XM Demo Account
How to set up a XM Demo Account – Step by Step
To register for, and set up a XM demo account, traders can follow these steps:
- Navigate to the XM website and click on the ‘Open a Demo Account’ banner on the homepage.
- Traders will be redirected to a new page where they will need to provide personal details such as their First and Last name, Country of residence along with city or town, mobile number, email address, and preferred language.
- Next the trader will need to complete the trading account details by selecting the trading platform type, the account type, account base currency, leverage, and virtual investment amount.
- Lastly the trader must create a user-unique password before selecting whether the trader would like to receive newsletters, company news, and product updates before clicking on ‘Open a Demo Account’.
- A new page will load, informing the trader that their XM demo account has been created and that a confirmation email has been sent to the address provided.
- Once the trader has received the email, the embedded link can be clicked to verify the email address and the trader will be redirected to the XM website.
- On this page the trader will receive their user ID and a link to the trading platform that they selected.
- In order to make use of the demo account, the trader must download and install the trading platform and log in using the user ID provided and password that the trader created.
XM Demo Account Features
The XM demo account features will depend on the trading platform that the trader uses, whether MetaTrader 4 or MetaTrader 5, in conjunction with the demo account.
In other words, the demo account features can be accessed through the trading platform and will depend on XM’s offering with regards to asset classes, financial instruments, spreads, leverage, and so on.
Pros and Cons
|1. Demo account sign up fully digital||1. None noted|
|2. Sign up is quick and hassle-free|
|3. Metatrader 4 and Metatrader 5 are reliable, user-friendly trading platforms|
What is the difference between a demo and live trading account?
A demo account provides the trader with a practice account that can be used to practice trading in a risk free environment.
Demo accounts are often suited for beginners who need to build up experience with trading as well as advanced traders who would like to test their trading strategies and explore the offering of a broker before registering a live account.
Does XM offer a demo account?
Can I convert my demo account to a live trading account with XM?
All that you have to do is complete additional information along with providing proof of ID and proof of residence. This can easily be done from the Client Portal/Secure Area.
Which live trading accounts does XM?
- Micro Account – minimum deposit of $5, leverage from 1:1 to 1:888, spreads from as low as 1 pip and zero commissions.
- Standard Account – minimum deposit of $5, leverage from 1:1 to 1:888, spreads from as low as 1 pip and zero commissions.
- XM Ultra Low Account – minimum deposit of $50, leverage from 1:1 to 1:888, spreads from 0.6 pips and zero commissions.
- Shares Account – minimum deposit of $10,000, no leverage and commissions charges as per the underlying exchanged from $1 up to $9.
What are the available deposit currencies for a live trading account?
- ZAR, and more.