XM Trading is one of the world’s most popular Forex companies. Because of its popularity, people of various occupations and social statuses are trading. Many people who are considering opening an FX account may be worried that they will fail the examination due to “age restrictions” or “occupation”. XM’s account opening examination is loose, so there is no problem even if you are a freeter or a housewife.
How to open an account and procedures
Please refer to the article below for information on how to open an account with XM. We also collect the necessary documents.
Accounts can be opened from the age of 18
At XM, you can open an account from 18 years old.
Anything is ok as long as you meet the age. It can be unemployed, part-timers, housewives or any occupation. Although the application form does include an occupation, this aspect is not the most important. If anything, in the case of XM, I am more concerned about whether false information is written than my identity. If false information is discovered, even if you can open an account, the account may be frozen after that, so please be careful.
no parental consent required
At XM, even minors can open a Forex account without parental consent. Even if you tell your parents that you want to open a Forex account and say “I don’t want to be opposed” or “I don’t want to make you worry”, there is no problem. There is nothing wrong with opening an XM account, but I am grateful that I don’t have to bother to get my parents’ consent.
Lax account opening criteria
Why is XM’s account opening standards so loose? This is because there is no loss greater than the deposit amount. At XM, no matter how much you lose in Forex, you will not be in debt, so the examination is simple. Furthermore, from the company’s point of view, the real intention is to ask many people to open an account and trade. Therefore, as long as you meet the requirements of being over 18 years old, you can easily pass the examination. The reason for the loose screening is that it is safe with a zero-cut system that does not lose more than the deposit amount.
income doesn’t matter
I mentioned above that occupation is irrelevant, but I don’t really look at income either. Because it is easy to open an account even if you are unemployed. Therefore, income is not very important. In addition, when you open an account with XM Trading, you can start trading for free because you will receive an account opening bonus of 3000 yen. If you are a beginner, it will melt in no time, but if you are an experienced person, you can increase it from this money.
Adoption of zero cut system
XM uses a zero cut system with no margin call. In other words, there is no additional proof. Margin means “additional margin”. If the margin becomes negative due to sudden market fluctuations, etc., it is necessary to deposit additional margin. You will be incurring a so-called “debt”. In the unlikely event that the account becomes negative, XM will bear the negative amount.