Forex Facts for Traders
Forex Facts for Traders Successful forex traders make modest gains Most of the …
XM.com Review and Broker Profile
They are now so established they have roughly 2.5 million clients located in 196 of the countries in the world. In addition they claim 2.4 billion transactions with zero requotes or rejections ever.
XM is a big broker, but they also want to be a fair broker and one with a human side. That’s driven the meetings with the management team and clients in over 120 cities to date. And it has led to the development of a broker with over 450 global employees with long years of financial market experience.
As part of being a human focused company they offer support in more than 30 languages. This allows them to help traders from all around the world, and with experience levels ranging from beginners to professionals.
With 16 platforms based on MetaTrader 4 and MetaTrader 5, there is something for every trader. Plus, all the platforms are available in either demo or real accounts. These multi-asset trading platforms give clients access to six different asset types, and over 1,000 individual assets.
Plus the broker offers up dozens of additional training and educational tools, from technical analysis to economic calendars, to live seminars.
Quick Look
As part of the research process to write this review, we set up a demo account with XM. We accessed their trading platforms to test for execution and stability, among other things. The process of opening a demo account was straight-forward, easy, and quick.
Anyone familiar with the MetaQuotes platforms will understand us when we say it is apparent XM is treating their clients to the most advanced trading platforms on the market. MetaTrader 4 is the standard for forex trading platforms for many years. Now MetaTrader 5 is rapidly becoming the standard for multi-asset trading.
The platforms work smoothly, with trades getting instant execution. Whether on desktop, web, or mobile the trading experience is world-class.
With a choice between the MT4 or MT5 platform, and versions for most types of devices, the broker has made trading available to everyone interested in exploring the financial markets.
Regulations & Licenses
Although the parent company Trading Point of Financial Instruments Ltd. is a U.K. based company, the XM part of the business is licensed in Australia and Cyprus.
- Trading Point of Financial Instruments Ltd is licensed by the Cyprus Securities and Exchange Commission under license number 120/10.
- Trading Point of Financial Instruments Pty Ltd has been issued an Australian Financial Services License by the Australian Securities and Investment Commission (number 443670).
In addition, all clients of XM enjoy negative balance protection, meaning they cannot lose more than the amount available in their account.
Clients are also protected from broker failure by the CySEC Investor Compensation Fund. This fund will pay up to €20,000 to investors who lose their account due to the failure of a regulated firm.
Languages
The broker’s website is available in 22 different languages, but support is offered in 30 languages. The MetaTrader 4 and MetaTrader 5 platforms have dozens of different languages that can easily be applied. Most clients should be able to find a language they are comfortable with.
Account types
Retail Trader Accounts
XM makes five different types of accounts available to their retail clients.
The Standard and Micro accounts are quite similar. Both have leverage up to 888:1 and both have a $5 minimum deposit. Spreads are as low as 1 pip and there are no commissions. The primary difference between the two is the lot size, which makes lots smaller in the Micro account. This gives clients the ability to put on smaller trades more easily. Both accounts accept a wide range of base currencies: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, and ZAR.
The third account type is the XM Ultra Low Account, and it has spreads which are a bit lower starting at 0.6 pips. There are no commissions, and a minimum deposit of $50. It is a market-maker account like the other two, and has leverage up to 888:1. Supported base currencies are EUR, USD, GBP, AUD, ZAR, and SGD.
The fourth account type available is an ECN-type account called the XM Zero Account. This account can have spreads as low as 0 pips, but also charges a commission on each trade. The commission on the EUR/USD pair is just 0.0035%, which is equal to 0.8 pips. That makes it a very competitive rate. The minimum deposit is a bit higher at $100. Also, the maximum leverage for the XM Zero account is 500:1. Supported base currencies are USD, EUR, and JPY.
All four of these account types allow hedging, scalping, and automated trading via Expert Advisers.
The fifth account type is new and somewhat different from the others. This is the shares account. It is used specifically for share trading. There is a high $10,000 minimum deposit, and the USD is the only supported base currency. There is no leverage for this account and spreads are determined per the underlying exchange.
