XM accounts comparison and the guidelines of account opening selection

Micro AccountStandard AccountXM Swap Free AcountXM Ultra Low Account
Base Currency OptionsUSD,EUR,THBUSD,EUR,GBP,JPY, CHF,AUD,HUF,PLN, RUB,SGD,ZAR,THBUSD,EUR,THBEUR,USD,GBP,AUD, ZAR,SGD,THB
Contract Size1 Lot = 1,0001 Lot = 100,000Standard 1 Lot = 100,000 Micro 1 Lot = 1,000Standard Ultra 1 Lot = 100,000 Micro Ultra 1 Lot = 1,000
Leverage1:1 to 1:888 ($5 - $20,000) 1:1 to 1:200 ($20,001 - $100,000) 1:1 to 1:100 ($100,001 +)1:1 to 1:888 ($5 - $20,000) 1:1 to 1:200 ($20,001 - $100,000) 1:1 to 1:100 ($100,001 +)1:1 to 1:888 ($5 - $20,000) 1:1 to 1:200 ($20,001 - $100,000) 1:1 to 1:100 ($100,001 +)1:1 to 1:888 ($50 - $20,000) 1:1 to 1:200 ($20,001 - $100,000) 1:1 to 1:100 ($100,001 +)
Negative balance protection
Spread on all majorsAs Low as 1 pipAs Low as 1 pipAs Low as 1 pipAs Low as 0.6 pips
Commission
Maximum open/pending orders per client200 Positions200 Positions200 Positions200 Positions
Minimum trade volume0.01 Lots (MT4) 0.1 Lots (MT5)0.01 LotsStandard 0.01 Lots Micro 0.1 LotsStandard Ultra 0.01 Lots Micro Ultra 0.1 Lots
Lot restriction per ticket100 Lots50 LotsStandard 50 Lots Micro 100 LotsStandard Ultra 50 Lots Micro Ultra 100 Lots
Hedging allowed
Swaps
Admin Fee*
Minimum Deposit$5$5$5$50

*****After a predefined grace period which varies and depends on the instrument traded, a daily administration fee is incurred for any open trades on forex, gold and silver. The admin fee charged per instrument is the same for both long and short positions, applied 7 days a week at 00:15 GMT+2 wintertime/GMT+3 summertime, as well as charged in USD and converted, if required, into the account base currency. Kindly be advised that admin charges and grace periods are subject to changes depending on market conditions.

Please see more details about processing fee and grace periods for Forex instruments (here), gold,  silver (here).  Please note that processing fee and grace periods are able to change, depending on market conditions.

Delve into XM accounts

Account Types

MICRO ACCOUNT

Description

  • Minimum deposit: $5
  • Consider it to be a psychological marketing tactic. It leads to low loss (also low profit) because of 1 lot=1,000.  
  • Recommended trading: 0.5 lot (100 times of Standard account)
  • People who normally trade by a common account might not be familiar with it. They need to adapt themselves to the MM system because lot size differs from other accounts. 
  • Gold symbol: GOLDmicro

Advantage

  • Server is quite good and fast. 

Disadvantages

  • Wide Spread, especially the gold (on the average 330, comparing to Exness, it is highly expensive.) 
  • Wide Spread such as EURUSD (on the average 19)
  • Swap 80%: Both are negative.

Standard account 

Description

  • Minimum deposit: $5
  • It is not different from Micro account. 
  • Very close to Micro account.
  • The difference is only 1 Lot = 100,000

Advantage

  • Server is quite fast.

Disadvantages

  • Wide Spread: equal to Micro (17- 25 major currency pairs)
  • Swap 80%: Both are negative. 
  • Pending settings for each currency pairs, limit settings are not equal.
  • For more details about the number of pips to be sent as order for each currency pairs. Please see the Limit and Stop levels in this link https://www.xm.com/forex-trading.
  • Setting a pending order is not stable. There are many conditions, so it’s hard to set a pending order.

XM Swap Free Account

Description

  • Minimum deposit: $5
  • Free Swap
  • Similar to Micro and Standard account

Advantage

  • Server is quite fast. 

Disadvantages

  • Wide Spread

*****After a predefined grace period which varies and depends on the instrument traded, a daily administration fee is incurred for any open trades on forex, gold and silver. The admin fee charged per instrument is the same for both long and short positions, applied 7 days a week at 00:15 GMT+2 wintertime/GMT+3 summertime, as well as charged in USD and converted, if required, into the account base currency. Kindly be advised that admin charges and grace periods are subject to changes depending on market conditions.

Please see more details about processing fee and grace periods for Forex instruments (here), gold,  silver (here).  Please note that processing fee and grace periods are able to change, depending on market conditions.

XM Ultra Low Account

Description

  • Minimum deposit: $50
  • XM Ultra Low Micro : symbol of currency (currency): m#
  • XM Ultra Low Standard: symbol of currency (currency): #

Advantages

  • Server is fast. (it might be fast because it does not directly send the data to the market). 
  • Spread is lower than Micro (MT4) and Standard (MT4), when comparing opening orders at the same time, it’s less than half.
  • Recommended  

Disadvantages

  • Swap is quite expensive. 

Suitable for : short-term trading (Day Trade) or Scalping

Summary of XM account

For XM: XM Ultra Low Standard is recommended. 

This account is highly suitable for Day trade or short-term trading.

Reference

Writer : Yoda Yoshida

  • Position : Editor
  • Biography : Former waiter to professional traders
  • Experience : 20 years in the Forex industry
  • Goal : To select the best broker for traders.
  • Short greetings : Some things take time to grow.
  • Full biography of the writer, Click >

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