XM Refer a Friend bonus offers rewards up to $35 per friend. Interestingly, the referee will also earn $50 after verifying their account and open some trades.
Refer a Friend program is a marketing initiative offered by brokerage firms, often in the financial or trading industry, where existing clients are encouraged to refer their friends, family members, or acquaintances to become new clients in said broker.
Refer a Friend bonus is one of the most popular bonus programs. One of the best examples of this is XM's referral promotion.
It is designed to reward you as you introduce more friends to their platform. For each friend you invite, you have the chance to earn $35. The more friends you bring in, the more you'll earn.
What else should you know about the XM Refer a Friend bonus program?
Where to Find the Information on the Official Broker Site?
- This information is reported per Aug 28 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 Does XM Refer a Friend Bonus Work?
To become a referrer in the XM Refer a Friend bonus, you must have a verified XM real trading account. After that, Log in to your Members Area and proceed to the dashboard. Here, you'll discover a distinct referral URL that can be utilized to invite your friends through email or by sharing the URL directly. There's no limit to how many friends you can invite.
The amount you earn for each referral follows this pattern:
- $25 per friend for referring 1-15 friends.
- $30 per friend for referring 16-30 friends.
- $35 per friend for referring 30 friends.
You earn a cash reward when you bring someone new to XM broker using your special link. This happens when the person you refer (referee) opens, verifies, puts money into their account, and trades a minimum of 3 standard lots.
The referee can pick whichever instrument they want from Forex, Gold, or Silver. Once they do all that, the referee will get $50 in their trading account.
This achievement lets them become a referrer, too. That means they can invite their friends and acquaintances to join XM.
Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).
XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.
In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.
Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.
To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.
For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.
XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).
All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.
For their global approach, XM has ensured that traders from various countries could access their service easily. This results in the provision of different domains specified for traders in certain jurisdictions. For example, traders from Indonesia could access XM via this link.
XM Refer a Friend Conditions
There are several terms and conditions regarding XM Refer a Friend program that you should know. This is very important since some are related to your eligibility as a referer or referee.
- A successful referee is an individual registered in XM live account through a link the referrer provides.
- Upon verification, the referee will receive a $50 bonus in their trading account, while the referrer gets $35 (per friend).
- A referee is allowed to participate in Refer a Friend bonus given that they manage to fulfill the requirement set by XM.
- The rewards will be given to the participants once the broker decides that there is no fraud or illegal trading activity.
- If XM finds any fraud or the participants violate the agreement, the company can exclude the participants from this program.
- Only referees with over 5 minutes of trading time can participate in the XM Refer a Friend program.
- The referrer cannot invite the same person as a referee twice or another trader with an existing XM trading account.
Can You Withdraw?
It's not uncommon for a broker to prohibit you from withdrawing your rewards. Most brokers would only allow you to use the rewards for trading or investing again. But, luckily, in XM you can withdraw the rewards. When you earn rewards from the XM Refer a Friend program, they're automatically added to your "MyWallet."
So, how do you withdraw your rewards from XM refer a Friend bonus?
- First, go to your Members Area's "MyWallet" dashboard to get the rewards.
- You will see your total balance there. Pick how much you want to take out or move to your trading account.
- Remember that there might be conversion fees if your account's money isn't USD.
Moving money from MyWallet to your XM broker account is like using any other payment method. You can still get deposit bonuses per the XM Bonus Program rules.
Benefits of XM Refer a Friend Bonus
XM Refer a Friend program benefits the referrer (existing client) and the referee (friend being referred). Here are the benefits associated with XM's Refer a Friend program:
For the Referrer
- Cash Reward: Referrers can earn a cash reward for each successful referral. The reward amount may vary based on the number of referrals and the terms of the program.
- Increasing Rewards: The more friends a referrer refers, the higher their potential earnings. XM's program has a tiered reward structure based on the number of referrals.
- Easy Participation: Referrers receive a unique referral link they can share with friends through various communication channels such as email, social media, or direct sharing.
- Additional Income: Participating in the Refer a Friend program can provide an additional income stream aside from profits from trading.
For the Referee
- Account Funding Bonus: Referees receive a bonus when they fund their new trading account with XM. This bonus provides additional capital to help them get started, explore the platform, and learn how trading works.
- Support from Friends: Referees may feel more comfortable signing up with XM if they are referred by a friend already using the broker's services.
- Enhanced Trading Experience: With the bonus, referees can potentially trade larger positions, explore different instruments, and try various trading strategies.
The XM Refer a Friend bonus program is a testament to XM's commitment to its existing clients and potential new traders. XM rewards its loyal customers and fosters community in its trading ecosystem by offering a lucrative incentive for referring friends and acquaintances. This program underscores the company's dedication to enhancing the trading experience and building lasting client relationships.
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.