XM Trading is a Forex company that can also trade virtual currencies such as Bitcoin and Ripple. Therefore, many users would like to deposit money in virtual currency. Is it possible to deposit the main virtual currency on the virtual currency exchange?
Virtual currency deposit
In conclusion, you can not deposit virtual currency. It can be said that it is the main deposit method for cryptocurrency exchanges, but XM Trading does not allow this deposit method. Instead, although the procedure is a little troublesome, it is possible to deposit with an online wallet. Please refer to the article below for information on how to deposit with XM.
Online wallets are one of the methods that can be used as a deposit method for XM Trading. Among them, there is a deposit method called Sticpay.
Stickpay is an online wallet service based in the UK. It is possible to issue a stick pay card and use it for shopping. To deposit to XM with Stickpay, you need to open a Stickpay account and deposit in advance. If you do not have a Sticpay account, please open one first.
How STICPAY Deposits Work
Stickpay will withdraw the deposit amount from your Stickpay account at the same time as you apply for deposit to XM. Therefore, you must first have money in your Stickpay account in order to make a deposit. Sticpay deposit methods include bank wire, credit/debit card and virtual currency. For those who usually deposit with virtual currency, the flow will be to deposit virtual currency to your Stickpay account and then transfer to your XM trading account.
Payment from anyone other than yourself is not possible
Since XM has anti-money laundering measures, it is a bottleneck that deposits other than those made by the person themselves will be rejected. Deposits to XM can only be made with a Stickpay account registered under the same name as the XM account. Please note that the deposit will be refused if it is even slightly different from the name registered with XM.
At XM, profits must be withdrawn by bank transfer. This is because XM has a rule that “the deposit method and the withdrawal method are unified”. To withdraw to your STICPAY account, you will have to withdraw “up to the deposit amount to STICPAY” and “profit to your bank account” separately. Therefore, it is a troublesome process, so be careful.
XM has no deposit fees. However, a fee will be charged when depositing to your Stickpay account. The problem is that virtual currency deposits take 1%, credit cards take 3%, and bank transfers take around 2%. There is no upper limit on fees, so the higher the deposit amount, the higher the fees.
Receipt reflection time
Deposits from Sticpay account to XM can be deposited 24 hours a day, 365 days a year and will be reflected immediately. Stickpay is highly recommended if you want to deposit quickly.
Minimum deposit amount and maximum deposit amount
The minimum deposit amount to XM is 500 yen/time, and the depositable amount is 800,000 yen/time.