If you are trade any security you will know just how important finding the right trading platform is. With all of the options available for traders, it is difficult to determine which platforms are better than others. Today we are taking a look at one of our favorite trading platforms available, Broker XP.
BrokerXP Review has shown especially low trading fees and non-trading fees. The lack of inactivity fee on their platform is a huge bonus. Not to mention, the withdrawal fees are low. To start with, it's important to understand what some of the terms mean.
Trading fees are what separate a good trading platform from a great one.
• Trading fees, are what occurs when you trade a security or forex pair. These fees are also commissions and spreads.
• Non-trading fees include withdrawal fees and inactivity fees.
• Financing rates are charged once you hold a leveraged position for longer than 24 hours. A leveraged position is one that you borrow money to trade.
Broker XP Benefits
BrokerXP has incredibly low trading fees and has no fees on deposited funds. This is very rare for trading platforms to offer this, although it is one of the main reasons why BrokerXP is just so popular.
Ease of use
From opening an account to closing your first trade, using Broker XP is easy to use for traders of all experience and knowledge. You can trade CFDs, futures, commodities, cryptocurrencies, and indices all from the push of a button with Broker XP. The trading interface that you are met with is Meta Trader 4, this is the gold standard amongst trading platforms in terms of usability. You are able to copy trades using Meta Trader 4, which makes it easier when learning how to trade. This is ideal if you are a beginner. For more experienced traders, the platform also boasts advanced charting tools, along with built-in indicators and graphical tools. If you are interested in trading automatically using programming, then the platform has MetaQuote capabilities which allow you to create custom indicators. Unlike many other platforms, Broker XP is also easy to use in other languages.
The platform's interface can be translated in 30 languages. These languages include English, French, Portuguese, Japanese, Russian, Chinese and many more.
Not to mention, Broker XP offers a web platform that allows you to trade using any browser and operating system, as long as you have an internet connection.
The Meta Trader 4 app for mobile and tablet also gives complete control over your trading account. There is a free chat option on the platform, so you can communicate with other traders across the world.
As stated previously, Broker XP is integrated with the Meta Trader 4 platform. This means that not only do you have the benefits of Broker XP's low trading fees and elite customer support, but you also have the most trusted trading interface at your disposal too. Meta Trader 4 has many windows apparent, the largest window is the price graph, which displays the security that you are tracking in real time. The platform's charting display has 30 in-built technical indicators and 24 graphics objects that enable the trader to accurately predict future patterns. Price movement can be tracked in nine timeframes thanks to MT4's advanced charting display.
Executing a trade
The frontend display for clients on Meta Trader 4 facilitates three methods of executing a trade.
• Execution on request
• Execution by market
• Instant trade execution
A market order can be made using Meta Trader 4, which is what many people do when they are beginners or experienced traders who want to buy at the current market price. A pending order is a more advanced type of order that is a commitment to buy or sell a security at a predetermined price sometime in the future. When placing a pending order, this can be a stop-loss order, stop or limit. Broker XP is one of the leading trading platforms when looking at how easy it is to execute a trade on their platform. What makes Broker XP just so enticing for advanced traders is its one-click execution feature.
With the click of a button, you can send orders from the chart, which is perfect when trading on a minute-by-minute level.
Security of funds
When dealing with large amounts of money, like most long-term traders are, the most important thing to have in mind is security. This is where Broker XP excels. Meta Trader 4, along with Broker XP have elite level security, protecting client funds. This means that you can sleep easier knowing that your money is safe. Broker XP has advanced server-level encryption on all data exchanged between Meta Trader 4 platform and the Broker XP platform. This security is backed by the use of RSA digital signatures.
Good for beginners
For people just learning to trade, BrokerXP is undoubtedly the best platform to start with. Unlike other platforms, Broker XP's interface is easy to use and removes unnecessary information that may confuse beginner traders. When first trading, looking at a charting window is incredibly difficult to grasp, but with Meta Trader 4's simple interface, you can get trading in no time. Also, Broker XP also offers a wide range of educational tutorials and videos that can be used to kickstart your trading career.
Good for experienced traders
Not only is Broker XP good for beginners, but it's trading capabilities are also geared towards expert traders. The lack of deposit fees means that large-volume traders can maximize their profits without worrying about hefty commissions. Regardless if you are an intraday trader or long term position-holder, the various timeframes that Meta Trader 4 has will facilitate your all traders needs. You can look at charting periods per 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, daily, weekly, monthly and even broader than that.
When trading real capital, losses are inevitable. For traders just starting out, a large loss may mean the end of your trading career, which is more common than expected. The way that many people avoid making huge losses when starting out is by trading with a demo account until they are comfortable with depositing real capital. Broker XP offers people with the chance to open a free demo account with unlimited virtual capital to spend. This is a great way for beginners to experience placing an order and carrying out technical analysis. You are able to reset the demo account as many times as you need.
Leverage (a most important factor)
Without leverage, most traders would not be making the large profits that we have come to see in recent years. With BrokerXP you are able to leverage capital at the ratio of 1:200. This is not a massively high number, which works best for beginner traders. By leveraging capital, you are able to increase the scale of your profits. However, this works in two ways as you can also have your losses multiplied. For beginners, over leverage can mean multiplying your losses to the extent whey they cannot be recovered. So leveraging at the rate of 1:200 ensures that beginner traders (and experienced ones at that) do not bite off more than they can chew, in the proverbial sense.
To conclude, we recommend Broker XP for traders of all experience and trading volume.
A 5-star review from many satisfied clients.