Newcomers to the forex market should consider XM Micro account to start your trading career. Because XM is a very good broker, one of the best forex brokers actually. Since XM is set up, they currently magnetizes an abundance of clients with record figure reached 1,500,000 clients from every corner of the globe (196 countries). The success of XM comes from their business plan through some action such as: XM paid a visit more than 120 countries to meet with their clients and partners and hosted hundreds of seminars all over the world to train traders, enabling them to make better trading decisions.
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Safe trading and fund’s security are things which a traders wants from brokers. If any brokers own regulations, they always are the best choice of all traders because licenses prove broker’s reliability. As you know, U.S. and U.K. are the top regulatory agencies in the world. Regulations from 2 agencies is very trusted due to the fact that it is not easy to achieve them.
However, by virtue of the quality of US and UK regulations the spread and/or commission is higher to cover for the regulatory fees. Clearly, this cause some disadvantages for traders.
Up to now, XM have over 4 regulations and licenses such as CySec, ASIC (Australia), FCA (UK), FSB (South Africa), and IFSC.
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When talking about trading cost, we should pay attention to two main factors. They are spread and commission. Spread is the difference between the Ask price and Buy price. The spread on all major currency pairs of XM Micro account is around 1.7 pips, which is considerably lower than other trusted and big brokers. XM Micro account doesn’t charge you commission when trading.
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Now, you may say that there are brokers offering lower spread than XM. Well, it’s true. But listen to this, I only say that spread is one of the main factors; however, it is not the decisive one. There are others that contribute to the total trading cost. And at XM, there are more.
You get $3 discount for every transaction even $10 per transaction. Once you take XM’s loyalty program into consideration, their trading conditions can be on-par with other US and UK brokers with spreads as low as 1 – 1.4 pips.
It reduces your trading costs even more. You can receive up to $5000 from this program with the maximum deposit rate being 100%.
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If you make use of all the bonus programs that XM Micro account proposes, you enjoy the best trading conditions available on the market simply by being a clever trader.
Customer care is vital to new traders like you. In the process of trading, I make sure that most traders meet some troubles. To deal with these unexpected situations customer support is considered as one of the most indispensable criteria for selecting a broker. With many experiences in trading market, I found that there is nothing to complain about XM’s customer services from technical to attitude. Especially, to support some traders can’t use English well, XM accounts offer over 30 languages such as Thai, Chinese, Indonesian and always serve 24/7. Noted that those countries also have local banking supports as well.