Trading in XM is not only about trying to gain profits but also earning rewards from every lot traded. Here's everything you need to know about it.
Forex trading has become more and more popular in the last decade. It can be a rather exciting and productive way to spend your time, considering that the potential profit that you can get is pretty high. Aside from the actual trading, there are actually several other paths to make extra income. This can come in the form of bonuses, free credits, discounts, gifts, or other rewards.
Many forex brokers are now offering various types of bonus programs to attract clients and boost their satisfaction. One of them is XM, a broker that has been around since 2009 and is known for providing excellent brokerage services. Through its loyalty program, XM introduces a benefit where traders can earn extra rewards from each lot they trade.
Introduction to XM Loyalty Program
A loyalty program is a type of bonus given to clients as a form of reward for their loyalty. Many forex brokers offer this sort of program to form a positive relationship with their existing clients and at the same time, attract potential clients to join the broker. The rewards can come in many forms such as credit points, bonuses, special privileges, and more.
In XM loyalty program, you can earn XM Points (XMP) that can be redeemed for credit bonus rewards. You can then use the credit bonuses for trading and withdraw the profit at any time you want. All you need to do is trade with a live account and earn the points afterward. So, the more you trade, the more you earn.
Where to Find the Information on the Official Broker Site?
- This information is reported per Jan 13 2023.
- We can not ensure if this offering is still available or remain the same in future.
- The broker announcement page may or may not exist anymore, You may explore XM homepage and try to find "Promotion" section on the menu, footer, etc, to ensure the availability and validity of this promotion.
How to Join the Loyalty Program
The loyalty program is available to all XM users. There is no form to fill out and nowhere to sign up because all users are automatically registered in this program. The first step is simply to open a live trading account in XM and become an XM user. Then, fund your account and use it to open trades.
As soon as you deposit some funds into your account for the first time and close your first trade, your loyalty status will be activated. You will also start earning XM points, which can be accumulated over time and converted into credits.
Loyalty Status and Rewards
As mentioned before, you will get XM Points simply for executing trades. More specifically, you will earn points for every standard round-turn lot traded. The amount of points you'll get depends on your loyalty status. The higher your status, the more points you will earn per lot traded.
XM Loyalty Program has 4 tiers of loyalty statuses and each has different requirements and privileges. Here are the details:
|After 30 days of trading
|After 60 days of trading
|After 100 days of trading
|10 XMP per lot
|13 XMP per lot
|16 XMP per lot
|20 XMP per lot
|After 30 days of inactivity
|After 60 days of inactivity
|After 100 days of inactivity
All retail clients start at the Executive level, then it will be upgraded automatically after a certain period of trading. With each upgrade, the amount of XM Points you'll earn also increases. This allows you to accumulate points at a faster rate and earn more credits to trade.
In the Member Area, you can check your current loyalty status as well as your balance XMP, including the equivalent value of your XMP as the credit bonus.
It is worth mentioning that your XMP has an expiration date and you can lose your status after being inactive for a certain period of time. If this happens, your status will be reset back to the Executive level. So, make sure to regularly check your bonuses and manage them accordingly.
Once you earn some XMPs, you can immediately convert them into credit bonuses. The amount of credit that you'll get is one-third of your XMP amount. So, for instance, if you have 300 XMP, you can get a $100 credit to be used for trading purposes only. You can withdraw the profit generated from trading with the credits, but keep in mind that this will result in the proportional removal of your trading bonus as well as the corresponding credit amount.
How to Redeem Your XM Points
- Open your Member Area and view your current XMP balance.
- Click the "Redeem Now" button.
- On the next page, you'll need to specify the amount of XMPs that you wish to redeem.
- The bonus credits will be automatically deposited into your trading account so that you can use them for trading purposes.
Aside from offering various instruments and flexible trading conditions, XM also has a loyalty program that rewards traders with XM Points for merely doing their usual trading routine. There is no need to fill out a new registration form or pay additional fees, so it is very convenient for any trader. It can be a great way to increase your trading position as well as potential profit without having to put in a great amount of extra effort. Just remember not to overtrade and only trade with the money that you can afford to lose.
XM broker is an established international firm and has become a true leader in the trading industry. Founded in 2009, the company works with the main principle of being "fair, trustworthy, and dependable". XM claims to support no re-quotes and real-time execution, where traders can choose from 10+ trading platforms suitable to any device.