When it comes to getting started in Forex trading, many brokers offer what is known as a "no deposit bonus." This is an attractive opportunity for new traders to explore the market without risking their own money. One such offering is from XM Group, a Forex broker that provides a no deposit bonus specifically designed for new clients in select countries.
Bonus Amount
XM offers a USD 50 no deposit bonus exclusively for residents of Oman, Singapore, Malaysia, the UAE, Kuwait, Bahrain, and Brunei. In other regions, new clients may qualify for a USD 30 no deposit bonus. This allows you to start trading with the bonus amount without making any initial deposit.
Eligibility
To take advantage of the no deposit bonus, you must be a new trader. Unfortunately, existing clients are not eligible for this offer. Moreover, clients registered under certain entities, such as Trading Point of Financial Instruments and Trading Point of Financial Instruments UK Ltd, are also excluded.
Requirements
To claim the no deposit bonus, you need to follow a few straightforward steps:
- Open a new live account with XM.
- Verify your mobile number through the client’s area.
- Depending upon your eligibility, you will receive the no deposit bonus.
Withdrawal Conditions
Under XM’s terms and conditions, any profits generated from trading using the no deposit bonus can be withdrawn. However, if you make a withdrawal of funds, it will proportionally reduce your trading bonus. This means it’s important to be aware of how withdrawals could affect the bonus you have received.
Expiry Date
One of the key advantages of the XM no deposit bonus is that there is no initial deadline for claiming the offer. This gives new traders ample time to consider and apply for the bonus at their convenience.
Additional Important Points
- The bonus may not be available to traders from certain other regions, so it’s advisable to contact XM’s live support before applying to confirm availability in your area.
- You need to be at least 18 years old, or of legal age in your country, to qualify.
- The bonus can only be claimed once per unique IP address and is strictly limited to one bonus account per eligible client.
- Automated trading tools can be used, but certain trading strategies, such as scalping and news trading, are not allowed.
- It might take up to 24 business hours for the bonus to be credited to your account after meeting the requirements.
Here are the promotion details in a simple table format:
| Promotion Details | Information |
|---|---|
| Bonus Amount | USD 50 for specific countries; USD 30 for others |
| Eligibility | New traders only; no existing clients or clients of certain entities eligible |
| Requirements | Open a live account, verify mobile number, and meet eligibility criteria |
| Withdrawal Conditions | Profits can be withdrawn; withdrawal of funds reduces the bonus |
| Expiry Date | No initial deadline |
| Legal Age Requirement | Must be 18 or of legal age in your country |
| Trading Restrictions | Automated trading allowed; scalping and news trading not permitted |
| Bonus Credit Time | Up to 24 business hours after verification |
| Joining Link | NON-DEPOSIT-PROMO |
In summary, the XM no deposit bonus is a fantastic opportunity for new traders to dive into Forex trading without financial risk. Just be sure to read and understand the terms and conditions to maximize this offering.
If you want in discovering more about how Forex no deposit bonuses work, make sure to visit our Forex No Deposit Bonus page. We’ve put together all the relevant insights you need to know about claiming bonuses, the terms and conditions that you must follow, and how to increase your trading potential without a starting investment.