XM Minimum Deposit
The XM minimum deposit requirement is $5 or a currency equivalent. This is applicable for all XM account types, except for the Shares account offered by XM Global, which has a $10,000 minimum deposit requirement.
The XM Minimum Deposit Overview
Minimum Deposit | XM | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Commission- Free | $5 | $0 | $1 | $100 | $100 |
Commission- Based | $5 | $0 | $1 | $100 | $100 |
The Pros & Cons of the XM Minimum Deposit
Before making a deposit, traders should consider the pros and cons of the XM minimum deposit.
Pros of the XM Minimum Deposit
- A clean track record
- Segregation of client deposits
- No internal deposit fees
- Choice of payment processors
Cons of the XM Minimum Deposit
- Lack of transparency about the deposit process
- No information on internal currency conversion fees
- No cryptocurrency deposits
How to Make a Deposit with XM
The XM minimum deposit is $5, but it takes significantly more capital to trade effectively, and traders should consider depositing more.
Steps for Making a Deposit with XM
- Log into your XM member area
- Click “Funding”
- Choose your payment processor
- Enter your desired deposit amount
- Follow the on-screen instructions
XM Deposit Fees and Deposit Methods
XM does not levy internal deposit fees, but traders may face third-party processing costs.
XM deposit methods, internal processing times, and known transaction limitations are:
Deposit Method | Processing Time | Deposit Currencies | Minimum Single Deposit | Maximum Single Deposit | Withdrawal Option |
|---|---|---|---|---|---|
Bank wires | Two to Five days | Multiple currencies | $5 | Undisclosed | Yes |
Credit/debit cards | Within 24 hours | Multiple currencies | $5 | Undisclosed | Yes |
China Union Pay | Within 24 hours | USD, EUR, GBP, CHF, AUD, PLN, HUF | $5 | Undisclosed | Yes |
Skrill | Instant | USD, EUR, GBP, CHF, AUD, PLN, HUF | $5 | Undisclosed | Yes |
Neteller | Instant | USD, EUR, GBP, CHF, AUD, PLN, HUF | $5 | Undisclosed | Yes |
Sofort Banking | Instant | EUR, GBP | $5 | Undisclosed | Yes |
CashU | Instant | USD | $5 | Undisclosed | Yes |
Przelewy 24 | Instant | PLN | $5 | Undisclosed | Yes |
NganLuong | Instant | USD, EUR | $5 | Undisclosed | Yes |
WebMoney | Instant | USD, EUR | $5 | Undisclosed | Yes |
Noteworthy:
- The XM deposit screen lists all deposit methods, but geographic restrictions may apply.
XM Deposit Methods vs. Similar Brokers
Deposit Methods | XM | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
Bank wires | Yes | Yes | Yes | Yes | Yes |
Credit/debit cards | Yes | Yes | Yes | Yes | Yes |
Skrill | Yes | Yes | Yes | Yes | Yes |
WebMoney | Yes | No | Yes | Yes | No |
China UnionPay | Yes | Yes | No | Yes | No |
Perfect Money | No | No | Yes | No | No |
Other e-wallets | Yes | Yes | Yes | Yes | Yes |
Localized Methods | Yes | Yes | Yes | No | No |
Crypto- currencies | No | Yes | Yes | No | No |
XM Deposit Currencies
Traders should understand the difference between account base and deposit currencies to avoid confusion and potential currency conversion fees. The former is the base currency of a trading account, and the latter are currencies available for deposits through payment processors. XM does not disclose potential internal currency conversion fees.
XM supports the following account base currencies:
- US Dollar
- Euro
- British Pound
- Swiss Franc
- Hungarian Forint
- Polish Zloty
- Australian Dollar
- Singapore Dollar
- Japanese Yen
- South African Rand
XM supports the following deposit currencies:
- All fiat currency offered by the trader’s bank, which XM automatically converts into the account base currency.
XM Trading Account Currencies vs. Similar Brokers
Account Currencies | XM | Axi | InstaForex | Tickmill | Admirals |
|---|---|---|---|---|---|
US Dollar | Yes | Yes | Yes | Yes | Yes |
Euro | Yes | Yes | Yes | Yes | Yes |
British Pound | Yes | Yes | No | Yes | Yes |
Swiss Franc | Yes | Yes | No | No | Yes |
Australian Dollar | Yes | Yes | No | No | No |
Others | Yes | Yes | Yes | No | Yes |
Total | 10 | 10 | 3 | 3 | 10 |
Steps for Sending an XM Minimum Deposit
Sending an XM minimum deposit functions similarly to online banking, and the XM minimum deposit is handled through the secure XM member area of the platform.
A Step-by-step Guide to Sending Your XM Minimum Deposit
1. Log into your XM member area and click “Funding” in the left menu bar.
2. Choose your payment processor, enter your deposit amount, and follow the on-screen instructions.
3. XM notifies clients once it credits the deposit to the trading account.
XM Minimum Deposit Bottom Line
The XM minimum deposit is $5, except for the $10,000 requirement for the Shares account offered by XM Global. Only verified accounts can make the XM minimum deposit, and the name on the payment processor must match that of the XM account.
Read more about XM, in our up-to-date XM Broker Review.
FAQs
What is the maximum leverage for XM?
The maximum XM leverage is 1:1000.
How do I fund XM?
Traders can fund their XM account via numerous payment processors listed in the XM member area.
What is the margin requirement for XM?
The margin requirement is asset-dependent but as low as 0.001%.
Is XM good for beginners?
XM is a competitive beginner broker with a low minimum deposit requirement, competitive fees, trading platform upgrades, bonuses, rewards, a loyalty program, and quality research and education.
How much is the XM minimum deposit?
The XM minimum deposit is $5, except for the Shares account offered by XM Global, which requires $10,000.