XM Trading Account – XM is a Cyprus-based retail forex broker operated and governed by Trading point financial Institutions since 2009. This broker is popular among traders just because of its several trading accounts. No matter what type of trader you are, they offer a Micro Trading account to a Shares Trading account for advanced level traders.
In this article, we will explore its different trading accounts, its features, and some pros and cons. So let’s get started.
XM Introduction
XM is a Dealing Desk retail forex broker operated by Trading Point and based in Cyprus. From the beginning of its journey to 2009, this broker offers its trading services to over 196+ countries and they have a well-reputed customer support team who can give assistance in over 30+ different languages.
At the beginning of its establishment, this broker is gradually more popular amount traders for its trading services.
XM is currently built of more than 450 professionals with long-year experience in the financial industry. Their extensive experience combined with support for well over 30 languages, makes XM the broker of choice for traders of all levels, anywhere.
They have the expertise and the resources to help everybody realize their investment goals like only a big broker can. So let’s dive in dipper to explore its different trading accounts.
Also, XM is one of the very few brokers who actually work for their clients to enhance their trading knowledge and guide them. They often launch different seminars across different languages and these online meetups or training are really helpful for beginners at least. You can join their live training session free. You can find their training schedule here – XM Live Education.
XM Trading Account
XM Broker offers mainly 4 types of Trading Account for different types of Traders. If you are a newbie or professional does not matter because they have covered you with their trading facilities.
Their offered trading account is segmented into 4 different categories.
- Micro Trading Account;
- Standard Trading Account;
- Ultra-Low Trading Account and;
- Shares Trading Account
You may wonder what account type is ideal for you? Well, you will explore the answer at the end of this article. Here is a quick summary –
Micro Trading Account: For those who are interested to start their Forex journey and do not want to start with a larger amount of funds, this type of trading account is ideal for them. Only $5 is required to start your trading carrier.
Standard Trading Account: For those who have a moderate level of trading experience, this trading account is for them. With just $5 you can start trading in this account and get excellent features such as different promos and bonuses, lower spread, Commission-free trading, and Swap Free trading.
Ultra-Low Trading Account: For those who are really forex-oriented and professional level traders, this account is mainly for them. The main advantage of this account is lower spread. This trading account is mainly for scalpers who trade frequently on a daily basis. If you are interested in this trading account then you need to deposit at least $50 as an initial investment.
Shares Trading Account: For institutional traders like bigger investors and want to start their business based on a Different Stock Market then this account is for you. At least $10,000 is required to start trading in this account type.
So far, we have gathered some basic ideas of such trading accounts and now it is time to dig deeper.
XM Micro Trading Account
This account is mainly for beginners or newbies. If you are planning to start your real trading journey and want to switch from Demo trading to Real trading then the XM Micro Trading account is ideal for you.
As per its name, the main difference is its lot. As you have already known, the lot is a contract size that you need to use while placing any entries. In general, 1 Standard lot equals 100,000 units. But in Micro, 1 lot equals 1000 units.
If we make it easier and simple, If you take 1 Lot entry in a standard trading account then per pips value is equal to $10. On the other hand, the Micro Trading account’s 1 lot is equal to 10Cents. So, your profit or loss will be significantly lower than the standard lot account.
This feature is mainly beneficial for beginners as they do not often use larger investments and start a test drive in the real market. Here is e quick overview of this trading account.
| Base Currency | EUR, USD, GBP, AUD, ZAR, SGD |
| Contract Size | 1 Lot = 1,000 |
| Leverage | 1:1 to 1:888 |
| Spread on all majors | As Low as 1 Pip |
| Maximum open/pending orders | 300 Positions |
| Minimum trade volume | 0.1 Lots (MT4) 0.1 Lots (MT5) |
| Lot restriction | 100 Lots |
| Minimum Deposit | $5 |
Pros:
- Lower required deposit.
- As lot size is lower so Profit or Loss will be dramatically low.
- Spread is low as starts from 1 pip only.
- No additional restrictions.
- Profit or Loss is relatively low compared to other account types so, you can spend time building your trading strategies rather than thinking of price movement.
Cons:
- As lot size is low, in some cases it does not meet traders’ expectation of returns.
- Several Trading instruments are not available for trading.
- Not suitable for Scalping Trading.
- Not suitable for larger investments.
XM Standard Trading Account
This account is mainly for those who have a moderate level of trading experience or thinking about switching their broker. XM is really good for trading services and they are transparent enough to deal with them. So, if you want to trade with a regulated and professional broker then this trading account is for you.
As per its name, you can trade with this account as per forex standards. Its contract size is 100,000 units that you can be familiar with other broker trading accounts. So, you may ask why do I need to switch my existing account to this trading account?
Well, to be honest, XM Standard Trading Account offers the best deal that you may not find anywhere else. From low spread to Commission Free trading, this trading account got you covered with some extra benefits that you deserve as professionals. Here is e quick overview of this trading account.
| Base Currency | EUR, USD, GBP, AUD, ZAR, SGD |
| Contract Size | 1 Lot = 100,000 |
| Leverage | 1:1 to 1:888 |
| Spread on all majors | As Low as 1 Pip |
| Maximum open/pending orders | 300 Positions |
| Minimum trade volume | 0.01 Lots |
| Lot restriction | 50 Lots |
| Minimum Deposit | $5 |
Pros:
- Lower required deposit.
- Leverage Restrictions are low so that you can use them as per your trading strategies.
- Lower Spread. Starts from 1 pip
- No additional restrictions.
- Free Technical Analysis and Forecast that will help to take any position.
- Commission Free Trading
- Swap or Islamic Trading Facilities.
Cons:
- Several Trading instruments are not available for trading such as Stocks.
XM Ultra-Low Trading Account
XM Ultra-Low Trading account formerly known as Zero account is offered specially for Scalpers. The main advantage of this trading account is its spread is relatively low compared to other available trading accounts. Here is a quick snapshot of the Ultra-Low Account
| Base Currency | EUR, USD, GBP, AUD, ZAR, SGD |
| Contract Size | standard Ultra: 1 Lot = 100,000 |
| Leverage | 1:1 to 1:888 |
| Spread on all majors | As Low as 0.6 Pips |
| Maximum open/pending orders | 300 Positions |
| Minimum trade volume | Standard Ultra: 0.01 Lots Micro Ultra: 0.1 Lots |
| Lot restriction | Standard Ultra: 50 Lots Micro Ultra: 100 Lots |
| Minimum Deposit | 50$ |
Pros:
- Lower required deposit.
- Leverage Restrictions are low so that you can use them as per your trading strategies.
- Lower Spread. Starts from 0.6 pip
- Specially designed for scalpers.
- No additional restrictions.
- Free Technical Analysis and Forecast that will help to take any position.
- Commission Free Trading
- Swap or Islamic Trading Facilities.
How to Register an account?
The process is very easy and simple. Please visit the broker’s official Website – www.xm.com and please follow the onscreen instructions. If you face any difficulties then we have already discussed the detailed account registration process. Please refer to this XM Registration article.
If you have already registered then please login into your client cabinet and you can register any Trading Account from your Dashboard with a few simple clicks.
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