XM Account Opening

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XM is a trustworthy online broker with a beginner-friendly account opening experience. The service is entirely online and user-friendly. The average time required for account opening is 24 hours. 

XM FxPro FXTM
Rating5.0 stars5.0 stars5.0 stars
Account opening time1 day1 day1 day

This article discusses the XM account opening characteristics. 

Availability 

The main criteria to consider when selecting a brokerage firm is whether XM is available in your country. XM is available in 15 countries, including Australia, India, and the United Kingdom. 

Country Availability
AustraliaYes
CanadaNo
ChinaNo
GermanyYes
Hong KongYes
IndiaYes
IrelandYes
JapanNo
MalaysiaYes
NetherlandsYes
SingaporeYes
South AfricaYes
United Arab EmiratesYes
United KingdomYes
United StatesNo

Requirements 

XM has straightforward account opening requirements. To create an account with this broker, you’ll have to submit proof of residency and identity. XM has a fully digital account opening process done on the company’s website. 

When the registration is complete, you’ll have to transfer a minimum deposit to your new brokerage account. The minimum deposit fee at XM is $5. Remember that the initial commission varies depending on the funding methods you choose. Read our in-depth reviews to learn more about minimum deposit fees at XM. 

XM FxPro FXTM
Minimum deposit$5$100$50

Accounts 

A trustworthy online broker offers access to many account tiers. XM has accounts suitable for different levels of experience and trading skills. It allows you to trade in 11 base currencies. Check fees and account availability at XM in our in-depth reviews. 

XM FxPro FXTM
Base currencies1184

Opening Accounts 

The steps for opening a brokerage account at XM are simple. You have to choose an account tier, submit personal data, and upload proof of identity. After you go through these standard steps, you will review the information and sign a virtual contract. As soon as your brokerage account is approved, you will begin transferring funds. Once the transfer is complete, you’ll start trading. 

Final Verdict 

XM is a leading online broker because of its user-friendly account opening process. It provides a rapid service with a focus on user experience. Read our in-depth reviews to learn more about XM. 

XM compared to other brokers:

XM review


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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