Question: What is the difference between 'Bank wire' and 'Local bank' transfer in XM client portal?
“The bank wire transfer” is the normal bank transfer which you can deposit to XM’s bank account internationally.
“The local bank transfer” is the bank transfer you can deposit in the local bank account in your country.
You can use the local bank to deposit for 10 currencies which are USD, EUR, GBP, JPY, CHF, AUD, RUB, PLN, HUF and SGD.
*No local bank transfer for ZAR is available.
There are many other deposit methods for other currencies, and some of which can be processed instantly.
For the list of available funding methods, please visit XM Official Website and login to the Client Portal.