How to Deposit and Trade Forex at XM
How to make a Deposit in XM
How to Deposit Money
Credit/ Debit Cards
Deposit on Desktop
To make a deposit into XM’s trading account, please follow the instruction below.
1. Login to the XM
Press “Member Login”.
Enter your MT4/MT5 ID and Password, Press "Login".
2. Select the deposit method “Credit/Debit Cards”
| Deposit methods | Processing time | Deposit fees |
|---|---|---|
| Credit/Debit Cards |
Immediately | Free |
NOTE: Before you proceed with a deposit via credit/debit card, please note the following:
- Please make sure that all payments are made from an account registered in the same name as your XM account.
- All withdrawals, excluding profits, can only be paid back to the credit/debit card that the deposit was initiated from, up to the deposited amount.
- XM does not charge any commissions or fees for deposits via credit/debit cards.
- By submitting a deposit request, you consent to your data being shared with third parties, including payment service providers, banks, card schemes, regulators, law enforcement, government agencies, credit reference bureaus and other parties we deem necessary to process your payment and/or verify your identity.
3. Enter the deposit amount and click "Deposit"
4. Confirm the account ID and deposit amount
Click on "Confirm" to proceed.
5. Enter all the required information to finish the Deposit
Click "Pay Now"
The deposit amount will be instantly reflected into your trading account.
Are you having trouble with Deposit to XM MT4 or MT5?
Contact their support team on Livechat. They are available for 24/7.
Deposit on Mobile Phone
1/ Click the “Deposit" button from Menu
After logging into My Account XM Group official account, click “Deposit” button on the menu on the left side of the screen
2/ Select Deposit payment method
Credit/Debit cards is a recommended payment for deposit because it’s simple and allows fast deposit.
3/ Enter the amount you want to deposit
Use your registered currency when opening an account. If you have selected trading currency is USD, then enter the deposit amount in USD.
After checking the XM Account ID and the amount of money needed to deposit, enter the amount you wish to deposit to your account, click “Deposit" and you will be redirected to the payment age.
4. Confirm the account ID and deposit amount
If the information is correct then you click the “Confirm" button.
5/ Enter Credit/Debit cards information
Please enter your Credit/Debit cards information because the system will automatically direct you to the card information input page.If your card was previously charged, some information should have been previously entered. Confirm the information such as expiry date, …make sure all information is correct.
Once the information is filled, Click the “Deposit” button a message will appear “please wait while we process your payment”.
Please do not click Go back button on the browser while payment is being processed.
Then the process is complete.
Deposit methods other than Credit/Debit cards payment will not be reflected immediately.
If the payment is not reflected in the account, please contact support team at XM Group if the payment is not reflected in the account.
In addition, if your account is deposited from a foreign country other than your registered permanent resident address, you will need to attach a Credit/Debit cards details sheet and a credit/Debit cards image to the support team for security reasons
Please note that the above provisions will apply in the case of Credit/Debit cards issued in foreign country or when traveling abroad.
Electronic Payments
To make a deposit into XM’s trading account, please follow the instruction below.
1. Login to the XM
Press “Member Login”.
Enter your MT4/MT5 ID and Password, Press "Login".
2. Select the deposit methods you want to deposit, example: Skrill
| Deposit methods | Processing time | Deposit fees |
|---|---|---|
| Electronic Payments | Immediately ~ within 1 hour | XM will not receive the full amount you deposited because Skrill charges fees for processing your transaction. Nevertheless, XM will cover the balance of any fees charged by Skrill, crediting your account with the corresponding amount. |
NOTE: Before you proceed with a deposit via Skrill, please note the following:
- Please make sure that all payments are made from an account registered in the same name as your XM account.
- If you do not have an account with Skrill and want to register or learn more, please use this link www.skrill.com.
- By submitting a deposit request, you consent to your data being shared with third parties, including payment service providers, banks, card schemes, regulators, law enforcement, government agencies, credit reference bureaus and other parties we deem necessary to process your payment and/or verify your identity.
