XM offers a free downloadable software that allows users to practice with their trading platform. This software lets users practice using the various features of the forex platform, such as setting a Stop Loss and Take Profit, before they actually trade real money. You can open as many demo accounts as you need to get familiar with the software. It can also help you learn how to trade efficiently and effectively.
Using an XM forex demo account is the perfect way to get acquainted with the forex market and trade strategies before you risk your own money. The software provides a virtual base currency balance of $100,000. Unlike a live trading account, a demo account does not have any limitations, so it’s a great way to practice your trading strategies before you actually start trading with real money. XM offers a number of different account types, each with different features.
The XM ultra low account offers zero commission and zero spread. This account lets you open up to 250 positions at a time. It also comes with a leverage of 1:888. Expert traders use this account. In addition to the demo account, XM also offers a standard account, which lets them trade in GBP, EUR, USD, SGD, ZAR, and NZD.
XM does not charge commission for credit card deposits, and they credit your account immediately after the deposit. You’ll be notified of the credit via email, and you can begin trading right away. XM has a video that demonstrates the process of depositing money to your account.
To open an XM forex demo account, you need to make a minimum deposit of $5 USD. XM offers support in several languages and offers live chat services. If you have any questions, simply contact the XM customer support desk. They are available around the clock, seven days a week.
The XM standard account offers commission-free trading for the first month. It allows you to trade with as few as six pips on EUR/USD/JPY exchanges. However, you should note that you can only open up 200 positions with this account. You can also make a minimum deposit of $10.
There are many benefits to signing up for a free Forex demo account. It allows you to practice using the trading platform and familiarize yourself with the different trading indicators and order types. It also allows you to practice your trading strategies and tools. You can use the free MetaTrader indicators available on the site.
XM’s account types are easy to understand and realistic. They’re also great value for money. Often, the account types are overly complicated and difficult to use, but this company stays focused on their clients and keeps them satisfied.