XM (XMTrading): Can unemployed or students open an account with XM? We explain the required documents, procedures, and the latest method. XM is a popular FX broker worldwide. XM offers excellent bonuses and support, and its reliability and high execution rate have led to a highly favorable reputation and a growing user base. Many people want to start trading with XM, but can anyone open an account? Forex brokers do not allow minors to open accounts, and some people may be concerned about whether they can open an account due to screening requirements.
- XMtrading
- Can I open an XM account even if I’m unemployed?
- XM Account Opening Procedure and Required Documents
- Required Documents (Identity Verification and Address Verification)
- Important Points to Keep in Mind When Starting Trading with XM Trading for the Unemployed
- Frequently Asked Questions About Opening an XM Account
- Q1. Can I open an account if I’m unemployed, a student, or a housewife?
- Q2. Can minors open an account?
- Q3. Can I use this service if I live in Japan?
- Q4. What documents are required to open an account?
- Q5. Is it okay to take a photo of my documents with my smartphone?
- Q6. How long does the review process take?
- Q7. Is there any cost to open an account?
- Q8. Which account type should I choose?
- Q9. Can I change my leverage later?
- Q10. Will I definitely receive the account opening bonus?
- Q11. Can I trade without depositing?
- Q12. Can I withdraw funds even if I’m unemployed?
- Q13. Do I need to file a tax return if I make a profit?
- Related
XMtrading
| Operating company | Tradexfin Limited Fintrade Limited |
| Head office location | Unit E, F28, Eden Plaza, Eden Island, Republic of Seychelles |
| Founding year | 2009 |
| Financial License | （FSA）SD010：Tradexfin Mauritius Financial Services Commission (FSC：)：Fintrade Limited Cyprus Securities and Exchange Commission (CySEC)：Trading Point of Financial Instruments Ltd |
| Language support | English、日本語、Malay、Thai |
| Platform | MetaTrader 4 (MT4)／MetaTrader 5 (MT5) |
| Service Countries | Over 190 countries |
| Number of users | Over 1 million accounts |
| Max Leverage | 1000x |
| Eligible products | Forex、Metal、Stocks、Equity Indices / Index CFD、Energy CFD、Commodities、Cryptocurrency |
Can I open an XM account even if I’m unemployed?
You can open an XM (XMTrading) account even if you’re unemployed. Your employment status (employed, unemployed, on leave, student, etc.) generally doesn’t affect your ability to open an account. All you need to meet are the basic requirements below. 👇 You can also view information from the homepage. Compare with other companies and consider your options. You can also open additional accounts. The official service also offers campaigns and promotions, giving you multiple investment options.
✔ Requirements for Opening an XM Account Even If You’re Unemployed
✅ Be 18 years of age or older (minors are not eligible)
✅ Your place of residence must be in one of the countries supported by XM (Japan is a supported country)
✅ Submit identification (ID) and address verification documents, and the addresses must match.
As long as you meet these requirements, you can open an account regardless of your occupation or income status. While the application form includes fields for employment type and estimated annual income, these are for statistical purposes and generally won’t result in your application being rejected. You are not required to submit proof of income or employment.
✍️ Important Notes
You must complete the KYC (Know Your Customer) process: submit ID (driver’s license, passport, My Number card, etc.) and address verification (utility bill, etc.) and complete the activation process before you can trade.
Opening an account is free and takes only a few minutes to an hour.
This means that if you’re unemployed, on leave, a stay-at-home mom/husband, or someone who is unemployed, on leave, or a stay-at-home mom/husband,
XM Account Opening Procedure and Required Documents
Below is a summary of the XM (XMTrading) account opening procedure, as well as a guide to the required documents and profile information. We’ll clearly explain the process for opening a real account from Japan. 👇 For reference, details are below. Automated trading is now available, so it’s recommended for advanced members. While objectives will vary depending on the investor, becoming a partner offers many benefits, including content and features.
Start registration on the official website
- Visit the XM official website (Japan page).
- Click the “Open an Account” button to proceed to the application form.
２．Fill out the application form.
The form should include the following:
Name (both Roman letters and katakana)
Country of residence (e.g., Japan)
Date of birth
Phone number and email address
Trading account type, base currency, etc.
Email address verification
A confirmation email will be sent to the email address you registered, so click the link in the email to authenticate.
Upload your ID (account activation)
After applying, log in and complete the identity verification procedure.
Here, submit the required documents to “activate” your account.
Account activation complete
Once the submitted documents have been reviewed, your real account will be activated.
After activation, you will be able to deposit, trade, and receive bonuses.
Required Documents (Identity Verification and Address Verification)
XM requires the following two documents to activate your account (identity verification) via the official browser. Please prepare the following documents correctly. You can operate the process from the screen and enter personal information and certificates. Please note that customers under the age of 18 will be rejected.
