Xm maximum withdrawal

METATRADER 4 MT4 is always a good reminder of just how far the industry has gotten.

This platform holds the popularity title for many a reason: advanced charting tools, custom indicators, expert advisors and more. MT4’s VPS allow for seamless automated trading at all times, uninterrupted by computer failures, sudden power cuts or connectivity issues.

Recommended broker

XM is the brand name of trading point holdings limited. They own four subsidiaries, each with their own license.

In cyprus, XM is licensed by cysec. This regulatory body is authorized to work by the governing laws of cyprus when investigating broker firms. Cysec covers its clients’ funds with the ICF which permits for a compensation of up to €20 000 to be paid to traders in case the broker fails to pay its dues.

In australia, XM is certified by ASIC. As most regulatory bodies do, ASIC aims to enforce laws concerning the financial markets, and strives to deliver good investment environment.

XM is also regulated in the mesoamerican country of belize by their respective body: the international financial services commission (IFSC). Their main goal is to promote belize as a financial offshore center while also providing the appropriate regulatory measures to support said endeavor.

The average EUR/USD spread at XM is 1.6 pips, and goes as low as 0.1 pips for XM zero account (plus commission- read below). The leverage can go as high as 1:500. However, due to ESMA introduced laws the leverage in the UK and EU has been limited to 1:30.

XM provides a rich choice of assets, making sure that almost every taste is met accordingly. These are: forex cfds, commodities cfds, equity indices cfds, precious metals cfds and energies cfds.

Expanding XM even further is the baffling volume of languages available: english, australian english, russian, italian, polish, japanese, thai, czech, malaysian, greek, indonesian, swedish, arabian, portuguese, filipino, bengali, chinese, hungarian, french, german, spanish, vietnamese and dutch.

The inclusion of the two most popular trading platforms- MT4 and MT5- is not surprising.

METATRADER 4

MT4 is always a good reminder of just how far the industry has gotten. This platform holds the popularity title for many a reason: advanced charting tools, custom indicators, expert advisors and more. MT4’s VPS allow for seamless automated trading at all times, uninterrupted by computer failures, sudden power cuts or connectivity issues.

Average EUR/USD spread is 1.6 pips, and 0.8 pips for the XM zero account (including commission). Due to ESMA the UK and EU are limited to provide a leverage no bigger than 1:30. Offshore subsidiaries of trading point holdings limited are not bound by this rule and can afford a max leverage of 1:500.

XM zero account holders will be commissioned by $3.5 per side (7$ round turn) for every standard lot ($100 000), in turn changing the minimum cost of trading from 0.1 pips to 0.8 pips.

Besides the desktop version of MT4, there is also a neat web based alternative (no trading bots though). Get direct access to MT4 on virtually any device (mobile or tablet) operating with an android or ios operating system.

METATRADER 5

Offering more in pure quantity than MT4, MT5 has still a hard time replacing its predecessor mostly due to the fact that MT4 is universal, and essentially used by every online broker. Nevertheless, MT5 allows for full expert advisor support, has a built in economic calendar, more pending orders are available, has increased time-frames, and much more. Virtual private servers can be utilized as well.

The spread has not changed: with standard account it is 1.6 pips for EUR/USD. By adding the commission to the 0.1 pip spread for XM zero, account holder will get an actual spread starting from 0.8 pips.

In the UK and EU the leverage has been set by ESMA to 1:30 max. Outside of the EU and UK expect the leverage to be as high as 1:500.

The means of access to MT5 are various: desktop, web based platform, ios and android apps.

XM MINIMUM DEPOSIT

The minimum deposit is $5, and $100 if you’re using an XM zero account.

The broker purposefully retains payment methods information from non-deposited traders. From what we gathered, after extensive digging in the website and long customer support chat sessions, XM group is accepting multiple local payment methods including credit/debit card, skrill, bank wire transfer, etc. The full list of payment methods can be seen in user’s member’s area once an account is registered.

