Vietnamese passport drops 5 places in the 2024 rankings

Advertisements

In 2024, the number of countries and territories that Vietnamese citizens can enter without a visa or with visa-on-arrival remains unchanged.

Vietnamese passport drops 5 places in the 2024 rankings. Photo: Hoang Lam.

Henley & Partners has recently released the ranking of the most powerful passports in 2024 – the Henley Passport Index. Notably, Vietnam is positioned at 87th out of 104, dropping 5 places compared to the previous ranking in July 2023. However, the number of countries and territories allowing Vietnamese citizens to enter without a visa or with visa-on-arrival remains at 55 points.

For the first time, this index features 6 countries sharing the top spot. Citizens of these 6 nations, including France, Germany, Italy, Japan, Singapore, and Spain, can enjoy visa-free or visa-on-arrival access to 194 destinations worldwide. This marks the highest number recorded since the inception of the Henley Passport Index 19 years ago.

The rest of the top 5 witnesses a notable rise of European countries. Finland and Sweden share the second position with South Korea, boasting 193 destinations, while Austria, Denmark, Ireland, and the Netherlands hold the third position with 192 destinations.

Belgium, Luxembourg, Norway, Portugal, and the United Kingdom secure the fourth position, whereas Greece, Malta, and Switzerland claim the fifth position.

Australia and New Zealand have improved their rankings and currently stand at the sixth position alongside the Czech Republic and Poland. Meanwhile, the United States, Canada, and Hungary share the seventh position, enjoying visa-free access to 188 destinations.

The UAE has experienced the highest surge in the index over the past decade, rising from 77 destinations in 2014 to 183 destinations this year. This remarkable growth has propelled the UAE to the 11th position among the world’s most powerful passports.

Henley & Partners’ ranking gathers data from the International Air Transport Association (IATA). The company releases the ranking twice a year at the beginning of the first and third quarters.

@Znews

Ho Chi Minh City strives to welcome 6 million international visitors in 2024

Advertisements

Ho Chi Minh City will focus on tourism products catering to markets with rapid growth potential, large visitor numbers, high spending capacity, and longer stays.

In 2024, the tourism industry in Ho Chi Minh City expects to welcome a significant number of visitors from markets such as South Korea, Japan, India, China, etc., as all tourism and service activities are restored.

The city will concentrate on implementing solutions, emphasizing the improvement of the quality of tourism products, and achieving the goal of welcoming 6 million international visitors, 38 million domestic visitors, with the total tourism revenue reaching 190 trillion VND.

The city will prioritize tourism products serving markets with the potential for rapid growth, large customer base, high spending capacity, and longer stays, such as MICE tourism, golf, cruise tourism, and the development of culinary, entertainment, and shopping activities.

In early December, CNN released the annual report from the global market research company Euromonitor International, listing the top 100 cities as the world’s leading destinations for 2023. Vietnam has two representatives in the top 100: Ho Chi Minh City ranks 85th, and the capital Hanoi ranks 98th.

This indicates that Ho Chi Minh City is a convergence of diverse cultures with a variety of tourism products. It is known as the “city that never sleeps” with vibrant entertainment and activities both day and night. Not only is it a dynamic and youthful city, but Ho Chi Minh City is also recognized as a place preserving many unique cultural and historical values. Many landmarks and museums within the city are well-known to both domestic and international visitors.

@Cafef

Proposed review of resuming helicopter tours for sightseeing over Ho Chi Minh City

Advertisements

Deputy Chairman of the People’s Committee of Ho Chi Minh City, Nguyen Van Dung, proposed that the tourism industry should consider turning helicopter tours into attractive tourist products for visitors to Ho Chi Minh City.

Speaking at the summary conference of the tourism industry in Ho Chi Minh City for the year 2023 and the deployment of directions and focal tasks for 2024 by the Ho Chi Minh City Department of Tourism on the afternoon of January 10, Mr. Nguyen Van Dung, Deputy Chairman of the People’s Committee of Ho Chi Minh City, proposed solutions for the development of tourism in 2024, including suggesting that the tourism sector should consider turning helicopter tours into appealing products.

Tourists experience helicopter tours during the holidays April 30 – May 1, 2022

According to Mr. Nguyen Van Dung, right after the Covid-19 pandemic, tourism in Ho Chi Minh City introduced helicopter tours as a package to explore Ho Chi Minh City and nearby provinces. This was an initially attractive tourism package, but due to certain conditions and mechanisms, this product has not been fully exploited until now.

“The tourism industry continues to think about how to make helicopter sightseeing tours an activity, a tourism product of Ho Chi Minh City in the future. Whether helicopters are dedicated to tourism, where to visit, the flight area, landing points, and subsequent planning should be clear, and then provide advice to the city. The tourism industry needs to calculate the product that has been surveyed and tested, and I believe that this is a very interesting product for Ho Chi Minh City,” commented Deputy Chairman Nguyen Van Dung.

Vice Chairman of Ho Chi Minh City People’s Committee evaluated helicopter tours as an interesting product of Ho Chi Minh City

Earlier, on April 12, 2022, some leading travel businesses in the city experienced a survey of helicopter tours to observe Ho Chi Minh City from the air. After the survey flight, these businesses tested “Observing Ho Chi Minh City from the Air” tours by helicopter with a 40-minute flight time, launching promotional activities from April 21. After one week of promotion, the businesses successfully organized 5 flights with 80 passengers (16 passengers per flight) during the April 30 – May 1 holiday in 2022.

