Quick overview — what to expect
XM processes withdrawals according to regulatory and anti-money laundering rules. Withdrawals are generally sent to the same payment method used for deposits where possible, and XM may require identity verification before processing. The fastest methods are e-wallets; card refunds and bank transfers can take longer depending on third-party processing.
Before you withdraw — KYC, balance rules & verification checklist
XM — like most regulated brokers — enforces KYC (Know Your Customer). To avoid delays, complete the verification process before initiating a withdrawal.
- ID verification: Passport, national ID or driving license — clear color photo or scan.
- Proof of address: Utility bill, bank statement, or government correspondence (usually within last 3 months).
- Card verification: If you used a credit/debit card, upload photos of card (front masked) and any requested authorization images.
- Account balance: Free margin must cover the withdrawal amount; close or hedge positions if necessary to free up funds.
- Same‑name policy: Withdrawals must typically be sent to accounts matching the account holder's name.
Withdrawal methods — pros, cons and when to use each
XM supports multiple methods, although availability varies by country and local regulations. Below we explain each method and practical advice.
Bank Wire Transfer
Best for: Large withdrawals, recipients who prefer bank accounts. Pros: Secure, traceable. Cons: Slower (2–7 business days), potential intermediary bank fees.
Credit / Debit Card
Best for: Refunds of recent card deposits. Pros: Simple — refunded to original card. Cons: Refund amounts may be limited to deposited volumes; card issuers control timing (up to 30 business days in some cases).
E‑wallets (Skrill, Neteller, etc.)
Best for: Fast transfers for traders who use e-wallets. Pros: Often instant or within 24 hours. Cons: Not available in every country; e-wallet providers may charge fees.
Local partners / local bank solutions
In some countries XM uses local partners that speed up domestic transfers and reduce fees. Check the member area for "Local Transfer" options.
Step-by-step — withdrawing from XM (web portal)
Step 1 — Log in to the XM member area
Go to the XM client portal and enter your credentials. If you have 2FA enabled, complete that step.
Step 2 — Open the "Withdrawal" page
Find the Funds / Deposit & Withdrawal menu and click "Withdraw". The portal shows the available methods for your country.
Step 3 — Choose the method and enter amount
Select Bank Transfer, Card, or E‑wallet. Enter the amount and choose the account to withdraw from (if you have multiple trading accounts).
Step 4 — Provide beneficiary details (for bank transfers)
For bank transfers, carefully enter the beneficiary name, IBAN/SWIFT/BIC, and the bank address if required. Mismatched names are a common cause of delays.
Step 5 — Review, confirm & submit
Carefully review fees, exchange rates, and the expected processing time shown. Click confirm. XM will send a confirmation email and show the withdrawal status in the portal.
Step-by-step — withdrawing from XM (mobile)
The mobile app and mobile-optimized portal follow similar steps. Key differences:
- Menus may be nested — look for Account / Funds / Withdraw.
- Screen space is smaller — double-check typed IBANs and beneficiary details before submitting.
Timing, fees & withdrawal limits
Expect variation by method and your bank/issuer. Typical ranges:
- Bank transfer: 2–7 business days; some international transfers take longer if intermediaries are involved.
- Card refunds: 3–30 business days (card issuer dependent).
- E‑wallets: Instant to 24 hours in most cases.
Fees: XM may not charge a withdrawal fee for many methods, but third-party fees (banks, correspondent banks, card processors, or e-wallet providers) may apply. XM displays fee information during withdrawal submission — always review it before confirming.
Advanced tips to speed up withdrawals and reduce costs
- Verify early: Complete KYC during onboarding so withdrawals are not blocked.
- Use e‑wallets when possible: E‑wallets are fastest; maintain a verified Skrill/Neteller account if your country supports them.
- Match names exactly: Beneficiary and account holder names must match to avoid returns and fees.
- Prefer local currency transfers: Avoid extra conversion fees by using accounts in the same currency if possible.
- Check deposit/withdrawal policy: If you deposited via card, expect card refunds first up to deposit amounts before bank transfers for excess funds.
- Contact support promptly: If a withdrawal is delayed longer than the timeframe shown, open a support ticket with the withdrawal ID and screenshots.
Common problems & how to resolve them
Delay due to verification
If XM requests additional documents, provide them promptly. Use high-quality scans/photos and include full-page images where needed.
Bank rejects the transfer
Ask your bank why the transfer was rejected — common causes include mismatched name, incorrect IBAN, or sanctions restrictions. Correct details and request XM reissue the transfer if required.
Partial refunds to card
XM often refunds deposit volumes to the original card. The rest is sent via bank transfer. Review withdrawal notes and contact support if amounts do not match expected figures.
Intermediary bank fees
If your incoming amount is reduced by intermediary fees, ask your bank to trace the payment and provide details. Consider local transfer alternatives to minimize fees.
Frequently asked questions (FAQs)
Can I withdraw without verifying my account?
No. XM requires KYC for withdrawals to comply with AML rules.
How long does XM take to process withdrawals?
XM processes requests quickly after compliance checks. The remaining time depends on the method and banks involved.
Will XM charge withdrawal fees?
XM may not charge a fee in many cases but third parties might. Review the withdrawal confirmation screen for any fees.
What happens if I entered incorrect bank details?
If the transfer bounces, XM will usually receive notification and the funds will be returned; this can take additional days and may incur fees. Contact support immediately with evidence.
Open an XM account (affiliate)
If you’re not yet registered with XM and want to try the platform, you can open an account through our affiliate link below. Using it supports our work at no extra cost to you.
Open an XM account — Sign up here (affiliate)
Related resources: check our in-depth articles and tutorials at TrustedFXTrading, where we cover account setup, deposit methods, MT4/MT5 guides, and tax considerations for traders.