Table of contents:
- 1 The XM.com demo account at a glance – classic demo version on offer
- 1.1 Two accounts at XM.com in the selection
- 1.2 Therefore, the use of a demo account is helpful
- 1.3 Registration for the XM.com Demo
- 1.4 Verification required for real money account
- 1.5 The demo for MetaTrader 4
- 1.6 Trading platform for PC, web or mobile
- 1.7 The demo for the MetaTrader 5
- 1.8 Extensive range of financial instruments
- 1.9 Mobile trading – get familiar with the interface
- 1.10 Mobile demo access also with the MetaTrader 5
- 1.11 The additions to the XM.com demo account
- 1.12 Take advantage of learning videos at XM.com
- 1.13 Get to know the tradable values at XM.com
- 1.14 The advantages of XM.com at a glance
- 1.15 The customer service at XM.com – support in 25 languages
- 1.16 Various points of contact in the individual areas
- 1.17 Conclusion: The XM.com demo account offers full access to the trading platform
XM.com has set up an extensive demo account for the traders. The broker provides the use of various trading platforms and more than 1,000 trading instruments. For traders the extensive offer is interesting. To work without risk and to get a first overview, there is the test account. This has a credit balance of up to 100,000 USD and can be used without a time limit. A comprehensive guide shows which advantages, apart from the 5 USD minimum deposit, it brings for traders and where the weaknesses still lie.
Facts about the XM demo account:
- 100,000 USD balance on the demo account
- A demo account is provided without a time limit
- MT4 and MT5 trading platforms for trading
- The mobile trading platform is offered
The XM.com demo account at a glance – classic demo version on offer
With the XM.com demo account, the broker offers traders the opportunity to get to know the platforms at their leisure and familiarize themselves with the trading instruments. The interest in Forex and CFD trading is also high among beginners. Although high returns can be achieved, losses are not uncommon. With a test account, traders should be able to open, monitor, and close their positions at their leisure. For this purpose, the broker offers 100,000 euros of virtual credit.
There is no expiration date for the XM.com demo. This means that even experienced brokers can continue to use the practice account and thus develop their strategies. However, the demo account will be closed if the trader has not been active for more than 90 days. At XM.com, however, it is possible to open a demo account again at any time. Traders can even have up to five accounts at the same time.
This is definitely a reasonable offer. Experienced traders often build up several strategies that they use. However, to be able to develop them, multiple accounts are a great help.
Two accounts at XM.com in the selection
In general, XM.com offers two different real money accounts. The minimum deposit depends on the selected trading account. It ranges from 5 USD up to 100 USD. The XM AU account and the XM CY account are offered. There are differences in terms of leverage and regulation, among other things.
Therefore, the use of a demo account is helpful
Using an XM.com test account is an effective way to get a good start in trading. Generally speaking, practice accounts are one of the offers available through brokers today. The idea behind it, that traders can get an overview of the trading possibilities without risk, work out strategies, and get to know tools, is still valid today. In summary, the following advantages are evident:
- Trading without losses: The fear of high losses is always present when trading. Therefore, the recommendation is to use only the capital whose loss is no problem for the trader. However, it is also important to be able to deal with trading extensively. This is possible with the test account without losses.
- Perform risk management: Risk management reduces losses. Therefore it plays a big role with the demo account. Traders can find out at their leisure how to hedge their positions. At XM.com they have no time limit for this.
- Get to know the trading platform: Working with the trading platform is the basis for trading. It is important that the trader gets to know it and knows how to use it effectively.
- Gain experience: Traders can gain extensive experience not only when they open real money positions. Via the demo platform, it is also possible to observe how positions develop and what can have an influence on prices.
Traders also have the opportunity to use the available tools and check which ones are helpful for their own strategy.
Registration for the XM.com Demo
Registering for an XM.com demo account is quick and easy online. Basically it is not necessary for the trader to register for a real money account. He can therefore use the XM.com test account to check whether he wants to become active with real money via the broker.
The registration for the demo version is done via the website using a form. Personal information must be provided. Up to five demo accounts can be opened. You will be asked to enter your name, address, telephone number, and e-mail address. In addition, the preferred language is indicated, since the broker makes its services available in different languages.
Within the trading account information, the trader decides what type of trading platform he wants to work with, what type of account he selects, and what his base currency is. In addition, the leverage and investment amount can be selected. Depending on the selected account type, even up to 5,000,000 USD investment amount is possible. All that remains to be done now is to select an account password before the start of trading can begin.
Verification required for real money account
Finally, in order to be able to use a real money account, verification is necessary. Since real money is not yet used on an XM Forex demo account or XM CFD demo account, this is not necessary here. As part of verification, traders are required to identify themselves and provide proof of their address.
