XM ZERO account is not eligible for bonuses. It would be better to open a new account other than XM Zero account
XM Zero Account is the Spread minimizing Account, but when opening new account, you will gain profit if you open one other than"XM Zero Account" as it is not eligible for bonuses.
At XM’s Forex brokers, bonus programs are frequently applied.
In addition, it would be better to open an account that are eligible for bonus such as STANDARD or MICRO accounts. , because these accounts will receive XMP bonus, periodical bonus,…
Compared to XM Zero account
| Micro Account | Standard Account | Zero Account | |
|---|---|---|---|
| Base currency | USD, EUR, JPY | USD, EUR, JPY | USD, EUR, JPY |
| Maximum leverage | 888:1 | 888:1 | 888:1 |
| Lot unit | 1,000 currency units | 1,000 currency units | 100,000 currency units |
| Maximum trading volume | 100 lots | 50 lots | 50 lots |
| Minimum trading volume | 0.01 lots (MT4) 0.01 lots (MT5) | 0.01 lots | 0.01 lots |
| Maximum number of open/pending orders per client | 200 orders | 200 orders | 200 orders |
| Minimum deposit | 5$ | 5$ | $100 |
| Transaction fees | Free | Free | $5 per transaction per trading lot |
| Deposit/Withdrawal fees | Free | Free | Free |
| Maintenance fees | Free | Free | Free |
| Opening multiple accounts | Possible | Possible | Possible |
| Spread for major currency pairs | 1 pip ~ varied | 1 pip ~ varied | 0 pip ~ varied |
| Average spread | 1.7 pips | 1.7 pips | 0.1 pips |
| Execution method | STP | STP | ECN |
| Reverse order | Possible | Possible | Possible |
| Scalping | Possible | Possible | Possible |
| Trading tools | MT4/MT5 | MT4/MT5 | MT4/MT5 |
| Forex currency pairs | 57 currency units | 57 currency units | 56 currency units |
| CFD trading | 33 denominators | 33 denominators | N/A |
| CFD trading | 4 denominators | 4 denominators | 2 denominators |
| Loss Cut | Below 20% | Below 20% | Below 20% |
| Margin Call | 50% | 50% | 50% |
| Additional deposit | No | No | No |
| Fund protection | ◯ | ◯ | ◯ |
| Automatic trading | Possible | Possible | Possible |
| Free VPS | Support | Support | Support |
| Bonus | Accepted | Accepted | Not accepted |
XM Zero Account, though not categorized as bonus account, is suitable for traders who want to trade Scalping because of its very narrow spread.
To open a new account, it is probably better to open with a STANDARD account or MICRO account and then open “MICRO" account when opening additional accounts.