XM Deposit and Withdrawal In Detail | $0 Fees

Pros

Cons

  • No deposit fees
  • No withdrawal fees oftenly
  • Various account currencies

Withdrawal fees on bank transfers for less than $200

Introduction

XM broker has been a leading forex and CFD broker since 2009. It has over 3.5 million active users with more than 2.4 billion trades executed through it. It has been awarded with several awards since its foundation and regulated by financial authority like IFSC.

Account Currencies

The XM account has 11 base currencies which are EUR, USD, GBP, CHF, JPY, AUD, RUB, PLN, HUF, ZAR, and SGD.

Notes:

  • You will not be charged with conversion fees if your account has the same currency with your bank account or when you trade assets with the same currency of your account.
  • If you want to avoid being charged with conversion fees, you can open a multi-currency bank account at a digital bank.

Deposit

XM does provide a variety of options for depositing money like:

XM supports depositing using different methods like:

  • Credit/ Debit cards
  • Electronic wallets
  • Bank transfers

XM deposit methods

 

XM

Credit cards

Yes

Bank Transfers

Yes

Electronic wallet

Yes

 

Fees

XM does not charge any deposit fees from its clients.

Time

It takes about 2 business days to deposit to your XM account using bank transfers and it happens instantly for credit/ debit cards.

Note: the minimum deposit is applied according to your account type. Please go to the account opening section for more information.

Withdrawal

XM does provide a variety of options for depositing money, some of them have fees.

XM supports withdrawal using different methods like:

  • Credit/ Debit cards
  • Electronic wallets
  • Bank transfers

XM withdrawal methods and fees

 

XM

Bank Transfers

Yes

Credit cards

Yes

Electronic wallet

Yes

Fee

$0

 

Fees

XM does not charge any withdrawal fees from its clients. For withdrawals using bank transfers, XM will cover all the fees if the withdrawal amount is greater than or equal to $200.

Time

It takes about 2 business days to withdraw your money from XM broker.

Note:

For security reasons, you may have to verify your identity with the payment department for the first time through the registered email or the phone number.

FAQs

  1. How long does it take to open an account?
  • It takes about 5 minutes only to open your XM account.
  1. Does XM allow bot trading?
  • Yes, you can. All our trading platforms support the use of EAs.
  1. Does XM give a bonus?
  • Yes, and you can apply to the XM bonus program.
  1. Does XM allow scalping and hedging?
  • Yes, XM does allow scalping.
  1. Where is my money held?
  • It’s held in segregate accounts in order to avoid financial disasters.

 

  1. Is my credit card information safe with XM?
  • Yes, XM uses a safe technology to make all your information safe.
  1. When trading forex, will you lose more than your initial deposit?
  • Both our MetaTrader 4 and XM platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
  • Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balance amount in your account above your required margin.
  1. When will my demo account expire?
  • At XM, demo accounts have no expiry date. So, you can trade virtually as long as you want.


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