XM cashback: $3 to $8 per $400,000 of trading volume

XM ran a limited-time cashback promotion on all assets from 22 September to 20 October 2026. Once a trader's volume reached $1.2 million they earned $3, and every further $400,000 of volume earned between $3 and $8, with the rate rising as volume grew. There was no limit on the total, and XM pays the cashback into MyWallet by 27 October 2026, where it can be traded or withdrawn.

This promotion has ended: only trades up to 20 October 2026 counted. If you took part, look for your cashback in MyWallet by 27 October. For an offer you can use now, see the XM Traders Club, which pays coins on every real-account trade, or check XM's promotions page for a later cashback round.
On 20 October 2026, the last day of this round, our own XM client area still showed a "Cashback on every asset" banner saying "Earn unlimited cashback while it lasts". If XM opens a new round, its dates and rates may differ from the ones below.

The cashback rates

The cashback rates. $1,200,000: $3 one-off: $3; $1.2M – $2M: $3 per $400,000: $6; $2M – $6M: $4 per $400,000: $40; $6M – $20M: $5 per $400,000: $175; $20M – $30M: $6 per $400,000: $150; $30M – $40M: $7 per $400,000: $175; Above $40M: $8 per $400,000: Unlimited
The cashback rates: the figures from this section at a glance.
Your total volumeCashback rateMost you earn in this band
$1,200,000$3 one-off$3
$1.2M – $2M$3 per $400,000$6
$2M – $6M$4 per $400,000$40
$6M – $20M$5 per $400,000$175
$20M – $30M$6 per $400,000$150
$30M – $40M$7 per $400,000$175
Above $40M$8 per $400,000Unlimited

A worked example

XM's own example: a trader who reaches $2,500,000 in volume earns $13. That is $3 for reaching $1.2 million, $6 for the two full $400,000 blocks between $1.2 million and $2 million, and $4 for one block in the $2 million to $6 million band.

Put another way, $13 on $2.5 million of volume is a rebate of about $0.52 per $100,000 traded, roughly half a dollar per standard lot of a major pair. It is a genuine saving for a high-volume trader and a trivial one for someone trading a few lots a week.

Which trades count

  • Trades on Standard and Micro accounts are eligible.
  • Each trade needs at least a 0.05% difference between its opening and closing price.
  • Volume is weighted by your equity minus bonus credit, divided by your equity, when the position opens.
  • Hedged positions on the same account, or across accounts under the same profile, do not count.
  • You must register for the promotion with a verified account before your trades count.

The equity rule matters if you also hold an XM deposit bonus: the more of your equity that is bonus credit, the less of each trade's volume counts towards cashback.

Cashback at different volumes

Total volume in the promotionCashback earned
$1,200,000$3
$2,000,000$9
$2,500,000$13
$6,000,000$49
$20,000,000$224

Each figure adds up XM's bands: $3 for reaching $1.2 million, $6 for the band to $2 million, $40 for the band to $6 million and $175 for the band to $20 million. Partial blocks of $400,000 don't count, so the totals step up in jumps.

Notional volume, in plain terms

Trading volume here is the value of the positions you trade, not your deposit. One standard lot of a major pair is around $100,000 of currency, so $1.2 million is roughly a dozen standard lots of round-trip trading, depending on the pair and how XM counts each side. Smaller accounts reach the first payout far more slowly.

Is the cashback worth chasing?

Only as a rebate on trading you would do anyway. Adding volume to reach the next band almost always costs more in spread than the few dollars it returned. The same rule applies if XM runs another cashback round: register if you are already active, and don't start trading because of it.

For other ways to get money back on trading costs, see our guide to forex cashback and rebates and the XM Traders Club.

Key terms explained

  • Rebate or cashback: part of your trading cost paid back to you, usually as cash you can withdraw.
  • Trading volume: the value of the positions you trade, not the money in your account. A small account can build large volume with leverage.
  • Notional value: the full face value of a position. One lot of EUR/USD has a notional value of about $100,000 or more, depending on the rate.
  • Spread: the gap between the buy and sell price, and the main cost of a trade on commission-free accounts.

Who this offer suits

The cashback suits active, high-volume traders who would trade millions of dollars of volume between 22 September and 20 October anyway. It suits much less a part-time trader, for whom the first $3 needs $1.2 million of volume.

Mistakes to avoid

Chasing the next band is the costliest error. Every extra $400,000 of volume pays $3 to $8 back, while the spread on that volume usually costs far more. Some traders forget to register before trading, so early volume never counts. Others hedge across accounts and lose eligibility for the whole promotion.

Before you claim: a quick checklist

  • Register for the promotion with a verified account.
  • Trade on a Standard or Micro account.
  • Avoid hedging within or across your accounts.
  • Check your cashback in MyWallet by 27 October 2026.

Our verdict

XM's cashback is a fair rebate for traders who already trade millions in volume, with no cap and withdrawable payouts. For most retail traders it returns a few dollars. The window closed on 20 October 2026; if XM runs another round, register only if you are already active, and don't change how you trade to chase it.

Frequently Asked Questions

Has XM's cashback promotion ended?

Yes. Trades counted from 22 September to 20 October 2026, and XM pays the cashback into MyWallet by 27 October 2026.

How much cashback can I earn?

There is no total cap. You earn $3 at $1.2 million in volume, then $3 to $8 for every further $400,000, depending on your volume band.

Can I withdraw XM cashback?

Yes. XM says you can withdraw the cashback or use it for trading from MyWallet.

Which accounts qualify for XM cashback?

Standard and Micro accounts. Hedged positions and trades with less than a 0.05% price difference between open and close do not count.

Do I need to register for XM's cashback promotion?

Yes. XM says you must register for the promotion with a verified account; trades made before you register don't count.

Does a bonus reduce my cashback?

It can. Each trade's volume is weighted by your equity minus bonus credit, divided by your equity, at the moment the position opens.

Are hedged trades counted?

No. Hedged positions on the same account, or across accounts under the same trading profile, are not eligible.

Is XM's cashback paid as bonus or cash?

As cashback in MyWallet, which you can withdraw or use for trading.

Does every trade count towards XM cashback?

Only trades with at least a 0.05% difference between opening and closing price count, and hedged positions are excluded.

Can I join XM's cashback promotion late?

You can register during the promotion, but only trades after you register count, so late joiners earn less.

Is XM's cashback taxable?

That depends on where you live. Treat it like other trading income and check local rules.

How much cashback is $10 million of volume worth at XM?

$99: $3 for reaching $1.2 million, $6 for the band to $2 million, $40 for the band to $6 million and $50 for the next $4 million, ten blocks at $5.

How we checked this page. Facts were checked on 6 October 2026 against XM's cashback promotion page (September–October 2026); XM's promotions page (xm.com/promotions). Promotions change often and depend on where you live, so confirm the current terms in your client area before you deposit. Trading CFDs on margin carries a high risk of losing money.