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XM withdrawal at a glance

Whether you are using an online broker for short-term trading or for longer-term investments, there will come a point when you may want to enjoy the fruits of your trading activity if you've been making profitable transactions, or you just need access to your funds for any reason. To do that, first you have to withdraw money from your broker account.

That doesn't sound very complicated, but brokers differ considerably in what withdrawal options they offer (such as bank transfer or credit/debit cards), as well as in the speed and convenience of withdrawal. And while withdrawal at many brokers is free in most cases, some brokers and some types of withdrawals may involve a fee.

So how does XM fare in this regard? Before we dive into the details, let us show you at a glance how you can withdraw money from XM and how XM's withdrawal fees and options compare to some of its close competitors.

XM withdrawal fees and options snapshot
XM FxPro FXTM
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee Free withdrawal. The only exception is the bank wire transfer below $200. Free withdrawal $3 for credit card, $20-$40 for bank transfer, $0 for Neteller and Skrill

How to withdraw money from XM
XM withdrawal options

Withdrawal via bank transfer is by far the most common option. It is available at basically 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 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 IFSC).

Speed also matters. Unlike some deposit options, withdrawal is rarely instant. It usually takes at least 1 business day, but often several business days for your money to arrive.

We tested withdrawal at XM and it took us 2 business days, which is considered fairly average.

To withdraw money from XM, you need to go through the following steps:

  • Log in to your account
  • Select 'Withdrawal' or 'Withdraw funds' from the appropriate menu
  • Select the withdrawal method and/or the account to withdraw to (if more than one option is available)
  • Enter the amount to be withdrawn, and, if prompted, a short reason or description
  • Submit your request

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

How to withdraw money from XM
XM withdrawal fees

While depositing money to a brokerage account is free in most cases, this is not necessarily always true for withdrawals. International bank transfers and wire transfers in particular can sometimes incur high fees, so always check carefully if this is something that would apply to your transactions.

We have good news for you: basic withdrawal at XM is free of charge. See the table below for details and possible exceptions, as well as how XM compares with some of its immediate competitors.

XM withdrawal fees
XM FxPro FXTM
Domestic bank withdrawal Free for withdrawals above $200 Free withdrawal Bank withdrawals cost €20/ £25 in EU, €10/ £5 in the UK
International bank withdrawal Free for withdrawals above $200 Free withdrawal Bank withdrawals cost €20/ £25 in EU, €10/ £5 in the UK
Credit/debit card withdrawal Free for withdrawals Free withdrawal $3 for credit/debit cards
Electronic wallets withdrawal Free for withdrawals above $200 Free withdrawal Free for Skrill and Neteller, other electronic wallets may have fee

How to withdraw money from XM
Bottom line

XM withdrawal is free of charge in most cases and you have multiple options for withdrawing your money, making it relatively easy to access your funds.

To see how XM's withdrawal fees and options stack up against the rest of the brokerage market, check out our broker comparison tool.

Author of this article

Ádám Nasli

Author of this article

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

Ádám Nasli

Broker Expert

Ádám is a motivated finance expert with over two years of experience in banking and investment, and a professional degree in this field. He's eager to help people find the best investment provider for them, and to make the investment sector as transparent as possible.

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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