The first step to get started is to register for an XM demo account. You will be asked to provide certain personal details such as your first and last name, your country and city, and your language preference. Once you have completed this, you will be given a login name and password. XM also offers several platforms that will enable you to practice trading. After you have registered, you can choose which platform you want to use, what currency you would like to base your trading account in, and how much virtual funds you would like to trade with.
XM claims to have over 5 million clients across 190 countries, and has processed over 2.4 billion transactions without a single rejection. The company is a leader in the financial industry, and has offices in 120 cities worldwide. The educational content is mostly in video format, and aimed at beginners.
When you open an XM demo account, you can trade during normal market hours, and this will allow you to simulate the experience of live trading without any risk. By using an XM demo account, you can learn and practice trading strategies without any financial or time commitment. You can open and close the demo account as many times as you want, until you feel comfortable enough to switch over to a real account.
XM offers three different types of accounts for different levels of experience. The standard account has variable spreads, while the ultra-low account offers no spreads and no commissions. You can open as many positions as you want, and use leverage up to 1:888. You can start with a minimum deposit of $50 USD.
XM offers a mobile app that is compatible with both Apple and Android devices. You can download the app from the Apple App Store or the Google Play Store, and use it to monitor and trade while you are on the go. It has a fingerprint login feature, and supports Visa and Mastercard deposits, as well as Western Union and Moneygrams. All these features make it easy to manage your account even on the go.
XM also offers a micro account for beginners. This account is designed to help new traders transition to real trading, and is a cost-effective way to start trading. XM allows you to make small trades and get the feel for how the platform works. As you get familiar with trading with your micro account, you will be able to use it as your live trading account.
XM’s demo accounts can be used on the MT4 and MT5 platforms. They can be used on PCs, Macs, iPhones, and Android smartphones. This account allows new traders to practice their trading strategies and test their own potential without risking their own money. Moreover, the demo accounts are free.