Adam Rosen - Lead financial writer
For whatever reason you may wish to close or delete your live XM trading account. XM is a multi-asset broker that was established in 2009 and is headquartered in Cyprus. XM offers trading in Forex, Stock CFDs, Commodity CFDs, Minors, Majors, Exotics, Equity Indices CFD, Energies CFD, Precious Metals to over 10,000,000 clients. There are a few ways to close and deactivate your live XM account including online, through email and even through the post. Closing your XM account will take around 3 to 10 days depending on your circumstances. There are a few things you will need to check before you close your XM acccount as once your XM account is fully deactivated, any trading research and available XM funds or any other data that remains needs to be in your possession. Once XM trading platform access is lost.
It is now possible to close your XM account within three days, provided that all of your XM positions have been closed and all available XM funds have been withdrawn.
Although there are thousands of people who use XM, at some point you may want to close your XM account. It only takes a few clicks of a button to delete your XM account if you decide you've had enough of the XM platform and no longer want to use it.
Before you close your XM account, double check that all open trades have been closed and that you have withdrawn the full amount of money from your available XM balance.
You can log in to your XM account using the email address that you provided during the XM registration process in order to terminate your XM account. Send an email to [email protected] requesting that your XM account be closed. The email should contain your XM account deactivation and closing request.
To delete your XM account, go to https://www.xm.com and then follow the instructions that are provided on the XM website. If you have any questions or concerns about deleting your XM account.
You can send a letter to the XM head office in 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus to request that your live XM account be closed. closing your XM account via post will take allot longer and you will want to know if XM recieved your XM account closing letter.
XM requires three to ten business days to close your account, and their may be some associated fees when closing your XM acccount. XM accounts with available funded balance may take longer if you do not provide XM with a withdrawal method and verify your ID.
When an XM account is closed, it cannot be reopened under any circumstances; however, a new XM account can be created at any time by using a different username and email address. Your XM trading history and data will be wiped clean from any previous XM transactions that you have closed, as well as any active XM accounts you have had in the past.
You are free to create as many XM accounts as you like. You will need to register with XM with the same name and documents as you did when you created your previous XM account in order to do this. You will, however, be required to create a new XM login name and email address for your new XM accounts.
The majority of newcomers struggle with fundamental issues such as risk management, which frequently results in significant financial losses with brokers like XM. People typically decide to close their trading account on XM because they no longer wish to participate in the XM platform's trading activities. Its possible you have trading accounts else where and you wish to close up XM or you are looking for an XM alternative.
It's possible that you have an XM account in which you haven't executed a live buy or sell order in a few months. If this is the case, your XM account may be marked and dormat and eventually locked.
Because XM does charge inactivity fees for XM dormant accounts, you should make sure to close any XM accounts you have with XM that you no longer intend to use.
You can take money out of your XM account whenever you like by using the XM trading platform or going to the website https://www.xm.com.
In order to accomplish this, you will need to take any remaining money out of your XM broker account, which is a process that is also known as final XM balance withdrawal.
There is a wide variety of withdrawal methods offered by brokers like XM, as well as differences in the amount and speed of withdrawal speeds depending on your chosen XM withdrawal method.
You are permitted to withdraw funds from your XM account up to the value of the available funds in your XM account at any given time. Because you are not required to keep any money in your XM account, you are free to withdraw the entirety of your XM balance whenever you see fit. Remember that any XM funds that you withdraw will be put back into the same account that they came from when you made the XM deposit. This is the most important thing to keep in mind.
It is possible that you will be required to provide an alternative method in order to withdraw money from XM if your details have changed since the time that you initially deposited the XM funds.
When you withdraw money from XM, the process is not instant; rather, it typically takes at least several business days for the money to reach you. XM withdrawal times differ depending on the selected payment method in your XM dashboard.
