XE Trader

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Currency Trading

The term “currency trading” can mean different things. If you want to learn about how to save time and money on foreign payments and currency transfers, visit XE Money Transfer.

These articles, on the other hand, discuss currency trading as buying and selling currency on the foreign exchange (or “Forex”) market with the intent to make money, often called “speculative forex trading”. XE does not offer speculative forex trading, nor do we recommend any firms that offer this service. These articles are provided for general information only.

How Forex Works

The currency exchange rate is the rate at which one currency can be exchanged for another. It is always quoted in pairs like the EUR/USD (the Euro and the US Dollar). Exchange rates fluctuate based on economic factors like inflation, industrial production and geopolitical events. These factors will influence whether you buy or sell a currency pair.

Example of a Forex Trade:

Why Trade Currencies?

Forex is the world’s largest market, with about 3.2 trillion US dollars in daily volume and 24-hour market action. Some key differences between Forex and Equities markets are:

  1. Many firms don’t charge commissions – you pay only the bid/ask spreads.
  2. There’s 24 hour trading – you dictate when to trade and how to trade.
  3. You can trade on leverage, but this can magnify potential gains and losses.
  4. You can focus on picking from a few currencies rather than from 5000 stocks.
  5. Forex is accessible – you don’t need a lot of money to get started.

Why Currency Trading Is Not For Everyone

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, it is advisable to seek advice from an independent financial advisor.

7 Binary Options

XE Trader is a new binary options trading platform that claims to offer a large variety of features for all levels of traders. However, at first glance, the system is too detailed for new traders and will only service seasoned traders. The initial investments start at $200 and increase, depending on which broker you chose to open your account. However, before you sign up for any trading system, it is recommended to find out if it is trustworthy or not. The following review will provide detailed information on the accuracy of XE Trader.

Basic information:

Cost: Free
Software: 100% Automated
Max Returns: Up to 90%
Minimum Deposit: $200
Countries: All nations

  • Fully automated
  • Offers a variety of trading assets
  • Brokers are not registered
  • Website does not give info as to how the system predicts its traders
  • Lack of substantial information on the company
  • Customer services is unreachable

7BO Verdict:

Not Reliable Service

What is XE Trader?

XE Trader was basically designed as an update and improvement to Optionbot 2.0, which is a popular trading system. The creators of XE Trader claimed to have made vast improvements on the original site without compromising the integrity of the system while adding in multiple new and advanced features. The video shows a number of testimonials from traders who have supposedly used the XE Trader system and while their reviews seem to be good, we have yet to see any substantial evidence as to the validity of this trading platform.

Screenshot

How to Access?

XE trader can be accessed online or on mobile devices. The signup process is very simple, as with most trading systems. You simply need to open an account with one of their recommended brokers. Then you must make a deposit of $200 or greater to get started. This varies according to the broker of your choice. You must use one of their brokers to open an account. Then you set your parameters and allow the system to make trades on your behalf. Once you earn a profit, you may withdraw your earning according to the policies set forth by your broker.

However, upon our investigation, we found out that none of their brokers are regulated. Also, we are not given any insight as to how XE Trader actually determines its trades. Due to these two facts, we feel that this system leaves a lot to be desired.

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Is XE Trader a Scam?

While we cannot say with 100% accuracy that XE Trader is a verified scam, we do cannot in good faith endorse this trading system. We were unable to get an honest and timely response from their support team via phone or email and we have seen far too many reviews saying that traders did not earn anywhere near the profits promised on the sales page. We recommend that you opt for a more reliable system.

Final Conclusion

As of this writing, we cannot recommend XE Trader as it has not yet yielded any positive results. Traders are not only complaining that they are not earning a profit, they are stating that they have lost their initial investment and were not able to get a hold of customer service. We have seen far too many negative reviews to give this product our blessing. We advise that you sign with a more trustworthy system. If you do decide to use this automated trading system, we advise that you proceed with caution.

Currency Trading Tools and Techniques

Know the Language

In Currency Trading, traders often use technical language that can be intimidating when you’re just starting out. When you see a word you don’t understand, you should refer to the Commonly Used Money Transfer Terms. As you familiarize yourself with the language, you’ll find that your understanding of Forex concepts as a whole will improve.

Technical Analysis

To develop a strategy, traders use a variety of tools and techniques. Some traders perform Technical Analysis by using Currency Charts to study the market. This technique assumes that past market movements will help predict future activity. The effectiveness of Technical Analysis makes it a very popular trading technique.

Fundamental Analysis

Other traders use Fundamental Analysis for their trading strategy. They follow the effect of economic, social and political events on currency prices. Reading specialized Forex News can help keep you in touch with the Forex community to find out how events might affect currency prices.

Practice makes perfect!

Every trader makes mistakes, so it’s a good idea to familiarize yourself with a trading environment before you invest your money. To improve your trading skills, try opening a free demo trading account with a Forex company.

Know the Risks

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, it is advisable to seek advice from an independent financial advisor.

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