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How to get XM no deposit bonus in South Africa

XM No Deposit Bonus — 2022 Update

Forex is the largest financial market in the world, and beginners have many opportunities for risk-free learning. Demo accounts and educational resources are offered by most brokers worldwide. XM, a regulated company with 10+ years of experience, has an exclusive offer for South Africa. Now, local traders can dip their toes in the live market without real money. Here are the main things to know about this bonus in 2022.

How Does the Bonus Work?

According to XM broker review South Africa, any trader who signs up for a real account with XM is entitled to a free bonus of 30 US dollars. As this is a “no deposit” gift, you don’t have to transfer any money to collect it. Traders using another base currency receive the equivalent of 30 USD — for example, 347 ZAR for South Africans.

Your results in the market do not matter — even if you lose the entire bonus, you are not obliged to compensate for the loss. However, the bonus is non-withdrawable, so you can only collect profit made from trading with it. 

Eligibility Conditions

Getting the bonus is easy, as there are just a few rules. Traders who try to game the system by opening multiple accounts lose their chance to benefit from this offer.

  • The bonus is only available for new clients — i.e., users who do not yet have an account with XM. 
  • You must be at least 18 years old and eligible to trade in compliance with the laws of South Africa.
  • The bonus is provided only once, and it is linked to a specific IP address. 
  • Opening multiple accounts to collect the bonus more than once is prohibited.
  • The bonus is not transferable to other real accounts.

How Can I Get the Free Bonus?

Claiming the gift is a piece of cake. All you need to do is register an account for real trading with the broker. Just head over to its official website and open the promotions page. At the moment, this free bonus is offered alongside the deposit bonus.

Once you click on the button for more information, you will be transferred to the bonus page. We have broken down the procedure into four simple steps:

1. Open a real account

Fill out the registration form with your personal details and contact information. You will be asked to provide your full name, country of residence and preferred language. Double-check your phone number and email address. 

The form includes two important choices — trading platform and type of account. In terms of software, XM works with both versions of MetaTrader (4 and 5). Beginners feel more comfortable using MT4 as its interface is more simple. MT5 is typically picked by seasoned traders aiming to expand portfolios through complex instruments.

The type of account does not affect your bonus. At XM, traders can choose from 5 accounts for different trading goals: 

  • Micro (minimum deposit $5), 
  • XM Standard (minimum deposit $5), 
  • XM Zero, 
  • XM Ultra-low Micro/Standard (minimum deposit $50),
  • XM Shares (minimum deposit $10,000). 

To register any of these accounts, you must select a base currency, leverage, and bonus. Finally, specify investor details, including your employment status, the amount you plan to trade with, and a few other details.

2. Login to the members’ area

The broker will send an email with your credentials. Use them to enter the members-only area.

3. Validate your details

Before providing the bonus, XM will verify your identity. Click on the corresponding button in the members’ area and upload your ID and proof of residence. The latter could be a utility bill or a bank statement issued within the last 6 months. Validation may take several days.

4. Claim your free bonus

Login to your trading account and click on the bonus button to claim it! You can use voice verification or request a text with a verification code. The money will be credited to your account within 30 minutes. In rare cases, this period is extended to 24 hours. 

xm no bonus

Withdrawal Conditions

After trading for a while and making your first profit, you can collect it. The bonus amount ($30) will be detected proportionately. To qualify for withdrawals, you have to meet these requirements:

  • 5 or more round turn-trades;
  • 0,1 standard lots in your account.

XM’s Stellar Track Record

Whether you want to become a scalper, a swing trader or a position trader, XM has got you covered. It is a trusted broker regulated in different jurisdictions around the world. It has been in business for over a decade and has earned a reputation for excellence. Traders in South Africa can take advantage of its comprehensive support, generous promotions and state-of-the-art technologies. 

XM is a customer-centric company with transparent policies. Like other reputable brokers, it informs clients of trading risks and suggests optimal strategies. Your data and deposits are safe on the platform, as the company uses state-of-the-art systems for cyber defence.