XM Bonus Promotion – $30 No Deposit Bonus
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Do you know XM offers $30 or R450 (South African Rand) as a signup bonus?
With XM, traders who open a real account receive a signup bonus almost equal to a no-deposit bonus. As part of the signup process, the trader is not required to make any initial deposits, and he can get a $30 welcome bonus right away. It is important to note, however, that the signup bonus is not withdrawable.
A trader may withdraw profits earned from the bonus amount at any time if he succeeds in making any profit from that bonus. Thus, traders can consider this bonus as a start-up boost to start trading before investing their funds. However, the traders should maintain that it might be lower than margin conditions and requirements in some scenarios.
A brief overview of XM bonuses
XM is considered one of the most renowned and widely recognised international investment companies with more than fifty million clients. However, it came into being in 2009 and is known as one of the world’s most prestigious and highly reputable organisations. Moreover, in the financial market, XM‘s team comprises more than six thousand professionals with a combined average of more than thirty years of experience.
In addition, XM‘s strict policy of no requotes and rejections makes trading reliable and hassle-free. Also, more than 99.35% of transactions, orders, and trades execute immediately. XM’s business model is built around the conviction that execution is everything in the Forex market. That’s why XM’s model reflects their belief in this.
However, CySEC, ASIC, IFSC, DFSA, and the FCA are among the institutions regulating XM, and its base is in Australia, Belize, and Cyprus. Also, funds held under the broker’s regulation must be held in segregated accounts.
Moreover, to comply with the rules and regulations of XM, brokers must keep separating the client’s funds from the broker’s account. And traders can only use client’s funds for trading purposes.
Terms and conditions to receive a signup bonus
With this bonus, traders will have an experience similar to a demo account. However, they will be using a real account, so that additional signups won’t be necessary. A new client can only receive this bonus if they have not previously registered an account with XM. Also, the client will be only eligible to receive a signup bonus if their information isn’t in XM’s database. An existing demo account will not qualify for this bonus.
Trading accounts associated with XM ultra-low are also not eligible to receive any bonus while signing up. The good news is that XM also offers several other accounts that may be considered eligible by traders. For example, a trader can also claim a bonus of 100% on their initial deposit of up to $500, plus a bonus of 20% on their second deposit up to a maximum of $4500 or its equivalent in any currency.
In addition to encouraging trading activity, brokers often offer these brokers bonuses to entice more customers to open accounts with them. Traders can use these bonuses to be sure they will receive some profit or cash backs. In addition to these bonuses, traders can also use them as extra credit to trade without risking their own money, and the profit, not the bonus itself, can be withdrawn.
Brokers must offer such bonuses to investors. In addition, it increases the chances of trades registering real accounts with brokers who offer them because it lowers the risk of losing their capital.
What are the eligibility requirements for XM’s $30 no deposit bonus?
To ensure that the broker and the platform are the right fit for all prospective clients, XM provides the newcomers of the broker with a no deposit bonus. The traders can try out the trading process on their platform to feel confident about the broker or the chosen platform. To qualify for a bonus, the newly registered customers must meet all the criteria. Individuals under 18 or otherwise categorised as minors in their countries of residence face some restrictions. As minors, these customers are not eligible to open a real trading account and are not eligible for the XM $30 bonus.
What is a referral bonus?
A regulated broker offers a referral bonus to its new traders and clients. Brokers do so to generate more profit and to extend their client base. In short, the goal of these referral bonuses is to attract more clients to the broker’s business.
But in addition, traders usually have to meet certain criteria before they can take advantage and earn profit from these types of bonuses. At the moment, there is no referral bonus that XM is offering for existing and new employees.
Criteria to consider, but is not limited to
- The traders need to register a real account with the broker using a unique referral link. So, it will be easy for the broker to track the trader’s registration with the broker.
- Traders are not eligible to receive the referral bonuses with the Demo account. However, these referral bonuses are available only for the traders that create an actual account.
- Also, referrals have to deposit a certain amount.
- In addition, to become eligible for a referral bonus, a referral or a trader who has a new account must execute a specified number of trades on a new account.
- In some cases, traders can also utilise referral bonuses for a limited period. Such as there might be a period when the broker notices a decline in the activity and decides to counter it with such bonuses.
Additional broker rewards, bonuses, and promotions
Though XM is a part of the XM Loyalty Program, XM offers additional bonuses, incentives, promotions, and seasonal bonuses to its loyal and active traders according to specific calendar occasions and events.
Furthermore, XM chooses a random account every month for an additional giveaway of $1000000 in celebration of XM’s tenth anniversary until 30 June 2021, with a chance of winning various prizes.
So, there are 50 winners per month in the lucky draw held by XM, which has a prize pool of 80,000 dollars. However, trading participants who wish to be in the lucky draw have to adhere to the following criteria to be eligible for the lucky draw:
- The trading participant must possess an MT4 and MT5 real trading account. Moreover, these should be verified through appropriate channels, as well as have sufficient experience and funds.
- Trading participants must have a balance of $500 or equivalent to it in other currency in their real accounts.
Following are some of the winners so far:
- 20 winners receive $200
- 15 winners receive $1000
- Ten winners receive $2000
- One winner of $4000
- One winner of $6000
- One winner of $7000
- One winner of $8000
- One winner of $10000
Traders receive their winnings either in US dollars or currency equivalent to the trader’s MT4 and MT5 trading accounts which are live and active.
Upon first signing up, XM provides a bonus to its new traders, including a no deposit and a welcome bonus.
XM offers bonuses, promotions, and rewards to its loyal and active clients in collaboration with the XM Loyalty Program.
Currently, XM does not offer referral bonuses to traders under its regulations.
XM does not offer customer support service during the weekends.
The signup bonus offered by XM to real-money traders is as generous as a no-deposit bonus. A trader does not need to make any initial deposit when signing up, and he gets a $30 welcome bonus immediately. However, signup bonuses are not redeemable.
Jason Morgan is an experienced forex analyst and writer with a deep understanding of the financial markets. With over 13+ years of industry experience, he has honed his skills in analyzing and forecasting currency movements, providing valuable insights to traders and investors.
Forex Content Writer | Market Analyst