In order to open a live account, you will need to register your profile by clicking on any of the “open live account” buttons throughout the website or directly via this link: https://my.xs.com/register
Please allow our onboarding team up to one business day to verify your documents and approve your account. However we always aim to have your account open within few hours.
In order to review your account, we will require the below documents: Proof of Identity – a coloured copy of your travel passport containing your photograph, full name, valid expiry date and your signature. (If no valid passport is available, please upload a similar identification document such as National ID card or Driving license) Proof of Address – a recent utility bill (e.g. electricity, gas, water, waste disposal, Internet or a Bank Statement) dated within the last 6 months and confirming your name and the registered address.
This is due to obligatory ‘Know your Client’ (KYC) procedures that we must follow, in accordance with international Anti Money Laundering (AML) regulations
Log in to your MT4 platform, go to the Market watch window, right click and select “Show all”. Now, you should be able to see all instruments available for trading.
All trading involves risk. It is possible to lose all your capital.
Trade Cryptocurrencies with XSTrades
XSTrades offers you the opportunity to trade the world’s most popular cryptocurrencies using CFDs. CFDs, or contract for difference, allow you to speculate on the price movement of the Cryptocurrency (Crypto) you are interested in without having to take actual ownership of the underlying assets or hold it in a special digital wallet.
How does Crypto Trading work?
The price movements on Cryptocurrencies like Bitcoin, Doge or Ethereum are driven mainly by demand and supply factors and prevailing traders’ sentiment. Cryptocurrencies tend to be very volatile and combined with leveraged trading, you can create opportunities on the minimal initial margin required. Leverage also comes with substantial risk, so it is important to understand the risks that comes with leverage before trading.
Unlike other asset classes, cryptocurrencies are decentralised and controlled almost entirely by retail investors. They are generally not issued by any central authority, making them theoretically at least, immune to government interference or manipulation.
Crypto Trading Example
The underlying asset is Bitcoin, BTCUSD.
Let us suppose that BTCUSD is trading at: US $ 45000
You decide to buy 1 contract of BTCUSD because you belive that the price of BTC against the USD will increase due to high demand.
The market moves in your favour and the price increases to $45900 and you decide to close your trades and lock your profit by selling all the CFD contracts you hold.
In our example, the price moves in your favour and the pair rises to $45900. You decide to close your trades and lock your profit by selling the Crypto CFD contract you hold. But, had the price declined instead moving against your prediction, you may had resulted in a loss.
The gross profit on your trade is calculated as follows: