Avatrade fixed spreads forex

It was founded in 2009 and is headquartered in Cyprus. It’s one of the few brokers that are regulated by four avatrade fixed spreads forex authorities which include ASIC, CySEC, FCA and IFSC. Tradable instruments This online forex broker boasts over 300 different tradable instruments.

Investors can choose among 55 plus currency pairs, CFDs, stocks, indices, precious metals, energies, cryptocurrencies and commodities. Trading platforms supported Xm supports both Metatrader 4 and Metatrader 5 trading platforms. Both platforms are popular among traders and each gives you access to over 300 different instruments to trade. Support for these platforms makes it easy to access your trading account from different internet enabled devices.

These include desktop, IOS and Android devices. Account types This broker offers 5 different account types. This account comes in handy when you want to try out the platform without investing real cash. There are 4 different cash based accounts to choose from. The first is the micro account which supports over 10 base currency options. 5 and contract sizes are 1000. No commission is charged on this account while leverage is offered between 1:1 and 1:888.

The second account type is the standard account. Its features are similar to those of the micro account except the contract size is 100000. The third account type is the XM zero account. It only offers three base currency options and contract sizes of 100000. 100 and commissions are charged on transactions. These accounts do not attract rollover interests on overnight positions held. Other features you’ll find in Islamic account types include no upfront commissions and no spread widening.

This broker accepts up to 25 different payment methods. This makes it easy to choose the payment method that’s most convenient for you. Some of the accepted ways to fund your trading account or withdraw your earnings include credit card, electronic payments like Neteller and wire transfer. Deposits made via credit or debit card and, electronic means will usually reflect in your account almost instantly up to 24 hours. Withdrawals are usually processes within 24 hours. If you prefer using bank transfer, your deposit or withdrawal amount will take between 2 and 5 days to reflect in your account.

Xm regularly runs promotions to attract new traders. You don’t have to deposit your own money to start trading on the platform. This broker offers their service to traders from over 196 countries. The trading platform supports over 30 different languages making it even more accessible to traders from all over the globe. Xm boasts as one of the trader friendly brokers.

They’ve invested in a number of resources which increase a trader’s chance of success. These include personal account managers, access to trading signals, free daily technical analysis and free access to forex market research among others. Deposits and withdrawals via bank transfer take as long as 5 business days. However, this is common across most forex brokers. Xm is one of the few online forex brokers that have built a reputation for being pro-trader and offering excellent features. Since 2009, this broker has attracted over 1 million traders from across the globe.

Their free demo account and an additional 4 different account types makes it a good choice for both beginner and experienced traders. WHY FOREX TRADING IS SUDDENLY INTERESTING IN SOUTH AFRICA Forex trading is basically the buying and selling of currencies. The value of one currency is weighed against the perceived value of another with one being the base and the other being the counter. ZAR with the USD being the base and ZAR the counter. The allure of Forex Trading in South Africa The internet happens to be awash with advertisements from brokers and trading companies promising to make you a millionaire within no time and more so without having to work a 9 to 5 job. Social media has also contributed to the lure of forex trading and the gold mine it supposedly is in South Africa.

The forex South Africa industry has suddenly become a hotspot for traders claiming to have made it big as a result of their being in the industry. As a result, the thought of living the kind of life these traders do is irresistible to most South Africans. It has become a sort of get rich quick scheme with everybody wanting to have a taste of the pie. Another reason that seemingly makes this an ideal investment opportunity is the flexibility it affords one. You can choose what hours to work and where to work from as long as you have currency in your trading account.

The truth about Forex Trading Every trade or business has its pros and cons and forex trading is no exception. Experts in South Africa are of the opinion that despite all the glitz and glamour surrounding the prevalence of forex trading in the country, there are also downsides that most of the brokers and agents will not willingly reveal. The trick with forex trading is to keep your eye out on the international markets in terms of business, politics as well as international relations. Other than that, for you to earn astronomical figures, you need to make a significant investment as each trade earns pennies on the dollar or whichever currency you choose to trade. Industry experts warn investors daring to try forex trading that they should brace themselves for anything even as they hope and plan for the best. What you need to know if you are considering forex trading It is a speculations game: most traders trade generally on speculation even though market trends play a role in a trader’s investment decision.

That means chances of being wrong on your hunch are just as good as of your being right. It is not a get-rich-quick-scheme: the forex market despite being the most liquid in the world happens to be the most volatile. The erratic changes also make it among the most unpredictable. Scams are real: as a South African, I am sure you are not new to pyramid schemes and the like.

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