Use XM partner code 274PQ when registering a new live trading account to activate the 100% deposit bonus — XM matches your first deposit and doubles your starting trading capital. This guide covers how the code works, how to register correctly, what XM offers as a broker, which account type suits your strategy, and what to know about trading conditions, platforms, instruments, and regulation before funding your account.

A partner code at XM is a unique referral identifier issued to an authorized participant in XM's official partner program. When you enter it during account registration, your account is linked to that partner's promotional structure, which determines your eligibility for specific bonus campaigns. For you as a new trader, the code costs nothing to use, does not change your spreads, does not affect execution quality, and does not add any obligation — it simply qualifies your account for promotions that standard sign-ups without a code may not access.

Partner code 274PQ activates the 100% deposit bonus on your first deposit. The mechanics are straightforward: when you make your qualifying first deposit after registering with 274PQ, XM matches the deposit amount at a 1:1 ratio and credits the equivalent as bonus balance to your account. Deposit $200 and your account starts with $400 of trading capital. Deposit $500 and you trade with $1,000. The bonus funds act as tradeable balance — you can open positions using the combined total of your deposit and the bonus, which directly expands your available margin without requiring you to put more of your own funds at risk.

The bonus is credited as trading credit rather than immediately withdrawable cash. It serves a practical trading function: it absorbs drawdown before your deposited capital is affected, giving you a wider buffer to manage positions through adverse price moves without triggering a margin call prematurely. Trading volume generates conversion of the bonus into withdrawable funds over time. The specific volume requirement and conversion rate are detailed in XM's current bonus terms, which should be reviewed on XM's official website before depositing.

Important regional note: The 100% deposit bonus is not available to clients registered under XM's CySEC (EU) entity. European financial regulations prohibit retail brokers from offering deposit bonuses to retail clients. Traders registering from EU member states will be placed under the CySEC entity and will not receive the bonus — all other platform features, trading conditions, account types, instruments, and platforms remain fully accessible. The bonus is available to clients registering under XM's offshore entities — IFSC (Belize), FSC (Mauritius), FSA (Seychelles), and DFSA (Dubai) — in jurisdictions where those entities serve.

The partner code must be entered during registration. In almost all cases it cannot be added to an existing account after sign-up has been completed. If you intend to use 274PQ, enter it before submitting your registration form.

Go to xm.com and click Open an Account or Register. You will be presented with a registration form. Work through the following steps.

Select your preferred account type. XM offers four main account types — Micro, Standard, XM Ultra Low, and Shares. The choice you make at this stage determines your trading conditions from the start, though you can open additional account types later from within the Member Area. Details on each account type are covered in the account types section below.

Enter your personal details: full legal name, country of residence, email address, phone number, and date of birth. All details must match the identity documents you will upload during KYC verification. Mismatches between registration details and ID documents can cause verification delays.

Locate the field labeled Partner Code, Referral Code, or Promo Code on the registration form. Enter 274PQ exactly as shown. A green checkmark should appear confirming the code is valid. Do not skip this step — the code cannot be added afterward in most cases.

Submit the form and verify your email address by clicking the confirmation link XM sends to your inbox. Your account is now created and visible in the XM Member Area.

Complete KYC identity verification. Upload a government-issued photo ID (passport or national identity card) and a recent proof of address (utility bill, bank statement, or similar document dated within the last three months). Verification is required before deposits can be processed and withdrawals approved. XM's verification process is typically completed within one business day.

Once verified, make your first deposit. The 100% matching bonus linked to 274PQ is applied automatically upon deposit crediting, assuming the bonus campaign is active in your region at the time of registration.

XM was founded in 2009 and has grown over fifteen years into one of the most established retail forex and CFD brokers globally. It operates across more than 190 countries, serves more than 15 million registered clients, and has maintained continuous operations through every major market volatility event of the past decade and a half — the 2010 Eurozone debt crisis, the 2015 Swiss franc de-peg, the 2020 pandemic volatility spike, and multiple periods of extreme commodity and equity market movement. That operational continuity across fifteen years of live market conditions is one of XM's most meaningful differentiators from newer or less established brokers.

