How many Trading Account Types in XM

How many Trading Account Types in XM


XM Trading Account Types

XM offers 4 traidng account type:
  • MICRO: 1 micro lot is 1,000 units of the base currency
  • STANDARD: 1 standard lot is 100,000 units of the base currency
  • Ultra Low Micro: 1 micro lot is 1,000 units of the base currency
  • Ultra Low Standard: 1 standard lot is 100,000 units of the base currency
 
Micro Account Standard Account XM Ultra Low Account Shares Account
Base Currency Options
USD, EUR, GBP, JPY, CHF,‎
AUD, HUF, PLN, RUB, SGD, ZAR
Base Currency Options
USD, EUR, GBP, JPY, CHF,‎
AUD, HUF, PLN, RUB, SGD, ZAR
Base Currency Options
EUR, USD, GBP, AUD, ZAR, SGD
Base Currency Options
USD
Contract Size 1 Lot = 1,000 Contract Size 1 Lot = 100,000 Contract Size Standard Ultra: 1 Lot = 100,000
Micro Ultra: 1 Lot = 1,000
Contract Size 1 share
Leverage 1:1 to 1:888 ($5 – $20,000)
1:1 to 1:200 ($20,001 - $100,000)
1:1 to 1:100 ($100,001 +)
Leverage 1:1 to 1:888 ($5 – $20,000)
1:1 to 1:200 ($20,001 - $100,000)
1:1 to 1:100 ($100,001 +)
Leverage 1:1 to 1:888 ($50 – $20,000)
1:1 to 1:200 ($20,001 – $100,000)
1:1 to 1:100 ($100,001 +)
Leverage No Leverage
Negative balance protection  Yes Negative balance protection  Yes Negative balance protection   Negative balance protection  
Spread on all majors As Low as 1 Pip Spread on all majors As Low as 1 Pip Spread on all majors As Low as 0.6 Pips Spread As per the underlying exchange
Commission   Commission   Commission   Commission  
Maximum open/pending orders per client 300 Positions Maximum open/pending orders per client 300 Positions Maximum open/pending orders per client 300 Positions Maximum open/pending orders per client 50 Positions
Minimum trade volume 0.1 Lots (MT4)
0.1 Lots (MT5)
Minimum trade volume 0.01 Lots Minimum trade volume Standard Ultra: 0.01 Lots
Micro Ultra: 0.1 Lots
Minimum trade volume 1 Lot
Lot restriction per ticket 100 Lots Lot restriction per ticket 50 Lots Lot restriction per ticket Standard Ultra: 50 Lots
Micro Ultra: 100 Lots
Lot restriction per ticket Depending on each share
Hedging allowed   Hedging allowed   Hedging allowed   Hedging allowed  
Islamic Account Optional Islamic Account Optional Islamic Account Optional Islamic Account  
Minimum Deposit 5$ Minimum Deposit 5$ Minimum Deposit 5$ Minimum Deposit 10,000$
 

The figures above should only be regarded as reference. XM is ready to create custom-tailored forex account solutions for every client. If the deposit currency is not USD, the amount indicated should be converted to the deposit currency.


You may be new to forex, so a demo account is the ideal choice to test your trading potential. It allows you to trade with virtual money, without exposing you to any risk, as your gains and losses are simulated.
How to Open A Demo Account

Once you have tested your trading strategies, learned about market moves and how to place orders, you can take the next step to open a trading account with real money.
How to Open A Real Account


What is a Forex Trading Account

A forex account at XM is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.

Forex accounts at XM can be opened in Micro, Standard or XM Ultra Low formats as shown in the table above.

Please note that forex (or currency) trading is available on all XM Platforms.

In summary, your forex trading account includes

1. Access to the XM Members Area
2. Access to the corresponding platform(s)

Similarly to your bank, once you register a forex trading account with XM for the first time, you will be required to go through a straightforward KYC (Know your Customer) process, which will allow XM to make sure that the personal details you have submitted are correct and ensure the safety of your funds and your account details.

By opening a forex account, you will be automatically emailed your login details, which will give you access to the XM Members Area.

The XM Members Area is where you will manage the functions of your account, including depositing or withdrawing funds, viewing and claiming unique promotions, checking your loyalty status, checking your open positions, changing leverage, accessing support and accessing the trading tools offered by XM.

Our offerings within the clients’ Members Area are provided and constantly enriched with more and more functionalities and therefore giving our clients more and more flexibility to perform changes or additions to their accounts at any given time, without needing assistance from their personal account managers.

Your trading account login details will correspond to a login on the trading platform which matches your type of account and is ultimately where you will be performing your trades. Any deposits/withdrawals or other changes to settings you make from the XM Members Area will reflect on your corresponding trading platform.


What is a Multi-Asset Trading Account?

A multi-asset trading account at XM is an account that works similarly to your bank account, but with the difference that it is issued with the purpose of trading currencies, stock indices CFDs, stock CFDs, as well as CFDs on metals and energies.

Multi-asset trading accounts at XM can be opened in Micro, Standard or XM Ultra Low formats as you can view in the table above.

Please note that multi-asset trading is available only on MT5 accounts, which also allows you access to the XM WebTrader.

In summary, your multi-asset trading account includes

1. Access to the XM Members Area
2. Access to the corresponding platform(s)
3. Access to the XM WebTrader

Similarly to your bank, once you register a multi-asset trading account with XM for the first time, you will be requested to go through a straightforward KYC (Know your Customer) process, which will allow XM to make sure that the personal details you have submitted are correct and ensure the safety of your funds and your account details. Please note that if you already maintain a different XM Account, you will not have to go through the KYC validation process as our system will automatically identify your details.

By opening a trading account, you will be automatically emailed your login details that will give you access to the XM Members Area.

The XM Members area is where you will manage the functions of your account, including the depositing or withdrawing funds, viewing and claiming unique promotions, checking your loyalty status, checking your open positions, changing the leverage, accessing support and accessing the trading tools offered by XM.

Our offerings within the clients Members Area are provided and constantly enriched with more and more functionalities, allowing our clients more and more flexibility to perform changes or additions to their accounts at any given time, without needing assistance from their personal account managers.

Your multi-asset trading account login details will correspond to a login on the trading platform which matches your type of account, and it is ultimately where you will be performing your trades. Any deposits and/or withdrawals or other setting changes you make from the XM Members Area will reflect on your corresponding trading platform.


Who Should Choose MT4?

MT4 is the predecessor of the MT5 trading platform. At XM, the MT4 platform enables trading on currencies, CFDs on stock indices, as well as CFDs on gold and oil, but it does not offer trading on stock CFDs. Our clients who do not wish to open an MT5 trading account can continue using their MT4 accounts and open an additional MT5 account at any time.

Access to the MT4 platform is available for Micro, Standard or XM Ultra Low as per the table above.


Who Should Choose MT5?

Clients who choose the MT5 platform have access to a wide range of instruments ranging from currencies, stock indices CFDs, gold and oil CFDs, as well as stock CFDs.

Your login details to the MT5 will also give you access to the XM WebTrader in addition to the desktop (downloadable) MT5 and the accompanying apps.

Access to the MT5 platform is available for Micro, Standard or XM Ultra Low as shown in the table above.


What is the Main Difference Between MT4 Trading Accounts and MT5 Trading Accounts?

The main difference is that MT4 does not offer trading on stock CFDs.


Can I Hold Multiple Trading Accounts?

Yes, you can. Any XM client can hold up to 10 active trading accounts and 1 Shares Accounts.


How to Manage Your Trading Accounts?

Deposits, withdrawals or any other functions related to any of your trading accounts can be handled in the XM Members Area.
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