A "wagering requirement" on a forex bonus is the minimum trading volume you must complete before profits earned with the bonus credit become withdrawable. It is almost always expressed in round-turn lots — opening and then closing one full lot counts as one round-turn lot. This page explains how the math really works, with worked examples for the XM country-specific deposit bonus.
The one-sentence definition
Wagering requirement = minimum round-turn lots to trade × bonus amount factor, which together define the volume threshold below which profit withdrawals are blocked.
Why brokers impose them
The trading volume you generate is what pays for your bonus. Spread, swap and (where applicable) commission revenue accrue to the broker on every trade. The wagering requirement makes sure the broker's revenue from your trading at least matches the cost of the credit before any cash leaves the platform. This is how a $30 bonus is a profitable customer-acquisition tool rather than a $30 loss.
Lot sizes — quick reference
Worked example — XM $30 on a Micro account
XM's published no-deposit terms state a minimum of 5 round-turn trades and 10 micro lots of total volume (0.1 standard lots) before profits from the $30 bonus can be withdrawn. Always confirm the live counter in your own Members Area.
| If you trade in... | ...you need this many round-turn trades | Realistic? |
|---|---|---|
| 0.02 lots | 5 trades | Hits both the 5-trade and 10-micro-lot minimums |
| 0.01 lots | 10 trades | Lowest simple sizing path to 10 micro lots |
| 0.10 lots | 5 trades | Clears the minimum quickly, but risk is high for a $30 stake |
Three practical ways to reach 10 micro lots
| Path | Example sequence | Why use it? |
|---|---|---|
| Lowest simple size | 10 round-turn trades at 0.01 lot | Smallest per-trade exposure; useful if you are learning |
| Minimum trade count | 5 round-turn trades at 0.02 lot | Meets both the 5-trade and 10-micro-lot minimums cleanly |
| Faster but riskier | 5 round-turn trades at 0.05 lot or larger | Clears the volume quickly, but one bad move can erase the $30 |
Hidden costs — read this before sizing your trades
Even when the bonus and the volume are "free", three things eat into the realisable P&L:
- Spread. On EURUSD, ~1.0 pip on a Standard account. On 0.02 lot that is roughly $0.20 per round-turn — multiplied across 5 trades = about $1 spread cost before slippage.
- Swap. Holding positions overnight incurs swap interest. A scalping or day-trading style avoids most of it.
- Slippage. Around news events, fills can drift. Avoid scheduling your bonus trades around major data releases.
The implication: large position sizes are not a shortcut. You burn through the $30 in two bad ticks. Conservative sizing is what lets the volume requirement complete.
What does not count toward the requirement
- Hedged trades. Simultaneous opposing positions on the same instrument are filtered out.
- Trades closed within an unusually short interval (e.g. less than a few seconds), where some brokers exclude them as anti-arbitrage protection.
- Trades on excluded instruments. Some bonus T&Cs exclude exotic pairs or specific CFDs from the volume tally.
How to check your live progress
- Log into the XM Members Area.
- Open the Promotions section or the current bonus card shown in your Members Area.
- Look for the lot-volume counter — it usually shows "X.XX of Y.YY lots completed".
- Use that number, not anything else, to decide when to request a withdrawal.
The honest verdict on wagering requirements
A reasonable wagering requirement is one of the markers of a legitimate bonus, not a red flag. Brokers without a requirement are inviting fraud and adverse selection, which leads either to closed promotions or denied withdrawals down the line. The old XM $30 no-deposit condition was towards the lower end of the industry range, but current XM bonus eligibility is now country-specific and must be checked in the Members Area.
Open an XM account
Standard or Micro account · Profits withdrawable after trade-count and volume requirements