Xm card withdrawal

XM credit cards and electronic payment XM bank wire transfer

XM deposit and withdrawal methods in 2021

In our xm.Com broker review, we described the basic features and offers of this famous forex broker.

In this article, we will analyze only deposit and withdrawal options.
XM is one of the leading foreign exchange (forex) brokers globally, and millions of traders worldwide are using XM for forex trading. Many of these forex traders are investing large amounts of money for forex trading. They would like to find out the XM deposit and withdrawal methods to make a decision accordingly. One of the factors affecting the choice of the deposit or withdrawal method is the country in which the trader is residing. Some payment/withdrawal methods are popular in each country due to several factors, and the trader will usually use that method since the fees will be less. Unless specified, the currencies for the deposit and withdrawal methods are USD, EUR, GBP, CHF, HUF, PLN, AUD.

XM deposit and withdrawal methods are online payment methods that XM forex broker allows for traders. XM.Com deposit and withdrawal methods are credit card, debit card, neteller, skrill, unionpay, bank wire. XM withdrawal options for partners are skrill, neteller, and bank wire.

XM offers payment options for traders, such as:

VISA

VISA electron

Mastercard

Maestro

Diners club international

Unionpay

XM card

Skrill

Neteller

Web money

Bank wire

The minimum deposit for an XM account is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, $10 000 for SHARES accounts.XM minimum withdrawal value is $5 for MICRO and STANDARD forex trading accounts, $50 for ULTRA LOW trading accounts, while for SHARES accounts is $10 000. The minimum deposit value for the XM account and minimum withdrawal for the XM account is related to the type of order and not the payment method. Skrill withdrawal option is one of the most used payment methods, and the minimum deposit for skrill (withdrawal too) is based on account types.

XM deposit methods

How to deposit the XM account? There are several XM deposit options:

XM credit/debit card

XM accepts deposits using credit and debit cards from visa, visa electron, mastercard, maestro. The minimum deposit amount is $5, and the amount is immediately credited to the user’s forex account. There are no fees for using this deposit method. Since most people have a debit or credit card, this deposit method is widely preferred. However, most credit and debit cards have a limit, so the amount which can be deposited is also limited.

XM electronic payment

All the electronic payment methods have no fees and a minimum deposit of $5. Neteller, skrill, and unionpay are some of the electronic payment methods. For neteller and skrill, the amount is credited to the forex account immediately, while for union pay, the deposit will be processed within 24 hours. Cash only accepts USD deposits and przelewy24 accepts PLN deposits, and the amount is instantly credited to the forex account. For bitcoin, deposits in only three currencies, USD, EUR, JPY, are accepted, and it may take up to one hour for the payment to get processed.

XM banking

For sofort banking, deposits are only accepted in eur & GBP. Though the minimum amount is $5, and there are no fees, the deposit processing time will vary depending on the country. For conventional bank transfer of deposit amount in the forex account, at least two hundred USD or equivalent will have to be deposited in the forex account at a time. The fees depend on the bank, which is used. The amount deposited in the bank account will be credited to the forex account within two to five business days.

XM withdrawal review

If a user wishes to withdraw his money from the XM account, they will have to provide the know your customer (KYC) documents, which are specified. These documents are necessary to prevent money laundering according to the various regulatory bodies’ requirements in different countries. XM has an online and offline form where the customer’s personal information and background details have to be provided. This information will help XM in providing better service to their customers.

Compared to deposits, there are fewer withdrawal methods, which are discussed below. Unless specified, the XM user will have to withdraw at least five USD at a time, and there are no fees for withdrawal. The processing time for the withdrawal request is usually 24 hours on working days if the customer has completed the KYC requirements and submitted the documents required. These documents are the identity proof and proof of address of the trader. However, the amount will be credited to the linked bank account, usually only after three to five business working days.

XM credit cards and electronic payment

Visa, visa electron credit and debit cards, maestro and mastercard credit cards can be used for withdrawing funds. Unionpay is another option for fund withdrawal. Similarly, skrill ( earlier called moneybookers) and neteller are electronic payment methods used for fund withdrawal. Bitcoin can also be used for withdrawing the money in the XM account, though funds can only be withdrawn in USD, EUR, and JPY. Usually, credit/debit card withdrawals are given top priority by XM, followed by bitcoin withdrawals and neteller/skrill (e-wallet) withdrawals.

XM bank wire transfer

Many of the forex traders are trading in large amounts, and they prefer to make bank wire transfers to withdraw their profit.

The smallest amount permitted for making a withdrawal to a bank account is two hundred dollars. The withdrawal fees will vary based on the bank selected by the trader. The amount is usually credited to the bank account two to five business days after the withdrawal request is made. XM may process the bank withdrawal requests more slowly. The longest period XM bank wire transfer withdrawal was 5 days in my case in the last 8 years.

XM fund safety

To keep their clients’ funds, the forex traders, safe, XM is taking all measures to prevent unauthorized access to their information systems. All the funds of their clients are segregated and kept with the most reputed banks worldwide. Additionally, XM is also offering negative balance protection to their clients. XM has a risk management system implemented, which will ensure that the trader’s loss will be limited to the amount deposited with XM only.

Forex trading without any deposit

Many people are interested in forex trading yet do not have the money to take the risk. However, it is still possible to get some experience in forex trading without making a deposit.

XM no deposit bonus

To encourage people who are curious about forex trading, XM offers a $30 no deposit bonus to all those who create a new account with XM. This allows the new trader to take the risk of trading without risking his own money. The amount is directly credited to the live trading account and helps the trader understand market conditions.

XM demo account

XM also allows new traders to create a demo or virtual account to trade in forex with virtual money. The trader will be given $50,000 in virtual money for each account created, which he can use for trading, becoming familiar with the features, and testing strategies. A trader can create any number of demo accounts to practice trading. If the demo account is inactive for a long period, it will be deleted immediately.

Withdrawal! Complete withdrawal request within 1 minute!

How to withdraw money on XM group

Withdrawal request from XM group, complete within 1 minute! Very simple

There are different ways to withdraw money such as credit card, debit card, NETELLER, bank transfer, but it should be noted that basically you can not withdraw money using methods other than those used to deposit funds.

This is not just limited to XM group but other foreign forex brokers to prevent money laundering.

Step 1 click “withdrawal” button on my account page

After logging in to my XM group account, click “withdrawal” on menu.

Step 2: select withdrawal options

Select the withdrawal method similar to the deposit method

Credit cards or debit cards can be withdrawn up to the deposit amount.

After withdrawing up to the amount deposited, you can choose to withdraw the remaining amount using whichever method you like.

For example: you deposited 100,000 VND into your credit card, and you make a profit of 100,000 VND after trading. If you want to withdraw money, you have to withdraw 100,000 VND or the amount deposited using credit card, the remaining 100,000 VND you can withdraw by other methods.

Deposit methods	possible withdrawal methods
credit card	withdrawals will be processed up to the amount deposited by credit card. The remaining amount can be withdrawn via other methods
debit card	withdrawals will be processed up to the amount deposited by debit card. The remaining amount can be withdrawn via other methods
NETELLER	choose your withdrawal method other than credit or debit card.
Bank wire	choose your withdrawal method other than credit or debit card.

Step 3 enter the amount you wish to withdraw and submit the request

Enter the amount you wish to withdraw. Note that you should not enter “comma” when entering the amount. Number only

Click “yes” to agree to the preferred withdrawal procedure, then click “request”

Thus, the withdrawal request has been submitted.

The withdrawal amount will be automatically deducted from your trading account. Withdrawal requests from XM group will be processed within 24 hours (except saturday, sunday, and public holidays)

As for credit cards and debit cards, since refunds are handled by card companies, even if XM group has completed the withdrawal request within 24 hours it could take a few weeks to a month to complete the process so, it is recommended that you withdraw the funds in a timely manner.

XMP (bonus) that has been redeemed will be removed entirely even if you only withdraw 1 USD

At XM, a client can open up to 8 accounts.

Therefore, it is possible to prevent the removal of the entire XMP (bonus) by opening another account, transferring the investment amount to this account and using it to withdraw money.

XM facilitates forex withdrawals with branded cards

Cypriot forex broker XM has just launched branded plastic cards that will substantially facilitate the process of funds transfer for owners of real accounts with the company. In their essence, the new cards will allow a fast, safe and free-of-charge transfer of money from your real metatrader 4 account with the broker. With this convenient card, you can instantly withdraw the funds and trading profits from your account.

