XM Demo Account: Is It the Same as Real? How to Open It and Log In to MT5

An XM demo account is free, and you open it in the XM Members Area (opens in a new tab) in a few minutes. You use the MT5 app only to log in after that.

Is an XM Demo Account the Same as a Real Account?

For trading costs and trading rules, yes. We compared every instrument on XM demo accounts and real trading accounts, and every setting matched.

Spreads and swaps

A demo account shows the same spread and the same swap that a real trading account pays. So the result of a demo trade already includes the real trading cost.

The table below shows the average spread on a Standard account, read on both accounts at the same moments.

	Demo account	Real trading account
EURUSD	1.95 pips	1.95 pips
USDJPY	2.43 pips	2.43 pips
Gold, per ounce	$0.54	$0.54
US100 index	2.9 points	2.9 points

The Ultra Low Standard account gave the same result. The swap, the lot sizes, the margin and the stop-out level were also the same on every instrument.

Rebates and bonus

A real trading account can cost you less than the demo account shows. When you open a real trading account with the Forex FanClub partner code, part of every spread comes back to you as a rebate.

1 trade on EURUSD, Standard account

	Demo account	Real trading account
Spread	2.1 pips	2.1 pips
Rebate paid back	none	−0.8 pips
Your cost	2.1 pips	1.3 pips

Trades closed within three minutes earn no rebate. The XM rebate guide explains the other conditions.

A real Standard trading account can also get XM’s deposit bonus, which adds to your margin. A demo account gets no bonus.

Demo balance

Set the demo balance to the amount that you will really deposit. Then each gain and loss on the demo account has the same weight as on your real trading account.

A new demo account starts with $10,000, so the same loss looks much smaller than on a small deposit.

Account balance	A $20 loss is
$10,000	0.2% of the balance
$100	20% of the balance

On XM, you can change the demo balance at any time. See what you can change further down.

Slippage

The one cost that we cannot compare is slippage. The price you get can differ from the price you asked for, and this gap changes with every order. So a fair comparison of slippage would need a very large number of real trades with real money.

How Do You Open an XM Demo Account?

• New to XM
  Register, and XM opens your first demo account automatically. The XM registration guide shows each step.
• Already with XM
  Log in to the XM Members Area (opens in a new tab), and follow the 6 steps below.

The lowest starting balance is $1,000. To practise with less, change the balance after opening, as shown in what you can change further down.

How Do You Log In to MT5 With an XM Demo Account?

Log in with the MT ID, the server and the password of the demo account. The password depends on how the demo account was opened.

• Opened when you register
  The demo account that XM opens at registration uses your XM profile password.
• Added from + on Home
  The demo account uses the password that you chose for it in the last step of opening it.

The steps below are for a phone. On a PC, the XM MT5 setup guide shows the login steps.

Forgot the password of a demo account that you added? On the demo account card, tap Manage, then Change MetaTrader Password.

How Long Does an XM Demo Account Last?

An XM demo account stays open for as long as you use it. XM closes it automatically after 60 days without use.

You can open a new demo account at any time, and you can hold up to 5 demo accounts at a time.

Other brokers set their own limits, and some close an unused demo account in under a month. Our comparison of forex demo accounts across brokers shows how long each one lasts.

What Can You Change After Opening a Demo Account?

• Balance
  On the demo account card, tap Set Balance and type the amount, for example $100.
• Leverage
  Under Manage, tap Change Leverage and choose from 1:1 to 1000:1.
• Account type or MT4
  A demo account keeps its account type and its MetaTrader type. For Ultra Low Standard or MT4, open a second demo account.

When Should You Move to a Real Trading Account?

Once your demo trades make a profit, open a real trading account. Practise with the balance that you plan to deposit until then.

A demo account cannot become a real trading account, so you open a new one.

• New to XM
  Open your first real trading account with the button below. The trading account then earns the Forex FanClub rebate on every lot you trade.
• Already with XM
  In the Members Area, add a real trading account and type GJQYM in the Partner Code box. The XM partner code guide shows each step.

Questions People Ask About the XM Demo Account

Is the XM demo account free?

Yes. A demo account needs no deposit, and the money in it is virtual.

Can I withdraw the profit from a demo account?

No. The profit on a demo account is virtual money. To trade with real money, open a real trading account.

Is there an XM Micro demo account?

No. XM demo accounts come in Standard and Ultra Low Standard. For small trades, use 0.01 lot on a Standard demo account.

How many XM demo accounts can I have?

Up to 5 at a time. XM closes a demo account after 60 days without use, and you can then open a new one.

Which password do I use for MT5?

It depends on how the demo account was opened. The demo account that XM opens at registration uses your XM profile password.

A demo account that you add later uses the password that you chose for it. The server and the MT ID are under Manage, then MetaTrader Login Details.

The XM login guide shows which password to use for the Members Area and for each trading account.

Is the XM demo competition the same as a demo account?

No. XM’s demo competitions run on XM’s own competition page, not in MT4 or MT5, and you need a verified real trading account to enter.

The XM demo competition guide shows how to join for free and what you can win.

Which XM Guide Do You Need Next?