What is the minimum deposit for XM? (2024)

What is the minimum deposit for XM?

XM Pros and Cons

Does XM charge for deposit?

XM covers all deposit and withdrawal transfer fees for payments made via Neteller, Moneybookers and all major credit cards (including VISA, VISA Electron, MasterCard, Maestro and China UnionPay).

How much does it cost to start trading with XM?

XM offers three types of trading accounts: Micro, Standard, and XM Zero. The Micro account is ideal for beginners as it requires a low minimum deposit of $5 and offers micro-lot trading. The Standard account is suitable for experienced traders and requires a minimum deposit of $5.

Does XM give $30 dollars?

XM offers a 30 USD no deposit bonus requiring only account sign-up and verification from the trader's side. This XM bonus 30 USD is equivalent to 25 EUR, 20 GBP, 3000 JPY, 30 AUD, 100 PLN, and 25 CHF.

Which XM account is good for beginners?

XM Micro Accounts are a type of forex trading account offered by the forex broker XM. These accounts are specifically designed for beginners and traders with limited capital, allowing them to trade with smaller amounts of money and lower risk than with standard forex accounts.

Does XM charge for withdrawal?

XM charges $0 for basic withdrawals, but some methods may cost more.

Is XM a reliable broker?

XM Broker has a generally positive reputation in the online trading industry and is considered reliable by many traders. The broker has been operating for several years and is regulated by reputable financial authorities, which adds a level of credibility to its operations.

What is the minimum withdrawal on XM?

The minimum deposit or withdrawal amount for any account type is $5.

Which XM account is best?

Best XM account type for beginners and strategy testers

XM offers Micro accounts for traders that have small capital to invest, or wish to test their trading strategies in live trading environments. Contract size on this account is 100 times smaller than on Standard and Ultra Low accounts. 1 lot equals 1,000 units.

Is XM broker good for scalping?

Xm.com - Best for Malaysian Scalpers

The broker offers very low spreads, fast order execution, and a wide range of currency pairs to trade. Xm.com is also very popular among Malaysian traders. As a leading online broker, XM offers its clients a full suite of trading platforms and instruments.

Does XM have monthly fees?

XM Minimum Deposit Policy

Additionally, XM does not charge any fees for deposits, making it convenient for traders to fund their accounts. However, it is important to note that XM may charge a dormant account fee of $5 per month if there is no activity on your account for 90 days or more.

How do you get a 30$ no deposit bonus in XM?

To claim the Bonus you need to follow a few simple steps:
  1. Open a Real Account.
  2. Log in to the Members Area using the credentials sent to you by email.
  3. Provide the relevant identification documents to verify your account (if you have not already done so)
  4. Click the button to Claim your Bonus.

How do I put money on XM?

We support a wide array of payment methods including credit and debit cards, bank transfers, e-wallets, and many more. Once you open your XM account, simply visit the 'Deposit' or 'Withdrawal' sections in the Members Area to see all the payment methods available.

What broker is better than XM?

Is Pepperstone better than XM Group? In our analysis of 23 international regulators across 62 of the best forex brokers, Pepperstone is considered Highly Trusted, with an overall Trust Score of 95 out of 99. XM Group is considered low-risk, with an overall Trust Score of 88 out of 99.

What documents do I need for XM account?

Documents Required for XM Verification

These documents include: Proof of Identity: This can be a government-issued ID card, passport, or driver's license. Proof of Residence: This can be a utility bill, bank statement, or any official document that shows your name and address.

Can I have 2 XM accounts?

Yes, using the same personal information, you can have up to 8 active trading accounts open simultaneously. To register for an additional account, log in to the Members Area.

What is the dormant fee for XM?

Dormant accounts are charged with a monthly dormant fee of USD 5 or the full amount of the free balance in the account, in the case that the free balance is less than USD 5. There will be no charge in case the free balance in your account is zero (0).

Does XM give credit?

Rewards. As you trade, you will earn XMP which can be redeemed at any time for credit bonus rewards in the Members Area. In the Members Area you can also monitor your balance of XMP at any time, including the equivalent value of your XMP as credit bonus.

Does XM charge overnight?

Overnight fees: If you hold a position overnight, XM Trading will charge a fee known as an overnight swap or rollover fee. This fee is based on the interest rates of the currencies involved in the trade and can be either positive or negative, depending on the direction of your trade.

How many people use XM broker?

XM offers a variety of trading instruments, including forex, stocks, commodities, and cryptocurrencies. They have a global presence and cater to clients from over 196 countries. With over 3.5 million clients worldwide, XM has become a trusted and reliable broker in the financial market.

Who owns XM trading?

XM is a brand name of Trading Point Holdings Ltd, which owns Trading Point of Financial Instruments Pty Limited (XM Australia), XM Global Limited (XM Global) and Trading Point of Financial Instruments Ltd (XM Cyprus).

How much does XM broker charge?

Low FX fees
BrokerEURUSD spreadFX commission per lot
XM0.1$3.50 commission per lot per trade on XM Zero accounts
FxPro1.4No commission is charged
Admirals (Admiral Markets)0.1$3.00 commission per lot per trade

Which leverage is good for beginners?

As a beginner trader, it is crucial to start with low leverage. This will help you to limit your losses and learn how to manage your risk effectively. A good rule of thumb is to start with leverage of 1:10 or lower. This means that for every $1,000 in your trading account, you can control a position worth $10,000.

How long does XM deposit take?

XM accepts the funds through bank transfer including from ATM or through net-banking. When you deposit funds through bank transfer, they should be reflected in your account within 5 working days after the transfer.

What is the difference between XM account types?

Mini accounts are 10% the value of standard accounts, which means that they are 10,000 unit contracts, while standard accounts are 100,000 unit contracts. For instance, 1 trade of 1 EUR/USD mini lot is a USD 10,000 trade, while a standard lot is USD 100,000, or more.


Popular posts
Latest Posts
Article information

Author: Nicola Considine CPA

Last Updated: 07/05/2024

Views: 5828

Rating: 4.9 / 5 (69 voted)

Reviews: 92% of readers found this page helpful

Author information

Name: Nicola Considine CPA

Birthday: 1993-02-26

Address: 3809 Clinton Inlet, East Aleisha, UT 46318-2392

Phone: +2681424145499

Job: Government Technician

Hobby: Calligraphy, Lego building, Worldbuilding, Shooting, Bird watching, Shopping, Cooking

Introduction: My name is Nicola Considine CPA, I am a determined, witty, powerful, brainy, open, smiling, proud person who loves writing and wants to share my knowledge and understanding with you.