There are many users who open accounts when trading with the overseas FX broker XM, but in comparison, there are many users who do not realize that there are risks when opening an account through a cashback site such as TariTali. I have written an article about what those risks are.
cashback site
There are two ways to open an XMTrading account: from the official page or via a cashback site. If you are opening an account from the official page, please refer to the following article. There are also rebates available by logging in to the official page, and some transactions can be done automatically, so there are plenty of benefits. There are not many disadvantages. You can also add a standard account and trade CFDs.
The cashback sites mainly include the following companies. The benefits of using cashback sites include saving transaction costs and high cashback rates. If you go through the cashback site, you can get cashback, so you can trade at low cost.
| Number of FX companies handled | cashback rate | commission | Minimum withdrawal amount | Deposit days | |
| TariTali | 19 | High | Free | 1,500 | － |
| RoyalCashBack | 17 | High | Free | 5,000 | Within 3 business days |
| FinalCashBack | 39 | usually | Free | 5,000 | 2-3 business days |
| CASHBACK Victory | 18 | usually | Free | 5,000 | － |
| CASHBACK FOREX | 39 | Low | ＄40 | $200 | － |
The most famous one is TariTali. It is known that the cashback rate is extremely high compared to other sites. Please note that some domestic services may have different cashback amounts and profits. Lots and leverage are the same. In reality, it is better to aim for maximum profit.
TariTali
TariTali has a very high cashback rate. It is known that many users choose TariTali when they are unsure of which cashback site to choose. This site is popular among many Japanese traders. It has the best system and the rebates such as XMP are very high. There are many eligible stocks and the management system is the most solid. The contract is fast, so the amount is large.
RoyalCashBack
Basically, the unique bonus campaigns are attractive here, and they always have great campaigns and programs. The high cashback rate is very attractive, so many users tend to use this site. On average, there are a lot of customers. It seems to be used as a dedicated account by professionals. Be sure to check the terms of use as well.
FinalCashBack
This site has 39 trading companies, so it is recommended for those who want to use multiple FX companies. It is also a long-established site established in 2011, so it can be said to be a very reliable site in terms of safety. Basically, it is a reliable site even in Japan, and is a recommended site for investing.
CASHBACK Victory
CASHBACK Victory is a site for Japanese traders. It is popular because it specializes in Japanese sites and regularly holds campaigns.
CASHBACK FOREX
The site has a slightly lower cashback rate, but it is recommended for users who trade with multiple Forex companies because there are 39 Forex companies that are trading. The downside is the $40 fee.
Risks of cashback sites
Using cashback sites comes with risks. We will introduce the disadvantages of registering an account from a cashback site. We do not recommend opening an account through a cashback site as you may not be able to receive bonuses or some transactions may not be eligible for cashback. If you open from the XM official website, you will get a lot of bonuses and there is no risk.
Bonus not applicable
XM trading bonuses are quite generous. There are account opening bonuses, deposit bonuses and even loyalty points. However, if you open an account through a cashback site, you will not receive these bonuses. Furthermore, campaigns such as friend referral bonuses and promotions will not be applicable, so it is very risky.
Transactions not eligible for cashback
If you open an account via a cashback site and trade, there are transaction methods that are not eligible for cashback. For example, scalping transactions within 5 minutes are not eligible for cashback. In addition, transactions with a price difference of 5.9 pips or less are not eligible for cashback. Furthermore, transactions using bonuses are not eligible, so you can see that there are quite a lot of restrictions.
trading volume
To benefit from the cashback, the number of trades must be high anyway. If so, rather than using a cashback site in the first place, opening an account from the official site, receiving a bonus and trading has many advantages overall.
wide spread
If you open an account and trade via a cashback site, the spreads tend to be wider than if you register on the official page. Many users are surprised by the malicious spreads when they go through a malicious site, and there are many cases where there is no benefit. If you hold a position with a wide spread in gold or virtual currency, you are likely to incur losses at settlement.
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