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.
Sign Up Bonus
Additional broker bonuses
Pros and Cons
|🏛️ 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
Bank Wire Transfer
Local Bank Transfer
|💰 Segregated Accounts with ities|
|💻 Trading Platforms||MetaTrader 4, MetaTrader 5
|💰 Tradable Assets||Forex
|🌐 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 Sign-up Bonus
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 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
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
|Provision of welcome and sign-up bonuses for new traders upon opening a real account||Unavailability of bonuses for demo account holders|
|Availability of no-deposit bonus, enabling immediate trading||Presence 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.
USD 5 / 2 075 NGN
IFSC, CySec, ASIC
Desktop MT4 and MT5, Mobile MT4 and MT5, XM mobile app, Web platform
No (Just spread)
Account Activation Time
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.
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.