If all of the information associated with your XM account is accurate, the processing of your request to withdraw funds from your XM account may take up to one to ten business days. The amount of time it is estimated to take to receive payment from XM after a withdrawal has been processed varies entirely according to your chosen method of payment and is dependent on the 3rd party payment service provider supported by XM.
Because there is a possibility of delays when withdrawing large sums of money from an XM account, we recommend getting in touch with your financial institution in advance. Additional XM waiting time may be incurred due to the placing of a security hold on large XM withdrawals. Please check with your financial institution before initiating a XM withdrawal because the processing times associated with each XM withdrawal method are unique.
While your XM account is 'Under Review', you will still be able to withdraw funds from it; however, you will need to have funds that are eligible for XM withdrawal in order to complete the withdrawal process. Once your XM withdrawal request has been processed by XM and the withdrawal process has been finished, you will be notified via email that the request has been fulfilled.
It is important that you understand that you can only withdraw XM money into accounts that are under your own name.
Because 3rd party fees for XM international bank transfers and wire transfers can be quite high, you should make it a habit to double check whether or not this is something that will be applicable to the XM closing transactions you conduct.
At XM, the withdrawal of funds for basic transactions is free of charge. You will be subject to an additional fee by your 3rd part XM withdrawal method for currency conversion if you choose to withdraw funds in a currency other than US dollars (USD). The prices of the XM withdrawal services may shift at any time in response to shifts in the market conditions.
The majority of withdrawal requests made to XM are processed free of charge through common withdrawal methods like Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Moneta, ABAQOOS, PRZELEWY24, Neteller, PerfectMoney, WebMoney, UnionPay, FasaPay, CashU, Payza, QIWI, SOFORT, Giropay, Payoneer, Skrill.
On your iOS or Android device when the app list window displays, touch and hold the XM app icon until it appears, and then pick the option to Remove App from the menu. After opening the app drawer, which is where all of your apps including XM are kept, you may move them to the Uninstall area (on Android) on the left side of the screen by dragging and dropping them there. From that screen, select the Delete XM App option to confirm that you wish to remove the XM application from your phone. Tap the minus sign or the X to delete XM applications, which is the quickest and easiest method to remove XM applications from your device.
If you have downloaded XM to your PC or Mac computer you can uninstall any XM software and remove XM from your web browser.
You can get in touch with XM customer support via e-mail, the phone, or live chat if available if you don't feel like closing your XM account. As long as your XM close account status is 'Under Review' or 'In Progress', you may cancel your XM account closure request by contacting XM customer support.
🤴 XM is Used By: 10,000,000
⚡ XM is Regulated by: Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC)
💵 What You Can Trade with XM: Forex, Stock CFDs, Commodity CFDs, Minors, Majors, Exotics, Equity Indices CFD, Energies CFD, Precious Metals
💵 Instruments Available with XM: 1000
📈 XM Inactivity Fees: Yes
💰 XM Withdrawal Fees: No
💰 XM Payment Methods: Credit cards, Debit cards, Bank Transfer, Electronic wallets (eWallets), Moneta, ABAQOOS, PRZELEWY24, Neteller, PerfectMoney, WebMoney, UnionPay, FasaPay, CashU, Payza, QIWI, SOFORT, Giropay, Payoneer, Skrill,
💰 XM Account Base Currencies:
XM Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.74% of retail investor
accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford
to take the high risk of losing your money.
