ALL YOU NEED TO KNOW ABOUT XM 30$ BONUS
XM is one of the best forex brokers in the world and now they even offer an XM 30$ bonus for all new clients. Can you believe that? Now, you may be wondering how come XM gives you this promotion or what their conditions are. This article today will answer all your questions so that you can really understand this trading bonus.
Check out our XM reviews.
What type of bonus is XM 30$ bonus?
Normally, there are three types of forex bonuses. They are welcome bonus, deposit bonus, and lot back bonus.
Welcome bonus, just like its name, is a bonus brokers give traders as a “thank you” for their registration at them. Traders usually use this bonus as a means to test the broker to see if they want to work for long term with this broker.
Deposit bonus is a sum of money offered to traders when they first make a deposit. The amount of this bonus is decided based on the total deposit the traders make. This is a way to encourage traders to deposit more in the first time.
Finally, lot back bonus is like a loyalty program. The procedure can be put simply as when you finish one trade, a rebate will be given to your account automatically from the broker. The more you trade, the more you get rebated. This bonus program encourages traders to trade more with that broker.
The XM 30$ bonus is a welcome bonus. Whenever there is a new client on the platform, XM will reward this new register with $30 for trading. This bonus is for first time sign-up only. Welcome bonus is actually very good for forex beginners. You’re new to forex, so you’re advised to not deposit too much at first, because more than 90% of new traders lose everything at the beginning. So with this extra $30, you have more than enough money to try trading forex. You can check the execution quality, the platform, the speed, spread and commission, the slippages, swaps, or requotes of XM without losing any of your own money. What a good deal for a beginner.
A quick notice: you must claim this bonus in 30 days since you open an account or the bonus will be unavailable.
Conditions for withdrawal
When you finish making money with this XM 30$ bonus, you will want to withdraw your profit, right? This is when the tricky part appears. Just like all other types of bonus and broker, the withdrawal conditions of this bonus is quite complicated. I will try to make it the most simple as possible.
The profit you make from this bonus can be withdrawn anytime. However, everytime you withdraw your funds, the amount of this bonus will be reduced 40%. Also, you have to withdraw at least 40% of your funds. For example, you make $200 from this XM 30$ bonus. Therefore, when you withdraw, you have to take at least $80 (40% of $200). Then, the amount of the bonus will be reduced $12 (40% of $30). So you have withdrawn, for instance, $80, and you have a total of $138 left in your account ($120 profit + $18 bonus).
How to get this XM 30$ bonus
You can easily acquire this bonus simply by following these steps:
- Open a real account at XM.
- Log in to your Member Area.
- Validate your account.
- There will be a button saying “Claim your bonus” on the screen.
- Complete the SMS verification by following the instructions there.
Now what are you waiting for? Claim your XM 30$ bonus here.
Why should you get this bonus?
$30 is not much for trading. However, when you convert it to pip, it's 0.3 pip. So when you look at it the other way, this bonus is a great way to reduce your trading cost when you trade with XM. The normal XM spread is about 1 to 1.2 pips. With the 0.3-pip discount, you have cut your trading cost down to 0.7 - 0.9 pip, which is among the lowest spread in the market. So you can see that this bonus is not meant for trading. It is for cost reduction.
Other XM bonus programs
Right now, XM is having very good bonus programs that are super beneficial to traders:
- XM 15% Welcome bonus: This is a welcome bonus program that reward you 15% of your first deposit. The maximum amount you can get rewarded is up to $500. More details here.
- XM Loyalty program: As you trade, you will earn XM points which can be redeemed at any time for credit bonus rewards in the Members Area. In the Members Area you can also monitor your balance of XMP at any time, including the equivalent value of your XM points as credit bonus. The bonus adds funds to your trading account but it is intended for trading purposes only. The amount of bonus is a third of your total XM points. More details here.
Those 2 programs are just as good as the XM 30$ bonus program. You can obviously see that trading at XM can be very cheap thanks to all those bonus programs.