Demo Account
All traders are able to open a demo account at XM and practice trading without risking any real money. These demo accounts begin with $100,000 in virtual funds and traders can test their strategies on the desktop, web and mobile versions of XM’s platform. Registering for a demo account took me less than 60 seconds. These demo accounts have no expiry date and can be used as long as desired. Demo accounts that have been inactive for longer than 90 days from the last login will be closed. However, users can open a new demo account at any time. Please note that maximum of 5 active demo accounts are allowed.
Fees, Costs & Spreads
XM has variable spreads that start from as low as 0 pips on the EUR/USD pair. The spreads are dependent on which type of account the client holds but are still competitive with global brokers. One of the accounts also comes with commissions, but again the commissions are small enough that they are very competitive with other brokers.
There are very few other fees that traders will come across when dealing with this broker. There are no deposit or withdrawal fees. There is an inactive account fee of $5 a month for account that have been inactive for 90 days.
One other potential cost is incurred when positions are held overnight. This is the swap fee, and it is variable based on the asset being held. In some cases a swap can be a fee and in others it can be a credit.
Deposits & Withdrawals
Deposits can be made for as little as $5 through Moneybookers, Skrill, and NetTeller, as well as via bank transfer and credit card. XM also accepts Western Union and Moneygrams as deposit options. In all cases there are no deposit fees. Deposits can be made in any currency and they will automatically be converted to the base currency of the trading account. Deposits are credited instantly to client accounts, except bank transfers, which might take up to 5 business days.
Withdrawals can all be made through the same methods. There are no withdrawal fees with the exception of bank transfers for less than $200, which incur a $20 transfer fee. Withdrawals take 24 hours to be processed by XM, and bank transfers can take up to 5 business days.
One restriction is that withdrawals cannot be made until an account is validated. The validation process includes providing Proof of Identity (ID, passport, driving license) and Proof of Residency (utility bill, telephone/Internet/TV bill or bank statement), which includes the client address and name and can’t be older than 6 months.
Trading Platforms
XM provides its clients with a choice between the MetaTrader 4 platform and the MetaTrader 5 platform. The MetaTrader 4 platform is an award-winning forex trading platform, while MetaTrader 5 was developed for multi-asset trading. In both cases there is a desktop version, a web-based version, and a mobile version of the platform.
In addition, the platforms are available for both Windows and Mac operating systems, and for both Android and iOS mobile operating systems. In total there are 16 versions of the two platforms available to traders.
MT4
XM was the pioneer in offering the MetaTrader 4 platform. Although this platform is offered at many brokers, none focus on trading execution in the same way as XM, who boast they have never had a requote – ever. MT4 is respected as the top forex trading platform, and at this broker traders get access to 57 currency pairs, and single login access to 8 different platforms. Other benefits of the platform include support for Expert Advisor trades, one-click trading, a massive library of technical analysis tools, and a variety of chart types.
MT4 is available for Windows and Mac, Android and iOS, and via a WebTrader. While the WebTrader comes with no downloads, it also has limited functionality.
MT4 Multiterminal
Those who handle more than one account can take advantage of the MT4 Multiterminal at XM. This supports up to 128 trading accounts with just 1 master login and password. It is an ideal solution for those selling their services as a signal provider.
MT5
MT5 gives access to multiple asset types and ECN and STP style execution. Clients can gain access to a variety of additional features, and different order types such as “Fill or Kill” or “Immediate or Cancel” order. Of course MT5 also comes with all the technical analysis tools that MT4 became famous for as well.
Assets Available
After considering security and cost, the range of available assets is the next important consideration when choosing a broker. At XM clients have access to more than 1,250 different assets. That includes 57 different forex pairs, as well as five other asset types.
One of the largest selections here is in the stock category, where there are more than 1,000 different stocks to choose from. This includes stocks from all across the globe. Those who are serious about trading stocks will find plenty of options here.
