XM Fund Withdrawal Process
Overall, XM offers a simple fund withdrawal process for their 4 live trading accounts for Nigerian Traders. Withdrawing funds could take up to 2-5 business days depending on the payment method chosen.
- Louis Schoeman
Jump to:
Fund Withdrawal Step by Step
Detailed Withdrawal Information
Terms and Conditions
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.5/5
XM Fund Withdrawal Process – 6 key points quick overview:
How to Withdraw Funds Step by StepHow to Withdraw Funds Step by Step
Nigerian traders who want to withdraw funds from their XM trading account can follow the following few steps:
Step 1 – Log in to your XM account.
Visit the official XM website and log in to your trading account using your credentials.
Step 2 – Click on the “Withdrawal” button.
Once logged in, locate and click the “Withdrawal” or “Withdraw Funds” option. This will direct you to the withdrawal interface.
Step 3 – Choose the withdrawal method.
XM offers various withdrawal methods for Nigerian traders. Choose the method that suits you best, such as bank wire transfer, credit/debit card, or electronic wallets like Neteller or Skrill. Specify the amount you wish to withdraw from your XM account. Ensure that the amount is within the available balance in your trading account.
Step 4 – Enter your banking details.
Depending on the withdrawal method, you may need to provide additional details, such as your bank account information or wallet address. Fill in the required information accurately. Carefully review the withdrawal details, including the amount and chosen withdrawal method. Once satisfied, click the “Submit” or “Confirm” button to proceed with the withdrawal request.
XM Detailed Withdrawal Information for Traders
Follow the instructions to withdraw funds from your XM account, and your withdrawal request will be processed within 24 hours. The funds will then be sent to the withdrawal account you specify, a bank account, or a digital wallet.
| 📜 Payment Method | 📈 Deposit Currencies | 👛 Deposit Processing | 💰 Withdrawal Processing |
| Credit Card | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 2 to 5 working days |
| Debit Card | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 2 to 5 working days |
| Bank Wire Transfer | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | 1 working day | 3 to 5 working days |
| Local Bank Transfer | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | 1 working day | 3 to 5 working days |
| Skrill | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 1 working day |
| Neteller | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 1 working day |
| WebMoney | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR | Instant | 1 working day |
Fund Withdrawal Terms and Conditions
For Nigerian traders with XM, the following information applies regarding withdrawals:
- When making withdrawals, XM prioritizes the following order for clients who have used multiple deposit methods: credit cards, e-wallets, and bank transfers.
- XM allows withdrawals only to accounts under the same name as the trading account holder. This measure ensures the security of clients’ funds and helps prevent fraudulent activities.
- While XM typically processes withdrawals within 24 hours, it is important to note that processing times may be longer during busy periods, such as public holidays or high trading volume.
- The minimum withdrawal amount on XM depends on the chosen withdrawal method, but it generally starts at $5.
- XM does not charge fees for the first five withdrawals in a calendar month. However, please be aware that some withdrawal methods may have fees imposed by the payment provider.
- Clients might require additional documentation to verify their identity before a withdrawal can be processed. But, again, this complies with anti-money laundering regulations.
- Withdrawals will be processed up to the amount of the original funds deposited. Any profits earned from trading can be withdrawn separately at a later time.
XM Pros and Cons
| ✔️ Pros | ❌ Cons |
| Nigerians have access to reliable withdrawal methods | Instant withdrawals are not available on the withdrawal methods supported by XM |
| The withdrawal process is quick and processed once a withdrawal request is received | Nigerians cannot withdraw in NGN and might face currency conversion fees |
| Withdrawal fees do not apply to any payment method |
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
XM Final Verdict
XM aims to make a positive difference in the lives of people around the world despite their religion, culture, or their ethical background, helping them achieve their potential. XM is involved in the following initiatives:
- Education and Skills Development by initiating projects that can help people get the education that they need. These initiatives also help individuals develop essential vocational skills.
- Research and Development – XM contributes to research along with development and innovation initiatives that serve a greater purpose.
- XM and its dedicated team have teamed up with local and international active human aid foundations to try and make the world a better place.
FAQ
What is the process for withdrawing funds from my XM account as a Nigerian trader?
To withdraw funds from your XM account, log in, navigate to the withdrawal section, select your preferred withdrawal method, enter the withdrawal amount, and submit the request.
What withdrawal methods are available for Nigerian traders with XM?
XM offers various withdrawal methods, including bank wire transfers, credit/debit cards, and e-wallets like Neteller and Skrill, among others.
What is the minimum withdrawal amount on XM for Nigerian traders?
The minimum withdrawal amount on XM varies depending on the chosen withdrawal method. Still, it is generally $5 or equivalent to Nigerian Naira (currency conversion fees might apply, and Nigerians might be forced to use other supported currencies such as USD).
Does XM charge any fees for withdrawals made by Nigerian traders?
XM does not charge fees for the first five withdrawals made in a calendar month, but some withdrawal methods may have fees imposed by the payment provider.
Will I need to verify my identity before a withdrawal can be processed with XM in Nigeria?
Yes, XM may require additional documentation to verify the identity of Nigerian traders before processing a withdrawal, according to anti-money laundering regulations.
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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