XM Account Types – XM is a global broker offering a range of account types, from basic to advanced. Depending on your trading style and goals, you can choose from different account types to best suit your needs.
XM offers accounts for beginners as well as experienced traders, with the ability to trade on over 1,000 financial instruments across forex, stocks, indices and commodities. With XM’s competitive spreads and leverage options, you can find the perfect trading environment for your own individual needs
You might be new to forex, so a demo account is the best decision to test your trading potential. It permits you to exchange with virtual cash, without presenting you to any danger, as your benefits and misfortunes are mimicked. Whenever you have tried your trading procedures, found out about market moves and how to put orders, you can find the following way to open a trading account with genuine cash.
XM trading account types
At XM clients have the flexibility to trade by using the same margin requirements and leverage from 2:1 to 30:1 depending on instrument.
Islamic AccountXM BROKER
- MT4, MT5, Android, iOS
- Over 1000 Instruments. Forex, Stocks, Commodities, Metals, Energies and Indices
- Minimum deposit (Zero, Standard, Micro)
- Commission (Zero, Standard, Micro)
- Spreads (Zero, Standard, Micro)
- 1:30 & 1:888 Leverage
Frequently asked questions before choosing XM Broker
What is a Forex Trading Account?
A foreign exchange account at XM is a buying and selling account that you’ll maintain and that may work equally to your checking account, however with the distinction that it’s primarily issued with the aim of buying and selling on currencies.
Forex accounts at XM could be opened in Micro, Standard or XM Zero codecs as proven within the desk above.
Please observe that foreign exchange (or foreign money) buying and selling is out there on all XM Platforms.
In abstract, your foreign currency trading account consists of
- 1. Access to the XM Members Area
- 2. Access to the corresponding platform(s)
Similarly to your financial institution, when you register a forex trading account with XM for the primary time, you can be required to undergo an easy KYC (Know your Customer) course of, which is able to permit XM to be sure that the non-public particulars you’ve gotten submitted are right and make sure the security of your funds and your account particulars.
By opening a foreign exchange account, you can be routinely emailed your login particulars, which offers you entry to the XM Members Area.
The XM Members Area is the place you’ll handle the capabilities of your account, together with depositing or withdrawing funds, viewing and claiming distinctive promotions, checking your loyalty standing, checking your open positions, altering leverage, accessing assist and accessing the buying and selling instruments provided by XM.
Our choices throughout the shoppers’ Members Area are offered and continuously enriched with an increasing number of functionalities and subsequently giving our shoppers an increasing number of flexibility to carry out modifications or additions to their accounts at any given time, with no need help from their private account managers.
Your buying and selling account login particulars will correspond to a login on the buying and selling platform which matches your sort of account and is in the end the place you can be performing your trades. Any deposits/withdrawals or different modifications to settings you make from the XM Members Area will replicate in your corresponding buying and selling platform.
How to Open a XM Islamic Account?
The swap-free choice may be chosen as a part of the buying and selling account registration in three straightforward steps:
- Open a trading account with us
- Login to the Members Area and validate your account
- Request An Islamic Account
As quickly as our related division receives your request, your buying and selling account will obtain swap-free standing and you may be notified by electronic mail accordingly. Please notice that XM reserves the appropriate to revoke the swap-free standing granted to any actual buying and selling account within the occasion of any type of abuse.
No Expiration, No Spread Widening, No Commissions and No Hidden Fees.
100% Shariah Compliant. OPEN ACCOUNT
Account Features at a Glance
- No curiosity/swap prices on in a single day positions
- No unfold widening
- No up-front commissions
- Positions may be held with no time restrict
- No re-quotes, no hidden prices
- Leverage as much as 30:1
- 100% real-time market execution
- Same buying and selling situations as for our buying and selling account varieties
- Free and on the spot entry to all buying and selling platforms
- 24/5 devoted help out of your Client Account Manager
The XM forex Islamic accounts differ significantly from these usually provided by different foreign exchange brokers. The distinction lies in the truth that in contrast to most foreign exchange firms who substitute further charges by widening the unfold on Islamic accounts, XM imposes no further prices.
In order to abide by the non secular legislation of Islam, merchants of Islamic perception are forbidden to pay curiosity. However, if the curiosity cost is transferred to a distinct kind of payment, it’s principally nonetheless a cost that covers the curiosity. This can be identified by the identify of swap-free in disguise. XM is firmly in opposition to such practices because it opposes to honest and moral buying and selling situations.
Who Should Choose MT4?
MT4 is the predecessor of the MT5 buying and selling platform. At XM, the MT4 platform permits buying and selling on currencies, CFDs on inventory indices, in addition to CFDs on gold and oil, however it doesn’t provide buying and selling on inventory CFDs. Our shoppers who don’t want to open an MT5 buying and selling account can proceed utilizing their MT4 accounts and open an extra MT5 account at any time.
Access to the MT4 platform is out there for Micro, Standard or XM Zero as per the desk above.
Who Should Choose MT5?
Clients who select the MT5 platform have entry to a variety of devices starting from currencies, inventory indices CFDs, gold and oil CFDs, in addition to inventory CFDs.
Your login particulars to the MT5 can even offer you entry to the XM WebTrader along with the desktop (downloadable) MT5 and the accompanying apps.
Access to the MT5 platform is out there for Micro, Standard or XM Zero as proven within the desk above.
What is the Main Difference Between MT4 Trading Accounts and MT5 Trading Accounts?
The major distinction is that MT4 doesn’t provide buying and selling on inventory CFDs.
Can I Hold Multiple Trading Accounts?
Yes, you possibly can. Any XM shopper can maintain as much as eight buying and selling accounts of their alternative.
How to Manage Your Trading Accounts?
Deposits, withdrawals or every other capabilities associated to any of your buying and selling accounts could be dealt with within the XM Members Area.
Trade Responsibly: Derivative products are highly leveraged, carry a high level of risk and are not suitable for all investors.