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Quoting XM
..... A long term strategy is not considered as abuse at all....
Quoting XM
{quote} However if the ultimate goal of someone requesting a Swap Free due to religious purposes is to carry trade (Keep trades open indefinitely) it will not be permitted and it will be considered an abuse of good will of providing this type of account. .....
So, how far of a long term strategy is acceptable and yet not considered as an abuse?
1 month
3 months
6 months
1 year
Quoting OceanPips
{quote} {quote} So, how far of a long term strategy is acceptable and yet not considered as an abuse? 1 month 3 months 6 months 1 year
A better question would be : is there a process of demonstrating that i am or not entitled to have swap free account ?
Who in their right mind wants to pay swap so let's all pretend to be something we aren't just so we get free swap.
If the brokers can afford to not cash in swap for some of the clients than why not for all of them?
My ancestors must have traveled around the globe and they should basically cover all the religions that ever existed so can i get swap free ?
Also i've been paying swap to xm in past 3 years but just recently discovered that i should have not so money back ?
Surely you can't say no cause you are the broker made these swap free accounts for a reason.

Never cared about swap as it does not influence my trading but just pointing out things.
Quoting TudorIoan
{quote} Get a Real Account! It works perfect.
This is the mail i get when opening demo account.

Welcome to XM
Thank you for choosing an XM Demo Account to practice your trading skills risk-free under real market conditions.

So your saying that message dosen't appear on live accounts?


And another question :
Is is permited to open a buy and sell position at the same time?
Quoting mitzescu
{quote} This is the mail i get when opening demo account. Welcome to XM Thank you for choosing an XM Demo Account to practice your trading skills risk-free under real market conditions. So your saying that message dosen't appear on live accounts? And another question : Is is permited to open a buy and sell position at the same time?
1. No. Why would a message like that would appear on real acc? ...there are no "risk-free" conditions in the real game.
2. Yes. "Hedging" is allowed on XM (also on Demo, I think)
Member
Quoting mitzescu
{quote} This is the mail i get when opening demo account. Welcome to XM Thank you for choosing an XM Demo Account to practice your trading skills risk-free under real market conditions. So your saying that message dosen't appear on live accounts? And another question : Is is permited to open a buy and sell position at the same time?
NO demo account from any broker in the planet will mimic exactly a live account .
thats pretty obvious!

A demo account cannot minic exactly the slippage / execution .

if you cannot figure that out then god help you when you start trading.
Quoting londonboy
{quote} NO demo account from any broker in the planet will mimic exactly a live account . thats pretty obvious! A demo account cannot minic exactly the slippage / execution . if you cannot figure that out then god help you when you start trading.
I don't believe you know what are we talking about.
I was saying that on the demo account when trying to put a buy stop, I got a message saying. Buy stop must differ by 210 points from actual price.
A minimum price difference between your stop and the market price is quite common. I had the same thing happen to me with Exness for example.

Actually I found the page on XM where they describe in details the different minimum stop levels = https://photoshar.in/xm-minimum-stop-levels
Quoting rockthepips
A minimum price difference between your stop and the market price is quite common. I had the same thing happen to me with Exness for example. Actually I found the page on XM where they describe in details the different minimum stop levels = https://photoshar.in/xm-minimum-stop-levels
I have never understood XM's justification for this tbh. It depends on the strategy you use depends on whether this matters or not.
There are other brokers such as Ic Markets and Pepperstone (off the top of my head) that don't have these minimums.
Quoting XM
{quote} Dear kosmo, All EU clients will be receiving their first alert about this matter on July 1st. Thank you for your message,
Hi XM,

It's July 2nd, and there's no official ESMA related communication from XM in sight. Is XM determined to keep its clients in the dark?

Other brokers already sent out the relevant info weeks ago. What makes XM to lag behind?
mind over matter
8 months making and withdrawing profits with XM without an single issue
10/10 online support chat, 48h withdraw to my debit card..
XM definitely one of the best out there.. for retails at least (;



pd: no, they don't care about your 20$ sl
Quoting kosmo
{quote} Hi XM, It's July 2nd, and there's no official ESMA related communication from XM in sight. Is XM determined to keep its clients in the dark? Other brokers already sent out the relevant info weeks ago. What makes XM to lag behind?

Hi XM,

I have just received an e-mail from you with the new ridiculous rules from the ESMA un-elected idiots! Please tell me if I can start trading with your ASIC Brand, as I see that on your XM Australia website you offer 500:1 Leverage and Bonuses.
Yes, is there an option to transfer the account to AU or to open an account there from EU ?
Quoting kosmo
{quote} Hi XM, It's July 2nd, and there's no official ESMA related communication from XM in sight. Is XM determined to keep its clients in the dark? Other brokers already sent out the relevant info weeks ago. What makes XM to lag behind?
Dear kosmo,

A notification was sent out yesterday to all clients with accounts under our EU based entities.

You most likely must have received an email and you will also be able to see a notification in your members area.