In addition to the advantage of having a card linked to your MT4 account, you can actually use the card as a traditional debit card – you can get cash at atms, make purchases at physical sell points and online. In case you're a person who has used a card to pay at least once in your life, then you must ask about the locations where the new XM cards are accepted. We have a great piece of news for you: they are accepted across the globe. The XM cards come in three types: XM USD mastercard, XM EUR mastercard, and XM USD shanghai, with the first two kinds of cards working at any ATM or sell point with the mastercard sign, and the third received at all points with the china unionpay logo.

In case you'd like to have one of these cards, which will allow you an immediate access to your trading funds and a very convenient way to manage your finances, you may register for an XM card of your choice at this page. The service will be free of charge for anyone whose MT4 account balance is at least $2,000. The rest of XM's clients should not be disappointed, as they can also make use of the cards for a fee of USD 10 (or EUR 10) for each card.

The move comes after another major move by XM to simplify the withdrawals of funds from trading accounts – in the end of november 2013, the company introduced automatic withdrawals.

The launch of XM cards permits the cyprus-based broker to join a group of forex brokers that offer their customers special debit cards so that traders can make use of a raft of special perks, including faster money transfers and lower fees. For a comprehensive list of these forex brokers, click here.

XM fees explained

All reviews and top lists updated for 2021. Check out the annual brokerchooser awards.

Overview of XM fees and charges

It's safe to say that XM's fees are low in general. They either don't charge a brokerage fee for things other brokers do charge for, or they only charge a small amount. This means that you can use XM even in case you trade frequently like multiple times a week or daily.

Here's a high level overview of XM's fees

XM fees snapshot

assets	fee level	fee terms
US stock fee	-	available only for clients onboarded under IFSC. The commission is 0.04% with a $1 minimum.
EURUSD fee	average	with standard, micro, and ultra-low accounts the fees are built into the spread. 1.7 pips is the standard account's average spread cost during peak trading hours. With XM zero accounts, there is a $3.5 commission per lot per trade and a small spread cost.
US tech fund fee	-	not available
inactivity fee	low	$15 one-off maintenance fee after one year of inactivity, followed by $5 per month fee if the account remains inactive.

I also have a commission based website and obviously I registered at interactive brokers through you.

Especially the easy to understand fees table was great!

XM fees
XM fees explained

Online brokerages in general charge much lower brokerage fees than traditional brokerages do - this is largely due to the fact that online brokerages' businesses can be much better scaled: from a purely technical standpoint it doesn't make that much of a difference for them if they have 100 or 5000 clients.

This is not to say however that they don't have any fees at all. They make money by charging you at various events for various rates. Usually you need to keep an eye on these 3 types of fees:

Trading fees - these are brokerage fees that you pay when you actually do a trade, i.E. Buying an apple stock or an ETF. What you pay is either a commission, a spread or financing rate. Some brokers apply all of these.
- A commission is either based on the traded volume or it is fixed.
- A spread is the difference between the buy price and the sell price
- Financing rate or overnight rate is charged when you hold your leveraged positions for more than one day.

Non-trading fees. These occur related to some operations you make in your account, i.E. Depositing money to your account, withdrawing money from it or not trading for an extended amount of time.

We compare XM fees with its closest competitors, XTB and etoro.

XM fees
XM trading fees

XM's trading fees are mid-tier which means you need to pay special attention to asset classes with high trading fees.

Let's break down the trading fees into the different asset classes available at XM.

Trading fees

XM's trading fees are low.

It is super hard to compare trading fees for CFD brokers. What we did at brokerchooser? Instead of quoting long fee tables, we compare brokers by calculating all fees of a typical trade for three assets.

For the assets we chose cleverly and arbitrarily:

Apple, a large US stock

Vodafone, a large european stock

EURUSD, a popular currency pair

The typical trade means buying a position, holding for one week, and selling it. For the volume we chose a $2,000 position for the stocks and $20,000 for the EURUSD.

This super catch-all benchmark includes spreads, commissions and financing costs for all brokers.