Another asset class many traders prefer is the commodities, and there is a selection of 8 soft commodities and 5 energies that are available to trade. Of course, the broker also makes gold and silver available, however there are no exotic metals like palladium and platinum.
Equity indices are well represented, with the broker giving clients trading access to 18 different equity indices.
Even though this isn’t the largest offering of assets, we think it is sufficient to satisfy nearly every trader, especially when stocks are the focus. Even for those who are looking for diversified offerings will find plenty worth trading.
Order Types
In addition to offering the usual order types of limit orders, market orders, stop loss orders, and trailing stop orders traders are able to take advantage of “fill or kill” orders and “immediate or cancel” orders.. The variety of orders types helps to manage risk and avoid market whipsaws.
Notification and Alerts
Because the broker offers MetaTrader 4 and MetaTrader 5 it’s possible to use the alert systems built into those platforms. Those alerts are price-based and can be sent to email or SMS push. There are additional alert services that work with MT5 and are offered by third parties that can be used as well.
Trading and Risk Management Tools
There are no specific trading or risk management tools being provided other than those already present within the trading platforms. There are also educational materials that help learn about risk management and can make traders more aware of their risk exposure and risk profile.
Education and Training
It has to be said that XM gives its clients an impressive array of research, education, and trading tools.
Let’s face it, trading the financial markets is serious business and requires an extensive amount of knowledge and ongoing study of current market changes and global events. Brokers aren’t required to provide this knowledge and research, but those that do can be considered to stand a cut above the rest.
XM hasn’t simply thrown together some materials just to say they have an education center. They’ve actually put serious work into creating a true resource for traders.
Traders will find research in the form of key global news reports and analysis of markets. This includes both fundamental analysis and technical analysis. Stocks, commodities, and forex are covered by this analysis.
The XM Learning Center consists of educational videos, webinars, MT4/5 Platform tutorials, and Forex seminars.
There is also a live education room, where traders can come and see professionals trading the markets live, and in real-time. In most cases these live education rooms are open eight hours a day, five days a week.
It’s also impressive to see that the webinars being offered can be viewed in 13 different languages. These include Arabic and Indonesian.
The section containing the video tutorials is updated several times daily and contains a seemingly endless number of videos. These videos range from platform tutorials to breaking news to detailed technical analysis of markets.
In addition to the basic videos it’s also possible to watch previous webinars, as well as signing up for those that haven’t yet occurred. And of course there is an economic calendar to let traders know what economic events are coming up that might influence market prices.
Finally, traders can access a number of trading tools such as forex calculators and free forex signals.
Customer Support
Beyond basic questions to clarify trading terms and conditions most traders will have no reason to contact customer support at their broker. But it is still good to know that there’s a knowledgeable, professional, and dedicated team that can be contacted when necessary.
The customer support team at XM is known to have an excellent reputation in taking care of clients. Part of that is because they are available Monday through Friday, 24 hours a day via telephone, email and live chat. Part is because the representatives speak English, Greek, Japanese, Chinese, Bahasa Malay, Bahasa Indonesia, Hungarian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Korean, Portuguese, Czech, Slovakian, Bulgarian, Romanian and Dutch.
But mostly it’s because the customer support team is always professional and knowledgeable and will see through any issue to the satisfactory resolution for each client.
We tested their reputation by asking a few basic questions via email and via live chat. In each case the customer service rep responded promptly and completely to our questions.
Independent Opinion & Rating
In the decade it’s been in existence, XM has built a solid reputation for itself by emphasizing its clients and the human factor behind trading. We have to agree that they deserve the reputation they’ve built. It’s a good broker whether looking for security, good spreads, solid customer service, a variety of assets, or a good trading platform. They have also added an education and training center that’s superior to most other brokers we’ve reviewed.
We were also impressed with the small $5 minimum deposit, and the lack of any fees for deposits and withdrawals. XM will even cover the cost of third-party fees in most any case, which is something that can’t be found elsewhere.
