XM Forex Rebates
Overall, XM offers Nigerian traders forex rebates on the Micro, Standard, and Ultra-Low accounts up to $15 per lot traded. Islamic Accounts with XM are eligible for rebates.
- Louis Schoeman
Overall Rating
- 4.5/5
| 🏛️ Headquartered | Belize |
| 🏛️ Nigerian Based Office | No |
| 👍 Accepts Nigerian Traders? | Yes |
| 📅 Year Founded | 2009 |
| 📱 Nigerian Office Contact Number | None |
| ⚖️ Regulation | FSCA, IFSC, ASIC/AFSL, CySEC, DFSA |
| 🔎License Number | Belize – 000261/158 South Africa – 49976 Australia – 443670 Cyprus – 120/10 Dubai – F003484 |
| ⚖️ CBN Regulation | None |
| ✴️ Regional Restrictions | The United States, Canada, Israel, the Islamic Republic of Iran |
| ☪️ Islamic Account | Yes |
| 📈 Demo Account | Yes |
| 📈 Retail Investor Accounts | 4 |
| 🚀 Offers a Nigerian Account? | No |
| 💻 Dedicated Nigerian Account Manager? | No |
| 📈 Maximum Leverage | 1:888 |
| 📈 Leverage Restrictions for Nigeria? | No |
| 💳 Minimum Deposit (₦) | 2,000 Nigerian Naira (equivalent to $5) |
| 💳 Nigerian Naira Deposits Allowed? | Yes |
| 💰 Active Nigerian Trader Stats | 1.3 million |
| Active Nigerian-based XM customers | 100,000+ |
| 💰 Nigeria Daily Forex Turnover | $1.25 million+ |
| 💳 Deposit and Withdrawal Options | Credit Card Debit Card Bank Wire Transfer Local Bank Transfer Skrill Neteller WebMoney |
| 💰 Segregated Accounts with ities CFDsNigerian Banks? | No |
| 💻 Trading Platforms | MetaTrader 4, MetaTrader 5 |
| 💰 Tradable Assets | Forex Stock CFDs Commodities Equity Indices Precious Metals Energies Shares |
| 🌐 Offers USD/NGN currency pair? | No |
| 🌐 USD/NGN Average Spread | N/A |
| 📈 Offers Nigerian Stocks and CFDs | No |
| 👨💼 Languages supported on Website | English, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/5 |
| 👥 Nigerian-based customer support? | No |
| 💰 Bonuses and Promotions for Nigerians | Yes |
| ✴️Education for Nigerian beginners | Yes |
| 📊 Proprietary trading software | No |
| 💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️Is XM a safe broker for Nigerians? | Yes |
| ✔️Rating for XM Nigeria | 9/10 |
| ✔️Trust score for XM Nigeria | 84% |
XM Forex Rebates – 5 key points quick overview:
XM Rebates System Overview XM Rebates System Overview
XM is one of the most reputable forex rebate providers globally. Furthermore, XM Partner Program provides affiliate partners and introducing brokers (IB) with an effective and transparent business method.
This allows partners to attract clients and earn commissions based on trading volume, including the opportunity to offer forex cashback or forex trading discounts to Nigerian traders.
This program allows XM affiliates to set up personalized payment plans, ensuring timely and automatic payment of earned commissions as rebates to their clients. Commissions and client rebates are paid biweekly without any additional fees.
Nigerian traders who open an account with XM through SA Shares can earn up to 30% rebates, depending on the traded financial instrument and the account type used in the rebate program.
XM Rebates Payments
All payments from the XM forex rebate services are transferred to the partner’s XM MyWallet, providing the flexibility to distribute rebates to participating Nigerian traders using various payment methods at no extra cost.
