XM – Account Types

Review By: Alan Little

Review Updated: August 23, 2022

XM offers five different types of trading accounts; Micro account, Standard account, XM Zero account, Ultra-Low account, Shares account. Also available are Demo and Islamic account options. 

Unlike other brokers where the size of your deposit determines your benefits, XM has a standard minimum deposit amount of US$5 – this applies to all XM broker account types, apart for the Shares Account.

What are XM account types?

• Micro account – Ideal for beginners with lot sizes set at 1,000; 11 base currencies; no commission but wider spread.

• Standard Account: Standard lot levels at 100,000; 11 base currencies; no commission but wider spread.

• XM Zero Account: Professional-level trading account with $3.5 commission for each $100,000 of trade volume with near-zero spreads; lower leverage levels than with Micro or Standard and only three base currencies.

• Ultra-Low Account: Access is limited to non-EEA traders and combines the benefits of both Micro and Standard account classes; no commission but with lower spreads; six base currencies.

• Shares Account: Trade shares for up to 100 companies on exchanges in the US, the UK and Germany; access limited to non-EEA and non-Australian clients; single USD base currency; spread and commission per the underlying exchange; minimum deposit is $10,000; no leverage.

• Islamic Account: Per Sharia law; if you need a swap-free trading account, XM can accommodate your needs.

• Demo Account: Available for all trading accounts on MT4 or MT5 trading platforms. Although trading on a demo system closely simulates real trading conditions, volume and psychological considerations may come into play when trading in real time.

When  setting up an account with XM, a trader must first select whether to have an MT4 or MT5 trading platform. A trader may have more than one single account, but the actual account classifications depend on the operating subsidiary that you are able to access. 

Regulatory restrictions determine which account may service your needs. The company has offices in three jurisdictions:

• Limassol, Cyprus (HQ)
• Sydney, Australia
• Athens, Greece

It also has a registered office address in Belize City, Belize. The Micro Account and Standard Accounts are available from all locations. When it comes to which XM account type is best for you, it will depend on your country of residence and your individual needs. Traders may open more than one account, if necessary.

Accounts serviced out of Belize may also have access to the firm’s Ultra Low Account and special Shares Account, which permits direct trading in stocks in a limited portfolio. EEA traders cannot access these account types, and Australian residents are unable to access the Shares Account.

Demo accounts are also a standard issue with XM, and if you are of the Muslim faith and require a swap-free Islamic account, XM can also provide this for you. All accounts also receive Negative Balance Protection benefits.