XM is regulated across five jurisdictions: CySEC (Cyprus Securities and Exchange Commission) in Cyprus, ASIC (Australian Securities and Investments Commission) in Australia, IFSC (International Financial Services Commission) in Belize, FSC (Financial Services Commission) in Mauritius, and DFSA (Dubai Financial Services Authority) in the Dubai International Financial Centre. Client funds across all XM entities are held in segregated accounts, separated from the company's own operational capital and independently audited. The segregation of client funds is a fundamental client protection requirement and is enforced consistently across all regulated XM entities.

XM has received consistent recognition from independent industry award programs, including awards for best forex broker, best trading platform, and best customer service from publications including Global Banking & Finance Review, International Finance, and others. Awards from industry publications reflect peer evaluation by an informed financial press rather than purely marketing-driven recognition.

XM offers four main account types, each designed for a different trading profile. All account types provide access to MT4 and MT5 on all supported devices, negative balance protection, and the same core execution infrastructure.

Micro Account is designed for traders who are starting out or who want to manage position sizes at a smaller scale. Trades are placed in micro lots (1,000 units of base currency rather than the standard 100,000). The smaller unit size means that a one-pip movement on a micro lot EUR/USD position is worth approximately $0.10, compared to $10 on a standard lot. This makes the Micro account the most accessible option for new traders learning to manage live positions under real market conditions without large capital exposure per trade. The minimum deposit is $5. Spreads start from 1 pip on major currency pairs. Maximum leverage up to 1,000:1 is available in non-EU jurisdictions, subject to the regulatory entity under which the account is opened.

Standard Account is the most widely used account type across XM's client base. It provides full access to XM's instrument range in standard lot sizing. Spreads start from 1 pip on major pairs. The same $5 minimum deposit applies. The Standard account suits traders who are comfortable with full standard lot positions and want access to the complete instrument library without commission charges on forex trades.

XM Ultra Low Account provides spreads that start from 0.6 pips on major pairs — lower than the Micro and Standard accounts — making it the preferred account type for traders whose strategy is sensitive to spread costs, including scalpers, high-frequency traders, and those using automated trading systems where entry and exit price precision matters. Spreads being tighter means the cost per trade is lower at equivalent lot size, which compounds materially over large numbers of trades. The minimum deposit for the Ultra Low account is $50. Both Micro and Standard lot sizing is available within the Ultra Low account type.

XM Shares Account is specifically designed for traders who want to trade Contracts for Difference (CFDs) on individual company shares rather than currency pairs, commodities, or indices. Leverage on the Shares account is up to 1:5, reflecting the lower leverage typically applied to equity instruments. This account type is separate from the Micro, Standard, and Ultra Low accounts and focuses specifically on equity CFD exposure. Minimum deposit is $10,000, making it a product for traders with a specific equity focus and adequate capitalization.

Swap-free (Islamic) account versions are available across all applicable account types for traders who require compliance with religious principles that prohibit interest (riba). Swap-free accounts replace overnight swap charges with an administration fee structure that achieves a similar commercial outcome without violating swap-related principles.

XM supports MetaTrader 4 and MetaTrader 5 — the two most widely used retail trading platforms globally. Both are available across desktop (Windows and Mac), web browser (WebTrader — no download required), iOS, and Android. The choice between MT4 and MT5 is meaningful and worth considering before opening your account.

MetaTrader 4 is the most widely installed retail trading platform in existence, having been the industry standard since its release in 2005. Its strengths lie in its stability, its enormous ecosystem of third-party Expert Advisors (automated trading scripts), its MQL4 programming language that allows traders to code custom indicators and bots, and its familiarity — MT4 is supported by more copy trading platforms, more signal providers, and more trading communities than any other platform. If you intend to run automated strategies, use external copy trading tools, or access the widest possible selection of community-developed indicators and EAs, MT4 is the logical choice.

MetaTrader 5 is the successor platform, offering several technical improvements over MT4: an expanded order system (six pending order types versus MT4's four), an economic calendar built into the platform, a depth-of-market view showing bid and ask liquidity at each price level, timeframes from one minute to one month with more intermediate options than MT4, and MQL5 — a more modern object-oriented programming language for automated strategy development. MT5 also supports multi-asset trading from a single account, covering forex, stocks, futures, and indices within one interface. Traders who want more advanced charting tools, more order types, or who plan to trade multiple asset classes through a single account should consider MT5.

