How to withdraw money from XM: methods and costs

One of the most common fears about trading online is, can I get my money back? And even if that's a given, will I face any extra costs, delays or difficulties as I try to withdraw my uninvested funds?

XM is a trustworthy broker that honors all withdrawal requests. The withdrawal experience is great overall, but read on to see if you'll face any costs or restrictions in the process.

Withdrawal at XM is fast, with several transfer options available

Withdrawal at [Broker name] is fast, with several transfer options available

Adam Nasli

Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Learn about our methodology

Adam Nasli

Trading • Safety • Market Analysis

XM is one of many brokers I have tested throughout the years. I used my own money for trading - and then tried to get it back. Here's how it went:

• No worries - XM is a reliable broker that lets you access your funds any time.
• There are several ways to withdraw your money, including bank transfers.
• In most cases, you can get your money back within 2 days.
• XM charges $0 for basic withdrawals, but some methods may cost more.
• Read our full review of XM for detailed funding and trading conditions.

First, let's see if XM is available in your country?

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71.61% of retail CFD accounts lose money

Disclaimer: 71.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Let me start with the good news: XM is considered a legit and trustworthy broker, where your money is in good hands, and you can withdraw it whenever you want to.

How to tell if a broker is trustworthy? In our view, a broker is considered legit if its operations are overseen by at least one top-tier regulator. At BrokerChooser, we only recommend such regulated brokers.

Unfortunately, the online trading industry is plagued by a large number of unregulated or scam brokers. Many of these simply refuse to return your money, or require outrageous percentage commissions before doing so. If you've heard about any broker that you're unsure about, check it against our scam broker list or discuss it in our Forum.

So how to actually withdraw funds from XM? At XM, you have multiple options to choose from when you want to withdraw money. The most basic of these is bank transfer. This is a common option that is available at virtually all brokers, and XM is no exception.

In addition to bank transfer, XM also allows you to withdraw funds to a debit or credit card. Many brokers don't offer this option, so this is a definite plus for XM.

You can also withdraw money to certain types of electronic wallets. This is a nice feature that isn't available at all brokers. At XM, you can withdraw money to the following electronic wallets: Skrill, Neteller for withdrawal, Sticpay for Deposit (under FSC)

Whatever methods you use, you may only withdraw money to bank accounts, cards or wallets that are in your name.

For credit/debit cards and electronic wallets (Skrill, Neteller), the withdrawal amount cannot exceed the amount you deposited using the same instrument. This means that you can only withdraw your trading profits via bank transfer.

Withdrawing money from XM - a step-by-step guide

How do you withdraw money from XM?

• Log in to your account
• Go to 'Withdraw Funds'
• Select the withdrawal method
• Enter the withdrawal amount

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71.61% of retail CFD accounts lose money

Whatever method you use, withdrawals from a brokerage account are rarely instant. When I tried withdrawing funds from XM, I had to wait two business days for the money to arrive. Not the fastest for sure, but actually this is considered fairly normal in the online brokerage world.

Strict withdrawal times are not the only factor to keep in mind when you need to retrieve money from your broker account. The most important thing is that you can only withdraw uninvested cash from your brokerage account. If all of your funds are invested, you need to close some or all of your positions first to make the necessary amount of cash available in your broker account.

Converting your assets to cash often takes additional time. For example, if you sell a stock, it will take another day (or most likely two) for the transaction to settle and for the cash proceeds to appear in your brokerage account.

So what I would normally do is think ahead depending on how urgently I needed the money. For example, if I needed $1,000 cash on Monday and it was still all tied down in stocks or some other assets at XM, I would probably

• log in to my XM account as much as a week earlier, to sell stocks or other assets worth $1,000 (or maybe a bit more to cover any withdrawal fees; see next chapter).
• Then I would check back a day or two later (around the middle of the week) to see if the asset sale has been completed and if the cash has appeared in my broker account.
• If yes, I would then initiate the withdrawal, so that the money arrives in my personal bank account or on my card (whichever applicable) by next Monday at the latest.

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. But I have good news: basic withdrawal at XM is free of charge. See the table below for details and possible exceptions, and also how XM's fees compare to some of its immediate competitors.

Conversion fees

In addition to any withdrawal fees, you should also be aware of potential conversion fees. These usually apply if your bank account or card is denominated in a different currency than the funds you are withdrawing from your broker.

At XM, the following account currencies are available: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD.

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71.61% of retail CFD accounts lose money