This is a good broker for beginning traders, intermediate traders, and even experienced traders. We give them two thumbs up for building a reputable, useful, and successful trading experience
XM.com Review and Broker Profile - Broker Specs
Company Information
| Headquarters |
AUS: Level 13, 167 Macquarie House, Macquarie Street Sydney 2000, NSW, Australia. CY: 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus +357 25029933 [email protected] |
| Website: | https://www.xm.com/ |
Account Options
| Account Type: Flexible account types give you the option of choosing a pricing model that best suits your trading style. most have accounts that are Ideal for traders who want a traditional, spread pricing, currency trading experience or For traders who are seeking ultra-tight spreads with fixed commissions. and even some that are designed for serious high-volume FX traders looking for maximum control as a trader you have to decide what you need and find the broker tat provides that | Market Maker |
| Account Currencies: A foreign exchange account, or Forex account, is used to hold and trade foreign currencies. Typically, you open an account, deposit money denominated in your home country currency, and then buy and sell currency pairs. so most brokers offer the larger currencies like the USD , GBP and EUR , some have others also depending on their locations and regulation | EUR USD GBP JPY AUD CHF PLN RUB SGD |
Spreads:
What is spread in Forex?It is basically the difference between buying and selling prices of the assets you are currently trading. For example, let’s imagine a USD/JPY trade. In this pair’s case, we are buying JPY with USD, so we need to calculate accordingly. The market is requesting a price of 109.77 JPY per USD, so we buy. There’s another person trying to sell his USD and he is seeing a price of 109.79 JPY per USD. Once the trade goes through each trader gets the according amount and the spread comes in to be at 2 pips. So 109.79-109.77= 0.02. But what is a spread in Forex trading? Why is there a gap between these prices? Well, it’s quite simple. The spread is usually an income source for the broker. Every broker has a “liquidity provider” who directs the trades to the market and helps both the broker and the trader make payouts.Those liquidity providers have their own spread as well, so if the broker wants to have at least some income, they either have to charge commissions on the traders, or mark the spread up. |
Variable Spreads, Zero Spreads |
| US Clients Accepted: | |
|
Deposit Methods:
Deposit Methods Planning to trade forex online? After you choose a broker and register an account, your very next step before you can trade will be to deposit funds. Most brokers offer a wide variety of deposit methods for your convenience. This article will help you understand deposit methods more fully so that you can choose the one which is best for your needs. This is an essential step to take if you want to keep your trading experience smooth, affordable and hassle-free. What is a Deposit Method? A deposit method is simply a means which is used to deposit money into your forex trading account. A related term is “withdrawal method,” which is the means used to withdraw money from your forex account. In many cases, the method you use for depositing money will also double as your withdrawal method. Most forex brokers provide a list of deposit and withdrawal methods they accept on their banking pages. There you should also be able to view transfer times and fees. Common Deposit Methods for Forex in 2021 In 2021, many different deposit methods are accepted for forex. Here are a few: Credit or debit card Bank transfer E-wallet (i.e. PayPal, Skrill, etc.) Prepaid cards (i.e. paysafecard) Check or money order Bitcoin or other cryptocurrencies On our site, you may read through detailed articles on all of these deposit method categories, as well as popular providers in each. Note that not all forex brokers offer the same list of deposit methods. Some may accept only a few different methods, while others may provide dozens of options. Fees, transfer times, and other details also may vary from one broker to the next. For that reason, it is very important to check out the banking information for any broker you are thinking of using before you sign up. |
Neteller , Multiple Local Payment Methods like Credit/Debit Card, Neteller, Skrill, Bank Wire Transfer, etc. |
Customer Service
| Supported Languages: |
English, Spanish, Italian, Portuguese, Russian, Polish, Chinese(traditional), Chinese(simplified), Arabic, German, Latvian, Indonesian, Malay, Ukrainian, Czech, Thai, Estonian, Vietnamese |
| Support / Service Hours: | 24hrs/ 7 days |
| Live Online Support: | |
| Phone Trading Available: |
Trading Software
Trading Platforms
