💡 No deposit bonuses can be a great way to start live trading without depositing your funds. This opportunity typically comes with several conditions and sometimes is not worth it. XM is a popular broker that is regulated and has been around for some time now. XM no deposit bonus is an XM welcome bonus granted to all new clients. Let’s find out if XM no deposit bonus is worth claiming in this post.
🔍Understanding Forex No Deposit Bonuses
Forex no deposit bonuses are types of bonuses offered by brokers to new traders, enabling them to start trading without their own capital. These bonuses are typically small amounts of money credited to the trader’s live account after signing up or verifying identity. The main appeal of no deposit bonuses is the opportunity for new traders to experience real-market conditions without financial risk.
These bonuses usually come with specific terms and conditions. These may include trading volume requirements, restrictions on profits withdrawal, and limited validity periods. The objective is to familiarize traders with the broker’s platform and trading conditions such as spreads and commissions while encouraging traders to trade with their own funds eventually.
For traders, no deposit bonuses are a great way to learn and practice trading strategies in a live environment. However, it is crucial to read and clearly understand the terms associated with these bonuses to fully benefit from them and avoid any misunderstandings.
💰 $30 XM Welcome Bonus Brief Overview
XM offers a 30 USD no deposit bonus requiring only account sign-up and verification from the trader’s side. This XM bonus 30 USD is equivalent to 25 EUR, 20 GBP, 3000 JPY, 30 AUD, 100 PLN, and 25 CHF. The broker offers a multitude of account base currencies and the bonus will be credited to the trader’s account in their account base currency. With XM 30 USD no deposit bonus traders are provided $30 worth of credit (non-withdrawable) for signing up and opening a first live account. So, the 30 USD XM no deposit bonus is essentially a free credit provided by XM broker to new clients. This bonus is not withdrawable, but traders can use it to start trading and any profits made from this bonus can be withdrawn. Using an XM free $30 no deposit bonus XM provides a platform for new traders to test the waters of Forex trading, understand the broker’s execution quality, and get the real feel of the live trading environment. Shortly, the trading environment is the same for both live trading and trading with XM no deposit bonus.
🏦 Brief Profile of XM broker
XM is a regulated Forex and CFDs broker operating globally. It offers advanced trading platforms MT4 and MT5 for speculating on a multitude of assets:
📈 57 Forex pairs
🏭 1000+ Stock CFDs & 7 Turbo Stocks
💹 31 cryptos
🌾 8 Commodities & 20 Indices
🥇 3 Precious Metals & 3 Energies
XM is regulated by the CySEC of Cyprus and in Belize making it a safe and reliable global partner for traders both beginners and experienced. XM 30 USD bonus can be used on any live account making it a super attractive offer.
🔑XM Account types
XM offers trading account types for all trading styles and methods:
📊 XM Standard account - Spreads from 1 pip, leverage 1:1000, 5 USD min deposit, 0.01 lot min lots, negative balance protection active, MT4, MT5, all assets
📉 XM Micro account - Spreads from 1 pip, leverage 1:1000, 5 USD min deposit, 0.01 lot min lots, negative balance protection active, MT4, MT5, all assets
📈 XM Ultra Low account - Spreads from 0.6 pips, leverage 1:1000, 5 USD min deposit, 0.01 lot min lots, negative balance protection active, MT4, MT5, all assets
🏦 XM Shares Account - min deposit 10,000 USD, leverage 1:1, from 0.01 lots, negative balance protection active, MT5
Traders can claim a $30 XM no deposit bonus on any of the live accounts except the shares account as it requires a 10,000 USD minimum deposit. For scalping strategies, the ultra low account is more suited with its low spreads from 0.6 pips increasing chances of success because of low fees.
XM provides traders with plenty of educational courses targeted at beginners to gain essential knowledge before starting to trade. Support is provided through the advanced live chat and the broker typically responds within seconds making it a very useful tool. The broker has a mobile app for both Android and iOS where all the tools are available and can be used to substitute the official website functionality. MT4 and MT5 come also for mobile devices and one login and password are enough to manage the same trading account on desktop and mobile making it very flexible.
