- June 28, 2021
- Posted by: ForexTradeOn
- Category: XM Broker review
A demo account is the best possible way to test your online broker’s trading platform and quality of service without putting your money at risk. Using the demo account, you can carry out operations, in conditions very similar to a real account, but operating with a virtual balance that the broker makes available to you.
In addition to the above, you can also use the demo account to learn to invest or to test new trading strategies before moving on to using them in your real account.
The XM broker is one of those that offers this demo account for free. XM is one of the main Forex and CFDs brokers worldwide and one of the most complete. It offers you the possibility of trading in more than 1,000 different financial instruments such as Forex market currencies, CFDs, metals, and more.
This broker has presence in a lot of countries around the world and is internationally regulated by various organizations such as IFSC, the International Financial Services Commission of Belize. It operates in compliance with the most demanding investor protection regulations.
XM offers you a demo account with the following characteristics:
- The XM demo account is completely free .
- You can open the demo in less than a minute without providing any bank details or sending any documentation.
- The demo account of the XM broker comes loaded with a virtual balance of $100,000.
- The demo account is limited by default to 4 weeks of use so that you can test XM services, but if you open a real account with this broker before it expires, it becomes unlimited and so you can continue testing strategies in parallel to your real account.
In order to open a demo XM account, you should follow these steps:
- Go to the XM website.
- Enter some personal information like your name, phone number, email, and country of residence.
- Select the account type, base currency, and trading platform.
- Set an account password and submit the form.
- Verify your account and start trading with %0 risk.
The XM demo account is already correctly opened and you will be able to access the trading platform where automatically you already have the balance of $100,000 available to start doing test operations.
If you have chosen the XM trading platform when creating your demo account, you will be able to access it and you will see that it is quite intuitive, but if you have doubts about how to use it you can take a look at this tutorial that’s offered by XM to show you how this platform works and how to manage your account.
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