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XM Offers 3 Base Currencies
For global users, XM allows you to choose from three base currencies for your account:
- United States Dollar (USD)
- Euro (EUR)
- Japanese Yen (JPY)
You can choose the one that suits you best.
For instructions on how to open or add an account, please refer to the following article.
Why USD is Highly Recommended for Global Users
Unless you reside in Japan or Europe, we strongly recommend choosing the US Dollar (USD).
Here are the clear advantages of selecting USD as your base currency.
1. Crypto Compatibility and Avoiding Exchange Fees
This is the biggest practical reason to choose USD.
Since XM does not offer many local currencies, many global traders use cryptocurrencies like Tether (USDT) for deposits and withdrawals.
Because USDT is pegged to the US Dollar, managing your funds in a USD account is much more intuitive.
If you deposit USDT into a EUR or JPY account, XM will automatically convert the funds using its proprietary exchange rate.
This means you will incur an invisible exchange fee (conversion cost) of a few percent just by depositing.
By keeping your base currency in USD, you can completely avoid these wasteful conversion costs when using USDT or USD bank accounts.
2. Global Standard for Easy Management
The US Dollar is the key currency of the world and is the most versatile.
Even if you need to calculate profits for tax returns in your local currency, using USD as a standardized base makes the accounting process relatively straightforward compared to using minor fiat currencies.
Psychological Benefits of USD and EUR
As of February 2026, the exchange rate is roughly 156 JPY to 1 USD.
Comparing USD or EUR to currencies with large denominations like JPY, there is a psychological merit: the digits displayed on your account balance are smaller.
I believe this helps many people view their positions and charts more calmly.
Rather than seeing a floating profit/loss displayed as '20,000' (in JPY), seeing it as '$130' feels simpler and allows you to look at it more objectively, almost like it's someone else's money.
- "I get too emotional when I see large numbers."
- "I want to build a mentality focused on winning trades first!"
For such traders, using a USD or EUR account is highly effective for mental control.
[Note] Can the Base Currency be Changed Later?
Once an XM account is opened, you cannot change its base currency later.
If you initially created a EUR account but want to change it to USD,
you must open a new 'Additional Account' in USD from your XM My Page and transfer your funds internally.
XM allows you to hold up to 8 additional accounts, so this is not a major issue.
However, setting it to USD from the beginning will save you the most time and effort.
