How To Create XM Demo Account for Beginner

What is an XM demo account? Forex broker XM is One of the forex learning media and companies that are very useful to practice trading skills directly.

Not only does it function as a simulation program, but the demo account also provides real-time charts and price facilities, according to what is actually happening in the market.

Also read: How To Create FBS Demo Account

On the other hand, the funds that you manage in the XM demo account are not real, because they are only virtual funds that cannot be realized by profit or loss.

XM demo account is available for free. The XM demo account has no expiration limit as long as it is actively used.

Virtual funds are available in a flexible range, from $1000 to $100,000. If you want to optimize the process of learning to trade with money management, you should choose the range of funds that is closest to your balance in a real account.

Also read: How To Create InstaForex Demo Account

XM demo account can be accessed anywhere and anytime. You can choose your trading device in desktop, tablet, or mobile versions. You can open up to 5 accounts with just 1 account profile.

So what are you waiting for? If you want to learn forex, register immediately on an XM demo account to get the conveniences above.

Also read: 4 Knowledge and Aspects of Forex Psychology

Guide for How to Create XM Demo Account

Also read: Types of Charts in Forex Trading that You Must Understand

Confused to fill in your data? In the XM demo account registration form, your data must be filled in completely and confirm your email address. How to? Check out the complete guide.

To register, and create a demo account with XM, traders can follow these steps;

1. Go to the XM website: www.xm.com/register/account/demo?lang=en.
2. Traders will be redirected to a new page where they need to provide personal details such as First and Last Name, Country of residence and city, mobile number, email address, and preferred language.
3. Next, the trader needs to complete the trading account details by selecting the trading platform type, account type, account base currency, leverage, and virtual investment amount.
4. Finally, the trader must create a unique user password before selecting whether the trader wants to receive newsletters, company news, and product updates before clicking on ‘Open Demo Account’.
5. A new page will load, notifying traders that their XM demo account has been created and a confirmation email has been sent to the address provided.
6. Once the trader receives the email, the embedded link can be clicked to verify the email address and the trader will be directed to the XM site.
7. On this page traders will receive their user ID and a link to the trading platform of their choice.
8. In order to use the demo account, the trader must download and install the trading platform and log in using the provided user ID and password created by the trader.

Also read: Principles and Methods of Forex Analysis

Also read: Learn Forex Technical Analysis

XM Demo Account Features

The features of the XM account will depend on the trading platform the trader uses, whether MetaTrader 4 or MetaTrader 5 provides a demo account.

In other words, the demo account features are accessible via the trading platform and will depend on XM’s offerings with respect to asset classes, financial instruments, spreads, leverage, etc.

Also read: How to Learn Forex Trading from Zero for Beginners Trader

Also read: List of Scam Forex Brokers in Indonesia According to BAPPEBTI Regulators

Advantages of XM Account

1. Fully digital demo account registration
2. Fast and hassle-free registration
3. MetaTrader 4 and MetaTrader 5 are trusted and user-friendly trading platforms

Also read: 5 Best Forex Trading Hours in Indonesia and Worldwide

Can I convert my demo account to a live trading account with XM?

Yes. All you need to do is complete additional information along with proof of identity and proof of residence. This can be done easily from the Client Portal/Secure Area.

Also read: 8 How to Read Forex Factory Calendar Precisely and Accurately

What live trading accounts does XM offer?

1. XM Micro Account – $5 minimum deposit, leverage from 1:1 to 1:888, spreads from as low as 1 pip and no commission.
2. XM Standard Account – $5 minimum deposit, leverage from 1:1 to 1:888, spreads from as low as 1 pip and no commission.
3. XM Ultra-Low Account – $50 minimum deposit, leverage from 1:1 to 1:888, spreads from 0.6 pips, and no commission.
4. XM Stock Account – a minimum deposit of $10,000, no leverage, and commission fees at the underlying exchange rate from $1 to $9.

Also read: Know More About What is A Forex Trading for Beginners Traders

What deposit currencies are available for XM live trading accounts?

USD, EUR, GBP, JPY, AUD, ZAR, and etc.

Also read: 5 Components of How to Become a Professional Forex Trader

XM broker for users who decide to open a demo account offers $100,000 virtual capital. Everyone can legally open up to five demo accounts, which are not subject to any time limit.

As a result, the Broker gives you the opportunity to thoroughly familiarize yourself with the MetaTrader platform, test various investment strategies and learn the basic principles of the stock market.

Also read: What is Forex Money Management For Beginner Trader?

If this platform does not meet your expectations or you have encountered serious difficulties when registering an account on the platform, we recommend checking the broker ratings prepared by our team of experienced investors.

The rating for the XM demo account or forex live trading account is created on the basis of years of experience in CFD trading and based on detailed tests of each trading platform featured in it.