Why Your Account Type Matters#
Choosing the right trading account is one of the first — and most important — decisions you will make as a new trader. The account type you select determines your minimum trade size, spread costs, available instruments and overall risk exposure. XM offers four distinct account types, each designed for a different trading style and experience level.
Picking the wrong account can lead to unnecessary costs or risk that does not match your skill level. This guide breaks down every XM account type so you can start with confidence.
XM Account Types at a Glance#
| Feature | Micro | Standard | Ultra Low | Shares |
|---|---|---|---|---|
| Min Deposit | $5 | $5 | $50 | $10,000 |
| Contract Size | 1,000 | 100,000 | 100,000 | 1 share |
| Spread | From 1.0 pip | From 1.0 pip | From 0.6 pip | Variable |
| Commission | None | None | None | Per trade |
| Max Leverage | 1:1000 | 1:1000 | 1:1000 | 1:1 |
| Platforms | MT4 / MT5 | MT4 / MT5 | MT4 / MT5 | MT5 only |
| Islamic Option | Yes | Yes | Yes | No |
| Best For | Beginners | Most traders | Active / scalpers | Stock investors |
Micro Account: Why Beginners Love It#
The Micro account is purpose-built for traders who are just getting started. Each lot equals only 1,000 units of the base currency instead of the standard 100,000, meaning a single pip movement on a 0.01 micro lot is worth roughly $0.01. This dramatically lowers risk per trade and allows you to learn proper position sizing without significant financial exposure.
Key advantages for beginners:
- Trade with as little as $5
- Smallest possible position sizes to protect your capital
- Same execution quality and pricing as larger accounts
- Full access to all XM bonuses, including the $30 no-deposit bonus
- Islamic (swap-free) option available
The Micro account gives you a real market experience — live spreads, real execution, real emotions — but with training-wheel position sizes that keep losses manageable while you develop your skills.
Standard Account: The All-Rounder#
Once you are comfortable with market mechanics and have a proven strategy, the Standard account is the natural next step. It uses a 100,000 unit contract size, which is the industry norm. Spreads start from 1.0 pip with no commission, keeping cost calculations simple.
The Standard account suits traders who want full-sized positions without worrying about per-trade commissions. It is the most popular account type among XM's client base for good reason — it strikes an excellent balance between flexibility and simplicity.
Ultra Low Account: For Cost-Conscious Traders#
Active traders and scalpers who execute many trades per day will appreciate the Ultra Low account. Spreads start from just 0.6 pips with no commission, delivering some of the lowest all-in costs XM offers. The trade-off is a slightly higher minimum deposit of $50.
If you plan to scalp or trade on short timeframes where every fraction of a pip matters, the Ultra Low account can meaningfully reduce your trading costs over hundreds of trades per month.
Shares Account: For Stock Investors#
The Shares account is fundamentally different from the other three. It provides access to real shares (not CFDs) on major global stock exchanges. The minimum deposit is $10,000, leverage is fixed at 1:1, and trading is only available on MT5.
This account is designed for investors who want to buy and hold actual stocks alongside their Forex trading. It is not typically suitable for beginners due to the high capital requirement and lack of leverage.
Our Recommendation for Beginners#
For most new traders, we recommend a clear progression path:
- Start with a Demo account to learn platform basics and test strategies risk-free
- Open a Micro account with a small deposit ($5–$100) and trade micro lots while you build confidence and consistency
- Graduate to Standard once you are profitable for 2–3 consecutive months and ready for standard lot sizes
- Consider Ultra Low if your strategy involves high-frequency trading and you want tighter spreads
This step-by-step approach lets you scale your risk in line with your growing experience, rather than jumping into deep water from day one.
How to Open Your First XM Account#
- Visit the official XM website and click "Open an Account"
- Complete the registration form with your personal details
- Choose Micro as your account type and select your preferred platform (MT4 or MT5)
- Verify your identity by uploading a valid ID and proof of address
- Fund your account (minimum $5) or claim the $30 no-deposit bonus
- Download your trading platform and log in with the credentials sent to your email
The entire process takes under 10 minutes, and verification is usually completed within one business day.
Can You Change Account Type Later?#
You cannot convert an existing account to a different type, but XM allows you to open up to 8 trading accounts under a single profile. This means you can open a Micro account today and add a Standard or Ultra Low account later without closing your original one. All accounts are managed from the same Members Area, making it easy to transfer funds between them.