🤴 IC Markets is Used By: 180,000
⚡ IC Markets is Regulated by: Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC)
💵 What You Can Trade with IC Markets: Forex, Majors, Energies, Metals, Agriculturals,
💵 Instruments Available with IC Markets: 232
📈 IC Markets Inactivity Fees: No
💰 IC Markets Withdrawal Fees: No
💰 IC Markets Payment Methods: Credit Cards, VISA, MasterCard, Debit Cards, Visa, MasterCard, Bank Transfer, PayPal, Neteller, Neteller VIP, Skrill, Poli, Cheque, BPAY, UnionPay, FasaPay, QIWI, RapidPay, Klarna, Electronic wallets (eWallets), Broker to Brokers, Thai Internet Banking, Vietnamese Internet Banking,
💰 IC Markets Account Base Currencies: USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, HKD, NZD
IC Markets Risk warning : Losses can exceed deposits
🤴 Roboforex is Used By: 10,000
⚡ Roboforex is Regulated by: RoboForex Lid is regulated by Belize FSC, License No. 000138/7, reg. number 000001272
💵 What You Can Trade with Roboforex: Forex, Minors, Majors, Exotics, Indices, Metals,
💵 Instruments Available with Roboforex: 100
📈 Roboforex Inactivity Fees: No
💰 Roboforex Withdrawal Fees: Yes
💰 Roboforex Payment Methods: Credit cards, VISA, MasterCard, JCB, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Perfect Money, AdvCash, BPAY, China UnionPay, FasaPay, CashU, WeChat Pay, ecoPayZ, AstroPay, Sofort, Giropay, Poli, Wepay, iDEAL, Payoneer,
💰 Roboforex Account Base Currencies: USD, EUR, XAU
Roboforex Risk warning : Losses can exceed deposits
🤴 AvaTrade is Used By: 200,000
⚡ AvaTrade is Regulated by: Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI)
💵 What You Can Trade with AvaTrade: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, Agriculturals, ETFs, IPO, Bonds,
💵 Instruments Available with AvaTrade: 1000
📈 AvaTrade Inactivity Fees: No
💰 AvaTrade Withdrawal Fees: No
💰 AvaTrade Payment Methods: Credit cards, VISA, MasterCard, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, WebMoney, Payoneer,
💰 AvaTrade Account Base Currencies: USD, GBP, EUR, JPY, AUD
AvaTrade Risk warning : 71% of retail CFD accounts lose money
🤴 FP Markets is Used By: 10,000
⚡ FP Markets is Regulated by: Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Financial Services Authority (St. Vincent and the Grenadines)
💵 What You Can Trade with FP Markets: Forex, Minors, Majors, Exotics, Indices, Metals,
💵 Instruments Available with FP Markets: 100
📈 FP Markets Inactivity Fees: No
💰 FP Markets Withdrawal Fees: No
💰 FP Markets Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, BPAY, POLi, PayPal, Neteller, Skrill, PayTrust, NganLuong VN, Fasapay, Broker to Broker, OnlinePay China, Directa24, Klarna, PayTrust88, Payoneer,
💰 FP Markets Account Base Currencies: USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, HKD, NZD
FP Markets Risk warning : Losses can exceed deposits
🤴 NordFX is Used By: 10,000
⚡ NordFX is Regulated by: Cyprus Securities and Exchange Commission (CySEC), License No: 209/13
💵 What You Can Trade with NordFX: Forex, Majors, Metals,
💵 Instruments Available with NordFX: 50
📈 NordFX Inactivity Fees: No
💰 NordFX Withdrawal Fees: No
💰 NordFX Payment Methods: Bank Transfer, Neteller, PerfectMoney, WebMoney, FasaPay, CashU, Payza, QIWI,
💰 NordFX Account Base Currencies: USD, EUR
NordFX Risk warning : Losses can exceed deposits
🤴 XTB is Used By: 250,000
⚡ XTB is Regulated by: Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comision Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa
💵 What You Can Trade with XTB: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Pennystocks, Energies, Metals, Agriculturals, ETFs,
💵 Instruments Available with XTB: 4000
📈 XTB Inactivity Fees: Yes
💰 XTB Withdrawal Fees: No
💰 XTB Payment Methods: Credit cards, MasterCard, Maestro, Visa, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, Skrill, Poli, Paysafe, Payoneer,
💰 XTB Account Base Currencies: USD, GBP, EUR
XTB Risk warning : 76% - 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
🤴 Pepperstone is Used By: 89,000
⚡ Pepperstone is Regulated by: Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217
💵 What You Can Trade with Pepperstone: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals,
💵 Instruments Available with Pepperstone: 100
📈 Pepperstone Inactivity Fees: Yes
💰 Pepperstone Withdrawal Fees: No
💰 Pepperstone Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Neteller, BPAY, POLi, UnionPay, FasaPay, QIWI, Payoneer,
💰 Pepperstone Account Base Currencies: USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, HKD
Pepperstone Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money
🤴 eToro is Used By: 20,000,000
⚡ eToro is Regulated by: Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC)
💵 What You Can Trade with eToro: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, Agriculturals, ETFs,
💵 Instruments Available with eToro: 2000
📈 eToro Inactivity Fees: Yes
💰 eToro Withdrawal Fees: Yes
💰 eToro Payment Methods: Credit cards, VISA, MasterCard, Maestro, Debit Cards, Bank Transfer, PayPal, Neteller, Skrill, WebMoney, Giropay, eWallets,
💰 eToro Account Base Currencies: USD
eToro Risk warning : 51% of retail investor accounts lose money when trading CFDs with this provider.
