XM account opening is a crucial step for starting FX trading. This article provides a detailed guide on the XM account opening process, required documents, verification time, and bonus information. To help beginners complete the procedure with confidence, we have explained everything in a clear and easy-to-understand manner. Use this guide as a reference to get started seamlessly.
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ToggleWhat is XM Account Opening?
XM account opening refers to registering with XM Trading (XM), an international FX broker, to create a dedicated trading account for forex trading. Founded in 2009, XM has become a popular broker among traders worldwide. It is particularly well-regarded among Japanese investors due to its high leverage, generous bonuses, and stable trading environment.
One of XM’s most notable features is its industry-leading leverage of up to 1,000:1. This allows traders to open large positions even with a small amount of capital, maximizing trading efficiency. Additionally, new account holders receive a 3,000 JPY bonus, enabling them to try trading without making an initial deposit.
XM supports the globally popular MT4 and MT5 trading platforms, offering seamless trading experiences on both PC and mobile devices. With low trading fees and competitive spreads, it is well-suited for short-term trading and scalping strategies. These features make XM a preferred choice for both beginner and advanced traders.
There are multiple account types available, including Standard, Micro, and Zero accounts, allowing traders to select the one that best matches their trading style. The Zero Account, in particular, offers extremely low spreads and an ECN-like trading environment, making it an excellent option for scalping traders.
By completing XM account opening, traders gain access to high-leverage trading, attractive bonus programs, and a well-optimized trading environment for forex trading. Next, we will provide a detailed guide on how to open an XM account.
XM Account Opening Procedure
The XM account opening process is simple and can be completed entirely online. Even beginners can apply with ease, thanks to an intuitive registration form and straightforward steps. The account opening process consists of three main steps: entering registration details, submitting verification documents, and activating the account.
Step 1: Access the Official XM Website and Start Registration
First, visit the official XM website and click the “Open an Account” button. This will take you to the registration form, where you will need to enter your personal information, including full name, email address, phone number, and country of residence.
Make sure to enter your name and address in English as required. Checking the correct spelling in advance will help ensure a smooth process. You will also need to select a trading platform (MT4 or MT5) and an account type (Standard, Micro, or Zero).
Step 2: Enter Personal Information and Set Trading Preferences
Next, you will be required to enter additional personal details, such as your date of birth, address, trading purpose, and investment experience. Providing accurate information is crucial, as XM follows strict financial regulations to prevent fraud.
At this stage, you will also need to choose your base currency (JPY, USD, EUR, etc.). Most Japanese traders prefer JPY, but some may opt for USD depending on their international transfer preferences. You will also set your leverage (from 1:1 to 1:1000) and indicate whether you want to receive bonuses.
Step 3: Submit Identity Verification Documents
To officially open your account, you must submit Know Your Customer (KYC) verification documents. XM requires two types of documents to be uploaded:
- Proof of Identity (ID): A passport, driver’s license, or My Number card is required for identity verification.
- Proof of Address: A bank statement, utility bill, or credit card statement showing your address must be submitted.
You can simply upload photos of these documents taken with a smartphone. However, blurry images or missing parts of the document may delay the review process, so ensure the photos are clear and fully visible.
Step 4: Account Review and Activation
Once the documents are submitted, XM will review your application. The verification process is typically completed within one business day, and if there are no issues, you will receive a confirmation email with your MT4/MT5 login credentials and server information. Be sure to keep this email safe.
After your account is activated, you can start trading immediately. Simply make a deposit, install MT4 or MT5, and begin FX trading. If you are eligible for the 3,000 JPY new account opening bonus, it will be credited automatically once the account is activated—no additional steps are required.
This completes the XM account opening process. The procedure is straightforward, and even beginners can complete it without difficulty. By preparing the required documents and entering accurate information, you can ensure a hassle-free account setup.
How Long Does the XM Account Opening Verification Take?
How Long Does XM’s Verification Process Take?
The XM account opening verification is usually completed within one business day. In many cases, if the submitted documents meet all requirements, the account can be activated within a few hours. If the application is submitted on weekends or public holidays, the verification process will not begin until the next business day, which may result in a longer wait time.
XM is known for its fast verification process, especially when applications are submitted during weekday business hours. Once the application is completed, an email confirmation will be sent to the registered email address, allowing applicants to check their verification status at any time.