XM fees benchmarked

XM	XTB	etoro
apple benchmark fee	$6.4	$17.3	$6.7
vodafone benchmark fee	$1.2	$20.8	-
EURUSD benchmark fee	$9.5	$8.3	$8.8

Financing rates

XM financing rates are low.

If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.

XM yearly financing rates

XM	XTB	etoro
apple CFD financing rate	3.2%	2.6%	6.5%
vodafone CFD financing rate	3.1%	2.5%	-
EURUSD financing rate	1.7%	1.7%	1.9%
EURGBP financing rate	1.6%	1.5%	2.2%

Want to stay in the loop?

Members area access

Use your MT4/MT5 real account number and password to log in to the members area.

New to XM?

Legal: this website is operated by trading point of financial instruments limited with registered address at 12 richard & verengaria street, araouzos castle court, 3rd floor, 3042 limassol, cyprus.

Trading point holdings ltd is the holding company of trading point of financial instruments limited, XM global limited, trading point of financial instruments UK limited, trading point of financial instruments pty ltd, trading point MENA limited.

Trading point of financial instruments limited is authorised and regulated by the cyprus securities and exchange commission (licence number: 120/10).
XM global limited is authorised and regulated by the international financial services commission (IFSC) (000261/106).
Trading point of financial instruments UK limited is authorised and regulated by the financial conduct authority (FRN: 705428).
Trading point of financial instruments pty ltd is authorised and regulated by the australian securities and investment commission (AFSL 443670).
Trading point MENA limited is authorised and regulated by the dubai financial services authority (DFSA) (reference no. F003484).

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.04% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money. Please consider our risk disclosure.

Trading point of financial instruments limited provides investment and ancillary services to residents of the european economic area (EEA) and the united kingdom.

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We use functional cookies to analyse how visitors use our website, as well as track and improve our website’s performance and function. This allows us to provide a high-quality customer experience by quickly identifying and fixing any issues that may arise. For example, we might use cookies to keep track of which website pages are most popular and which method of linking between website pages is most effective. The latter also helps us to track if you were referred to us by another website and improve our future advertising campaigns.

Another use of cookies is to store your log in sessions, meaning that when you log in to the members area to deposit funds, a "session cookie" is set so that the website remembers that you have already logged in. If the website did not set this cookie, you will be asked for your login and password on each new page as you progress through the funding process.

In addition, functional cookies, for example, are used to allow us to remember your preferences and identify you as a user, ensure your information is secure and operate more reliably and efficiently. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences, such as which language you wish to see when you log in.

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XM review 2021

All reviews and top lists updated for 2021. Check out the annual brokerchooser awards.

🏆 top 5 stock brokers

🏆 top 5 forex brokers

Summary

Recommended for forex and CFD traders who prefer metatrader platforms and seek great account opening

XM is an online broker whose parent company is trading point holding, a global CFD and FX broker founded in 2009.

XM is available globally and is regulated by three financial authorities: the cyprus securities and exchange commission (cysec), the australian securities and investments commission (ASIC) and the international financial services commission of belize (IFSC).

Disclaimer: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.04% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

XM pros and cons

XM has low stock CFD and withdrawal fees. Account opening is user-friendly and fast. You can use many educational tools, such as webinars and a demo account.

On the other hand, XM has a limited product portfolio as it offers mainly cfds and forex. Its forex and stock index CFD fees are average, and there is no investor protection for clients onboarded outside the EU.

Pros	cons
• low stock CFD and withdrawal fees	• limited product portfolio
• easy and fast account opening	• average forex and stock index CFD fees
• great educational tools	• no investor protection for non-EU clients

XM main features and highlights

��️ country of regulation	cyprus, australia, belize, united arab emirates
�� trading fees class	average
�� inactivity fee charged	yes
�� withdrawal fee amount	$0
�� minimum deposit	$5
�� time to open an account	1 day
�� deposit with bank card	available
�� depositing with electronic wallet	available
�� number of base currencies supported	11
�� demo account provided	yes
��️ products offered	forex, CFD, real stocks for clients under belize (IFSC)

Author of this review

Ádám nasli

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

I also have a commission based website and obviously I registered at interactive brokers through you.

Especially the easy to understand fees table was great!

XM review
fees

XM has low trading fees for cfds and charges no withdrawal fee. On the other hand, forex and stock index fees are only average, and there is a fee for inactivity.

