An XM account is built for several different kinds of trader — from beginners starting out in forex, to high-volume traders, to people who want access to the stock market. Not every account type XM has ever offered is still open to new clients in every region, though.
According to XM’s official account types page, the three options currently published are Standard, Ultra Low and Shares. Names such as Micro or XM Zero still appear in some documentation, regions or older articles, but they are not on the current public list of accounts open to new registration.
This article compares the XM account types so you can quickly work out which one fits your capital and your trading style. You can also see an overview of the trading conditions on the XM broker page at Backcom.io.
XM Account Types: How Many Are There and Who Should Open One?
XM offers several trading account types suited to different groups of trader, from beginners with small capital to people who trade frequently or focus on shares.
When picking a trading account, prioritise four things:
- Spread and commission
- Trading volume
- Starting capital
- Trading style — scalping, day trading or swing trading
For beginners, Standard is usually the easier one to work with; traders who want to optimise cost can consider Ultra Low, while Shares suits anyone whose focus is stock trading.
Which XM Account Types Are Available Now?
On the current public information, XM focuses on three main types:
- Standard: suits most traders, easy to use, and charges no commission on many instruments.
- Ultra Low: tighter spreads, suited to scalpers and day traders.
- Shares: for traders who want to trade equities.
Names such as Micro or XM Zero still turn up in older documentation or in particular regions, but they are not always open to new registration. Check directly inside the XM Members Area before you sign up.
Who Should Open an XM Account?
XM’s products suit a wide range of traders thanks to the low starting capital and the fairly flexible choice of accounts.
Best suited to:
- Beginners: wanting to start with small capital and trade on MT4/MT5.
- Scalpers and day traders: who prioritise tight spreads with Ultra Low.
- Swing traders: who need an account that is easy to use with clear costs.
- Share traders: who can consider the Shares account if they meet the capital requirement.
Choose based on capital, trading frequency and strategy, rather than simply going for the lowest advertised spread.
General Requirements for Opening an XM Account
To open an account, you need to complete a few basic steps:
- Register with accurate personal details.
- Verify your identity (KYC) with an ID card, passport or another document XM accepts.
- Verify your address if the system asks for it.
- Pick the account type that fits — Standard or Ultra Low, for example.
- Deposit and log in to MT4/MT5 to start trading.
XM can change its verification requirements by period and by region, so check inside the Members Area before you deposit.
A Detailed Comparison of the XM Account Types
These account types differ mainly in:
- Spread and commission
- Lot size
- Minimum deposit
- Leverage
- Instruments available
Standard suits most traders, Ultra Low prioritises low cost, and Shares is for equity trading.
Summary Comparison Table
| Account | Forex lot | Spread | Commission | Minimum deposit | Suits |
|---|---|---|---|---|---|
| Standard | 100,000 units | From the standard level | None | From $5 | Most traders |
| Ultra Low | 100,000 units | Lower than Standard | None | From $5 | Scalpers, day traders |
| Shares | By share | By market | Depends on instrument | Around $10,000 | Share traders |
Micro and XM Zero may still appear in some regions or older documentation, but they are not a common option for new registration today.
Check the account conditions directly in the XM Members Area, because spread, leverage and instruments can vary by region.
XM Micro — Suited to Beginners, 1,000 Lot Size
XM Micro used to suit beginners thanks to its small trade size, where 1 Micro lot equals roughly 1,000 units of the base currency.
The main advantages:
- Easier to control volume and risk.
- Suits accounts with small capital.
- Useful for testing a strategy with real money at low size.
That said, XM Micro is not currently shown as a common option for new registration. Check the Members Area directly before signing up.
XM Standard — the Most Popular, 100,000 Lot, No Commission
XM Standard suits most traders thanks to its simple fee structure and easy access.
- 1 lot = 100,000 units of the base currency
- Minimum deposit from $5
- No commission on many common instruments
- Covers forex, gold, indices and CFDs
- Works for beginners and regular traders alike
If you value simplicity and flexibility, the XM Standard account is the easiest place to start.
XM Ultra Low — Ultra-Tight Spreads From 0.6 Pip
XM Ultra Low suits traders who deal frequently and want to cut costs.
- Minimum deposit from $5
- Tighter spreads than the Standard account
- Swap and commission costs optimised by XM
- Suits scalpers, day traders and high-volume traders
- Covers a wide range of forex and CFD instruments
If tight spreads and trading cost are your priority, Ultra Low is one of the strongest options available today.
