If you’ve ever thought about trying Forex trading, you may want to take advantage of the free XM Forex demo account. The process is fast and straightforward. First, you need to visit the XM website. Select your regulatory area and click on the big red button in the center of the screen that says “Open a Demo Account.”
An XM demo account provides you with full access to the XM trading platform. It features the same trading instruments as a live account and similar trading conditions. Once you open an account, you can test your strategies on it for up to 120 days before you have to open a live account.
XM also offers retail Forex trading platforms that are easy to understand and use. MetaTrader 4 and MetaTrader 5 are two of the most common retail platforms, and both are popular and easy to understand. You can even choose a MT4 or MT5 platform to demo trade. XM’s demo accounts do not qualify for XM promotions or bonuses, and they will automatically close after 90 days of inactivity. However, you can always open a new one.
As currency trading is done in pairs, there are certain limitations that you should be aware of. One of these limitations is the leverage. If you use leverage of one to one, you can trade with as little as 1:500. The leverage is the amount of money you put on the line in exchange for a certain amount of currency. Normally, currency rates change by around 100 Pips a day.
The XM forex demo account provides you with the chance to practice trading strategies without risking real money. This free account is accessible on PCs, Macs, and smartphones. It also helps new traders test out their strategies and evaluate the current market conditions. Its main purpose is to help traders evaluate the pros and cons of forex trading, and to make informed decisions.
Another benefit of XM’s demo account is that there are no commissions. You only pay a commission if you make a trade. You can also deposit funds to your account using your credit card. XM will notify you via email if your deposit was successful. Then, you can start trading immediately.
XM’s website offers a range of economic instruments, including forex trading, indices, and commodities. In total, the site features 700 different assets. The website also includes a section for education and research. There, you can learn about industry-leading market analysis, forex signals, and webinars.
XM offers various demo accounts to allow you to practice trading before committing to a live account. You can also open an account with a zero balance to test the waters without risking your real money.