Both platforms support one-click trading, customizable charting with dozens of built-in technical indicators, strategy backtesting using historical data, and full mobile trading with account management, live quotes, charting, and order execution available on iOS and Android.

XM also offers a proprietary web-based platform accessible without download from any browser — useful when accessing your account from a device where installing software is not practical. The XM web platform provides core trading functionality including live quotes, chart analysis, order placement, and account management, though it is less feature-rich than the full MT4 or MT5 desktop installations.

XM provides access to more than 1,000 tradable instruments across multiple asset classes, all structured as CFDs with the exception of physical shares available in certain regions.

Forex is XM's core product. Coverage spans more than 55 currency pairs organized into major pairs (EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, NZD/USD), minor pairs (EUR/GBP, EUR/JPY, GBP/JPY, and others), and exotic pairs covering currencies from emerging markets including the Turkish lira, South African rand, Mexican peso, Polish zloty, Hungarian forint, Czech koruna, Singapore dollar, and many others. Spreads on major pairs on the Ultra Low account start from 0.6 pips. XM maintains a strict no-requotes policy — orders are executed at the requested price or not at all, without the requote mechanism that some brokers use to adjust execution price during volatility.

Metals trading covers spot gold, spot silver, platinum, and palladium against the US dollar and other currencies. Gold (XAUUSD) is one of the most actively traded instruments at XM globally, providing exposure to one of the primary safe-haven assets in the global financial system. Metals pricing tracks international spot market rates in real time.

Energies include Brent crude oil, WTI crude oil, and natural gas CFDs. Energy markets are among the most volatility-rich instrument categories, driven by geopolitical developments, OPEC production decisions, inventory data releases, and global demand shifts — making them attractive to shorter-term tactical traders who operate around data events and news flow.

Equity Indices cover the world's most significant stock market benchmarks: the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, DAX 40, CAC 40, Nikkei 225, ASX 200, EURO STOXX 50, and others. Index CFDs allow traders to take a position on the aggregate direction of a market without selecting individual stocks, providing concentrated exposure to macroeconomic sentiment and central bank policy direction.

Individual Shares CFDs span major US, European, and UK-listed companies across sectors including technology, financials, healthcare, energy, and consumer goods. Coverage includes large-cap names from the S&P 500, FTSE 100, DAX, and major European indices.

Cryptocurrencies — Bitcoin, Ethereum, Litecoin, Ripple, and others — are available as CFDs, providing price exposure to the crypto market through XM's regulated, familiar platform without requiring a separate exchange account or wallet management. Crypto CFD positions can be opened and closed within the same MT4 or MT5 interface used for forex and other instruments.

Commodities beyond metals and energies include soft commodities such as cocoa, coffee, cotton, and agricultural products, giving traders access to commodity market exposure across a broad spectrum of raw materials.

XM's spreads are competitive across its account types and sit within the range typical of major regulated retail brokers. On major forex pairs like EUR/USD, the Micro and Standard accounts start from 1 pip. The Ultra Low account starts from 0.6 pips. There are no commissions charged on forex trades on the Micro and Standard accounts — the spread is the full cost of the trade. The Ultra Low account also operates on a spread-only basis without added commission.

XM does not charge deposit fees. Withdrawal fees apply in some cases depending on the payment method and withdrawal frequency — XM covers fees on the first withdrawal of the month for most methods, with subsequent withdrawals potentially incurring processing fees. Full details on withdrawal fees are available in the Member Area.

Leverage at XM is regulated by the entity under which the account is opened. EU clients under CySEC are subject to ESMA leverage caps: 1:30 on major forex pairs, 1:20 on minor and exotic pairs, 1:10 on commodities, 1:5 on individual equities. Clients under offshore entities (IFSC, FSC, FSA, DFSA) may access leverage up to 1:1,000 on forex pairs, subject to XM's current leverage policy and individual account conditions.

