XMTrading has an account type called micro account. It is possible to start trading with a small amount, and there are advantages and disadvantages compared to standard accounts regarding currency, lots, and trade features. Micro accounts are a minor account type because not many users open them, but they do have some benefits, so it is one of the account types that we recommend opening.
What type of account is a micro account?
Micro accounts are a relatively minor account type, with only about 10% of users opening them at XMTrading. This is because most users choose standard accounts. Standard accounts are orthodox and have the clear characteristic of being suitable for beginners, but what are the characteristics of micro accounts? Compared to standard accounts, the type is different, and the maximum lot size is different, so the battle in trading is completely different. This account is for practice, and there is not much point in having multiple accounts. If you want to do gold or silver, we recommend Kiwami.
bonus spreads
The spreads tend to be exactly the same as standard accounts. The spreads on micro accounts are basically the same as standard accounts, so the advantages and disadvantages are the same as standard accounts, and they are not suitable for scalping. There are no bonuses on KIWAMI or Zero accounts, but the spreads are narrow. The pips for micro are shown below. If you change it, the setting will change per lot. It’s basically the same for virtual currency and natural gas. To maintain an optimal position 24 hours a day and fight advantageously, you need a strategy to match. You will solve the problem as you get used to it.
| Micro | Standard | |
| USDJPY | 1.60 | 1.60 |
| EURJPY | 2.35 | 2.35 |
| GBPJPY | 3.73 | 3.73 |
| AUDJPY | 3.52 | 3.52 |
| NZDJPY | 3.41 | 3.41 |
| EURUSD | 1.66 | 1.66 |
| GBPUSD | 2.43 | 2.43 |
| AUDUSD | 1.71 | 1.71 |
| AUDNZD | 3.77 | 3.77 |
| XAUUSD | 3.50 | 3.50 |
In addition, bonuses and leverage are available in the same way as with the standard account. The deposit bonus is also exactly the same as the standard account, and you can get a 20% or 100% bonus. The loyalty program is also the same, and points are awarded in the same way as with the standard account. The specs are reasonable compared to the standard account, so it’s worth joining.
| Standard | Micro | |
| account opening bonus | 13000 | 13000 |
| deposit bonus | 〇 | 〇 |
| loyalty bonus | 〇 | 〇 |
| leverage | 1000 | 1000 |
1 lot is 1000 currency
The biggest feature and information of a micro account is that the value of 1 lot is the minimum, at least 1000 currencies. The currency amount compared to 1 lot in a standard account is 100 times different. One lot in a standard account is 100 times that amount, 100,000 currencies. There is a considerable difference between a micro account and a standard account even for the same one lot, so be careful when ordering. It is an account type for users who want to make small-value transactions and trial transactions, so it can be said to be one of the accounts suitable for new investment beginners. Big profits are not expected and are small.
Zero cut system
XM has adopted a zero cut system for all account types. When trading with high leverage, if you are caught in a sudden market fluctuation and the forced loss cut does not work, there is a possibility that a negative amount exceeding the account balance will occur. In the case of the zero cut system, XM compensates for the negative amount, so there is no risk of incurring debt.
Comparison of account types in XM
Please refer to the article below for a comparison between Micro Accounts and other account types. We have provided a comparison table, so we hope it will be helpful. If you are a trader looking to gain experience for the first time, we recommend a Micro Account. Although you must submit documents, unlike a Zero Account, there are bonuses and campaigns from the management. Promotions are also applied and you can earn points, so be sure to receive them from your My Page. There are plenty of bonuses, and you will be able to earn a lot from the tools on your smartphone.
Disadvantages of micro accounts
The disadvantages of micro accounts are almost similar to standard accounts, so they have similar disadvantages. It has many good reviews, is popular, and offers many brands, but if you look at the details, it may not be suitable for some members. Let’s try it out first.
Accounts for beginners
Micro accounts are also beginner-friendly accounts at XM. You can trade either by entering lots while looking at the chart, but the size of the trading volume is small, so it is a disadvantage for professionals and an advantage for beginners. First, access XM, log in, and check from the home page. You can start with a demo for free. There are a large number of target products and symbols, and you can trade at any time once registration is complete. Click on XM now to trade CFDs.
Perfect for practice
Micro accounts are also beginner-friendly at XM, so they may be a disadvantage, but they are perfect for practice. You can check the specifications in detail from the menu on the website. You can start while limiting your important funds, so you can trade efficiently. You can place small test orders and use the content, so it is recommended for those who want to try it out. It is not suitable for those who want to prepare a full amount of money. The trading costs are low, so it is a good opportunity.
Not suitable for scalping
As explained above, micro accounts have wide spreads, making it difficult to generate profits and losses, so they are not suitable for automated trading services or scalping. It is suitable for methods such as day trading, which settles in a few hours, or swing trading, which settles in a few days or weeks. It’s not easy because it’s not suitable for short-term battles. There are no contract rejections.
Multiple openings
Each person can only create one micro account. XM allows a maximum of 8 accounts to be opened per person. Therefore, you can open multiple micro accounts of the same account type. For additional accounts, procedures such as submitting personal information and identity verification documents on the official website are not required and are not eligible. You can also receive bonuses on additional accounts. Investors have low risk and a fairly stable environment.
can’t earn big
Micro accounts have the advantage that the currency unit is small, but conversely, you cannot earn a lot. Since the currency unit is small, even if you enter with the same 1 lot, the loss amount will be smaller than the standard account or zero account, but you can not earn big. Therefore, it can be said that it is an account for beginners who want to reduce risk.
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