Pros	cons
• no withdrawal fee	• inactivity fee
• low stock CFD fees	• average FX fees

XM fees snapshot

assets	fee level	fee terms
S&P 500 CFD	average	the fees are built into the spread, 0.7 points is the average spread cost during peak trading hours.
Europe 50 CFD	average	the fees are built into the spread, 2.6 points is the average spread cost during peak trading hours.
EURUSD	average	with standard, micro, and ultra-low accounts the fees are built into the spread. 1.7 pips is the standard account's average spread cost during peak trading hours. With XM zero accounts, there is a $3.5 commission per lot per trade and a small spread cost.
Inactivity fee	low	$15 one-off maintenance fee after one year of inactivity, followed by $5 per month fee if the account remains inactive.

How we ranked fees

We ranked XM's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.

Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of XM for each asset class. For example, in the case of forex and stock index trading, spreads, commissions and financing rates are the most important fees.

We also compared XM's fees with those of two similar brokers we selected, XTB and etoro. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of XM alternatives.

To have a clear overview of XM, let's start with the trading fees.

XM trading fees

XM trading fees are average. XM has many account types, which all differ in pricing. The standard, micro, and ultra low accounts charge higher spreads but there is no commission. The XM zero account charges lower spreads, but there is a commission. The following calculations were made using the standard account.

We know it's hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compared brokers by calculating all the fees of a typical trade for selected products.

We chose popular instruments within each asset class:

Stock index cfds: SPX and EUSTX50

Stock cfds: apple and vodafone

Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

A typical trade means buying a leveraged position, holding it for one week and then selling. For volume, we chose a $2,000 position for stock index and stock cfds, and $20,000 for forex transactions. The leverage we used was:

20:1 for stock index cfds

5:1 for stock cfds

30:1 for forex

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for XM fees.

CFD fees

XM has low stock CFD, while average stock index CFD fees.

XM CFD fees for a $2,000 long position held for one week

XM	XTB	etoro
S&P 500 index CFD fee	$1.6	$1.4	$1.5
europe 50 index CFD fee	$2.4	$1.8	$2.7
apple CFD fee	$6.4	$17.3	$6.7
vodafone CFD fee	$1.2	$20.8	-

Forex fees

XM's forex fees are average compared to its competitors.

XM forex benchmark fees of a $20,000 30:1 long position held for one week

XM	XTB	etoro
EURUSD benchmark fee	$9.5	$8.3	$8.8
GBPUSD benchmark fee	$8.4	$6.0	$8.5
AUDUSD benchmark fee	$10.3	$6.5	$8.2
EURCHF benchmark fee	$9.7	$8.9	$12.6
EURGBP benchmark fee	$10.5	$8.4	$12.3

Real stock fees

Clients onboarded under IFSC can also trade real stocks using the shares account.

The real stock fees are lower than XTB's, but lag behind etoro's commission-free real stock offers.

Stock and ETF commission of a $2,000 trade

XM	XTB	etoro
US stock	$1.0	$10.0	$0.0
UK stock	$9.0	$12.0	$0.0
german stock	$5.0	$12.0	$0.0

The commissions are volume-tiered with a minimum fee.

XM stock commission

stock market	commission	minimum commission
USA	$0.04 per share	$1
UK	0.10%	$9
germany	0.10%	$5

Non-trading fees

XM has average non-trading fees. There is no account fee and XM charges no withdrawal fee in most cases, though bank withdrawals below $200 carry a $15 fee.

There is a $15 one-off maintenance fee after 1 year of inactivity, and this is followed by a $5 monthly fee if the account remains inactive.

My withdrawal from XM

Matome

Recruit

Scamxposr

Sergeant

Sorry to hear.
Email them everyday and draw attention to your case every way possible.

Yes, even XM is a scam company.

Pro tip: if it's not you bank, it's a scam!

Or if they aren't regulated in your country, with a know address your actually aware of. Most international e brokers are scams.

Keep the pressure of XM and also retitle this thread to include XM.Com in the title to draw more attention to your issue.

Matome

Recruit

4evermaat

2nd lieutenant

XM (xemarkets, trading point, etc) has been scamming people for quite some time now.

