| XM | AXIORY | TitanFX | GEMFOREX | iFOREX | |
|---|---|---|---|---|---|
| RATING | |||||
| Max Leverage | 1:888 | 1:400 | 1:500 | 1:1000 | 1:400 |
| Spreads EUR/USD | 0.83 (XM Program Considered) | 1.0 | 0.92 | 1.2 | 0.9 |
| Negative Balance Protection | ✓ | ✓ | ✓ | ✓ | ✓ |
| Min Deposit | $5 | $200 | $200 | $50 | $100 |
| BONUS | ✓ | × | × | × | × |
| Necessary documents | Identity document Proof of address | Identity document Proof of address ID selfie ＊Trade is possible without identity verification | Identity document Proof of address | Proof of address ID selfie | Identity document Proof of address ＊Trade is possible without identity verification |
What is Forex?
To make this simple, imagine you are getting ready for a trip to New York and you exchange 500 Euros into Dollars. A week later, your trip is unfortunately cancelled and you decide to change your Dollars back into Euros. Surprisingly, you end up with 505 Euros: a profit of 5 Euros!
This is known as a profitable foreign exchange trade. You initially purchased Dollars at a certain rate of exchange and during the week that followed, the value of the Dollar went up against the value of the Euro.
Without even meaning to do so, you managed to make a small profit as you bought your Dollars at a low rate and sold them back at a higher rate – the aim of any successful trade.
Nowadays, there is no need to go to a bank or post office, or even leave your house for that matter – you can simply trade online using your home computer or mobile phone.
As mentioned above, from the palm of your hand you can trade Forex, which includes currencies such as the Dollar or Euro, a variety of Commodities such as Gold or Oil and even major market indices.
Explains many features of forex
Negative Balance Protection
It is a mechanism that even if the account balance becomes negative, it will be zero .
If you have additional proof, you will have to pay the negative amount even if you debt, but this is not the case with Negative Balance Protection.
The only thing you lose due to unintended sudden fluctuations is the money you put in your FX account.
Over 1:1000 High Leverage
Forex allows you to trade foreign currencies for a small amount, giving you a chance to get rich.
The risk can be greatly reduced in conjunction with the Negative Balance Protection mechanism because you can trade with only a small amount in your account .
Choose an NDD-type broker that offers transparent trade.
It is unclear what the DD type broker actually does because the broker operates between you and the market.
There are some brokers which can lower spreads by profits that beat traders.
Spreads are a source of revenue for forex brokers.
And the NDD type tends to spread more than where the spread is using the DD type. However , orders for NDD- type brokers are highly transparent, and there is no operation, such as losing due to rejection, and the execution power is high.
Forex broker also allows you to trade stock indices and individual stocks in the above environment without further proof.
“Bonus” that can trade more than the deposit amount is luxurious.
Brokers such as XM have a “bonus” mechanism.
You cannot withdraw bonuses, but you can withdraw any profits that result from trading with the bonuses.
・No Deposit Bonus
A bonus that allows you to trade without deposit. you can trade with this as margin.
This bonus is granted when you verify your identity after opening an account.
・Deposit Bonus
Bonus given to your account when you make a deposit.
Usually, a 100% deposit bonus will be given to your account on the first deposit.
If you have this bonus, you will be given a bonus for the amount you deposit, so you can trade twice as much as the deposit amount.
Is high leverage dangerous?
Yes, of course, it is dangerous if you spend all of the money in your account.
But if you are trying to trade the same amount, for example, $10,000, high leverage is by far the best.
The margin required for trading 0.1lot (10000 currencies) in EUR / USD is only $ 12.3.
4 carefully selected! Recommended Forex broker ranking
| XM | AXIORY | TitanFX | GEMFOREX | iFOREX | |
|---|---|---|---|---|---|
| RATING | |||||
| Max Leverage | 1:888 | 1:400 | 1:500 | 1:1000 | 1:400 |
| Spreads EUR/USD | 0.83 (XM Program Considered) | 1.0 | 0.92 | 1.2 | 0.9 |
| Negative Balance Protection | ✓ | ✓ | ✓ | ✓ | ✓ |
| Min Deposit | $5 | $200 | $200 | $50 | $100 |
| BONUS | ✓ | × | × | × | × |
| Necessary documents | Identity document Proof of address | Identity document Proof of address ID selfie ＊Trade is possible without identity verification | Identity document Proof of address | Proof of address ID selfie | Identity document Proof of address ＊Trade is possible without identity verification |
XM is one of the most popular forex broker without any trouble such as refusal of withdrawal or execution.
