XM offers various types of accounts for different types of traders. It offers a Micro Account for traders who want to use a small amount of leverage. A Micro Account can use leverage between one and eighty percent. It has a minimum deposit of five dollars and requires one standard lot of currency. Traders can also use the XM Zero Account for a minimal deposit of just one hundred dollars.
XM accepts debit and credit cards for deposits and withdrawals. It offers a Mastercard that is accepted in both the US and Europe. Traders can deposit with either card in the store or online. Deposits made with these cards are processed in two to five days. The smallest withdrawal amount is $200.
XM is regulated by three regulatory agencies worldwide. It is registered with the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Dubai Financial Services Authority (DFSA). All three of these agencies impose strict compliance guidelines for the broker. They must maintain adequate capital and segregate their clients’ funds.
To learn more about Forex trading, consider opening a demo account. Demo accounts give new traders the opportunity to test out strategies and develop trading knowledge in a secure and regulated environment. XM provides free access to up to $100,000 in virtual capital for demo trading. Demo accounts do not expire, but they are not eligible for deposit bonuses. If you are not comfortable with using demo accounts, consider using a demo account until you feel confident enough to open a real account.
XM offers a number of account types and conditions for traders of all levels. The MT4 platform is available for PCs and Macs and comes with several options. Some of its features include 0 pips spreads, 1 click trading, and three chart types. In addition, XM offers a 24 hour customer support line.