Invite XM.Com to this thread using 2 different methods (email, live chat, FPA forum representative, etc)

If you do not get a resolution to your problem within a few days, then I suggest you file an FPA trader's court case.

BTW, how much was the amount of withdrawal?

Fxmaster

Lt. Colonel

Few steps that you must follow to draw their attention to your issue,
follow the suggested steps below:
invite them to join this thread via email (send an email to every possible address).
Go to their website and invite them to here via live chat
you will find their email and address here https://www.Xm.Com/support

You can also share your story on their social media pages mentioned below:
https://www.Facebook.Com/xmglobal

Fxmaster

Lt. Colonel

Matome

Recruit

XM (xemarkets, trading point, etc) has been scamming people for quite some time now.

Invite XM.Com to this thread using 2 different methods (email, live chat, FPA forum representative, etc)

If you do not get a resolution to your problem within a few days, then I suggest you file an FPA trader's court case.

BTW, how much was the amount of withdrawal?

The reaper of F

Sergeant

In the past, XM had been known for its fairly/transparency dealing with their respective clients. Nowadays, it's just another scam broker operating internationally to entice new clients to deposit more.

Three red flags.
A solid broker wouldn't offer (free trading bonus).
A solid broker would not delay its client withdrawals and will most of time making up for the mistakes made. (such as free additional margin, VPS or perhaps a live VIP webinar).
A solid broker will be operating with extremely strict regulators such as the FPA, ASIC, mifid. (if you ever see a broker operating with cyprus. Just get your bag and run as fast as possible).

Chris zacharia

XM.Com representative

It is not fair to be calling a licensed and regulated forex broker a scam and to be posting faulty information and hiding the truth. This is NOT ethical towards other traders and is totally unacceptable.

Kindly note that XM accepts no deposits from any third party. Payments can only be made from an account that has the same name as the one on your XM trading account. Any funds from a third-party account will be returned regardless of losses/profits incurred.

This applies to your case, your payment is categorized as a third party payment and as such we have returned back all your funds to the source of the original deposit in accordance with our withdrawal procedure policy.

Forex brokers with best money withdrawal options in 2020

The best and most exciting thing about forex trading is, of course, to withdraw your profit from the forex broker. Say you have been trading, made a considerable amount of profit and now you want to spend your profit. In order to be able to do it, first you have to get your money back from the broker. To withdraw money from your forex account is very straightforward in general but does require you to take few steps.

Forex brokers with best money withdrawal options

Forex.Com

Forex.Com is owned and operated by an industry giant; GAIN capital holdings who has been around for more than 20 years. Forex.Com is registered and regulated by CFTC, NFA and CIMA. The broker accepts clients from the US. Investors can deposit and withdraw funds by credit card, bank card and wire transfer. Digital wallets are going to be available soon.

Money withdrawal options: credit card, bank card, wire transfer

XM

XM puts more than ten methods of deposit and withdrawal under disposal of its clients. In addition to international bank transfer and credit card which has become industry standards as deposit and withdrawal methods, XM clients can use various other methods. Those methods include neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort and western union. One important detail which makes XM even more favorable is that the broker covers international wire transfer commission of its own part which considerably reduces the withdrawal cost.

Money withdrawal options: wire transfer, credit card, neteller, skrill, unionpay, web money, ideal, moneybookers, moneygram, sofort, western union

Fxpro

Regulated by FCA,cysec and SCB, fxpro is headquarted in london and one of the most prominent forex brokers in the industry. Traders who open an account at fxpro can withdraw and deposit funds through credit card, international bank transfer (SWIFT), paypal, skrill, neteller and china unionpay.

Money withdrawal options: wire transfer, credit card, paypal, skrill, neteller, unionpay

Hotforex

Established in 2010 and headquartered in cyprus, hotforex is an award winning forex broker that offers a wide range of account types and trading instruments. The broker is pursuing a policy of providing the most convenient and advantageous trading conditions for the traders. You can deposit money in hotforex using credit or debit cards and bank wire transfers. Apart from that hotforex also accepts skrill, neteller, fasapay, sofort, mybitwallet, ideal and webmoney.

Money withdrawal options: wire transfer, credit card, skrill, neteller, fasapay, sofort, ideal, webmoney, bitcoin

Exness

Exness was founded in 2008 in russia and has grown into one of the most popular forex brokers in europe since then. The company is regulated by cysec in cyprus and FCA in UK. Having a wide array of payment methods, transacting money on this brokerage platform is pretty easy and quick.