The main features of XM are leverage, bonus and execution power.
leverage is 1:888. Bonus of trading $ 30 just by opening an account. 99.35% of all orders are executed within one second.
There is also Negative Balance Protection, which is a perfect account to open forex beginners first. These powerful features will lead you to victory even if you are a beginner.
This is also a company that has realized strong contracting power and even minimal spread
.AXIORY is a newcomer with 7 years of operation history, but operates fairly and supports the latest trading software "cTrader" (of course MT4). It is also gaining popularity because of its characteristics.
AXIORY's leverage is 1:400, there is no limitation of scalping, and scalper is also attracting attention.
AXIORY is a recommended company that you can trade with confidence.
TitanFX has been a popular broker for four years, with the industry's lowest spread of at least 0.0 pips, high execution capacity without rejection by "Zero Point Technology", and 1:500 leverage.
TitanFX has no campaigns or bonuses but has no scalping restrictions and is popular with scalpers.
It is a borker that is expected to become more popular due to the recent support for MT5.
Spread is minimal spread, leverage is 1000 times.
It is a broker that you can use over 150 kinds of EA (automatic trading software) for free.
Recently, the conditions for using EA for unlimited free have become lower, so it is a recommended trading company.
How to start forex easily in 5 steps
- Choose a forex broker
- Create an account with the broker of your choice
- Install trading software
- Deposit to the created forex account
(if the broker has a No Deposit Bonus, you can trade without deposit)
What you need: Internet connection, smartphone, tablet or PC, initial funds ($ 500 or more from surplus funds), bank account (to receive profit)
Choose a forex broker
It is also true that while some brokers offer excellent FX services, unauthorized and vicious forex brokers are hiding.
I think the criteria for avoiding bad brokers are as follows.
- whether the broker has a financial license
- Business size and name recognition
- reviews
- Execution power (whether there is no execution refusal)
And so on.
By identifying the brokers that do not fit these, you can select the forex broker that suits you best.
・Recommended forex broker for those who start forex
XM is one of the most popular forex broker without any trouble such as refusal of withdrawal or execution.
The main features of XM are leverage, bonus and execution power.
leverage is 1:888. Bonus of trading $ 30 just by opening an account. 99.35% of all orders are executed within one second.
There is also Negative Balance Protection, which is a perfect account to open forex beginners first. These powerful features will lead you to victory even if you are a beginner.
If you choose an unscrupulous broker, you may not be able to withdraw money even though you have earned it.
So it is important to select a good and reliable forex broker.
Create an account with the broker of your choice
After selecting a broker, access the official website of the forex broker(if it is XM, here ) and enter the necessary information.
Complete the form below as they are displayed in your identity document.
After completing the form, you will be required to submit an identity document.
Generally, it is sufficient if you have a recent utility bill (eg electricity, gas, water, phone, oil, Internet and / or cable TV connection, bank account statement) to prove your license, passport and address.
Install trading software
Most Forex brokers support both trading software “MT4” and “MT5”, which are distributed on the website of Forex brokkers, so let’s download and install it.
- free
- Dozens of technical indicators are installed
- You can use an automated trading program called EA
- Orderable from chart
- supported by multiple forex brokers
Deposit to the created forex account
Let’s deposit if you can do so far.
There are two main deposit methods, Bank Transfer and Credit Cards.
| | Time until payment is received and reflected | Deposit fee |
| credit card | Immediate reflection | free |
| Bank transfer(sometimes called wire transfer) | 2~7 business days | free |
The recommended deposit method is a credit card .
If you pay by credit card, the deposit will be reflected immediately.
However, it is required that the name of the account and the name of the credit card be the same.
Based on the above, to start FOREX immediately
This is a series of ways to start forex.