However, these helicopter tours have not become regular products to serve tourists due to some obstacles related to obtaining flight permits and waiting times for takeoff and landing.

@Thanhnien.vn

8 fireworks display locations for Lunar New Year 2024 in Binh Thuan, Dong Nai

Advertisements

The Lunar New Year 2024 in Dong Nai and Binh Thuan will feature 8 fireworks display locations to serve the local residents and tourists at the moment of the New Year’s Eve.

On January 10th, the People’s Committee of Binh Thuan province officially announced information regarding the organization of cultural, artistic, sports activities, and low-altitude fireworks on the eve of the Lunar New Year 2024.

Fireworks display time in Dong Nai will start at 0:00 a.m. to 0:15 a.m. on February 10, 2024.

Accordingly, across the entire province, there will be 5 locations organizing low-altitude fireworks displays to serve the local residents and tourists, including: Phan Thiet City with 1 display featuring 150 launchers, lasting no more than 15 minutes; La Gi Town with 1 display featuring 120 launchers, lasting no more than 15 minutes; Tuy Phong, Bac Binh, Ham Thuan Bac districts, each with 1 display featuring 90 launchers, lasting no more than 15 minutes.

The fireworks will start at midnight and last until 12:15 AM on February 10, 2024.

Regarding the funding, the People’s Committees of the districts and towns are responsible for mobilizing social contributions and will not use the state budget. In Phan Thiet City, the Department of Culture, Sports, Tourism of Binh Thuan province will allocate funds from the socially mobilized sources sponsored by businesses for organizing the activities of the National Tourism Year 2023, which have not been fully utilized.

Earlier, the People’s Committee of Dong Nai province also provided information about organizing fireworks for the Lunar New Year 2024.

Specifically, there will be 3 fireworks display locations across the province: Bien Hoa City, Long Khanh City, and Xuan Loc District. The locations for organizing fireworks will be at stadiums within local areas. The fireworks will start at midnight on February 10, 2024, with a duration of 15 minutes. The funding will come from social mobilization sources.

Additionally, the fireworks display program will be broadcast live at various locations in Dong Nai.

@Vietnamnet

Request ACV not to increase fees for night flights during Tet

Advertisements

The anticipated demand for night operations during the 2024 Lunar New Year is expected to exceed 1,800 flights.

Night flights are estimated to account for about 8% of the total number of domestic flights during the upcoming Lunar New Year. Illustration photo: Uavcoach.

This year, domestic airlines have registered a significant number of overnight flights to accommodate people traveling to their hometowns for the Tet celebration.

According to data from the Civil Aviation Authority, the demand for night operations during the 2024 Lunar New Year is projected to be over 1,800 flights, accounting for approximately 8% of the total domestic flights operated across the network.

Based on the scheduled night flights by airlines, the Civil Aviation Authority has instructed the Airports Corporation of Vietnam (ACV), the entity managing 22 airports, to guide local airports in Dong Hoi, Phu Cat, Chu Lai, Tuy Hoa, Tho Xuan, Vinh, Pleiku to develop plans for night flights.

In this regard, airports are required to allocate manpower, including backup personnel, to ensure infrastructure, equipment, vehicles, and readiness for services during overnight flights.

Especially, the Civil Aviation Authority demands that ACV does not increase ground service fees for local airports when serving overnight flights.

Additionally, ACV needs to closely coordinate with airlines and ground service units to ensure security, safety, and service quality for overnight flights.

On the part of the airlines, the Authority requires them to proactively provide timely and accurate information about night operation demands to airports for coordinated confirmation of service capabilities to ensure quality during the implementation of overnight flights.

@Znews

YouTube adds new rules against online violence

Advertisements

YouTube has recently added rules to combat online violence and harassment, particularly strictly prohibiting “realistic simulation” content involving minors and the narration of violent experiences.

Social media platforms are actively applying new rules to protect users from online violence and other negative factors.

YouTube’s new rules target a concerning trend where online content depicting violent crimes emerges, with artificial intelligence (AI) being used to create realistic violent scenarios, providing detailed descriptions of abusive or violent behaviors that victims have endured, including those involving children.

Some videos use the voices of children to narrate violent behaviors that have occurred in famous criminal cases. Families of the victims portrayed in these videos vehemently oppose such content, declaring them truly ‘horrifying.’

YouTube’s new regulations aim to prevent harmful content from appearing on public channels and restrict the user experience on its platform. Enforcement measures will escalate depending on the level of recurrence by the owners of video production channels.

For a first-time policy violation, YouTube will limit the user’s ability to upload videos for one week. If the violation is repeated within 90 days, penalties will escalate, and the channel may be permanently removed.

Social media platforms, including YouTube, have introduced content creation tools supported by AI in recent months, accompanied by new rules to prevent the risk of confusing content generated by AI for users.

TikTok currently requires content creators to tag corresponding AI-generated content. Meanwhile, YouTube has announced strict rules regarding the replication of voices of musicians created by AI and a set of general rules for other related issues.

@Vietnamnet

Vietnamese beef pho among the most delicious dishes in the world

Advertisements

CNN Travel names Vietnam’s beef pho as one of the 20 best soups in the world.

According to CNN Travel, beef pho is the original flavor. Photo: CNN Travel.

Recently, CNN Travel unveiled a list of the 20 best soups in the world for 2024 as voted by the news agency.

Regarding Vietnam’s pho, CNN Travel reveals that to create its delicious flavor, cooks need to add cinnamon, star anise, and various warming spices to the broth and simmer it over low heat.

