Is the popular XMTrading’s spreads on currency pairs wider than other companies’ accounts depending on the time of day? Is it really a company that can win with gold and foreign exchange? It is popular for its generous bonuses, 888x high leverage, and zero-cut system with no debt risk, which allows for low-risk, high-return trading, but what is the reality?
At XMTrading, spreads are wide depending on account type.
XM has wide spreads. It is very difficult to use for those who trade using a method called scalping. XM’s spreads tend to be wider compared to other companies. However, some currency pairs may be narrower than other brokers, so please check before trading. Even if you look at it as a possibility, if the spread is wide, there is a high possibility that you will lose even if you hold a position in the market.
bonuses and campaigns
The width of the spread is related to bonuses, campaigns, and XMP points. At XM, standard accounts and micro accounts are eligible for bonuses, but the spread is wide accordingly. From a company’s point of view, it is profitable to give a lot of bonuses and have them trade and lose. If you want to narrow the maximum spread and pips width, you will have to pay transaction fees, but KIWAMI accounts and zero accounts are safe.
Can be used as margin
XM has a cushion function and offers bonuses and campaigns, which has the great advantage of being able to use bonuses as margin. Because of this advantage, the spreads are widened regardless of the brand. Therefore, no matter how much money you put in or how much time you spend, the system is such that there are few wins and it is easy to lose money. If the spread is wide during price movements, it will work against you.
Account types with narrow spreads
There are also account types with narrow spreads. If you calculate it, there may be a round-trip transaction cost, but these are the KIWAMI and Zero accounts. For reference, there is a tendency for spreads to spread when economic indicators are announced or in the early morning hours, but this is also likely to spread with different standard accounts, and the conditions will be similar even if averaged. The details are the same when selecting not only foreign exchange but also gold, etc. In effect, it is affected in real time.
unbeatable forex trader
What kind of company is a FX company that cannot win? There are quite a few businesses around the world that are not profitable and will never win. As a basic knowledge, we will introduce the operations, methods, and examples. The more you enter the FX company, the more you need to be careful. They are often costly and lack sufficient transparency.
Lack of transparency in management
There are quite a few FX traders, both domestic and overseas, but it can be said that there is a risk to say that they are not licensed by some country or regulated by an organization.
Without at least approval from the Financial Services Agency, it cannot be said that there is transparency in the actual operation status. I can’t help but question the mechanism. This transparency is important when choosing a FX broker for first-time users. Even if you increase your funds through swing trading, etc., you will not be able to withdraw your cash.
low contracting firm
The important thing when taking a position is the “contract power”. Among FX traders, there are traders with extremely low contracting power, and it is impossible to take a position at all at the desired point. Oh my God.
Manipulation
FX is easy to understand, so I think it’s just a rumor, but let’s check it out. It is difficult to make a profit from the trader’s Forex if it is illegally manipulated.
Contractors who have problems that cannot be dealt with on our side are at risk. From the user’s point of view, it would be better to suspect that there are too many rejections. The only way to avoid this is to change companies.
Withdrawal refusal
The biggest problem with FX companies is that there are some companies that refuse refunds or withdrawals. I haven’t heard of such rumors at major companies, but it seems like they still happen at minor companies. It depends on the management company’s thinking, but the more newly launched the company, the more risky it is. Because I don’t want to pay any money back. In some cases, the terms and conditions do not mention anything related to withdrawals at all.
XM Reliability
Is XM reliable as a FX broker? If you answer the question, you can say “Yes.” XM started its service in 2009 and has a track record of over 10 years. If it is a fraudulent company, it will not be possible to build up a track record for even 10 years. Scalping, automatic trading (EA), and even swing trading are OK. You can also trade precious metals, energy, virtual currency (Bitcoin), stocks, etc.
Transparent company management
XM is very open to company information. Company information is also listed on the homepage. We also have a financial license. Our company has multiple operating companies and has been operating for a long time, so we have a high degree of reliability compared to other companies. Nowadays, you can also make small transactions, so it is suitable for beginners. It is also used by many professional traders and experienced traders.
Very high commitment
XM is famous for its extremely high execution power. [99.35% of all orders are executed within 1 second] is a feature of XM, so it can be said that the execution power is very high and excellent. As an investor, you can time your orders. There is also a wealth of content, including webinar programs. There is also a loss cut function. There is no manipulation, and zero cuts are used without margin calls. However, when it comes to economic indicators, the market environment gets a little rough. This is because we receive a large number of entry orders. As a countermeasure, we recommend waiting.
Very few withdrawal rejections
XM does not refuse refunds. However, there are some prohibited acts even on XM, so we recommend checking the terms of use. In the case of prohibited acts, withdrawals may be refused and the account may be frozen. The base currencies are dollar, euro, and Japanese yen. You can also check the status of your funds transfer within the page.
Trader reviews and reputation
So what are the opinions of traders who are actually trading? We have collected some opinions. Many users are satisfied with the maximum leverage of 1000x. There are no trade rejections, so you can trade 100% at your own discretion. It has a reputation that you can earn quite a lot of money. Many people tend to do day trading and short-term investing.
XM is often said to have wide spreads in the industry. There are also reports of people losing a lot of money because of their unique system. Each product has its own characteristics, so in order to fight advantageously, you will need to gain at least some experience and get to know the quirks. By learning, you will become accustomed to slippage and be able to use it from the quote screen with confidence.
Even with high specs such as KIWAMI, there are times when the spread is wider. Settlements should be avoided during the New Year holidays, early hours, and economic indicators. There are four types of accounts, but it can be difficult for individuals to figure out how to use them. Nowadays, trading is possible from smartphones and is becoming more stable. If you are unsure, try logging in on a computer. It is said that the number of servers will be increased in the future, so it will be a good environment for advanced traders.
In a liquid market, there will inevitably be times when the spread widens. This is especially true if you get lucky with the news. When buying and selling from home, we recommend that you always keep an eye on global events. No matter how high the leverage, if the timing is bad, the stock index or exchange rate will move significantly.
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