Description: We take a look at XM LTD; one of the best brokers you can use as a foreign exchange Melbourne trader.
When trading with XM international, you will have a lot at your disposal. There is a good collection of trading platforms and tools, all geared towards providing you with a pleasurable and profitable trading experience. New clients get a 100% bonus on their first deposits, demo accounts are unlimited and reasonable spreads are charged on all the pairs. The customer service is top notch too. As a foreign exchange Melbourne trader there are a lot of positives associated with using XM LTD.
The company is regulated by several agencies including the BaFin in Germany and the FSA in the UK. This means that all funds left with them are properly protected.
XM has different kinds of platforms made to meet the needs of different categories of traders. The XM MT4 terminal is one that will suit both new and experienced traders. This terminal is one of the most widely used around the world so you can be sure it is going to help you trade successfully.
With the XM web trader, you can easily analyse the markets, carry out your trades and also work out charts that will enhance your trading operations. The web trader will work on all kinds of web browsers and this makes it easy for traders to trade without downloading any software.
The Zulu trader platform will allow you to interact with other traders and also get to learn valuable trading techniques; and equally copy trades from other successful members easily.
On the mobile front, there is the XM platform for the iPhone, iPad and Android which makes it very easy for traders to trade while on the go. This convenience will be appreciated by individuals that do not have the luxury of sitting in front of their computers all day.
Just like other good forex brokerages, you don’t pay a commission when you open a trade on your XM account. In terms of spread, XM is constantly trying to match the lowest possible spread out there. Spreads with this broker start from 1 pip. The broker is referred to as a 4 digit broker due to the fact that their products are quoted to a 5th decimal point.
Trading Account Types
With XM, there are 3 distinct types of trading accounts. There is the MICRO account, meant for investors that are new to the market. You need only $5 to open this type of trading account. The STANDARD account is for traders that want to benefit from bigger trade sizes, and there is the EXECUTIVE account meant to cater for professional traders willing to invest $25,000 into this market.
The account types all come with varying degrees of trading bonuses.
One thing that makes this broker stand out from everyone else is their ability treat and handle issues over the phone. You can either call them or request for a call back. Emails are responded to within 30 minutes of sending too.
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