| 💰 XM Cashback Forex Rebates | 📊 Micro Account | 📊 Standard Account | 📊 Ultra-Low Account |
| Forex | $5.5 per lot | $5.5 per lot | Up to $7.50 per lot |
| Indices | Up to $2.65 per lot | Up to $2.65 per lot | Up to $2.65 per lot |
| Cryptocurrency | Up to $15 | Up to $15 | Up to $15 per lot |
| Precious Metals | Gold + Silver $5.50 per lot | Gold + Silver $5.50 per lot | Gold – $3.00 per lot Silver – $7.50 per lot |
| Energies | Up to $6.50 per lot | Up to $6.50 per lot | Up to $6.50 per lot |
| Shares | Up to $3.33 per lot | Up to $3.33 per lot | Up to $3.33 per lot |
| Soft Commodities | Up to $7.50 per lot | Up to $7.50 per lot | Up to $7.50 per lot |
| Payment Frequency | Payments are made to the XM MyWallet twice weekly There is monthly cashback available There are real-time reports | Payments are made to the XM MyWallet twice weekly There is monthly cashback available There are real-time reports | Payments are made to the XM MyWallet twice weekly There is monthly cashback available There are real-time reports |
XM Conditions and Notes on Forex Rebates
- Important conditions and notes regarding XM’s forex rebate program include a five-minute minimum position holding time for Micro, Standard, and Ultra-Low Accounts.
- The same five-minute position time requirement applies for Micro and Standard Accounts with Swap-Free.
- Rebates are not available to customers from Europe and Australia.
- Biweekly payments are offered to both affiliates and clients. In addition, XM offers up to 100% compensation, amounting to $58.5 per lot.
- Traders can also take advantage of XM’s attractive bonuses.
- All rebates earned by a trader are credited to their MyWallet account, free from hidden costs, preconditions, or spread markups.
- Islamic Accounts with XM are eligible for rebates.
How to Open a Forex Cashback Account with XM (via SAShares)
You can follow these steps to register for a Forex Cashback Account with XM via SAShares.
For New Accounts
If you do not have an existing account with XM, you can easily obtain a cashback rebate in three easy steps.
Step 1
Visit the XM website and click “Open Account.”
Step 2
Submit your Trading ID to us: [SAShares]
For Example:
To: [SAShares]
Subject: New XM Rebate Application
“Dear SAShares Team,
Please view my XM Client ID: 12345 (Your Account, Client, or Trading ID] and inform me whether my rebate application has been accepted.”
Step 3
Wait for approval, which will be sent within [number of hours]. Once approval is given, you will automatically receive your cashback rebates from the XM system.
For Existing Accounts
If you have an existing XM account, you can get a cashback rebate by following these easy steps.
Step 1
Send an email to XM: [email protected]
Request that the broker transfer the trading account under the following SAShares Affiliate ID: [SAShares]
For Example:
To: [SAShares]
Subject: Account Transfer Request
“Dear XM Partner/Affiliate Team,
I would hereby like to request that my account be transferred to IB/Partner/Affiliate code [SAShares Code]. Furthermore, I would hereby like to request to be assigned under mentioned IB regardless of whether my account falls under an umbrella or parent IB.”
Step 2
Once you receive confirmation of the transfer from XM, you can create an additional trading account.
Step 3
Lastly, you can send your Trading or Client ID to [SAShares].
For Example:
To: [SAShares]
Subject: New XM Rebate Application
“Dear SAShares Team,
Please view my XM Client ID: 12345 (Your Account, Client, or Trading ID] and inform me whether my rebate application has been accepted.
Overall Rating
- 4.5/5
Min Deposit
USD 5 / 2 075 NGN
Regulators
IFSC, CySec, ASIC
Trading Desk
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
Crypto
No
Total Pairs
57
Islamic Account
Yes
Trading Fees
No (Just spread)
Account Activation Time
24 Hours
Frequently Asked Questions
What is XM’s cashback rebate program for Nigerian traders?
XM’s cashback rebate program allows Nigerian traders to earn rebates based on their trading activity with XM.
How can Nigerian traders participate in XM’s cashback rebate program?
Nigerian traders can participate in XM’s cashback rebate program by opening an account with XM through eligible partners or introducing brokers (IBs) that offer cashback services.
How much cashback can Nigerian traders earn through XM’s rebate program?
Traders can earn forex trading rebates from $2.65 per lot when they trade indices.
The amount that Nigerians can earn on the XM Forex Rebate Program will depend on their trading account, the instrument they trade, their trading volume, and the XM partner through which they sign up.
Are there any additional fees associated with XM’s cashback rebates for Nigerian traders?
No additional fees are charged for participating in XM’s cashback rebate program for Nigerian traders. The rebates are a bonus based on the trader’s trading activity.
How and when are the cashback rebates paid to Nigerian traders?
The forex rebate bonus earned by Nigerian traders are typically paid directly into their XM trading accounts or XM MyWallet. The payment frequency may vary, but XM generally offers regular payments to eligible traders.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
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