“Authentic beef pho must come with slices of beef simmered in the broth,” describes Andrea Nguyen in her book “The Pho Cookbook.”

She believes that nowadays, restaurants serve a variety of pho with diverse flavors. However, beef pho is the original taste and also the most beloved version in Vietnam, featuring options such as rare beef slices, a combination of rare and cooked beef, brisket, and tendon. In Hanoi, locals even enjoy pho with a side of a few crispy donuts.

The essence of the soup lies in the broth. Author Janet Clarkson wrote in her book “Soup: A Global History” that every culture has its own distinct soup with a long history.

In ancient times, this dish was prepared in a rudimentary manner. Nowadays, inheriting chefs have added various spices, making the soup more nutritious and sophisticated. However, the indispensable step in preparing this dish remains boiling everything, both the broth and accompanying ingredients.

In addition to beef pho, Nigeria’s Banga soup (notably using oil from the palm tree), Ukraine’s red beet borscht, France’s bouillabaisse seafood soup, Japan’s Tonkotsu ramen, and Thailand’s tom yum soup are also included in this list.

@Znews

Bitcoin ETF Approval Is Historic Moment for BTC, Miners: Analysts

Advertisements

Mining stocks represent an attractive opportunity for investors looking to gain access to the long-term bitcoin adoption trade, the analysts wrote.

Investors should turn their attention to the potential impact on the bitcoin (BTC) price now that spot BTC exchange-traded funds (ETFs) have been approved, broker Cantor Fitzgerald said in a research report.

The approval should be viewed as a “landmark milestone in bitcoin’s short history, with substantial implications for long-term price appreciation,” Cantor said.

“We believe this approval acts as a major demand shock to the market, occurring a few months before bitcoin’s recurring supply shock: the halving event expected in April 2024,” analysts Josh Siegler and Will Carlson wrote. When bitcoin halving occurs, the rewards miners receive are cut by 50%.

“With levered upside and theoretical hedged downside, we believe bitcoin miners represent an attractive investment opportunity for equity investors looking for a way to access this long-term bitcoin adoption trade,” the authors wrote, adding that the spot ETFs could have a “substantial positive impact on bitcoin miner valuations.”

Investment bank H.C. Wainwright & Co. said spot ETF approval is a “historic moment for bitcoin and the miners,” as ETFs offer both retail and institutional investors a “familiar and regulated investment vehicle” and should significantly expand access to the world’s largest cryptocurrency.

“We believe many BTC-curious institutional and retail investors have lacked either the willingness or the ability to directly invest in BTC, given the nuanced requirements to acquire digital assets,” analyst Mike Colonnese wrote. “We expect significant incremental demand for BTC via these newly approved spot ETFs.”

Liquidity-Focused Berachain Opens Layer-1 Testnet to Public

Advertisements

Berachain’s pseudonymous founders plan “to accomplish more with less initial resources.”

Upcoming layer 1 blockchain Berachain opened its testnet to the public Thursday, a debut for its “proof of liquidity” consensus mechanism that garnered $42 million in funding last year.

Berachain is a meme-fueled project built in the Cosmos ecosystem. Its creators are largely pseudonymous crypto developers who identify themselves online with pictures of cartoon bears – some smoking weed.

That didn’t stop the likes of Polychain Capital from investing in their vision for a new kind of blockchain. Under the hood, it’s powered by a fresh take on the popular “proof of stake” model for securing blockchains called “proof of liquidity,” or PoL.

Under PoL, ecosystem players help secure the Berachain network by providing liquidity to the trading infrastructure built on top of it. Infrastructure can mean many things: an automated market maker, a crypto game, a lending protocol – basically anything that needs a pool of user-supplied tokens to facilitate transactions via smart contracts.

It’s common in decentralized finance (DeFi) for these protocols to reward their liquidity providers (LPers) with a token. That’s the plan for Berachain, too. Any protocol that’s passed a Berachain governance vote will get BGT to give to their LPers.

These BGT tokens are the governance tokens for Berachain, meaning its holders have power over the network. Notably, the tokens are also illiquid; you can’t buy or sell them. The only way to get them is by earning them as a reward, Berachain cofounder Smokey the Bera told CoinDesk.

“Berachain is the first chain that’s built to drive value to protocols,” Smokey said in a Telegram message.

The token’s creators plan for it to have some economic value. Any BGT holder will be able to burn their assets in exchange for the equivalent amount of BERA tokens, which will be tradeable. Or, they can delegate their BGT to others in exchange for the Berachain stablecoin called HONEY, which Smokey said will be backed by USDC.

This setup doesn’t ensure Berachain will be entirely immune from economic whales. While “you can’t just buy the staking token,” big bag holders could still buy lots of BERA, provide it as liquidity to trading protocols and receive outsize BGT, and the power they hold, Smokey said.

Still, it’s a much more active version of “proof of stake” than simply lending one’s tokens to a validator. Under Berachain, the protocols themselves receive the liquidity of all the users seeking economic returns.

The liquidity bootstrapping allows Berachain “to accomplish more with less initial resources,” Smokey said. That could be an important distinction given the number of new layer 1 blockchains rolling out and being announced.

Berachain is positioning itself to appeal to the Ethereum crowd as well as Cosmos builders, Smokey said. It’s already been in a private testnet for about a month and has more than 30 native teams, plus dozens more protocols from other ecosystems that are preparing to roll out versions of their project on Berachain.

