The XM demo account will allow you to test the trading platform and the trading conditions of this broker without putting your money at risk. It is the best way to start for both beginners and traders who have already worked with another broker and want to assess whether XM is the right broker for their trading operation.
If you are new to trading, with the XM demo account you can learn how to invest, become familiar with the platform, open, manage and close positions. Although you will learn to analyse the market situation, properly make your trading decisions, improve your strategy and test your potential before moving on to a real account. When trading with virtual money, both gains and losses are simulated. You will not put your capital at risk during this learning phase, and when you feel comfortable, you will be able to move to a real account with a much higher chance of success.
We believe that XM is recommended for all types of traders because it is a regulated broker, with a wide range of financial instruments to invest in. For example, Forex currency pairs, commodities, energy and stock indexes. XM offers reasonably tight spreads; order execution is fast and without requotes, and any trading strategy is allowed without any restrictions.
What are the main features of the XM demo account?
The XM demo account is entirely free of charge. You do not have to deposit money to use it, nor provide any bank details, nor do you have any commitment to the broker.
It has the advantage of being an unlimited time demo account. You can use it as long as you want. Other brokers usually limit the use of the demo accounts to 30 days, for example, to force you to switch to the real account as soon as possible. This does not happen in XM as you can test the time you want without any limitation. It will only be closed if it is inactive for more than 120 days, in which case you can reopen a new one if you need it later.
It comes preloaded by default with 100,000 euros of virtual money for you to do the test operations you need. If you wish, you can change this amount to other amounts between £3,000 and £5,000,000 when you open the demo account. We recommend that you choose a configuration more or less similar to what you would do on a real account. For correct learning, you must take this demo account as if it were real money. Even so, in the beginning, it is easy for you to make some mistakes, and, conveniently, you have a balance large enough to be able to test.
The XM demo account gives you full access to the trading platform, both the popular MetaTrader 4 for PC or MAC and specific versions for smartphones and tablets with iOS or Android systems.
The trading operation is precisely the same as the one you will have in a real account. It offers the same instruments and trading conditions as a real account.
As we mentioned before, if you want to learn for real, you should take this demo account as if it were a real account. If you make decisions lightly and trade without control, little will help you. The psychological factor is always going to have a more significant impact on a real account because it is your money that is at stake, and you will have to face and control both fear and greed. Even if your demo account balance is virtual, try to trade with caution and discipline as if it were your own money.