How to withdraw money on XM – A tutorial on how to withdraw money

XM trading logo

XM is a global trading platform, popular since 2009. It is known to have approx. 3 million clients worldwide. This online trading platform is regulated by CySEC (Cyprus Securities & Exchange Commission) and ASIC (Australian Securities and Investments Commission). With a wide reach of clients from 196 countries, XM provides reliable customer support and trading instruments to its traders. 

XM trading official website
XM Trading official website

XM gives the facility of dealing in 55+ currencies, precious metals, energies, commodities, CFDs on equity indices, etc. XM has been popularized in the trading world by various names – XM Broker, XM Markets, XM Global & XM Group. 

The availability of XM is on both Android and Apple platforms. You can access the XM platform on your iPad, iPhone, tablet, smartphone, etc. 

You have the option of opening 3 types of accounts in XM. They are as follows:

Demo account

When you open a demo account at XM, you start with $100,000 account balance. also, you can create up to 5 demo accounts to try out different strategies.
When you open a demo account at XM, you start with a $100,000 account balance. Also, you can create up to 5 demo accounts to try out different strategies.

All South African traders are offered a chance to open a free demo account. These account holders are offered virtual cash of $100,000 for trading. These traders get access to various analytical tools and real-time data on this platform. 

The users get additional support through the educational materials on the website. This account is functional for the users for 120 days. After this, if you want to access the demo account, you will have to log in from scratch. 

ZAR account

The ZAR account in XM has all three types of accounts, i.e., Micro Account, Standard Account, and Ultra-Low Account. For all three account types, you need to pay a minimum deposit of R70 (approx. $5)

Live accounts

The XM customers are offered 3 different types of Live Accounts. All have three common features –

–        Protection from Negative Balance: This feature protects the account holders in case of potential losses. You will never face the situation of a negative balance via this feature. If you incurred any losses, and your balance goes down to zero, then it will stay at zero only. 

–        Instant Order Execution: Once a customer places their trading order, the execution of it is instant. There are no rejected orders; you will receive your orders at a price on click without any requotes.

–        ZAR Base Currency: All South Indian traders have the option to choose ZAR as their base currency. If they want any other currency to be the base of their XM trading account, that is also possible. 

As you can see, XM trading is available not only for the desktop, but also for the cell phone and for other devices.
As you can see, XM trading is available not only for the desktop, but also for the cell phone and for other devices.

XM Zero Account

The spread of this account is very low, i.e., 0.1 for USD/EUR. With a minimum deposit of $ 100, it is highly recommended, especially to first-time traders, due to low fees. 

XM Ultra Low Standard Account

With a low ($5) minimum deposit, this account is also suitable for all the new traders. You can trade micro-lots (1000 units or multiples of them) through this account. This account has the standard leverage of 1.888.

Having the average spread to be 1.6 pips for USD/EUR, you can also utilize the various bonuses and offers through this account. 

XM Ultra Low Micro Account

You can trade up to the set standard, mini and micro-lots in this account. Here, the minimum deposit to be paid is $5. Everything else is similar to the minor account. 

Forex islamic accounts

These are the optional swap-free accounts. Here, there will be no rollover or swap interest charged on the overnight positions. This account can be opened by the traders who are ready to follow the rules of the Sharia Laws. You can open these Islamic accounts with any three of the live accounts, i.e., standard, micro, and ultra-low. 

XM islamic account
XM islamic account

Highlights of XM

Year Founded
0.6 to 1.7 pips
Maximum Leverage
$30 / R480.00 ZAR
Minimum Deposit
$5 / R80 ZAR
MetaTrader 4 and MetaTrader 5
OS Compatibility
Android, iPhone, Web Browsers, Linux, Windows, iPads, MacOS, Tablets
Tradable Assets
ETF, CFD, Forex, Options, Cryptocurrency, Indices, Commodities, Bonds, Metals, Shares, Energies
Language supported on Website
23 Languages
Customer Support Languages
23 Languages
Customer Service Hours

Process of opening an account in the XM platform

To open your account in XM, you should follow the below steps; once these are complete, you will be able to start trading with immediate effect. 

Step #1 Sign-Up

On the official website –, open the homepage. The top right corner of the screen contains an – Open an Account tab. The Account Registration page will open where all your personal details need to be filled in for the purpose of account creation. 

Step #2 Select your preferred account

Here, you will choose the account type for your trading. You will be asked to confirm some details, namely –

  • Leverage
  • Bonus
  • Citizenship
  • Investor Information
  • Account Base Currency

Step #3 Set the password

You need to set a strong password for your trading account and then click on the option – Open a real account. 

Step #4 Verification of account

This is an important step of signing up, which confirms your identity. You will be asked to share the following identification documents

  • ID Proof such as your Passport or PAN Card or Driver’s License) 
  • Address Proof (Utility Bill – Electricity Bill of any of the previous three months) 

Step #5 Funding your account

This is the final step of the process, where you will be asked to deposit the initial amount through the XM client portal. 

