If you are interested in trading, you obviously know how important it is to find the right platform to start with. With so many options available, newcomers have immense difficulties finding the best one. Today, we are going to have a quick look at a platform, that is not only one of our most favorite, but also one of the most reputable, BrokerXp.
BrokerXP is known as the platform with the lowest trading fees and non-trading fees. Usually, if you have a trading account open and there is no activity, the money will be deducted from your account. However, BrokerXP does not charge you anything for inactivity, so it’s essentially the same thing as storing money in your bank account. Essentially, trading fees is how you can differentiate a company from being “Good” to “Great”.
- Trading fees occur when you place a commodity/stock trade. Commissions and spreads are also part of the trading fees.
- Withdrawal, inactivity fees are known as the “Nontrading” fees.
- Swap – this is known as a financing rate that is charged every 24 hours for holding a leveraged position for borrowing the money to trade.
Trading fees – This is why BrokerXP has remained so popular over these years. They have incredibly low trading fees and absolutely no fees on deposited funds.
Simplicity – Trading has never been easier. Opening up an account with BrokerXP takes at most two minutes. No matter if you are a complete novice or an experienced trader, BrokerXP is the easiest to use. You are able to trade Cryptocurrencies/CFDs/Futures/commodities and indices all from the comfort of your home. BrokerXP uses metatrader 4, which is the golden standard for trading. You will be able to copy trades using MetaTrader 4 which is ideal for novices who have absolutely no experience on the market. For more advanced traders, there are market summaries, advanced charting tools, along with built-in indicators. If you are interested in automated trading, then the platform supports Metaquote which will allow you to create your own custom indicators. Unlike many other trading platforms, BrokerXP supports over 30 languages so you will never have a language barrier. BrokerXP supports English, French, Portuguese, Jараnеѕе, German, Chіnеѕе аnd mаnу mоrе.
Compatibility – You are able to trade at the comfort of your own home with anything that has internet access. That means you can use your Computer, Laptop, iPad, smartphone to monitor and place trades of your own trading account. The days of going to your local brokerage are long gone, it’s all done with sheer simplicity here at BrokerXP.
Trading Interface – As we have mentioned earlier, BrokerXP is integrated with MetaTrader 4, the golden standard for trading. And with the golden standard for trading, come many benefits such as an easy to use interface that integrates directly with your user interface, you can trade your open trades, closed trades, and profits very easily. Metatrader 4 allows you to check the price graphs, the stop losses, take profits all in a few clicks in live time. The platform has inbuilt 30 technical indicators and 24 graphics objects that allow both, inexperienced and experienced traders to predict the market very accurately. Thanks to MT4’s advanced charts, price moment can be tracked in nine timeframes.
Executing a trade – Metatrader4 allows you to execute a trade in 3 simple ways.
- Execution on request
- Execution by market
- Instant trade execution
A market order can be made here at BrokerXP very easily. It’s done by traders who do not want to buy something at the current price and would rather wait for it to go up or down to make more profits. Essentially a pending order is a more advanced type of order that allows you to be more profitable in the market. One of the best features of the golden standard trading is the stop loss and take profit features. If you know how to use these features, and rest assured BrokerXP will help you out with all of this. One click trading is also what makes BrokerXP very enticing for both new and advanced traders, with just a simple click of a button you are able to execute orders from the charts, which is excellent for minute by minute levels.
Safety of funds – Whether you are dealing with banks or trading platforms, security is the most important thing that comes to every trader’s mind. This is where BrokerXP excels, along with MetaTrader 4’s highest level of security, and the protection of your funds. You will never have a bad night of sleep, wondering where your money is. BrokerXP has advanced server-level encryption on all of the data exchanged between Metatrader 4 and BrokerXP platform, it’ encrypted with SSL and backed by the use of RSA digital signatures. Every transaction is also made via 3D security system.
Excellent for beginners – For complete novices, BrokerXP is by far the easiest platform to start with. Unlike other platforms, you will have no guidance from anyone, and you will be simply thrown into a pit in order to survive with yourself. BrokerXP has received numerous awards for having the best account managers along with customer support. Along with BrokerXP’s extremely easy to use interface, you will feel rest assured after your first five minutes. With the simplicity of MetaTrader 4, you can get to trading in no time. BrokerXP also offers a range of educational lessons in order to kick start your career in trading.
Outstanding for experienced traders – Not only BrokerXP provides complete newcomers with everything to get started and become a successful trader. It’s trading capabilities are also aimed towards experienced traders. The fact that all transactional fees are covered by BrokerXP means that large volume traders can freely transfer money in and out of the platform without paying any kinds of fees/commissions. It does not matter whether you are a long or a day trader, metatrader4 has everything that you need in order to monitor your trades. You are able to monitor trades in real time with charting periods for 5 , 15, 30 minutes as well as 1 hour, 4 hours and daily.
Demo accounts – BrokerXP offers you an excellent choice of demo accounts, you are able to trade cryptocurrencies, CFDs, commodities, stocks, futures and indices all on the BrokerXP platform. You are able to use education lessons for free in order to find out the style of trading that is best equipped for you. You are able to choose the amount of money you want to start with on a demo account, as well as have an unlimited amount of resets while learning.
Leverage (the most important factor ) – Without proper leverage, there would be no point to trade since the profits would be very small. Now with BrokerXP’s leverage, you are able to trade 1:10, 1:25, 1:50, 1:100, 1:200 as well as 1:300. You are able to choose the leverage that suits you the most, in order to make the most profits possible. Experienced traders can get high leverage in order to take advantage of the markets. Novice traders are able to choose smaller leverage in order to be safe.