XM MARGIN AND LEVERAGE:
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Yes, the XM Demo Account provides a free demo trading account for new traders to practice with. The Demo account interface is perfect for traders who want to learn how to trade without risking any money. XM Demo Account allows you to practice forex trading in a risk-free environment.
Step-by-Step for Opening an XM Demo Account
Traders may register for and set up an XM demo account by following these steps:
- Go to the XM website and click the banner on the homepage that says “Open a Demo Account.”
- Traders will be sent to a new page where they must provide personal information such as their first and last names, country of residence, city or town, phone number, email address, and preferred language.
- Following that, the trader must complete the trading account information by choosing a trading platform, an account type, an account base currency, leverage, and a virtual investment amount.
- Finally, before clicking on ‘Open a Demo Account,’ the trader must create a user-unique password and choose whether or not they want to receive newsletters, corporate news, and product updates.
- A new page will appear, alerting the trader that their XM demo account has been created and that a confirmation email has been sent to the specified address.
- When the trader receives the email, he or she can click the attached link to validate the email address and be sent to the XM website.
- The trader will receive their user ID and a link to the trading platform they choose on this page.
- To utilize the demo account, the trader must first download and install the trading platform, then log in with the user ID and password generated by the trader.
XM Demo Account Reviewed
The XM demo account features will rely on the trading platform that the user employs, whether MetaTrader 4 or MetaTrader 5, in conjunction with the demo account.
In other words, the demo account features may be accessed through the trading platform and will rely on XM’s offering with regards to asset classes, financial instruments, spreads, leverage, and so on.
Both MetaTrader 4 and MetaTrader 5 are strong, comprehensive, user-friendly, and highly adjustable trading platforms that cater substantially to the trading demands and objectives of traders despite their various levels of ability, knowledge, and experience.
The platforms include, but are not limited to, the following features:
Charting capabilities that are both interactive and straightforward.
The capacity to alter charts using analytical tools, a range of technical tools, and drawing tools to meet the traders’ demands or aims.
Expert Advisors, or EAs, are trading capabilities that are automated.
More tools, indicators, and EAs can be downloaded.
The ability to design EAs using MQL5, a complex and powerful language.
Through the tools and information readily available, the capacity to undertake extensive and complete technical and basic analysis.
The capacity to develop, test, and apply a wide range of trading strategies in a risk-free environment with no risk to the trader’s own money.
- These are only a few of the features offered to traders, and it’s the ideal trading platform since it combines high functionality with XM’s demo account to provide users a mirrored version of a live account without the fear of losing money.
- The demo account may be used extensively by traders to test their trading methods, given the duration in which it is accessible, and the MetaTrader platforms provide appropriate support for the simplest and most complicated trading tactics.
- In addition, the demo account, when combined with the usage of the MetaTrader platforms, provides for a thorough examination of XM’s offerings and trading circumstances by utilizing the necessary virtual cash offered without risking any losses.
- Traders should be aware that the demo account will only be available for a limited period, and that when converting the account, a separate account application form must be completed.
- This application form involves personal information, financial information, residence address information, and a variety of other details, as well as a mandated ‘Know Your Client’ procedure for the trader.
- The ‘Know Your Client’, or KYC, procedure entails the submission of papers such as identification and evidence of domicile in order to verify the trader’s information. It is also part of the anti-money laundering, or AML, process.
- These procedures are part of XM’s regulatory entities’ duties and regulations, and they ensure that all trading actions are lawful, fair, and rigorously monitored, with random and frequent audits to assure compliance. Check out the XM sign-up incentive.
Pros and Cons of XM.com
|Signing up for a demo account is completely digital.||None noted|
|It’s simple and quick to sign up.|
|Metatrader 4 and Metatrader 5 are trading systems that are both trustworthy and user-friendly.|
|Demo Account mimics the genuine account’s functionality without posing any risks.|
|Traders may use MetaTrader 4 and 5 to learn more about XM’s trading conditions and products.|
Your open positions are automatically closed when your equity falls below the stop-out level. In a retail account, the stop-out level is reached when your equity falls below 50% of the required margin.
What's the difference between a XM Demo account and a real trading account?
A demo account gives a trader access to a practice account where he or she may practice trading without risk. Demo accounts are frequently used by novices who seek to gain trading experience as well as expert traders who want to test their trading methods and learn more about a broker's offerings before enrolling for an actual account.
Is it possible to convert my XM demo account to an actual trading account?
Yes. All you have to do now is fill out some extra information and provide evidence of identification and residency. This may be done quickly and easily using the Client Portal/Secure Area.
What types of trading accounts does XM provide?
- Micro Account – minimum deposit of $5 .
- Standard Account – minimum deposit of $5 .
- XM Ultra Low Account – minimum deposit of $50 .
- Shares Account – minimum deposit of $10,000.