Thank you,
Quoting NoEsma
{quote} Hi XM, I have just received an e-mail from you with the new ridiculous rules from the ESMA un-elected idiots! Please tell me if I can start trading with your ASIC Brand, as I see that on your XM Australia website you offer 500:1 Leverage and Bonuses.
Dear NoEsma,

I always try to reply all questions here on Forex Factory however as your question is related to account opening I would rather not give you directions about account openings on forums or public threads.

The XM Group includes both EU-regulated and non-EU regulated entities (e.g., XM AU which is regulated by ASIC in Australia). You may wish to visit our website https://www.xm.com/regulation for more information about the XM Group regulated entities and directly contact directly the respective XM entity of your choice.

Thank you,
Quoting XM
{quote} Dear NoEsma, I always try to reply all questions here on Forex Factory however as your question is related to account opening I would rather not give you directions about account openings on forums or public threads. The XM Group includes both EU-regulated and non-EU regulated entities (e.g., XM AU which is regulated by ASIC in Australia). You may wish to visit our website https://www.xm.com/regulation for more information about the XM Group regulated entities and directly contact directly the respective XM entity of your choice....

Thanks a lot for your reply, I visited https://www.xm.com/au and I managed to open an account with XM Australia. ESMA can now officially take their restrictions and shove them.
Quoting merquise
Yes, is there an option to transfer the account to AU or to open an account there from EU ?
Dear merquise,

Your question is very much similar to the question posted by the user NoEsma,

I always try to reply all questions here on Forex Factory however as your question is related to account opening I would rather not give you directions about account openings on forums or public threads.

The XM Group includes both EU-regulated and non-EU regulated entities (e.g., XM AU which is regulated by ASIC in Australia). You may wish to visit our website https://www.xm.com/regulation for more information about the XM Group regulated entities and directly contact directly the respective XM entity of your choice.

Thank you,
Quoting merquise
Yes, is there an option to transfer the account to AU or to open an account there from EU ?
Seeing as XM is starting to talk drivel, and refere everyone to standard crap answers the answer you are looking for is NO.
If a broker has a EU office and regulated in the EU regardless of where their head office is based and you are an EU citizen, you cannot open an account with them outside of this jurisdiction.

Examples :
XM are regulated in Cyprus (which is the EU) and the UK (which is the EU). If you are an EU citizen your account with Xm will default to an EU regulated country. (UK or Cyprus) - cant avoid the EMSA rules. - you can't choose your account to be opened in Australia (currently although lost of brokers are trying to figure out a way around this.

Global Prime - Not regulated in the UK or EU therefore you can open an account with them and avoid the EMSA rules. which is a dumb European ruling by a bunch of unelected cretins telling EU citizens how to behave in life. They want us all to become robots dancing to their tune that they make up as they go along because they need to do something for their fat paychecks and ridiculous pension funds. Its the worlds biggest gravy train for people that wouldn't know the real world if it punched them in the face.

As an aside I have been told you should ask your broker if you can move to another jurisdiction. From my understanding, you can request it but they cannot offer it. Does make sense? In otherwords they cannot offer you to move unless you ask for it first.

It's just a load of pain in the a** bureaucracy
Quoting londonboy
{quote} Seeing as XM is starting to talk drivel, and refere everyone to standard crap answers the answer you are looking for is NO. If a broker has a EU office and regulated in the EU regardless of where their head office is based and you are an EU citizen, you cannot open an account with them outside of this jurisdiction. Examples : XM are regulated in Cyprus (which is the EU) and the UK (which is the EU). If you are an EU citizen your account with Xm will default to an EU regulated country. (UK or Cyprus) - cant avoid the EMSA rules. - you can't...
Hey Londonboy,

Despite your thoughts, I managed to open an Account with XM Australia in a breeze. All I had to do was go to https://www.xm.com/au, select 'Continue Anyway' on the popup, and then just register an Account. No further complications, and I have already started trading.

So yeah, despite your comments, there are definitely ways to get around this ESMA bullshit.
Quoting NoEsma
{quote} Hey Londonboy, Despite your thoughts, I managed to open an Account with XM Australia in a breeze. All I had to do was go to https://www.xm.com/au, select 'Continue Anyway' on the popup, and then just register an Account. No further complications, and I have already started trading. So yeah, despite your comments, there are definitely ways to get around this ESMA bullshit.
Recently i talked to XM AU support, and yup, you're right buddy, you can avoid ESMA making a new account with them, they support europeans clients too
now i'm just wondering if that's the best option tho
Quoting NoEsma
{quote} Hey Londonboy, Despite your thoughts, I managed to open an Account with XM Australia in a breeze. All I had to do was go to https://www.xm.com/au, select 'Continue Anyway' on the popup, and then just register an Account. No further complications, and I have already started trading. So yeah, despite your comments, there are definitely ways to get around this ESMA bullshit.
can anyone else on FF confirm this? (I am not disputing what you are saying NoESMA)
I spoke to my XM contact a couple of weeks ago about this and he said it wasn't possible (yet).

I have contacted him again for clarification.
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