How to start trading with XM no deposit bonus
There are a number of different ways you can try to take your Forex trading game to the next level. These include improving your knowledge by reading trading-related books and online tutorials, increasing your experience by trading with demo accounts, and ensuring the safest trading ventures by choosing a trustworthy broker.
One additional aspect of Forex trading that can more or less affect your trading outcome is the Forex bonus. Depending on where you live and where you’re trading Forex, your broker may or may not come with the bonus programs mainly due to regulatory restrictions. And if it does come with such bonuses, then you can start figuring out whether you can trust them or not.
XM welcoming bonus is one of the best opportunities for those who want to start Forex trading with no money. Both beginner and experienced traders are to apply for it. With its 10 years of experience in the Forex market, XM has a reputation as a reliable broker that constantly provides high-quality service to its customers. In the provided XM no deposit bonus review, you will get to know what exactly is a no deposit bonus, how it works, and most importantly, how to claim your free 30 USD today.
XM no deposit bonus description
Just like several other brokers in the Forex trading market, XM is also offering a no deposit bonus to encourage beginner traders to take on trading without risking losing in the beginning. The bonus is for every trader who is eligible for opening a real trading account with XM. All traders who will register with the broker for the first time will receive 30 USD on their account without depositing even a single cent on it. Those who have accounts in different currencies will receive the equivalent of 30 USD, for instance, South Africans opening an account in ZAR will receive 347 ZAR from the broker.
XM 30$ bonus is solely for trading purposes, meaning that individuals who receive it will not be able to withdraw it. Getting no deposit bonus from XM does not give you any financial obligation – if you lose the bonus money completely -that’s absolutely fine. On the other hand, the profits made with the bonus can be withdrawn at any time.
One additional piece of information worthy of mentioning is that the no deposit bonus at XM is only available to South African Forex traders. Unfortunately, traders from other areas cannot access this promotion at the moment.
XM no deposit terms and conditions
As we have mentioned in the following XM bonus review, this promotion does not have any financial obligation from the traders’ side. However, it does have terms and conditions that the trader should be aware of:
- First things first, as it is XM welcoming bonus, only new clients are eligible for it. If you already have an account with XM, unfortunately, you will not qualify.
- The client who wants to claim the bonus should fulfill some basic criteria. An individual should be eligible to trade according to the laws of South Africa – the only country where this bonus is available for now. An individual should not be under 18 years old and should not be considered as a minor in his country of residence. Minors are not able to receive an XM training bonus, since they are not allowed to open a trading account at all.
- New customers are permitted to get XM $30 bonus only once, it is connected to the one and unique IP address, meaning that there can only be one bonus for one IP address. Customers also cannot open several trading accounts with the same registration details to get more than one bonus.
- Transferring the bonus money from one real account to another is not possible. The bonus money can be used for trading on the same account it was initially applied to.
How can you get XM $30 no deposit bonus?
Even the novice traders who are just getting to know the Forex training industry can understand the procedure behind how to claim XM bonus. To claim your %30 bonus, you need to open a real trading account with XM. Once you go to XM’s website, you should head over to the page of promotions where you will see several offerings. Currently, XM is suggesting no deposit and deposit bonuses. You need to choose XM 30 USD no deposit bonus, click “read more”, and the button will transfer you to the bonus page. There you can find full information about the bonus and how it can be used. Now let’s go step by step on how to get the free $30 from XM.
Step #1 – Opening a real account
As our XM global bonus review shows, the first step is opening a real account with XM. You need to fill the registration form that consists of two parts. You need to provide your personal details such as name and surname as it is written in your identity document, country of residence, and preferred language. Your valid email, that you are using and your Phone number. Both of them will be needed for fulfilling the next steps, therefore make sure to provide valid information, otherwise, you will not be able to receive the XM 30 USD free bonus.
The registration form will ask you to make two important choices before you proceed with the registration for Forex trading bonus no deposit. First, you need to select which platform you want to choose. Currently, there are only two trading platforms available with XM – MetaTrader 4 and MetaTrader 5. It is up to you which one you select, but you need to make the choice depending on your trading needs and requirements. If you are not sure about the differences between these two trading platforms do not get confused, there is not a big difference. MT4 is predominantly a Forex trading platform, while with MT5, traders can trade other instruments such as indices, precious metals, and more. If you want to know more about MetaTrader features and the differences between these two, check out the trading platforms review for more details.
You need to select the type of account you want to hold with the XM Forex broker. During our review of the bonus system offered by XM, we have discovered that the account type does not affect the XM deposit bonus. XM is offering five types of trading accounts and you can choose the one based on your needs and trading goals/plans. These accounts are Micro, XM standard account, XM zero, XM Ultra-low micro, and XM ultra-low standard. We will not go into details of the account types here, you can find detailed information about them in XM detailed review.
After finishing the first part of the registration, the next page of the questionnaire will appear. After filling it up, you will be just one step away, as a member of the XM claim bonus. In this step, you need to provide the details of your trading account such as the account currency, leverage, and account bonus. After it, you need to fill in investor information – what is your investment amount in USD, your employment status, and so on.
Step #2 login to the members’ area
Once you are done with the registration process, you need to log in to the member’s area to receive the XM welcoming bonus. You will receive an email from XM on the email address you mentioned while registering. Via email, you will receive your ID for the members’ area. You can reach your trading account with this ID and the password you have indicated in the registration form.
Step #3 validate your XM account
The next step to claiming the Forex trading free bonus no deposit is account validation. It is done very simply without much hassle. Once you log in to the members’ area, you will see the button requesting you to upload your documents for verifications. You need to upload two types of documents on the platform, namely:
1 – ID- a color copy of a valid passport, driver’s license, or any other legal document that proves your identity.
2 – POA – (proof of residence) it can be a bank statement or utility bill that dates within the last 6 months.
It may take a few days until XM approves your documents.
Step #4 claim your XM no deposit bonus
It can be done with just one click on your trading account! And, we have already mentioned this in our review on Forex no deposit bonus offered by XM, the bonus is credited to your account right away.
Step #5 Verify
The last step is verifying your bonus, after which you are good to go! The verification is done by SMS or voice verification. After it is done the broker will transfer the $30 to your trading account. Usually, the transaction takes up to 30 minutes, however in some cases, it might take 24 hours, so do not worry if the money will not appear on your account right away.
You can start trading right after you receive the money. We hope that your trades will be successful and soon you will want to withdraw your profits, so let’s see how it is done and what are the XM $30 bonus terms and conditions.
XM no deposit withdrawal policy
As we have already mentioned, you cannot withdraw the initial deposit money as it is for trading purposes only. Let’s say you have traded for a while, if you want to withdraw the money, the initial amount of XM $30 bonus will be removed proportionally.
To withdraw the money you need to complete at least five round turn trades and the trading account should reach 0,1 standard lots. All of the no deposit bonuses have some kind of trading volume requirements. While some of them can be impossible to reach by beginner traders, the XM Forex bonus trading volume requirement is acceptable and realistic.
Why XM $30 free bonus?
XM free bonus is truly one of the best no deposit bonus offers that is available on the Forex trading market today. The fists thing that speaks well about the bonus is the quality and reputation of the broker itself. As XM is regulated by the most trustworthy regulators in the world there is no possibility of getting yourself in some kind of scam or fraud with the broker. At the same time, it has been operating on the Forex market for ten years now and has well-established and developed services. It is very easy to claim the 30 USD, and most importantly the conditions are well designed for even beginner traders. Hence, if you do not have a long trading experience, you can still be profitable with the XM bonus.