XM Deposit Bonus – exclusive bonus for South African traders
XM is offering one of the most generous deposit bonuses you can get on the Forex trading market today. XM deposit bonus is a wonderful opportunity to increase your initial deposit and with it – increase the profits as well. The best part of the bonus is that it is provided by one of the best brokers that are operating in South Africa or worldwide. XM bonus for South Africans makes them able to boost their Forex trading experience with one of the best-regarded brokers. Therefore, in this article, I will explain how XM deposit bonus works, who can claim it, what are the terms and conditions attached and how to get your bonus.
XM deposit bonus description
Currently, XM is offering three bonuses to its potential or active customers. One is XM no deposit bonus, which is exclusively for the new customers. In this article I will not talk about it, rather be focused on the deposit bonus. There are two deposit bonuses available with XM – 50 percent bonus and 20 percent bonus. Unlike no deposit bonus, the XM deposit bonus is applied on the initial deposit. Meaning, that the broker will give you the money once you deposit your funds. The bonus amount is relative to the deposit. With XM deposit bonus 50% half of your initial deposit will be transferred on your trading account, the maximum amount of the amount of the bonus is $500. meaning that to get the maximum amount of the bonus you need to deposit $1000. However, you can get the minimum amount of the bonus when making a minimum deposit of $5.
XM deposit bonus 20% works exactly in the same way, it can be applied when you deposit more than $1000. The maximum amount of bonus money is $4500. A trader is eligible to use both of the bonuses and get a total of $5000. These bonuses are not withdrawable. They are applicable on all the account types of XM except XM ultra low account.
XM deposit bonus examples
- The minimum deposit with XM is $5. If you deposit only the min amount you will receive 50 percent of it.
- The maximum amount for the 50% bonus is $1000.
Hence, if you deposit any amount from $5 to $1000 you will receive half of it as a bonus.
How to get the maximum amount of bonus from XM
- Now let’s say you deposit $2000, in this case, you will receive a 50 percent XM bonus on deposit. However, we need to look at it as if you deposited $1000 twice. The first $1000 gets a 50% bonus, so $500. The other $1000 gets a 20% bonus, so $200. In total, you will get a $700 deposit bonus.
- To get the maximum amount of XM deposit bonus you will need to deposit $23,500. We need to divide this into two parts as well. $1000 and $22,500. On the $1000, you get a 50% bonus. On the $22,500 you get a 20% bonus. So in total, you will get $500 + $4500. Meaning that once you deposit the initial $23,500 you will have a grand total of $28,500 on your account.
You can receive an equivalent of $5000 in ZAR, approximately 70,000. Sounds great right? However, before getting excited about all the trades you can open with the XM deposit bonus, let’s see what are the terms and conditions of using it.
As mentioned above, XM deposit bonus withdrawal is not possible as the bonus is for trading. However, the profits made with the bonus money can be withdrawn at any time requested. At the same time, you can withdraw part of your initial deposit as well. But you need to keep in mind that any withdrawal of the profits will result in the proportional removal of the bonus amount as well.
If you have deposited $1000 and got a $500 bonus, your withdrawable balance is $1000 (your initial deposit only)
So let’s say that you decided to withdraw $250 from the initial $1000 you deposited. That is 25%, therefore 25% of the bonus you received, will also be subtracted, $125.
So let’s break it down. With your initial deposit and bonus, you had $1500 on your account. However, when you withdrew $250 of your own funds and an additional $125 was subtracted from the bonus. So in total, you will be left not with $1250, but with $1125 on your account.
You can see more examples below for a better understanding:
How to claim XM deposit bonus
I think that it is already clear how you can get the bonus from XM. First of all, you need to be a customer of the broker and have a real trading account. Once you register your account you need to fund your deposit depending on how much XM deposit bonus you need to receive. Once you deposit the funds, you will apply for the eligible bonus and have it transferred to your account within 24 hours, but it usually takes about 30 minutes.
XM bonus points
Besides the no deposit bonus for beginners and deposit bonus for active clients, XM Forex broker also has XM loyalty program. The program gives you the possibility to earn XM points and earn credit bonuses.
According to the trading habits and tracking records the customers are categorized into four statuses of the loyalty program: Executive level, Gold, Diamond, and Elite.
When you start trading you are on the executive level. If you trade actively for 30 days you will get the Gold status. After 60 days of active trades you will be upgraded to the Diamond level and after 100 days you will get elite status.
On each level, when you are trading you are gaining XM points (XMP) on every standard lot traded. The ratio of the XMP is increasing according to the levels. For example, on the Executive level you gain 10 XMP per lot, on the Gold level you earn 13 XMP per lot, on the Diamond level -16 XMP and finally, on the elite level, you will receive 20 XMP per lot.
How can you use XMP?
XMP is another kind of XM bonus you can get with the broker. They can be redeemed as credit bonuses that should be used for trading. Let’s say you have actively traded for 100 days and got on the elite level and now have 10,000 XM points. You can redeem all of them or only part of them as credit bonuses anytime, without any restriction.
There is a very simple equation of how the XMP works and are redeemed as credit bonuses:
Bonus = XM points/3. Hence, if you have 10,000 XM and decide to redeem 3000 XMP you will receive a $1000 credit bonus to trade with. when you trade with the credit bonus you can withdraw the profits generated from it anytime you want, however as with the XM deposit bonus any withdrawal will result in the proportional removal of the trading bonus.
This system is very good for every trader, with the loyalty program you do not need to make any additional deposit to receive the bonus credits for trading.
XM is truly one of the best bonus systems you can find. With XM deposit bonus you are able to receive an additional 50 percent plus 20 percent bonus and increase your profits when trading with the bonus. The loyalty program makes trading even more enjoyable when you know that with the trades you are earning more and more points that will give you even more bonus to trade with.