XM offered new account type with the concept of zero spread trading, but only to client in some countries. Nonetheless. the broker's effort can be recognized as a new step to provide more variable account ranges in the future.

Ever since their site restructuring several months ago, XM broker had made significant changes regarding the account types. Their decision to simplify account choices resulted in only two types of trading account opened for their clients, Micro and Standard. However, it appears that there is a new addition in their account list called XM Zero Accounts. However, this new addition has not been officially introduced by the broker as it is only opened for clients in few areas. What are the account's specialties compared with the other established account types?

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A simple as it may sound, XM Zero Account is indeed offered for those looking for zero spread condition. Over the time, XM has been trying to evenly give the best trading conditions for clients registered in all account types. This is shown from the similar conditions of minimum deposit, bonus eligibility, base currency option, spreads, islamic account option, and execution policy between Micro and Standard Account. The only differences from the two accounts center around trading size limitations and maximum leverage. With the opening of new Zero Account, does XM still keep its vision to offer the same trading condition for all account types?

 

Different Not Only In Spread Condition

To answer that question, we can start from the easiest point: spread condition. Zero Account clearly enables XM's clients to trade with  spread starting from 0 pips, different from the other two accounts' condition where the minimum spread rate starts from 1 pips. Minimum deposit for this account is actually the most expensive, as clients need to pay a minimum amount of $200 to fund their Zero Accounts.

We can also distinguish this account from the base currency choices which only consist of USD, EUR, JPY. Compared with Micro and Standard Accounts that enable clients to pick 11 base currencies ranging from USD to ZAR, this condition obviously shows a minus point. Furthermore, Zero Account clients cannot apply for swap-free trading as Islamic account choice here is not optional at all. On the other side, we can stll see some similarities between Standard and Zero Account from the contract size, leverage, and maximum open orders.

 

Only Available In Certain Countries

Unfortunately, Zero Account is still very new and limited only to clients in Singapore, Thailand, and Hungary. There is no official statement in the company news section, and when asked about their future plans to enable this account in other countries, XM did not give any promising response to clarify that plan. Therefore, it is probably best to consider this update as just an XM's effort to test the water before actually giving trading service with zero spreads.

As much as unreachable this new account type is, we still can regard this as XM's initiative to start giving out more variable account choices, especially the ones that support unique trading condition like zero spread. This will be a quite significant progress since a broker wth only two account types that are differed only by contract size pales in comparison with other brokers providing a lot more choices for trading account.

 

XM is a cyprus-headquartered forex broker founded in 2009, and had been licensed by CySec as well as registered in more than 8 countries, including the United Kingdom, Germany, Spain, and Italy. Their extensive experience combined with support for well over 20 languages, makes XM the broker of choice for traders of all levels.