The demo for MetaTrader 4
When registering a demo account, traders choose whether to take a demo for MetaTrader 4 or MetaTrader 5. Both variants are technically very good prerequisites for trading. The MetaTrader 4 is listed as a classic. It is the leading trading platform, which is provided by various brokers.
Trading is possible with a leverage of up to 1:30. The broker provides more than 1,000 financial instruments. In addition, spreads are offered from as little as 0 pips. Options traders can check if they want to create Micro Lot accounts. The interface of the trading platform can be customized. This has the advantage that traders can optimize the interface for their strategies.
Trading platform for PC, web or mobile
The MetaTrader 4 is very broad in terms of the possible uses. It can easily be used as a WebTrader. However, there is also the option to use it for Mac or for the mobile application. Furthermore, MetaTrader 4 offers the option to work with automated trading systems.
With this option, the specified strategies are implemented via an automated system. Not only experienced traders like to use this option. Beginners, who are very strongly guided by their emotions, often have difficulty in orienting themselves to their strategies. This increases risk. This risk can be reduced by automated systems.
The demo for the MetaTrader 5
The XM.com Demo Account can also be used for MetaTrader 5. This was originally developed as a follow-up version of the MT4 but now stands alone as a trading platform. The MT5 can also be used as WebTrader. It is also available as a mobile version.
A download for the PC version can also be used by the traders. If access to the MT5 is available, seven platforms can be accessed from here. With the MT4, a multi-terminal is also offered, which is not available with version 5. Interesting is the offer around the technical analysis. More than 80 different instruments can be used to work out the strategy.
Extensive range of financial instruments
XM.com offers a wide range of financial instruments. The broker works with more than 1,000 different financial instruments. Via MT5, CFDs can be opened on stocks or precious metals, on energies, and even on digital currencies. The XM.com demo gives traders an overview of the trading opportunities and allows them to take advantage of the market depth with the help of current quotes.
Tip: Traders who are still unsure which financial instruments they would like to work with can perform various tests via the XM.com Demo Account. Here too, the advantage is that the broker allows several practice accounts next to each other. This allows traders to follow the development of their positions even more clearly and adjust their own strategies.
Mobile trading – get familiar with the interface
The XM.com Demo Account can also be used for mobile trading. The MT4 Trader for Android or iOS is completely tailored for use via mobile devices. It offers the complete functionality of the account. There are no restrictions compared to the WebTrader or the PC version.
Three different chart types can be used via mobile devices. By offering 30 different technical indicators, traders are also very well positioned in terms of analysis. In the app, the complete reports can be accessed, which are available for trading history. An integrated news function also keeps traders up to date with the latest developments in the market. These have a potential impact on price developments.
Mobile demo access also with the MetaTrader 5
A mobile version is also available for MetaTrader 5. Via this platform, more than 1,000 different financial instruments can also be used. The accounting functionality is completely given. Traders do not have to expect any restrictions. Due to the integrated tools, which can be used for market analysis, the elaboration of a strategy is also possible via the mobile devices.
Important: Depending on what account access is available, only the appropriate mobile variant can be used. So if you would like to test the MT5, but have an MT4 account, you need to set up a MetaTrader 5 access. If access is available, the registration can be done directly:
- Trading tools from XM.com
In the research area, the broker offers various tools that traders can use for analysis and strategy development. These tools are:
- Free Forex Signals
The free signals for Forex trading are only available in the member area. Daily reporting is offered. Currently, this is available in German for ten financial instruments. The delivery takes place twice a day. However, this only applies if the trader has a real-time account. In addition, signals for Stop Levels and Take Profit are issued. The creative mind behind these signals is Avramis Despotis.
- Automated trading
The automated trading MQL5 serves as a source and basis for using the trading signals of various providers. Only the signals of the providers that have already been tested for more than one month are displayed. The developers of MetaTrader provide the tool for automated trading. This makes it possible to access the trading signals via the respective platforms.
- Economic calendar
The live economic calendar is an important indicator for traders of what dates are coming up in the economy. The dates summarized here give an indication of whether or not there may be an impact on the prices of trading assets. This is a live display. Real-time adjustments are available here.
The fourth tool is the various calculators provided by XM.com. The calculators offered are total calculators, currency calculators, margin, and pip value calculators. A profit and loss calculator is also available.
The additions to the XM.com demo account
The XM.com Demo Account is an important basis for education and training. In addition, the Broker also provides a learning area, although this is partly in English. The live training can be particularly effective for traders. However, the “Education Rooms” area is completely in English. A distinction is made between training for beginners, advanced, and experts. The courses are offered from Monday to Friday.
For beginners, there is information on the most important terms and introductions to the trading platforms. Experienced traders benefit from new insights into strategy options, while experts can delve even deeper into the subject matter in live trading. The broker also offers forex webinars. A list on the website allows you to view the current dates.
