XM is a large forex and CFD broker regulated by CySEC, popular across Asia, the Middle East, Africa and Latin America. It is one of the more bonus-active brokers, offering both no-deposit and deposit promotions where regulations permit, outside the EU. The turnover and withdrawal terms, not the headline, decide what a bonus is worth.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
XM
XM matches your deposit 100% on the first $500 and 20% after that, up to $10,500 in bonus credit you can trade with but cannot withdraw directly.
XM
XM gives new clients a $30 trading credit with no deposit required, claimable after SMS phone verification in the Members Area.
Profile checked against official sources on · How we rate
XM is the retail brand of Trading Point Group, a forex and CFD business that started in Cyprus in 2009 with Trading Point of Financial Instruments Ltd, licensed by CySEC under number 120/10. The group's own figures claim more than 15 million clients from over 190 countries, which puts XM among the largest retail brokers that still run bonus promotions.
The group operates through several licensed entities. The Cyprus company serves the European Economic Area under CySEC rules. Outside Europe, clients are booked with offshore entities: XM Global Limited in Belize, XM International MU Limited in Mauritius and XM (SC) Limited in Seychelles. The group also holds an Australian AFSL (443670), a DFSA authorization in Dubai and an FSCA-authorized representative in South Africa. XM does not serve residents of the United States, Canada, Israel or Iran.
All XM promotions are run by the offshore side of the group, mainly XM Global Limited in Belize. The bonus terms are annexes to XM Global's business terms and are governed by Belize law. The EU entity cannot offer them because CySEC and ESMA rules ban trading incentives for retail clients, and the same logic applies under Australian regulation.
In practice, your country of residence decides your entity and therefore your bonus eligibility. The EU site does not even show a promotions section. The global site is where the Standard account is pitched with the line that it comes with bonuses. XM also states that bonuses are offered at its discretion by country and can be pulled from any market at any time, which is why an offer you see reviewed online may simply not appear in your Members Area.
XM runs on MetaTrader 4, MetaTrader 5 and its own XM app, with web and mobile versions of both MetaTrader platforms. The global offering covers forex, stock derivatives, commodities, indices, precious metals, energies, cryptocurrencies and physical shares.
The global account lineup is Standard and Ultra Low from a $5 minimum deposit, plus a Shares account from $10,000. All accounts include negative balance protection, hedging and an optional Islamic version. For bonus hunters the account choice is the first gate: XM's deposit bonus terms exclude Ultra Low, Swap-Free and Shares accounts, and the loyalty program excludes Ultra Low accounts too. If you want promotional credit you effectively need a Standard account, and you accept wider spreads than Ultra Low in exchange.
XM's no deposit bonus, usually $30 and occasionally $50 in regional campaigns, is trading credit, not cash. It is for new clients only, one bonus account per person and per IP address, and it is credited within 24 hours after you verify your phone number in the Members Area. The credit itself can never be withdrawn.
Profits made with the credit are withdrawable, but the published terms gate them behind a minimum traded volume that varies by campaign version: one official PDF requires 10 micro lots plus at least five round-turn trades, while other versions have required up to 50 micro lots. Any withdrawal from the account removes the bonus proportionally: withdraw 40% of your balance and 40% of the remaining credit disappears. Trades held under ten minutes may not count, and the terms ban expert advisors, automated trading, scalping, arbitrage, news trading and proxies on bonus accounts. Realistically, this is a way to test XM's execution with real money on the line, not free income; a $30 credit traded within the rules produces small numbers.
The deposit bonus at XM Global, per the current official terms, is a two-tier match: 100% on your first deposits up to $500 of bonus, then 20% on further deposits up to another $10,000, for a lifetime cap of $10,500 per client. The minimum deposit is $5. Like the welcome credit, it is margin-boosting credit only and cannot be withdrawn.
The removal rule is the part that catches people. Any withdrawal strips bonus credit in proportion to the share of the balance you take out, and the calculation includes open profit and loss if you have positions running. Withdraw your full balance and the entire bonus is gone. Internal transfers move credit proportionally, and transfers into a non-eligible account destroy that share of the bonus. Dormant accounts lose all credit. On top of the match, XM runs a loyalty scheme where trading volume earns points that scale with your tier and can be redeemed for bonus credit, with withdrawable rewards reserved for higher tiers. Trades closed within ten minutes do not earn points.
First, confirm which entity will onboard you, because that decides whether you see bonuses at all and which regulator stands behind your funds; the Belize, Mauritius and Seychelles licenses are lighter-touch than CySEC. Second, finish verification before you plan around a bonus: ID checks plus SMS confirmation are mandatory, and the credit can take a day to land. Third, read the abuse clause seriously. XM reserves the right to void bonuses, cancel trades and confiscate profits where it judges the activity was aimed only at extracting bonus value, and matching IP or registration data with another participant is enough for disqualification. Finally, plan your withdrawals: because every withdrawal claws back credit proportionally, taking money out early is the most common way claimants shrink their own bonus.
Open a real account with XM's global (offshore) entity as a new client, complete identity verification, then confirm your phone number by SMS in the Members Area under the bonus option. The $30 in trading credit is added within about 24 hours. Only one bonus account is allowed per person and per IP address.
No. Both the no deposit credit and the deposit match are trading credit only. Profits you make with them can be withdrawn, subject to minimum traded volume on the no deposit offer, but withdrawing funds removes the bonus itself proportionally. A full withdrawal wipes all remaining credit.
If you live in the EU you are onboarded with XM's CySEC entity, and EU rules ban broker bonuses; the same applies under the Australian entity. XM also does not serve the US, Canada, Israel or Iran at all, and it decides at its own discretion which remaining countries get each promotion, so availability can change without notice.
The Standard account (and the Micro account where XM still offers one). XM's terms exclude Ultra Low, Swap-Free and Shares accounts from the deposit bonus program, and Ultra Low accounts are also excluded from the loyalty program.
Per the current official terms it is 100% of your deposits up to $500 of bonus, then 20% of further deposits up to another $10,000. The lifetime cap is $10,500 of credit per client. The minimum deposit to start is $5.
XM removes bonus credit in the same proportion as your withdrawal. Withdraw 25% of your balance and you lose 25% of the bonus. If positions are open, the calculation includes floating profit and loss. Internal transfers between accounts move or cancel credit the same way, and dormant accounts lose all bonuses.