What is XM Exchange? Review detailed information about XM

Advertisements

XM is one of the famous trading platforms in the world, especially in the fields of Forex and CFD. Established in 2009, XM has quickly affirmed its position and attracted millions of customers globally. So what is so special about XM that it is trusted by so many investors? Please immediately see the detailed review information about XM shared by SanForex below to decide whether this platform is suitable for your investment needs or not.

What is XM?

XM trading platform was founded in 2009 by Trading Point Holdings Ltd, headquartered in Belize. After 15 years of development, XM has become a strong international investment company, leading the market by conquering more than 3.5 million customers from 196 countries around the world. XM is proud to have a team of 450 experienced financial experts, supporting more than 30 languages, providing 16 diverse trading platforms and more than 25 secure payment methods.

All information at XM is clearly public, orders are executed quickly. This has attracted the attention of many investors from Japan – a place famous for its demanding investors and high requirements for service quality.

XM operating license

Business license is one of the important factors that helps XM build reputation and create trust with customers. Owning a business license proves that this exchange is under the management of a competent organization, ensuring a higher level of safety than exchanges without an operating license.

License information

XM is licensed by many of the world’s leading financial authorities, including:

  • License number 120/10 is issued by the Cyprus Securities and Exchange Commission (Cyprus Securities and Exchange Commission – CySEC).
  • License number 443670 is issued by the Australian Securities and Investments Commission (ASIC).
  • License number IFSC/60/354/TS/18 is issued by the International Financial Services Commission (IFSC).
  • License F003484 is issued by Dubai Financial Services Authority (DFSA).

With licensing from many large financial institutions, XM is subject to strict supervision, ensuring all information is transparent and accurate. Customer rights are strictly protected and illegal acts such as money laundering are prevented.in

XM guarantees customer rights through licenses

XM ensures customers’ rights through methods such as segregated accounts, full insurance in case XM goes bankrupt, capital safety according to CySEC and ASIC regulations.

  • Accounts are segregated and liquidity is guaranteed

Because XM is licensed to operate by ASIC, a highly responsible agency from Australia, this exchange must comply with strict account safety requirements. When trading on XM, customers will have 2 separate account types: an account to hold deposits and an account used for trading. 

Separating these two types of accounts ensures the safety of customers’ capital and prevents deposits from being used for personal purposes. Thanks to this, traders’ investments are always protected, even in case of bankruptcy. This is one of the main reasons why XM is trusted and chosen by many investors.

  • Insurance if XM goes bankrupt

Licensed by CySEC, XM floor complies with all regulations of this agency to protect the interests of investors. XM’s insurance mechanism provides a maximum compensation of up to 20,000 Euro from the Investor Compensation Fund, ensuring customer rights in the event of a financial incident.

  • Ensure capital safety according to CySEC and ASIC regulations

XM Global Limited is the current operating unit of XM, complying with strict regulations of CySEC and ASIC to ensure capital safety for investors. In particular, XM must maintain operating capital to meet necessary costs when fluctuations occur. Auditing companies will check XM’s annual financial reports, ensuring transparency and compliance with regulations.

  • Operating in Vietnam under the management of IFSC

In the Vietnamese market, XM is regulated by IFSC (an agency with weaker influence than CySEC and ASIC). However, the fact that XM has a license from both CySEC and ASIC proves this exchange’s continuous efforts in developing and affirming its position in the international market. This shows that XM always strives to provide the best service and protect the interests of investors.

XM trading platform

The trading platform is also the advantage that makes XM chosen by many investors. 

MT4

MT4 is a familiar trading platform chosen by many investors due to its ease of use and quick, automatic customer support. Traders can execute orders easily and efficiently with MT4.

MT4 Features:

  • Currently, MT4 is capable of integrating many products such as Forex, CFDs and is expected to expand further in the future.
  • MT4 has the ability to synchronize with many different trading software.
  • Low spread, only from 0.6 pips.
  • Many technical analysis tools, diverse indicators and charts.
  • Chart types include lines, bars, and candles.
  • Supports executing commands symmetrically and in opposite directions.
  • It is possible to install the indicator as well as set cycles and different time frames.
  • Data is guaranteed to be safe and stored.

MT5

Metaquotes Company has upgraded MT4 to MT5 to improve development capabilities and increase user ease of use. MT5 allows investors to perform more complex transactions and offers many outstanding advantages. Chart types and support tools on MT5 are more flexible, highly automated and specialized for each type of transaction.

Normally, MT4 supports order types such as Buy Stop/Limit and Sell Limit/Stop. The upgraded MT5 version adds Buy Stop Limit and Sell Stop Limit orders, helping to increase the probability of success for investors. MT5 also supports trading with robot programming and allows setting indicators suitable for each user.

In addition, MT5 also has outstanding capabilities in stock trading. However, investors need to open an MT5 account to use this feature.

MT5 Features:

  • MT5 integrates over 1,000 different trading instruments including stocks, stock indices, Forex, energies and metals.
  • Supports synchronization of 7 different product types.
  • Low spread, only from 0.6 pips.
  • 80+ technical analysis tools.
  • Capable of displaying up to 100 different charts.
  • Supports many technical indicators (80) and analysis objects (40).
  • Execute different commands.

Hedging

At XM, reciprocal Buy and Sell orders are supported, the role of hedging is to evaluate these orders at the same time. The hedging method is popular with investors but is not recommended for newcomers because of its high risks.

Across all exchanges, hedging works best at XM due to the Close by order. Two opposing orders can be closed at the same time thanks to the Close by command, helping investors save significant costs. Note that to use the Close by order, you should close the Buy and Sell orders at the same time. In addition, there is also the Multiple Close by order, which can be used on both MT4 and MT5, allowing investors to close multiple orders in the opposite direction at the same time.

