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XM accounts

The account opening at XM is hassle-free and straightforward. You can start using your account the same day you open it. You can choose from many types of accounts, depending on your trading strategy and the country where you register from. The account opening is fast, fully digital, and requires a low minimum deposit amount.

 

TABLE OF CONTENTS

1. Account types 2. Minimum deposit 3. Countries served

4. How to open your account 5. How to login 6. Bonus at XM

7. How to delete your account

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74.89% of retail CFD accounts lose money

Account types

 

XM offers many account types, which differ in pricing, base currencies and contract size.

XM account types
  Micro Standard XM Zero XM Ultra Low Shares Account
Client country EEA
Australia
Other countries
EEA
Australia
Other countries
EEA Australia
Other countries 
Non-EEA and non-Australian clients
Pricing No commission, but wider spread No commission, but wider spread There is a commission and the spread is very low No commission and the spread is low  Market spread and commission
Base currencies USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR EUR, USD, JPY EUR, USD, GBP, AUD, ZAR, SGD USD
Minimum deposit $5 $5 $5 $5 $5
Contract size 1 Lot = 1,000 1 Lot = 100,000 1 Lot = 100,000 Standard Ultra: 1 Lot = 100,000 Micro Ultra: 1 Lot = 1,000 1 share

 

Islamic or swap-free accounts are also available. With Islamic accounts, a flat commission is charged if you hold your leveraged position overnight instead of the customary percentage-based financing rates.

XM doesn't offer corporate accounts. If you sign up at a non-European entity, you will not be eligible for European client protection.

XM also offers a demo account where you can practice without financial risk.

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What is the minimum deposit at XM?

 

The minimum deposit means that you will first need to transfer this amount to your brokerage account from your bank account in order to start trading. The required XM minimum deposit is $5 for all accounty types.

Minimum amount to open an account at XM vs its competitors
  XM FX Pro FXTM
Minimum deposit $5 $100 $50

 

Countries available                     

 

XM  accepts customers from all over the world. There are a few exceptions including the USA, Canada, China, Japan, New Zealand, and Israel.

 

How to open your account

 

The XM  account opening is fully digital, fast, and straightforward. You can fill out the online application form in 20 minutes. Our account was verified on the same day.

You can select from many languages besides English:

XM account open languages
Arabic Bengali Chinese Czech Dutch
Filipino French German Greek Hungarian
Indonesian Italian Korean Malay Polish
Portuguese Russian Spanish Swedish Thai
Vietnamese        

To open an account at XM, follow these steps:

  1. Enter your name, country of residence, email address, and telephone number.

  2. Select the trading platform (MT4 or MT5) and account type.

  3. Add your personal information, such as your date of birth and address.

  4. Select the base currency and the size of the leverage.

  5. Provide your financial information and answer questions about your financial knowledge.

  6. Verify your identity and residency. You can upload a copy of your national ID, passport or driver's license to verify your identity, while utility bills and bank statements are accepted as proof of residency.

XM account - Account opening

 

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How to login

 

When you log in for the first time, follow these steps on the https://my.xm.com/member/login main client protal:

  • Register your account with XM

  • Activate the account

  • Type in your MT4 or MT5 ID

  • Type in your password

  • Hit LOGIN

 

Bonus at XM

 

XM occasionally offers bonuses to its clients, however, there were no active campaigns at the time of writing.
Earlier bonus schemes offered: XM deposit bonus 50%, XM deposit bonus 100%, XM no deposit trading bonus $30.

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How to delete your account

 

  1. Close all your open positions at XM

  2. Make sure that there are no remaining funds or negative balance on your account

  3. Send an email to [email protected] with the subject line: REQUEST TO DELETE MY XM ACCOUNT

  4. Specifying your reasons for closing the account is optional

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74.89% of retail CFD accounts lose money

-> Back to full XM review 2022

Further reading:

 

Author of this article

Márton Oláh

Author of this article

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

Márton Oláh

Strategic Advisor

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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