What Is a Trading Platform?A trading platform is software used for trading: opening, closing, and managing market positions through a financial intermediary such as an online broker. Online trading platforms are frequently offered by brokers either for free or at a discount rate in exchange for maintaining a funded account and/or making a specified number of trades per month. The best trading platforms offer a mix of robust features and low fees. There are two types of trading platforms: prop platforms and commercial platforms. As their name indicates, commercial platforms are targeted at day traders and retail investors. They are characterized by ease-of-use and an assortment of helpful features, such as news feeds and charts, for investor education and research. Prop platforms, on the other hand, are customized platforms developed by large brokerages to suit their specific requirements and trading style. |
Web Trading, MT4, MT5 |
| Supported OS: | Windows, Windows Phone,, Android, iPhone |
Trading
| Instruments- Range of Market Range of Market what are you able to trade here and what are the different financial asset categories that this broker offers, for example do they offer trading cryptocurrency or do they not, do they offer trading in gold etc. what are the majors and exotic pairs they have , | Forex, Indices, Precious Metals, Oil, Commodities, CFD Stocks, Cryptocurrencies | ||||||||||||
| Automated Trading Automated trading is a method of participating in financial markets by using a programme that executes pre-set rules for entering and exiting trades. As the trader, you’ll combine thorough technical analysis with setting parameters for your positions, such as orders to open, trailing stops and guaranteed stops. Auto trading enables you to carry out many trades in a small amount of time, with the added benefit of taking the emotion out of your trading decisions. That’s because all the rules of the trade are already built into the parameters you set. With some algorithms, you can even use your pre-determined strategies to follow trends and trade accordingly. | Yes | ||||||||||||
| Hedging Allowed Hedging with forex is a strategy used to protect one's position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets. There are two related strategies when talking about hedging forex pairs in this way. One is to place a hedge by taking the opposite position in the same currency pair, and the second approach is to buy forex options. | |||||||||||||
Scalping Allowed
ScalpingScalping, when used in reference to trading in securities, commodities and foreign exchange, may refer to either a legitimate method of arbitrage of small price gaps created by the bid–ask spread, or a fraudulent form of market manipulation. How scalping worksThis section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2010) (Learn how and when to remove this template message) Scalping is the shortest time frame in trading and it exploits small changes in currency prices.[1] Scalpers attempt to act like traditional market makers or specialists. To make the spread means to buy at the Bid price and sell at the Ask price, in order to gain the bid/ask difference. This procedure allows for profit even when the bid and ask don't move at all, as long as there are traders who are willing to take market prices. It normally involves establishing and liquidating a position quickly, usually within minutes or even seconds. The role of a scalper is actually the role of market makers or specialists who are to maintain the liquidity and order flow of a product of a market. The profit for each transaction is based only on a few pips (basis points), so scalping is typically conducted when there are large amounts of capital and high leverage or there are currency pairs where the bid–offer spread is narrow. |
|||||||||||||
|
Guaranteed Stops
Guaranteed stops
One way to ensure your stop is executed exactly where you specify is by placing a guaranteed stop. Guaranteed stops work in the same way as basic stops, except that they will always be filled at the level you set, even if prices move rapidly or gapping occurs.
If your guaranteed stop is triggered, you will incur a fee known as the stop premium on the closing of the trade.
To set a guaranteed stop on your deal or order ticket, click the drop-down arrow under ‘Stop’ and select ‘Guaranteed’.
Costs of a guaranteed stop
The stop premium varies depending on the market you are trading, and you’ll only be charged if the stop is triggered. You can see the guaranteed stop cost before opening a deal, as the stop premium will display near the bottom of the ticket. This premium is held separately alongside the margin, and if triggered will appear as an itemised charge in your history and overnight statement.
Benefits of using a guaranteed stop
In the event of a sudden, rapid market movement, an example of how a guaranteed stop can act like an insurance is shown below.
Let us consider three different clients, A, B and C, using different methods to manage their account.
