All You Need to Know About the XM Bonus
XM is a well known forex & CFD online broker. They’ve also won many awards for their trading services, plus they’re regulated by ASIC, CySEC and the IFSC.
However another key feature of the broker that we’d like to mention is the XM trading bonus.
But how much is this bonus and how can you claim it?
To find the answers, keep reading to learn all you need to know about the XM trading bonus process.
Let’s get started!
How Much is the XM Trading Bonus?
The XM Trading Bonus is worth 30 USD, and it’s available to new traders who have recently opened an account.
Best of all there’s no deposit required. You can get the bonus just by opening an XM account.
You’ll only need to deposit funds to your account when you’re ready to start live trading.
Once you’ve finished the account opening steps, the $30 will be credited automatically to your trading account.
The money should normally be showing within 30 minutes, but sometimes it can take up to 24 hours max.
XM Trading Bonus Key Points:
- No deposit is required
- The $30 bonus is credited directly to your account
- Only available to NEW users “It is not available for clients registered under the EU
regulated entity of the Group (ESMA regulations)”.
XM Bonus Terms and Conditions
You should know that the $30 XM bonus is not available for withdrawals.
This is to prevent people from opening an account and withdrawing the money without making any trades.
Instead the $30 is to be put towards forex & CFD trades. However, the good thing is that you can keep any profits made from those orders.
That’s why we’d recommend that you take your time and not rush to make trades. That way you’re more likely to place worthwhile trades that could make a profit.
By making a profit from your trades, you’ll make the most out of the XM deposit bonus.
We should also mention that although it’s rare, the broker can withdraw their promotion offer at anytime if they think it’s being misused.
XM Forex Account Types
As you know, you’ll need to open an XM account in order to claim the bonus. But you’ll need to select which trading account type you want to have.
Currently XM has 3 trading accounts available:
- Micro Account – minimum deposit $5
- Standard Account – minimum deposit $5
- XM Zero Account – minimum deposit $100
For new traders, the most popular accounts are the Micro and Standard Accounts as they have an incredibly low minimum deposit of just $5! They 2 account also offer commission free trading & competitive forex spreads from 1 pip.
The main difference between the Micro & Standard Accounts is the lot size. For example, the contract lot size for the Micro Account is 1,000 for 1 lot, and the Standard Account contract size is 100,000 for 1 lot.
The XM Zero Account is aimed at more experienced traders, and comes with a higher minimum deposit of $100.
It offers extremely low spreads on all major forex pairs starting from 0 pips, but a commission is charged on trades.
However, all accounts offer access to the XM MT4 & MT5 trading platforms, so you just need to consider which one suits your needs the best.
How to Claim the XM Bonus
To claim the XM bonus you’ll need to sign up for one of XM’s 3 trading accounts.
The sign up process takes about 10 minutes and can be done completely online.
As part of the sign up process you’ll need to provide some personal info such as name, address and contact details. The broker will also ask you questions on your previous trading experience and financial situation.
XM will also need to verify your identity. This must be done so that the broker can meet regulation requirements on security.
Make sure that you have the following 2 documents to hand:
- 1 Proof of Address: a document showing your latest address- a utility bill/ bank statement
- 1 Proof of Identity: a photographic ID- so driving licence, passport or Government ID
The identity documents can be photographed with a smartphone or scanned then uploaded directly to the broker. Just follow the steps as shown on the screen.
After this the account set up steps are finished!
If you need assistance at anytime the XM customer support team is available 25/7 to help.
When your account is ready to open, the $30 bonus money should be showing in your account within 24 hours.
Author of this article and founder of Tradingonlineguide.com
My aim is to help you increase your trading knowledge with helpful content. I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.
In my spare time I enjoy cooking and travelling.
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