Frequently Asked Questions
Economic markets, financial investing, and forex trading can get confusing at times. We have compiled clear and concise answers to some of the most frequently asked questions below. If you still have questions after going through these FAQs, feel free to send us a message so that we can clear things up for you.
What is Forex trading?
Forex is the currency exchange market. Traders invest and open a position in the market, speculating on how this price will change over time. If the price of EURUSD changes according to your prediction, you profit. Likewise, if your prediction is wrong, you may lose your investment.
How do I start trading?
-
To learn how to trade and make money, you can choose either one of our services. It is recommended that you start with the online classes first. However, if you already have knowledge of how forex trading works, our robots and/or signals are a great place to start.
Which broker do you recommend and how do I open an account?
XM has been proven to be a reputable broker who makes deposits and withdrawals effortlessly easy.
-
1. Fill out the registration form and sign up here.
-
2. Download a MetaTrader trading platform.
-
3. Verify your account.
-
4. Deposit using your preferred method.
-
5. Start trading immediately!
Can I practice trading first?
Yes. You can open a demo account and start practicing your trading skills, with virtual currency, anytime you want. You can practice trading Forex as well as all other CFDs.
What's the minimum amount of money I need to start trading?
You can start with any amount; however, we recommend you start with at least R1000.
How do I withdraw my money?
You can request a withdrawal at any time you want. Requests are processed daily by XM's accounts department. Withdrawals are sent back to the deposit source(e.g. If you used your bank account to deposit, you will receive your withdrawals via your bank account).