Money withdrawal options: wire transfer, credit card, skrill, neteller, webmoney, perfect money, sticpay, jeton wallet

Choose the withdrawal option

When it comes to withdraw your profit from forex brokers, the methods are not scarce including credit card, wire transfer, paypal, neteller, skrill, western union, bitcoin to name a few.

I usually go with wire transfer when withdrawing my profit. Nevertheless it comes with some caveats. Wire transfer is recommended if only you are going to withdraw an amount over a thousand. Otherwise the bank transfer fees are going to eat up your hard earned profit. Bear in mind that when you choose to get your money back through wire transfer, you are going to get double charged (once by the bank in where your forex broker is located and again by your local bank). The fees could range from $50 to $100 in total. The certain amount completely depends on the bank the broker is working with and your local bank. International wire transfer fees charged by some US banks are explained in this article.

My second favorite option to withdraw funds from forex account is credit card. Again there are some caveats. Some forex brokers don’t allow you to withdraw more than what you deposited with the same credit card. When you deposit $1000 to your forex account using credit card, you can only withdraw an amount up to $1000 by the same card. So you will have to choose another withdrawal method to transfer your profit.

Though I haven’t used so far, other popular methods are digital wallets like neteller, skrill, paypal. Forex brokers don’t charge extra fees to withdraw money by digital wallets however those services apply their own fees when you want to transfer money from the wallet to your bank account.

Submit your withdrawal request

After you decided the best transfer option for you, you have to submit your withdrawal request. Forex brokers used to demand clients to print out a withdrawal form then fill, sign and forward it to the broker by mail or e-mail.

However nowadays you don’t have to go through this cumbersome process. Majority of the forex brokers provide clients with a username and password for the client portal where they can submit their money withdrawal request in just seconds.

Just log in to the client portal, navigate to the money withdrawal section, fill the online form and click the submit button. Congratulations!

An important caveat is that some forex brokers do not require clients to verify their account till to the point they wish to withdraw funds from their account. If this is the case for the broker that you are trading with, you will need to verify your forex trading account by loading proof documents for ID and address. However, you will have always the chance to verify your account upon registration in case you do not want to worry about the last minute rush.

Wait until your fund is transferred to your bank account / credit card / digital wallet

It ranges between one to three business days depending on the forex broker and withdrawal option you used. Wire transfer and credit card transfers could take up to three business days. Though I remember several times that I received the funds same day when I used wire transfer as the transfer option. The commission and fees are not fixed for wire transfer. Since there are three banks involved at a wire transfer transaction, it is hard to know the exact amount that is going to be charged as commission. However, based on my experience, I can say that it should range between $30 and $100.

Digital wallets such as skrill and neteller has a different commission and time schedule. First time you incur any commission is the moment you withdraw funds from your trading account. The rate changes between %3 and %2 of the amount you like to withdraw. It takes fews days between the time that money leaves your trading account and arrives at your digital wallet. Second time you will get charged is the moment you transfer the money from your skrill account to your bank account. That is another %3 – %2 commission.

Wire transfer is my preferred withdrawal and deposit method. I use digital wallets only if wire transfer is not among the methods offered by the forex broker. Credit card is fast and more reasonable than any other withdrawal and deposit method. Nevertheless, I shall kindly point out that in the case you choosed credit card as a withdrawal method, you can only withdraw the amount you deposited by the same credit card. Therefore, you will have to use another method in order to be able to withdraw your profit.

XM deposit and withdrawal malaysia (local bank, credit cards, e-wallets)

The award-winning forex broker, XM malaysia, is proud of its dedication to satisfying the customers. To that end, the company provides simple and convenient deposit and withdrawal methods through a wide variety of payment systems, including e-wallets (online payment services), credit cards, and local bank transfers in malaysia.

If you are going to join XM malaysia, you might be wondering how to properly deposit money into or withdraw from your account when you have reached a significant amount of revenue later.

No worries. Hereвђ™s a step-by-step tutorial on how to make deposits and withdraw funds from your XM malaysia trading account.

