XM Trading Account Types: Find the Setup That Fits

Account Types at a Glance

XM Trading offers four main live account categories. Each serves a different trading profile.

• Micro Account – Commission-free account using micro lot sizing (1 lot = 1,000 units), suited to small capital and low-volume trading.
• Standard Account – Commission-free account using standard lot sizing (1 lot = 100,000 units), designed for general retail forex and CFD trading.
• Ultra Low Account – Available in two subtypes (Ultra Low Micro and Ultra Low Standard), built for traders who want tighter spreads and lower overall trading costs.
• Shares Account – A high-capital account focused exclusively on share CFDs, with a commission structure and a minimum deposit of 10,000 USD.

All four account types support MT4 and MT5. All include negative balance protection, hedging, and scalping. Islamic (swap-free) versions are available across all types.

Full Comparison Table

Note: Leverage reduces as deposit size increases. Deposits between 20,001 USD and 100,000 USD attract 1:200 leverage. Deposits above 100,000 USD receive 1:100.

Individual Account Breakdowns

Micro Account

The Micro account is the entry point for small capital. The minimum deposit is 5 USD (approximately KES 650 at current rates). One standard lot equals 1,000 units of the base currency, not the usual 100,000. This means a 0.01 lot trade controls only 10 units. That is genuinely small exposure.

Spreads on EUR/USD start from around 1.6 pips during active market hours. There is no commission on any trade. Leverage goes up to 1:888 for accounts funded with 5 to 20,000 USD. If you deposit 10 USD and open a 0.01 lot EUR/USD position, your pip value is roughly 0.001 USD. Losses are contained at that scale.

This account suits traders who want live market experience without significant capital risk. It also works for testing a strategy under real execution conditions before scaling up.

Standard Account

The Standard account uses full standard lot sizing (1 lot = 100,000 units). The minimum deposit matches the Micro account at 5 USD. Spreads on EUR/USD also start from 1.6 pips, and there is no commission.

The key difference from the Micro account is position sizing. A 0.01 lot trade on the Standard account controls 1,000 units of the base currency. That is 10 times larger than the same trade size on a Micro account. Pip value on a 0.01 lot EUR/USD Standard trade is approximately 0.10 USD. Manage your margin accordingly.

The Standard account is the default choice for retail traders who want straightforward commission-free access to forex and CFDs. It is not optimised for cost efficiency on high-frequency or high-volume trading.

Ultra Low Account

The Ultra Low account exists in two subtypes: Ultra Low Micro and Ultra Low Standard. Both carry a minimum deposit of 50 USD (approximately KES 6,500) based on Kenyan market data. This is the practical entry threshold for this account type.

The defining feature is the spread. EUR/USD spreads start from 0.6 pips on the Ultra Low account, compared to 1.6 pips on Micro and Standard. That 1 pip difference compounds significantly on active trading. If you execute 20 trades per week on a 0.1 lot position, the cost saving is measurable.

Ultra Low Micro uses 1,000-unit lot sizing with a minimum volume of 0.1 lot. Ultra Low Standard uses 100,000-unit lot sizing with a minimum volume of 0.01 lot. Base currencies are limited to EUR, USD, GBP, AUD, ZAR, and SGD. There is no commission on either subtype.

This account suits scalpers, higher-frequency traders, and anyone for whom spread cost is the primary variable in profitability.

Shares Account

The Shares account is a separate product. It requires a minimum deposit of 10,000 USD (approximately KES 1.32 million). The base currency is USD only. It is designed for share CFD trading, not forex or standard CFD instruments.

Unlike the other three accounts, the Shares account charges commission per lot traded. The minimum trade volume is 1 lot. This structure is not suitable for small capital or forex-focused traders.

If your primary goal is equity exposure through CFDs and you have the capital to meet the minimum, this account is the relevant option. For the majority of Kenyan retail traders, the Micro, Standard, or Ultra Low account will be the practical choice.

