XM points or XMPs are one of the distinctive features of XM. They feature these points to promote their platform by offering bonus points and rewards to the traders. That’s why many trades love this platform.
But if you are new at the platform, the XMPs can be confusing. That’s why today we are explaining everything about XMPs and how to use them.
What is XMPs?
XMPs are the bonus points given by XM to the traders through their loyalty program.
How to earn them?
Earning the XMP is easy. You get XMPS for every round trade that lasts minimum 10 minutes. And based on the XM points, traders are divided into four loyalty levels.
The basic level is XM Executive ( 10 XMP/ lot )
After your first 30 business day, you get the XM Gold status. ( 13 XMP/ lot )
After 60 business days, you will earn XM Diamond status. ( 16 XMP/ lot)
And once you cross total 100 business days at XM, You get their highest status, which is XM elite. ( 20 XMP/ lot )
What to do with the XM points?
You can use the XMPs as contest credits. But if you want to redeem the XM points in USD, you can do so. There is no restriction on how many times you do that or how much do you withdraw.
The XM points balance can be monitored at any time. You’ll get the updates in real time. If you want to see your balance, you just need to go to their member’s area. There you will see the XMP balance and the options to redeem them.
You can also view the XMP points to their equivalent USD in the Member’s Area.
XM shows it by dividing total XM points by 3. So, the formula is :
Bonus balance = (XM points or XMPs) / 3
For example, if you have 900 XM points, the bonus balance will show 900 / 3 = 300 USD.
But if you want to use them as contest credits, you’ll need to divide the XMPs by 2.
Contest credit = (XM points or XMPs) / 2
For example, if you have 800 XM points, the contest credit will show: 800 / 2 = 400.
Redeeming XMPS/ XM points
XM didn’t leave any stone unturned to make sure their clients are comfortable with their process and platforms. To simplify things, XM enables the traders to withdraw as much as XM points needed.
For example, if you have 1200 XMPs but you don’t want to redeem the entire amount, XM will allow a fraction of that to be processed at any time. Say you are willing to redeem 900 XM points. So, you will be rewarded with 900 / 3 = 100 USD and your remaining balance will show as 300 XMP or 300 / 3 = 100 USD in the account. And the best part is, you can do it anytime you want.
So, it’s up to you, if you want to use the XMPs as contest credit or as Bonus.
Tags: XM broker review, xm review