Once you learn how to set up deposits and withdrawals on XM, all you have to do is learn how to trade. At XM, you can trade on both smartphones and PCs. Let’s start with how to install and configure the tools for both. Prepare your ID, path, and server name in advance. If you forget it, please check with XM support.
- What is MT4?
- What is MT5?
- What are the differences between MT4 and MT5?
- Download trading tools
- Trade on PC version
- Trade on smartphone version
- Recommendations, features and main functions of XM registration
What is MT4?
MT4 is a trading platform developed and provided by MetaQuotes. It is the most used trading tool in the world and is the trading tool adopted by FX brokers all over the world. A feature of MT4 is that it not only allows normal discretionary trading, but also automatic trading using an additional program called EA. MT4 is a standard tool overseas. It is very simple to use and easy to make profits. The tools are displayed as a list on the official website and can be downloaded for free. We will introduce the contents of the tool for your reference.
MT4 can use automatic trading programs. The advantage of automated trading is that it eliminates all emotional and subjective biases. However, the failure rate is extremely high, and 99% of operators have suffered hardships, so please think carefully about whether or not to actually do it. You can set up how to start and the rules yourself, and standard settings can be made to suit each method.
MT4 allows you to use more than 20 indicators by default for high-performance charts. Therefore, MT4 is also recommended for those who like very maniac trading. Thorough technical analysis is essential when holding a position. Knowledge is essential at first, but by checking it, you can find out the reason why you are losing.
MT4 already has a policy that the development company will not fix any bugs. Because of this, even if there is a problem in the future, it will not be fixed. MT4 is not recommended because so many users have migrated to MT5. As a risk and precaution, the number of users will decrease in the future. Be sure to migrate to MT5 eventually.
What is MT5?
MT5 is a trading platform developed and provided by MetaQuotes. It is the most used trading tool in the world and is the trading tool adopted by FX brokers all over the world. Since MT5 is the successor version of MT4, its basic functions are overwhelmingly superior to MT4.
Currently, MT5 is a trading platform that MetaQuotes is putting a lot of effort into, so it is highly recommended. Since bugs have been fixed, even if you find a bug, you can resolve it by downloading the updated program.
Upward compatibility with MT4
MT5 is highly recommended as it is overwhelmingly superior to MT4 in terms of functionality such as time frame display and indicators. It is superior to MT4 in all functions, so it is also very easy to use.
What are the differences between MT4 and MT5?
XM allows you to use both MT4 and MT5 for free depending on the operating company. Entry is easy and there are many bonuses and campaigns. It is very convenient as it allows instant payment and partial payment. If you are a first-time user, try using both and use the one that goes well with you. Both have good reviews, so choose the one you like best. You can also trade using a smartphone app.
|time frame||9 types||21 types|
|navigator window||can’t create folder||You can create any folder|
|operating speed||slower than MT5||Faster than MT4|
|Indicative price||Currency pair tick chart||View details and price boards|
|update||No updates since 2018||Update ongoing|
MT4 has not been updated since 2018. MT5 is superior in terms of functionality, but many people are accustomed to MT4 because there are few EAs and custom indicators, but considering the future, MT5 is better.
Download trading tools
At XM, you will trade using MT4 or MT5. You can download these tools by logging into your XM account. After logging in, press the platform button and the following screen will appear.
Trade on PC version
Various applications have been developed for smartphones, doublets, personal computers, etc., depending on the intended use. If you are a common web trader on any platform, you can immediately log in and use it.
It will be the screen display of MT4 on the web. You can place an order by pressing the red + button. By the way, S/L means stop loss. Loss is automatically cut when the price reaches this value. There is T / P, but this is the opposite and refers to the profit taking point, which is called take profit. It is a mechanism that will be automatically settled when this value is reached.
Here, we will place trading orders, order changes and settlement orders according to the deposit amount, account balance, and margin. You can decide the currency pair, the number of lots, the quantity, etc.
In actual trading, you place an order while making such detailed specifications and press the order button to confirm. You can see the detailed operation image by watching the following video.
Market orders can be placed by right-clicking on the chart -> Place order -> New order.
limit order, stop order
Unlike market orders, limit orders and stop orders are reserved orders. It is possible by right-clicking on the chart → Place order → New order. Different from the market order, you can order by specifying the order type as Buy Limit, Sell Limit, Buy Stop, or Sell Stop.
|Order type||How to order|
|Buy Limit||Reserve buy order specifying a lower price than now|
|Sell Limit||Pre-sale order specifying a higher price than the current price|
|Buy Stop||Reserve buy order specifying a higher price than the current price|
|Sell Stop||Reserve sell order specifying a lower price than the current price|
Trade on smartphone version
XM can also be traded on smartphones. For the smartphone version, first download the app to your smartphone.
You can see the current rate from this screen, and click to proceed if you want to buy or sell.
You can place an order from the quoted price or on the chart. You can place an order by clicking on the “Trade” tab.
limit order, stop order
As with the PC version, limit orders and stop orders can also be placed on smartphones. You can order by specifying Buy Limit, Sell Limit, Buy Stop, Sell Stop.
First, let’s trade until you can smoothly place a market order. If you get used to it, try limit orders and stop orders.
Recommendations, features and main functions of XM registration
XM is a very popular FX company both in Japan and abroad, and it is quite popular because you can use multiple accounts on My Page. Document screening is rigorous, there are many brands, and zero cuts are adopted. It is very popular and highly rated compared to other companies in the industry such as fxgt, exness, axiory, and gemforex.
Abundant deposit methods
XM supports credit card, debit card, bank transfer, bxone, sticpay, and bitwallet procedures. Your deposit will be reflected immediately, so you can start trading immediately. Even beginners can get started investing right away. In the case of a bank account, payment is only available on weekdays, and there are also services available at convenience stores.
Perfect security measures
At XM, when you register, you register personal information such as name, date of birth, email, and investor information, and the identity verification management is quite thorough. There have been no major incidents such as hacking incidents or withdrawal refusals. The operating company’s services are available 24 hours a day, so safety is guaranteed. When verifying your identity, you will be required to provide identification such as a passport, driver’s license, or My Number. Passwords can also be set in lowercase or uppercase letters.
About transaction methods