Account Type
Micro Account
Standard Account
XM Zero Account
XM Ultra Low Spread
Base Currency
Contract Size
1 Lot = 1,000 units
1 Lot = 100,000 units
1 Lot = 100,000 units
1 Lot = 100,000 units
1 Lot = 1 Share
1 Pip
1 Pip
0 Pip
0.6 Pips
Minimum Trade Volume
0.01 Lots (MT4) 0.1 Lots (MT5) 
0.01 Lots
0.01 Lots
Minimum open or pending orders per client 
200 Positions
200 Positions
200 Positions
Minimum Deposit
No Deposit Bonus
Trading Bonus

Withdrawal options in XM

How to withdraw money on XM?

The steps you must follow to withdraw money from your XM account are –

Step #1 Log in to your XM account.

Step #2 On the top of your screen, you will find the Withdraw button.

In case of multiple XM accounts, you should log into the one you want to withdraw money from. 

Step #3 Click on the option, you will find several withdrawal methods; select your preferred method. 

Step #4 Your chosen amount will be converted to USD automatically.

Step #5 Click confirm once you are okay with each detail above. 

All withdrawal requests in XM are processed within 1 Day (except on weekends & public holidays) 

As all the refund transactions are processed by the Card companies, it may take a few weeks to a month to process the final withdrawal transaction (even if XM has completed the withdrawal process completely). 

Withdrawal Methods
Withdrawal Fees
Minimum Withdrawal Amount
Processing Time
Credit Card
2 to 5 Working Days
24 Working Hours
24 Working Hours
Bank Wire
XM covers the related transfer fees
2 to 5 Working Days

Rules of XM fund withdrawal

  • You need a verified account for the withdrawal process. You need documents with Valid details (ID, Address proof, etc.). This will be submitted when you make a request for withdrawal. 
  • The withdrawal time will be directly dependent on your selected method – e-wallet, credit card, bank transfer, Bitcoin, etc. 
  • Your funds from the first withdrawal will be added to the same source you deposited your funds from. Same source withdrawal will work like – If you deposited $50 from your e-wallet, then the first withdrawal fund will be deposited to your e-wallet only. You can change the method after the first withdrawal transaction. 

How to deposit money in XM Account?

Trading Platform available for any device
Trading Platform available for any device

You can open up to 8 accounts in XM. For depositing funds in your trading account, you must follow the below process –

Step #1 Log in to your XM trading account. 

Step #2 On the top of your screen, you will find a Deposit option; select it. 

In the case of multiple XM trading accounts, you should select the account that you want to deposit money in. 

Step #3 Select your preferred deposit method

(Visa or MasterCard / Internet Banking Service / E-Wallets such as Neteller, SticPay, Skrill, Ngan Luong / Cryptocurrency Wallet like Bitcoin, etc.) 

Step #4 You should enter your deposit amount (If you are not a US client, XM will automatically convert your deposited amount to USD. 

Step #5 Click confirm once you are satisfied with the information you have submitted during the process. 

Deposit Methods
Deposit Fees
Processing Time
Credit Card / Debit Card
International Bank Transfer
3 to 5 Working Days
Skrill (MoneyBookers)
Free Clients bear payment fees
Immediately to 1 Hour
Free Clients bear payment fees
Immediately to 1 Hour

Rules of the XM deposit

  • You should make sure that you deposit the funds from your registered XM account. 
  • You won’t be charged any additional fees or commission when you deposit money via debit or credit card. 
  • You can start trading after only a few minutes of depositing funds in your XM account. 
  • You should be aware that when you submit your deposit request, you are giving permission to third parties like banks, law enforcement, payment service providers, government agencies, banks, credit reference bureaus, etc., to have access to your personal data. 

Want to learn more about different brokers? In this overview, we have compiled the 20 best brokers for you.

Withdrawal methods

XM brokers have the option to choose the depositing of funds from several electronic payment gateways such as –

  • Debit / Credit Cards

The deposit can be made via MasterCard, VISA, Maestro Debit or Credit Cards, and VISA Electron. You need to have a minimum balance of $5 to process the transfer via Cards. 

  • EFT

Funds can be deposited through EFT and local bank transfers in ZAR. No extra fees will be charged from the customers via this method. 

  • Bank Wire Transfer

You can use the bank transfer method, which is available on some selected currencies. The minimum amount required for a bank transfer is $200. The processing time for such transactions is 2 to 5 business days. 

  • Electronic Payment

You also have the option to choose an e-payment method through various gateways like Skrill, CashU, Przelewy 24, Bitcoin, Neteller, Sofort Banking, etc. There is no service charge on this transfer, and the minimum requirement is $5.