The base currencies at XM are: USD, EUR, GBP, CHF,‎ AUD, HUF, PLN.

Wire transfer users will have to wait 2-5 days for their XM accounts to be funded. Card methods and ewallet deposits are instant.

The broker offers free of charge deposits for all methods except those made by wire transfer. If such is the case anything below a $200 (or other currency) will be billed with a commission by the broker.

XM WITHDRAWAL TIME AND FEES

Cysec regulations guarantee that all withdrawals will be safe and secure.

As mentioned above, payment methods are vague and unspecified unless you open an account. What we got from our own research is that XM group is accepting multiple local payment methods including credit/debit card, skrill, bank wire transfer, etc.

All withdrawals are processed within 24 hours. Users of XM card or any ewallet methods will receive their money on the same day the request has been processed, while wire transfer and credit/debit card user will have to wait 2-5 working days.

The minimum withdrawal amount is $5. However the amount does vary depending on the payment methods. And as specified, without an account you cannot see all available methods of payment.

XM covers the fee for wire transfer for 200$ withdrawal and above. Anything below will not be covered by XM and can be burdened with a fee by the client’s bank of choice. All other withdrawal methods are free of taxes.

BOTTOM LINE

XM is massive in both quantity and quality. The regulations mean business, but also security for clients, while the amount of content is, quite frankly, impressive to say the least.

However every rose has its thorns. In XM’s case it’s the commission for XM zero account holders, and the withheld information on deposits and withdrawals.

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.

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.

Xm maximum withdrawal

An impressive organisation putting their money into some big brand exposure activity, sponsoring the worlds fastest man, usain bolt. A lot of bonuses and competitions to take part in, making XM one of the highest recommended brokers on our list. Very friendly for new traders with an extensive education / learning section.

Sleek, modern appeal for the “new age” trader

I stumbled across XM forex trading by way of a banner advertising a million dollar forex trading competition. After visiting the website, I was impressed by the very modern feel, they look very much like a forex broker targeting the younger generation.

On their website they also proudly display their sponsorship of usain bolt which couldn’t have been cheap. I always take notice of companies that engage global superstars as brand ambassadors because the truth is, these types of relationships are very much controlled and dictated by the celebrity. A personality like usain bolt has a huge reputation to uphold, countless sponsorship offers and is a mega brand in itself so they would have taken great care in only selecting reputatble businesses to promote. Therefore, XM receives a big boost of credibility in my books.

Opening my account

Very straight forward. Enter details, confirm an e-mail, login and I was requested to upload ID documents through their website. All went smoothly. Within 24 hours, I had a call from my account manager who introduced herself and let me know that I can get in touch with her at any time for assistance. Within another 24 hours, my documents were all verified and I was ready to go.

The million dollar competition

In truth, I signed up so that I could take part in the million dollar trading challenge. Of course I must open an account at many brokers so that I can report here for this website.

The competition details can be found at www.Xm.Com/forex-world-championship/overview but in short, there are 10 rounds of play, each round lasting a calendar month. You start with $10,000 virtual currency and try to make it into the top 5. There are cash prizes for finishing in the top placings each month and the top 5 places gain entry into the semi finals. The winner of the grand final wins a cool $150,000. Not bad for a free game based on skill as well.

Newbie friendly

XM have done everything so well to attract what I would call “new age” traders (people in their 20’s, disposable income, looking for a challenging investment) and ensure that the biggest hurdle for any new trader, education, is covered from top to bottom. The market is tough to grasp so a lot of people need some guidance in understanding all those terms, the charts, the patterns, etc. Sure you can have random fun with a $100,000 demo account but at the end of the day, discplined trading follows a strategy and without anything to learn from, it makes it difficult to want to jump in to real money trading.

Traders of any level should feel extremely comfortable working through the extensive education section at XM.