Which Account Is Right for You

Use this decision framework before you open an account.

Apply if-then logic to your situation:

If you have less than 50 USD to start, your only realistic options are Micro or Standard. If you are testing a scalping strategy, Micro keeps individual trade exposure minimal. If you are running a strategy with defined pip targets and want to reduce spread drag, move to Ultra Low once you can meet the 50 USD threshold. If you are trading share CFDs with significant capital, Shares is the only relevant account.

Do not choose Ultra Low Micro if your strategy requires 0.01 lot minimum volume. The minimum on Ultra Low Micro is 0.1 lot. That is ten times larger than the Micro or Standard account minimums.

How to Open or Switch Accounts

Opening an XM Trading account in Kenya follows a defined sequence. Complete each step before moving to the next.

1. Visit the XM Trading website and click the registration button. Fill in your full name, email address, phone number, and date of birth.

2. Select your trading platform (MT4 or MT5), your account type (Micro, Standard, Ultra Low, or Shares), and your base currency. KES is not available as a base currency. Most Kenyan traders select USD.

3. Complete KYC verification. Upload a valid national ID or passport. Submit proof of address (a utility bill or bank statement). Complete the selfie or face verification step. Trading cannot begin until the profile is validated.

4. Fund your account. XM accepts M-Pesa, Visa, MasterCard, Skrill, Neteller, WebMoney, Astropay, and bank transfer. XM charges no internal deposit fees. Bank transfer withdrawals below 200 USD may incur a fee of approximately 15 USD. M-Pesa deposits and withdrawals typically process within one business day.

5. Log in to MT4 or MT5 using the credentials sent to your email. Navigate to the account dashboard to confirm your balance before placing any trade.

You cannot change an existing account’s type. If you want to switch from Standard to Ultra Low, you must open an additional account. XM allows up to eight live accounts per client. To add an account, log in to the Members Area, select the option to open an additional account, and repeat the account setup process from step 2.

Islamic and Swap-Free Accounts

XM Trading offers Islamic (swap-free) versions of all four account types. These accounts remove overnight swap charges (the interest debited or credited when a position is held past the daily rollover at 00:00 server time).

The trading conditions on Islamic accounts mirror their conventional counterparts. Minimum deposits, spreads, commissions, leverage, and lot sizes remain identical. The only structural difference is the removal of swap fees.

To request swap-free status, indicate this during the account registration process or contact XM support after account creation. The platform applies Islamic account conditions at the account level, not per instrument.

Swap-free accounts are relevant for traders whose religious principles prohibit interest-bearing transactions. They are also used by some traders who hold positions for extended periods and want to eliminate swap as a cost variable.

Fees, Inactivity Rules, and Key Conditions

Understanding the cost structure prevents unexpected deductions.

The inactivity fee draws from available free margin in the account. If the balance reaches zero, the account is archived. Keep this in mind if you open an account and delay trading.

Withdrawals must return to the original funding method first. If you deposited via M-Pesa, withdraw back to M-Pesa up to the deposited amount. Profits beyond the deposited amount can be withdrawn via alternative methods such as Skrill or bank transfer. Third-party payments are not accepted. The account name must match the funding source name.

Pre-Deposit Checklist

Before funding your account, confirm the following:

• Account type selected matches your deposit amount and strategy (check the comparison table above).
• KYC documents uploaded and profile validated.
• Base currency chosen (USD recommended for most Kenyan traders given M-Pesa conversion).
• Funding method confirmed (M-Pesa for fast local transfers, or Skrill/Neteller for e-wallet convenience).
• Inactivity policy understood – only open accounts you intend to use within 90 days.
• Islamic account status requested if applicable.
• Leverage level noted relative to your deposit size (deposits above 20,000 USD trigger reduced leverage).

XM Trading account types cover a defined range of capital levels and trading styles. Match the account to your actual deposit, your minimum trade size requirements, and your spread sensitivity before you click register.