🌟 Who Qualifies for the $30 XM No Deposit Bonus?🌟
This promotion of a deposit bonus is accessible to all traders 🚀 who are opening an XM real account for the first time. However, it's important to note that the availability of this promotion may vary in certain regions🌍. To claim an XM 30 bonus, new clients must do so within 30 days from the date of account registration or the bonus will expire⏳. XM login 30 USD no deposit bonus requires several steps to claim which we will describe in more detail below.
🔑 Step-by-Step Guide to Redeeming the XM Broker Bonus
Here are steps to claim the XM login $30 no deposit bonus:
1️⃣ Step 1: open a real account at XM by registering a real trading account.
2️⃣Step 2: Log in to the Members Area using credentials provided via email to access your XM Members Area.
3️⃣ Step 3: Account verification is required to claim the bonus. Submit the necessary identification documents 📄 to verify your account, if you haven’t already. The two types of documents required for account verification are proof of identity and proof of address. The proof of identity includes an active passport or national ID issued by the government. The proof of address is a document that verifies your location and citizenship. It may be a utility bill or bank statement ensuring you are living where you are claiming to be living.
Recommended next reads
4️⃣ Step 4: Claim your XM 30 bonus by clicking on the designated button to claim your $30 XM bonus.
5️⃣ Step 5: SMS verification is required and can be completed by following the on-screen SMS instructions📲.
📘 Understanding the Terms and Conditions of XM broker bonus
It is crucial to understand the terms and conditions of the XM no deposit bonus:
Here is an example of how no deposit bonus is removed proportionally to the requested withdrawal:
If a trader makes profits of 100 USD then the withdrawable amount is 100 USD. If the trader requests to withdraw 40 USD (40% of the profits), the corresponding 40% of the deposit bonus (40% of 30 USD is 12 USD) will be removed from the no deposit bonus.
Upon breaching any rules of the promotion the trader will be disqualified and the bonus will be removed from the account. This condition is put in place to ensure fair use of the bonus.
🎯 Leveraging the XM trading $30 bonus in Forex Trading
To use the $30 no deposit bonus effectively traders need to follow strict risk management rules. Managing risks is critical when operating a small account as it allows traders to close losing trades early and catch profitable setups more often. One approach for effective trading is to use small position sizes, meaning lower lot sizes of 0.01 (1,000 units of currency). Low lot sizes will allow traders to take losses and stay in the game by preserving their capital and preventing substantial losses that can blow up accounts in a few trades. Another important factor is, during trading trader hone their skills, and the longer they can be in the game, the higher their chances of success they will have.
Using beginner-friendly strategies that require several simple steps can prove useful as overcomplicating the rules can confuse traders. This XM bonus 30 USD should be considered more of a learning opportunity on a live account rather than profits-making capital. Switching from demo trading to a live account is always critical and XM $30 no deposit bonus is a good opportunity to start testing trading with real money without actually investing your money💡.
📊 Trading Strategies Suitable for XM $30 bonus conditions
30 USD is not big capital for Forex trading, but traders can still benefit greatly from it when proper strategies are used. The first and most important aspect is to select a proper trading strategy to grow a small account. Low-risk, short-term strategies like scalping can be more suitable because they allow traders to manage losses effectively allowing them to counteract the constraints of a smaller bonus account. Here are some strategies that can be used to effectively manage a $30 no deposit bonus account and grow it in profits:
🏃♂️ Scalping strategies🏃♂️
Scalping refers to opening and holding trades for extremely short periods usually from minutes to several hours. Best scalping strategies have higher win rates when compared to swing trading or day trading methods. Anything above 70% should be sufficient and ensure the account is growing slowly but consistently. However, where scalping strategies lack is in their lower risk-reward ratio of typically below 1:2.The best approach to deploy a scalping strategy is to backtest it thoroughly on historical data and only then try it on an XM bonus account. If your trading strategy has a 1:1 risk-reward, meaning you risk 1 USD for every potential 1 USD profit, then a win rate equal to or above 70% will be more than enough to achieve profits.
