What is an XM demo account? XM broker forex demo account is One of the forex learning media that is 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.
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.
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Why XM Demo Account?
- 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.
- XM demo account can be accessed anywhere and anytime. You can choose your trading device in a desktop, tablet, or mobile version.
- You can open up to 5 XM demo 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.
Guide of How to Create XM Demo Demo Account
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:
- Go to the XM website: www.xm.com/register/account/demo?lang=en.
- 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.
- 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.
- 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’.
- 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.
- 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.
- On this page traders will receive their user ID and a link to the trading platform of their choice.
- 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.
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XM Broker MetaTrader Installation Guide
Why is XM MT4 Better? XM pioneered the offering of the MT4 platform with trade execution quality in mind.
Difference between MetaTrader 4 and MetaTrader 5
MetaTrader 4: XM MT4 – Faster and Better
XM is a pioneer in delivering the MT4 platform with a primary focus on execution quality. Trade on MT4 with no requotes, no rejections, and flexible leverage from 1:1 to 888:1.
- 1 login for 8 platform
- – Micro Lot Account (optional)
– Spread as low as 0 pips
– Trade on over 300 Instruments
MetaTrader 5: XM MT5 – 1 Platform, 6 Asset Classes
MT5 XM offers all the features available on MT4 XM, with an additional 300 share CFDs, making it an ideal platform.
Trade forex, stocks, gold, oil, equity indices, and cryptocurrencies from 1 platform with no rejection, no requotes, and leverage from 1:1 to 888:1.
- 1 login for 7 platform
- More than 80 analysis objects
- Market Depth of Latest Price
- Over 300 Instruments, including stock CFDs, stock index CFDs, forex, CFDs on precious metals, CFDs on cryptocurrencies and CFDs on energy
- Download MetaTrader: After registering, on the account confirmation page there is a download link for MetaTrader available. The platform provided is according to the choice when filling out the form.
- Alternative Download: If the confirmation page is closed, no need to worry. The download process for MetaTrader can still be done through the XM Broker site. From the ‘PLATFORM’ navigation select the appropriate MetaTrader. Click ‘DOWNLOAD’ after the new page opens, then the download process will run.
- MetaTrader Installation File: After the download process is complete, open the folder where the installation file name is xmglobal4setup.exe and then double click on the file to start the installation process.
- Administrator Account: Make sure the user account on the PC that we use is the Administrator account. If not, then enter the Administrator account password in the pop-up that appears.
- Starting Installation: The initial appearance of the Metatrader installation from the XM Broker appears, in this view just click ‘Next’.
- Installation Process: The installation process will run by itself, we just need to wait until the process is complete.
- Check Email Inbox: While waiting for the installation process, check your email inbox, there should be a second confirmation email from XM. If you can’t find a confirmation email in your email inbox, try checking your ‘Spam’ or ‘Bulk’ folder. This second email contains the MetaTrader ID and Server. Save this information for use in the next step.
- Choosing the XM MetaTrader Server: After the installation process is complete, a list of servers that must be selected will appear. Use the appropriate server in the confirmation email in step 7. In this example XMGlobal-Demo 4.
- XM Demo Account Login: Now only need to fill in the account login, using the MetaTrader ID in step 7. For example 51237067. Meanwhile, enter the password when filling out the registration form.
- Done! Safe! The XM MetaTrader installation and configuration process is complete.
- MetaTrader Initial View: Example of a ready-to-use MetaTrader preview. Next, complete your MetaTrader knowledge in more depth here.
Also read: Complete 14 Types of Forex Candlestick Patterns with Signal Accuracy
XM Demo Account Features
The features of the XM demo 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.
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Advantages of XM Demo Account
- Fully digital demo account registration
- Fast and hassle-free registration
- MetaTrader 4 and MetaTrader 5 are trusted and user-friendly trading platforms
Also read: 3 Types of Charts in Forex Trading that You Must Understand
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.
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What live trading accounts does XM offer?
- Micro Account: $5 minimum deposit, leverage from 1:1 to 1:888, spreads from as low as 1 pip and no commission.
- Standard Account: $5 minimum deposit, leverage from 1:1 to 1:888, spreads from as low as 1 pip and no commission.
- XM Ultra-Low Account: $50 minimum deposit, leverage from 1:1 to 1:888, spreads from 0.6 pips, and no commission.
- Stock Account: a minimum deposit of $10,000, no leverage, and commission fees at the underlying exchange rate from $1 to $9.
Also read: What is Forex Market Sentiment?
What deposit currencies are available for XM live trading accounts?
USD, EUR, GBP, JPY, AUD, ZAR, and etc.
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.
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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.