Tips for Faster Verification
To ensure a smooth and quick verification process for XM account opening, there are a few important factors to consider. First, the quality of the identity verification documents and proof of address is crucial. If the images are blurry or some parts of the documents are cut off, the review may be delayed. It is best to take clear, high-resolution photos in a well-lit environment before submitting them.
It is also essential that the personal information entered during the account registration matches exactly with the information on the submitted documents. Even small differences, such as variations in address formatting, can prolong the verification process. Careful attention should be given to spelling, especially in Romanized names, to avoid unnecessary delays.
Reasons for Delayed Verification and How to Avoid Them
One common reason for verification delays is incomplete or incorrect documentation. In particular, if the proof of address is too old, resubmission may be required. XM requires proof of address to be issued within the last three months, so it is important to check this before submitting documents.
The verification process operates only during weekday business hours, so applications submitted on Friday evenings or weekends may not be reviewed until Monday or later. For those looking to start trading quickly, submitting the application earlier in the week or in the morning is recommended.
If the verification process seems to be taking longer than expected, check the registered email address to see if there is a request for additional documents. If there is no update, contacting XM’s support team can help clarify the application status.
Details of the XM Account Opening Bonus
What is the XM Account Opening Bonus?
XM offers a 3,000 JPY account opening bonus for new users. This bonus is automatically credited once the account is created, allowing traders to test XM’s trading environment without making a deposit. For beginners, this provides a valuable opportunity to experience FX trading without risking personal funds.
The bonus can be used as margin for actual trading, meaning it allows users to place trades. However, the bonus itself cannot be withdrawn—only the profits generated from trading with the bonus can be withdrawn. To make a withdrawal, traders must meet a certain trading volume requirement.
How to Receive the Bonus
The XM account opening bonus is automatically granted once the account registration process is completed and identity verification documents are approved. No additional application is required; the bonus will be credited to the MT4 or MT5 trading account as soon as the account is activated. Traders can check the credited bonus directly on the trading platform.
It is important to note that the bonus must be claimed within 30 days of opening the account. If not claimed within this period, eligibility for the bonus will expire. To avoid missing out, it is recommended to complete account activation and start trading as soon as possible.
How to Use the Bonus and Key Considerations
Since the XM account opening bonus can be used as trading margin, traders can test the platform before investing their own funds. By applying leverage, even a small bonus amount can be used to open larger positions.
To withdraw profits earned using the bonus, traders must meet specific trading volume requirements. The exact conditions can be found on XM’s official website. Furthermore, if an account remains inactive after receiving the bonus, it may be revoked after a certain period. To keep the bonus active, regular trading is recommended.
Overall, the XM account opening bonus is a highly beneficial feature, especially for FX beginners. It allows new traders to gain experience in a real trading environment without financial risk, making it an attractive option for those looking to start forex trading.
Frequently Asked Questions About XM Account Opening
Q1: Is there an age restriction for opening an XM account?
A: Yes. XM account opening is only available to individuals who are 18 years or older. Even with parental consent, minors are not allowed to open an account.
Q2: Are there any fees for opening an XM account?
A: No. XM account opening is completely free, and there are no maintenance fees. Even if you do not trade for a while, there is no cost to keep your account open. That said, if the account remains inactive for more than 90 days, it may be classified as dormant, and a maintenance fee could be charged.
Q3: Can I start trading immediately after opening an XM account?
A: Yes. Once your identity verification documents are approved and the account is activated, you can start trading right away. By using the no-deposit bonus, you can try trading without making an initial deposit.
Q4: What documents are required for account verification?
A: You need to submit the following two types of documents to complete XM account opening:
- Proof of Identity (Passport, Driver’s License, My Number Card, etc.)
- Proof of Address (Bank statement, utility bill, or other documents issued within the last three months)
Q5: Can I open multiple XM accounts?
A: Yes. XM allows each user to open up to eight accounts. However, the welcome bonus is only applied to the first account.
Conclusion
The XM account opening process is simple and can be completed by anyone with ease. The verification process is quick, and generous bonuses are available, making it a great option for beginners to start FX trading with confidence. If you are considering trading with XM, use this guide to complete your account setup smoothly.
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