3. Enter the Skrill account, deposit amount and click "Deposit"
4. Confirm the account ID, Skrill account and deposit amount
Click on "Confirm" to proceed.
5. Enter all the required information to finish the Deposit
Online Bank Transfer
To make a deposit into XM’s trading account, please follow the instruction below.
1. Login to the XM
Press “Member Login”.
Enter your MT4/MT5 ID and Password, Press "Login".
2. Select the deposit method “Online Bank Transfer”
| Deposit methods | Processing time | Deposit fees |
|---|---|---|
| Online Bank transfer | 3-5 working days | Free |
NOTE: Before you proceed with a deposit via Online Bank Transfer, please note the following:
- Please make sure that all payments are made from an account registered in the same name as your XM account.
- XM does not charge any commissions or fees for deposits via online banking.
- By submitting a deposit request, you consent to your data being shared with third parties, including payment service providers, banks, card schemes, regulators, law enforcement, government agencies, credit reference bureaus and other parties we deem necessary to process your payment and/or verify your identity.
3. Choose the Bank Name, enter the deposit amount and click "Deposit"
4. Confirm the account ID and deposit amount
Click on "Confirm" to proceed.
5. Enter all the required information to finish the Deposit
Google Pay
To make a deposit into XM’s trading account, please follow the instruction below.
1. Login to the XM
Press “Member Login”.
Enter your MT4/MT5 ID and Password, Press "Login".
2. Select the deposit method “Google Pay”
NOTE: Before you proceed with a deposit via Google Pay, please note the following:
- Please make sure that all payments are made from an account registered in the same name as your XM account.
- Please note that Google Pay deposits are non-refundable.
- XM does not charge any commissions or fees for deposits via Google Pay.
- The maximum monthly limit is USD 10,000.
- By submitting a deposit request, you consent to your data being shared with third parties, including payment service providers, banks, card schemes, regulators, law enforcement, government agencies, credit reference bureaus and other parties we deem necessary to process your payment and/or verify your identity.
3. Enter the deposit amount and click "Deposit"
4. Confirm the account ID and deposit amount
Click on "Confirm" to proceed.
5. Enter all the required information to finish the Deposit
Frequently Asked Questions
What payment options do I have to deposit/withdraw money?
We offer a wide range of payment options for deposits/withdrawals: by multiple credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer, and other payment methods.
As soon as you open a trading account, you can log in to our Members Area, select a payment method of your preference on the Deposits/Withdrawal pages, and follow the instructions given.
In which currencies can I deposit money into my trading account?
You can deposit money in any currency and it will be automatically converted into the base currency of your account, by XM prevailing inter-bank price.
What is the minimum and maximum amount that I can deposit/withdraw?
The minimum deposit/withdrawal amount is 5 USD (or equivalent denomination) for multiple payment methods supported in all countries. However, the amount varies according to the payment method you choose and your trading account validation status. You can read more details about the deposit and withdrawal process in the Members Area.
How long does it take for funds to reach my bank account?
It depends on the country the money is sent to. Standard bank wire within the EU takes 3 working days. Bank wires to some countries may take up to 5 working days.
How long does the deposit/withdrawal take by credit card, e-wallet or any other payment method?
All deposits are instant, except for the bank wire transfer. All withdrawals are processed by our back office in 24 hours on business days.
Are there any deposit/withdrawal fees?
We do not charge any fees for our deposit/withdrawal options. For instance, if you deposit USD 100 by Skrill and then withdraw USD 100, you will see the full amount of USD 100 in your Skrill account as we cover all transaction fees both ways for you.
This also applies to all credit/debit card deposits. For deposits/withdrawals via international bank wire transfer, XM covers all transfer fees imposed by our banks, with the exception of deposits amounting to less than 200 USD (or equivalent denomination).
If I deposit funds by e-wallet, can I withdraw money to my credit card?