MT4 Multiterminal

XM’s Multiterminal is a tool that allows investors to manage up to 128 different MT4 accounts through just one software and log in only once. The superior features of this software include:

  • Execute many types of orders and manage a variety of account types.
  • Allocate resources with 3 different methods.
  • Manage and execute transactions according to specific time frames.

Types of XM accounts

The XM platform provides investors with 3 main account types including micro, standard, Ultra and share.

Micro account

The minimum deposit at XM micro is 5 USD, Spread costs from 1 pip and no commission. XM Micro account allows opening or waiting for up to 200 orders. For MT4, the minimum order volume is 0.01 lot, while for MT5 from 0.1 lot. Micro accounts also have a trading bonus percentage, suitable for new investors with little experience.

XM’s Micro account is calculated in Micro Lots, 1 lot is only equivalent to 1,000 units instead of 100,000 units as usual standards. This helps minimize risks for investors because the transaction size is very small, no matter how large the amount displayed on XM is.

Standard account

The minimum deposit to a Standard account is 5 USD and Spread costs from 1 pip, with no commission. This account allows opening or waiting for up to 200 orders.

For MT4, the minimum order volume is 0.01 lot and there is a trading bonus percentage. This account is similar to the Micro account, but the difference is that it converts lots in standard units and has a maximum leverage of up to 1:888. The Standard account becomes a suitable choice for new investors, providing good trading conditions.

Ultra Low Account

XM Ultra Low accounts have spread costs of 0.6 pips on major currency pairs and require a minimum deposit from 50 USD. There are no commissions and up to 200 open or pending orders are allowed.

This account type is suitable for scalping style traders. XM uses Ultra Low accounts to compete with other reputable exchanges such as ECN, ICMarkets, Exness. This account has many attractive incentives to attract customers. However, Standard is divided into two sub-categories, Standard and Micro, with differences in transaction volume.

Share account

This type of account requires a minimum deposit of 50 USD, does not use leverage and has variable spread costs depending on the type. The account allows a maximum of 200 open or pending orders, with a minimum order size of 1 lot and associated commission fees. This is a favorite choice for stock traders but requires a minimum deposit of 10,000 USD or more, so leverage is not supported. According to standard conversion, to trade 1 lot, investors need 100,000 USD.  

Note: Customers can open 8 different account types on XM at the same time. However, if the account is inactive (no transactions, transfers, deposits or withdrawals), XM will apply an inactive account policy. In this case, bonuses and credit benefits will be automatically removed. Additionally, inactive accounts will be charged a monthly fee of 5 USD and stored for a maximum of 90 days.

XM trading products

Currently, XM offers the following financial trading products:

  • Forex: More than 55 currency pairs to trade, leverage up to 1000:1, customer support 24/5 weekly.
  • Stocks: Investors have the opportunity to directly access leading stock markets globally.
  • Commodities: Ideal for new investors, who can trade without owning the actual commodity.
  • Stock index: Suitable for both short-term and long-term investors.
  • Precious metals: An attractive form of investment, leverage up to 1000:1.
  • Energy: Requires initial capital from only 5 USD, with large price fluctuations depending on the market.
  • Virtual currency: Attractive investment option other than Forex, thanks to strong price fluctuations.

This diversity gives investors many choices and opportunities to receive dividends when participating in trading stocks and securities. At the same time, this is also a great competitive advantage of XM in the market.

Transaction fees

Important costs in trading at XM include Spreads and financial leverage. These costs greatly affect the interests of investors.

  • Spread costs for XM account types are maintained at a low level, fluctuating below 0.6 pip for major currency pairs and about 1 pip for Standard and Micro accounts. Customers receive this price directly from the market, without re-quotes.
  • Financial leverage ranges from 1:1 to 1:888. Minimum account limits are from 5 to 20,000 USD for Standard and Micro accounts, from 50 to 20,000 USD for Ultra Low accounts. Accounts with a value from 20,001 to 100,000 USD have leverage from 1:1 to 1:200, accounts with a value over 100,001 USD have leverage from 1:1 to 1:100. Share accounts do not use financial leverage.
  • Regarding commission fees, only Share accounts have to pay commission fees when trading stocks. Other account types at XM do not charge commissions of any kind.

Deposit and withdraw money

To make deposits and withdrawals from XM trading accounts, investors can use the following payment methods:

  • Credit Card/Debit Card
  • Electronic wallet
  • Transfer via bank

Before starting to trade with real money, account verification is very important. You need to upload documents to verify your registration information to ensure your personal information is valid and accurate. This helps avoid difficulties when depositing, trading and withdrawing money later due to incorrect registration information.

How to deposit money

To make a deposit to your XM account, you can follow these steps:

  • Step 1: Log in to XM.
  • Step 2: Select “Deposit” from the tab menu on the interface.
  • Step 3: Choose the deposit method that suits you (e.g. credit card, e-wallet, bank transfer).
  • Step 4: Enter the amount you want to deposit.

The time it takes for funds to be credited to your account will vary depending on the deposit method you choose. Credit card deposits are usually the fastest, you can see the amount updated immediately. Meanwhile, transferring money via bank may take a few days due to the verification and processing process from the bank.

How to withdraw money

To withdraw money from your XM account, you can follow these steps:

  • Step 1: Log in to XM.
  • Step 2: Select “Withdrawal” from the tab menu on the interface.
  • Step 3: Choose the withdrawal method you used to deposit previously.
  • Step 4: Enter the amount you want to withdraw and click “Withdraw”.
  • Step 5: The withdrawal amount will be deducted from the account balance immediately after the withdrawal request is processed.

