de | cn | ru

Brokers News

Trading Point Consolidates All Its Brands Under XEMarkets

When in July this year the Cypriot broker Trading Point announced that it will be rebranding into XEMarkets, I was surprised (that might even be an understatement). I couldn’t understand why would an established, well-known and successful broker rebrand and start from scratch?! I suspected that Trading Point was trying to escape its reputation of a broker that got in trouble with the CFTC in regard to US traders but that didn’t really seem a completely plausible theory. 

 
Then for a while there were no news about transition from the one brand to the other, and I just accepted the fact that the rebranding didn’t make any sense. Until yesterday, when I found out that another brand of Trading Point of Financial Instruments Ltd. – MegaTraderFX – is also shutting down operations and transferring its customers to XEMarkets. There it was – my a-ha moment. Trading Point was simply consolidating!  
 
When you look at things from business prospective, it really doesn’t make any sense to support 2 or 3 separate skins of the same trading platform: this requires separate customer support teams, different promotions for all the brands, etc. Place yourself in the shoes of the end customers – and again, you’ll see that the benefits of multiple skins of the same company are close to non-existent. In that light, what Trading Point is doing seems to be the most logical business development. 
 
Today, MegaTraderFX clients will all be migrated to XEMarkets and this will affect them in two ways. First, while the maximum leverage allowed at MegaTraderFX was 1:500, the one at XEMarkets is 1:888. My personal opinion is that brokers should not be offering leverage that high as it encourages traders to take unnecessary risks, so I don't consider that to be a benefit but nonetheless, this is what the broker offers.  
 
Secondly, former MegaTraderFX clients will be eligible for a 10% bonus on their next deposit at XEMarkets (I got this information from their customer support so you may want to double-check before making a deposit). The bonus is not withdrawable, however there are no restrictions on withdrawing any profit made with the bonus money. 
 
In order to access their new accounts, MegaTraderFX traders will simpy need to download XEMarkets’ MT4 platform and log in with their old account number and password. 
 

About XEMarkets

XEMarkets is a registered trade name of Trading Point of Financial Instruments Ltd, a European Union-regulated broker and a registered Cyprus Investment Firm (CIF) that operates its services in compliance with the Cyprus Securities and Exchange Commission (CySEC), registered under the license number 120/10; authorized by the Financial Services Authority (FSA) UK (licensed under 538324), and with full EU-authorization, including BaFin from Germany, CNMV from Spain, AFM from the Netherlands, FI from Sweden, and FIN from Finland. XEMarkets.com provides online trading on forex, CFDs and futures in accordance with the investor protection measures described by the Markets of Financial Instruments Directive (MiFID).
TAGS: XEMarkets  Trading Point  MegaTraderFX  brand consolidation  forex trading  forex broker  MT4 

More news about XM

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

More Forex Brokers News

Fortrade is the first broker to get an ASIC license in nearly 2 years

Mar 20 2019 15:03:35

  Fortrade acquired a financial services license from the Australian Securities and Investments Commission (ASIC), which hasn’t been very welcoming of new retail forex broker applicants lately. Read more

FP Markets launches a suite of cutting-edge MT4 tools for traders

Mar 06 2019 14:31:42

  FP Markets, a market-leading Forex and CFD provider, launches MT4 Trader Toolbox, a suite of twelve online trading tools which will take their clients’ trading to the next level. Read more

Major broker IG launched its US website

Jan 31 2019 13:15:37

  Global brokerage IG launched its website intended for US retail clients (www.ig.com/us). Residents of the US (with the exception of those in Arizona or Ohio) can now register on the broker’s website in less than 5 minutes and start trading. Read more

FOREX.com announced important updates to its Web Trading platform

Jan 25 2019 15:13:43

  Major forex brokerage  Forex.com  proudly announced important updates of its in-house Web Trading platform, which will take your trading experience to the next level.   Accessible from all browsers and operating systems, Web Trading was launched in 2017. Read more

HotForex parent gets licensed by UK’s FCA

Jan 21 2019 12:31:59

  Less than a month after HotForex acquired license to operate in the UAE, the trading services provider gets an authorization by the Financial Conduct Authority of the UK. The UK subsidiary of the HF Markets Group, HF Markets (UK) Ltd. Read more

Rakuten Securities offers HK$700 prepaid cards as a welcome gift

Jan 18 2019 10:26:57

  Hong Kong forex broker Rakuten Securities offers up to HK$700 Spending Limit Prepaid Card as a welcome gift to new account registrants. Here are all the details you need to know about the company’s promotional offer, which is valid from now until the end of March 2019. Read more

XM applies for a forex dealer license in the US

Jan 11 2019 13:39:14

  The US subsidiary of major forex brokerage XM has applied for a membership with the National Futures Association (NFA). This became clear from a filing by the broker’s US entity Trading.com Markets Inc. (previously Trading Point US Inc.) with the NFA dated January 3, 2019. Read more

HotForex acquired DFSA license, commences operations in the UAE

Jan 08 2019 10:45:37

  HotForex is now licensed by the Dubai Financial Services Authority (DFSA) and announced it commences operations in the United Arab Emirates (UAE). The Dubai arm of the HF Markets Group, HF Markets (DIFC) Ltd., acquired the DFSA license in December last year. Read more

CySEC warns Efexa1000 is not licensed

Oct 22 2018 12:55:06

  The Cyprus Securities and Exchange Commission (‘CySEC’) officially warned investors that Efexa1000 is not authorized to provide investment services in the country. Read more

IG Group gets licensed in the USA

Oct 16 2018 13:48:15

  Major forex broker IG Group (IG) got a green light from the National Futures Association (NFA) to operate on the US retail forex market. The US arm of IG Group, IG US LLC, has just been approved as a NFA member and is officially registered as a Retail Foreign Exchange Dealer (RFED). Read more

de | cn | ru