XM Deposit Bonus: policies and limitations
If you are someone who trades on the Forex market for a while now, you shall definitely know the XM Forex broker. For quite some time XM Forex broker has been undeniably one of the most reliable and trustworthy trading platforms out there. However, if you are a newbie, you should certainly consider taking a good look at it. In case you are in need of a trustworthy and professional brokerage, along with the special treats, XM Forex broker could be your top choice with its XM Deposit Bonus awaiting you.
With MetaTrader 4 and MetaTrader 5 platforms, the brokerage gives you a wide spectrum of ways to increase your trading profit. The firm is well aware of the fact that first-timers often feel overwhelmed to start trading without any prior experience, especially when the risk involves losing the invested money. Therefore, as a way of encouragement, they came up with the bonus system, which gives you additional funds available on your account. As reliability is vital for one to make a deposit with a broker, we have decided to highlight the main points of the XM Deposit Bonus to explain how you can benefit without feeling that your finances are endangered. Should you or should you not go for it? Find out in the Bonus Review below!
XM Deposit Bonus Description
As soon as you open the account with XM Forex broker on MetaTrader 4 or MetaTrader 5 platform, you are entitled to receive two-tier bonus on your initial deposit. The bonuses are applicable to any deposit starting from $5, however there are certain limiting conditions that have to be satisfied, which we will explain in more details below. Even though the bonuses are non-withdrawable, meaning that you cannot withdraw the bonus without trading with it at first, you will receive an instant credit on your initial deposit so that you do not waste any time and can go straight to entering the trading world. After you profit from the trading all the earnings belong to you.
The XM minimum deposit is $5, after which you are entitled to receiving the promised amount of 50% bonus. For example, depositing $100 would result in $50 addition to your trading account, which would leave you with the total of $150 to be available for trading. However, the awarded bonus cannot exceed $500 meaning that the maximum amount of the deposit that would generate you 50% bonus is $1000. Fortunately, XM Forex broker decided to be once again the most generous broker out there, granting its clients 20% bonus up to a maximum combined bonus amount of $5000, in case they exceed the upper limit of the 50% bonus eligibility. As simple as it sounds, it is also quite enthrilling to see your deposits increase by half, and then have another 20% added on top of that. The table below demonstrates how the bonus system works and sums up the math behind the XM broker bonus.
Any account holder can have his own bonus! No matter if you are a new customer or have been trading with XM for years. As you see from the table above, the biggest bang for your buck can be achieved with actually a $1,000 worth deposit.
How to claim the bonus
XM Forex broker makes the bonus system automatically available for everyone as soon as the account is opened at the platform. The bonus system is active for an unlimited period of time unless the maximum amount of $5000 of the total bonuses received is hit. In order to claim the XM forex deposit bonus, you should open the real account on XM Forex trading platform with a simple registration on their website. We will go through the registration process step by step and show you how to claim the XM bonus:
- On the home page of the website, click on open an account. Please keep in mind that opening a demo accout will not get you the bonus
- Enter the valid personal details including your first name and last name as they are indicated in your legal documents, your country of residence and phone number, language preference and an email address which you will be using for your XM account.
- Choose the appropriate entity based on your country of residence. Please note that XM Global does not work in European Union and if your country of residence belongs to the EU, you should instead choose XM CY – regulated by CySEC 120/10. Otherwise XM Global can be chosen as an Entity.
- Choose your trading platform type. Both MT4 and MT5 are leading softwares in the industry however with the difference in their purposes. MT4 is targeted on traders interested specifically in Forex, while MT5 is designed for CFDs and stocks traders. When choosing the account type, please bear in mind that Ultra Low and Shares trading accounts are not eligible for the bonus system. After choosing both Trading Platform Type and Account Type you can proceed to STEP 2 to receive the XM global bonus.
- Fill in your personal details with the correct date of birth. Insert your address details including the city / town, street number, residential address and postal code. Please note that the address should match the one provided in the legal documents. Choose whether you are a US citizen or not.
- Set up your trading account details. The leverage is chosen automatically by the system. Choose your preferred currency and indicate that you would like to receive the bonus. In the investor information, enter your initial planned investment size, the purpose and nature of transactions, your employment status and in case of employment the nature of the business that you are employed in. Choose your level of education and approximate income end net worth in USD.
- Indicating the trading knowledge and experience will make it easier for XM Forex broker to choose the most appropriate assistance for you. Select the professional experience (if any), the number of trades you have made and if you have traded at least 25 times on a demo account. Set up your password and you are ready to go!
- After your account is all set up, there are four easy steps to follow. First one would be checking for the confirmation message on your email address. As soon as you verify the email, you receive your ID which you can use for loging into the Members area with the password that you created during the registration process.
- Congratulations! The forex bonus is now available to be claimed. Scroll down to find the bonuses tab and click on deposit. Choose your payment method and you are done. You would need to upload proof of identity and proof of residency later.
In case of any questions regarding the registration process, claiming the bonus or verifying your identity you can contact the support directly from the webpage.
XM Bonus Limitations
One thing worth mentioning is that the bonuses are not available on the XM Ultra Low Account, as well as on the XM Shares Account. Therefore, when registering with XM Forex the person should remember that opening XM Ultra Low or XM Shares account would cause missing the chance to receive the bonus.