📈 Momentum trading 📈
Momentum trading refers to opening a position in a direction of strong price movement. In momentum trading, it is critical to observe that the assets are moving significantly in one direction on high volume. Technical indicators could be used to get a notification when significant movements occur. Stock traders use stock screeners for the same purpose.
🗞️ News trading🗞️
Warning! Only for experienced traders. News trading involves anticipating powerful macroeconomic news releases and speculating on increased volatility. During major new releases the markets can become extremely volatile and spreads become higher, making it possible to lose a substantial amount of money. For a small account, this threat is even higher, but experienced traders might be able to make profits.
⚠️ Which strategies not to use when trading on XM $30 no deposit bonus⚠️
There are trading strategies that can be disadvantageous when trading on a small account such as XM's $30 no deposit bonus. They typically have a lower win rate, meaning traders will lose more trades than they win. Lower win rate strategies rely on higher risk-reward ratios of sometimes 1:3 and higher. Suitable strategies include low-risk, short-term strategies like scalping or intraday trading, which can be managed effectively within the constraints of a smaller bonus amount.
📈 Trend-following strategies📈
While profitable in the long run, trend-following strategies can be extremely disadvantageous for small accounts. Trend following aims to catch price trends and is known for its lower win rate of around 36-40%. While they more than make for it with risk-reward ratios sometimes exceeding 1:3, in the short term, they can lose a significant amount of money resulting in a margin call or even stopouts. Trend-following strategies typically use higher timeframes and higher stop loss. Consecutive losses are happening quite often and can blow up accounts before profits can be made.
📉Swing trading strategies with lower than 60% win rate🕒
Swing trading with around a 50% win rate and a 1:2 risk-reward ratio can cause a margin call and even stop out if there is a losing streak. With lower win rates chances for losing steaks, a.k.a. Consecutive losing trades are relatively high. Swing strategies typically have larger stop losses making them susceptible to blowing up entire accounts in a few consecutive losing trades.
🛠️ Platform Features and Tools for Effective Trading🛠️
XM provides access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5) both of which are super advanced and popular software accessible for both desktop and mobile devices. XM supports its traders by allowing them to use just one login credential for all MT4 or MT5 apps and software. For example, traders can use the same login and password on their mobile devices as on their desktops. This ensures traders can control their accounts from multiple devices providing flexibility and a comfortable experience. These trading platforms offer all the functionality to achieve maximum results with an XM login $30 bonus.
Both MT4 and MT5 for desktop and mobile offer advanced charting tools, and risk management features like stop loss, trailing stop loss, take profit orders. While both trading platforms support fully automatic trading robots called Expert Advisors (EAs) it is recommended to start manual trading first and only switch to EAs after gaining some basic knowledge. This is because it is always a must to understand the basics of trading and trading strategies before starting to automatize them📊.
🚀 Maximizing Profits and Minimizing Risks🚀
It’s important to adopt solid strategies and risk management principles to make the most out of this bonus. This XM bonus 30 USD serves as a great tool for practicing trading decisions, understanding market dynamics, and learning how to manage trades effectively. We have already mentioned that position sizing and proper trading strategy with a higher win rate are highly recommended for growing small accounts. However, another important factor is to let profits run and cut losses quickly. If you observe that your position is moving sideways in the direction of your stop loss consider closing it early and searching for new trading setups. Conversely, if your position is in profit do not hurry and close it, try to use trailing stop loss or to move stop loss in a breakeven📚.
📝 Navigating Withdrawal Conditions of XM 30$ bonus📝
XM offers by far one of the best no deposit bonus withdrawal policies. The broker allows profits withdrawal making it possible to earn trading capital without investing anything. Together with the profits withdrawals corresponding portion of the bonus is removed as well, something traders will have to keep in mind. If you have an XM free $30 no deposit bonus and make profits you are free to withdraw them which is almost unparalleled in the Forex industry. The vast majority of brokers impose super-strict trading volume requirements typically 50 or more standard lots which is almost impossible to accomplish. XM also requires volume but it is significantly lower and within reasonable amounts. Trading 0.1 lots is much easier than taking large positions with millions of dollars to withdraw the maximum of 100 USD like many Forex brokers allow traders💸.
