Trading with a top forex broker like XM is a forward step in the trading career of anyone looking to break into the sector.
Our XM review details exactly what is on offer with this broker providing extensive access to a wide range of markets.
Here we will take a closer look at the financial side of things.
The XM minimum deposit to be exact.
This is something which can certainly influence how you trade so it is well worth noting.
We will look at the minimum deposit for XM by funding method and account type to make sure that we cover all traders.
Table of contents
XM Minimum Deposits
The minimum deposit you will find with XM is $5. This is true on both Standard and Micro accounts, which are the most common among all broker’s entities. Depending on your regulation area you may access different account types and minimum deposits which can be way higher than the minimum deposit we’ve just talked about.
|XM Minimum Deposit||Features|
|Base Currencies||EUR, USD, GBP, AUD, CHF|
The XM Standard Account is available under every jurisdiction and with a very good value $5 being the minimum deposit here, it is easy to see why many choose to trade with it. You may also want to check how XM scores in our best low no minimum deposit brokers selection.
Islamic accounts are also available if you should require them and are easily known as the best in the industry.
Again, the XM minimum deposit on their micro accounts is suitably small at just $5. These accounts facilitate trading in micro lots at excellent rates and are available to all traders in every regulatory area. Islamic traders are also catered for.
XM Zero Account
An XM Zero Account is also available. This account type is available under CySEC and most of the countries regulated under the XM Global Market regulatory framework. The spreads offered by one of the top zero spread accounts here is unbeatable starting at 0 pips although commissions are charged on trading.
The XM minimum deposit for trading on these accounts is still just $100.This represents good value since you can also have access to your own VPS. You can also check here, the best free VPS forex brokers and how to choose the right one for you.
Ultra Low Account
This XM Low spread account type is available to traders based in Australia and within the XM Global Market regulatory framework. This account comes with extra low forex spreads and no commission to worry about.
The minimum deposit on this account type is $50.
Finally, the XM Shares Account which focuses on shares trading is available only within the XM global market regulatory area and with a $10,000 minimum deposit.
XM Minimum Deposit Overview
|XM Accounts*||Minimum Deposit||Min. Spread||Commission per lot|
|XM Standard||$5||1 pip||No|
|XM Micro||$5||1 pip||No|
|XM Zero||$100||0 pips||$7/lot|
|XM Ultra Low||$50||0,6 pips||No|
* The following account types may not be available and/or offered by all XM entities
XM Minimum Deposit Comparison with other Major Brokers
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money
|Number of dep. methods||6||10||9|
|Account currencies||USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR||USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, CAD||EUR, USD, JPY|
XM Account Base Currency
As with most top brokers, XM accounts are available with many several base currencies. The XM base currency is the one that you trade with and effectively depends upon which account and regulatory type you fall under.
If you have an XM Standard or Micro account, you can look forward to choosing every major currency as your XM base currency. Also included are PLN and HUF as other options as well as ZAR and SGD.
Russian RUB is available only if you are located outside of the CySEC regulatory area.
If you are an XM Zero account holder, you can access USD or EUR as base currencies with JPY available under global market regulation.
XM Ultra-Low account holders can select between five base currencies. These are EUR, USD, GBP, AUD, and CHF.
If you are an XM Shares Account holder, USD only is available for trading with.
XM Funding and Deposit Methods
Again there is a range of XM deposit methods available to traders. These will depend on the country in which you live and not the regulatory jurisdiction you fall under.
Wondering for example if you can make a minimum deposit in ZAR?
The answer is yes, you can deposit in any currency, this includes ZAR. These funds will then simply be converted into your base currency for trading on your account.
XM deposit by wire transfer is, of course, available and widely used. This funding method is available to traders worldwide and there is a minimum deposit of $60 in place here.
With that said, you will incur a fee if the wire transfer you make falls below $200. If the deposit is above this amount, then not only will XM waive any fees they charge, they will also cover any fee you would usually incur from your own bank side. Therefore, although it is not explicitly required, it is in your best interest to deposit more than $200.
Credit card deposits are available through both Visa and Mastercard at XM. These are accessible to traders around the world with a minimum deposit amount of just $5.
There are no fees from the broker side, but again if your financial provider does levy a fee, this will be covered for anything over a $200 deposit by XM.
Again, the minimum XM deposit through an eWallet is only $5. This can be made through Neteller, Skrill, Perfect Money, or a host of others dependent upon your country. At this time XM PayPal deposits are not available.
If you want to know about the top brokers accepting PayPal as a payment method then you can check our selection of the best PayPal forex brokers.
Other XM deposit options
Other XM deposit options available include both Western Union and MoneyGram although these will depend on your location and fees may be applied for these services although not from the broker side.
Various local methods and local bank transfer deposits may also be open to you depending on your area. These minimum deposits will vary.
XM bonus amounts and XM deposit bonuses are available though not to those regulated under CySEC/ESMA. Also, although you can receive bonuses under certain circumstances with XM, the bonus amounts themselves are typically not eligible to withdraw, though any profits derived from them usually are.
If you are outside Europe and are eligible for deposit bonuses then you may also want to check our top forex brokers bonus promotions.
No Deposit Bonus
Unlike many brokers, an XM no deposit bonus is available. This means you can effectively start trading without any real money. While you cannot withdraw the bonus funds, you can withdraw any profits made from them.
This XM bonus amount is in the form of a $30 welcome bonus or the equivalent amount based on your account.
You can also view which broker have the best no deposit bonus in our selection of the best no deposit bonus forex brokers.
XM Bonus Program
An XM bonus program is in place. This program provides for a 50% deposit bonus up to $500 and then a further 20% deposit bonus on amounts up to $4500. This can be redeemed through trading with the broker. The only exception with this is that it is not available with XM Ultra-Low Accounts.
XM Minimum Deposit FAQs
Does XM have a ZAR account?
An XM ZAR account is available and possible to open. You must be a resident of South Africa to access this account though.
Can I trade forex with $10?
It is possible to trade forex with $10. Both the XM Micro, and XM Standard account types have minimum deposits starting from just $5.
What is the XM Zero Account?
The XM Zero account is essentially a low spread account where the spreads start from 0 pips although a commission of $3.50 per lot traded is charged. The minimum deposit for this account type is just $100 though it is not made available to Australian traders.
About the Author
Always full of different interests, Luca started to get interested in the field of personal finance in 2014.
His self-taught studies led him year by year to become increasingly interested in the investment field.
To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.
His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.
In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.