All three clients have an open buy trade of £10 per point of USD/JPY at 11027.5. During the sudden fall in the value of USD/JPY on 2 January 2019 – known as a ‘flash crash’ – most clients were closed out at 10686.4, while the pair bottomed out at 10472.7. Here’s the impact on the three accounts:
Comparing the scenarios above, client A, who placed a guaranteed stop on their position, has greatly minimised their losses compared to clients B and C. If the flash crash had not happened, and the guaranteed stop had not been triggered, there would have been no impact on client A as the guaranteed stop premium would only have been charged if the stop was triggered.
Why am I unable to edit my guaranteed stop?
Generally, guaranteed stops can be edited after you add them. However, there are some scenarios in which you won’t be able to edit your guaranteed stops:
1. The market is closed
When the market is closed, you can only move your guaranteed stop further away (increasing your guaranteed stop distance). You will not be able to move your guaranteed stop nearer. 2. An increase in the minimum guaranteed stop distance During periods of increased or expected market volatility, we may increase the minimum guaranteed stop distance as compared to the initial guaranteed stop distance. In such situations you will have to adhere to the new guaranteed stop distance when amending your guaranteed stop. |
|||||||||||||
Trailing Stops
What Is a Trailing Stop?A trailing stop is a modification of a typical stop order that can be set at a defined percentage or dollar amount away from a security’s current market price. For a long position, an investor places a trailing stop loss below the current market price. For a short position, an investor places the trailing stop above the current market price. A trailing stop is designed to protect gains by enabling a trade to remain open and continue to profit as long as the price is moving in the investor’s favor. The order closes the trade if the price changes direction by a specified percentage or dollar amount. A trailing stop is typically placed at the same time the initial trade is placed, although it may also be placed after the trade. |
|||||||||||||
Interest on Margin
Interest on MarginA profit margin is a measure of how much money a company is making. In the world of futures trading, margin is a deposit that an investor puts down in order to enter a position. Meanwhile, in stock trading, margin is money borrowed from a broker. Beware before taking out one of these loans, however, as money borrowed in margin accounts will incur interest charges.Types of MarginMargin in the futures market is a lot different from margin in equities trading. In futures trading, margin is a deposit made with the broker in order to open a position. The amount is a fixed percentage—usually between 3% and 12%—of the notional value of the contract. There are no interest charges to the customer on futures margin because it is not a loan. |
|||||||||||||
Negative Balance Protection
What is the negative balance protection?Negative balance protection means that you can't lose more than your deposited money, i.e. you won't owe money to the broker. Let's say you deposit $1,000 to your account and you buy a share with 5:1 leverage. In this case, you will have a position of $5,000. If there is a market turbulence and your share price drops 7%, you will suffer a 35% loss due to your leverage. This is $1,750 loss in dollars. This loss will eat your $1,000 deposited money and a further $750 which you will owe to the broker. If you do this transaction at a broker which provides a negative balance protection, your loss can't be bigger than the deposited $1,000. |
|||||||||||||
| Phone Trading Available: | |||||||||||||
Social / Follow Trading
Social TradingSocial trading is a form of investing that allows investors to observe the trading behavior of their peers and expert traders. The primary objective is to follow their investment strategies using copy trading or mirror trading. Social trading requires little or no knowledge about financial markets, and has been described as a low-cost, sophisticated alternative to traditional wealth managers by the World Economic Forum. |
|||||||||||||
Spreads:
What is spread in Forex?It is basically the difference between buying and selling prices of the assets you are currently trading. For example, let’s imagine a USD/JPY trade. In this pair’s case, we are buying JPY with USD, so we need to calculate accordingly. The market is requesting a price of 109.77 JPY per USD, so we buy. There’s another person trying to sell his USD and he is seeing a price of 109.79 JPY per USD. Once the trade goes through each trader gets the according amount and the spread comes in to be at 2 pips. So 109.79-109.77= 0.02. But what is a spread in Forex trading? Why is there a gap between these prices? Well, it’s quite simple. The spread is usually an income source for the broker. Every broker has a “liquidity provider” who directs the trades to the market and helps both the broker and the trader make payouts.Those liquidity providers have their own spread as well, so if the broker wants to have at least some income, they either have to charge commissions on the traders, or mark the spread up. |
Variable Spreads, Zero Spreads | ||||||||||||
|
Trading Signals Provided
A forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time. The signal is generated either by a human analyst or an automated Forex robot supplied to a subscriber of the forex signal service. Due to the timely nature of signals, they are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method. In many jurisdictions signal services need to be registered with the authorities. |
|||||||||||||
| Additionally | Swap Free Accounts ( Islamic Account) |
Bonuses & Promotions
|
Deposit Bonus
When you decide to start trading Forex (FX) online, you will of course need to select a good broker. While traders will look for many useful features when choosing a Forex broker, they will also come across a lot of aggressive advertisements from various FX brokers, that will try to entice new traders with an attractive Forex deposit bonus.