To protect all parties against fraud and in compliance with the applicable laws and regulations for the prevention and suppression of money laundering, our company’s policy is to return clients funds to the origin of these funds, and as such the withdrawal will be returned to your e-wallet account. This applies to all withdrawal methods, and the withdrawal has to go back to the source of the funds deposit.
How to Trade Forex at XM
How to place a New Order in XM MT4
Right click the chart , Then click “Trading" → select “New Order".Or
Double click on the currency you want to place an order on MT4. The Order window will appear
Symbol: check the Currency symbol you wish to trade is displayed in the symbol box
Volume: you must decide the size of your contract, you can click on the arrow and choose the volume from the listed oprions of the drop-down box or left click in the volume box and type in the required value
- Micro Account : 1 Lot = 1,000 units
- Standard Account : 1 Lot = 100,000 units
- XM Ultra Account :
- Standard Ultra: 1 Lot = 100,000 units
- Micro Ultra: 1 Lot = 1,000 units
- Shares Account :1 share
- Micro Account : 0.1 Lots (MT4), 0.1 Lots (MT5)
- Standard Account : 0.01 Lots
- XM Ultra Account :
- Standard Ultra: 0.01 Lots
- Micro Ultra: 0.1 Lots
- Shares Account :1 Lot
Comment: this section is not obligatory but you can use it to identify your trades by adding comments
Type: which is set to market execution by default,
- Market Execution is the model of executing orders at the current markets price
- Pending Order is used to setup a future price that you intend to open your trade with.
Finally you need to decide what order type to open, you can choose between a sell and a buy order
Sell by Market are opened at bid price and closed at ask price, in this order type your trade may bring profit if the price goes down
Buy by Market are opened at ask price and closed at bid price, in this order type your trade may bring profir It the price goes up
Once you click on either Buy or Sell, your order will be instantly processed, you can check your order in the Trade Terminal
How to place a Pending Orders
How Many Pending Orders in XM MT4
Unlike instant execution orders, where a trade is placed at the current market price, pending orders allow you to set orders that are opened once the price reaches a relevant level, chosen by you. There are four types of pending orders available , but we can group them to just two main types:
- Orders expecting to break a certain market level
- Orders expecting to bounce back from a certain market level
Buy Stop
The Buy Stop order allows you to set a buy order above the current market price. This means that if the current market price is $20 and your Buy Stop is $22, a buy or long position will be opened once the market reaches that price.
Sell Stop
The Sell Stop order allows you to set a sell order below the current market price. So if the current market price is $20 and your Sell Stop price is $18, a sell or ‘short’ position will be opened once the market reaches that price.
Buy Limit
The opposite of a buy stop, the Buy Limit order allows you to set a buy order below the current market price. This means that if the current market price is $20 and your Buy Limit price is $18, then once the market reaches the price level of $18, a buy position will be opened.
Sell Limit
Finally, the Sell Limit order allows you to set a sell order above the current market price. So if the current market price is $20 and the set Sell Limit price is $22, then once the market reaches the price level of $22, a sell position will be opened on this market.
Opening Pending Orders
You can open a new pending order simply by double-clicking on the name of the market on the Market Watch module. Once you do so, the new order window will open and you will be able to change the order type to Pending order.
Next, select the market level at which the pending order will be activated. You should also choose the size of the position based on the volume.
If necessary, you can set an expiration date (‘Expiry’). Once all these parameters are set, select a desirable order type depending on whether you would like to go long or short and stop or limit and select the ‘Place’ button.
As you can see, pending orders are very powerful features of MT4. They are most useful when youre not able to constantly watch the market for your entry point, or if the price of an instrument changes quickly, and you don’t want to miss the opportunity.
How to close Orders in XM MT4
To close an open position, click the ‘x’ in the Trade tab in the Terminal window.
Or right-click the line order on the chart and select ‘close’.
If you’d like to close only a part of position, click the right-click on the open order and select ‘Modify’. Then, in the Type field, select instant execution and choose what part of the position you want to close.
