{
  "schemaVersion": 1,
  "kind": "demoOffering",
  "id": "xm-unknown-bz",
  "urls": {
    "html": "/demo-accounts/xm-unknown-bz.html",
    "json": "/demo-accounts/xm-unknown-bz.json",
    "markdown": "/demo-accounts/xm-unknown-bz.md"
  },
  "policy": "Documentation research, not account or execution testing. Research regions do not establish residence eligibility. Requires Verification is an evidence gap, not proof of unavailability. Source conflicts and product/entity qualifications must remain attached to claims. Demo results do not establish live trading performance.",
  "record": {
    "checked": "2026-10-12",
    "tested": false,
    "funds": null,
    "currency": null,
    "fundsLabel": "Not recorded",
    "fundsNote": "Starting balance not established.",
    "expiryType": "unknown",
    "expiry": "Indexed official FAQ: closes after >60 days inactive; direct-page verification incomplete",
    "expiryNote": "",
    "evidence": "partial",
    "signup": "Account-types page links to registration",
    "note": "Demo existence confirmed. MT4/MT5 offered generally but demo-to-platform mapping needs confirmation; do not publish as verified MT4/5. FAQ search text readable, direct fetch blank.",
    "id": "xm-unknown-bz",
    "broker": "XM",
    "entity": "XM Global Limited (scope of account-types page)",
    "regions": [
      "BZ"
    ],
    "region": "BZ",
    "regionLabel": "Belize",
    "researchScope": "Belize",
    "platform": "unknown",
    "platformLabel": "Demo account — platform assignment unconfirmed",
    "terms": "Simulated environment; behavioral differences",
    "fundingReset": "New demo possible after closure; balance reset not verified",
    "deposit": "Advertised free practice before switching to real; specific KYC not verified",
    "devices": "Not stated",
    "forexCoverage": "Forex in general platform documentation; demo instrument list unverified",
    "eligibility": "Global account page excludes citizens of US, Canada, Israel, Iran and other sanctioned countries; demo-specific application of exclusions unconfirmed.",
    "evidenceNote": "Demo existence documented; platform and indexed expiry need confirmation.",
    "sources": [
      "xm-1",
      "xm-2",
      "xm-3"
    ],
    "visit": "xm-1",
    "regulation": {
      "status": "Verified",
      "entity": "XM Global Limited",
      "regulator": "Belize Financial Services Commission (FSC)",
      "finding": "Live LicenSys public search matches XM GLOBAL LIMITED, number 8557558, status Active. Categories: Trading in Securities as Principal; Arranging Transactions in Securities.",
      "scope": "Exact Belize entity only. Securities categories copied from register; do not infer universal forex distribution rights.",
      "sources": [
        "xm-reg-1"
      ]
    },
    "signupLink": {
      "kind": "portal",
      "note": "Register a profile, then choose a demo account.",
      "status": "Official entry route",
      "url": "https://www.xm.com/register/profile-account",
      "sourceUrl": "https://www.xm.com/account-types",
      "checked": "2026-10-13",
      "tested": false
    },
    "execution": {
      "scope": "XM Global Limited · Belize account-types page; current legal page links matching XM Global contract. Demo platform assignment remains unresolved.",
      "tested": false,
      "role": {
        "value": "Principal",
        "status": "Documented",
        "note": "Current-linked XM Global agreement sections 1.1 and 30.2 establish the entity and principal dealing; section 85.3(a) explicitly addresses foreign-currency contracts. No classification is extended to other XM entities.",
        "sources": [
          "ex-c-xm-contract"
        ],
        "checked": "2026-10-13"
      },
      "arrangement": {
        "value": "Market making with possible external offsets",
        "status": "Broker-reported",
        "note": "Sections 83.2(d) and 85.3(a) describe market making and possible back-to-back transactions with affiliates or third parties.",
        "sources": [
          "ex-c-xm-contract"
        ],
        "checked": "2026-10-13"
      },
      "demo": {
        "value": "Requires Verification",
        "status": "Requires Verification",
        "note": "Current account page confirms virtual demo but does not establish its platform-specific fill behavior; the previously indexed FAQ directly rendered blank. No live-execution statement was treated as a demo simulation rule.",
        "sources": [
          "ex-c-xm-demo",
          "ex-c-xm-faq-attempt"
        ],
        "checked": "2026-10-13"
      },
      "review": {
        "checked": "2026-10-13",
        "outcome": "Role: Principal; Arrangement: Market making with possible external offsets; Demo: Requires Verification. Official documentation review only; no account or order tests.",
        "remainingChecks": [
          "Confirm demo platform mapping and resident-to-entity assignment in the actual signup disclosures.",
          "Obtain directly readable current demo/live execution differences."