🤴 FXPrimus is Used By: 10,000
⚡ FXPrimus is Regulated by: Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Vanuatu Financial Services Commission (VFSC)
💵 What You Can Trade with FXPrimus: Forex, Minors, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals,
💵 Instruments Available with FXPrimus: 130
📈 FXPrimus Inactivity Fees: No
💰 FXPrimus Withdrawal Fees: Varies
💰 FXPrimus Payment Methods: Credit cards, VISA, MasterCard, Debit cards, Bank Transfer, Electronic wallets (eWallets), Neteller, Skrill, Payoneer, SafeCharge, TrustPay, EmerchantPay, Bitcoin, UnionPay, FasaPay, Giropay,
💰 FXPrimus Account Base Currencies: USD, GBP, EUR, SGD, PLN
FXPrimus Risk warning : Losses can exceed deposits
🤴 easyMarkets is Used By: 142,500
⚡ easyMarkets is Regulated by: Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI)
💵 What You Can Trade with easyMarkets: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, Energies, Metals, Agriculturals, Options,
💵 Instruments Available with easyMarkets: 200
📈 easyMarkets Inactivity Fees: No
💰 easyMarkets Withdrawal Fees: No
💰 easyMarkets Payment Methods: Credit cards, MasterCard, Maestro, American Express, JCB, Astropay, Debit cards, Bank Transfer, SOFORT, GiroPay, iDeal, Bpay, Electronic wallets (eWallets), Skrill, Neteller, WebMoney, UnionPay, WeChatPay, FasaPay, STICPAY,
💰 easyMarkets Account Base Currencies: USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, CNY, CZK, HKD, ILS, MXN, NOK, NZD, PLN, SEK, TRY, ZAR
easyMarkets Risk warning : Your capital is at risk
🤴 Trading 212 is Used By: 15,000,000
⚡ Trading 212 is Regulated by: Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
💵 What You Can Trade with Trading 212: Forex, Minors, Cryptocurrencies, Majors, Exotics, Indices, UK Stocks, US Stocks, Energies, Metals, ETFs, Bonds,
💵 Instruments Available with Trading 212: 10000
📈 Trading 212 Inactivity Fees: No
💰 Trading 212 Withdrawal Fees: No
💰 Trading 212 Payment Methods: Credit cards, MasterCard, VISA, Debit cards, Bank Transfer, Electronic wallets (eWallets), PayPal, Skrill, Dotpay, Carte Bleue, Direct eBanking, Apple Pay, Google Pay, iDeal, Giropay,
💰 Trading 212 Account Base Currencies: USD, GBP, EUR, CHF
Trading 212 Risk warning : CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
If XM isn’t quite what you are looking for you can check out some of the best XM alternatives below.
If you would like to see XM compared against some of the best XM Account alternatives available right now you can do so by clicking on the links below.