How to Open an XM Account

Click the button below (or the "Open XM Account" buttons throughout this guide) to go directly to the XM registration page. The first screen asks for three pieces of information:

• Country of Residence — select the country where you currently live. XM uses this to apply the correct regulatory framework and leverage limits. If you are in the EU or UK, you will be placed under CySEC or FCA rules with a maximum leverage of 1:30 on major pairs. Outside those regions, leverage up to 1:1000 may be available.
• Email Address — use an active email address you check regularly. XM sends your verification link, account details, and important notices here.
• Password — create a strong password of at least 8 characters combining letters, numbers, and symbols.

There is an optional checkbox to consent to marketing communications. This is not required to open an account. Once you have filled in the three fields, click Register.

After clicking Register, XM sends a verification email to the address you provided. The subject line is typically "Please confirm your email address". Open the email and click the confirmation link.

If the email does not arrive within a few minutes, check your spam or junk folder. You can also log in to the XM Members Area and request a new verification email from the notification banner at the top of the page.

Clicking the link takes you directly into the XM Members Area, where you will complete the remaining steps of your account setup.

Inside the Members Area, XM will ask you to complete your personal profile. This is a regulatory requirement under CySEC, ASIC, and DFSA rules.

Personal details required

• Full legal name (as it appears on your government-issued ID)
• Date of birth
• Residential address (street, city, postcode, country)
• Phone number
• Tax identification number (required in some jurisdictions, including EU countries)

Trading experience assessment

XM is required by regulation to assess your knowledge and experience before granting access to leveraged products. You will be asked questions about:

• How many years you have been trading forex or CFDs
• How frequently you have traded in the past year
• Your annual income and total net worth
• Whether you understand that leverage amplifies both profits and losses

Answer honestly. If your answers suggest limited trading experience, XM may show you additional educational materials and risk warnings before proceeding. This does not prevent you from opening an account, but it may affect your initial leverage limits.

XM offers four live account types. You select your account type during setup in the Members Area. Here is a direct comparison:

*Maximum leverage of 1:1000 applies to clients under IFSC (Belize) regulation. EU and UK clients are capped at 1:30 on major pairs (ESMA/FCA rules). Australian clients are capped at 1:30 (ASIC rules).

For most beginners, the Micro account is the best starting point. It requires only $5, supports micro-lot trading (0.01 lots, or 1,000 units), and lets you build experience without significant capital exposure. The Micro account trades the same instruments and uses the same platforms as the Standard account.

You will also be asked to choose your base currency at this step. XM supports USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, and SGD as base currencies. Choose the currency that matches your bank account to avoid conversion fees on deposits and withdrawals.

Finally, choose your trading platform: MetaTrader 4 (MT4), MetaTrader 5 (MT5), or the XM App. MT4 remains the most widely used platform globally and has the largest library of Expert Advisors (automated strategies). MT5 offers more order types, more timeframes, and access to stocks. If you are new to trading, either MT4 or MT5 is a solid choice; you can always open an additional account on the other platform later at no cost.

XM also offers an Islamic (swap-free) account for traders who require a halal trading environment. You can request the Islamic account option during setup or by contacting XM support after opening.

Before you can make a withdrawal, XM requires you to complete identity verification (Know Your Customer, or KYC). You can deposit and start trading on a demo basis before verification is complete, but verified status is required for live withdrawals.

XM requires two documents:

1. Proof of Identity

Any one of the following:

• Passport (the photo page)
• National identity card (front and back)
• Driver's licence (front and back)

2. Proof of Residence

Any one of the following, dated within the last 6 months:

• Bank statement or credit card statement
• Utility bill (electricity, water, gas, internet)
• Government-issued letter or tax document

Tips for faster approval

• Upload color images or scans (not black and white)
• Make sure all four corners of the document are visible
• Ensure your name and address are clearly readable
• File size must be under 5 MB (JPG, PNG, or PDF)

XM typically reviews documents within 1 business day, and often within a few hours. You will receive an email confirmation once your account is verified.

Once your account is open (even before full KYC verification), you can make your first deposit. Navigate to Members Area → Funds Management → Deposit Funds.

Minimum deposits

• Micro account: $5
• Standard account: $5
• XM Ultra Low account: $50

Available deposit methods

XM does not charge fees on deposits. However, your bank or payment provider may apply their own charges for international transfers. If your deposit currency differs from your account base currency, XM converts at the interbank rate with a small margin.

Deposits by credit or debit card and e-wallets are processed instantly, so your funds appear in your trading account within minutes. Bank wire transfers take 2 to 5 business days depending on your bank and country.

XM also offers a $30 welcome bonus for new accounts in eligible countries (check the XM promotions page for current availability and terms).

With your account funded, download your chosen platform from the Members Area or directly from the XM website.

Platform download options

After installing your platform, log in with the account number and password sent to you by email when your trading account was created (this is different from your Members Area password). Select the correct server from the list — XM operates multiple servers, so make sure you choose the one that matches your account type (live, not demo).

Free VPS hosting

XM offers a free Virtual Private Server (VPS) for clients who maintain a minimum equity of $5,000 and trade at least 5 lots per month. A VPS keeps your Expert Advisors running 24 hours a day without needing your computer to be on.

Practice first with a demo account

If you are not yet ready to trade with real money, XM offers an unlimited demo account with virtual funds. You can open a demo account directly from the XM registration page or from the Members Area at any time. The demo environment uses real-time market prices and the same platforms as the live account, making it the ideal way to test strategies without financial risk. See our full XM broker review for a deeper assessment of the platform.

XM accepts clients from over 190 countries across six continents. The broker operates through four regulated entities depending on your country of residence:

XM does not accept clients from the following countries due to local regulations or international sanctions:

• United States
• Canada
• Israel
• Iran
• North Korea
• Myanmar
• Sudan and South Sudan

If you are unsure whether XM accepts clients from your country, the registration form will notify you when you select your country of residence. If your country is restricted, XM will display a message and you will not be able to proceed with registration.