Negative balance protection is provided to all XM clients across all entities. This means that if a losing position moves against you faster than a stop-loss can execute — for example, during a gap event in an illiquid market — your account cannot go below zero. Any deficit resulting from such an event is absorbed by XM rather than passed to the client as a debt obligation. This protection is an important safeguard particularly for traders using leverage, and is mandated by regulation for EU clients and provided voluntarily by XM for clients under its offshore entities.

XM's execution model is market execution — orders are filled at the best available market price at the time of execution without dealer intervention. The no-requotes commitment means that during periods of high volatility, such as major economic data releases, orders are executed at the available price rather than requoted. Execution speed is consistently cited by independent testers as fast, typically in the low milliseconds for standard order types under normal market conditions.

XM's educational and research offering is one of the most comprehensive available from any retail forex broker, and it is genuinely free for all registered clients regardless of account type or funding level.

Live Webinars are hosted daily in more than 19 languages. Topics span introductory material for new traders (how markets work, how to read charts, how to place orders) through to intermediate and advanced content covering specific strategies, technical analysis methodologies, fundamental analysis approaches, and risk management frameworks. The multilingual delivery makes the webinar program one of the most internationally accessible educational resources in retail forex. Webinar sessions are also recorded and archived in the Member Area for on-demand access.

Video Tutorials provide structured, self-paced learning across topics including MT4 and MT5 platform operation, chart reading, technical indicator application, order types, and trading psychology. Videos range from short single-topic segments to longer course-format modules.

Daily Market Analysis covers the major currency pairs, commodities, indices, and notable macro developments each trading day. Analysis is published by XM's in-house team of market analysts and includes both technical and fundamental perspectives — identifying key support and resistance levels, relevant economic data releases scheduled for the day, and interpretation of recent price action.

Economic Calendar tracks all major economic data releases globally — GDP figures, central bank rate decisions, inflation data, employment reports, PMI surveys, trade balance figures, and others — with forecast consensus and previous reading displayed alongside the scheduled release time. The economic calendar is the primary scheduling tool for event-driven traders who build positions around data releases.

XM Research publishes longer-form market commentary, technical setups, and thematic macroeconomic pieces covering currency trends, commodity market developments, and equity index direction. Research is particularly useful for traders who want context beyond the daily market noise — understanding the macro drivers behind medium-term price trends rather than reacting to individual data prints.

The combination of daily content, multilingual delivery, and archived accessibility makes XM's educational platform genuinely useful at every experience level — from a trader opening their first live account to an experienced operator who uses XM's research as a daily morning briefing tool.

Beyond the 100% deposit bonus activated by partner code 274PQ, XM runs several ongoing and periodic promotional programs.

The XM Loyalty Program rewards consistent trading activity with points that accumulate based on trading volume. Points are redeemable for bonus trading credits or gifts through the XM rewards store. The program creates an ongoing incentive structure for active clients, returning value based on the volume of trading conducted on the platform over time.

The Refer a Friend Program pays cash rewards for successful referrals. When a referred friend opens, verifies, funds an account, and completes a minimum of 1 standard lot in trading, the referring client earns a cash bonus. The reward scales with the number of successful referrals, with top earners receiving up to $150 per referral. Cash rewards are paid to the MyWallet balance and can be withdrawn or transferred to a trading account. This program is not available to clients under the CySEC entity.

Periodic campaign promotions are announced through the Promotions section of the Member Area and via email. XM has run time-limited deposit bonus campaigns tied to platform milestones — the "15 Years of XM" campaign running from February to March 2026, for example, allowed eligible clients to unlock up to $52,500 in trading bonuses over six weeks based on trading volume during the campaign period. Such campaigns vary in availability, duration, and eligibility requirements and are announced independently of the standard welcome bonus structure.

A free VPS (Virtual Private Server) is available to clients who maintain a minimum balance and meet a minimum monthly trading volume. A VPS allows automated trading strategies (Expert Advisors) to run 24/5 without relying on a personal computer remaining powered and connected. Low latency between the VPS and XM's servers reduces execution delay for automated strategies. The free VPS is a meaningful benefit for traders running EAs, as commercial VPS services typically cost $20–$50 per month.

