There are so many users who open XM trading accounts, but when opening via cashback sites such as TariTali, many users are unaware of the risks involved. I wrote an article about what the risks are.
There are two patterns for opening an XM trading account: opening from the official page and going through a cashback site. If you want to open from the official page, please refer to the following article.
The cashback sites mainly include the following companies. The benefits of using cashback sites include saving transaction costs and high cashback rates. If you go through the cashback site, you can get cashback, so you can trade at low cost.
|Number of FX companies handled||cashback rate||commission||Minimum withdrawal amount||Deposit days|
|RoyalCashBack||17||High||Free||5,000||Within 3 business days|
|FinalCashBack||39||usually||Free||5,000||2-3 business days|
The most famous place is TariTali. It is known that the cashback rate is extremely high compared to other sites.
TariTali has a very high cashback rate. It is known that many users choose TariTali when they are unsure of which cashback site to choose. A lot of Japanese traders choose this site and it is popular.
Unique bonus campaigns are attractive here, and we are always running great deals. The high cashback rate is very attractive and many users tend to use this site.
It is a site with 39 traders company and is recommended for those who want to use many Forex companies. Since it is also a long-established site established in 2011, it can be said that it is a very reliable site for safety.
CASHBACK Victory is a site for Japanese traders. It is popular because it specializes in Japanese sites and regularly holds campaigns.
The site has a slightly lower cashback rate, but it is recommended for users who trade with multiple Forex companies because there are 39 Forex companies that are trading. The downside is the $40 fee.
Risks of cashback sites
Using cashback sites comes with risks. We will introduce the disadvantages of registering an account from a cashback site. We do not recommend opening an account through a cashback site as you may not be able to receive bonuses or some transactions may not be eligible for cashback. If you open from the XM official website, you will get a lot of bonuses and there is no risk.
Bonus not applicable
XM trading bonuses are quite generous. There are account opening bonuses, deposit bonuses and even loyalty points. However, if you open an account through a cashback site, you will not receive these bonuses. Furthermore, campaigns such as friend referral bonuses and promotions will not be applicable, so it is very risky.
Transactions not eligible for cashback
If you open an account via a cashback site and trade, there are transaction methods that are not eligible for cashback. For example, scalping transactions within 5 minutes are not eligible for cashback. In addition, transactions with a price difference of 5.9 pips or less are not eligible for cashback. Furthermore, transactions using bonuses are not eligible, so you can see that there are quite a lot of restrictions.
To benefit from the cashback, the number of trades must be high anyway. If so, rather than using a cashback site in the first place, opening an account from the official site, receiving a bonus and trading has many advantages overall.
If you open an account via a cashback site and trade, the spread tends to be wider than registering from the official page. Many users are surprised at how wide the malicious spread is when they go through a malicious site, and often there is no benefit.