- You must then go through the EKYC process, which is a must to avail for the demo account. The broker will ask you to provide proof of identity and residence in this step.
- Provide the proofs and ID card details as asked and you would be good to go.
- Lastly, when the company approves your identity, it will verify your account and release it to you.
- You will receive your account login credentials and confirmation of account opening.
- Use the credentials to get access to the XM Virtual Trading Platform, and start your trading journey in Forex.
Advantages of XM Virtual Trading Platform
Before you get yourself into actual trading with the facilitation of a live account, you must try the demo account for sure.
- Beginners will get an idea of how to get started rather than being puzzled and scared of losing their money.
- You can get hold of the multiple concepts of the forex market and forex trading, which would be new to you in case you are a beginner.
- Indicators and charts are provided in the demo account as well, so you can learn them all.
- Risk is almost non-existent here as you are not using real money.
- You get experience of a real trading account and real forex market.
- Demo account gives access to XM Virtual Trading and its platforms.
- You can check the efficiency of your trading strategies via a demo account.
XM Demo Account – Conclusion
Now that you know what an XM Demo account is in detail, you can get started with the same fearlessly.
Incurring no losses at all, you can use the demo account to earn a lot more about the live trading account and the forex market.
Start with your trading journey in the forex market via the demo account. When you get a hold of the account and the market, you can commence with live trading
XM Virtual Trading Platform – FAQs
Here are various FAQs on XM Virtual Trading Platform –
Does XM provide Demo a/c?
Yes, you can seamlessly avail of a demo account with XM at absolutely no charge everything about the account is great and it provides the same at no charges at all.
You get the experience of a live trading account having a demo account.
How to Set up XM Virtual Trading Account?
The process is absolutely seamless. You can open a demo account with the company following the demo account registration process.
The company will provide you with log-in credentials which in turn gives you access to all the trading platforms. You can then get started with trading.
Is XM Demo Free?
Yes, the XM Demo account is absolutely free with no additional charge at all. There is no account opening fee, no minimum balance fee, no fund transfer fee, and also no spread fee.
You can actively trade using your dummy balance without paying any actual money.
What are the fees of the XM Demo Account?
There is no fee associated with the demo account whatsoever. You can open an account for free with the stockbroker and also opt for active trading with the dummy account balance you get.
You can have a fully-fledged trading experience at zero charges.
Is AMC levied on XM Virtual Trading Platform?
No AMC or account maintenance charge is part of the demo account. You do not need to pay a demo account opening charge and similarly, you do not even need to pay a charge for maintenance.
You can have all the experiences of trading account for free.
Is XM’s Demo Account best?
Yes, XM is indeed a reputed firm which has all the best of trading services. This broker is reputed and all of its offerings are indeed one of the best in the industry.
You can get started with them most seamlessly, and earn hefty returns with their assistance.
What Documents are required for XM Virtual Trading?
You must provide the ID proofs as and when required. You need to provide documents such as government ID proofs, which confirm your identity and residence.
This would give you instant access to a verified account and let you invest in an instance.
Is PAN required for Opening XM Trading Game?
Yes, this is indeed one of the essential documents which you need to provide to the broker at the time of availing for an account.
PAN Card serves as ID proof, and hence, when the broker asks for a confirmation, you can provide them with the PAN Card and verify yourself.
Does XM Charge Demo Account opening Fee?
No, there is no charge attached to the account opening process. You can avail of the demo account at zero charges and go through the forex market and learn all of its aspects.
You may as well learn the functionalities of the trading platforms for free.
How much Virtual Money do you get in XM Trading Game?
As per the insights provided by the broker XM, you will be entitled to $5000 in the demo account. You can use the account and learn everything about the forex market.
Use the money to place trades and learn how to transact and trade using a trading account.
Open Demo Account Now! – Zero Commission on Trades
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