The time it takes to receive the money and the transaction fee will depend on the withdrawal method you choose. Different methods may have different processing times and transaction fees.

Transaction terms

To effectively trade XM, investors need to pay attention to the following trading terms:

  • The spread clause at XM allows all clients to trade with minimum spreads from 0 pips on all currencies, regardless of the client’s account type or trading volume.
  • Regarding Margin and Leverage, XM allows investors to control risks by managing used and free margin. They also provide support tools to warn about the possibility of margin fires to help investors make better control decisions.
  • Depending on the type of account that investors initially register, they can use leverage from 1:1 to 1:500 to maximize revenue and profits.
  • Regarding trading hours, XM supports customers continuously 24 hours a day, 5 working days a week via Live Chat or phone. Working hours last from Monday to Friday every week, helping investors make effective use of their time.

Resources provided by XM

XM offers a variety of resources to help investors conduct effective trading as follows:

Trading signals

There are many types of trading signals provided by XM, including:

  • Signals analyzed by XM: Provides information and analysis about currency pairs, commodities, stock indices, and other assets on the market.
  • Signals from expert Avramis Despotic: This expert provides signals for products such as USD/EUR, GOLD, OIL, GBP/USD,… This signal includes detailed take profit and stop loss points.

You can receive these signals by:

  • Register and authenticate your member account on XM.
  • Access the account section after logging in to your account.
  • Select “Technical Analysis” to access and receive signals from expert Avramis Despotic or many other signal sources.

Main indicator

XM focuses on investing in a team of experts to develop and improve trading indicators, including upgrading the Ribbon Indicator. This indicator not only helps identify trends effectively but also has the ability to predict trend reversals in the market.

Educational resources

XM offers many detailed video tutorials on how to use MT4 and MT5 along with issues related to their trading platforms. XM experts take on the role of guiding investors on how to conduct transactions on the floor and organize many seminars to convey information and support the most effective transaction execution. Customers can experience this service for free after registering an account.

Promotion program at XM

XM easily offers customers many special promotions as follows:

Free VPS

To receive free VPS service from XM, you need to make at least 2 standard transactions per month and maintain a minimum account balance of 500 USD. If you don’t meet these requirements, you’ll have to pay a VPS fee of $28 per month.

Receive XM registration bonus

When you register an XM account, you will receive a bonus of up to 30 USD. For new customers joining XM, the bonus will be automatically issued to the account after authentication, no need to perform any other operations. To receive the account registration bonus, you need to do the following steps:

  • Create an XM account.
  • Provide documents proving identity and address to authenticate your account.
  • Claim your bonus from account management.
  • Complete the authentication process according to XM instructions.

After completing the account creation steps above, you will receive a 30 USD bonus. To withdraw this amount, you need to trade at least 0.1 lots of standard volume and execute at least 5 orders.

Welcome bonus 15%

You will receive a bonus when you make a deposit to your XM account. Within 24 hours of depositing, you will receive a bonus equivalent to 15% of the deposit amount, with a maximum of 500 USD. Bonuses can only be used to help you better manage risk and cannot be withdrawn. Note that the two account types XM Ultra Low and XM Shares Account will not receive this bonus.

Customer care

XM has a team of enthusiastic consultants, ready to support customers and answer questions 24/5 through many contact forms such as email, online chat or phone consultation. Each client is supported by a dedicated manager who will assist the client with technical handling and provide information on training sessions related to XM, MT4, MT5 and their products .

XM Exchange Review

Advantages of XM:

  • Licensed and managed by many large financial institutions, ensuring prestige and professionalism.
  • Integrate both Forex and CFD trading on the same account.
  • Allows investors to trade stocks through separate accounts.
  • No commission fees are charged when trading products other than stocks.
  • Low minimum deposit.
  • Fast deposit/withdrawal process and fee support.
  • Diverse promotions and incentives for customers.
  • Provides useful trading signals for trading.

Disadvantages of XM:

  • Stock trading costs are high and leverage is not supported for this trade.
  • Does not support making transactions with cryptocurrency.

Questions related to XM Exchange

What is the minimum and maximum deposit/withdrawal amount at XM?

At XM, the minimum deposit and withdrawal amount is 5 USD (or equivalent currencies), applicable to many deposit and withdrawal methods and supported worldwide. However, these levels may vary depending on the deposit and withdrawal method you choose and the authentication status of your trading account.

How long can I use an XM Demo account?

XM Demo accounts have no expiration date, allowing investors to use them for as long as they want. However, after 90 days from the date you last logged in, the Demo account will be closed. You can open a new Demo account to continue testing, but the maximum number of active Demo accounts is 5.

What hours does XM support trading?

The trading market at XM is open from 22:05 Sunday to 21:50 Friday GMT. However, some trading products such as CFDs have different trading times.

What do investors need to participate in XM trading?

To participate in trading on XM, investors need to prepare the following documents:

  • Color copy of passport or other government-issued identification document (e.g. driver’s license, citizen identification card,…).
  • Documents confirming personal information must include the customer’s name, date of issue or expiration date, and residential address.
  • Date of birth or tax number and customer signature.
  • Electronic utility bills (e.g. electricity, water, landline, oil, internet and/or cable TV) issued within the last 6 months, may contain the registration address.

What documents do I need to prepare to verify my XM account?

XM is a company strictly regulated and supervised by corporations and financial institutions, operating and complying with a number of regulatory documents and rules imposed by regulatory agencies. The company is under the direct control of the FSC.

