The basic features and offers of Xm.com were described in our broker review. We will only look at the deposit and withdrawal options.
Millions of traders around the world use XM for their foreign exchange trading needs. Many traders are investing a lot of money funded forex account in foreign exchange. They want to find out the deposit and withdrawal methods. The trader’s country of residence is one of the factors affecting the deposit or withdrawal method. Since the fees will be less, some payment/withdrawal methods are popular in each country. The currencies for the deposit and withdrawal methods are not specified.
XM Deposit and Withdrawal Methods
Online deposit and withdrawal methods are available for traders. Credit card, Debit card, Skrill, UnionPay, Bank Wire are some of the deposit and withdrawal methods. There are three withdrawal options for partners.
XM offers payment options for traders, such as:
Diners Club International
The minimum deposit is $5 for MICRO and STANDARD, $50 for ULTRA LOW, and $10 000 for SHARES accounts. The minimum deposit and minimum withdrawal are related to the order type. The minimum deposit is based on account types and is one of the most used payment methods.
How to deposit money on XM Broker?
If you want to deposit into your account, please do the following.
You need to log in to your account. Credit card, Bank Wire, or wallet are some of the deposit methods that can be used. The deposit amount can be typed in. The account number and deposit amount is important. Pay.
XM deposit methods
How to make a deposit? There are a number of deposit options.
Paypal is not accepted as a deposit and withdrawal option.
XM Credit/debit card
Credit and debit cards can be used to deposit. The minimum deposit amount is $5 and the amount is credited to the user’s account immediately. Fees are not charged for using this method. The deposit method is preferred by most people. The amount deposited is limited because most credit and debit cards have limits.
In dollars and euros, the company offers the Mastercard. XM Mastercard can be used at ATMs, stores, and online. You can use your credit card as a deposit and withdrawal option in less than a week.
Fees and a minimum deposit are not included in the electronic payment methods. Some payment methods are electronic. The amount is credited to the foreign exchange account immediately, while the deposit will be processed within 24 hours. Cash only accepts US dollars and Przelewy 24 only accepts PLN deposits, so the amount is instantly credited to the foreign account. It may take up to one hour for the payment to get processed for deposits in only three currencies, including the US dollar.
Deposits are only accepted in the two currencies. The minimum amount is $5 and there are no fees. At least two hundredUSD or equivalent will have to be deposited in the account at a time. The fees are determined by the bank. Within two to five business days, the deposited amount will be credited to the foreign exchange account.
XM withdrawal Review
If a user wants to withdraw money from his account, they will need to provide Know Your Customer documents. These documents are required by regulatory bodies in different countries. There is an online and offline form where the customer’s personal information must be provided. This information will help them provide better service.
There are less withdrawal methods than deposits. Unless specified, the user will have to withdraw at least five dollars at a time. If the customer has completed the KYC requirements, the withdrawal request can be processed in 24 hours. The identity proof and address proof of the trader can be found in these documents. After three to five business days, the amount will be credited to the bank account.
XM Credit cards and electronic payment
Visa, Visa electron credit and debit cards can be used to withdraw funds. Another option is Unionpay. Electronic payment methods are used for fund withdrawal. The funds can only be withdrawn in US Dollars, Euro, and Japanese renminbi. Credit/debit card withdrawals are usually the first priority, followed by Bitcoin and Neteller/Skrill.
XM Bank wire transfer
Money can be transferred via bank wire.
Log in to the “Members Area”
Select the deposit method called Bank Wire from the list.
The bank account details will appear.
Many foreign exchange traders prefer to make bank wire transfers to withdraw their funds from their accounts.
Two hundred dollars is the smallest amount that can be taken from a bank account. The bank the trader chooses will affect the fees. The amount is usually credited to the bank account within two to five business days after the request is made. The bank withdrawal requests may take a bit more time. In the last 8 years, I had the longest period of bank wire transfer withdrawal.
All deposit and majority withdrawal methods have no XM fees. Each bank has its own wire transfer withdrawal fees. The fee for wire transfer withdrawal is usually between 20 and 30 dollars.
XM deposit request failed.
When the depositing transaction can’t be realized, theXM.com error occurs. If you have enough money in your deposit option balance, you can solve the problem. Call live support if there are still errors.
The mistake occurs when you pay with a credit or debit card. If you have a card, set a few dollars less than the balance.
XM Fund safety
All measures are taken to prevent unauthorized access to their information systems. All of the funds of their clients are kept in the most reputed banks. Negative balance protection is offered by the company. The risk management system implemented by XM will ensure that the trader’s loss will be limited.
Forex trading without any deposit
Many people are interested in trading foreign exchange, but can’t afford it. It’s still possible to get some experience without a deposit.
XM No deposit bonus
Those who create a new account with XM will get a $30 bonus. The new trader can take the risk of trading without putting his money at risk. The amount is credited to the trader’s live account.
XM Demo account
New traders can create a virtual account and use it to trade in the foreign exchange market. The trader will be given $50,000 in virtual money for each account he creates, which he can use to trade, and test strategies. A trader can use any number of demo accounts. If the account is inactive for a long time, it will be deleted.