✅ ① ID (with POI and photo)
Public identification issued by a government institution, one of the following:
Driver’s License
Passport
My Number Card (※Notification cards may not be accepted)
Notes:
Must clearly display your photo, name, date of birth, and expiration date.
Must be photographed in color.
✅ ② Address Verification Document (POR)
A document that verifies your residential address, one of the following (issued within the past three months):
Utility bill (electricity, gas, water, etc.)
Bank statement
Resident registration card
Credit card statement (with address)
Health insurance card (with address)
📸 Document Photograph and Upload Tips
✔ All four corners of the document must be visible.
✔ Text and photos must be clearly legible.
✔ Image format: JPEG, PNG, PDF, etc. (usually less than 5MB).
⏱ Review and Validation Time
Usually 30 minutes to 1 day after submission. You will receive a notification that your identity has been verified.
Important Points to Keep in Mind When Starting Trading with XM Trading for the Unemployed
Here are some practical points to keep in mind when starting trading with XM Trading (XMTrading) for unemployed people, assuming they live in Japan.
Don’t Use Living Expenses (Most Important)
Trade only with surplus funds.
Don’t use funds from living expenses, rent, or savings.
The higher the leverage offered by XM, the more important it is to start with small amounts and low lots.
Guideline: Start with only an amount that won’t affect your livelihood if you lose it.
Leverage and Lot Management
XM’s high maximum leverage means that even a momentary price movement can result in large losses.
Unemployed people have unstable incomes, so limit losses to 1-2% of your account balance.
Practical Example
0.01-0.03 lots
Always set a stop loss (SL)
Do not trade during indicator announcements
Treat bonuses as a “money management aid”
XM account opening bonuses and deposit bonuses cannot be withdrawn.
Gambling on bonuses is dangerous because they disappear if you incur losses.
👉 Think of bonuses as practice and risk mitigation.
Tax is levied when income is earned (Important)
Even if you are unemployed, profits from FX trading are subject to tax.
If you reside in Japan
XM (overseas FX) profits
→ Miscellaneous income (comprehensive taxation)
Annual profits
Over ¥200,000: Tax return required
Resident tax returns may be required even if the amount is less than ¥200,000
※Even if you are unemployed, the tax office is not involved.
Precautions to Avoid Withdrawal Issues
Only use accounts and cards in your own name
In principle, deposit and withdrawal methods should match
Match your address and name exactly to those on your identification documents
👉 Whether you’re unemployed or not, inadequate KYC is the most common cause of problems.
Practice thoroughly with a demo account
It’s almost impossible to suddenly start winning consistently with a real account.
If you’re unemployed, especially, test your trading strategy with a demo account for at least 1-2 months before making any trades.
Checkpoints
Can you tolerate consecutive losses?
Can you follow the rules?
Avoid emotional trading.
Don’t think of FX as a “source of income”
FX is unstable and unreproducible
Trying to make a quick comeback while unemployed is likely to fail.
👉 The right mindset
“Study + secondary possibilities”
“Don’t rely on it as a living.”
Frequently Asked Questions About Opening an XM Account
The following are frequently asked questions (FAQs) about opening an XM (XMTrading) account, summarized for easy understanding by users residing in Japan.
Q1. Can I open an account if I’m unemployed, a student, or a housewife?
Yes, it is.
Occupation and income status do not affect whether or not you can open an account. As long as you can verify your identity, you’re fine.
Q2. Can minors open an account?
No.
XM requires users to be 18 years of age or older.
Q3. Can I use this service if I live in Japan?
Yes.
XM offers Japanese support and Japanese yen accounts for Japanese residents.
Q4. What documents are required to open an account?
The following two documents:
Identification (with photo)
Driver’s license/passport/My Number card
Address verification document (generally within the last three months)
Utility bill/bank statement/resident registration, etc.
*If your address can be verified using a driver’s license or other document, you may be able to provide only one document.
Q5. Is it okay to take a photo of my documents with my smartphone?
Yes.
As long as the documents are in color and the text and photo are clearly visible, there’s no problem.
Q6. How long does the review process take?
It usually takes between 30 minutes and one business day.
Q7. Is there any cost to open an account?
It’s free.
There are no maintenance or annual fees.
Q8. Which account type should I choose?
For beginners,
👉 Standard Account is the safest option.
(Small amounts and bonuses allowed)
Q9. Can I change my leverage later?
Yes.
You can change it at any time from My Page.
Q10. Will I definitely receive the account opening bonus?
During the campaign period,
it will be automatically credited after identity verification is complete.
*Withdrawals are not permitted; it can only be used as trading funds.
Q11. Can I trade without depositing?
Yes, if you have an account opening bonus. However, there are limits on trading volume and period.
Q12. Can I withdraw funds even if I’m unemployed?
You can withdraw funds without any problems.
Being unemployed does not affect the withdrawal conditions.
Q13. Do I need to file a tax return if I make a profit?
If you live in Japan
Annual profits over 200,000 yen → Tax return required
Even if you’re unemployed, you’re subject to tax.
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