XM accepts a broad range of deposit and withdrawal methods covering credit and debit cards, bank wire transfers, and electronic payment systems. Visa and Mastercard are accepted for deposits and withdrawals. Bank wire transfer is available globally for clients preferring direct bank-to-bank settlement. Electronic wallets including Skrill and Neteller are supported in applicable regions. A range of local payment methods is available depending on country of residence.

XM does not charge deposit fees — any costs associated with a deposit are borne by the payment provider rather than passed to the client. Withdrawals follow XM's fee schedule: the first withdrawal of each month for most methods is processed at no charge. Subsequent withdrawals within the same calendar month may incur a processing fee. The minimum withdrawal amount is $2 for most electronic methods and $200 for bank wire.

Deposit processing is fast for card and electronic wallet methods — typically credited to the trading account within minutes. Bank wire deposits take longer depending on the sending bank's processing timeline, generally one to five business days. Withdrawals to cards and electronic wallets are typically processed within 24 hours of the withdrawal request being approved. Bank wire withdrawals take three to five business days after processing.

Deposits and withdrawals are denominated in the base currency of the trading account. XM supports account base currencies including USD, EUR, GBP, JPY, CHF, AUD, and others, reducing currency conversion costs for clients whose preferred banking currency matches their account base currency.

XM is regulated by five financial authorities and maintains corresponding client protection standards across each entity. CySEC regulation (EU) provides the most comprehensive consumer protection framework, including the Investor Compensation Fund which covers up to €20,000 per client in cases of broker insolvency. ASIC regulation (Australia) mandates segregated client accounts, negative balance protection, and RG 227 compliance for retail client targeting. IFSC, FSC, and DFSA entities provide lighter-touch regulation but still require segregated client funds, transparent order execution, and regular reporting to the relevant authority.

Client funds at XM are held in segregated bank accounts at Tier-1 international banks. Segregation means client funds cannot be used by XM for its own operational purposes — if XM were to face financial difficulty, client funds would remain protected from the company's creditors. This segregation is independently audited.

SSL encryption is applied across all web and platform communications. Two-factor authentication is available for Member Area account security. Anti-fraud and identity verification procedures are enforced at account opening and at withdrawal processing.

XM's mobile trading experience is delivered through the MetaTrader 4 and MetaTrader 5 iOS and Android apps, supplemented by XM's own proprietary mobile app. Both platforms provide full trading functionality on mobile: real-time quotes, interactive charts with built-in technical indicators, all order types including market, limit, stop, and trailing stop orders, account management, transaction history, and deposit initiation.

The XM app offers a simplified interface for traders who prefer a cleaner mobile experience compared to the full MT4/MT5 apps, with account balance, open position monitoring, quick deposit, and charting accessible in a single streamlined view. Live chat support is accessible from within the app.

Push notifications for price alerts, order fill confirmations, and deposit or withdrawal status updates are configurable within both the MT platform apps and the XM proprietary app, allowing traders to stay informed of account events without actively monitoring the platform.

XM provides customer support 24 hours a day, five days a week (24/5 — aligned with forex market hours), with support available via live chat, email, and telephone. The support team operates in more than 30 languages, reflecting XM's genuinely global client base across 190+ countries. Response times via live chat are typically under two minutes during market hours.

The Member Area includes a comprehensive Help Center covering the most common account, platform, deposit, and trading questions in structured FAQ format. The Help Center is the fastest route to answers for standard procedural questions and is accessible at any time without waiting for a live agent.

Support quality at XM is consistently cited as a strength in independent broker reviews. The combination of 24/5 availability, multilingual delivery, multiple contact channels, and the depth of the Help Center knowledge base places XM's support infrastructure among the strongest available from any retail forex and CFD broker.

XM is available in more than 190 countries globally. It is not available to residents of the United States, Canada, and certain other jurisdictions where local regulation prohibits XM's licensing entities from serving retail clients. EU clients are served under the CySEC entity and are subject to ESMA leverage restrictions and the bonus prohibition described above. Always verify your country's regulatory status on XM's official website before registering, and ensure compliance with local financial regulations.