Key benefits of trading with XM

Real-time market execution with no re-quotes and no rejection of orders

16 MT4- and MT5-based platforms for seamless trading operations

The same fair trading conditions for every client

Personal account managers in over 30 languages

Free trading signals in over 25 languages

Free live webinars in over 16 languages

Daily technical analysis and market reviews in multiple languages

Regular on-site seminars in various countries in the world

All XM bonuses and promotions are subject to terms and conditions, including different bonus amounts and limited availability in some countries. Please check the eligibility rules on the website for more information.

Deposit	bonus amount	bonus code
$0	$30	none required
up to $1000	up to $500	none required
up to $23,500	up to $5000	none required

**$30* no deposit bonus**

Open a new account with XM and receive $30 or the equivalent in your chosen currency without making a deposit. The money is automatically credited to your account. The bonus can’t be withdrawn but any profits you make can be withdrawn. An excellent way to get started trading real money without having to put up your own. Highly recommended.

**Up to $5,000* in deposit bonuses**

You can receive up to $5,000 (or your currency equivalent) in additional bonus funds through a 2 tier deposit bonus system. You will receive a 50% bonus on your deposit up to a maximum of $500, then 20% on any amount over to make up to another $4,500 in bonuses. In other words, if you deposited $5,000 you would receive:

50% bonus on your first $1,000 which would give you $500 bonus funds and reach the limit of the first tier

20% bonus on your remaining $4,000 which would give you $800 bonus funds

Your total account balance therefore would be $6,300 (your $5,000 deposit + $500 bonus + $800 bonus)

So this means to receive the maximum $5,000 bonus you would need to deposit $23,500 which is broken down as follows:

The first $1,000 gives you a 50% bonus which is $500

The remaining $22,500 gives you a 20% bonus which is $4,500

Together, the bonus amount is $5,000 on your deposit of $23,500

Our opinion is that this is the best value bonus available right now from the reputable brokers.

Loyalty reward points

You can earn loyalty points through every trade and convert them to bonus funds. Points can be earned from even the smallest micro lot transactions so this is a great way to build up additional credit as you trade.

This ensures that as a client of XM you are consistently rewarded for trading, regardless of whether you are winning or not.

XM regulation & licenses

Where is XM regulated?

XM is authorised and regulated in 3 countries: australia (ASIC), cyprus (cysec) and the united kingdon (FCA).

You can view the licenses: ASIC, FCA, cysec

With australia and the UK both having very strong reputations as stable, first world countries, you can be assured that your dealings with XM are safe and secure.

Furthermore, XM is registered in 10 european countries including germany, spain, italy and france.

Our opinion is that XM is undoubtedly one of the leading forex brokers in the global market.

Minimum & maximum deposits / withdrawals

XM deposits summary table

deposit method	minimum	maximum	fees
credit card, neteller, skrill	5 USD	varies by method	XM
bank wire	200 USD	varies by bank	sender pays bank wire fee

XM minimum deposit

The minimum deposit at XM is 5 USD or the equivalent in any other currency when depositing via credit card or electronic payment (neteller or skrill). All fees are covered by XM. If you are depositing by bank wire, the minimum is 200 USD or the equivalent in any other currency. Fees in this case are only covered on the receiver’s side. You will have to pay whatever your bank charges you for a wire transfer.

XM maximum deposit

The maximum deposit at XM will generally be limited by your deposit source. Bank transfers are the best option if you wish to deposit a large sum of money for your trading account.

Please note that deposits can only be made from account in the same name as your trading account.

Paypal does not appear to be an option for depositing at XM.

XM withdrawals summary table

withdrawal method	minimum	maximum	fees
credit card, neteller, skrill	5 USD	varies by method	XM
bank wire	200 USD	varies by bank	XM pays bank wire fee

XM withdrawals

The minimum withdrawal methods and amounts are exactly the same as deposits. Once again, XM cover fees and do not charge any fees for withdrawals. This is why we believe that XM are one of the best forex brokers.