XM Zero — Tight Spread With a Separate Commission (Not Currently Open)
XM Zero was known for very tight spreads with a commission charged separately by volume, which suited scalpers and traders who enter frequently.
- Spread could start from a very low level.
- A separate commission per lot.
- Suited scalping, day trading and EAs.
- You need to work out total cost = spread + commission before choosing.
As things stand, XM Zero is no longer listed among the accounts open to new registration; XM currently publishes Standard, Ultra Low and Shares. Check the Members Area rather than relying on older figures.
XM Shares suits traders who want to focus on the equity market rather than forex.
- Trade the share codes XM supports.
- Higher capital requirement than the forex accounts.
- Costs depend on the market and the instrument.
- Suits traders with larger capital and an equity investment strategy.
If your main focus is forex or gold, Standard and Ultra Low usually fit better; Shares is for dedicated equity trading.
Spread, Leverage and Overnight Swap by Account Type
Average Spread on EURUSD, GBPUSD and XAUUSD by Account
Spread at XM is floating, so EURUSD, GBPUSD and XAUUSD have no fixed level at all times.
- Standard: wider spread, but a simple fee structure.
- Ultra Low: tighter spread, suited to frequent traders.
- XAUUSD: normally swings more than forex, especially around major news.
XM currently advertises spreads from around 0.8 pip, but the real level still depends on the instrument, liquidity and the time of day.
Check the Bid/Ask on MT4 or MT5 before entering, rather than relying on the advertised spread.
Maximum Leverage and the Limits by Instrument
XM currently supports leverage up to 1:1000, but the real figure does not apply equally to every instrument.
Leverage can vary with:
- Account type
- The pair or instrument traded
- Position size
- Balance/equity
- XM’s risk management conditions
High leverage reduces the margin you need, but it also makes losses build far faster. Check the actual leverage on your account before opening a large position.
Overnight Swap and How to Reduce Holding Costs
Swap is the cost that can arise when you hold a position overnight. It varies with the instrument, the Buy/Sell direction and market conditions.
To reduce it:
- Check the swap directly on MT4/MT5 before entering.
- Avoid holding positions with a large negative swap for long.
- Swing traders can favour Ultra Low, which XM positions with tighter spreads and lower swap.
- Compare spread + swap + commission rather than just the cost of opening.
On a multi-day strategy, swap can materially affect your result, so factor it in from the start.
Which XM Account Should You Choose for Your Trading Style?
No single account suits every trader. Choose by strategy and trading frequency:
- Beginners / small capital: favour Standard.
- Scalpers / day traders: consider Ultra Low for the tighter spread.
- Swing traders: pay extra attention to swap and holding costs.
- Share traders: pick Shares if you meet the capital requirement.
What matters most is comparing spread, swap, commission and capital before you decide.
Beginners / Capital Under $500 → Standard
For new traders or capital under $500, the XM Standard account is normally the most accessible choice.
- Low minimum deposit.
- Simple fee structure that is easy to track.
- Covers forex, gold and many common CFDs.
- Good for practising money and position-size management.
Beginners should start with small lots and moderate leverage rather than using the maximum XM allows.
Scalpers / Day Traders → Ultra Low
For traders entering many times a day, XM Ultra Low usually fits better thanks to the lower trading cost.
- Tighter spread than Standard.
- Suits scalping, day trading and EAs.
- Useful when you trade at high frequency.
- Reduces the cost that accumulates across many orders.
If your strategy depends heavily on spread, Ultra Low deserves priority over Standard.
Swing Traders Holding Overnight → Standard or Ultra Low
If you hold for several days or more, favour Standard or Ultra Low and pay particular attention to swap.
- Standard: easy to use, suits a simple strategy.
- Ultra Low: tighter spread, can optimise cost if you trade often.
- Check the Buy/Sell swap before holding overnight.
- Work out spread + swap + commission rather than looking at spread alone.
If you regularly hold for days, swap can have a real effect on your results.
If your main goal is trading equities, XM Shares fits better than the standard forex accounts.
- Focuses on the share codes XM supports.
- Requires more capital than Standard and Ultra Low.
- Suits traders with a long-term or dedicated equity strategy.
- Unnecessary if you mainly trade forex, gold or indices.
For most CFD traders, Standard or Ultra Low remains the more practical choice.
A Quick Comparison of XM With Exness and Vantage
XM, Exness and Vantage all suit forex traders, but their strengths differ:
- XM: easy to access, with Standard and Ultra Low covering a range of trading styles.