What is the XM partner code for 2026? The XM partner code is 274PQ. Entering it during account registration activates the 100% deposit bonus — XM matches your first qualifying deposit and doubles your starting trading capital.

Where do I enter the XM partner code 274PQ? In the field labeled Partner Code, Referral Code, or Promo Code on the live account registration form at xm.com. It must be entered before submitting registration — it cannot be added to an existing account.

What does the 100% deposit bonus mean practically? XM matches your first qualifying deposit at 100%, crediting the equivalent amount as bonus balance. A $300 deposit starts you with $600 of trading capital. The bonus acts as additional margin buffer — it absorbs drawdown before your deposited capital is affected. Conversion to withdrawable funds requires meeting a trading volume threshold detailed in XM's bonus terms.

Is the bonus available to EU traders? No. EU regulatory rules prohibit deposit bonuses for retail clients. Clients under the CySEC entity cannot receive the 100% bonus. All trading instruments, platforms, and account types remain fully accessible.

What account type should I choose? New traders starting out: Micro Account ($5 minimum, smaller lot sizes, lower per-pip exposure). Traders who want tighter spreads: XM Ultra Low Account ($50 minimum, spreads from 0.6 pips). General-purpose full-size trading: Standard Account ($5 minimum). Equity-focused CFD trading: Shares Account ($10,000 minimum).

Does XM require KYC? Yes. XM requires a government-issued ID and proof of address for all clients before deposits are processed and withdrawals approved. Complete verification promptly after registering.

What platforms does XM support? MetaTrader 4 and MetaTrader 5, available on Windows, Mac, web browser (no download required), iOS, and Android. A proprietary XM app is also available for mobile.

What instruments can I trade at XM? Over 1,000 instruments including 55+ forex pairs, spot gold and silver, platinum, palladium, crude oil, natural gas, equity indices (S&P 500, DAX, FTSE 100, Nikkei 225 and others), individual share CFDs, cryptocurrency CFDs, and soft commodities.

Is XM regulated? Yes. XM holds active licenses from CySEC (Cyprus), ASIC (Australia), IFSC (Belize), FSC (Mauritius), and DFSA (Dubai). Client funds are held in segregated accounts at Tier-1 banks, independently audited, and separately maintained from XM's operational capital.

How fast are withdrawals? Card and electronic wallet withdrawals are typically processed within 24 hours of approval. Bank wire withdrawals take three to five business days after processing. XM covers the fee on the first withdrawal of each month for most methods.

Is XM available in the US? No. XM is not available to residents of the United States or Canada.

XM partner code 274PQ activates the 100% deposit bonus at xm.com — your first qualifying deposit is matched in full, doubling your starting trading capital. Enter 274PQ in the Partner Code field during registration. It cannot be applied after an account is already open. The bonus is not available to EU clients under the CySEC entity; all other platform features apply globally.

Behind the code is a fifteen-year-old multi-regulated broker serving 15 million+ clients across 190+ countries under CySEC, ASIC, IFSC, FSC, and DFSA licenses. MT4 and MT5 across all devices. Over 1,000 instruments: 55+ forex pairs, metals, energies, equity indices, individual shares CFDs, crypto CFDs, and commodities. Four account types starting from $5 minimum deposit. Spreads from 0.6 pips on Ultra Low. No requotes. Negative balance protection on all accounts. Free daily multilingual webinars. Daily market analysis. VIP loyalty program and VPS for qualifying active traders.

Forex and CFD trading involves significant risk of loss and is not suitable for all investors. Leverage increases both potential gains and potential losses. You may lose more than your initial deposit. The 100% deposit bonus requires meeting trading volume conditions before conversion to withdrawable funds — review XM's full bonus terms on their official website before depositing. Bonus availability depends on the regulatory entity and country of registration; EU clients under CySEC are not eligible for the bonus. XM is regulated by CySEC, ASIC, IFSC, FSC, and DFSA. Not available in the United States, Canada, and certain other jurisdictions — verify your country's status before registering. Past performance is not indicative of future results. This article is for informational purposes only and does not constitute financial or investment advice. Always conduct your own due diligence before opening a trading account.