What can I do if I’m getting a ‘Not Enough Money’ error? | XM (2024)

FAQs

What can I do if I’m getting a ‘Not Enough Money’ error? | XM? ›

If you're getting a 'Not Enough Money' error, check that there's enough equity in your account to cover the trade you want to place. To find out the exact amount you need, use our margin calculator.

This message will only appear when entering into a position if you do not have enough free Margin to pay the Initial Margin for the position.

If 'Not enough money' message pop up it means that there is not enough money to cover the margin requirement on the account, you will need to fund your account or close some/all open trades if any to free up margin.

If 'Not enough money' message pop up it means that there is not enough money to cover the margin requirement on the account, you will need to fund your account or close some/all open trades if any to free up margin.

I would use the money for travel. Traveling, getting to know new places, people, customs, lifestyles enrich us. I've traveled the world but I'm sorry I didn't travel even more. And with so much money, if I had it for ten lives, I could help the people I meet along the way, the people who really need help.

Just as with a paper check, it's important to maintain sufficient funds in the account to cover all payments. Please note that you may be charged a non-sufficient funds (NSF) fee for payments returned for insufficient funds.

If you don't have enough money in your account

Most banks will contact you if a payment has failed, giving you a deadline to put enough money in – often by 2pm that same day. If they still can't make the payment, you might have to pay an unpaid transaction fee or overdraft interest if they make it anyway.

If your account does not contain sufficient funds to cover the payment, any overdraft protection you may have on the account will be used. If you still do not have enough funds to cover the payment(s), you will be charged a fee for insufficient funds (NSF).

What not to tell a broker? ›

Limited trading options: Some trading strategies may require a larger trading account to be effective. With only 10 dollars, you may not be able to trade certain instruments or use certain strategies.

While it's technically possible to trade gold with $10, it's not advisable. Such a small amount would severely limit your trading options and expose you to excessive risk.

Generally, it's recommended to use lower leverage when you have a smaller account size to minimize the risk of significant losses. A leverage of 1:10 or 1:20 can be a good starting point for a $5 account.

Exness – Lowest Cost MT5 Account

The MT5 Standard Account only requires a minimum deposit of 1 USD but provides access to the full range of Exness assets, including crypto trading and indices.

You likely have outstanding purchases/subscriptions that are attempting to bill you.

An overdraft occurs when you don't have enough money in your account to cover a transaction and the bank pays it. Examples are overdrafts caused by check, in-person withdrawal, debit card purchase, ATM withdrawal, or other electronic means.