- XM offers four account types — Micro, Standard, Ultra Low, and Shares — each suited to different experience levels
- The Micro account with $5 minimum deposit and 1,000-unit lots is purpose-built for beginners who want smaller position sizes while learning
- Ultra Low accounts offer tighter spreads from 0.6 pips, better suited for active and scalping strategies
- XM's current account-types page lists negative balance protection, hedging and an Islamic option as standard account features
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June 2026 field note: XM details can vary by country and legal entity. Before following this guide, compare the current signup or Members Area wording with the points below, especially account type, bonus and withdrawal conditions.
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 | $5 in most regions | $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 welcome 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. It is available from $5 in most regions, though bonus eligibility and exact account conditions still depend on your XM entity.
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 welcome 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.
Education-first next step: practise on demo, calculate your risk per trade, then review the current XM account, bonus and withdrawal terms before opening or funding a live account. Check XM terms only after you understand the risks; eligibility depends on your country, legal entity and live campaign rules.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Comments 5
Shared this with my trading group. Not everyone agreed with every point but the core message is solid and well-researched.
Started with Micro account three months ago and just upgraded to Standard. The Micro was perfect for learning position sizing with real money without the risk of blowing up. $5 minimum made the barrier to entry almost zero.
I appreciate that this doesn't promise overnight riches. The realistic tone is what the forex education space needs more of.
The comparison table between Standard and Ultra Low accounts would benefit from showing the actual pip cost difference. For someone trading 0.1 lots on EUR/USD, what's the practical monthly saving in dollars? That would make the choice clearer.
Is there a way to switch account types without creating a new account? I started with Standard but want to try Ultra Low for scalping. The article doesn't mention whether XM allows account type changes.
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