In this article.XM (XMtrading)This section explains the prohibition of
XMwellCompletely free demo account versionis available, so you can try it out risk-free.
Also, XM is giving away a $30 trading bonus to anyone who opens a new account!For more information, visit the official website atPlease check from the following links.
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What does the XM ban cover?
Bilateral transactions between multiple accounts (between different accounts)
This is a bilateral transaction between multiple accounts (between different accounts).
XM allows up to eight accounts per account, but it is a breach of the Terms and Conditions to open more than one account within XM and to open both accounts.
- Buy USD/JPY in standard account / sell USD/JPY in micro account
- Buy Euro-Yen in standard account / Sell Euro-Dollar in micro account
Positions that hedge one currency (the euro), such as the latter, are also prohibited.
Double-digit (hedging) trading using another company's account.
It is also forbidden to open both sides of a trade with foreign FX firms other than XM (GEMFOERX, TitanFX, TradeView).
Trading only for window filling
In the foreign exchange market, [windows], which are price deviations from the previous week, can occur at the beginning of the week.
Such windows tend to be filled later in the week, but trading for profit solely by filling such windows is prohibited and is a breach of the Terms of Use.
High leverage trades aimed only at economic indicator releases.
XM uses a zero-cut system, so traders do not have to pay additional fees, but the firm will make up the difference.
Trading at high leverage during the announcement of economic indicators is an opportunity to make large profits, but also a risk of large losses, as the price moves significantly.
Many traders have lost money when they haveTo reduce the burden on contractors to compensate for these losses.to understand that they are prohibited.
Arbitrage
Arbitrage trading is an attempt to profit from temporary price differences between currencies in the same price range.
Arbitrage is prohibited by many forex companies, not just XM, as it ensures a profit when price differences occur.
Transactions in case of connection, server and rate errors
The next step is trading in the event of connection, server and rate errors.
Unauthorised acquisition of bonuses
XM offers a new account opening bonus of JPY 3,000, but it is prohibited to use false personal details to get a duplicate.
It is also prohibited to trade both sides of a transaction just for the XM points you get for each transaction.
Transactions by self-affiliates
Self-affiliates can earn affiliate commissions of between $3 and $10 per lot by opening an account + trading through the referral link of the XM affiliate they manage.
In fact, XM's terms of use confirm that.[Courses that appear to be through your own account or under your control are not considered as commissions (remuneration)].and prohibits self-affiliation.
Directly soliciting (in person, by telephone, etc.) a person residing in Japan to trade on XM.
This is not so much a XM rule as a JapaneseFinancial Services AgencyThe rules are set out by the
XM is not authorised by the Japanese Financial Services Agency as a forex firm and cannot directly conduct business activities for Japanese nationals.
It may also be illegal for XM users to solicit in person or by telephone.
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Click here for the official XM website.
*Now we're giving away a $30 bonus!
Penalty for breaching XM prohibitions.
If an actual breach of the rules is found, the following penalties are given
Penalty for breaching XM prohibitions.
- Confiscation of profits generated by the transaction.
- Refusal to withdraw/confiscation of bonuses
- Permanent freezing of trading accounts and suspension of accounts
Confiscation of profits generated by the transaction.
Profits made in breach of the Code are ill-gotten gains, so forfeiture of profits is justified.
The XM side will have a heavy burden to make up for the disadvantage, which is why they are making such severe penalties.
Refusal to withdraw/confiscation of bonuses
As well as confiscation of profits, it is not surprising that the withdrawal of illicit profits due to breach of terms and conditions is also no longer possible.
Permanent freezing of trading accounts and suspension of accounts
This is the most serious penalty.
Arbitrage (arbitrage) and window trading are popular methods on the internet and are too risky to use if you don't think you won't get caught.
↓arrow (mark or symbol)
Click here for the official XM website.
*Now we're giving away a $30 bonus!
summary
This article explains the prohibitions on XM (XMtrading).
XMwellCompletely free demo account versionis available, so you can try it out risk-free.
Also, XM is giving away a $30 trading bonus to anyone who opens a new account!For more information, visit the official website atPlease check from the following links.
↓arrow (mark or symbol)
Click here for the official XM website.
*Now we're giving away a $30 bonus!