XM Group Account Review
XM Group offers several types of accounts. They offer commission-based accounts, micro and standard accounts, and the ultra-low spread XM Zero account. Let’s look at each and see what each type offers. For those looking for a zero-commission account, the XM zero account is the right choice for you.
XM Group offers four types of accounts.
XM Group is a broker that offers trading in various currencies and asset classes. It also does not charge any hidden fees. The broker accepts most major credit and debit cards, e-wallet payment methods, bank wire transfers, and UnionPay. XM Group also offers a loyalty program with redeemable points for cash rewards and extras.
Several types of accounts are available to clients, ranging from micro to standard. Each type offers the same level of quality execution. All accounts come with minimum slippages, requotes, and overlaps. Leverage levels meet European standards, including the MiFID directive. Leverage levels are also consistent across the broker group. Maximum leverage for registered clients is 30:1.
Standard and Micro accounts are commission-free
There are several benefits to an XM Zero Account. It requires a minimum deposit of USD 100. You can use the account to trade micro or standard lots. Its maximum leverage is one thousand to one, and its Spread is zero pips. XM Zero accounts are available only to clients who are onboarded under its IFSC.
The XM Standard and Micro accounts are commission-free. Their minimum deposits are low, and they are designed for beginner traders. Each account type has different features, including commission-free trades, micro lots, and negative balance protection. The main difference between Micro and Standard accounts is their allowable trading size, with a Micro account designed for cent trading and a Standard account for conventional volumes.
XM Ultra-low account is a low-spread account.
XM Ultra-low accounts are specialized accounts for micro and standard lots that feature low spreads and commission-free trading. You can open this account with a minimum deposit of $50. XM Ultra-low accounts can also be opened with a zero account, which allows you to limit your maximum Spread. The downside to this type of account is that you have no protection if you are outside CySEC’s jurisdiction. Also, you cannot trade with this account from the US or Canada.
This account has low spreads and is available to XM traders in certain countries. For example, trading Point of Financial Instruments Pty Limited, a company headquartered in Australia, offers this type of account. If you’re in an eligible country, you should see the option for an Ultra Low spread account on the account opening page. If not, you may not be eligible.
XM offers a demo account.
If you are unsure whether or not you are ready to trade life, you can sign up for a demo account with XM. These accounts are essentially virtual versions of the real thing, and you can use them to get familiar with the software and the trading process. Unlike other brokers, XM allows you to test drive its services for an unlimited time before making a real money investment. Once you’ve tried out the demo account, you’ll want to move to a live one as soon as possible.
The XM website has a registration form that you can complete online. You’ll need to provide your first and last name, country, city/town, and information about your current trading contract. In addition, you’ll need to choose your preferred trading platform (MetaTrader 4 or MetaTrader 5), the base account currency, the leverage ratio, and total virtual funds.