Recently, the number of underage and student traders earning several million yen a month has increased significantly. It seems that there are quite a few people who have been studying Forex and stocks since high school. The barrier here is the age limit of FX dealers, and any investment has risks, so minor high school students basically cannot use FX dealers. XM is no exception.
- age limit
- Precautions when using by minors/students
- XM demo account only for under 18s
- Anyone over 18 years old can open a real account
- Difference between demo account and real account
In conclusion, you can only trade at XM if you are over the age of 18.
parental consent form
XM Trading is open to anyone over the age of 18 and does not require parental consent. If you are 18 years old, you can open an account by yourself without parental consent.
Conditions and procedures are the same for minors and students
Account opening conditions and procedures are the same for minors and students. Basically, you can open an account after entering your personal information and completing your identity verification.
When verifying your identity, you need to submit “identity verification documents” and “address verification documents”, so if you do not have them, you need to ask your parents to prepare them.
Education is irrelevant
XM’s identity verification is subject to review, but education background and total income are irrelevant. Please be assured that even students with no annual income or assets will basically not be screened.
Precautions when using by minors/students
I will explain the precautions when minors and students use it.
Using XM under someone else’s name is against the rules
If you find out, you will receive treatment such as profit cancellation and account freeze.
I can’t use my student ID
Student ID cards cannot be used as identification when students open an account. In addition to your student ID card, you will need to prepare two documents: an “identity verification document” and an “address verification document”.
Identity verification documents
Driver’s license/driving career certificate
my number card
Alien registration card
Special permanent resident certificate
Handicapped person’s notebook
address verification documents
Health insurance card
Certificate of residence
Seal registration certificate
Utility bill or receipt, etc.
Landline/mobile phone bill or receipt, etc.
Credit card/bank statement
Tax notification such as tax payment notification (receipt)
payment of taxes
Even minors and students need to pay taxes if they earn with XM. Please keep in mind that the criteria for filing a tax return differ depending on whether you have income from part-time jobs or the like.
XM demo account only for under 18s
Even if you are under the age of 18, you can open an XM demo account. Practice using a demo account.
Anyone over 18 years old can open a real account
If you are over 18 years old, you can trade with a real account. This makes it possible to trade without any problems even if you are unemployed or a housewife. The following article introduces real account trading. Please try to reference.
Difference between demo account and real account
There are several differences between a demo account and a real account.