XM Minimum Deposit Review

 

XM Minimum Deposit amount required to register an XM live trading account ranges from USD 5 – USD 10’000. XM makes three live trading accounts available, the Micro Account, Standard Account, XM Ultra Low, and Shares Account.

 

 

 

Minimum Deposit – Key Point Quick Overview

 

• ☑️ Overview
• ☑️ Regulation and Safety of Funds
• ☑️ Deposit Fees and Options
• ☑️ Deposit Bonuses and Promotions
• ☑️ Pros and Cons

 

Overview

XM charges a minimum deposit amount of 5 USD.

After thoroughly exploring XM’s platform, we can assert with certainty that the modest minimum deposit of 5 USD is a significant benefit. This is a refreshing option for traders who are just starting or prefer to enter online trading without making a big financial commitment.

If you are interested in forex, commodities, or indices, meeting this minimal requirement can provide you with opportunities that might have seemed unattainable. XM recognizes the importance of providing customers with a diverse selection of payment methods to choose from.

From credit/debit cards to e-wallets and bank transfers, you can choose from a range of options. If you’re new to the platform, their $30 no-deposit bonus is an excellent opportunity to familiarize yourself. Engaging in trading and potentially generating profits without using your capital is possible.

However, we found that the bonus itself cannot be withdrawn. However, you can keep all the profits once you have fulfilled the trading volume requirements.

Overall, XM impresses retail traders with their commitment to transparency regarding fees. Rest assured, there are no unpleasant surprises, letting you focus on your trading activities.

 

 

Regulation and Safety of Funds

 

 

Protection of Client Funds

 

 

 

Deposit Fees and Options

XM has a fee-free policy regarding deposits made in an account, allowing traders to fund accounts without worrying about additional non-trading expenses.

Below, we provide vital information on XM’s deposit methods and give a step-by-step process on how each payment category can be used.

 

 

How to Make a Deposit with XM

 

Bank Wire Transfer:

 

Navigate to your XM account’s ‘Deposit’ section and choose ‘Bank Wire Transfer.’

 

• Select your selected currency and enter the deposit amount.
• XM will give you their bank information, which includes the bank name, account number, and SWIFT code.
• Make a wire transfer from your bank to the given XM bank account.

 

Bank wire transactions typically take between one and five business days to complete.

 

Credit or Debit Card:

 

Log onto your XM account and go to the ‘Deposit’ area.

 

• Choose ‘Credit/Debit Card’ as the desired method.
• Select your selected currency and input the deposit amount.
• Enter your card information, including the card number, expiry date, and CVV.

 

Confirm the transaction and wait for it to be processed, which usually happens instantly.

 

Cryptocurrency:

 

• While XM does not accept cryptocurrency deposits directly, you can use a third-party cryptocurrency exchange to convert your crypto into a fiat currency that XM accepts.
• Once converted, you can deposit the fiat money into your XM account via credit/debit card, an e-wallet, or bank wire transfer.

 

e-Wallets or Payment Gateways:

 

Log onto your XM account and navigate to the ‘Deposit’ area.

 

• Choose your favorite e-wallet or payment gateway from the list (e.g., Skrill, Neteller, WebMoney).
• Select your preferred currency and indicate the deposit amount.
• You will be routed to the chosen platform to complete the transaction.
• Follow the steps to approve the deposit.

 

Users usually complete e-wallet deposits promptly.

 

 

Deposit Bonuses and Promotions

XM’s deposit bonus program is a significant highlight for traders embarking on their journey. They provide a two-tiered strategy, starting with a full 100% match on your deposit up to $500 and then a generous 20% match up to an impressive $10,000.

Based on our expertise, this bonus substantially increases trading capital from the beginning, which can be accessed immediately on both the MT4 and MT5 platforms.

One important lesson we’ve discovered is that although the bonus cannot be withdrawn, any profits generated from it can be, presenting a genuine chance to enhance your trading capabilities.

We have to mention that any withdrawals will decrease the bonus amount accordingly, so it is crucial to incorporate this into your overall strategy.

Traders must also consider their account type when considering this generous offer. While most clients who fund their accounts are eligible, those with Ultra Low Micro or Ultra Low Standard accounts are not included.

In addition, XM offers new clients a $30 no-deposit bonus once they have completed their account verification.

Although it cannot be withdrawn, this bonus allows you to explore XM’s wide variety of trading instruments, including forex, CFDs, and precious metals. It also allows you to generate profits that can be withdrawn without taking risks.

We urge traders to remember that this no-deposit bonus is subject to specific terms and conditions. It is crucial to make a minimum deposit of $100 within 30 days to prevent losing it.

 

 

Pros and Cons