XM bad reviews

Is XM a scam?

Our verdict is NO. We found that XM representitives were very prompt in replying to all claims made through popular online forex forums. The result of most cases involved customer fraud – people opening multiple accounts, claiming multiple bonuses or not understanding the terms and conditions of trading. We also saw some cases where XM appeared to be at fault, but they were all resolved properly by XM.

We are satisfied that XM handles complaints efficiently. There are no obligations for any forex broker to participate in 3rd party forums but XM make an effort to be available and that’s a very big positive.

What is trust score?

This is a rating out of 100 which we calculate for each broker based on a combination of factors, all of which you will find below on the scorecard.

Every broker starts with a base score of 100 and we subtract points according to what criteria they match in each category.

Whilst trust score provides a good insight into the broker’s reputation, our overall rankings are based off our own thorough reviews plus the user reviews. Therefore, brokers with a high trust score aren’t always guaranteed to be ranked at the top.

XM scorecard – 99 / 100

Major sponsorships: the fastest man on the planet, usain bolt is sponsored by XM. This provides a large credibility boost for this broker as usain bolt would only be associating himself with brands that can further enhance his reputation.

XM group review

28 october 2020 - kate leaman

With multiple licenses from top-tier regulatory bodies, our XM group review reveals a respected and reliable broker with over a decade of experience. Launched in 2009, XM group is a great choice for all types of traders as it offers a wide range of instruments, extensive research tools, and five different account types. XM group has also won multiple awards, including ‘best FX broker for europe 2020’.

1,200+ available instruments

Free educational materials

Licensed by FCA

Best broker for forex trading beginners

Only supports MT4 and MT5

XM group overall scores

In this review, you can find all the information you need to decide whether XM group is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how XM group scored in each of our high-priority categories.

XM DEPOSIT AND WITHDRAWAL SYSTEM

XM is one of the biggest forex brokers in the world, especially in asia. The reason why there are so many traders wanting to trade on XM’s platform is that XM is really great with customer support. Not only do they have an amazing XM deposit and withdrawal system, XM also has a super efficient and experienced customer service team. Moreover, they also have monthly seminars to educate and assist customers in need. Today, we will focus on the XM deposit and withdrawal feature.

The process of XM deposit and withdrawal

After you have done signing up with XM and opened an XM account, you would want to deposit some money into your account in order to start trading. Let’s check out the process of deposit with XM step by step.

How to deposit:

Log in with your XM account. No matter the platform you use (web platform, metatrader 4 or 5, or XM mobile app), the interface is the same.

After login, look for the DEPOSIT button at the top of your screen.

If you have multiple XM accounts, select the account you want to deposit money in by clicking the DEPOSIT button next to that account.

Select a deposit method. The methods available on XM platform are:
- VISA or mastercard
- Internet banking service of your local banks.
- E-wallets such as neteller, skrill, sticpay, or ngan luong
- Cryptocurrency wallet (bitcoin, tether. )
- Other XM accounts

Enter how much you want to deposit. For clients outside the U.S, XM will automatically convert it to USD.

Check your account information again to make sure all the information is correct. Then click CONFIRM.

Then XM will take you to the transferring page of the method you chose earlier. There, you just need to put in your information and make the trade.

That’s how you deposit money into your XM account. After trading for a while, you would want to withdraw your profit. Continue reading to know how to withdraw money from your XM account.

How to withdraw:

Important note: you have to withdraw money the same way you deposit your money. For example, if you use your mastercard to deposit, after trading, you have to withdraw your profit into that exact mastercard account. If you use multiple methods to deposit money into your account, the amount you can withdraw will be calculated according to the ratio of the amount you deposited. For instance, you deposit $50 with your mastercard and then $100 with skrill. When you withdraw money back to your mastercard account, you can only withdraw a third of your fund. The other two third of your fund can only be withdrawn into your skrill account.

