As of 2023, there are about 4 account types on XM. I will explain the differences between each, but if you are a beginner, we recommend starting with the standard account. This is because there are many people who don’t know the difference, and it’s preferable to change the steel type if you’re not happy with it after using it.
- XMTrading Features and Functions
- XMTrading basic account types
- Common terms and conditions
- Standard account for beginners
- KIWAMI pole account has narrow spread
- Micro accounts are recommended for small transactions
- Zero account is recommended for ECN method
- About Lot, Positon
- Trade Platform
XMTrading Features and Functions
XMTrading is a broker that ranks high in popularity overseas, and its basic information has many reviews online. Although it is not approved by Japan’s Financial Services Agency, it is an attractive company because funds are managed using a wallet, and security measures such as account login and password settings are in place. The maximum leverage is 1000x and can be changed. It has an overwhelmingly large number of users compared to exness, fxgt, etc.
Lots of bonuses and campaigns
XM offers a wide variety of bonuses and campaigns. There is also a loyalty program, XM points, and cashback. The latest campaign information is posted on the official page. Bonuses are not applicable to KIWAMI accounts for advanced users. Each receipt will be reflected in your wallet. In addition, demo accounts and corporate accounts are also available, so there is a lot of variety.
Many deposit and withdrawal methods
XM supports credit card, bank transfer, and online wallet deposits and withdrawals. Although it is not supported in some residential areas, it is recommended that you choose an online wallet as deposits and withdrawals can be made instantly. Frequently asked questions can be found on the official website, so you can easily find answers to your questions. It will take some time for it to be reflected. If you don’t know the cause, please contact support.
Zero cut system adopted
XM has a forced loss cut, but if the margin becomes negative, a zero cut system will be adopted. It is very convenient as XM will compensate you even if your balance becomes negative due to large losses due to economic indicators etc. while holding a position. There is no rejection of trades, and there are no restrictions on trading methods such as swinging or scalping as long as they do not violate any prohibitions.
XMTrading basic account types
XMTrading has four account types: “Standard Account,” “Micro Account,” “KIWAMI Koku Account,” and “Zero Account.” Compatible with MT4 and MT5, the usage of charts is the same for all. High leverage trading is possible, but if left unused for a total of 90 days, it will be treated as a dormant account. Standard accounts and micro accounts with bonuses allow you to trade cheaply. You can trade a wide variety of currency pairs with practice. You can add an account or create a demo account on My Page.
|Account type||Standard account||micro account||KIWAMI pole account||zero account|
|Maximum leverage||1,000 times||1,000 times||1,000 times||500 times|
|Minimum deposit amount||$5||$5||$5||$5|
|Bonus||New account opening bonus deposit bonus |
|New account opening bonus |
|New account opening bonus||New account opening bonus|
|Amount of currency in 1 lot||100,000 currency||1,000 currencies||100,000 currency||100,000 currency|
|Minimum order quantity||0.01 lot||MT4: 0.01 lot (10 currencies) |
MT5: 0.1 lot (100 currencies)
|0.01 lot||0.01 lot|
|Maximum number of orders||50 lots||100 lots||50 lots||50 lots|
|Number of stocks handled||[FX/currency pair] 57 stocks [FX/precious metals] 4 stocks [CFD/stock index] 30 stocks [CFD/Commodity] [CFD/Energy] 5 stocks||Same as left||Same as left||Same as left|
|transaction fee||free||free||free||$5 each way|
Common terms and conditions
XM is divided into each account type, but there are common conditions.
|Trading account currency||Japanese Yen, US Dollar, Euro|
|Loss cut level||20%|
|Apply zero cut||can be|
|Trading hours||[Daylight saving time]: (Monday) 6:05 a.m. – (Saturday) 5:50 a.m. (Japan time) [Winter time]: (Monday) 7:05 a.m. – (Saturday) 6:50 a.m. (Japan time)|
|Account maintenance fee||none|
|additional account||Up to 8 accounts in total|
Standard account for beginners
At XM, more than 80% of people choose the standard account as their first account. The reason why it is chosen first is that it is the best way to learn how to use an XM account because you can receive a deposit bonus and all the services of XM.
There are three types of XM bonuses: new account opening bonus, deposit bonus, and loyalty program (trading bonus), of which only standard and micro accounts can receive all three types. Zero account and KIWANI Kiwami account can only receive new account opening bonus.
KIWAMI pole account has narrow spread
KIWANI Kiwami account is XM’s newest account type, released in October 2022. It realizes better transaction costs than the zero account and is expected to become the main account type at XM in the future.
The KIWAMI pole account is the account with the lowest transaction cost because the spread is narrow because there is no bonus. Swap free without swap points, so you can trade without worrying about extra costs. Because the spread is narrow, scalping is also suitable.
The disadvantage is that the bonus is only given when the account is opened, and XM points are not given. Below is a spread comparison table between Zero account and KIWAMI Kiwami account.
|currency pair||zero account||KIWAMI account|
Micro accounts are recommended for small transactions
XM micro accounts allow you to trade smaller amounts and finer detail compared to other account types. The micro account has a trading volume of 1,000 currencies per lot, so it is possible to trade at 1/100th the size of other account types. It is recommended for those who want to avoid risks, those who want to trade with a small amount, and those who want to do a trial trade. Like the standard account, the micro account can receive all three types of XM bonuses (new account opening bonus, deposit bonus, loyalty program).
Zero account is recommended for ECN method
The XM Zero account is an account whose order execution method is the ECN method. Normally, the spread is close to zero, but during the time when the spread widens, the spread of the zero account spreads as well. This account is for large customers. Standard and Micro accounts have no transaction fees, so the only transaction cost is the spread, while the Zero account requires a fee of $10 per lot (round trip). Therefore, it can be said that it is a professional account.
About Lot, Positon
Regarding trading conditions, zero accounts and KIWAMI accounts are for professional investors. The lot size is large, the efficiency is good, and you can trade with major currencies. If you’re just starting out, learn about small-value trading with a standard or micro account, which is mostly for individuals. MT5 has versatile functions, including moving averages and Bollinger bands. You can easily trade with one button.
The trading platform handles MT4 and MT5.
|time frame||9 types||21 types|
|navigator window||can’t create folder||You can create any folder|
|operating speed||slower than MT5||Faster than MT4|
|Indicative price||Currency pair tick chart||View details and price boards|
|update||No updates since 2018||Update ongoing|
MT4 has not been updated since 2018. MT5 is superior in terms of functionality, but many people are accustomed to MT4 because there are few EAs and custom indicators, but considering the future, MT5 is better.