How to Open a Demo Account in XM

How to Open a Demo Account in XM

This lesson is dedicated to explaining how to create a demo account in the Forex broker XM.

We will explain step by step and in a simple way how to activate an XM demo account

The demo account works as a virtual money trading simulator provided by the same platform.

It is important to know that this Forex broker provides access to the markets from any available device or operating system.

  • Windows PC
  • Webtrader
  • Mac
  • Iphone, Ipad
  • Android

The demo account does not require any type of deposit to access the platform and the assets it has.


How to Open Account in XM

You must first access the XM broker portal, where you can find the button to create a demo account.

How to Open a Demo Account in XM

As you can see in the central part of the page there is the red button to create a free demo account.

Immediately next to it in green, you can see the button to create a real account.

For this guide, we proceed to create a demo account with the Metatrader4 platform, the main trading terminal of this broker.

By clicking on the red button, you will be redirected to the demo account registration. There you will have to complete the form with the required information as below.

How to Open a Demo Account in XM

In addition, information on the trading account like the account type and maximum leverage are requested to create an account that suits the needs of the trader. Such data are: 

How to Open a Demo Account in XM

-Trading Patforms Type: The trading platforms Metatrader 4 and Metatrader 5 will be available here.

How to Open a Demo Account in XM

- Account Type: Here we can indicate if we want to open a standard account or an XM Ultra Low account.

How to Open a Demo Account in XM

- Account Base currency: It is the base currency that will be used in transactions in the trading account.

How to Open a Demo Account in XM

-Leverage: The leverage available in XM ranges from 1: 1 to 1: 888.

How to Open a Demo Account in XM

- Investment amount: This is the amount of virtual money available to practice in the demo account.

How to Open a Demo Account in XM
- Account Password:
The Account password field must be filled out with English alphabet letters and must include three character types: lowercase letters, uppercase letters and numbers. You also have the option to use any of these special characters: # [ ] ( ) @ $ * ! ? | , . ^ / \ + _ -

  • 8 — 15 characters
  • At least one uppercase letter (ABC...)
  • At least one lowercase letter (abc...)
  • At least one number (123...)
How to Open a Demo Account in XM

After completing the requested data, Check the checkbox and press the green button to open a free demo account with practice funds.

You will immediately go to the page where you are notified of the sending of a confirmation email.

How to Open a Demo Account in XM

In your mailbox, you will receive an email like the one you can see in the following image. Here, you will have to activate the account by pressing where it says “Confirm email address“. With this, the demo account is finally activated.

How to Open a Demo Account in XM

Upon confirmation of the email and account, a new browser tab will open with welcome information. The identification or user number that you can use on the MT4 or Webtrader platform is also provided.

How to Open a Demo Account in XM

Finally, the trader must press the green button where you can download or run the Metatrader 4 or MT4 Webtrader platform.

It should be remembered that for the version of Metatrader MT5 or Webtrader MT5 the account opening and verification process is exactly the same.


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.

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