Log in with your XM account. No matter the platform you use (web platform, metatrader 4 or 5, or XM mobile app), the interface is the same.

You can find the WITHDRAW button right next to the DEPOSIT button earlier.

If you have multiple XM accounts, select the account you want to withdraw money from by clicking the WITHDRAW button next to that account.

Select your withdrawal method. Remember the note above.

The amount you want to withdraw will automatically be converted to USD by XM.

Click confirm to finish the process.

All deposit and withdrawal options of XM

payment options	accepted currency	minimum amount	fees	time
VISA	USD, EUR	$5	none	2 - 10 days
mastercard	USD, EUR	$5	none	2 - 10 days
maestro	USD, EUR	$5	none	2 - 10 days
webmoney	USD, EUR	$5	none	2 - 10 days
nganluong	USD, EUR	$5	none	instantly
neteller	USD, EUR	$5	none	instantly
skrill	USD, EUR	$5	none	instantly
bank transfer	any	$150	depends	2 - 10 days

The maximum duration for XM withdrawal is 24 hours. If you haven’t received your money after 24 hours, please contact the XM help team for assistance. XM has a really helpful and professional customer support team. All of your problems regarding XM deposit and withdrawal will be solved in no time.

How much can you withdraw from an ATM? Maximum cash withdrawals for UK banks revealed

THE amount people can withdraw from an ATM varies depending on which bank you use as well as the account you have in your account.

Consumer rights group which? Has reported that atms up and down the country are shutting down at a rate of 300 every month as people use contactless payments more.

The UK currently has around 70,000 atms, with more than 97 percent of withdrawals from free-to-use machines.

But according to banking industry body UK finance, almost 7.4 million brits are now living an "almost cashless life" - meaning they are less in demand than ever.

How much can you withdraw from an ATM?

Lloyds and halifax

You can withdraw up to £500 a day from a cash machine.

The maximum amount of cash you can withdrawal over a branch counter is £2,500.

Nationwide

For most nationwide accounts the maximum you can withdraw in a single day is £500, but for smart card and flexone accounts it is £300.

Barclays

Barclays will allow you to withdraw up to a maximum of £300 a day if you are a personal customer.

But premier customers can withdraw up to £1,000.

And business customers up to £750.

Natwest and RBS

How much you can withdraw if you bank with natwest or RBS depends on the account you have.

Holders of student, graduate, savings or adapt accounts can all withdraw £250.00 a day.

Foundation, select, reward, silver or platinum account holders can take out up to £300.00.

If you have a black account, the limit is £750.00.

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BOX CLEVER

Regardless of what account you have, the limit is a maximum of £200 each day.

Santander and HSBC

If you have a santander select current account, you can withdraw £1,000 in a single day.

For the everyday current account, the limit is £300.

If you have an HSBC bank account the limit is £300, while for HSBC advance accounts it is £500.

Clydesdale

With clydesdale, the maximum daily limit is £350.

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XM minimum deposit review south africa – revealed ( 2021 )

XM minimum deposit

According to research in south africa, the XM minimum deposit amount that XM requires is $5.

The minimum deposit amount of $5, when registering a live account, is equivalent to ZAR86.57 at the current exchange rate between the US dollar and the south african rand, at the day and at the time that this article was written.

XM has headquarters in cyprus, australia, and belize and is authorized and regulated by demanding regulating entities namely cysec, ASIC, IFSC, DFSA, and the FCA.

As a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as XM are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

This is an imperative factor for traders to consider when comparing various brokers as a lack of regulation may lead to substantial losses of funds that traders may not be able to refund as there is no regulation overviewing such processes.

In addition, regulated brokers are often audited and have strict supervision from regulating entities to ensure that trading activities are legitimate, legal, and fair, and that disputes between the trader and the broker are resolved fairly.