n general terms, a bonus is simply a way of compensating traders for choosing a certain broker. Once a person has opened an account with a Forex broker, they will be trading currency pairs, and will have to incur the same expenses as any other trader. The bonus is just a way for the broker to reward the trader’s choice, and give all or some of these expenses back to the trader, once they have proven themself as an active one.
How Does a Forex Deposit Bonus Work? There are many bonuses offered by brokers, with some of them being given to you post-trading, and others being deposited to your account as soon as you have completed a deposit. Bonuses that are known as rebates are credited to your account once you have completed a trade, while regular bonuses may require you to carry out quite a number of trades first. So how does the Forex deposit work? As this is a deposit bonus, a trader has to of course make a Forex deposit via an account manager, after they have accepted the terms & conditions and have successfully applied. Usually, once the account has been deposited, it may take a few hours (or days, in some exceptional cases) to actually receive the bonus on your account. Once the bonus is there, a trader may start opening and closing positions with the aim to trade the required volume, in order to claim the bonus as their own property. Once a trader has completed the required volume, the bonus money can be transferred from the broker to the trader. After this, a person can do whatever they want with these funds. |
$30 USD Trading Bonus (Non-Deposit Bonus) “Clients registered under Trading Point of Financial Instruments Ltd (XMCY) are not eligible for bonus promotions. |
| First Deposit Bonus How To Receive A Hefty Forex Deposit Bonus? Forex deposit bonuses come in different shapes and sizes. Although some Forex brokers offer large bonuses and promotions to rope in clients, Forex bonuses are usually not as popular as in other industries such as binary options trading, spread betting, and sports betting. Unlike gaming or gambling websites, Forex trading is a legitimate business idea that allows an investor to make informed decisions on the market and earn a stable and steady income. Although professional traders stay away from Forex bonuses, amateur, and intermediate traders may find bonuses to aid them in their journey towards building a successful trading portfolio. What Are The Usual FX Bonuses Available For Trading Forex deposit bonuses start from as low as 5% of the deposit amount to as high as 100% of the initial deposit. Some brokers also offer up to 200% or an even larger numbers, but a majority of mainstream brokers limit the amount of bonus to a 100% maximum. These bonus structures are usually dependent on the amount of deposit, the type of account, and the credibility of the broker. According to industry norms, trusted and reliable brokers often offer fewer bonuses when compared to other lesser-known brokers. On the other hand, the availability of a bonus or the lack of it alone is not entirely representative of the quality and reliability of an FX company. Some FX brokers also offer a free no-deposit bonus that allows traders to start trading without making an initial deposit. Such no-deposit bonuses are ideal for traders to enjoy a risk-free environment where they can evaluate the real-life results of their trading strategies without putting their hard-earned money on the line. No deposit bonuses are also excellent alternatives to demo accounts, as demo accounts are mostly incapable of replicating the actual emotions and psychology of trading on a large scale. No deposit bonuses start from $1 to as high as $1000; however, there might be several restrictions when it comes to withdrawing profits made through such bonuses. | First Deposits Bonus is broken into 2 tiers 50% up to $500 plus 20% up to $4,500 |
| Trader competitions |
XM.com Review and Broker Profile - Reviews
Top Rated
Recent Compares
Skip to content