The bonus is not a limited one-time deal offer. The rules applicable to bonus system are a bit diffeernt than the regular ones. If a client with an XM bonus deposits funds worth of $250 four times, then $125 will be added each time to the account until it reaches the $1,000. However, the maximum bonus a person can receive is $5,000 after which bonus system will be cancelled and depositing the money will no longer generate the bonuses. Trading Bonus was not introduced with the sole purpose to maintain the clients and attract the newcomers, but it is indeed one of the most efficient and generous ways to help new and existing clients to hold their positions open for a longer period. XM Forex bonus is not eligible for clients registered under Trading Point of Financial Instruments Ltd and Trading Point of Financial Instruments UK Ltd.
XM trading bonus withdrawal policies
Even though getting a deposit bonus is easy with the XM broker, the withdrawal procedure is not that primitive. And is rather targeted to make traders leave the funds on their accounts.
Therefore, when you are trying to withdraw funds from your XM bonus account, the broker will charge you the amount of the bonus that will be proportional to the amount of the funds for withdrawal. Just to illustrate: imagine you deposited $1,000 and you were given $500 as a bonus (50%). Then you decided to withdraw $250 (25%) out of $1,000 available, as you still can’t withdraw the bonus. As a result, a total sum of $125 (25% of the bonus) will be removed.
But, for instance, if you have managed to generate some additional profit, then the picture will be a bit different. Imagine that you have deposited $1,000, received a $500 worth XM deposit bonus, and things turned out to be great for you and you gained a profit of $2,000 from trading. Now you have $3,000 available to withdraw and you want to take them all out of the account. In such case, $500 of the bonus will be removed just because that will equal 100%. Hopefully, the table below will help you to understand that better:
XM Loyalty Program
XM Forex broker is constantly coming up with innovative bonus programs that will ensure that traders will stay loyal and interested. Thus, augmented XM Points service was recently launched as an added bonus one may use while trading on the platform. You can subscribe and unsubscribe to that any time you want without any restrictions. It can be regarded as an XM welcome bonus into the XM family for your loyalty.
XMP has a status of reward for the loyal customer. Thus, as you trade, you received those bonus points that might be later transferred to the monetary bonus. That can be calculated in the following way: XMP/3=bonus
However, in order to receive XMP in the first place, you need to create an account and sign up for the loyalty program. There are several you may choose from XM Executive, XM Gold, XM Diamond, XM Elite.
If you are the part of the Executive Loyalty Program, then you will receive 10XMP per lot straight away. If you are the Gold Loyalty Program’s member, then you will receive 13XMP per lot after at least 30 days of trading. If you are a member of Diamond Loyalty Program, then you will be guaranteed to receive 16XMP per lots only after 60 days of trading on the platform. Finally, if you are the holder of Elite Loyalty Program, then you will be provided with 20XMP per lot after 100 days of trading with XM broker.
So, imagine you have 10,000XMP gained and you have decided to redeem 3,000XMP. Then, according to the formula provided above, you will receive $1,000 of bonus and will still have 7,000XMP on your account to convert and withdraw later.
However, there are some details worth mentioning when it comes to withdrawal of XMP from an account. For instance, you have 3,000XMP to redeem and you have gained an additional $1,500 while trading that you are allowed to withdraw. You have decided to withdraw only the part of it, $750, which is 50% of the total sum stored on the account. That means that the same 50% will be removed from your XMP bonus, which will equal $500 (3,000XMP / 3= $1,000). Take a look at the table below to understand the process better:
XM Broker account types
There are various account options available while registering with the XM broker. Thus, you can choose between Micro, Standard and XM Ultra Low one. They differ depending on the size of lots, as well as the minimum deposit rate and leverage, availability of the bonus.
- The Micro Account has a leverage of 1:1 to 1:888, the spreads can be as low as 1 pip, the minimum deposit can be $5, the minimum trade volume is 0.01 lots, and there is no commission charged. However, you won’t be able to obtain an XM deposit bonus on that account.
- The Standard Account has a leverage of 1:1 to 1:888, the spreads can be as low as 1 pip, the minimum trade volume is 0.01 lots, the minimum deposit is $5 as well. And you can obtain bonus using that account.
- The XM Ultra Low Account has a leverage of 1:1 to 1:888, the spreads can be as low as 0.6 pip, the minimum deposit should be at least $50, the minimum trade volume is 0.01 lots, and there is no commission charged. And you cannot get the bonus on that account as well.
Among the currencies available for trading there are:
- USD
- EUR
- GBP
- JPY
- CHF
- AUD
- HUF
- PLN
- RUB
Advantages
Even though we would strongly recommend you to open an account with XM in any case, there is one big benefit of the XM deposit bonus. It comes with a multi-account availability. When an XM bonus deposit is made on a particular account and later the deposit amount is transferred to another one, the bonus value will be transferred as well! The system calculates the share of the bonuses that should be transferred and makes sure you get an equal proportion on your another account. This is quite comfortable, as most of the brokers would simply remove your bonus if you try to move funds from one account to another.