XM deposit guide

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Minimum deposit amount at XM

 

The minimum deposit at XM is $5.

Check out the following comparison table to see how XM stacks up against similar brokers when it comes to minimum deposits:

XM minimum deposit vs. similar brokers
  XM FxPro FXTM
Minimum deposit $5 $100 $50

 

Visit XM
75.59% of retail CFD accounts lose money


The minimum deposit means that you will need to transfer this amount to your brokerage account from your bank account to start trading. It is sometimes called an initial deposit or funding.Besides the XM minimum deposit for Standard and Micro accounts, there is a $100 minimum for XM Zero accounts and $50 for XM Ultra Low accounts.

Beyond the required minimum deposit, there are a couple of other factors to consider when you are about to open an account at XM. Here are the main pros and cons when it comes to depositing at XM:

Pros

Cons

• Credit/Debit card deposit

• None

• No deposit fee

 

• Several account base currencies

 

 

XM deposit fees and deposit methods

 

XM does not charge a deposit fee. This is great because the broker won't deduct anything from your deposits and you only have to calculate the costs charged by the bank or third-party service provider through which you send the money. If you want to know more about XM fees, check out the fee chapter of our XM review.

In terms of available deposit methods, XM is in the same league as its closes competitors.

XM deposit methods
  XM FxPro FXTM
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Deposit fee $0 $0 $0

Wire transfer: 2-3 daysThe average transfer times for the different methods are:

  • Credit/debit card and online wallets: instant or a few hours

Depositing money to your XM account is not user-friendly compared to similar brokers. Figuring out where and how you have to make the transfer is a bit complicated.

XM deposit guide - Interface to send the minimum deposit

The interface to send the minimum deposit to XM

 

How to deposit at XM

  1. Open your broker account
  2. Log in and go to the depositing interface
  3. Select your deposit method
  4. Make the deposit
  5. Review your transaction

Depending on the method you choose, it might take a couple of days for your deposit to show up on your brokerage account. When it happens, the brokers usually send you an email to confirm receipt of the deposit.
 

Visit XM
75.59% of retail CFD accounts lose money

->Back to full XM review 2022

Further reading:

Author of this article

Márton Oláh

Author of this article

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

Márton Oláh

Strategic Advisor

Márton Oláh, MSc has been a macro and value investor of stocks for 10 years on his own account. Since 2020 he has been trading options and volatility as well. Márton has founded a venture capital backed company and led it for 8 years before professionally turning to finance therefore is an expert in interpreting company reports.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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