As you can see, opening and closing your trades on MT4 is very intuitive, and it literally takes just one click.
Using Stop Loss, Take Profit and Trailing Stop in XM MT4
One of the keys to achieving success in financial markets over the long term is prudent risk management. That’s why stop losses and take profits should be an integral part of your trading.So let’s have a look how to use them on our MT4 platform to ensure you know how to limit your risk and maximise your trading potential.
Setting Stop Loss and Take Profit
The first and the easiest way to add Stop Loss or Take Profit to your trade is by doing it right away, when placing new orders.
To do this, simply enter your particular price level in Stop Loss or Take Profit fields. Remember that Stop Loss will be executed automatically when the market moves against your position (hence the name: stop losses), and Take Profit levels will be executed automatically when the price reaches your specified profit target. This means that you’re able to set your Stop Loss level below the current market price and Take Profit level above current market price.
It’s important to remember that a Stop Loss (SL) or a Take Profit (TP) is always connected to an open position or a pending order. You can adjust both once your trade has been opened and you’re monitoring the market. It’s a protective order to your market position, but of course they are not necessary to open a new position. You always can add them later, but we highly recommend to always protect your positions*.
Adding Stop Loss and Take Profit Levels
The easiest way to add SL/TP levels to your already opened position is by a using trade line on the chart. To do so, simply drag and drop the trade line up or down to specific level.
Once you’ve entered SL/TP levels, the SL/TP lines will appear on the chart. This way you can also modify SL/TP levels simply and quickly.
You can also do this from the bottom ‘Terminal’ module as well. To add or modify SL/TP levels, simply right-click on your open position or pending order, and choose ‘Modify or delete order’.
The order modification window will appear and now you’re able to enter/modify SL/TP by the exact market level, or by defining the points range from the current market price.
Trailing Stop
Stop Losses are intended for reducing losses when the market moves against your position, but they can help you lock in your profits as well.While that may sound a bit counterintuitive at first, its actually very easy to understand and master.
Let’s say you’ve opened a long position and the market moves in the right direction, making your trade a profitable one at present. Your original Stop Loss, which was placed at a level below your open price, can now be moved to your open price (so you can break even) or above the open price (so you are guaranteed a profit).
To make this process automatic, you can use a Trailing Stop. This can be a really useful tool for your risk management, particularly when price changes are rapid or when you’re unable to constantly monitor the market.
As soon as the position turns profitable, your Trailing Stop will follow the price automatically, maintaining the previously established distance.
Following the example above, please bear in mind, however, that your trade needs to be running a profit large enough for the Trailing Stop to move above your open price, before your profit can be guaranteed.
Trailing Stops (TS) are attached to your opened positions, but it’s important to remember that if you have a trailing stop on MT4, you need to have the platform open for it to be successfully executed.
To set a Trailing Stop, right-click the open position in the ‘Terminal’ window and specify your desired pip value of distance between the TP level and the current price in the Trailing Stop menu.
Your Trailing Stop is now active. This means that if prices change to the profitable market side, TS will ensure the stop loss level follows the price automatically.
Your Trailing Stop can easily be disabled by setting ‘None’ in the Trailing Stop menu. If you want to quickly deactivate it in all opened positions, just select ‘Delete All’.
As you can see, MT4 provides you with plenty of ways to protect your positions in just a few moments.
*Whilst Stop Loss orders are one of the best ways to ensure your risk is managed and potential losses are kept to acceptable levels, they don’t provide 100% security.
Stop losses are free to use and they protect your account against adverse market moves, but please be aware that they cannot guarantee your position every time. If the market becomes suddenly volatile and gaps beyond your stop level (jumps from one price to the next without trading at the levels in between), it’s possible your position could be closed at a worse level than requested. This is known as price slippage.
Guaranteed stop losses, which have no risk of slippage and ensure the position is closed out at the Stop Loss level you requested even if a market moves against you, are available for free with a basic account.
