The XM Ultra Low Micro Account is similar to the Cent Account environment. This type of account has a $50 minimum deposit. It offers CFDs on stocks and base currencies and negative balance protection. Compared to other micro accounts, it requires a smaller minimum deposit so that you can get started right away.
XM offers a wide range of base currencies.
XM is available in various countries and can be downloaded on various mobile devices. Its mobile app supports fingerprint login, which allows you to monitor your trades on the go. Additionally, it supports one-click trading. To become an XM client, you must provide a colour copy of your official ID and a recent utility bill as proof of address.
XM offers 57 different base currencies, various commodities and spot metals. You can choose from various spreads, starting from as low as 0 pips. The company also offers CFDs for 17 commodities, which you can trade without conversion fees.
The XM Standard Account is a popular choice for new traders. It requires only a minimum deposit of $5 and a copy of your ID and residence proof. Once you’ve registered, you can start trading within a short period. XM allows traders to use stop losses, take profits, limit orders, and trailing stop orders to minimize negative moves in the market.
When trading in foreign currencies, choosing a firm that offers a range of base currencies is important. Many top forex brokers offer more than one account base currency to limit your conversion costs. XM allows you to leverage your trades, leading to big profits.
It offers CFDs on stocks.
The XM Ultra Low Micro account allows you to trade stocks, cryptocurrencies, and precious metals. It uses a No Dealing Desk execution model and allows you to trade using a leverage of 1:1,000. The minimum deposit is just $5. You can start with a standard or micro account and use any base currency, depending on your preferences. This account has a maximum leverage of 1:1000, and a 0.6 pips spread. It also features negative balance protection.
The XM Ultra Low Micro account can be used for trading micro or standard lots. Traders can use a margin call policy to limit their losses and a 20% stop-out limit. The margin call will notify the trader and make them close any open positions if they have insufficient funds. In addition, the XM platform supports Expert Adviser trading and Automated Trading, and you can use a News Time Trading strategy.
XM also provides CFDs on over 1,000 financial instruments. The MT5 platform is available on PCs, Macs, and mobile devices. CFDs on stocks and shares are also available. All order types are supported, and the company’s software is compatible with PCs, mobiles, and tablets.
XM’s trading platform provides trading options on 1,210 stocks across 17 countries. These stocks include major US and global equity indices. Other instruments include indices of energy, precious metals, and commodities. Additionally, the platform also offers CFDs on eight commodities through futures.
It offers negative balance protection.
If you are looking for a micro broker that offers negative balance protection, you’ve come to the right place. XM has a low minimum deposit of just $5 and various account types, including the Ultra-Low Account. Each account type has different conditions but provides the same protection. The Micro Account, for example, has a 1,000 unit Contract Size equal to the smallest MetaTrader lot size of 0.01.
The XM ultra-low micro account is a great option for those still gaining trading experience. You can trade with minimal risk without breaking the bank with no starting commission and active negative balance protection. The minimum trade volume is 0.01 lots with MT4 and 0.1 lots with MT5. This is a great option for beginners or those who want to practice their trading skills. You’ll have to be careful about your contract size and plan your trades carefully. One lot is equal to a thousand dollars.
XM ultra-low micro accounts offer a variety of advantages for beginning traders, including negative balance protection, a wide range of markets, and low minimum deposits. Plus, you can open up to 300 positions with a minimum deposit of $5. Spreads are low or even zero; you can use leverage up to 1:888. The downsides to this micro account are that there’s no protection for traders who are trading outside of CySEC’s jurisdiction. You’ll also have to pay $5 monthly after 90 days of inactivity.