XM No Deposit Bonus — What It Is, and Why It Earns No Cashback
Short answer: XM's promotions page uses the labels "no deposit forex bonus" and "Welcome Bonus", next to its Deposit Bonus; availability varies by region. A bonus is trading credit added to your XM trading account — it is not cash and it does not go to your MyWallet. XM states that bonuses are not withdrawable (only profits made with them). Under XM's partner terms, trading on a no-deposit bonus without a real deposit creates no partner commission, so it earns no cashback with official XM partner code CBT90. Cashback starts when you trade with your own deposited money: from 0.01 lot, credited to your MyWallet the next day.
What XM's promotions page lists (checked 10 October 2026)
XM's Promotions page uses several labels: "no deposit forex bonus" (in the page summary), "Welcome Bonus" (in the page title) and "Deposit Bonus". On 10 October 2026 the offers shown to us were the Deposit Bonus and XM's own cashback campaign. XM states that "bonus availability and percentage vary by region", so the page you see may be different.
| No deposit bonus | Deposit Bonus | CashBackXM cashback (code CBT90) | |
|---|---|---|---|
| Who pays it | XM, under its promotion terms | XM, under its promotion terms | A share of the partner commission XM pays on your trading |
| Do you need to deposit? | No | Yes — it is a percentage of your deposit | Yes — only trading on your own funds earns it |
| Where it goes | Your trading account, as credit | Your trading account, as credit (extra margin) | Your XM MyWallet, as cash |
| Can you withdraw it? | XM states that bonuses are not withdrawable (only profits made with them) | XM states that bonuses are not withdrawable (only profits made with them) | Yes |
| Amount | Set by XM per region — see XM's page | Set by XM per region — see XM's page | Fixed per lot, e.g. $9.00 Gold, $4.80 EURUSD (Standard) |
We deliberately do not print bonus amounts. They change by region and by campaign, and XM can amend them at any time. The only figures to rely on are the ones on XM's Promotions page and in your Members Area on the day you claim. XM's separate Unlimited Cashback campaign (22 September – 20 October 2026) is a volume-milestone promotion, not a per-lot rebate — see our XM Unlimited Cashback guide.
Where does the bonus go — trading account or MyWallet?
An XM bonus is added to your trading account as credit. It shows on its own line, next to your balance, and works as extra margin. You can open trades with it. XM states that bonuses are not withdrawable (only profits made with them); the exact rules are in XM's bonus terms.
Cashback from CashBackXM works differently. XM credits it to your MyWallet in the Members Area, as cash, the day after your trades close. From MyWallet you can withdraw it or move it to a trading account. A bonus and cashback never land in the same place. How MyWallet works is explained in XM cashback and MyWallet.
Why trading on a no deposit bonus earns no cashback
Cashback is not a separate payment from us. It is a share of the partner commission XM pays to the partner your account is registered under, based on your closed trading volume. If XM pays no commission on a trade, there is nothing to share.
Under XM's partner terms, an account that trades only with a no-deposit bonus — with no real deposit — generates no partner commission. That means no cashback on those trades, even if the account was opened with official XM partner code CBT90. This is XM's rule, and it applies before any cashback is calculated.
Cashback starts when you deposit your own money and trade with it in an account opened with CBT90: eligible trades earn cashback from 0.01 lot, with no cap.
Deposit bonus: cashback is reduced in proportion
A Deposit Bonus adds credit on top of your own deposit, and both can be used as margin. Under XM's partner terms, the commission on a trade is calculated according to how much of the required margin came from your own funds. The bonus-funded part earns proportionally less. Illustration for 1 closed lot on a Standard account under CBT90:
| Share of margin from your own funds | GOLD / XAUUSD | EURUSD |
|---|---|---|
| 100% (no bonus used) | $9.00 | $4.80 |
| 50% own funds, 50% bonus credit | $4.50 | $2.40 |
| 0% (no-deposit bonus only) | $0 | $0 |
How it is worked out: the full rate × your share of the margin, so $9.00 × 50% = $4.50 and $4.80 × 50% = $2.40. This shows how the rule works; XM calculates the exact share on each trade. The two programmes are compared in full in XM bonus vs cashback.
Other trades that earn no cashback
Under XM's partner terms, these trades also generate no partner commission, so they earn no cashback — with or without a bonus:
- Trades that last 3 minutes or less.
- Trades closed with "close by" or "multiple close by".
- Trading that XM treats as churning (trading only to generate volume).
Short-term trading is covered in XM scalping cashback.
How to get cashback from your first real deposit
- Open your XM account with official XM partner code CBT90 from the start. How the code works →
- Verify the account and deposit your own funds. Minimums are in XM minimum deposit.
- Trade from 0.01 lot. Cashback for each eligible closed lot is credited to your MyWallet the next day — no claim needed, and your spreads do not change.
Already have an XM account? In almost every case a partner code cannot be added or changed later — ask XM support. See changing your XM partner code.
Is a no deposit bonus worth taking?
It can be a way to try XM's live platform without putting in your own money. But it is credit, not cash, and it earns no cashback. Trading with bonus credit is still leveraged trading. Read XM's bonus terms before you claim, because they set what you can withdraw and when the bonus is removed. Cashback lowers your cost per lot on the trading you do with your own funds; it does not make any trade less risky. To see what your own volume would return, use the cashback calculator.
CashBackXM is an independent cashback service and an official XM partner (code CBT90). We are not XM and never hold your funds; XM credits the cashback directly to your own MyWallet. Trading CFDs on leverage carries a high risk of loss. Cashback lowers your cost per lot but does not change the risk of any trade.
Cashback starts with your first real deposit.
Open your XM account under official XM partner code CBT90 — from 0.01 lot, credited to your MyWallet the next day.
XM no deposit bonus — questions traders ask
Does XM have a no deposit bonus?
XM's promotions page uses the labels "no deposit forex bonus" and "Welcome Bonus", and XM says bonus availability varies by region. Check xm.com/promotions or your Members Area to see what is offered to you.
Do I get cashback when trading with the XM no deposit bonus?
No. Under XM's partner terms, trading on a no-deposit bonus without a real deposit creates no partner commission, so there is no cashback. Cashback with official XM partner code CBT90 starts once you trade with your own deposited funds.
Can I withdraw the XM no deposit bonus?
XM states that bonuses are not withdrawable (only profits made with them). The exact rules are in XM's bonus terms, so read them before you claim.
Is the XM bonus paid into MyWallet?
No. An XM bonus is added to your trading account as credit. Partner cashback is different: XM credits it to your MyWallet as cash the day after your trades close.
Does a deposit bonus reduce my cashback?
Yes, in proportion. Under XM's partner terms, the commission on a trade depends on how much of the margin came from your own funds. If half the margin is bonus credit, that trade earns about half the cashback — for example $4.50 instead of $9.00 per lot of Gold on a Standard account.
Does partner code CBT90 change my bonus or trading conditions?
CBT90 does not change your spreads or account conditions. Bonus eligibility is set by XM's promotion terms for your region. If you are unsure whether an offer applies to your account, ask XM support.