Take advantage of learning videos at XM.com
An alternative to the webinars is the learning videos. They are particularly interesting for traders who want to remain flexible in their training and further education. The videos can be viewed at any time. The range of learning videos is particularly broad.
There are, among other things, extensive videos on the tools of the trading platforms, on chart analysis as well as all about building a strategy and the use of automated trading systems. The learning offer of the platform is rounded off by Forex seminars and workshops which can be taken advantage of on-site. They are held in Thailand, Chile, Colombia, Malaysia, and the Philippines. The number of places is limited.
Get to know the tradable values at XM.com
In an XM.com demo account, access can be gained to all tradable assets. There is a wide range of options available from brokers. This is how traders select:
- Forex: More than 50 currency pairs are available. Here, traders can choose between main currency pairs, exotics, and cross rates. Trading can take place five days a week around the clock. Traders have the possibility to work with a leverage of up to 1:30. An overview of spreads and trading conditions is also available for traders who are not yet registered.
- Shares: CFDs on shares can be opened on XM.com. Traders can choose from stocks from different countries. They get direct access to the global stock markets and can bet on both up and down trends. Trading in stocks with this broker is possible for both short and long-term strategies.
- Commodities: Very popular trading stocks are commodities. These are also offered at XM.com. Traders can open their positions on the price developments of cocoa or coffee, cotton, and also sugar or wheat.
- Stock Indices: In addition to stock trading, XM.com also offers trading in stock indices. The advantages are similar to the advantages of investing in stocks. Via the website you can see which maximum trading sizes are available.
- Precious metals: Gold and silver are available as precious metals. Trading in precious metals is considered a very stable way to hedge positions. The low price fluctuations are positive.
- Energies: Trading with CFDs on energies is also possible.
The advantages of XM.com at a glance
Offering a demo account from XM.com is just one of the benefits provided by the broker. Even though a demo account is very popular, it is often not the deciding factor when deciding for or against a broker. It is the complete offer of the broker that is of interest to traders.
XM.com acts as an experienced and regulated broker and is internationally active. It addresses beginners and also experienced traders. By offering more than 1,000 different trading values, flexibility is very good. Further advantages of the broker are:
- The account opening is already possible with a minimum deposit of 5 USD.
- The broker offers the option of opening not only one but also several trading accounts.
- There is a protection against the creation of a negative balance.
- Orders will not be rejected. Requotes do not exist.
- Spreads are very tight and start at 0 pips. The pip prices themselves are displayed in fractions.
- The trading platforms are modern and technically up to date. With one access, several variants can be accessed, like the mobile offer. The real-time market execution is also interesting for traders. Around 99% of all orders are executed directly in one second after opening. In addition, deposits and withdrawals at XM.com are possible free of charge.
The customer service at XM.com – support in 25 languages
Even though XM.com is an international provider, support is still available in German. More than 25 languages are offered. Contact details can be viewed via the website. A live chat is not offered by the broker. Nevertheless, quick help is possible. The customer service is available five days a week around the clock. Telephone support is offered. In addition, an e-mail address can be found on the website, which can be used to contact the provider. The support is available around the clock within the week. However, the website does not show how quickly replies to a written inquiry are received. In general, however, the broker is quite fast in answering questions and problems.
Various points of contact in the individual areas
At XM.com the support is particularly well divided. The aim is to be able to answer customer queries as quickly and effectively as possible. Therefore, there are different telephone numbers and mail addresses for the individual areas. In addition to customer service, a sales department is also offered. There are also contact details for the personnel department and the back office.
Customer service also has a separate section. It is important to know that the working hours can vary here. In the customer service department, support is only provided during the week from 7.00 am to 4.00 pm CET. This is the direct support for traders who already have a trading account with the broker.
Conclusion: The XM.com demo account offers full access to the trading platform
When viewing the demo of a broker, there are several points that may be of interest. In addition to the virtual balance and the term of the account, these include the question of whether there are any restrictions on access. As a broker, XM.com provides the trading platforms MT4 and MT5. These platforms are very popular, but also offer extensive functions. What is an advantage for the trader can be a challenge, especially at the beginning. After all, he must first get to know the tools.
The test has shown that the XM.com demo account offers full access to both trading platforms. This means that the functions can be completely tried out via the practice account. This way, traders can create a strategy without any risk of loss, learn how to trade new instruments, and become familiar with the trading platform. The broker also provides further information on these topics via the training area. This is also very broadly based and primarily offers seminars and webinars on various topics.
Registering with the Broker proves to be particularly simple and effective. For the trader, not much effort is required to open an account. The change to a real money account is also quick. The minimum deposit amount is kept very low. The demo version at XM.com is not only interesting for beginners who would like to familiarize themselves with trading first. Even experienced traders like to work with a test account.
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