XM Account Types Reviewed

filippo ucchino Filippo Ucchino calendar Last Updated: March 2022 timer 6 Min Read

When dealing with any broker, you will be faced with the task of choosing your account type, and learning more about that account.

Trading with XM is no different.

Here we will run you through every account type and provide the basic information you need in order to run and manage your account.

Our XM review also covers some of these points in great detail.

Table of Content

XM Account Types

As a top forex broker around the world, you can choose from a wide range of account types when opening an XM account.

Here is more detailed information on the exact account types offered:

Demo account

An XM demo account is an excellent starting place to learn more about the broker and trading.

Major points to note about XM demo accounts are that the trial is unlimited. You can also open as many as 5 XM demo accounts with a single email address. Every account type offered is also available as a demo account with the exception of the XM shares account.

There is essentially no difference between demo and XM live accounts. A full range of markets is still available. You can also benefit from a $30 XM bonus if you live outside of the CySEC regulatory area. This XM welcome bonus does have some conditions which we will explain in greater detail.

As you are learning with your demo account, you can benefit from additional educational information provided through XM webinars and materials.

Standard Account

The XM standard account is available in every operating area. This account features a spread from 1pip and you can benefit from an XM maximum leverage of 1:500, or 1:30 within the EU and Australia. The XM standard account also has commission-free trading.

Micro Account

The XM micro account is also available in every jurisdiction with a similar spread starting from 1pip and commission-free trades. Here you can benefit from a lower minimum deposit and trading in smaller lot sizes. Again, the leverage is 1:500 for those outside the EU and ASIC oversight, and 1:30 within those areas.

XM Zero Account

The XM Zero Account is available in most jurisdictions where the company operates. This includes under CySEC and FCA regulation and most countries within the XM Global Market. The notable exception here is Australia which is not included.

Spreads start from 0pips on this account, although there is a commission of $3.50 per lot traded.

You can benefit from a free VPS as well as XM maximum leverage of 1:500 outside, and 1:30 inside the EU and Australia.

xm zero account website

Ultra Low Account:

The XM Ultra Low account type is one which is available only to Australian-based traders. This has a spread which starts from 0.6pips and also provides for no commissions on trades.

The leverage available is again up to 1:500 depending on the country and area you are based in.

Professional Account

If you are a professional trader within Europe, and you meet certain criteria as set by XM in terms of trading knowledge, volume, and frequency, then you may be eligible for the XM professional account. This account provides for leverage up to 1:500.

If you are interested in this account type, you should contact XM for more information and they will gladly assist.

Shares Account

The XM shares account, as the name suggests, deals with shares and caters for those who wish to trade from a choice of company stock CFDs. The account is only available to XM Global Market traders and both to those located in the EU or Australia.

A few more conditions of this account type include that commission is charged on trades at varying amounts, bonuses are not available, and no hedging is permitted. The MT5 trading platform must be used with the XM Shares account.

xm mt5 shares account

Islamic Account

Islamic accounts are an important feature for any broker and trader following shariah law. Every XM account can be turned into a rollover free account. To activate this, you should simply contact XM support. The shares account does not charge a rollover-fee by default, though you may still want to check with the support team.

The assets available remain the same, and the spreads match those of a standard account.

XM Account Openings

Now that you have hopefully selected the best account type for you, here are a few things connected with the XM account opening process which may be useful for you to know:

Live Account Opening

If you are satisfied with how your XM demo account worked out, the next logical step to make is the opening of you XM live account. These account types are all detailed above for your consideration.

Live Account Verification

XM verification does not have to be a daunting task. It is one which can be completed in just a few simple steps if you have the correct documents at hand. This is something which our XM live account opening tutorial will also help with.

xm live account verification

Account Currency

The account currency available through XM depends on both your account type, and the regulator which controls it as follows:

  • Standard and Micro Account – Every major currency including PLN and HUF. ZAR and Singapore Dollar are also available. RUB is available if you are outside CySEC and FCA areas.
  • XM Zero Accounts – Both USD and EUR are accepted for deposit worldwide, although the global markets only accept JPY.
  • Ultra Low Account – EUR, USD, GBP, AUD, and CHF are all accepted.
  • Shares Account – USD is the only available currency

Account Funding

XM account funding options depend solely on the country you live in. The generally accepted methods include major credit cards like Visa and MasterCard, e-wallet payment methods, and bank wire transfer.

These methods will change depending on each country of residence so it is best to check your member area for clarification.

Minimum Deposit

The XM minimum deposits are as follows:

  • Micro and Standard Accounts – €5
  • Ultra Low Accounts – €50
  • XM Zero Accounts – €100
  • Shares Accounts – $10,000

Deposit and withdrawal

With XM deposit and withdrawal, you must deposit and withdraw in your own name. In addition, you must use the same method for withdrawal as deposit, unless one is a bank transfer.

In the case of bank transfer, this can take between 2-5 days. Other methods are available for immediate deposit and a withdrawal time of 24-hours.

Deposit and withdrawal capability is only available after verification has been completed. There are also no fees for deposit or withdraw other than Western Union and MoneyGram. When the bank transfer deposit is more than $200, XM covers the fee.


XM Bonus amounts are not available underASIC, CySEC and FCA regulation, but are available elsewhere. According to broker terms and conditions, the bonus amount itself cannot be withdrawn, but profits made from the bonus can be. There are no bonuses available on shares accounts.

Live accounts

XM live accounts bonuses work as follows where available:

  • First Deposit – 50% up to 500 EUR
  • Other Deposits – 20% with a 5000 EUR limit
  • XM is the only platform to offer a welcome bonus. This bonus is 30USD

Demo accounts

Your XM welcome bonus can be claimed through your demo account and be used when you switch over to a real account through the simple process.

XM Account Management

Now that you are in the know about most things XM account related. Here are just a couple of final points to add in relation to your account management.

Account Number

XM will email you your account number directly after sign up if you ever require it.

Invalid Account

If you are receiving this error message with your metatrader trading platform, then it is likely your login credentials are incorrect. Simply contact support after double checking and they can help you out.

Account Expiring and Reactivation

In regards to XM account expiration, demo accounts are cancelled after 30 days of inactivity. This period is 90-days if you are outside CySEC and FCA regulation.

XM live accounts are cancelled after 90 days of inactivity. In this case, a monthly inactivity fee of $5 will be applied to keep the account running if there is a balance. If not, the account may be closed. If this does happen, there is no reactivation as such and you will have to create a new account.

Close Account

XM account closing may only be applicable in very few cases. If it is, then you best course of action will be to contact XM support for assistance in doing so.

Open Account
73.57% of retail investor accounts lose money

About The Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

Leave a Reply

Your email address will not be published.

Better Informed

Find and Compare The Best
Online Broker For You

Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
ADVERTISER DISCLOSURE: InvestinGoal is completely free to use for all. Though we may receive a commission from brokers we feature, this does not impact the results of our reviews or rankings which are conducted with complete independence and objectivity, following our own impartial methodology. Help us continue to provide the best free broker reviews by opening your account with our links. Please read our Advertiser Disclosure to learn more.
Copyright © 2022 InvestinGoal.com – All rights reserved. / Privacy and Cookie Policy / Basic Terms of Use / Risk Warning / Sitemap