The XM standard account requires a minimum deposit of $5. Other account types, such as the Standard, Zero and Shares accounts require a higher deposit. This can range from as little as $100 to $10,000. There are three different kinds of bonuses that can be earned by using XM, although the size of the prize depends on the account type and the regulatory jurisdiction in which you are trading.
For a quick and convenient way to fund your XM account, you can use a debit or credit card. You"ll want to double check that your card information is accurate before proceeding. If you don"t, you might end up paying an exorbitant fee. Additionally, you should never press your browser"s back button while a payment is being processed.
Unlike many brokers, XM does not charge a fee for credit card deposits. In fact, you can even receive a signup bonus for signing up. A bonus can be a nice way to boost your first deposit. Also, you can receive up to $50 in free withdrawals. But before you make your first withdrawal, you"ll need to verify that your banking institution has a free service for withdrawing money.
XM also offers a demo account, which is a good way for beginners to learn about the nuances of trading. Traders can also take advantage of a range of educational resources and free daily market analyses. It"s also worthwhile to know that XM has a mobile app.
For more experienced traders, the Standard Account may be the ideal choice. It features everything a trader needs in an account. That includes leverage of up to 1:30, a slew of features, and a variety of bonuses. While the standard account"s $5 deposit is on the low side, it still offers a lot. Some of the most popular currencies traded in XM include USD, EUR, AUD, CAD, JPY, CHF and PLN.
For a limited time, XM will also offer a free VPS service, which helps you connect and work faster. However, this benefit is only applicable to clients who have a minimum balance of $5,000.
Although the minimum deposit requirement is not too high, you can expect the process to take some time. Depending on how quickly your bank or credit card company is able to process the transfer, you might have to wait a day or more. Alternatively, you can opt to use the XM Client Portal to deposit cash.
With a wide range of accounts and bonuses, XM can be a great place to begin your Forex career. However, you"ll need to consider the minimum deposit required for your country.
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