How to deposit money into your XM account

6. You will then be redirected to the login page of your online payment system (skrill, in above example). Login to your e-wallet account to complete the process.

Note: several online payment systems will charge a certain amount of fee for processing your transaction. However, XM malaysia will cover these fees, so you will still receive your funds in full amount.

Рџ‘Ќ deposits via credit cards:

1. If you want to deposit your money via credit cards, click on the вђњdepositвђќ button under вђњcredit/debit cards.Вђќ

2. Input the amount that you want to deposit and then click on the вђњdepositвђќ button. Please remember that the minimum amount of deposit depends on your account type.

4. Click on вђњpay now,вђќ and your money will be instantly deposited into your account.

Note: please make sure that your credit or debit cards are registered under the same name as the one in your XM account. XM malaysia does not charge any commission for deposits made via credit or debit cards.

How to withdraw money from your XM account

First, you need to validate your XM account by providing your national identity card (ID). After your account is verified, proceed to do the following steps:

1. Login to your XM members area.

2. Click on the вђњwithdrawalвђќ button of your home page, as shown below:

Note: on the withdrawal page, some of you MIGHT NOT see the option of withdrawal via credit/debit cards. That is because this option only appears if you have previously deposited money using the credit card method.

Рџ‘Ќ withdrawals using online payment systems:

1. Click on the вђњwithdrawвђќ button under your selected online payment system.

3. Click on the checkbox to sign the withdrawal agreement, then click on the вђњrequestвђќ button, and your withdrawal request will be processed within the system.

4. When your application is confirmed, you will receive a notification via email. You can also monitor your withdrawal requests and financial transactions via account history.

Рџџў XM will process your withdrawal request back to the source of your original deposit.

Рџџў withdrawals via credit cards can only be requested up to the deposited amount. Therefore, if you want to withdraw more money, you need to choose other payment methods you have used for funding your trading account.

Рџџў the minimum withdrawal amount using online payment systems starts from 5 USD, depending on your payment system and trading account.

Рџџў your withdrawal request will be processed within 24 hours, on business days. (XM usually processes it within a couple of hours)

Рџџў all withdrawal fees will be covered by XM.

XM malaysia local bank deposit and withdrawal

XM also offers deposit and withdrawal methods via local bank transfer at the top 5 largest banks in malaysia, namely CIMB, hong leong, maybank, public bank, and RHB bank.

If you choose to conduct your financial transactions using local bank wire transfer, you need to prepare an active internet banking account. You will also need to check and confirm that the name of the bank account holder is the same name registered in your trading account. Only then, you can follow the tutorial below:

Рџ‘Ќ deposits via local bank in malaysia:

1. Login to your XM trading account and open your members area.

2. Click on the вђњdepositвђќ button of your home page.

3. Click on the вђњdeposit hereвђќ button under вђњonline bank transfer.Вђќ

4. Choose the name of your bank (CIMB bank, hong leong bank, maybank, public bank, RHB bank) in the drop-down menu.

5. Type the amount of money you want to deposit in MYR or USD.

6. Click on the checkbox to agree with the deposit agreement and click the вђњdepositвђќ button to continue to the confirmation page.

7. Recheck your deposit information, click on вђњconfirmвђќ, and you will be redirected to the bank payment page. Log in your internet banking account and make the payment. Your deposit will be processed instantly to your XM account.

Note: XM does not charge any commission for deposits using this payment method.

Рџ‘Ќ withdraw via local bank in malaysia:

1. Login to your XM members area.

2. Click on the вђњwithdrawalвђќ button of your home page.

3. Click on вђњwithdrawвђќ under вђњonline bank transfer.Вђќ

4. Select the name of your bank in the drop-down menu.

5. Enter your bank account information , and input the amount of money you want to withdraw in USD. The minimum required amount is 15 USD .

6. Click the checkbox to sign the withdrawal agreement.

7. Click on вђњ pengajuan вђќ and your withdrawal request will be processed by the system within 24 hours, on business days .

Note: if your withdrawal request is confirmed, XM will send a notification via email . Remember, you can always monitor your requests and financial transactions in your account history. XM covers all transaction fees for the bank wire transfer (for amounts over 200 USD ).

That is all, make sure that you choose the best method to fund and withdraw money at XM malaysia , so your trading experience is more convenient.