[XM Trading: For Beginners] Characteristics and Comparison of Micro Accounts

XM Trading has an account type called micro account. Micro account is a minor account type because there are not many users who open it, but it has merits, so it is one of the account types that can be recommended to open.

micro account

Micro accounts can be said to be a relatively minor account type, with only about 10% of users opening XM accounts. Most users choose the standard account. The standard account is orthodox and has a clear feature that it is suitable for beginners, but what are the features of the micro account?

[XM Trading: For Beginners] Standard account features and benefits

I think that there are a lot of people who are worried about what type of account to open an account with XM. The standard account is a trial account type that is highly recommended for beginners and those who are new to XM Trading. Since you can open multiple accounts, you can also create other account types after opening.

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2023.02.07

bonus spreads

Spreads tend to be exactly the same as standard accounts. Since the spread of the micro account is basically the same as the standard account, the advantages and disadvantages are the same as the standard account, and it is not suitable for scalping.

[XMTrading: For FX Beginners] Latest bonus types and campaigns Thorough explanation of how to open an account and receive deposit bonus

Among the many Forex companies around the world, XM is said to be one of the Forex companies with a substantial deposit bonus. There are three types of XM bonus campaigns: "account opening bonus", "deposit bonus" and "loyalty points". I will explain the main contents.

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2023.01.01

In addition, bonuses and leverage are the same as standard accounts. The deposit bonus is exactly the same as standard, and you can get 20% and 100% bonuses. And the loyalty program is the same, and like the standard account, points are awarded.

1 lot is 1000 currency

The biggest feature of Micro account is that 1 lot is worth 1000 currency. There is a 100-fold difference in the amount of currency with 1 lot on the standard account. 1 lot of the standard account is 100,000 currency, which is 100 times that amount. Be careful when placing an order because there is a considerable difference between the micro account and the standard account even for the same 1 lot. It can be said that it is one of the accounts for beginners because it is an account type for users who want to do small amount transactions and trial transactions.

[XM Trading: For Forex Beginners] Maximum Lot Number and Number of Positions by Account Type

Introducing the maximum number of lots and maximum positions of XM. XM has several account types, but each account type has a different number of positions and lots. Let’s take a look at each XM trading account type.

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2023.01.03

Zero cut system

XM has adopted a zero cut system for all account types. When trading with high leverage, if you are caught in a sudden market fluctuation and the forced loss cut does not work, there is a possibility that a negative amount exceeding the account balance will occur. In the case of the zero cut system, XM compensates for the negative amount, so there is no risk of incurring debt.

[XMTrading: For FX beginners] Zero cut system activation conditions Negative reset timing

XM Trading system adopts zero cut. By adopting the zero-cut system, even if a loss exceeding the effective margin of the trading account occurs due to sudden price fluctuations, etc., no additional call will be made, making it a fairly gentle system.

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2023.01.03

Account type comparison

Please refer to the following article for a comparison of micro accounts and other account types. I’m putting out a comparison table, so I think it’s helpful.

[XM Trading: For Forex Beginners] Comparison of Account Types and Differences

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.

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2022.12.31

Disadvantages of micro accounts

The disadvantages of micro accounts are similar to those of standard accounts, so they have similar disadvantages.

Not suitable for scalping

As explained above, micro accounts are not suitable for scalping due to their wide spreads. It is suitable for methods that settle in a few hours like day trading, or in a few days to weeks like swing trading. Not suitable for short-term matches.

Multiple openings

Micro accounts are not limited to one person. At XM, each person can open up to 8 accounts. Therefore, it is possible to open multiple accounts of the same type even with micro accounts.

[XMTrading: For FX Beginners] How to open multiple and additional accounts - Thorough explanation of procedures and precautions

XM Trading allows you to split your funds into multiple accounts and trade by opening additional accounts. At XM, one person can hold up to 8 accounts, so you can open multiple accounts with different account types and trading platforms and use them for different purposes. To open an additional account with XM, you must first open a real account.

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2023.01.08

can’t earn big

Micro accounts have the advantage that the currency unit is small, but conversely, you cannot earn a lot. Since the currency unit is small, even if you enter with the same 1 lot, the loss amount will be smaller than the standard account or zero account, but you can not earn big. Therefore, it can be said that it is an account for beginners who want to reduce risk.