While there are many active accounts in XM, if the account gets suspended or frozen, it causes disadvantages for traders. This article introduces how the account is deemed dormant or gets frozen.
[Summary]
- XM follows the below steps for an inactive account.
- If no trading activity on an account can be confirmed, XM deems an account dormant.
- XM charges a monthly fee until the account holder does an activity to lift the dormancy or the balance turns zero.
- XM freezes a dormant account if no activity on the dormant account can be confirmed.
- Conditions of Dormant Account
If no trading or other activities on a trading account can be confirmed for 90 consecutive calendar days, the account is deemed dormant. USD 5.00 is charged to the account holder every month as an account maintenance fee.
- Conditions of Frozen Account
XM freezes the account if no activity on a dormant account can be confirmed within 90 consecutive calendar days after the balance turns zero or an account holder violates the terms and conditions. The holder of a frozen account is not allowed to deposit money or make a withdrawal.
- Disadvantages of dormant and frozen accounts
- A maintenance fee is incurred for a dormant account.
- Bonus is removed for account holders living outside Europe.
- A new account is required once an account is frozen.
Comparison of dormant and frozen accounts
| Dormant Account | Frozen Account | |
| Login | Allowed | Disallowed |
| Account Maintenance Fee | USD 5.00 / month*1 | N/A |
| How to Lift Dormancy/Freeze | Make a deposit or withdrawal, or do trading | Create new account |
| Earned Bonus*2 | Removed | N/A |
*1 If the balance turns less than USD 5.00, the remaining amount will be fortified as a fee. No further fee is charged after the balance turns zero.
*2 Bonus includes Account Opening Bonus, Deposit Bonus and XMP Bonus. A bonus program is available for traders living outside Europe. Bonus availability differs between the countries of trader's residence due to reasons of compliant finance licenses. Please visit the below sites for details.
XM Official Website (Europe, no bonus program)
XM Official Site (Outside Europe, with bonus program)
Dormant Account
Conditions of Dormant Account
If no trading or other activity related to a trading account can be confirmed for 90 consecutive calendar days, XM deems the account dormant. USD 5.00 is charged to the account holder every month as an account maintenance fee.
How to Avoid or Lift Dormancy
An account won't be deemed dormant as long as the account holder does transactions through the account regardless of the volume or makes a deposit or a withdrawal at least once every 90 days. FYI, the minimum trading volume in XM is 0.01 lot (1,000 currencies).
For an already dormant account, the state of dormancy can be lifted once it is confirmed that the account holder did the above activity within 90 calendar days after the balance turned zero.
Frozen Account
If any account-related activities cannot be confirmed, XM first deems the account dormant and then freezes it. XM also has the authority to freeze an account if the account holder violates its terms and conditions.
Conditions of Frozen Account
An account gets frozen if no activity on the dormant account can be confirmed within 90 consecutive calendar days after the balance turns zero or the account holder violates the terms and conditions. The holder of a frozen account is not allowed to deposit money or make a withdrawal.
Prohibition of withdrawal mainly holds true for a holder of an active account who has violated the terms below.
Violation of Terms and Conditions
Any activities by an account holder against XM's terms and conditions are subject to the immediate freeze of the relevant account. Illegally earned profits cannot be withdrawn and are subject to forfeit. XM prohibits the following activities.
Transactions utilizing network failure, connection delay, and wrong price information
When many orders flood into the market at the beginning of the week or when an important indicator is released, the XM trading server may experience overload, which can cause network failure, connection delay and delivery of wrong price information. XM prohibits transactions utilizing such a possible gap.
Arbitrage
XM allows arbitrage within the same account. But arbitrage over different accounts, brokers or traders is prohibited.
Related Article:【Arbitrage】 Prohibited Acts as Arbitrage
Illegal bonus acquisition
XM account holders living outside Europe are entitled to earn bonuses. They can leverage the bonus program to increase money for investment and an opportunity to earn more profits. XM's bonus program is one of the best in the industry.
However, XM prohibits the holders from fraudulently acquiring bonuses. It includes the acquisition of Account Opening Bonus twice or more.
The detail of XM's bonus program is summarized in the below article.
Related Article:【Closer Look at XM’s Extensive Bonus Program】 Why does XM’s program attract traders?
How to Avoid or Lift Freeze
There is no way to lift a freeze. It is required to open another account (reuse of once-registered mail address is allowed). If you are unsure why your account got frozen, contact the support center.
To create a new XM account or contact the support center, please go to the below site depending on your country of residence.
XM Official Site (Outside Europe)
How to Confirm Account Status
Account status can be confirmed with MetaTrader4 (MT4). When a holder of a dormant account launches MT4 and logs into it, the below signs can be found.
- Charts and quotes are not updated.
- The communication status in the lower right corner of MT4 shows "No connection."
- My Page shows the grayed-out list of holding account types.
Also, a holder of a frozen account is not allowed to log in and is recommended to create a new account.
Conclusion
- XM follows the below steps for an inactive account.
- If no trading activity on an account can be confirmed, XM deems an account dormant.
- XM charges a monthly fee until the account holder does an activity to lift the dormancy or the balance turns zero.
- XM freezes a dormant account if no activity on the dormant account can be confirmed.
- Conditions of Dormant Account
If no trading or other activities on a trading account can be confirmed for 90 consecutive calendar days, the account is deemed dormant. USD 5.00 is charged to the account holder every month as an account maintenance fee.
- Conditions of Frozen Account
XM freezes the account if no activity on a dormant account can be confirmed within 90 consecutive calendar days after the balance turns zero or an account holder violates the terms and conditions. The holder of a frozen account is not allowed to deposit money or make a withdrawal.
If you use XM as the main broker, there is no need to worry about being suspended or frozen due to inactivity. But traders who use XM as a substitute broker are encouraged to do transactions with at least 0.01 lot once every 90 days to avoid being dormant or frozen.