Brokers who do not ensure that client funds are kept in segregated accounts, and rather in the broker account, may be an indication of scam brokers or fraudulent brokers as funds could be, with ease, used or taken possession of by the broker.

Furthermore, with segregated accounts provided by the broker, funds can be withdrawn by the trader at any time, which is an additional and crucial attribute that brokers who are regulated need to comply with.

Deposit fees and deposit methods

XM does not charge any fees when deposits are made into the trader’s account.

XM offers a vast amount of payment methods which include, but is not limited to:

Bank wire transfer

Local bank transfer

Credit/debit cards

Neteller

Skrill, and more

XM supports a wide variety of deposit currencies in which traders can fund their accounts which includes, but is not limited to:

ZAR, and more.

Traders need to ensure that deposits and withdrawals are made in the same currency, and that the account from which funds are deposited, and to where withdrawals are made are the same account registered with XM.

XM does not allow for third-party payments, and the account must be registered in the name of the trader, it may not be in the name of any other person. This forms part of XM’s anti-money laundering, or AML, process enforced by regulatory entities.

Traders also need to ensure that they do the necessary conversions, where applicable, before funds are deposited, to ensure that they meet XM’s minimum deposit requirements and avoid any penalties, or conversion fees should this not be done in the correct manner.

Although various payment methods support the deposit and withdrawal of funds in numerous currencies, traders need to be aware that some payment methods allow for certain deposit currencies.

Traders will need to verify this with XM before selecting a payment method and deposit, but in most cases, the available deposit currencies for a specific method will be indicated on the page where traders can fund their accounts.

Step by step guide to deposit the minimum amount

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by following these steps:

Log into the client portal and select ‘deposit’

Select the deposit method along with the amount.

After the trader has made their selection, they will be redirected to the payment processor page to confirm their deposit.

Traders should take note that with making deposits by using bank wire transfer, the transactions may take a certain amount of time depending on the method, time of the day, and day of the week.

Other payment methods may have shorter turn-around times such as credit/debit cards and various e-wallets, but these may also be subjected to certain banking institutions’ internal processes pertaining to clearance of funds.

Withdrawal turn-around and delays may also be subjected to factors outside of XM’s control and may be due to the trader’s banking institution’s own internal processes with releasing funds.

Traders will need to verify this information with their banking institution and realize that banking processes are also subjected to the day of the week and the time of day in processing withdrawals.

There may be clearance procedures that the trader’s withdrawal is subjected to, imposed by the banking institution, and this information will need to be verified with the banking institution prior to withdrawals.

Bank wire transfers take anything from a day to a few business days depending on the time the payment was made during the day along with the day of the week, according to research in south africa

Pros and cons

PROS	CONS
1. Deposit fees are not charged	1. None noted
2. Quick and easy depositing of funds
3. Low minimum deposit amount
4. Wide variety of payment methods offered
5. Wide variety of deposit currencies supported

Frequently asked questions

What is the minimum deposit for XM?

How do I make a deposit and withdrawal with XM?

You can make use a wide variety of deposit and withdrawal methods including, but not limited to: bank wire transfer, local bank transfer, credit/debit cards, neteller, and skrill

Does XM charge withdrawal fees?

No, not internally. Traders may be charged fees by their banking institution depending on the payment method through which withdrawals are made.

How long does it take to make a withdrawal?

Bank wire transfer – from two to several days / local bank transfer – from one to a few business days

Credit/debit cards – instant / neteller – instant / skrill – instant

Is XM regulated?

Yes, by demanding regulating entities, cysec, ASIC, IFSC, DFSA, and the FCA.