Fees that can occur

XM Trading: 0% fees on deposits and withdrawals
XM Trading: 0% fees on deposits and withdrawals

Depending on your account type, the Commissions & Fees vary. The fees & charges here are:

  • No Commission

XM doesn’t offer an ECN account to its users, i.e., no additional commission is charged. 

  • Low Spread

XM offers its users variable spreads. The general USD / EUR spread offered by them is 2 pips for the standard & micro account. With ultra-low accounts, the general spread is 0.8 pips. 

Asset / Pair
XM spread
EUR / USD spread
1.6 pips
Crude Oil WTI spread
5 pips
Gold Spread
BTC / USD spread
  • Zero deposit or withdrawal fees

There are no extra charges in terms of deposit or withdrawal fees. You can choose any payment method, and you will receive the full amount without deduction. 

  • High Rollover or Swap Fees

With the standard, micro, and ultra-low accounts, there are high rollover fees charged for the overnight positions. These swap fees are high when compared to the other foreign exchange brokers. 

There are no other commission charges at XM except spreads. According to the review given by the users, the fees of the ultra-low account are quite competitive. And the fees for the micro & standard accounts are considered to be high. 

XM promotions and bonuses

  • XM offers a no-deposit trading bonus of $30 for all its new clients.
  • XM offers free VPS for all clients with balances up to $5000.
  • XM offers a two-tier deposit bonus to its clients, offering a 20% bonus up to $5000 and a 50% welcome bonus up to $500.
  • The Loyalty Program in XM offers the XMP (XM points) to its clients. You can redeem these points at any moment to gain a credit bonus. This credit bonus will be used for trading purposes. 

Pros and cons of the XM trading account


  • You can sign up in the XM trading account with a minimum deposit amount of $5.
  • It has user-friendly software. 
  • This platform is available to trade on desktop as well as mobile applications. 
  • It supports 23 languages. 
  • The regulation of XM is taken care of by two top-tier organizations – ASIC and CySEC. 
  • This account offers the facility of Negative Balance Protection. 
  • It provides the traders with a good range of trading instruments. 
  • Clients get to trade with 55+ currency pairs. 


  • There are no fixed spread accounts available. 
  • The support system doesn’t have a local contact number. 
  • This is a market maker broker. 
  • It doesn’t have a banking license. 
  • It doesn’t offer 24/7 support. 
  • It charges inactivity fees from traders. 
XM trading is compatible with MetaTrader
XM trading is compatible with MetaTrader


XM is a highly regulated broker having a good client base of around 3 million. It provides research and education material to its clients for better trading; this option is really beneficial to the new users. Regulated by two top-tier organizations, its operations are managed effectively. 

XM offers various promotion and bonus options to its clients. It also is known for its customer support services, aiding the traders whenever required. No extra fees (except inactivity fees) and commissions and the policy of negative balance protection are very attractive facilities, especially to new users. 

It also warns its customers about the risks associated with CFD and Forex trading. You also have the option to open a demo account and start trading to check if you are comfortable and ready to go dive into this forex trading platform. 

FAQ – The most asked questions about XM withdrawal :

How long will my withdrawal be pending on XM? 

Your withdrawal amount on XM will be available to you within 3 – 5 working days. As XM doesn’t operate on weekends and holidays, you should place your request for withdrawal, taking into account the day and time. It may take less or more time, depending on your chosen method, to transfer the withdrawal amount. 
You may face some issues during the bank transfers, as the bank transfers usually take longer to process as compared to the wallet and the other methods of transaction. 

How long will it take for me to withdraw money from XM? 

The withdrawal is processed by the XM team within the duration of 1 to 3 business days after the withdrawal request. The timing may change depending on the method selected and the country in which the trader lives as several rules are applied on the same. 
The standard time is 3 days for any transaction process, but this may increase or decrease depending on the chosen payment method. 

How can I initiate the XM withdrawal?

Perform the following steps to make an XM withdrawal:
First, log in to your trading account.
Choose the ‘Withdrawal’ option from the menu.
Pick the withdrawal mode and/or the account to withdraw to.
If you want to use a wire transfer, you have to give the information of your bank account and your bank.
Then, put in the amount which you want to withdraw.
After that, submit your request.

What payment methods are available for the XM withdrawal?

Traders can use their favorite payment method when opting for the XM withdrawal. They can enjoy trading on XM since they can conveniently choose to fund their trading accounts. For instance, you can use cryptocurrency, bank transfers, electronic wallets, and debit and credit cards.

Can I make an XM withdrawal on weekends? 

Yes, the XM withdrawal policy also allows users to withdraw on the weekends. It will take around 24 hours for the withdrawal to get processed. Moreover, those who use XM Card or any eWallet method will receive their money on the exact day the request has been processed. However, those who use wire transfers and credit or debit cards will have to wait 2-5 working days.

See more articles about forex trading:

Last Updated on May 25, 2023 by Andre Witzel