I always believe that a trader’s trading career is divided into 3 phases: beginners, experienced traders and experts. In each phase, you will need a suitable type of trading account that meets your needs and requirements. This article is for experienced traders who are no longer beginners in the forex market. They are used to the trading platform and now they want to make more. I suggest switching to XM Standard account – the perfect trading account for normal and experienced forex traders. Let me explain why.
Leverage is the ratio of equity to loan capital. When you decide to trade in the forex market, you must first open a margin account with a forex broker. You’re usually advised to choose low leverage, but that is trading leverage. I’m talking about the account’s leverage. When it comes to account’s leverage, the higher, the better. XM offers a unique leverage rate at 1:888, which I think is very good.
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 Standard account is around 1.7 pips, which is considerably lower than other trusted and big brokers. XM Standard account doesn’t charge you commission when trading.
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.
XM minimum deposit rate is only $5. This is one of the lowest rates in the market. With just 5 US dollars, you can start trading with this big broker right away.
XM bonus program is very good. XM lots back $3 (0.3 pip) to 10$ (1 pip) for each completed transaction and the rebated amount will increase by time for each trading lot. After the lot-back bonus, cost of transactions is now lower and the spread rates are decreased down to only 1 – 1.4 pips. Moreover, XM also has the deposit bonus, which allows you to get money depending on how much you deposit it. This deposit bonus program can reduce your trading costs even more. You can get up to $5000 from their deposit bonus program, with the maximum deposit rate being 100%.
Finally, XM requires a minimum deposit of $5, which is acceptable in this market.
XM is one of the most reliable forex brokers in the world. How can you define the reliability of a broker? The answer is the regulations. Regulations are like the certificates given to brokers from famous and big financial organizations around the world. Each country has its own regulation(s) to make the brokers follow its standards and requirements. Regulations are made to put the safety of the traders on top. XM has four of the most prestigious regulations in the world, which are FCA, CySEC, ASIC, and FSB. Therefore, you can rest assure your fund will be safe when trading with XM.
Open XM Standard account now. Or if you still have doubts, you can try the free XM demo account.