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XM Sign Up Bonus

XM offers Nigerian traders a sign-up bonus of $30 when traders first register a retail account. Traders are not limited to a sign-up bonus on XM. XM is a trustworthy broker that has a Trust Score of  89% out of 100. 

Updated : May 22, 2023

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005 regulations book

Sign Up Bonus

005 feature selection

Referral Bonus

001 cash withdrawal

Additional broker bonuses

004 review

Pros and Cons

008 auction

Final Verdict

001 question

FAQ

Overall Rating

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

🏛️ HeadquarteredBelize
🏛️ Nigerian Based OfficeNo
👍 Accepts Nigerian Traders?Yes
📅 Year Founded2009
📱 Nigerian Office Contact NumberNone
⚖️ RegulationFSCA, IFSC, ASIC/AFSL, CySEC, DFSA
🔎License NumberBelize – 000261/158
South Africa – 49976
Australia – 443670
Cyprus – 120/10
Dubai – F003484
⚖️ CBN RegulationNone
✴️ Regional RestrictionsThe United States, Canada, Israel, the Islamic Republic of Iran
☪️ Islamic AccountYes
📈 Demo AccountYes
📈 Retail Investor Accounts4
🚀 Offers a Nigerian Account?No
💻 Dedicated Nigerian Account Manager?No
📈 Maximum Leverage1:888
📈 Leverage Restrictions for Nigeria?No
💳 Minimum Deposit (₦)2,000 Nigerian Naira (equivalent to $5)

💳 Nigerian Naira Deposits Allowed?Yes
💰 Active Nigerian Trader Stats1.3 million
Active Nigerian-based XM customers100,000+

💰 Nigeria Daily Forex Turnover$1.25 million+
💳 Deposit and Withdrawal OptionsCredit Card
Debit Card
Bank Wire Transfer
Local Bank Transfer
Skrill
Neteller
WebMoney
💰 Segregated Accounts with ities
CFDsNigerian Banks?
No
💻 Trading PlatformsMetaTrader 4, MetaTrader 5

💰 Tradable AssetsForex
Stock CFDs
Commodities
Equity Indices
Precious Metals
Energies
Shares
🌐 Offers USD/NGN currency pair?No
🌐 USD/NGN Average SpreadN/A
📈 Offers Nigerian Stocks and CFDsNo
👨‍💼 Languages supported on WebsiteEnglish, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others

👥 Customer Support LanguagesMultilingual
👥 Customer Service Hours24/5
👥 Nigerian-based customer support?No
💰 Bonuses and Promotions for NigeriansYes
✴️Education for Nigerian beginnersYes
📊 Proprietary trading softwareNo
💰 Most Successful Nigerian TraderUche Paragon ($20 million net worth)
✔️Is XM a safe broker for Nigerians?Yes
✔️Rating for XM Nigeria9/10
✔️Trust score for XM Nigeria84%

XM Sign-up Bonus 

XM Sign-Up bonus details

 

XM provides a $30 sign-up bonus exclusively for new traders who join their platform.  

 

When Nigerian traders register a real trading account with XM for the first time, traders are rewarded with a welcome bonus and a no-deposit bonus of $30.  

 

This no-deposit bonus is the best way to let them start trading without making an initial deposit, utilizing the $30 trading credit allocated to their account. 

 

Once the account verification process is complete, the $30 bonus is automatically credited to the trader’s account. Profits generated using the trading credit can be withdrawn according to the applicable terms and conditions. 

 

XM also offers deposit bonuses for traders, including: 

  • A 50% deposit bonus with a maximum value of $500. 
  • A 20% deposit bonus with a maximum value of $4,500. 

 

These deposit bonuses are provided as trading credit, benefiting all trading accounts except the demo account and the XM Ultra-Low Account. 

XM Referral Bonus 

xm refer a friend bonus

 

XM encourages new and existing traders to refer others and earn a referral bonus. To qualify, traders must possess a validated trading account and have traded at least 1 standard lot in forex, gold, or silver. 

 

By referring individuals who successfully register validated real accounts, traders can receive up to $35 in trading credit per referral. The referral bonus structure is tiered as follows: 

  • Referring 1 to 15 friends: Earn $25 for each friend whose trading account is validated. 
  • Referring 16 to 30 friends: Earn $30 for each friend whose trading account is validated. 
  • Referring more than 30 friends: Earn $35 for each friend whose trading account is validated. 

Additional broker bonuses, promotions, and rewards 

xm promotions

 

Apart from the sign-up and referral bonuses, XM offers a range of broker bonuses, promotions, and rewards. Noteworthy incentives include: 

  • The Gold Promotion: A captivating lucky draw where traders can win prizes totalling over $22,500. 
  • The XM Loyalty Program: A rewarding program granting loyal customers access to exclusive seasonal bonuses as a token of appreciation for their loyalty. 

XM Pros and Cons

✔️Pros❌Cons
Provision of welcome and sign-up bonuses for new traders upon opening a real accountUnavailability of bonuses for demo account holders
Availability of no-deposit bonus, enabling immediate tradingPresence of strict terms and conditions governing the bonuses
Opportunity to earn a referral bonus
Offers a broker bonus to active traders

 Verdict on XM

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.

Overall Rating

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 the XM sign-up bonus? 

The XM sign-up bonus rewards new traders registering a real trading account with XM. It includes a welcome bonus and a no-deposit bonus of $30, allowing traders to start trading without making an initial deposit. 

 

Can I withdraw the profits earned from the sign-up bonus? 

Yes, traders can withdraw any profits generated while using the sign-up bonus 

 

How can I earn a referral bonus with XM? 

To earn a referral bonus, you must have a validated trading account with XM and have traded at least 1 standard lot in forex, gold, or silver. You can receive up to $35 in trading credit per successful referral by referring others who register validated real accounts. 

 

Does XM offer any additional bonuses or promotions? 

Yes, XM provides various broker bonuses, promotions, and rewards. These include special competitions, trading bonus, lucky draws, loyalty programs, and seasonal bonuses.  

In addition, Nigerian traders can enjoy additional benefits beyond the sign-up and referral bonuses. 

 

Can demo account holders access the sign-up bonus or other bonuses? 

Typically, demo account holders cannot access bonuses such as the sign-up bonus or other promotional offers. Bonuses are typically exclusively available for live trading accounts.  

 

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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