XM Demo Account does offer a demo trading account for beginner traders. The Demo account interface is ideal for traders who want to learn to trade without incurring any trading risks or losses. XM clients can practice forex trading in a 100% risk-free environment.
Min Deposit
USD 5
Regulators
FSC, CySEC, ASIC,
Trading Platform
MT4, MT5
XM Demo Account – 7 key points quick overview:
Overview
XM does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The XM demo account does not expire. The XM Demo account is virtually funded and simulates real trading conditions.
XM At a Glance
| 🔎Broker | XM |
| Company Information | |
| 📅Year Founded | 2009 |
| 🧑🏻💻Amount of staff | Over 900 |
| 📌Current CEO | Constantinos Cleanthous |
| 🌟Founder/s | Constantinos Cleanthous |
| 👩💻Amount of active traders | Over 10 mil |
| 🌐Publicly Traded (Listed Company) | No |
| Regulation and Security | |
| 🛡️Regulation | CySEC, ASIC, IFSC, DFSA, FCA |
| 🌎Country of regulation | Cyprus, Australia, Belize, Dubai, UK |
| 💻Account Segregation | Yes |
| 🪫Negative balance protection | Yes (for European clients under CySEC regulation) |
| Two-step Authentication | Yes |
| 🔋Investor Protection Schemes | FSCS (up to £85,000) for UK clients under XM UK (regulated by FCA) |
| Account Types and Features | |
| ➕Accounts | Micro, Standard, XM Zero (all come in MT4 & MT5 versions) |
| 💳Institutional Accounts | Yes |
| 👨💼Managed Accounts | Not offered |
| 📇Minor account currencies | USD, EUR, GBP, JPY, etc. |
| 💰Minimum Deposit | From USD 5 |
| Trading Conditions | |
| 🕞Average deposit/withdrawal processing time | 1 business day (may vary) |
| 🪙Fund Withdrawal Fee | $0 |
| 📊Spreads from | 0.8 pips |
| 💸Commissions | No commission on trades (except for stock CFDs) |
| 💱Number of base currencies supported | More than 11 (USD, EUR, GBP, AUD, etc.) |
| 🚀Swap Fees | Overnight financing fees apply |
| 📈Leverage | Up to 1:1000 |
| 📏Margin requirements | As low as 1% |
| ☪️Islamic account (swap-free) | Yes |
| 💻Demo Account | Yes |
| ⌛Order Execution Time | Ultra-fast (average under 1 second) |
| 📆VPS Hosting | Yes (free if minimum requirements met) |
| Trading Instruments | |
| 🧾CFDs-Total Offered | Over 1,000+ |
| 🗠CFD Stock Indices | Major global indices 30+(e.g., S&P 500, FTSE 100) |
| ⚖️CFD Commodities | Popular commodities 15+ (e.g., gold, oil, natural gas) |
| 📜CFD Shares | Yes,600+ Shares of listed companies (exact number depends on regulations) |
| Watchlist | Yes |
| 📱Trade Alerts | Yes |
| 🔄Trading Stocks with GP | Yes |
| 🔄Trading Indices with GP | Yes |
| Swap on Trading Board | Yes |
| Deposits and Withdrawals | |
| 💳Deposit Options | Credit/debit cards, bank transfers, electronic wallets (Skrill, Neteller etc.), regional options |
| 💵Withdrawal Options | Credit/debit cards (limited to amount deposited with them), bank transfers, electronic wallets (subject to original deposit method), regional options |
| 🎁Welcome Bonus | Yes (region dependent) |
| Trading Platforms and Tools | |
| 🔧Stop-loss Instrument | Yes |
| 💻Trading Platforms | MT4 (MetaTrader 4), MT5 (MetaTrader 5), XM WebTrader |
| 👩💻OS Compatibility | Windows, Mac, Android, iOS |
| 🖥️Forex trading tools | Technical indicators Market analysis tools Auto trading (Expert Advisors - MT4 only) Algorithmic trading (limited - MT5 only) Trading calculators Economic calendar Sentiment analysis (limited) |
| Customer Support | |
| 🗣️Live chat availability | Yes, 24/5 |
| 📱Customer Support email address | support@xm.com |
| 📞Customer Support Contact Number | 35725029933 |
| 🗣️Languages supported on Website | 30+English, Malay, Chinese (Simplified & Traditional), Greek, Hungarian, Russian, Indonesian, French, Italian, Swedish |
| Educational Resources and Support | |
| 📍Beginner Trader Friendly UX | Yes |
| 🖺Forex course | Yes, XM offers a forex course for beginners. |
| 🧏♀️Webinars | Yes |
| 📚Educational Resources | Yes, XM provides a library of educational resources including articles, videos, and glossaries. |
| Partnerships and Programs | |
| 🪪Affiliate program? | Yes |
| 👨🏫Amount of partners | 10000+ |
| 📋IB Program | Yes |
| 🏃♂️➡️Do they sponsor any notable events or teams? | Yes, XM sponsors various events and teams |
| 🪙Rebate program | May offer occasional rebate promotions, check their website for current offers |
| 🗞Community Forum | No |
| Official Website and Social Media | |
| 📧Official Website Address | www.xm.com |
| 📱Official Facebook Page | Yes |
| 📱Official Twitter Page | Yes |
| 📱Official YouTube Channel | Yes |
| 📱Official LinkedIn Page | Yes |
| 📱Official Instagram Page | Yes |
| South African Trader Specific Information | |
| Does XM Accept South African Traders? | Yes, XM accepts South African traders. They have a dedicated South African branch, XM ZA (Pty) Ltd, which is authorized by the Financial Sector Conduct Authority (FSCA) with authorization number 49976. |
| Is XM regulated by the South African regulatory body (FSCA)? | Yes, For South African clients, XM operates under the regulation of the FSCA through their South African branch, XM ZA (Pty) Ltd. This ensures adherence to local regulations for client protection. |
| Does XM offer an Affiliate Program for South African Traders? | Yes, XM offers an affiliate program for South African traders. You can find more information about it on the XM ZA website or by contacting their support team. |
| Does XM allow opening trading accounts in ZAR (South African Rand)? | Yes, XM allows opening trading accounts in ZAR (South African Rand). This makes it convenient for South African traders to deposit, trade, and withdraw funds without currency conversion fees. |
| 👉Open Account | 👉Open Account |
How to set up an XM Demo Account – Step by Step
Step 1 – Register an account.