This includes collecting a valid ID card, utility bill or bank statement within 6 months, verifying the customer’s registered address (KYC) and collecting appropriate documents from the customer .

Does it take long to create an XM account? 

The process of creating and using an XM account is very easy, allowing investors to create an XM trading account in just 5 minutes including procedures and personal information verification. This makes the account opening process simple and easy for anyone.

Is XM Exchange safe?

XM is one of the most prestigious and reliable forex exchanges today, operated and managed directly by XM Global Limited. The company is committed to ensuring the safety of investors’ funds, protecting them in accordance with applicable laws and regulations. The protective measures that XM applies include:

  • Customer money distribution policy: Customer money is transferred directly to their bank accounts at other financial companies. These funds are segregated from XM’s accounts and cannot be used to repay debt if the company encounters financial difficulties or goes bankrupt.
  • Bank accounts: XM always maintains customer accounts and operating accounts at reputable banking institutions, clearly separated.
  • Management supervision: XM complies with strict financial requirements. The Company maintains sufficient working capital to protect customer deposits and deal with potential fluctuations in currency transactions. In addition, XM also has an independent audit department that regularly checks the company’s financial statements.

The information shared by TraderForex in this article will help you gain more information and new perspectives about XM floor. This helps you choose the trading platform that best suits your needs and investment goals.

 

Here’s Why Chinese Investors Seek Solace Abroad

Advertisements

Frustrated by losses, Chinese investors sought refuge in neighboring countries as stocks plummeted.

Experts anticipate that the trend of investor migration will persist into 2024.

In 2023, Chinese stocks experienced a challenging year due to economic difficulties, resulting in a significant downturn in stock prices and discouraging local investors. Consequently, Chinese investors redirected their capital towards Japan’s appealing ETF fund group.

Trading activity in the China AMC Nomura Nikkei 225 ETF reached a historic high of 373 million yuan (equivalent to 52 million USD) on January 10, a staggering tenfold increase compared to the 2023 average. The AMC Nomura ETF also witnessed a surge in activity, registering a 6.3% jump since January 5, surpassing the Nikkei 225’s 3.2% increase.

[inline_related_posts title=”You Might Be Interested In” title_align=”left” style=”list” number=”3″ align=”none” ids=”” by=”tags” orderby=”rand” order=”DESC” hide_thumb=”no” thumb_right=”no” views=”no” date=”yes” grid_columns=”2″ post_type=”” tax=””]

Contrastingly, Japan’s Topix index experienced a remarkable 25% surge in 2023, reaching a 34-year high.

On the other hand, China’s CSI 300 index faced an 11% decline in 2023. Challenges in the real estate sector, sluggish consumer demand, and trade tensions with the US have significantly impacted the country’s economy. The benchmark index is currently trading at its lowest level in five years.

Persistent economic challenges have negatively affected investor sentiment over the past year. Pessimism about the swift recovery of the Chinese economy is widespread, leading to a substantial retreat of foreign investors who withdrew 90% of the capital invested in the Chinese market in 2023.

Given the need for more time for China’s economy to recover, experts predict that the wave of investor migration will continue into 2024.

Proposal to consider reopening helicopter tours to view Ho Chi Minh City from above

Advertisements

On the afternoon of January 10th, Mr. Nguyen Van Dung, the Vice Chairman of Ho Chi Minh City People’s Committee, proposed solutions to develop tourism in 2024 at a conference summarizing the city’s tourism industry in 2023 and implementing key directions and tasks in 2024 of the Ho Chi Minh City Department of Tourism. One of the solutions included making helicopter tours an attractive product for the tourism industry to consider.

According to Mr. Nguyen Van Dung, Ho Chi Minh City introduced a helicopter tourism package that included visiting Ho Chi Minh City and neighboring provinces immediately after the COVID-19 pandemic. Although this package initially attracted tourists, it has not been fully exploited due to certain conditions and mechanisms.

The Vice Chairman commented that the tourism industry should continue to think about ways to make helicopter tours a regular activity and a tourism product of Ho Chi Minh City in the future. He also emphasized the need to calculate the products surveyed and tested and mentioned that the helicopter tour is an exciting product for the City.

In April 2022, some of the leading travel businesses in the city experienced a helicopter tour to see Ho Chi Minh City from above. After the survey flight, the units tested the tour with a 40-minute flight and launched a promotion on April 21st. During the holiday from April 30th to May 1st, 2022, businesses organized 5 flights with 80 passengers (16 passengers per flight). However, this helicopter tour has not become a regular product to serve tourists due to certain problems related to applying for flight permission and waiting time for takeoff and landing.

@thanhnien.vn

Irish Launches Human Trafficking Probe Following Discovery of 14 Migrants, including Vietnamese in Shipping Container

Advertisements

On Wednesday, Irish authorities announced the commencement of an inquiry into human trafficking following the discovery of 14 migrants inside a refrigerated shipping container at the Rosslare port in the southeast.

Prior to the vessel’s arrival, U.K. authorities had alerted their Irish counterparts based on a migrant’s distress call. A statement from Irish police revealed that, following a medical evaluation, nine men, three women, and two girls were found to be in good health.

Although the nationalities of the migrants were not immediately identified, reports from RTE and the Irish Independent suggested that the majority, including the girls, were Kurds from Iran and Iraq. Additionally, three individuals were from Vietnam, and one was from Turkey. The discovery occurred during a vehicle inspection as it exited the ferry from Zeebrugge, Belgium, which had arrived on Monday.

