This article explains about XM bonus program.
XM offers a variety of promotions and services to help beginners and advanced traders trade in a better environment.
XM is very popular with traders all over the world, and one of the main reasons is the bonus.
By utilizing the bonus, you can start trading with a small amount of money, reduce the risk and aim for a large profit.
In this article, I will explain in detail the types and characteristics of bonuses offered by XM, how to receive them, and points to note.
- Types and characteristics of bonuses offered by XM
- How to receive and utilize XM bonuses
- Notes on XM bonuses
What is Bonus program?
This is common not only to XM but to all Forex brokers, bonuses generally refer to the following.
- By meeting certain conditions such as opening an account and making a deposit
- To receive “money” that can be used as margin
It is difficult to express this “money”, and I think that it is difficult for beginners to understand.
Generally, bonuses are added to the “credit” frame in MetaTrader (MT4, MT5).Strictly speaking, this is not “cash” and you cannot withdraw this.
On the other hand, the money you deposit for trading funds falls into the “balance” frame.
Margin required for Forex trading is calculated by balance + credit.
This means that the bonus cannot be withdrawn by itself, but can be used as margin.
Benefits of getting a bonus
The benefits of receiving a bonus are:
- You can start trading just by opening an account without making a deposit.
- Because the margin increases, you can aim for a big profit even with a small deposit amount.
- You can trade with less funds by using the deposit bonus.
- The real spread can be narrowed by the amount of the bonus.
As the margin increases, you can trade with less risk.
In other word, for example, with a 50% deposit bonus, you can take 1.5 times the risk with the same amount of funds.
Regardless of the way of thinking, from the perspective of risk and return, even if you take the same risk, you can expect a larger return.
Also, regarding the real spread at the end, if you get a bonus, the input cost per trading unit will be lower, so you can think that the real spread (transaction cost) will be narrower (cheaper).
In the case of XM, there is cash back by XMP points, so the more you trade, the narrower the real spread.
Disadvantages of getting a bonus
Regard to disadvantage, but there is nothing in particular.
The point is that you need to be careful not to get freeze your account or refuse to withdraw because it is considered a trade that abuses your bonus.
This is a violation of the rules, so of course you shouldn’t do it, but it seems that some people do it innocently.
- Repeatedly earn account opening bonuses in the name of another email address, family member
- Having cross orders in accounts
XM offers negative balance protection (NBP) system.
This is a system that returns the balance to zero without generating margins or borrowing even if the balance becomes negative.
You can make a profit by abusing the bonus and NBP system.
For example, let’s say you want to trade the same currency pair on both sides (cross order) with full leverage and the maximum lot limit.
If the market moves to either side, one may be negative and meet the stop out, but the other will be profitable.
The negative one will automatically be a stop out, but since there is NBP system, it will not be a loss.
If you close the position that has unrealized profit, it will be profit.
This is clearly an abuse of the bonus.
Your account will be frozen.
XM bonus types
Now, let’s take a closer look at the XM bonuses.
XM offers non-deposit bonus and deposit bonus.
Actually, there are not many forex brokers that offer both non-deposit bonus and deposit bonus.
In addition, XM also offers a loyalty program, a program with points called XMP (XM points), which has a cashback service.
Below is a list of them.
|Bonus Program||Bonus Amount||Remark|
|XM Non-Deposit Bonus||$30||Non-withdrawable|
|XM Deposit Bonus||Max $5,000||Non-withdrawable|
|XM Loyalty Program||Approx.$5 per lot||Non-withdrawable / Withdrawable|
(You can select)
From here, I will explain each bonus in detail.
Of these, the XM Loyalty program is a little different from other bonuses. For more information about XM Loyalty Program, please refer to separated article, “XM Loyalty Program | How to Utilize XMP“.
XM Non-Deposit Bonus
What is XM Non-Deposit Bonus?
Non-deposit bonus is a bonus that you can get by opening a real account in XM.
It is sometimes called an opening account bonus.
XM is currently offering a $30 non-deposit bonus.
If you get this bonus, you can trade without any depositing.
How to receive XM non-deposit bonus
Follow the steps below to receive the XM non-deposit bonus.
- Open a real account
- Select “Receive the bonus” when opening an account
- Complete identity verification
- After completing identity verification, request non-deposit bonus from the member page
- Enter your mobile phone number and receive the verification code
- Enter the verification code on the screen, the non-deposit bonus will be reflected in the MT4 / MT5 account as credit
Please note that you must select “Receive the Bonus” when opening an account.
If you forget this, you will not receive the account opening bonus.
Oh, you forgot that?
Open an additional account.
If you forget to get the non-deposit bonus in your main account, you can get it in an additional account.
As you will see later, you can get the XM account opening bonus for only one account.
If you get the bonus with your first account, you won’t get it with an additional account, but if you forget to get it, create an additional account and get it there.
Once your your identity has been confirmed, you will see a “Claim Bonus Now” button on your membership page.
Click the button and claim the bonus, then the non-deposit bonus will be deposited immediately in the MT4 / MT5 account.
For the account opening procedure and identity verification procedure, see the separate article “How to Open an Account in XM?“.
Only one account can receive XM non-deposit bonus
Only one account can receive non-deposit bonus with XM.
You can create additional accounts with XM, but if you get non-deposit bonus with your first real account, you won’t get it with your additional account.