        ]
      }
    },
    "markets": {
      "scope": "XM Global Limited (scope of account-types page) · Belize · Demo account — platform assignment unconfirmed. Market coverage not yet reviewed.",
      "tested": false,
      "forexCfd": {
        "status": "Requires Verification",
        "note": "Forex CFD demo access has not been established for this entity and platform.",
        "sources": [],
        "checked": null
      },
      "cryptoCfd": {
        "status": "Requires Verification",
        "note": "Cryptocurrency CFD demo access has not been established for this entity and platform.",
        "sources": [],
        "checked": null
      }
    },
    "api": {
      "status": "Requires Verification",
      "type": null,
      "route": "Not established for this offering",
      "note": "API access has not yet been established for this legal entity and demo platform. This does not mean it is unavailable.",
      "requirements": "Confirm the account, platform and regional requirements with the broker.",
      "sources": [],
      "docs": [],
      "checked": null,
      "tested": false
    }
  },
  "sources": {
    "ex-c-xm-contract": {
      "title": "XM Global Client Agreement — current legal-page link",
      "url": "https://cloud.xm-cdn.com/static/pdf/System-PDFs/XMGlobal-Client-Agreement-Terms-and-Conditions-of-Business.pdf?v=8b45d4ddbf3bc2bbbdf7e9fec7dbb927",
      "owner": "Broker",
      "checked": "2026-10-13",
      "locator": "Sections 1.1, 30.2, 83.2(d), 85.3(a); current legal-documents link establishes XM Global mapping",
      "access": "Opened via current https://www.xm.com/legal-documents Terms and Conditions link; 85-page PDF explicitly names XM Global Limited."
    },
    "ex-c-xm-demo": {
      "title": "XM account types and demo scope",
      "url": "https://www.xm.com/account-types",
      "owner": "Broker",
      "checked": "2026-10-13",
      "locator": "Free demo description; platform assignment not established",
      "access": "Official page/PDF opened and read; no account opened or trading tested."
    },
    "ex-c-xm-faq-attempt": {
      "title": "XM trading-account FAQ attempt",
      "url": "https://www.xm.com/help-center/trading-accounts/are-all-instruments-swap-free-for-ultra-low-account-holders",
      "owner": "Broker",
      "checked": "2026-10-13",
      "locator": "Previously indexed trading-account FAQ",
      "access": "Direct page opened as one-line public/blank content; no current detailed demo realism text available."
    },
    "xm-1": {
      "id": "B-XM-01",
      "title": "XM account types",
      "url": "https://www.xm.com/account-types",
      "claims": "Confirms free demo with virtual funds; XM Global Limited, FSC 8557558; regional exclusions. Fully opened.",
      "checked_date": "2026-10-12",
      "verification": "Official documentation; no account opened or functional test"
    },
    "xm-2": {
      "id": "B-XM-02",
      "title": "XM trading account FAQs",
      "url": "https://www.xm.com/help-center/trading-accounts/are-all-instruments-swap-free-for-ultra-low-account-holders",
      "claims": "Official search-index text: >60-day demo inactivity closure; up to five demos; simulation caveat. Direct open blank: provisional secondary retrieval of official text.",
      "checked_date": "2026-10-12",
      "verification": "Official documentation; no account opened or functional test"
    },
    "xm-3": {
      "id": "B-XM-03",
      "title": "XM MT5 platform",
      "url": "https://www.xm.com/mt5",
      "claims": "General MT5 availability only; no explicit demo-to-platform mapping in opened text.",
      "checked_date": "2026-10-12",
      "verification": "Official documentation; no account opened or functional test"
    },
    "xm-reg-1": {
      "title": "Belize FSC LicenSys — XM public register result",
      "url": "https://licensys.belizefsc.org.bz/#/publicSearch?__meta__formId=6928049e24c807681185b908&Page=1&PageSize=10&SortBy=RegistrationObjectInfo.InitialRegistrationDate%20desc&IsCurrent=true&RegistrationObjectInfo.RegistrationObjectNumber=&RegistrationObjectInfo.RegistrationObjectStatusId=&LicenseeInfo.GeneralLicenseeName=XM&AppoInfo.Appo.NameUnited=",
      "evidence": "One result: XM GLOBAL LIMITED; 8557558; Active; principal trading and arranging securities; domains www.xm.com/www.xmglobal.com.",
      "source_date": "UI registration timestamp displayed 31/12/2024 07:00 PM; time zone not stated. Live checked 2026-10-12.",
      "access_note": "Direct official interactive browser search succeeded. Text-only browser returned empty JS page; old website route returned 403."
    }
  }
}