Navigate to the XM website and click on the ‘Open a Demo Account’ banner on the homepage.
Step 2 – Complete the form
Traders will be redirected to a new page where they will need to provide personal details such as their Country, Email, and Password.
Step 3 – Select the trading account
Next, the trader will need to complete the trading account details by selecting the trading platform type, account type, account base currency, leverage, and virtual investment amount.
Demo Account Features
The XM demo account features will depend on the trading platform that the trader uses, whether MetaTrader 4 or MetaTrader 5, in conjunction with the demo account.
In other words, the demo account features can be accessed through the trading platform and will depend on XM’s offering with regard to asset classes, financial instruments, spreads, leverage, and so on.
Both MetaTrader 4 and MetaTrader 5 are powerful, comprehensive, user-friendly, and highly customizable trading platforms that cater extensively to the trading needs and objectives of traders despite their varying levels of skill, knowledge, and experience.
The platforms offer an array of features which include, but are not limited to:
| 🟢 Interactive and intuitive charting capabilities |
| 🟢 The ability to use analytical tools, a variety of technical tools, and drawing tools to tweak charts according to the needs or objectives of the traders. |
| 🟢 Automated trading capabilities, more commonly known as Expert Advisors, or EAs. |
| 🟢 The ability to download more tools, indicators, and EAs. |
| 🟢 The freedom to create EAs through the sophisticated and advanced MQL5. |
| 🟢 The ability to conduct comprehensive and thorough technical and fundamental analysis through the tools and information readily available. |
| 🟢 The ability to create, test, and implement a variety of trading strategies in a risk-free environment where the trader’s own capital is not at risk. |
These are but a few features available at the disposal of the trader, and it is the perfect trading platform that aligns high functionality with XM’s demo account to provide traders with a mirrored version of a live account without the risk of incurring losses.
The demo account can extensively be used, given the timeframe in which it is available, by traders to test their trading strategies and the MetaTrader platforms make adequate provision for the simplest, and most sophisticated trading strategies.
The demo account, in addition, along with the use of the MetaTrader platforms, allows for the comprehensive exploration of XM’s offering and trading conditions by using the adequate virtual funds provided without incurring any losses.
Traders will need to acknowledge that the demo account will be available for only a certain amount of time and when converting the account, there is a separate account application form that must be completed.
This application form requires personal information, financial information, residential address information, and numerous other required information along with the trader being subjected to a ‘Know Your Client’ process which is mandatory.
The ‘Know Your Client’, more commonly known as KYC, process involves the submission of documents, such as ID and proof of residence, to validate the trader’s information and it forms part of the anti-money laundering, or AML, process as well.
These processes form part of the obligations and requirements imposed by XM’s regulatory entities and ensure that all trading activities are legal, fair, and strictly overseen, with random and frequent audits to verify compliance. View XM’s sign-up bonus.
Min Deposit
USD 5
Regulators
FSC, CySEC, ASIC,
Trading Platform
MT4, MT5
Customer Reviews
🥇 Good Experience.
I have had a good experience with this broker thus far.
No problem with withdrawals or deposits as they let you withdraw back to the bank account you used to deposit with. In addition, they offer the best and the fastest customer support.
🥈 Best Broker (Bonuses, Withdraws, Costs and Support)
XM is a good broker in terms of withdrawals, customer support, and bonuses. However, they could improve on their spreads, otherwise everything else is fantastic.
🥉 Good for Starters
One of the best brokers to start your forex journey. I think most newbies have tried this broker due to their heavy marketing. So far they have honored all my profit withdrawals without any problems. Customer support is very good and the platform is good too.
Pros and Cons
| ✅Pros | ❌Cons |
| Demo account sign up fully digital | None noted |
| Sign up is quick and hassle-free | |
| Metatrader 4 and Metatrader 5 are reliable, user-friendly trading platforms | |
| Demo Account mirrors the functionalities of the live account without any risks | |
| MetaTrader 4 and 5 provide ample opportunity for traders to explore XM’s trading conditions and offering |
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Frequently Asked Questions
What is the difference between a demo and a live trading account?
A demo account provides the trader with a practice account that can be used to practice trading in a risk-free environment. Demo accounts are often suited for beginners who need to build up experience with trading as well as advanced traders who would like to test their trading strategies and explore the offering of a broker before registering a live account.
Does XM offer a demo account?
Yes, everything you need to know about the XM demo account is here.
Can I convert my demo account to a live trading account with XM?
Yes. All that you have to do is complete additional information along with providing proof of ID and proof of residence. This can easily be done from the Client Portal/Secure Area.
Which live trading accounts does XM offer?
Micro Account – minimum deposit of $5 / Standard Account – minimum deposit of $5 / XM Ultra Low Account – minimum deposit of $50 /Shares Account – minimum deposit of $10,000.
What are the available deposit currencies for a live trading account?
USD / EUR / GBP / JPY / AUD / ZAR and more.
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