[inline_related_posts title=”You Might Be Interested In” title_align=”left” style=”list” number=”3″ align=”none” ids=”” by=”tags” orderby=”rand” order=”DESC” hide_thumb=”no” thumb_right=”no” views=”no” date=”yes” grid_columns=”2″ post_type=”” tax=””]

Rosslare seaport serves both passenger and freight traffic from Britain and Europe, offering connections to France and Spain. Irish Transport Minister Eamon Ryan expressed relief at the migrants’ well-being, emphasizing they had likely spent more than 24 hours inside the container.

Prime Minister Leo Varadkar assured that Dublin would expedite the processing of any potential asylum claims, underscoring the country’s “first response is always a humanitarian one.” Eugene Drennan, president of the Irish Road Haulage Association, revealed that the container had been loaded onto a truck south of Paris before reaching Zeebrugge, emphasizing the fortuitous prevention of a potentially tragic outcome.

Will the Global Minimum Tax Affect Foreign Direct Investment in Vietnam?

Advertisements

Vietnam recently implemented the Global Minimum Tax (GMT) with a 15% tax rate for multinational enterprises earning over 750 million euros annually.

Concerns have arisen about its impact on Foreign Direct Investment (FDI) as it restricts Vietnam’s ability to offer tax incentives to attract investors. However, experts argue that tax incentives are not the primary motivation for multinational companies investing in developing countries like Vietnam.

Mr. Michael Kokalari, Director of Macroeconomic Analysis and Market Research Department at VinaCapital, dismisses concerns, asserting that tax incentives are not the decisive factor for multinational companies when investing in developing nations. Research by the World Bank suggests that factors such as cost, labor quality, infrastructure, and the business environment’s openness play more significant roles in investment decisions.

Vietnam, cognizant of potential impacts, is exploring alternatives to mitigate the effects of the GMT. The Ministry of Planning and Investment is proposing the “Investment Support Fund” (ISF) to refund taxes through measures like supporting employee training, research and development (R&D) costs, and interest expenses. This initiative aims to offset the tax burden imposed by the GMT on multinational companies.

VinaCapital estimates that over 100 multinational companies in Vietnam will be affected by the GMT, generating an additional 600 million USD in taxes, equivalent to 4% of FDI company profits. Notably, some entities like Samsung, currently paying around 5% tax on revenue in Vietnam, may experience a significant tax increase due to the 15% minimum tax rate.

The ISF, though recently announced, lacks detailed information. Industry experts anticipate that other countries competing for FDI in the region will likely implement similar measures to maintain a competitive tax environment.

Mr. Hoang Thuy Duong, Deputy General Director of KPMG Vietnam, emphasizes the importance of government support for various sectors, particularly high-tech, electric vehicles, and green energy. He suggests redirecting support from income-based tax incentives to cover costs such as investment, labor, land, and research and development. This shift aligns with the evolving trend in developed countries, moving away from income-based tax incentives to focus on expense-related support.

The global minimum tax is not an obligatory international treaty, but rather a trend that countries, including Vietnam, are adopting. Failure to comply may result in relinquishing tax collection rights to the parent country of the investing company. Vietnam’s adherence to the GMT is seen as a means to boost budget revenue, prevent profit transfer pricing, and maintain control over tax collection rights.

Statistics from the General Department of Taxation reveal that around 120 businesses with revenues exceeding 750 million USD operating in Vietnam could be affected by the GMT. As the country navigates these changes, it must balance attracting new investors and supporting existing ones, especially those aligned with its long-term development goals.

Ether Jumps Over $2.4K as Traders Bet on Possible Ether ETF Next

Advertisements

BlackRock had previously filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether exchange-traded fund (ETF).

Ether (ETH) and native tokens of applications built on Ethereum surged in the past 24 hours as traders bet on the likelihood of the possible proposal of an ether exchange-traded fund (ETF) following the expected approval of a bitcoin ETF in the U.S.

Ether exchanged hands over $2,400 in early European hours Wednesday, up 5% in 24 hours. Bitcoin was down 2.2% in the same period as a series of fake tweets from the temporarily hacked U.S. Securities and Exchange Commission’s X account, which created significant volatility in bitcoin trading.

BlackRock had previously filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its iShares Ethereum Trust, a spot ether exchange-traded fund (ETF).

Sentiment in the crypto community suggests traders are positioning themselves for an eventual ether-focused product – which could be the first time professional investors in the U.S. gain spot exposure to the blockchain’s token without having to own it.

“There’s a noticeable trend towards frontrunning the ether ETF,” Alex Onufriychuk, the CEO of Kaminari, said in a Telegram message.

Lido’s LDO and RocketPool’s RPL gained as much as 17% before retreating. Both protocols allow users to stake ether on their platforms and earn around 4.5% in annualized staking rewards.
Elsewhere, tokens of layer 2 networks such as Mantle’s MNT and Optimism’s OP gained as much as 9%. These networks are built atop Ethereum but operate as independent blockchains, allowing users to transact cheaply and much faster than the main blockchain.

However, market observers cautioned that an ether ETF remained a probability rather than a possibility as of Wednesday.

“The main idea is that ETH, being the second largest cryptocurrency, would have the highest probability of being the next ETF after BTC,” Martin Lee, analyst at on-chain data firm Nansen, told CoinDesk in a Telegram message.

Thirteen issuers, including traditional finance giants BlackRock and Fidelity, are currently in line for a spot bitcoin ETF whose approval is widely anticipated later on Wednesday.

Exit mobile version