Also, if you are new to forex trading, it is a good idea to acquire technical knowledge such as how to read charts by searching through technical analysis.
For those who are starting FX, please refer to the following carefully selected forex brokers.
If you have a good account, you can open an account and start forex!
4 carefully selected! Recommended Forex broker ranking
| XM | AXIORY | TitanFX | GEMFOREX | iFOREX | |
|---|---|---|---|---|---|
| RATING | |||||
| Max Leverage | 1:888 | 1:400 | 1:500 | 1:1000 | 1:400 |
| Spreads EUR/USD | 0.83 (XM Program Considered) | 1.0 | 0.92 | 1.2 | 0.9 |
| Negative Balance Protection | ✓ | ✓ | ✓ | ✓ | ✓ |
| Min Deposit | $5 | $200 | $200 | $50 | $100 |
| BONUS | ✓ | × | × | × | × |
| Necessary documents | Identity document Proof of address | Identity document Proof of address ID selfie ＊Trade is possible without identity verification | Identity document Proof of address | Proof of address ID selfie | Identity document Proof of address ＊Trade is possible without identity verification |
XM is one of the most popular forex broker without any trouble such as refusal of withdrawal or execution.
The main features of XM are leverage, bonus and execution power.
leverage is 1:888. Bonus of trading $ 30 just by opening an account. 99.35% of all orders are executed within one second.
There is also Negative Balance Protection, which is a perfect account to open forex beginners first. These powerful features will lead you to victory even if you are a beginner.
This is also a company that has realized strong contracting power and even minimal spread
.AXIORY is a newcomer with 7 years of operation history, but operates fairly and supports the latest trading software "cTrader" (of course MT4). It is also gaining popularity because of its characteristics.
AXIORY's leverage is 1:400, there is no limitation of scalping, and scalper is also attracting attention.
AXIORY is a recommended company that you can trade with confidence.
TitanFX has been a popular broker for four years, with the industry's lowest spread of at least 0.0 pips, high execution capacity without rejection by "Zero Point Technology", and 1:500 leverage.
TitanFX has no campaigns or bonuses but has no scalping restrictions and is popular with scalpers.
It is a borker that is expected to become more popular due to the recent support for MT5.
Spread is minimal spread, leverage is 1000 times.
It is a broker that you can use over 150 kinds of EA (automatic trading software) for free.
Recently, the conditions for using EA for unlimited free have become lower, so it is a recommended trading company.
Forex Comparison Chart | Compare spread, leverage and loss cut level.
Average spread
| Currency pairs (pips) | iForex | XM | XM*2 | FBS | GEM | is6com | AXOIRY | TitanFX |
| USDJPY | 0.9 | 1.5 | 0.83 | 2.5 | 1.2 | 1.6 | 1.0 | 1.12 |
| EURJPY | 1.2 | 2.5 | 1.83 | 1.5 | 1.4 | 2.3 | 1.3 | 1.46 |
| EURUSD | 0.9 | 1.7 | 1.03 | 0.9 | 1.2 | 1.5 | 1.0 | 0.92 |
| GBPJPY | 2.5 | 3 | 2.33 | 2.8 | 1.9 | 3.1 | 2.3 | 2.17 |
| GBPUSD | 1.5 | 2.1 | 1.43 | 1.5 | 1.5 | 2.4 | 1.5 | 1.29 |
| USDCHF | 1.5 | 2.4 | 1.73 | 1.1 | 1.9 | 2.3 | 1 | 1.64 |
| AUDJPY | 3 | 3.3 | 2.63 | 1.8 | 1.6 | 2.9 | 1.5 | 1.84 |
*GEM is GEMFOREX. Standard account for both GEM and XM.
*AXOIRY is a nano spread account and includes a commission
*TitanFX is a blade account and includes a commission ($7)
*2 When adding the XM loyalty program (-0.67 pips after 100 days)
Leverage
| Forex broker | Maximum leverage |
|---|---|
| Axiory | 1:400 |
| iForex | 1:400 |
| XM | 1:888 |
| TitanFX | 1:500 |
| GEMFOREX | 1:1,000 |
| is6com | 1:1,000 |
| FBS | 1:3,000 |
