Most Forex brokers require a certain amount of money to open a trading account, which is necessary to pay for the cost of opening your account and ensuring profitability. However, XM accepts several currencies as base currency for trading accounts. This allows you to trade in several currencies simultaneously.
Depositing with XM is a quick and easy process. The broker maintains separate bank accounts for its clients, so that the financial state of XM does not impact the funds in your account. You can also choose to deposit via a paper check.
XM accepts Visa, MasterCard, Maestro, and Visa Electron as the primary payment methods. When depositing with a credit card, you will not be charged, but keep in mind that most credit cards and debit cards have limits on the amount you can deposit.
After selecting your preferred deposit method, you will need to provide your bank account number and minimum deposit amount. The broker will then initiate the transfer operation. Once the transaction is complete, you will see the funds in your XM account within two to five business days.
XM offers a variety of deposit methods, including Paypal, e-Wallets, and credit cards. The minimum deposit is $50, which is lower than the industry average. This means that XM is a good choice for beginners. They also accept various deposit and withdrawal methods, including eWallets and bank transfers. The deposit process is simple and there are no hidden fees.