This is tutorial how to open account with XM Forex trading broker. The tutorial will guide you step by step in order to open account and start trading with well known Forex broker, XM.
First thing you need to do is to open XM website so please click on the link below.
When you are on the main XM broker webpage you need to click on the large green button that says “Open An Account“.
When you click on that button you will be redirected to another web page where the registration of XM account will start.
- 1 XM Trading Account
- 2 XM Trading Account – Step 1
- 3 XM Trading Account – Step 2
- 4 XM Trading Account – Step 3
- 5 XM Trading Account – Step 4
- 6 XM Trading Account – Step 5
- 7 XM Trading Account – Members Area
- 8 XM Trading Account – Validate Account
- 9 XM Trading Account – Upload Documents
- 10 XM Trading Account – Finish
- 11 Conclusion
XM Trading Account
To open XM account you need to fill necessary details about you and your preferences on trading.
You will need to verify your identity through documents but all those steps are normal when you want to open trading account with any broker.
Further in this post you will see images with each step you need to take in order to open XM trading account.
XM Trading Account – Step 1
As a first step you need to fill up blank fields with your personal data.
All the data is listed on the image below so please take a look and see what you need to enter.
You need to select XM trading account, Metatrader 4 or Metatrader 5.
Which lot size you want to use on the trading account, standard lot or micro lot size.
Second thing is the regulator of the XM trading account. Regulator is crucial part because below regulator list you can see characteristics of the XM trading account.
There is data about account balance protection, maximum leverage you can have.
After you have selected all what you want to have and after you have filled up all the data that is necessary you need to click on “Proceed to step 2“.
XM Trading Account – Step 2
Second step requires more personal details from you. That is birthday and address.
Those data will be used to verify you as a real person after you upload your documents.
At the bottom you need to define which trading account currency you want to have.
Next part is about you as an investor in trading. You need to give details about your intention with trading.
Will you invest small amount of money or large sum of money.
That information is important to broker because then he will see what kind of information would be usefull to you. Maybe they can offer you better bonus depending on the amount you deposit.
There are some questions they need to get from your because regulator has requested to ask each trader.
In this part you need to show some knowledge about trading because they want to protect you.
If you do not know answers to these questions you should open demo account. With demo trading you can learn about trading and later on you can come here to open live XM trading account.
I have answered the questions so you can take a look.
“If the leverage on opening a CFD trade in EUR/USD is 10:1, what would be the required margin for opeing a CFD trade of 1 lot(100,000 EUR) in EUR/USD“
The answer is 50,000 EUR
“The market moves by 2%. Trading with which leverage would lead to the largest profit or loss?“
The answer is 30:1. Largest leverage can have impact in such way to lose the most.
“What type of order should you place to limit your losses when trading in CFDs?”
The answer is “A stop loss order”.
If you are politicaly active person you should note here where you are asked.
At the end you need to enter your password for accessing to the XM trading account.
You need to include special characters to make the password strong.
When you are done finish by clicking on the “Open a real account” button.”
XM Trading Account – Step 3
Now you need to open your e-mail address account to verify account you have just created.
Below on the image you have steps you should take in order to validate your account.
XM Trading Account – Step 4
In your e-mail box you will receive e-mail like I have.
It will be from XM broker with confirmation link which you need to click.
When you open e-mail received from XM broker you will see welcome message with confirmation e-mail.
Please click on the link inside e-mail and you will be redirected back to XM website.
Another e-mail you will receive from XM broker will contain Metatrader 4 account details.
It will contain MT4 account number. The password for the account is the password you have defined earlier in the first steps.
There is information which server you need to connect to. This information you will need to enter after you download XM Metatrader 4 trading platform.
How to download XM Metatrader 4 trading platform I will show you a little bit later after we finish these steps.
XM Trading Account – Step 5
After you have clicked confirmation e-mail you will be redirected to the XM members access area.
It is login web page where you need to enter your account details.
It is account number you have received in the e-mail.
Password is the password you have defined at the start.
Please enter those data and click on the “Login“.
XM Trading Account – Members Area
When you login into XM members area you will see your account details.
Below on the image you can see:
- your account number
- currency you have selected earlier
- account balance
While you have just open the XM trading account you are not verified by XM. So, you cannot deposit money on your account and withdraw money from your account.
To verify yourself as a trader you need to validate your account. XM have simplified the step so you need just to follow instructions.
Please click on the “Validate your account here” button.
XM Trading Account – Validate Account
There are few steps you need pass so please take a look on the image below and proceed.
Please answer on the questions you have asked and if you need help just take a look on the image how I have answered.
Some questions in this step can be little different because of the country you are coming from. But the questions are simple so I think you will not have any problems.
If you encounter some problems please visit main XM website and contact broker directly to help you solve open question.
XM Trading Account – Upload Documents
On the last step you need to upload few documents which will be used to verify the data you have entered during opening trading account.
First document is used to verify your identity. It means that you cannot say that you are Sam at the beginning and when you upload ID card it says John.
The information provided earlier must be the same as on ID you will upload.
Second document you should upload will verify your address. The address you have provedided earlier must be same as on the document you upload.
Please upload documents you are asked for and click on the “Upload your documents” button.
This will upload documents on the server. When the documents are uploaded you will see them like on the image below.
I have uploaded driver license and one bill not older than 6 months.
XM Trading Account – Finish
When you are done with uploading documents you will see them below like on the image.
Each document is in its row and you can see what is the current status of that document under column “Status”.
When the document is verified you will see here verification status moved from “Recevied” to “Approved” or “Verified”.
That will be confirmation to you that everything is ok and you are set to move forward with trading.
As a confirmation you will received e-mail to your mailbox with information that you have uploaded your documents successfuly.
You can expect that documents are verified thourgh 24h time frame but it can be more if you have not uploaded correct documents.
In that case you will be notified through e-mail so you can act accordingly.
Now you have done all what is needed and you have XM trading account.
You can continue with downloading XM Metatrader4 trading platform. I have made instructions for you so please click on the link below.
Read more: Download and Install XM Metatrader 4