Opening Account Procedure
- Visit their website www.xm.com
- On the main page click on “Open an Account” as shown below.
3. Fill up the required details
4. Registration form
5. Select Account type
6. Confirm by agreeing the policies
7. Login to your account and upload required documents such as ID proof and Address Proof
8. Make a deposit by choosing desired funding channel
9. Login to MT4 platform and start trading
The broker doesn’t accept clients from United States, Canada, Israel, Iran, Portugal, Spain.
XM Best account type
In my opinion the best account type of XM is Ultra Low account types in all aspects.
XM login
Login into an XM account is quite easy, you just have to visit their website click on the member-login option present on the top bar of the website, enter your account number, and password and you are ready to go. The screen will look like the below:
XM demo account
With XM you can open a demo account as well, the process of opening a demo account is similar to opening a new account.
Deposit and Withdrawal Options
XM does provide a lot of methods to deposit funds, they recently have launched a UPI payment method as well.
For depositing funds click on deposit and the next page you will see the channel details with which you can deposit funds. For reference, please check the below image
I deposited with the method of online banking, you can choose any as per your convenience, and one more thing to note is that they recently have launched a UPI payment method as well which is the easiest and the best way to deposit.
I also suggest to go with UPI if you want the transfer to be hassle free.
For withdrawing funds, they have the below channels
They have few options for the withdrawal but if you deposit funds through UPI, you can withdraw funds back by online bank transfer and it takes 24 hours to max 5 business working days for the amount to be credited back to your account, mostly it is done within 24 hours.
There are no charges for deposit and withdrawal, so the cost is less for this broker.
Deposit fees
XM doesn’t charge any fees on deposits and withdrawals which automatically results in reducing the overall cost of a broker.
Conclusion
In this article, we learned how to open an account with an XM broker. What steps to follow in order to open an account with them. We also learned how to login into your XM account. What is the XM Demo account and which account type is best suitable for beginners and which is good for professionals?
On the other hand, we have learned about the deposit and withdrawal methods which XM Broker provides. They have a lot of options in which I used UPI for my transfers you can use any as per your convenience.