XM Demo Account: Open & Start Trading Risk-Free Today

XM’s Demo Account is a virtual trading platform that accurately replicates real market conditions. It’s an incredibly versatile tool — from learning how to use MT4/MT5 to testing new trading strategies. You can open a demo account with just your email address, with no identity verification documents required and no age restrictions, giving you full access to XM’s outstanding trading conditions.

This guide provides everything you need to get started with XM’s Demo Account — from its key features to how to make the most of it. We cover the step-by-step account opening process, how to choose between MT4/MT5, a comparison of account types, and how to use the platform’s most useful features. By the end, you’ll know exactly how to maximize your demo trading experience and transition to a live account with confidence.

One of the standout advantages of XM’s demo account is that you can manage up to 5 demo accounts under a single Member Area — offering enormous benefits for skill development. You can test multiple trading strategies simultaneously, such as a conservative swing trading approach alongside aggressive scalping techniques for short-term gains. XM also lets you trial different account types to find the one that best matches your trading style, comparing key factors like spreads and overnight swap fees, and evaluating the performance difference between the “Standard Account” and the “Ultra Low Account”. Testing in this simulated environment helps you identify the most suitable and cost-effective account type before committing real capital.

Furthermore, running multiple demo accounts allows you to assess the impact of different leverage levels on risk and return, compare the features and usability of MT4 versus MT5, and efficiently test multiple Expert Advisors (EAs) across several accounts at once. XM’s flexible demo environment is an invaluable preparation step before making the move to a live account.

Once email verification is complete, your first demo account will be created automatically. Your login ID and server name will be sent to you by email.

Once logged in to the XM Member Area, locate the “My Accounts” section on the right side of the screen, then click the blue plus (+) icon in the lower right corner. A pop-up will appear asking you to choose between a “Real” account (for live trading) or a “Demo” account. Select “Demo” to proceed.

When the “Select Your MetaTrader Version” screen appears, choose your preferred platform — MT5 or MT4 — then click the “Continue” button.

XM’s trading platform is MetaTrader, available in two versions: “MT4” and “MT5”. Each version has distinct features and suits different trading styles. In this section, we compare the key differences between MT4 and MT5 to help you make the most informed choice.

MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both industry-standard trading platforms widely used by traders around the world, and both are available on XM. MT4 is primarily designed for Forex trading and is renowned for its simplicity and stability, while MT5 supports a broader range of markets (such as stocks and futures) and offers more advanced analytical tools. XM provides both platforms free of charge, so you can choose whichever best suits your requirements.

The key differences are that MT5 offers more timeframes and order types, as well as improved backtesting functionality. That said, MT4 remains popular among many traders and boasts a vast library of custom EAs and indicators available for use.

• Those new to Forex trading
• Those who want to use Expert Advisors (EAs / automated trading systems)
• Those who want access to an abundance of learning resources

• Those who trade actively and manually
• Those who require a diverse set of analytical tools
• Those interested in trading a broader range of financial instruments, such as stock CFDs

As such, if you intend to use EAs or specific trading tools developed for MT4, we recommend choosing MT4. However, if you have no particular dependency on those tools, opting for MT5 — with its greater functionality and stronger long-term prospects — is generally the better choice.

There are two account types available for XM’s demo account: the “Standard Account” and the “Ultra Low Account”. Please note that the “Micro Account” and “Shares Account” (designed exclusively for stock trading) are not available in the demo environment. Below is a comparison table of XM’s account types.

Since bonuses are not available in demo accounts, we recommend the Ultra Low Account for its superior trading conditions. However, please note that the Ultra Low Account includes Free Swap — so if generating income from swap points is part of your strategy, the Standard Account may be worth considering.

The “Additional Account Settings” screen will appear. Select your leverage, choose your base currency, set your starting balance, then click the “Continue” button.

For leverage, we recommend using XM’s maximum leverage of 1,000x. In Forex trading, using high leverage allows you to open larger positions with a smaller amount of capital, maximising the efficiency of your funds.

For the account base currency, we recommend selecting the currency you use in your day-to-day finances. If you deposit in a currency different from your account base currency, the system will automatically convert it using the European Central Bank (ECB) exchange rate, which may result in a slightly lower actual deposit amount.

In XM’s demo account, settings other than leverage — such as MetaTrader version, account type, and base currency — cannot be changed after the account is created. We therefore recommend taking the time to configure these carefully before proceeding.

Your demo account has been successfully created. The account details, including your balance and account number, will be displayed on the “My Accounts” page. You can start trading immediately from this page, or download MT4/MT5 to trade on your computer or mobile device.

XM’s demo account has no time limit as standard, but if you haven’t logged in for 60 consecutive days from your last login, the account will be automatically suspended and cannot be reactivated. This system is designed to manage server resources efficiently. To keep your demo account active, maintain regular activity using one of the following methods.

Even if your demo account is suspended after the 60-day period, you can easily open a new one using your existing XM account. However, your trading history and any important test results from the past will be lost. We therefore recommend making every effort to keep your demo account active.

XM’s live accounts are available in five types: “Standard”, “Standard Micro”, “Ultra Low”, “Ultra Low Micro”, and “Shares”. However, in the demo environment, only two types are available: “Standard” and “Ultra Low”.

When transitioning from demo to live trading, it’s important to understand the characteristics of account types that cannot be tested in demo. In particular, the Micro Account has a trade size 100 times smaller than the Standard Account, making it ideal for risk management and traders with smaller capital — but you won’t be able to experience this directly in the demo environment.

With most brokers’ demo accounts, spread widening and price calculation delays are typically smoother than in real market conditions. XM is significantly different in this regard — XM’s demo account is designed to replicate live market conditions as closely as possible.

For this reason, particularly when using Expert Advisors (EAs) or custom indicators, performance may vary between normal periods and peak usage times. We therefore recommend testing automated trading systems not only on a demo account, but also on an Ultra Low Micro live account — which is well-suited for EA testing with minimal risk.

With XM, you can easily change your leverage or reset your account balance directly from the Member Area. Using the leverage change feature, you can test the same trading strategy across a range of leverage settings from 1x to 1,000x, helping you understand the risk-reward balance in a practical, hands-on way.

XM’s demo account includes a balance reset feature, allowing traders to experience the psychological and decision-making differences that come with trading different amounts of capital — from careful, conservative management with a smaller balance to aggressive trading with a larger one. This helps you mentally prepare for the realities of live trading.

XM makes it easy to close any demo account you no longer need. This is useful for removing the MT5 Standard USD account that is automatically opened upon first registration with XM, or for closing an account to reset its trade history before testing a new Expert Advisor (EA).

XM’s trading platforms give you access to advanced charting analysis, automated trading systems, and global financial markets. Download the version that suits your device and start your professional trading experience right away.

To master MT4 and MT5 as quickly as possible, we highly recommend watching the tutorial videos provided by XM. These videos cover every essential step to get you started, from basic platform configuration to chart analysis and order placement.

These tutorials cater to a wide audience, from complete beginners to experienced traders, and cover both MT4 and MT5. As MT5 is an evolution of MT4, their core functionality is remarkably similar. This means you can comfortably use the MT4 tutorials as a solid foundation to learn MT5 with ease.