Question: What's required to open Forex MT4 & MT5 accounts with XM?
Opening and start trading Forex isn’t a a hardest thing to do for anyone.
To open a Live Account with XM, you just need to meet following requirements.
- You have internet connection
- You are older than 18 years old
- You are able to provide XM with a copy of your Passport/ID and a utility bill no older than 3 months
- You have funds you can deposit to XM and is the amount you can afford to lose
XM is a regulated online Forex broker, and the account opening process is even easier comparing to other brokers.
If you are ready to start trading Forex with XM, please go to the account opening page and start with filling in these required fields.
XM has 3 account types
XM offers 3 different account types on MT4 and MT5 trading platforms, which are Micro, Standard and XM Zero account types.
You can choose to open all account types and manage them all together in your client portal.
The main differences of the account types are as follows:
Account Types | XM Zero | Standard | Micro |
---|---|---|---|
Required Minimum Deposit | $200 | $5 | $5 |
Accout Currency | EUR, JPY, USD | AUD, CHF, EUR, GBP, HUF, PLN, RUB, SGD, USD, ZAR | AUD, CHF, EUR, GBP, HUF, JPY, PLN, RUB, SGD, USD, ZAR |
Leverage | 500:1 | 1000:1 | 1000:1 |
Minimum Spread | from 0.0 pips | from 1 pips | from 1 pips |
Trading Commission | $3.5/per Lot | N/A | N/A |
Minimum Trading Lots | 0.1 | 0.01 | 0.001 |
Maximum Trading Lots | 50 | 50 | 100 |
For the full account comparison table, please refer to the page here.
Bonus Promotions offered by XM
For traders residing in certain regions, XM is offering Bonuses.
Promotions may include:
- No Deposit Bonus
- Deposit Bonus
- Trading Contest
The offer and the conditions of the promotions maybe different depending on the regulation the trader’s account will be under.
For more information, visit XM’s official website and signup to find out.
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