XM group review

28 october 2020 - kate leaman

1,200+ available instruments

Free educational materials

Licensed by FCA

Best broker for forex trading beginners

Only supports MT4 and MT5

XM group overall scores

XM broker reviews, interface, and trading tools provided

Minimum deposit

Bonus

Maximum leverage

Year founded

Regulation

Trading platform

XM is one of the largest forex brokerages, it is also one of the older ones as well, but this doesn’t mean that they are not up to date with all of the tech innovations in the financial sphere. The company was created in 2009 in limassol, cyprus. We’re also happy to report that the company is regulated and licensed by cysec, the local financial watchdog. Besides this one regulation, XM forex broker also complies with the rules of the regulators such as the FCA, bafin, AFM, CNMV, FI, FIN.

As we delve into XM forex broker review, let’s get the question out of the way from the very beginning. Is XM legit? Yes, they are indeed. Is there at least a small possibility of an XM scam? No, definitely not. By being compliant with so many financial regulators, it would have had so many more fines to pay compared to the profit it would ever be hoping to make as a scam. If anything, XM is the opposite of a scam. Let’s jump right into their features and options, to find out what truly sets them apart from the rest.

First impressions and regulations

As already stated, in terms of regulation XM is probably the one that is compliant with the most, if not all, financial regulatory rules. This XM review could have taken a completely different route if we couldn’t find them with the regulators. But checking up on them, all of the searches came back positive, they are indeed registered everywhere.
XM is an international company that has customers all over the globe and is regulated by a large number of regulatory companies, which is what allows it to work with traders anywhere in the world. So the question of whether XM fraud is out of the question.

Is XM regulated in south africa?

Some of you might ask though, is XM south africa regulated by the FSCA? This is where the problem arises – it is not, at least as of writing this article. This is because XM’s global presence has yet to be officially announced in south africa, even if they do offer their services to traders from here.

Though do not worry, the amount of regulation and the track record XM has with the global community guarantees that it is going to be as honest in its dealings with south african traders as with any other trader in the world. Also, we have reached out to XM forex broker representative and we were told that the company is in process of getting FSCA regulation, it simply takes a while for the local regulator to approve the application.

XM.Com review of the website

Our first impression with their website was also a very positive one, as they displayed a nice layout of information. Something we always approve of brokers doing as it makes our job so much easier. The registration part was as easy as you’d find anywhere else, and we also found the choices with the preferred language varied a lot as well. There were more than 20 options, which is always a welcome sight to see and a boost to reliability.

XM FX brokerage features

Now let’s see what the trading conditions with this broker are. After these amazing first impressions, we need to discuss whether or not they align with the services they bring to the table. All of the major important features, such as spreads, leverage, and fees will be discussed here.

Spread

We’re happy to report that XM has some of the lowest spreads available on the market right now. The lowest we were able to see and experience was 0.1 pip for forex major currency pairs. The fact that they have spreads indicates that they don’t have any type of commissions which is always welcome news for a trader. The addition of having tight spreads is also encouraging to go ahead and start trading with the brokerage. Speaking of starting…

XM minimum deposit

When you decide to start trading with XM, you’ll be met with a choice of accounts. In most cases, forex brokers would have 3 types. A beginner, a medium and a VIP account. With XM you get those 3 choices too. The lowest minimum deposit is 70 ZAR with the XM micro account, but it looks like the XM ultra low account is the most popular at 700 ZAR as a minimum deposit. Many people believe that when a broker has such low minimum deposit requirements it’s almost always a scam. Is it the case here? Can XM be trusted? Yes, they can be trusted. Being one of the largest forex brokerages in scale, their margins have gone to a point where they are able to afford such low minimum deposits. Plus, despite the low deposit requirements they are also able to offer leverage through the roof, as well as some nice bonuses on the side.

XM maximum leverage

At this moment the leverage cap is at 1:888. This may be quite surprising to some of you who are familiar with ESMA. How can they have such big leverage if they are regulated in the EU? Well, remember when we said that they are not regulated in south africa? That’s why they are able to offer this leverage, they have nothing stopping them from offering such high leverage.

