XM is a forex broker with a broad client base around the world. It offers excellent trading conditions, educational materials, and easy deposit/withdrawal options.
Traders can withdraw funds using credit/debit cards, Skrill, and Neteller. XM protects its clients’ funds with a segregated account and commits to complete withdrawals within 24 hours of the request.
Credit/debit card
Credit/debit card withdrawals are one of the most convenient ways to withdraw funds. However, XM has a few rules you need to follow to avoid getting charged a fee for this method.
For example, if you deposit money using a card and want to withdraw it, the amount must be the same, or it will be considered a bank transfer. This is to comply with anti-money laundering and terrorism financing policies.
If you don’t meet the rules, XM may decline your withdrawal request. In addition, if you use an e-wallet, you may need to match your deposit and withdrawal methods.
Generally, XM processes withdrawal requests within 24 hours of receiving them. However, the time to process a withdrawal depends on your payment method and processor.
Skrill
Skrill is a popular e-wallet with a wide range of features. It allows customers to send and receive payments online, deposit and withdraw money from their bank accounts, and even use their accounts as mobile wallets.
Many forex brokers accept payments via Skrill. However, these transfers may take 1-5 business days, depending on t, he broker’s conditions.
XM also supports Skrill deposits and withdrawals without any fees from XM’s side, which is rare for forex brokers to offer. Moreover, it covers all payment gateway costs for Skrill deposits and withdrawals.
It would be best if you had the recipient’s email address and reference (order number) to withdraw funds from your Skrill account. The email address must be in your name.
Neteller
Neteller is a popular e-wallet and one of the most trusted options for forex traders. It’s available in over 200 countries and has a high level of security. It’s also easy to open and offers a variety of deposit and withdrawal options.
XM supports Neteller withdrawals and deposits in major currencies, such as EUR, USD, GBP, PLN, and NGN. However, it is essential to remember that Neteller charges a currency conversion fee of 4.49% when using this method.
Withdrawal requests are processed within 24 hours, but funds can take 1-3 days to arrive. Traders can withdraw through various methods, including Visa, Visa electron credit and debit cards, Maestro, Mastercard, Unionpay, and Skrill (e-wallet).
Bank transfer
Bank transfers are one of the best ways to transfer funds. They are fast, secure, and usually free. They can be done online or via phone banking; you don’t need to give your credit card number.
XM forex also offers several different deposit methods. These include debit and credit cards from Visa, Mastercard, and Maestro. There is a minimum deposit of $5, and the funds are instantly credited to your account.
Another popular method is e-wallets like Skrill and Neteller. These are convenient and easy to use, but not all brokers support them.
XM also protects clients’ funds by keeping them in segregated accounts, and they guarantee to complete withdrawal procedures on their side within 24 hours as a rule. They also abolish all withdrawal fees as a general rule and try to reduce their clients’ burdens.
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