XM has an account type called Zero account. This account type is said to have very narrow spreads and has the characteristic of making profits easily. It can be said that it is a very advantageous account type for scalping traders.
The biggest feature of the zero account is the narrow spread, which boasts an average narrowness of 0.1 pips. Therefore, the characteristics are very clear and it is quite suitable for scalping trades that want to make short-term settlements. When it comes to XM trading, many people have a strong image of wide spreads, but that is about the standard account, not the zero account.
The biggest merit of the zero account is that the spread is narrow. There are other micro accounts and standard accounts, but KIWAMI has the narrowest spread among all account types, followed by this zero account.
Since the zero account is an ECN account, it has high contract power. The ECN method is a trading method in which the Forex company does not intervene in the transaction at all. It is known as a method with high transparency of transactions and no refusal of contracts. With the Zero account, you can trade with a very high execution power compared to other accounts because you can directly send orders to the market. The Zero account boasts a high-speed execution power of almost 100% of all orders in less than 1 second.
Maximum leverage is 500x
The maximum leverage for the Zero account is set at 500x. The maximum leverage for standard and micro accounts is 1000 times, so you may feel a little unsatisfactory. The Zero account also has a maximum leverage capped by the account balance.
Zero accounts do not handle virtual currency CFDs. Compared to other account types, the products that can be traded are limited, so if you want to trade cryptocurrencies, open a standard or micro account.
Comparison of Zero Accounts and Other Account Types
The following article summarizes how the zero account differs from other account types, so please refer to it.
High minimum deposit
Although it is a disadvantage of the zero account, the minimum deposit amount may be high. The minimum deposit amount for standard and micro accounts is 500 yen, so the zero account is 20 times that amount. In other words, it will be an account type for advanced traders.
Zero accounts cannot receive bonuses except when opening an account. With standard and micro accounts, you can get an account opening bonus and a luxurious deposit bonus. In other words, it can be said that the zero account is an account type that is established on the premise that traders who can win will open it.
with transaction fees
Zero accounts have transaction fees when compared to other account types. The Zero account has a round trip transaction fee of $10 per lot. This is because the zero account uses the ECN trading method with narrow spreads. Fees will be automatically deducted from your account balance when you place an order.
People who can recommend a zero account
People who can recommend a zero account are the following people.
The “scalping trader” can recommend a zero account. Zero accounts charge an external fee for each trade, but the spreads are very tight.
Trade with own funds
Zero accounts basically have almost no bonuses. Recommended for those who want to trade in a better environment with narrower spreads even if they risk their own funds.
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