What is an XM demo account?
An XM demo account is a simulated trading account offered by XM that mirrors live market conditions while using virtual funds. It is designed for beginners to learn trading and for experienced traders to test strategies without financial risk. Demo accounts support the same platforms XM offers (MT4 and MT5), including the same order types, indicators, and tools.
Why use a demo account first?
- Practice placing orders and managing positions without losing real money.
- Familiarize yourself with MT4 or MT5 features and the XM interface.
- Backtest and forward‑test strategies in live market conditions using virtual funds.
- Check execution speeds, spreads, and platform reliability before funding a live account.
Step-by-step: How to open an XM demo account
Choosing between MT4 and MT5
Both MT4 and MT5 are supported. MT4 remains popular for forex trading and expert advisors (EAs), while MT5 offers more asset classes and a built‑in economic calendar. Choose MT4 for simplicity and wide EA support; choose MT5 if you plan to trade stocks or use newer features.
Best practices while using a demo account
- Trade with realistic sizes: Simulate position sizes you'd use in a live account to get realistic risk experience.
- Keep a trading journal: Record entries, exits, and reasons to evaluate your strategy.
- Test under different market conditions: Run your strategies during news events and quiet hours to see performance variance.
- Set rules for switching to live: Define performance metrics and a verification checklist before moving to real funds.
Open an XM demo account now — or proceed to open a live account using our affiliate link for exclusive onboarding resources and support.
Open XM Account (affiliate)Switching from demo to live account
When you feel confident, create a live XM account through the same platform. Live accounts require identity verification (KYC) and a deposit. Use this internal guide for more on comparing brokers and choosing account types: TrustedFX Trading.
Common issues & quick fixes
- Cannot login to MT4/MT5: Check server name, copy/paste login details exactly, ensure no extra spaces, and verify firewall/antivirus is not blocking the platform.
- Email not received: Check spam folder and allow email from XM; request resend from the demo registration page.
- Platform disconnects: Use the mobile app or web trader to test connection; try another server if available.
Frequently asked questions (SEO optimized)
- Is the XM demo account identical to a live account?
- Functionally, yes — demo accounts use the same platforms and instruments. However, demo pricing may differ slightly from live spreads during unusual market conditions.
- Can demo profits be withdrawn?
- No. Demo account balances are virtual and cannot be withdrawn. Use demo to refine strategies before trading with real funds.
- How many demo accounts can I open with XM?
- XM usually allows multiple demo accounts so you can test different platforms, strategies, or timeframes simultaneously. Check your dashboard for the current limit.
- Do I need to deposit to use a demo account?
- No. Demo accounts are free and do not require any deposit. Live accounts require a deposit depending on the account type you select.
Conclusion
A demo account with XM is the safest way to learn trading mechanics, test strategies, and gain confidence before moving to a live account. Follow the step-by-step instructions above, practice consistently, and use the checklist provided in our TrustedFX guides when you transition to real trading.