WHICH XM ACCOUNT SHOULD WE OPEN?

WHICH XM ACCOUNT SHOULD WE OPEN?

XM has a significant experience as a provider of financial services worldwide and also with unparalleled transparency.

XM offers investors the possibility of investing in more than 250 financial instruments such as the main currencies of the Forex market and CFDs on stocks, precious metals, indices, commodities and energy.

But, not everything that shines is gold and, unlike other brokers, XM only offers a unique system of trading platform, however, it is one of the most completed that exist today and that provide enough coverage for us to invest in the different markets, this is not more than MetaTrader4 (MT4).

xm account type

But, what does XM MetaTrader allows us?

Well, it allows for the possibility of a single trader acting on eight different platforms and admits a large number of orders with respect to the operations that are taking place at the same time. Other important information to mention about this XM is the low level of spreads or the leverage flexibility that ranges between 1: 1 and 888: 1.

One of the good things is that this platform gives you access to more than 100 financial instruments so that, at present, it stands as one of the best that exists in the market.

If you decide to operate through the XM broker, you will have the possibility to choose between several types of accounts, so we will have the possibility to evaluate and choose the one that best suits your needs.

XM trading accounts available are the following:

  • Micro Account: This is the most basic of all of them, especially in terms of currency. The main feature of this account is that you do not have to pay any commission and the maximum number of orders is 200. If you wish, you can open an Islamic account within the Micro which is totally optional, but to acquire it we must make a deposit of at least $5.

Click to learn more Micro Account here

  • Standard Account: On the other hand, this type of account is usually the most common among traders since it practically offers the same characteristics as the Micro, although in these some currencies are modified and the noticeable difference lies in the established lots, which here are considerably higher.

Click to learn more Standard Account here

  • XM Zero Account: This is characterized by being the most complete of all and is mainly aimed at more experienced users with years of experience or extensive knowledge of the financial world. Despite offering characteristics similar to the previous ones, this time we will have to pay commissions for some actions that we do and the minimum deposit will be $100.

Click to learn more Zero Account here

If the idea of ​​investing in the financial market is attractive but you still do not want to take too many risks, then XM offers you the possibility of becoming a Demo account. It is a simulator of the broker, where you can perform all kinds of operations and use the tools available in order to familiarize with the platform and market strategies. This option can be used for an unlimited time, although all the movements you do will be with virtual money.

Open demo account here

The brokers use some resources such as bonuses to encourage their users on numerous occasions and XM is not the exception to the rule; it does it, and also offers different types of bonds in order to cover each and every one of the needs of the traders according to the account they have chosen or the activity they have in the financial market.

First of all, they offer a welcome bonus with which you have the possibility of obtaining an additional amount of €25 at the moment we open an account. In addition to this, the bonus will be obtained automatically without having to make any type of deposit.

Another type of bonuses offered by XM is the loyalty program, through which users earn points according to some criteria established by the broker. Normally, it usually is the participation of events indicated in the year or how active a trader can be on the platform.

Get XM welcome bonus here

XM also has been promoting a contest among users for a long time so that more people join; it is the World Forex Championship, and its prize is one million dollars.

The challenge consists of 10 qualifying rounds, each of which has a prize of less than $50,000. The objective of the traders is to go from rounds to reach the final and thus get a larger amount. To participate in this Championship the only requirement is just to have a real account open in the broker.

The type of account that you are going to open in XM depends directly on the kind of person you are and how you handle yourself in the financial world. If you are just beginning, in that case the most advisable thing is to open a micro account, so you can start with the basics, you will learn and as time goes by you can move forward within the account.

Now, if you are already advanced and have sufficient knowledge as well as experience in trading, the other types of accounts are perfect for you since you will know what is best for you and what is not and what is best for you.

In any way and whatever the type of account you decide to open, you will not be alone because the XM team will always be willing to help you, because thinking about their clients and the best for them, they have a tool that is considered among the best that can be offer any broker, and this is a training center.

It is an educational section which is of great help for those traders who are starting in the world of investments, although it is also an excellent option for experts who have been interacting in the financial sector for years.

In any case, the training center of XM is available to all those who are interested in learning a little more about Forex and CFDs and anything related to this.

XM review

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Disclaimer: All articles in this website are my personal perspective. I don’t encourage you follow them. Because you can lost all your fund. I don’t response for all your loss if you follow them.