But before you start jumping at the sight of this leverage and start throwing your money around, please keep in mind that you should know what you’re doing. Going into a trade with 1:888 leverage, can have incredible profit for you, but if you are a beginner and have no idea what you are doing, it will be devastating for your capital and to your life in general.

XM withdrawals

After you’ve managed to gather up a nice chunk of profit on your account you will want to start considering withdrawing the funds to use in real life. However many brokers always require that you pay a withdrawal fee, which can really rain down on your hard-earned money withdrawal parade. The broker claims that they have 0 fees on any type of XM withdrawal.

This is an amazing opportunity for people who trade large amounts. The more you trade the more profit you’re bound to make, therefore the more you’re eligible to withdraw. Having to pay fees in those cases can be devastating. In terms of withdrawals with XM, you can opt for pretty much everything. Electronic payments, WIRE transfer, credit/debit card transfers as well.

Trading platforms

XM forex broker really likes retro by the looks of it. You’ll only be able to use their services with MT4 or MT5. This at a first glance does indeed seem a bit odd, as there’s not too much variety with the platforms. We’d prefer to see some newer and better software to be featured with the broker. For example, ctrader would have been a great addition to their arsenal. As well as a web trader, which they could easily develop themselves. However, MT4 and MT5 are still quite viable, and the malleability and how easily they can be customized to your needs make them the perfect trading platforms if you have a certain set of requirements and visions you would like to add to your platform.

Account types

XM offers you a set of three accounts dedicating fully to real-time trading, as well as a fourth account type which will allow you to get used to the platform and trade imaginary money, shielding you from the danger of spending it all in a single sitting. All four of these variations have their advantages and disadvantages, but can be definitely useful in their own ways for a certain type of trader. The account types offered are:

Micro account – this account type offers to trade in most of the popular currencies, a nice leverage range (1:1;1:100; 1:200; 1:888) but it also limits your lots to 1000. The spread is as low as 0.1 pip. It allows you to open 200 positions and gives you a trade size restriction on MT5. Otherwise, it provides you with all the bonuses of the standard account, as well as an islamic alternative of the platform.

Standard account – the standard account is in many ways similar to the micro account, but does not limit the number of your lots in 1000, instead of allowing you to have 100000 lots, which is a significant increase in your trading volume availability. The account type also does not limit your MT5 lot size. It also keeps the lot restriction per ticket down at 50.

XM ultra low account – this type of account lowers the pip to 0.6 and takes away the trading bonuses you had. The minimum deposit is increased to 730 ZAR, unlike the other two types of accounts. The account type also introduces some variability between micro standard and micro ultra, limiting the trading volume and contact size according to which one you choose.

XM also offers a demo account, as mentioned above. Such an offer is a godsend to all beginners. You see, as a beginner, who is just starting to trade and learning about forex, you might not want to invest real money into the market. So demo accounts such as this are a great tool to start working on the platform and the trader that interests you the most. Really nice of XM to include this as one of their offers.

Live chat and other support

One of the most important things in the forex industry is the speed of response. As things on the market change really fast, you need to react equally quickly. What is even more important though is that you be able to react quickly in case something goes wrong with your platform. The forex broker needs to be able to do the same thing. Thankfully the live chat support service offered by XM forex broker works really well, giving you answers almost instantly, as you get in touch with them. The same goes for the other types of support systems. Email works well, even though it is slower than that live chat system. This type of dedication and support is something you won’t see with the average broker, which is why this is adding points to the already high XM rating.

Can XM be trusted?

Based on this XM broker review, our expert staff says yes, XM can be trusted. Not only that but we also believe that they are one of the few forex brokers in the world that should be trusted. They are highly regulated, incredibly well supported and their offers are both realistic and malleable. The XM reviews available online are also very positive. Something not a lot of brokers can offer.

So, let's see, what we have: XM: login, minimum deposit, withdrawal time? Recommended broker XM is the brand name of trading point holdings limited. They own four subsidiaries, each with their own license. In at xm maximum withdrawal