XM offers a variety of trading platforms and account types. Traders can choose a standard account or a custom account to meet their needs. Both types require personal information and financial information. To open an account, traders must answer a series of questions related to their financial knowledge and identity. After completing these steps, the company issues an account number and a client terminal to access the account.
There are numerous account types at XM, each with their own set of conditions and benefits. Standard account holders have access to standard and micro lots, as well as unlimited Expert Advisors. The company also provides free technical analysis and intra-day market updates. They also provide fast execution of trades, as well as round-the-clock customer support.
The Micro and Standard account types have similar features, but differ in their amount of leverage and base currency. The Micro account is a great choice for beginners and provides a rock-bottom minimum deposit. Both Standard and Micro accounts have 50 positions as the maximum open orders per client. The Standard account is a better option for those who want to make larger trades.
The XM platform offers a variety of commission-free accounts. The Ultra-Low Standard account, for example, has spreads as low as 0.6 pips, or $6.00 per 1.0 standard lot. The other two account types have higher markups. XM is not regulated by CySEC or the FCA, but it offers a number of advantages.
Traders who are already experienced may want to use a standard account. This account type offers everything a trader needs in a broker. The minimum deposit for an XM standard account is the same as those of its competitors. There are no other differences between the standard and micro accounts, except that the standard account allows traders to trade up to 100,000 contracts at a time.
XM offers three types of trading accounts, including a demo account and a standard account. The standard account comes with no commissions and is also available as an Islamic account. XM also offers a free demo account that doesn’t have an expiration date. This account type allows you to practice your strategies without the risk of real money.
XM’s account types are easy to open and have low minimum deposit requirements. Different types of XM accounts have different pricing, base currencies, and contract sizes. Moreover, the XM brokerage platform does not offer corporate accounts. This means that non-European entities don’t qualify for the European client protection.
XM has more than 5 million clients across 190 countries. Traders can access 57 different forex pairs and five asset types. In addition, XM offers over 1,000 stocks from around the world. Its website also offers educational materials. This makes XM a great option for new traders.