Opening an account with XM is easy, but there are a few steps involved. First, if you want to try the demo account, the homepage makes this option incredibly straightforward. To open a trading account, select the green button and follow these steps:
XM will send you an email that asks for further confirmation of your email address. Upon receipt, XM will then congratulate you via email for opening your account and provide you with an eight-digit account number, which will be required every time you log in. If you have difficulty with your XM broker login, you may request a new password or contact support for assistance.
Finally, industry guidelines mean that you must submit personal ID information when opening any brokerage account. You can submit copies of a national ID, passport, or driver’s license, along with utility bills or bank statements for proof of residency, to complete the verification process. Once approved, you are ready to fund your account and then trade.
XM serves clients from over 190 countries, and its customer service representatives speak more than 25 different languages.
Due to regulatory restrictions in some countries, you may be directed to the subsidiary of the company that can offer products and services that are permissible by local regulators in your country of residence. This may also mean that there is restricted access to some products and systems. Similarly, there are countries that do not allow XM to support their residents – these include the US, Canada, China, Japan, New Zealand, and Israel.
Usability of your account is straightforward with XM. You can have more than one account, although XM doesn’t support corporate accounts. For additional information about the account opening process, downloading MT4 or MT5 software, and providing identity verification materials, XM provides several tutorial videos on its YouTube channel.
If you are wondering how to close your account with XM, this is also an easy process. The steps are as follows: