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 Forex with XSTrades
Forex trading, also known as Foreign Exchange, currency trading or FX is a global market for trading one currency and selling another simultaneously. Forex is the world’s largest market, with more than $5tn traded every day around the world 24 hours a day, 5 days a week. FX markets benefit from a high level of volatility and liquidity, making it very attractive to both professional and retail traders. Access the world’s forex markets and get tight spreads, starting from as low as 0.0 pips.
How does Forex Trading work?
Forex trading is the price speculation of one currency against another and it is always traded in pairs. FX markets are traded as currency pairs where a trader will buy or sell one currency against a base currency. For example, a EUR/USD buy trade, represents buying EUR and selling USD. With the high volume of trading, particularly in the spot market, traders can potentially take advantage of the high liquidity and volatility in the foreign exchange market.
Forex Trading Example
The underlying asset is EUR/USD
Let us suppose that EUR/USD is trading at: 1.05250
You decide to buy 1 lot EUR/USD (the equivalent of 100,000) because you think that the pair will rise in the future.
In our example, the price moves in your favour and the pair rises to 1.05450. You could close your 1 lot position at this level and book the profits as per below. 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: