This time it is the turn to show you step by step our real experience with the XM broker , with which you can invest in the main currency pairs in the Forex market, CFDs, precious metals, raw materials, energy, indices, … XM is a broker regulated by the British FCA, CySEC and ASIC in Australia, (also registered with the CNMV, …) that complies with the most demanding investor protection directives . It is a recommended broker for both beginners and experienced traders that offers good conditions, the powerful MetaTrader 4 platform and with which you can use any trading strategy.
This is the first of a series of three articles in which we show you how the XM broker works . This is our real experience because, to prepare these three articles, we have previously opened a real account at XM , we have deposited real funds , we have carried out a couple of operations and then we have requested to withdraw the money . In this way you can see in a graphic way how these processes are carried out:
How do I open an account in the XM broker?
Here are the steps to open an account with XM:
1 – To apply for registration of your real account XM please click here . Then click on the “OPEN REAL ACCOUNT” button that you will find in the upper right.
2 – The next step is to fill in the registration form with the data that XM requests.
This is the first part (remember that you should not use accents, the letter ñ or characters that are not in the English alphabet):
Once completed, click on the “Advance to second step” button and you will have to fill in the second part of the form. After the Personal Data, Address and Contact Data part comes the Trading Account Data part where you must indicate the type of account you want to open, the amount you want to invest, the base currency and the maximum leverage level.
XM currently offers 3 types of accounts: MICRO, STANDARD, and EXECUTIVE. The MICRO account is ideal for beginners because you can operate with microlots and has a minimum initial deposit of only $ 5. The STANDARD account is a good option for more experienced traders who operate with standard lots and the minimum initial deposit is also only $ 5. The EXECUTIVE account is designed to operate with large volumes and the minimum deposit is $ 100,000.
The following sections of Investor Information and Trading Knowledge are a small questionnaire about your trading experience that most brokers usually ask to meet the demands of regulatory bodies.
Finally you must read and accept the terms and conditions of the XM broker services and click on the “Open Real Account” button .
Once you have successfully completed the registration form, you will receive the following confirmation message that your XM account has been opened and that you have been sent an email with your access data.
3 – Check the inbox of the email account you used for registration . You should have received an e-mail with the access data to your client account and they will also be the ones that you should use a little later on the MetaTrader 4 trading platform.
- – Login : it is the number that identifies your client account in XM and is used to connect to MetaTrader 4 and also gives you access to your user area on the broker’s website.
- – Password : it is the password of your client account in XM and serves to connect to MetaTrader 4 and also your user area on the broker’s website.
- – Investor Password : it is a password that together with your account number (login) allows a read-only access to your XM trading account. For example, if you want someone else to monitor your operations in MetaTrader 4 but without being able to execute any operations.
- – Please log in on Server : this is the XM server that you have to connect to in MetaTrader 4 to access your account.
4 – Below we recommend that, before validating your account and making a deposit, you leave the MetaTrader 4 trading platform installed and ready to use .
To download the XM MT4 platform you can click on the corresponding link that comes in the e-mail or on the following link: http://www.xm.com/es/platforms
Save the installation file on your computer and when it is downloaded, proceed to execute it . Click the ” Next ” button and wait for the installation process to finish.
5 – After finishing the installation you will have an icon on your desktop to start the XM MT4 platform . Double click on it and the trading platform will launch.
Then we can leave our access data configured to connect to our XM account. If the MT4 login window has not been opened, you can access it through the top menu option “File” >> “Login to Trade Account”.
You must enter your account number in the Username field that appeared in the Login section of the e-mail you received from XM. In the Password field you must enter the one that comes in the password section and in Server you must select in the drop-down list the one that corresponds to your account that also appears in the e-mail that you have previously received from XM. Finally, it is advisable to check the box “Save account information” so that you remember our connection data and avoid having to enter them every time we use the platform. Finally press the ” Login ” button.
After completing these simple steps you will have the MetaTrader 4 trading platform offered by the XM online broker installed and configured .
In the following article , in this series about our real experience with account opening, deposit funds and money withdrawal operations at XM, we will show you how the process of validating your account and depositing funds works so that you can then start investing in XM.
REAL EXPERIENCE: HOW TO MAKE A DEPOSIT IN THE BROKER XM
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