Must select “receive the bonus” when opening an account
As mentioned above, when opening an account, on the screen for entering detailed trading account information, select whether to receive non-deposit bonus or not.
If you want bonus, don’t forget to select “Receive the Bonus”.
You need to complete the verification process
To get XM non-deposit bonus, you mush complete identity verification process.
After submitting the identity verification documents and the current address verification documents, if approved by XM, the non-deposit bonus request button will be displayed on th member page.
For identity verification procedure, see the separate article “How to Open an Account in XM?“.
If you do not claim for 30 days after opening an account, your rights will expire
If you do not claim for 30 days after opening an account, your right to receive an account opening bonus will expire.
This is not from the completion of identity verification, but from the completion of the account opening.
If you want non-deposit bonus, please verify your identity immediately and get non-deposit bonus.
XM Deposit Bonus
What is XM Deposit Bonus?
XM deposit bonus is a bonus that you can get according to the deposit amount when you deposit to a real account.
XM currently offers 50% of the deposit amount up to the first $500,and offers 20% deposit bonus on deposits from $500 up to $4,500.
The maximum bonus amount that you can get is $5,000.
This is quite big.
I have summarized in the table how bonuses will be given to the deposit amount.
There are no restrictions on the number or duration of XM deposit bonus, so you don’t have to deposit the maximum amount at one time, and if you deposit at your own pace, you will get a deposit bonus for a while.
|Your deposit||Deposit Bonus|
|Total Margin||Remaining to claim|
How to receive XM deposit bonus
No special procedure is required to receive the XM deposit bonus.
Just make a deposit and it will be reflected automatically.
You can get a deposit bonus even with an additional account
Non-deposit bonus was given only to the first one account, but the deposit bonus can be given even if it is an additional account.
When you deposit to an additional account, you will receive a deposit bonus.
Deposit bonus is the sum of all accounts
XM deposit bonus can be obtained with additional accounts, but the maximum deposit bonus of $5,000 is calculated for all accounts.
You do not get $5,000 for each account.
Transfer of funds between accounts is not considered a deposit
Deposit is limited to external deposit.
XM allows you to transfer funds between accounts by creating additional accounts, but this is not considered a deposit.
No new deposit bonus will be given even if you transfer funds.
However, if you have the remaining deposit bonus in the source account, when you transfer funds to another account, the deposit bonus will move according to the amount transferred.
How to check the remaining of XM deposit bonus
When you log in to the member page, the remaining deposit bonus limit is displayed below the list of owned accounts.
The image is mine and has $4,141 left.
Precautions and important points when using XM bonuses and withdrawing
From here, there are common points to note regarding the XM non-deposit bonus and deposit bonus.
In particular, it is important, such as restrictions on withdrawals.
The bonus itself cannot be withdrawn
With XM, neither non-deposit bonus nor the deposit bonus can be withdrawn.
Bonuses go into the credit frame and are used as an effect to increase margin.
It is impossible to open an account, get $30, and withdraw only $30 immediately.
All profits earned by bonuses can be withdrawn
If you make a profit only by bonus, you can withdraw it in full.
If you start trading with an account opening bonus of $30 and get a profit of $1,000 to reach $1,030, you can withdraw the full amount of the profit of $1,000.
When you withdraw, the bonus will disappear according to the withdrawal amount
When you withdraw in XM, the bonus will disappear according to the ratio of the withdrawn amount.
For example, if you deposit $1,000, you will get a 50% deposit bonus of $500.If you withdraw $300, the deposit bonus will also disappear by $150.
(Because you withdrew 30% of the deposit amount)
By the way, in some other forex brokers, if you withdraw even $1, the bonus will disappear in full regardless of the amount.
In XM, only the withdrawal ratio disappears, so the conditions are quite good.
When funds are transferred, bonuses will also move according to the amount transferred
In XM, if you create an additional account and transfer funds between accounts, the bonus will be transferred with funds.
In the above example, if you deposit $1,000 and withdraw $300 from an account with a deposit bonus of $500, the same 30% $150 deposit bonus will be transferred.
Margin level is calculated by adding bonuses.
In XM, margin level is calculated by adding bonuses.
Stop out level of XM is 20%, it will endure until the margin level rate drops below 20% including bonuses.
If there is a loss, it will be deducted from the balance first
In XM, if there is a loss, it will be deducted from the balance first.
If you deposit $1,000 and have a 50% deposit bonus of $500,If you lose $300, your balance will remain at $700, your bonus will remain full of $500, and your margin will be $1,200.
If you got stop out, the negative amount of the balance will be compensated (offset) from the bonus
If you got stop out in XM, your negative balance will be reset to zero and you will not be in debt.
This is negative balance protection (NBP) system. If the bonus remains when negative balance is reset to zero, the minus amount will be deducted from the bonus.
If the bonus remains when negative balance is reset to zero, you can continue to trade
When you got stop out, but if the bonus remains when negative balance is reset to zero, you can continue to trade.
If you make a profit from here, you can withdraw the entire profit.
You never need to compensate for the previous negative balance.
How was it?
The XM bonus is gorgeous and the conditions of use are relatively good.
First, take advantage of non-deposit bonus with just opening account and start trading without any risks.
＼Just 3 minutes!!／