XM Deposit Bonus

XM is one of the most trustworthy brokers in the industry as of today. Thanks to their multiple regulatory licenses all over the world and their amazing marketing strategies, they could be the most well-regarded broker out there right now. However, the broker also backs up their reputation with actual good services, which include all of the best trader benefits and security.

One of their best features are the bonuses they offer to their clients, be it a welcome bonus, or just a boost to anybody willing to have it. Today we will review the XM deposit bonus and how easy it is for South African traders to get it.

XM deposit bonus explanation

This deposit bonus should not be confused with the XM no deposit bonus. Although the wording is quite similar, the features are drastically different. You see, a no deposit bonus does what it says in the name, it gives you a bonus without a deposit. Meaning that you can register, without having to pay a single ZAR and get some money to trade with.

Whereas the XM deposit bonus is a bit different. It is important to point out that when using this feature you actually have to deposit something, which, depending on the sum you deposit, makes you eligible for a bonus. It could range from 20% all the way up to 50%. There are few sets of conditions that have to be satisfied though, including the eligibility for the deposit bonus, which is provided in the terms and conditions of the bonus rules on the website. The deposit bonus means that whenever you establish the real account with the broker and invest the money on your account, the broker will credit additional sums on your trading account as a bonus. The bonus amount absolutely belongs to you and can be used in the trading. Whatever profit you generate with the the deposit bonus can be withdrawn at any time if certain conditions are met. XM 50% deposit bonus is the most generous rewarding system that currently exists on the market. Most of the brokers will frequently offer anything from 5 to 25% of deposit bonuses and even greater majority of them will include tiny details in terms and conditions which will in fact, detain you from claiming the profit generated by trading with the deposit bonus. But XM does not intend to keep its clients out of reach of the profits, on the contrary, XM broker maintains a decent reputation thanks to its exceptional care for user experience and the focus on customers.

XM deposit bonus examples

XM doesn’t hide the features of the bonus, on the contrary, they try to explain it as simply as possible, however for a beginner or somebody who doesn’t know about bonuses that much, it could still be complicated. So let us now try to explain it even more simply.

Let’s explain the 50% XM bonus. So let’s say that you just deposited 10,000 ZAR. Thanks to the 50% deposit bonus, you will get an additional 5,000 ZAR. So now your account has a subtotal of 15,000 ZAR available on it, but only the 10,000 ZAR you deposited, in the beginning, can be withdrawn. Now, this is where the important part begins. How withdrawing funds from your account will affect the bonus that you have there.

So, let’s get back to the 15,000 ZAR you have. You decide that you want to withdraw 5,000 ZAR because some kind of financial problem resurfaced and you need to deal with it. So you apply for the 5,000 ZAR withdrawal, which will warrant an additional 2,500 ZAR deducted from your account. Let’s explain why this happens.

Everytime you withdraw funds from the account, additional funds are deducted from the bonus that you have there. So by withdrawing that 5,000 ZAR from the 10,000 ZAR you deposited initially you also had 2,500 ZAR deducted. The 5,000 ZAR is 50% of the 10,000 ZAR, therefore a similar percentage of the XM bonus deposit is also deducted, meaning 50% of the initial 5,000 ZAR bonus, which is 2,500 ZAR.

Imagine just depositing $8, receiving $4. That’s a total of $12. Then you decide you want to take out $2, which is 25% of the initial $8, meaning that 25% of the additional $4 that you got as a bonus, will also be deducted (but not withdrawn). Meaning once you take out $2 from the $12, you’re not left with $10, you’re left with $9. $2 that you took out and an additional $1, which is 25% of $4.

What you need to remember about this bonus is that the maximum amount you can get is $500, which is about 7,000 ZAR.

How to get XM deposit bonus

We are going to demonstrate the step-by-step guide on how to claim the deposit bonus offered by XM below:

1. In order to receive the deposit bonus by XM, you need to register a real trading account in the first place. Start by pressing “Open an Account”.
   
2. You have to set up an account profile with the legit data. Be aware of the fact that XM will require the proof of the validity of the inserted data, therefore make sure that all of the provided information is correct and verifiable. Do no use incorrect or fake email, as XM will not allow you to use another address for the same account.
   
3. Choose the trading platform type according to your needs. If you are trading Forex or you intend to focus on Forex market, then pick MT4 (MetaTrader4), if your preference goes towards CFDs or stocks, equity indices, metals or energies then definitely get MetaTrader5 instead. Choose the account type carefully, as different accounts determine the amount of minimum deposit required. Choose Standard Account if you have no specific requirements, the minimum deposit required for Standard Account is $5.
   
4. Fill in the requested information and once again check that they are vaild and verifiable by the supporting documents. The residential address details will also be required to be verified on a later stage.
   
5. Indicate the preferred account base currency along with the option under the Account Bonus box mentioning that you would like to receive the account bonus. Within the section on Investor Information, you can select the data that best matches the actual reality. Be honest about the amount that you are willing to invest and the intended purpose of the transactions. Information provided in this section will not affect or damage your account in any way.
   
6. It is best for you to choose the correct responses to the questions provided in Trading Knowledge and Experience section, even if you have no expertise at all, as it will only result in the improved experience for you with XM. Set your account password and proceed with the confirmation.
   
7. Once you are at the Members Area, log in with the password and MT4 or MT5 ID. Upload the supporting documents as required by the page and your account will be recognized as authentic and verified.
   
8. In order to claim the bonus click along the 50% bonus on deposit and make an initial deposit with your preferred method of payment. The deposit should appear on your tradnig account within maximum of 24 hours from the deposit. Congratulations on setting up your real trading account with XM and your first step towards the Forex trader’s ultimate success!
   

XM points

As you can see from the image above, there is a loyalty program on the platform that gives you the opportunity to earn XM Points. XMP is quite exclusive to this platform. You rarely see brokers utilizing a system like this. At first, it may seem quite confusing but let’s explain it anyway since it is possible to gain a bonus from it as well.

So what are XM Points? They are points that are assigned to you, according to your trading habits. For example, 10 Points can be gathered for 1 traded lot. A lot is 100,000 units of a specific currency. There was no clear indication of how the lots correspond but judging by the major currency a EUR/USD lot will be worth  EUR 100,000. Meaning that if you buy 100,000 EUR it counts as 1 lot traded. But that’s just in the beginning. Once you have traded on the platform for more than 3 months, you will get 20 XM Points per traded lot. So it grows over time.

So let’s now assume that you have been on the XM platform for more than 3 months and want the XM account bonus, but all you have are XM Points and don’t really feel like depositing more. What you can do is to trade this XM Points for bonuses. The formula is like this.

The Bonus is equal to the amount of XMP divided by 3. So if you have 12,000 XMP you will get $4,000 ( about 55,500 ZAR).

Conclusion

This XM bonuses review should have shown you how you can apply and receive a bonus from the broker. Virtually anyone can do it as long as they meet the requirements in terms of deposits. The registration is quite simple as well and also warrants a free XM no deposit bonus of $30 ( about 400 ZAR). The variety at which you can actually get the bonus is quite commendable and considering the reputation of XM, it is one of the best bets in terms of security.

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