- Exness: stands out for competitive spreads and a varied account line-up — see the detail in Exness trading fees.
- Vantage: its Raw account suits scalpers and high-volume traders — see the Vantage rebate rates.
When comparing, focus on spread, commission, leverage, minimum deposit and real cost rather than any single criterion.
Spread & Commission: XM Ultra Low vs Exness Standard vs Vantage Raw
The three have quite different cost structures:
| Account | Spread | Commission | Suits |
|---|---|---|---|
| XM Ultra Low | Lower than Standard | Low or negligible, by instrument | Scalpers, day traders |
| Exness Standard | From 0.2 pip | No commission | General traders |
| Vantage Raw ECN | From 0.0 pip | $3/lot/side | Scalpers, high volume |
Exness Standard currently publishes spreads from 0.2 pip with no commission, while Vantage Raw ECN starts at 0.0 pip but charges $3 per standard lot per side.
So compare total cost = spread + commission, rather than picking whichever account advertises the tightest spread.
Leverage, Minimum Deposit and Base Currencies
XM, Exness and Vantage differ on capital and account conditions:
- XM: deposits from $5, leverage up to 1:1000.
- Exness Standard: maximum leverage depends on equity and instrument and can go very high if you qualify; the minimum deposit varies by region and payment method.
- Vantage Raw ECN: deposits from $50, with flexible leverage options.
The base currencies available can differ by account and region. Pick the currency that matches how you fund and withdraw, to limit conversion costs.
When Should You Pick XM Over a Competitor?
XM is worth considering when you value:
- A low starting deposit, easy to reach with small capital.
- A Standard or Ultra Low account with a simple fee structure.
- Trading on MT4/MT5 across a wide range of forex and CFD instruments.
- The option to cut costs further through the XM rebate programme.
Conversely, if you want the very tightest raw spread or extremely high leverage, compare Exness and Vantage before deciding.
How to Open an XM Account Through Backcom
If you don’t have an XM account yet
Register through the Backcom.io referral link:
Register an XM account to unlock a new-trader BONUS and full Backcom 90% privileges today!
Code:
Already have an XM account? Link it to earn the rebate
If your current account already sits under another partner, see how to transfer your XM IB/partner.
- Register a new XM trading account under Account Overview.
- Pick the trading platform and the account type.
- Set the account up and enter referral code BCGLOBAL to receive a permanent 90% rebate on trading fees.
- Create a password for the new trading account ID.
- Finish and confirm the Backcom XM programme.
You can also follow the detailed video guide below on linking your account to earn the XM rebate:
Summary
Each account type fits a different need:
- Standard: suits most traders and beginners.
- Ultra Low: suits scalpers, day traders and anyone optimising spread.
- Shares: for traders focused on equities.
When choosing, compare spread, commission, swap, leverage and capital rather than any single criterion. To cut costs further, you can combine trading at XM with the Backcom rebate programme.
Frequently Asked Questions (FAQ)
Does XM have a Cent account?
XM does not currently promote a Cent account under that name. In the past, XM Micro had a small lot size and was often seen as the closest equivalent. Check the XM Members Area for the account types currently available.
Can you open several XM accounts at once?
Yes. You can open several trading accounts under one verified profile in order to:
- Keep each strategy separate.
- Manage capital more easily.
- Use different accounts for forex, gold or EAs.
The number and types available can change with XM’s policy.
Is XM trustworthy? Is it a scam?
XM is a long-established broker operating through several entities across different regions, including one regulated by CySEC (Cyprus). You still need to check the entity, licence and trading conditions that apply directly to your own account.
XM does not mean risk-free trading; forex and CFDs can still produce large losses when high leverage is used.
Should you register with XM through an IB code to earn a rebate?
It is worth considering as long as the IB programme does not worsen your spread or trading conditions.
A rebate lowers your real cost by this formula:
Real cost = spread + commission + swap − rebate
For traders dealing in size, the rebate can save a meaningful amount over time.
XM or Exness — which account is better?
There is no single best choice for every trader.
- XM: suits anyone wanting a simple account, low starting capital and Ultra Low to optimise spread.
- Exness: stands out for its range of accounts and competitive spreads — read the full Exness review.
- Scalpers: should compare real spread + commission.
- Swing traders: need to watch swap as well.
- High-volume traders: should factor the rebate in too.
Choose on real cost and trading style, not on the advertised spread.
