XM allows you to choose an account type when opening an account. But have you ever wanted to change your account type after opening? Although it is a different method, you can say that you change the account type. I wrote an article about how to do that.
How to change account type
Once you decide on the account type for a real account, you cannot change it. Since it is not possible to change the account type, use another method to use a different account type. Standard accounts, micro accounts, zero accounts, and even the popular KIWAMI accounts are not changes, but new additions. All account types have different CFD product details, trading tools, and even margin calculations.
Investor benefits
Investor benefits vary depending on account type. For standard and micro accounts, there are bonuses and limited-time campaigns. Users also receive cashback and can earn back by applying for XMP Loyalty Points. Loss cuts and zero cuts are also adopted when losses are incurred.
Many trading methods
There are many trading methods available for any account type. You can scalp, trade, and trade automatically with a simple button click. You can also adjust the order lot, and the maximum leverage is 1000x. Swap points will be generated when you trade across days.
use additional accounts
It is not possible to change the account type directly on an existing account. But create another account and use a different account type. Select the account type you want to use when creating a new account. Please refer to the article below for how to create an additional account.
additional account limit
XM Trading allows you to add up to 8 accounts. Use this additional account mechanism to use different account types.
Certificate when opening an additional account
When you open a new account, you will be required to provide proof of identity and proof of address. However, it is not necessary at all when opening an additional account. Therefore, it can be created immediately.
Activate automatically
Once you have activated the account, the added account will be activated automatically. You can add an account without any troublesome procedures. Therefore, it is possible to create immediately without confirmation work of the support center.
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things that cannot be changed
In addition to the account type, there are some account information that cannot be changed.
base currency
When you opened your account, you probably chose a base currency. However, it is not possible to change the base currency on an account after it is created. Similar to when you want to change the account type, you need to create an additional account.
Exchange loss
Please note that exchange losses will occur. If you change the base currency of your account, you may lose money depending on the exchange rate at the time of deposit and withdrawal. Of course, you can also benefit from exchange rate fluctuations.
Transfer of fund
Also remember that there is a fee for transferring funds between accounts with different base currencies. If you transfer between accounts with different base currencies, a 3% fee will be charged on the transfer amount. Be careful if you transfer funds between accounts with different base currencies.
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